BioNano Earnings Reports

In Q4 2024, BioNano generated $8.16 million in revenue, a 24% decline year-over-year due to discontinued clinical services revenue. However, the company improved its GAAP gross margin to 42% and reduced operating expenses to $15.36 million from $27.39 million a year earlier. The quarter ended with a net loss of $20.13 million.

Bionano reported a 35% decrease in revenue compared to Q3 2023, with total revenue of $6.1 million. The company highlighted improving momentum for OGM utilization and flowcell sales, but revenues were impacted by delayed system orders and a write-down of aged receivables. Cash burn was significantly lower than the prior year period due to the reorganization plan to decrease expenses.

Bionano Genomics reported a decrease in revenue for Q2 2024 compared to Q2 2023, but experienced growth in its OGM installed base. The company also highlighted key advancements in its VIA software and the establishment of a new CPT code for OGM.

Bionano Genomics reported an 18% increase in revenue for Q1 2024 compared to Q1 2023, reaching $8.8 million. The company also saw growth in its installed base of OGM systems and flowcell sales. Efforts to reduce cash burn and operating expenses continued with expanded cost savings initiatives.

Bionano Genomics reported a 30% increase in Q4 2023 revenue compared to Q4 2022, reaching $10.7 million. The company's ELEVATE strategy is working, with progress in OGM installed base and consumables unit sales.

Bionano Genomics reported a 29% increase in revenue compared to Q3 2022, reaching $9.3 million. The company focused on expanding its installed base of Saphyr systems and increasing flowcell sales. Cost reduction initiatives were implemented to improve profitability.

Bionano Genomics reported record revenues and consumable sales in Q2 2023, with total revenue reaching $8.7 million, a 30% increase compared to Q2 2022. The installed base of Saphyr systems grew by 43% year-over-year, and the company announced new products and software updates. The company is implementing cost savings actions which are expected to be seen in second half operating expenses.

Bionano Genomics reported a 30% increase in revenue for Q1 2023 compared to Q1 2022, driven by growth in the Saphyr system installed base and flowcell sales. The company's gross margin also improved, and they announced an initiative to reduce cash expenditures.

Bionano Genomics reported a 30% increase in Q4 revenue compared to Q4 2021, reaching $8.2 million. The company's gross margin for the quarter was 22%, a significant increase from 4% in the same period last year. Bionano exceeded its 2022 revenue guidance and saw an increase in the adoption of optical genome mapping (OGM).

Bionano Genomics reported a 55% year-over-year revenue growth in Q3 2022, reaching $7.2 million, the highest quarterly revenue to date. The company is on track to achieve all 2022 ELEVATE! milestones and maintains a strong balance sheet with $180.2 million in cash, cash equivalents, and available-for-sale securities.

Bionano Genomics reported a record revenue of $6.7 million for Q2 2022, a 73% increase compared to Q2 2021. The company also grew its installed base of Saphyr systems and sold 3,394 nanochannel array flowcells. They ended the quarter with $187.3 million in cash, cash equivalents, and available-for-sale securities.

Bionano Genomics reported strong Q1 2022 results, with a record revenue of $5.7 million, representing 80% year-over-year growth. The company expanded its Saphyr system installed base and launched the Rare Undiagnosed Genetic Disease (RUGD) initiative. They ended the quarter with a strong balance sheet, holding $216.5 million in cash, cash equivalents, and available-for-sale securities.

Bionano Genomics reported a 58% increase in revenue for Q4 2021 compared to the same period in 2020, with a record revenue of $6.3 million. The company expanded its installed base of Saphyr systems and acquired BioDiscovery. The company ended the year with $250.6 million in cash, cash equivalents, and available-for-sale securities.

Bionano Genomics reported a 112% year-over-year increase in total revenue, reaching $4.7 million in Q3 2021. The company expanded its installed base of Saphyr systems and closed the acquisition of BioDiscovery, transitioning into a data solutions provider. They ended the quarter with $326.1 million in cash and short-term investments.

Bionano Genomics reported a 226% year-over-year increase in total revenue, reaching $3.9 million for Q2 2021. The company highlighted the expansion of its Saphyr installed base, key adoptions in cytogenetics laboratories, and a strong cash position of $333 million.

Bionano Genomics reported a strong start to 2021, with a significant revenue increase driven by record consumables sales and Saphyr adoption. The company highlighted its solid financial position with $362 million in cash and is on track to meet its 2021 milestones.

Bionano Genomics reported a 43% increase in revenue for Q4 2020 compared to the same period in 2019, driven primarily by increased service revenue from the Lineagen subsidiary. The company's financial position was solidified by raising approximately $335 million in Q1 2021.

Bionano Genomics reported a total revenue of $2.2 million for Q3 2020, which is up 86% sequentially from the prior quarter, but down 33.7% compared to the same period in 2019. The company's cash and cash equivalents were $18.9 million as of September 30, 2020, compared to $17.3 million at the end of 2019. The company also acquired Lineagen, which added $0.4 million to revenue.

Bionano Genomics reported a decrease in total revenue by 45.7% to $1.2 million for Q2 2020, compared to $2.2 million for the same period in 2019, primarily due to the impact of COVID-19 on customer lab operations. The company highlighted progress in validating its Saphyr System and expanding its COVID-19 research consortium.

Bionano Genomics reported a decrease in revenue for Q1 2020, totaling $1.1 million compared to $1.8 million in Q1 2019, primarily due to COVID-19 related lab shutdowns. The net loss was $10.5 million, compared to a net loss of $7.8 million for the same period in 2019. The company's cash and cash equivalents were $8.1 million at the end of the quarter.

Bionano Genomics reported a decrease in total revenue for the fourth quarter of 2019, with a significant decrease in instrument revenue offset by an increase in consumable revenue. The company's net loss increased, attributed to higher operating expenses. Despite the financial results, the company highlighted the growing acceptance and recognition of their Saphyr system.