TTOO · T2 Biosystems, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.99M | $1.95M | $2.06M | - | $1.47M | $1.96M | $2.08M | - | $3.68M | $5.91M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $2.67M | $3.36M | $3.72M | - | $2.66M | $3.85M | $4.47M | - | $6.38M | $8.03M |
| SG&A | $5.38M | $5.47M | $6.74M | - | $5.98M | $6.30M | $7.30M | - | $7.02M | $7.82M |
| Total Operating Expenses | $12.15M | $11.53M | $14.66M | - | $15.08M | $15.02M | $15.77M | - | $19.48M | $20.93M |
| D&A | $100.0K | $100.0K | $64.0K | - | $100.0K | $100.0K | $256.0K | - | $300.0K | $200.0K |
| Operating Income | ($10.16M) | ($9.57M) | ($12.60M) | - | ($13.61M) | ($13.05M) | ($13.69M) | - | ($15.80M) | ($15.02M) |
| Interest Expense | - | - | - | - | $1.12M | $1.54M | $1.52M | - | $1.56M | $1.35M |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($10.12M) | ($8.96M) | ($13.53M) | - | ($15.43M) | ($6.35M) | ($17.96M) | - | ($17.38M) | ($18.03M) |
| EPS - Basic | ($0.57) | ($0.64) | ($2.66) | - | ($3.45) | ($8.00) | ($486.00) | - | ($421.00) | ($500.00) |
| EPS - Diluted | ($0.57) | ($0.64) | ($2.66) | - | ($3.45) | ($8.00) | ($486.00) | - | ($421.00) | ($500.00) |
Balance Sheet
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.08M | $4.25M | $6.21M | $15.69M | $24.32M | $16.08M | $10.12M | $10.33M | $20.37M | $13.21M |
| Accounts Receivable | $2.03M | $1.30M | $1.59M | $1.42M | $1.14M | $1.35M | $1.32M | $2.16M | $1.58M | $2.72M |
| Inventory | $3.83M | $5.17M | $4.67M | $4.82M | $4.28M | $4.34M | $4.94M | $4.29M | $4.24M | $5.67M |
| Accounts Payable | $4.21M | $1.69M | $1.89M | $1.53M | $1.09M | $2.23M | $3.13M | $1.30M | $2.06M | $5.23M |
| Current Assets | $9.79M | $13.00M | $15.56M | $25.19M | $32.88M | $23.87M | $18.93M | $19.36M | $28.88M | $24.70M |
| Total Assets | $18.08M | $21.72M | $24.75M | $34.80M | $43.28M | $37.13M | $32.73M | $34.33M | $43.95M | $39.60M |
| Current Liabilities | $24.43M | $21.80M | $56.26M | $56.15M | $55.45M | $66.06M | $17.83M | $10.13M | $10.94M | $13.19M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $29.79M | $27.62M | $62.53M | $62.83M | $62.52M | $73.55M | $82.62M | $73.98M | - | - |
| Stockholders' Equity | ($11.71M) | ($5.90M) | ($37.77M) | ($28.04M) | ($19.24M) | ($36.42M) | ($49.89M) | ($39.66M) | ($31.67M) | ($37.52M) |
| Retained Earnings | ($616.91M) | ($606.79M) | ($597.83M) | ($584.30M) | ($573.96M) | ($558.53M) | ($552.18M) | ($534.22M) | ($524.12M) | ($506.75M) |
Cash Flow
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($11.68M) | - | - | - | ($12.94M) | - | - | - |
| Investing Cash Flow | - | - | - | - | - | - | ($120.0K) | - | - | - |
| Financing Cash Flow | - | - | $2.20M | - | - | - | $11.85M | - | - | - |
| CapEx | - | - | - | - | - | - | $120.0K | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | ($13.06M) | - | - | - |
Ratios
| Metric | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -511.9% | -490.5% | -611.4% | - | -924.4% | -664.5% | -658.7% | - | -429.7% | -254.1% |
