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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.
BioNano
BioNano
BioNano Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService and Other Revenue
CapyFin.com 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