T2 Biosystems, Inc. (TTOO) Balance Sheet
TTOO balance sheet, 2023
December 31, 2023 · U.S. dollars$34.8M assets = $62.8M liabilities + −$28.0M equity
Liabilities exceed assets: shareholders’ equity is negative (−$28.0M).
Both columns are drawn to the same scale: what TTOO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TTOO financial health
Descriptive bands, not a rating. Fiscal 2023.
TTOO balance sheet trends, 2014–2023
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $78.8M2014 | $34.8M2023 | −8.7%/yr | |
| Total liabilities | $25.8M2014 | $62.8M2023 | +10.4%/yr | |
| Shareholders’ equity | $53.0M2014 | −$28.0M2023 | — | |
| Cash & short-term investments | $73.8M2014 | $15.7M2023 | −15.8%/yr | |
| Total debt | $21.0M2014 | $49.5M2023 | +10.0%/yr | |
| Net cash (debt) | $52.9M2014 | −$33.8M2023 | −$86.7M | |
| Working capital | $70.5M2014 | −$31.0M2023 | −$101.4M | |
| Current ratio | 15.502014 | 0.452023 | −15.05 | |
| Debt / equity | 0.402014 | 6.522020 | +6.13 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TTOO assets
TTOO liabilities and equity
TTOO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TTOO balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $15.7M | $10.3M | $32.2M | $42.2M | $11.0M | $50.8M | $41.8M | $73.5M | $73.7M | $73.8M |
| Cash & equivalents | $15.7M | $10.3M | $22.2M | $16.8M | $11.0M | $50.8M | $41.8M | $73.5M | $73.7M | $73.8M |
| Short-term investments | — | $0 | $10.0M | $25.4M | $0 | — | $0 | $0 | $0 | $80,000 |
| Receivables | $1.4M | $2.2M | $5.1M | $5.1M | $2.8M | $1.8M | $467,000 | $327,000 | $369,000 | $201,000 |
| Inventory | $4.8M | $4.3M | $3.9M | $3.6M | $3.6M | $2.7M | $1.3M | $803,000 | $683,000 | $115,000 |
| Other current assets | $3.3M | $2.6M | $3.1M | $2.7M | $1.4M | $1.3M | $708,000 | $820,000 | $860,000 | $1.2M |
| Total current assets | $25.2M | $19.4M | $44.4M | $53.6M | $18.9M | $56.6M | $44.3M | $75.4M | $75.6M | $75.3M |
| Property, plant & equipment (net) | $9.1M | $13.3M | $14.4M | $14.8M | $9.2M | $7.3M | $10.0M | $13.6M | $10.7M | $2.8M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $10.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $555,000 | $1.7M | $1.7M | $687,000 | $386,000 | $386,000 | $528,000 | $541,000 | $719,000 | $740,000 |
| Total assets | $34.8M | $34.4M | $60.5M | $79.1M | $28.5M | $64.3M | $54.9M | $89.6M | $86.9M | $78.8M |
| Liabilities | ||||||||||
| Accounts payable | $1.5M | $1.3M | $2.8M | $2.1M | $3.8M | $744,000 | $648,000 | $962,000 | $1.2M | $735,000 |
| Short-term debt | $42.9M | $1.4M | $1.2M | $1.2M | $44.9M | $42.6M | $40.7M | $1.6M | $4.7M | $695,000 |
| Deferred revenue | $224,000 | $172,000 | $518,000 | $230,000 | $285,000 | $697,000 | $1.7M | $2.4M | $2.1M | $80,000 |
| Total current liabilities | $56.2M | $10.1M | $11.7M | $9.8M | $60.6M | $52.3M | $51.8M | $9.9M | $12.3M | $4.9M |
| Long-term debt | $0 | $49.7M | $47.8M | $45.2M | $0 | $0 | $1.0M | $39.5M | $26.2M | $20.7M |
| Lease obligations | $8.2M | $9.6M | $9.4M | $10.5M | $3.9M | $760,000 | $977,000 | $1.1M | — | — |
| Other long-term liabilities | $6.7M | $14.2M | $14.0M | $15.3M | $1.9M | $625,000 | $731,000 | $841,000 | $1.5M | $301,000 |
| Total liabilities | $62.8M | $74.4M | $73.4M | $70.4M | $62.5M | $52.9M | $53.5M | $50.2M | $40.0M | $25.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $4,000 | $8,000 | $166,000 | $147,000 | $49,000 | $44,000 | $36,000 | $30,000 | $24,000 | $20,000 |
