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Jun 30
BioNano Q2 2025 Earnings Report
Bionano reported its second quarter 2025 financial results, highlighting a strategic shift towards routine users of optical genome mapping (OGM) and VIA™ software, which drove revenue and gross profit.
Key Takeaways
Bionano Genomics reported total revenue of $6.7 million for Q2 2025, a 13% decrease year-over-year, primarily due to discontinued clinical services and a strategic shift away from new instrument placements. Despite this, the company achieved a significant increase in gross margin to 52% and reduced operating expenses by 42%, demonstrating the effectiveness of its new strategy focused on routine OGM users and cost reduction.
Total revenue for Q2 2025 was $6.7 million, a 13% decrease from Q2 2024, influenced by discontinued clinical services and a strategic shift in instrument sales.
Gross margin significantly improved to 52% in Q2 2025, up from 33% in Q2 2024, reflecting the success of the company's new strategy and cost reduction efforts.
Operating expenses were reduced by 42% to $11.3 million, and non-GAAP operating expenses decreased by 53% to $8.8 million, contributing to improved financial performance.
The installed base of OGM systems increased by 4% to 378, and nanochannel array flowcells sold increased by 17% to 7,233, indicating growing utilization among routine users.
BioNano
BioNano
BioNano Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService and Other Revenue
CapyFin.com Forward Guidance
Bionano reiterated its full-year 2025 revenue guidance and initiated Q3 2025 revenue guidance. The company also increased its expectations for new OGM installations for the full year and expects cash runway into Q1 2026 due to cost savings and capital efficiency.
Positive Outlook
- Reiterating full year 2025 revenue guidance in the range of $26.0 million to $30.0 million.
- Initiating Q3 2025 revenue guidance in the range of $6.7 million to $7.2 million.
- Increasing new OGM installation expectations to 20 to 25 for full year 2025, up from prior expectations of 15 to 20.
- Expected cash runway into the first quarter of 2026.
- Cash runway enabled by cost savings, capital efficiency, debt restructuring, and equity capital raised.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- The revenue guidance for Q3 2025 ($6.7M-$7.2M) is flat to slightly up compared to Q2 2025 ($6.7M), indicating limited immediate growth.
- The full year revenue guidance of $26.0M-$30.0M implies a continued decline from previous periods if current trends persist.
- Reliance on cost savings and capital efficiency for cash runway suggests ongoing financial discipline is critical.
- The need for debt restructuring and equity capital raised highlights past financial challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income