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Dec 31, 2022
BioNano Q4 2022 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2022.
Key Takeaways
Bionano Genomics reported a 30% increase in Q4 revenue compared to Q4 2021, reaching $8.2 million. The company's gross margin for the quarter was 22%, a significant increase from 4% in the same period last year. Bionano exceeded its 2022 revenue guidance and saw an increase in the adoption of optical genome mapping (OGM).
Q4 revenue increased by 30% compared to Q4 2021, reaching $8.2 million.
Gross margin for Q4 2022 was 22%, compared to 4% in Q4 2021.
Installed base of Saphyr systems totaled 240 at year-end, a 46% increase over 2021.
Sold 4,781 flowcells in Q4 2022, a 49% increase over Q4 2021.
Revenue by Segment
Forward Guidance
Bionano expects full year 2023 revenue to be in the range of $35 million to $38 million. The company anticipates the installed base of OGM systems will total 325 by the end of 2023.
Positive Outlook
- Full year 2023 revenue expected to be in the range of $35 million to $38 million, representing a 26% to 37% growth over full year 2022 revenue.
- Installed base of OGM systems expected to total 325 by the end of 2023.
- Acquisition of Purigen Biosystems expected to accelerate the adoption of OGM.
- Well-positioned to execute on goal to drive value for stakeholders.
- Impressive year-over-year revenue growth of 30%.
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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