T2 Biosystems achieved Q2 2024 total revenue of $2.0 million, with record quarterly sepsis test revenue growing 27% YoY led by T2Bacteria and T2Resistance panel sales. Loss from operations improved 27% to $9.6 million compared to $13.1 million in Q2 2023. Net loss was $9.2 million ($0.66 per share) versus $6.3 million ($7.84 per share) last year. Cash position stood at $4.2 million as of June 30, 2024.The company executed contracts for 2 T2Dx Instruments internationally in Q2 and secured 6 additional instrument contracts in July 2024. Strategic progress includes signing distribution agreements in Qatar, Hong Kong, Malaysia, Indonesia, and Macau. The company strengthened its balance sheet by converting $30.0 million of CRG term loan debt into equity, reducing total debt and quarterly interest payments by approximately 80%.T2 Biosystems completed clinical studies for T2Lyme Panel launch as a laboratory developed test in Q3 2024 and submitted FDA 510(k) for expanded T2Candida Panel pediatric testing. The company maintains its 2024 guidance for sepsis product revenue of $10.0-11.0 million, representing 49-64% growth YoY.

T2 Biosystems achieved Q2 2024 total revenue of $2.0 million, with record quarterly sepsis test revenue growing 27% YoY led by T2Bacteria and T2Resistance panel sales. Loss from operations improved 27% to $9.6 million compared to $13.1 million in Q2 2023. Net loss was $9.2 million ($0.66 per share) versus $6.3 million ($7.84 per share) last year. Cash position stood at $4.2 million as of June 30, 2024.The company executed contracts for 2 T2Dx Instruments internationally in Q2 and secured 6 additional instrument contracts in July 2024. Strategic progress includes signing distribution agreements in Qatar, Hong Kong, Malaysia, Indonesia, and Macau. The company strengthened its balance sheet by converting $30.0 million of CRG term loan debt into equity, reducing total debt and quarterly interest payments by approximately 80%.T2 Biosystems completed clinical studies for T2Lyme Panel launch as a laboratory developed test in Q3 2024 and submitted FDA 510(k) for expanded T2Candida Panel pediatric testing. The company maintains its 2024 guidance for sepsis product revenue of $10.0-11.0 million, representing 49-64% growth YoY.