TTOO - T2 Biosystems Q2 results miss on top and bottom lines but maintains 2022 outlook
- T2 Biosystems ( NASDAQ: TTOO ) Q2 2022 results missed on the top and bottom lines , though the in-vitro diagnostics company maintained its 2022 revenue outlook.
- Shares are down 8% in post-market trading.
- T2 ( TTOO ) expects full-year revenue of $28M-$31M, including product revenue of $16M-$17M. Consensus revenue estimate is $28.6M.
- In addition, the company expects to close 60 to 70 T2Dx instrument contracts in 2022, though COVID-19 revenue is expected to to decrease from $9.5M to $3.5M.
- Q2 2022 net loss widened ~45% to $18M (-$0.10 per share, basic and diluted) from Q2 2021.
- Revenue of ~$5.9M was a ~12% year-over-year decline.
- Seeking Alpha's Quant Rating views T2 ( TTOO ) as a sell.
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T2 Biosystems Q2 results miss on top and bottom lines, but maintains 2022 outlook