| EBITDA margin | -506.9% | -485.4% | -608.2% | - | -917.6% | -659.4% | -646.3% | - | -421.5% | -250.7% |
| Net margin | -509.7% | -459.2% | -656.7% | - | -1047.9% | -323.2% | -864.5% | - | -472.5% | -305.1% |
| Free cash flow margin | - | - | - | - | - | - | -628.5% | - | - | - |
| FCF / Net income | - | - | - | - | - | - | 0.73 | - | - | - |
| R&D / Revenue | 134.4% | 172.2% | 180.5% | - | 180.9% | 196.0% | 215.2% | - | 173.4% | 135.8% |
| SG&A / Revenue | 270.9% | 280.4% | 326.9% | - | 406.3% | 320.6% | 351.3% | - | 190.8% | 132.4% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -56.0% | -41.3% | -54.7% | - | -35.6% | -17.1% | -54.9% | - | -39.5% | -45.5% |
| Return on equity | 86.4% | 152.0% | 35.8% | - | 80.2% | 17.4% | 36.0% | - | 54.9% | 48.1% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.40 | 0.60 | 0.28 | 0.45 | 0.59 | 0.36 | 1.06 | 1.91 | 2.64 | 1.87 |
| Quick ratio | 0.24 | 0.36 | 0.19 | 0.36 | 0.52 | 0.30 | 0.78 | 1.49 | 2.25 | 1.44 |
| Cash ratio | 0.09 | 0.19 | 0.11 | 0.28 | 0.44 | 0.24 | 0.57 | 1.02 | 1.86 | 1.00 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | -12.2x | -8.5x | -9.0x | - | -10.1x | -11.2x |
| Equity multiplier | -1.54 | -3.68 | -0.66 | -1.24 | -2.25 | -1.02 | -0.66 | -0.87 | -1.39 | -1.06 |
| Liabilities / Assets | 1.65 | 1.27 | 2.53 | 1.81 | 1.44 | 1.98 | 2.52 | 2.16 | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | 0.09 | 0.08 | - | 0.03 | 0.05 | 0.06 | - | 0.08 | 0.15 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 374d | 243d | 281d | - | 282d | 251d | 232d | - | 157d | 168d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 17.8x | 38.6x | 7.4x | - | 67.2x | 290.9x | 75.2x | - | 18.5x | 423.2x |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 34.9% | -0.6% | -0.8% | - | -60.0% | -66.8% | -71.3% | - | -50.5% | -11.7% |
| Revenue CAGR (3y) | -35.6% | -33.7% | -33.3% | - | -34.5% | -8.4% | -6.5% | - | 29.9% | 48.5% |
| Revenue CAGR (5y) | 3.4% | 1.6% | 2.9% | - | -9.8% | -13.0% | -2.1% | - | 27.1% | 44.0% |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 25.3% | 26.6% | 7.9% | - | 13.9% | 13.1% | 7.9% | - | -29.4% | -39.3% |
| Net income growth (YoY) | 34.4% | -41.2% | 24.7% | - | 11.2% | 64.8% | -8.9% | - | -24.4% | -44.6% |
| EPS growth (YoY) | 83.5% | 92.0% | 99.5% | - | 99.2% | 98.4% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | 9.7% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 39.1% | 83.8% | 24.3% | 29.3% | 39.3% | 2.9% | -94.5% | -207.3% | -1185.8% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Product / service
$14.39M totalProduct$6.77M · 47.1%
Product Consumables$4.84M · 33.7%
Product Instruments$1.33M · 9.2%
Service$476.0K · 3.3%
Contribution$423.0K · 2.9%
Contribution Revenue$423.0K · 2.9%
Instrument Rentals$124.0K · 0.9%
Geographic
$4.00M totalNon Us$2.70M · 67.5%
IT$1.30M · 32.5%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing T2 Biosystems against the 5 most active filers in the same SIC group.