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BioNano
🇺🇸 NASDAQ:BNGO
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•
Dec 31, 2021

BioNano Q4 2021 Earnings Report

Reported financial results for the fourth quarter and full year ended December 31, 2021, with revenue increased and strategic acquisitions made.

Key Takeaways

Bionano Genomics reported a 58% increase in revenue for Q4 2021 compared to the same period in 2020, with a record revenue of $6.3 million. The company expanded its installed base of Saphyr systems and acquired BioDiscovery. The company ended the year with $250.6 million in cash, cash equivalents, and available-for-sale securities.

Revenue for the fourth quarter of 2021 was $6.3 million, up 58% from the same period in 2020.

Expanded the installed base of Saphyr systems from 141 at the end of Q3 to 164 at the end of Q4.

Sold 3,204 nanochannel array flow cells during the quarter ended December 31, 2021, which represents 29% growth over the same quarter in 2020.

Acquired BioDiscovery, Inc., including its industry-leading software, NxClinical, to accelerate and broaden Bionano’s position in digital cytogenetics and comprehensive genome analysis.

Total Revenue
$6.3M
Previous year: $3.99M
+57.9%
EPS
-$0.8
Previous year: -$0.5
+60.0%
Gross Profit
$239K
Previous year: $1.18M
-79.7%
Cash and Equivalents
$24.6M
Previous year: $38.4M
-36.1%
Total Assets
$377M
Previous year: $60.4M
+523.8%

BioNano

BioNano

BioNano Revenue by Segment

Forward Guidance

Bionano expects full year 2022 revenue to be in the range of $24 million to $27 million, which would represent a range of 33% to 50% growth over full year 2021 revenue.

Positive Outlook

  • Receive IRB approval for hematological study in Q1 2022
  • Apply for category 1 CPT code for OGM in Q1 2022
  • Site selection complete and enrollment commencement for hematological malignancy study in Q2 2022
  • Data generation commencement for prenatal study in Q2 2022
  • Bionano Labs test menu expanded to include genetic disease and hematological malignancies in Q3 2022

Challenges Ahead

  • Completion of postnatal study (enrollment, analysis and assessment of all primary endpoints) in Q4 2022
  • Release labeling protocol 2.0 and SP Next DNA isolation protocol in Q4 2022
  • Pre-commercial version of new high throughput imaging system for OGM system running in the field in Q4 2022
  • Interim publication on prenatal study in Q4 2022
  • Installed base of 240 Saphyr systems in Q4 2022, which would represent at least a 45% growth from year-end 2021

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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