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Mar 31, 2021
BioNano Q1 2021 Earnings Report
Bionano Genomics reported a 179% year-over-year revenue increase driven by record sales of consumables and growth in the Saphyr installed base.
Key Takeaways
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.
Total revenue increased by 179% year-over-year, reaching $3.2 million.
Gross margin increased to 33% from 25% in the same period last year.
Cash and cash equivalents totaled $362 million as of March 31, 2021.
The company is progressing with its commercialization strategy and driving Saphyr utilization globally.
Revenue by Segment
Forward Guidance
Bionano Genomics is focused on driving global adoption of Saphyr and anticipates achieving key milestones throughout 2021.
Positive Outlook
- Accreditation of Saphyr based LDTs for ALL & FSHD in certain EU markets in Q2 2021
- Commercial release of prenatal assays and expansion of the menu of pediatric assays in Q3 2021
- Interim publication of results from pediatric clinical study in Q4 2021
- Validation of LDTs by 3 sites in both prenatal and pediatric clinical studies in Q4 2021
- Reaching an installed base of 150 systems, a 50% increase over year-end 2020 in Q4 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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