T2 Biosystems (TTOO) Financials
Newest figures come from the 10-Q for Q3 FY2024, filed Nov 14, 2024. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TTOO SEC filings page.
T2 Biosystems (TTOO) reported $7.2M in revenue for fiscal year 2023, down 67.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development-stage economics remain dominated by operating cash consumption, with financing offsetting losses as revenue contracts.
Net loss was-$50.1M in FY2023 while operating cash flow was-$48.1M , so reported losses were largely cash-linked rather than dominated by non-cash charges. Free cash flow was-$48.3M against only$192K of capital expenditures, indicating the cash burden sits in ongoing operations, not physical reinvestment.
Revenue fell to
Liabilities of
Financial Health Signals
T2 Biosystems does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
T2 Biosystems passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
T2 Biosystems reported a net loss of $50.1M while operations used $48.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
T2 Biosystems generated $2.0M in revenue in Q3 2024. This represents an increase of 34.9% from the same quarter a year earlier. Against the prior quarter it is up 1.7%.
T2 Biosystems's EBITDA was -$10.1M in Q3 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 25.5% from the same quarter a year earlier. Against the prior quarter it is down 6.2%.
T2 Biosystems reported -$10.1M in net income in Q3 2024. This represents an increase of 34.4% from the same quarter a year earlier. Against the prior quarter it is down 12.9%.
T2 Biosystems earned -$0.57 per diluted share (EPS) in Q3 2024. Against the prior quarter it is up 10.9%.
Cash & Balance Sheet
T2 Biosystems held $2.1M in cash as of Q3 2024; long-term debt is not reported for that period.
Not reported for Q3 2024.
Not reported for Q3 2024.
Margins & Returns
Not reported for Q3 2024.
Not shown for Q3 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q3 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q3 2024.
Capital Allocation
T2 Biosystems invested $2.7M in research and development in Q3 2024. This represents an increase of 0.2% from the same quarter a year earlier. Against the prior quarter it is down 20.6%.
Not reported for Q3 2024.
Not reported for Q3 2024.
TTOO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-Q | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0M+34.9% | $2.0M-0.6% | $2.1M-0.8% | $1.7M-69.4% | $1.5M-60.0% | $2.0M-66.8% | $2.1M-71.3% | $5.5M-21.4% |
| R&D Expenses | $2.7M+0.2% | $3.4M-12.7% | $3.7M-16.8% | $3.2M-32.0% | $2.7M-58.2% | $3.9M-52.0% | $4.5M-32.8% | $4.7M-13.0% |
| SG&A Expenses | $5.4M-10.1% | $5.5M-13.1% | $6.7M-7.7% | $5.3M-19.8% | $6.0M-14.8% | $6.3M-19.5% | $7.3M-20.9% | $6.6M+0.2% |
| Operating Income | -$10.2M+25.3% | -$9.6M+26.6% | -$12.6M+7.9% | -$9.3M+2.1% | -$13.6M+13.9% | -$13.1M+13.1% | -$13.7M+7.9% | -$9.5M+7.4% |
| EBITDA | -$10.1M+25.5% | -$9.5M+26.8% | -$12.5M+6.7% | -$8.9M+3.7% | -$13.5M+12.9% | -$13.0M+12.6% | -$13.4M+7.8% | -$9.3M+7.3% |
| Interest Expense | N/A | N/A | N/A | N/A | $1.1M-28.3% | $1.5M+14.5% | $1.5M-7.8% | $1.5M-45.1% |
| Net Income | -$10.1M+34.4% | -$9.0M-41.2% | -$13.5M+24.7% | -$10.3M-2.4% | -$15.4M+11.2% | -$6.3M+64.8% | -$18.0M-8.9% | -$10.1M+16.8% |
| EPS (Basic) | -$0.57+83.5% | -$0.64+91.8% | -$2.66+98.0% | $2.60+1957.1% | -$3.45+98.8% | -$7.84-53.7% | -$131.77-2611.3% | -$0.14+96.2% |
| EPS (Diluted) | -$0.57 | -$0.64 | -$2.66 | $2.60+1957.1% | -$3.45 | -$7.84 | -$131.77 | -$0.14 |
| Diluted Shares (Avg) | 18M | 14M | 5M | N/A | 4M | 809,168 | 136,333 | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Income Tax.
