T2 Biosystems Reports Net Loss of $17.96 Million in Q1 2023

T2 Biosystems, Inc.(TTOO), a leading company in the field of medical diagnostics, released its financial statements for the first quarter of 2023. The company reported a net loss of $17.96 million during the period, reflecting various factors impacting its operations. Despite the loss, T2 Biosystems generated revenue of $2.08 million, indicating ongoing business activity. The company's financial performance in Q1 2023 provides insights into its current financial position and its ability to navigate challenges in the industry.

Financial Statements

The condensed consolidated balance sheets of T2 Biosystems as of March 31, 2023, and December 31, 2022, reveal the company's assets, liabilities, and stockholders' deficit. The total assets decreased from $34.33 million in December 2022 to $32.73 million in March 2023. The liabilities and stockholders' deficit increased from $73.98 million to $82.62 million during the same period.

Revenue and Net Income/Loss