| Retained earnings (deficit) | −$584.3M | −$534.5M | −$472.2M | −$423.0M | −$376.2M | −$317.2M | −$266.1M | −$203.7M | −$148.9M | −$103.6M |
| Treasury stock | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Accumulated other comprehensive income | $0 | — | −$4,000 | $9,000 | $0 | −$11.3M | −$9.1M | −$7.1M | −$4.8M | −$3.3M |
| Minority interest | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | −$28.0M | −$40.0M | −$12.9M | $8.7M | −$34.0M | $11.4M | $1.3M | $39.3M | $46.9M | $53.0M |
| Key figures | ||||||||||
| Total debt | $49.5M | $59.2M | $58.3M | $56.9M | $44.8M | $43.1M | $42.7M | $41.9M | $32.0M | $21.0M |
| Net cash (debt) | −$33.8M | −$48.9M | −$26.1M | −$14.7M | −$33.7M | $7.7M | −$882,000 | $31.6M | $41.6M | $52.9M |
| Working capital | −$31.0M | $9.3M | $32.7M | $43.8M | −$41.7M | $4.3M | −$7.5M | $65.6M | $63.3M | $70.5M |
| Tangible book value | −$28.0M | −$40.0M | −$12.9M | $8.7M | −$34.0M | $11.4M | $1.3M | $39.3M | $46.9M | $53.0M |
| Current ratio | 0.45 | 1.92 | 3.80 | 5.47 | 0.31 | 1.08 | 0.86 | 7.63 | 6.16 | 15.50 |
| Quick ratio | 0.30 | 1.23 | 3.20 | 4.83 | 0.23 | 1.01 | 0.82 | 7.47 | 6.03 | 15.24 |
| Debt / equity | — | — | — | 6.52 | — | 3.79 | 31.85 | 1.06 | 0.68 | 0.40 |
| Equity / assets | −80.6% | −116.2% | −21.3% | 11.0% | −119.4% | 17.7% | 2.4% | 43.9% | 54.0% | 67.2% |
| Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.1M | $4.2M | $6.2M | $15.7M | $24.3M | $16.1M | $10.1M | $10.3M | $20.4M | $13.2M | $19.4M | $32.2M |
| Cash & equivalents | $2.1M | $4.2M | $6.2M | $15.7M | $24.3M | $16.1M | $10.1M | $10.3M | $20.4M | $13.2M | $9.4M | $22.2M |
| Short-term investments | — | — | — | — | — | — | — | $0 | $0 | $0 | $10.0M | $10.0M |
| Receivables | $2.0M | $1.3M | $1.6M | $1.4M | $1.1M | $1.3M | $1.3M | $2.2M | $1.6M | $2.7M | $4.4M | $5.1M |
| Inventory | $3.8M | $5.2M | $4.7M | $4.8M | $4.3M | $4.3M | $4.9M | $4.3M | $4.2M | $5.7M | $5.2M | $3.9M |
| Other current assets | $1.8M | $2.3M | $3.1M | $3.3M | $3.1M | $2.1M | $2.5M | $2.6M | $2.7M | $3.1M | $4.6M | $3.1M |
| Total current assets | $9.8M | $13.0M | $15.6M | $25.2M | $32.9M | $23.9M | $18.9M | $19.4M | $28.9M | $24.7M | $33.5M | $44.4M |
| Property, plant & equipment (net) | $7.7M | $8.2M | $8.6M | $9.1M | $9.8M | $12.7M | $13.2M | $13.3M | $13.8M | $13.6M | $14.2M | $14.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $551,000 | $552,000 | $553,000 | $555,000 | $616,000 | $600,000 | $586,000 | $1.7M | $1.3M | $1.3M | $1.3M | $1.7M |
| Total assets | $18.1M | $21.7M | $24.8M | $34.8M | $43.3M | $37.1M | $32.7M | $34.4M | $44.0M | $39.6M | $49.0M | $60.5M |
| Liabilities | ||||||||||||
| Accounts payable | $4.2M | $1.7M | $1.9M | $1.5M | $1.1M | $2.2M | $3.1M | $1.3M | $2.1M | $5.2M | $3.4M | $2.8M |
| Short-term debt | $13.6M | $13.5M | $43.3M | — | $44.0M | $52.1M | $1.4M | $1.4M | $1.3M | $1.2M | $1.2M | $1.2M |
| Deferred revenue | $233,000 | $237,000 | $185,000 | — | $276,000 | $265,000 | $149,000 | $172,000 | $163,000 | $142,000 | $338,000 | $518,000 |
| Total current liabilities | $24.4M | $21.8M | $56.3M | $56.2M | $55.5M | $66.1M | $17.8M | $10.5M | $10.9M | $13.2M | $12.7M | $11.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $50.1M | $49.7M | $49.2M | $48.7M | $48.3M | $47.8M |
| Lease obligations | $7.0M | $7.4M | $7.8M | $8.2M | $8.6M | $8.9M | $9.2M | $9.6M | $9.9M | $10.0M | $10.3M | $9.4M |