TTOO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-Q | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.1M-58.2% | $21.7M-41.5% | $24.8M-24.4% | $34.8M+1.4% | $43.3M-1.5% | $37.1M-6.2% | $32.7M-33.3% | $34.3M-43.3% |
| Current Assets | $9.8M-70.2% | $13.0M-45.6% | $15.6M-17.8% | $25.2M+30.1% | $32.9M+13.9% | $23.9M-3.4% | $18.9M-43.5% | $19.4M-56.4% |
| Cash & Equivalents | $2.1M-91.4% | $4.2M-73.6% | $6.2M-38.6% | $15.7M+51.9% | $24.3M+19.4% | $16.1M+21.7% | $10.1M+7.7% | $10.3M-53.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% |
| Inventory | $3.8M-10.7% | $5.2M+19.2% | $4.7M-5.4% | $4.8M+12.5% | $4.3M+0.9% | $4.3M-23.6% | $4.9M-4.6% | $4.3M+9.6% |
| Accounts Receivable | $2.0M+78.5% | $1.3M-3.9% | $1.6M+20.0% | $1.4M-34.4% | $1.1M-27.8% | $1.3M-50.4% | $1.3M-69.7% | $2.2M-57.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $29.8M-52.3% | $27.6M-62.5% | $62.5M-24.3% | $62.8M-15.1% | $62.5M-17.3% | $73.6M-4.6% | $82.6M+10.6% | $74.0M+0.7% |
| Current Liabilities | $24.4M-55.9% | $21.8M-67.0% | $56.3M+215.5% | $56.2M+454.4% | $55.5M+406.8% | $66.1M+400.7% | $17.8M+40.7% | $10.1M-13.3% |
| Non-Current Liabilities | $5.4M-24.1% | $5.8M-22.4% | $6.3M-90.3% | $6.7M-89.5% | $7.1M-89.1% | $7.5M-88.3% | $64.8M+4.5% | $63.9M+3.4% |
| Total Equity | -$11.7M+39.1% | -$5.9M+83.8% | -$37.8M+24.3% | -$28.0M+29.3% | -$19.2M+39.3% | -$36.4M+2.9% | -$49.9M-94.5% | -$39.7M-207.3% |
| Retained Earnings | -$616.9M-7.5% | -$606.8M-8.6% | -$597.8M-8.3% | -$584.3M-9.4% | -$574.0M-9.5% | -$558.5M-10.2% | -$552.2M-13.0% | -$534.2M-13.1% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
TTOO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-Q | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.3M+53.3% | -$9.2M+25.4% | -$11.7M+9.7% | -$9.4M+8.8% | -$13.4M+15.8% | -$12.4M-24.4% | -$12.9M+10.4% | -$10.3M-4.9% |
| Depreciation & Amortization | $100K0.0% | $100K0.0% | $64K-75.0% | $74K-71.0% | $100K-66.7% | $100K-50.0% | $256K-10.5% | $255K-5.6% |
| Stock-Based Compensation | $215K-75.4% | $196K-78.4% | $1.6M-13.0% | N/A | $875K-35.4% | $907K-40.4% | $1.8M-28.2% | N/A |
| Capital Expenditures | N/A | N/A | N/A | $26K-27.8% | $13K-89.7% | $33K-77.7% | $120K+313.8% | $36K-81.9% |
| Free Cash Flow | N/A | N/A | N/A | -$9.4M+8.9% | -$13.4M+16.4% | -$12.4M-22.9% | -$13.1M+9.7% | -$10.4M-3.2% |
| Investing Cash Flow | N/A | N/A | N/A | -$26K+27.8% | -$13K+89.7% | -$33K-100.3% | -$120K-313.8% | -$36K-100.4% |
| Financing Cash Flow | $4.1M-81.1% | $7.3M-60.4% | $2.2M-81.4% | $812K+8.6% | $21.6M-6.7% | $18.4M+368.9% | $11.8M+885.7% | $748K+213.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTOO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-Q | Q3'2310-Q | Q2'2310-Q | Q1'2310-Q | Q4'2210-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -511.9% | -490.5% | -611.4% | -555.0% | -924.4% | -664.5% | -658.7% | -173.6% |
| Net Margin | -509.7% | -459.2% | -656.7% | -615.8% | -1047.9% | -323.2% | -864.5% | -184.2% |
| Return on Assets | -56.0%-20.3pp | -41.3%-24.2pp | -54.7%+0.2pp | -29.7%-0.3pp | -35.6%+3.9pp | -17.1%+28.4pp | -54.9%-21.3pp | -29.4%-9.4pp |
