T2 Biosystems GAAP EPS of -$1.32 misses by $0.07, revenue of $2.1M misses by $0.23M
- T2 Biosystems press release (NASDAQ:TTOO): Q1 GAAP EPS of -$1.32 misses by $0.07.
- Revenue of $2.1M (-71.0% Y/Y) misses by $0.23M.
- Shares +6% PM.
- The company reiterates its FY2023 financial outlook and continues to expect total sepsis and related product revenue of $11.0 million to $13.0 million, representing growth of 31% to 55%, compared to $8.4 million in 2022. Given the focus on product revenue, the company is not providing guidance on research and contribution revenue.