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Jun 30, 2024
BioNano Q2 2024 Earnings Report
Reported a decrease in revenue, but saw growth in the OGM installed base and advancements in software.
Key Takeaways
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.
Q2 2024 revenue was $7.8 million, a 10% decrease from Q2 2023.
The total installed base of OGM systems reached 363, a 29% increase over Q2 2023.
6,165 nanochannel array flowcells were sold in Q2 2024, a 13% decrease from Q2 2023.
A new Category I CPT code was established for OGM use in cytogenomic genome-wide analysis.
Revenue by Segment
Forward Guidance
Bionano expects revenue for the third quarter of 2024 to be $7.9 to $8.9 million and full year 2024 revenue guidance of $36.0 to $40.0 million.
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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