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Mar 31
BioNano Q1 2025 Earnings Report
BioNano reported a decline in revenue and narrowed net loss in Q1 2025 amid a strategic shift and improved gross margin.
Key Takeaways
BioNano Genomics delivered Q1 2025 revenue of $6.5 million, down 26% year-over-year, primarily due to reduced instrument and discontinued clinical services sales. Despite this, the company improved its gross margin to 46% and significantly reduced its operating expenses, resulting in a narrowed net loss.
Revenue declined to $6.5 million from $8.8 million in Q1 2024, driven by discontinued services and lower instrument sales.
Gross margin improved to 46%, up from 32% in the prior year quarter.
Net loss narrowed to $3.1 million, significantly better than the $31.4 million loss in Q1 2024.
Saphyr installed base grew 9% year-over-year to 379 systems.
BioNano
BioNano
BioNano Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService and Other Revenue
CapyFin.com Forward Guidance
BioNano expects full-year 2025 revenue to range from $26.0M to $30.0M and plans to install 15–20 new OGM systems during the year.
Positive Outlook
- Full-year 2025 revenue guidance reaffirmed at $26.0M to $30.0M.
- Q2 2025 revenue projected between $6.3M and $6.8M.
- Cost savings have extended cash runway into Q1 2026.
- Operational efficiency and restructuring have significantly lowered expenses.
- Continued global adoption of OGM and strong publication support.
Challenges Ahead
- Revenue fell 26% year-over-year due to discontinued services and reduced instrument sales.
- Instrument sales decreased to $0.7 million from $1.6 million in Q1 2024.
- Clinical services now contribute no revenue post-discontinuation.
- Consumable sales growth limited to existing base after adjusting for new customers.
- Continued net losses highlight need for further revenue growth or funding.
Revenue & Expenses
Visualization of income flow from segment revenue to net income