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Jun 30, 2021
BioNano Q2 2021 Earnings Report
Bionano Genomics reported a significant revenue increase driven by Saphyr system growth and advancements in OGM technology.
Key Takeaways
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.
Total revenue increased by 226% year-over-year, reaching $3.9 million.
Shipped 13 Saphyr systems, increasing the installed base to 121.
Cash and cash equivalents totaled $333 million at the end of the quarter.
Gross margin was 37%, up from 33% in the previous quarter.
Revenue by Segment
Forward Guidance
Bionano anticipates several milestones for the remainder of 2021, focusing on driving global adoption of Saphyr, expanding assay menus, and achieving an installed base of 150 systems.
Positive Outlook
- Commercial release of prenatal assays in Q3 2021.
- 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.
- Initial prototype of next-gen high throughput Saphyr 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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