| Other long-term liabilities | $5.4M | $5.8M | $6.3M | $6.7M | $7.1M | $7.5M | $14.7M | $14.2M | $15.5M | $15.2M | $13.8M | $14.0M |
| Total liabilities | $29.8M | $27.6M | $62.5M | $62.8M | $62.5M | $73.6M | $82.6M | $74.4M | $75.6M | $77.1M | $74.7M | $73.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $18,000 | $17,000 | $6,000 | — | $4,000 | $242,000 | $21,000 | $8,000 | $7,000 | $198,000 | $171,000 | $166,000 |
| Retained earnings (deficit) | −$616.9M | −$606.8M | −$597.8M | −$584.3M | −$574.0M | −$558.5M | −$552.2M | −$534.5M | −$524.1M | −$506.7M | −$488.7M | −$472.2M |
| Accumulated other comprehensive income | — | — | $0 | — | — | — | — | — | — | — | −$11,000 | −$4,000 |
| Total shareholders' equity | −$11.7M | −$5.9M | −$37.8M | −$28.0M | −$19.2M | −$36.4M | −$49.9M | −$40.0M | −$31.7M | −$37.5M | −$25.7M | −$12.9M |
| Key figures | ||||||||||||
| Total debt | $18.9M | $19.2M | $49.5M | — | $49.5M | $59.5M | $59.4M | $59.2M | $59.1M | $57.5M | $58.5M | $57.1M |
| Net cash (debt) | −$16.9M | −$15.0M | −$43.3M | — | −$25.2M | −$43.4M | −$49.2M | −$48.9M | −$38.7M | −$44.2M | −$39.1M | −$24.9M |
| Working capital | −$14.6M | −$8.8M | −$40.7M | −$31.0M | −$22.6M | −$42.2M | $1.1M | $8.9M | $17.9M | $11.5M | $20.8M | $32.7M |
| Tangible book value | −$11.7M | −$5.9M | −$37.8M | −$28.0M | −$19.2M | −$36.4M | −$49.9M | −$40.0M | −$31.7M | −$37.5M | −$25.7M | −$12.9M |
| Book value per share | −$0.65 | −$0.42 | — | — | — | −$4.50 | −$2.46 | −$5.18 | −$4.49 | — | — | — |
| Shares outstanding | 17.9M | 14.1M | — | — | — | 8.1M | 20.3M | 7.7M | 7.1M | — | — | — |
| Current ratio | 0.40 | 0.60 | 0.28 | 0.45 | 0.59 | 0.36 | 1.06 | 1.85 | 2.64 | 1.87 | 2.64 | 3.80 |
| Quick ratio | 0.17 | 0.25 | 0.14 | 0.30 | 0.46 | 0.26 | 0.64 | 1.19 | 2.01 | 1.21 | 1.87 | 3.20 |
| Equity / assets | −64.8% | −27.2% | −152.6% | −80.6% | −44.4% | −98.1% | −152.4% | −116.2% | −72.1% | −94.7% | −52.3% | −21.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 1, 2024); data from EODHD.
TTOO financial position
At the end of fiscal 2023 (December 31, 2023), T2 Biosystems had total assets of $34.8 million (up 1.2% from a year earlier), total liabilities of $62.8 million and shareholders' equity of -$28.0 million. It held $15.7 million in cash and short-term investments against $49.5 million of debt, net debt of $33.8 million. Its current ratio was 0.45. In the latest quarter (ended September 30, 2024) total assets were $18.1 million and equity -$11.7 million.
Related: TTOO income statement, TTOO cash flow statement, TTOO key metrics. See the TTOO stock overview for the latest quote and news.
TTOO balance sheet FAQ
What are T2 Biosystems's total assets?
T2 Biosystems reported total assets of $34.8 million at the end of fiscal 2023 (December 31, 2023), compared with $34.4 million a year earlier.
How much debt does T2 Biosystems have?
T2 Biosystems had $49.5 million of total debt at the end of fiscal 2023, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does T2 Biosystems have?
T2 Biosystems held $15.7 million in cash and short-term investments at the end of fiscal 2023; with $49.5 million of debt that is net debt of $33.8 million.
What is T2 Biosystems's book value?
T2 Biosystems's shareholders' equity (book value) was -$28.0 million at the end of fiscal 2023.
What is T2 Biosystems's current ratio?
T2 Biosystems had current assets of $25.2 million and current liabilities of $56.2 million, a current ratio of 0.45 (current liabilities exceed current assets).