| Current Ratio | 0.40-0.2x | 0.60+0.2x | 0.28-0.8x | 0.45-1.5x | 0.59-2.0x | 0.36-1.5x | 1.06-1.6x | 1.91-1.9x |
| Asset Turnover | 0.11+0.1x | 0.090.0x | 0.080.0x | 0.05-0.1x | 0.030.0x | 0.05-0.1x | 0.06-0.1x | 0.160.0x |
| FCF Margin | N/A | N/A | N/A | -562.4% | -910.7% | -632.4% | -628.5% | -189.0% |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$28.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.45), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| T2 Biosystems TTOO | FY2023 | $7.2M | -$50.1M | N/A | N/A | — |
| Interpace Biosciences Inc IDXG | FY2025 | $38.7M | $24.6M | 63.5% | $36.1M | — |
Where T2 Biosystems Ranks
Frequently Asked Questions
What is T2 Biosystems's annual revenue?
T2 Biosystems (TTOO) reported $7.2M in total revenue for fiscal year 2023. This represents a -67.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is T2 Biosystems's revenue growing?
T2 Biosystems (TTOO) revenue declined by 67.8% year-over-year, from $22.3M to $7.2M in fiscal year 2023.
Is T2 Biosystems profitable?
No, T2 Biosystems (TTOO) reported a net income of -$50.1M in fiscal year 2023.
What is T2 Biosystems's EBITDA?
T2 Biosystems (TTOO) had EBITDA of -$48.8M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
What is T2 Biosystems's free cash flow?
T2 Biosystems (TTOO) recorded an outflow of $48.3M in free cash flow during fiscal year 2023. This represents a 5.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is T2 Biosystems's operating cash flow?
T2 Biosystems (TTOO) recorded an outflow of $48.1M in operating cash flow during fiscal year 2023, representing cash used by core business activities.
What are T2 Biosystems's total assets?
T2 Biosystems (TTOO) had $34.8M in total assets as of fiscal year 2023, including both current and long-term assets.
What are T2 Biosystems's capital expenditures?
T2 Biosystems (TTOO) invested $192K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
How much does T2 Biosystems spend on research and development?
T2 Biosystems (TTOO) invested $14.2M in research and development during fiscal year 2023.
What is T2 Biosystems's current ratio?
T2 Biosystems (TTOO) had a current ratio of 0.45 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is T2 Biosystems's return on assets (ROA)?
T2 Biosystems (TTOO) had a return on assets of -143.9% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
How does T2 Biosystems's liquidity compare with its operating cash outflow?
At the end of fiscal year 2023, T2 Biosystems (TTOO) held $15.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $48.1M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is T2 Biosystems's debt-to-equity ratio negative or not reported?
T2 Biosystems (TTOO) has negative shareholder equity of -$28.0M as of fiscal year 2023, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is T2 Biosystems's Piotroski F-Score?
T2 Biosystems (TTOO) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are T2 Biosystems's earnings high quality?
T2 Biosystems (TTOO) reported a net loss of $50.1M while operations used $48.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.