BioNano Q4 2024 Earnings Report
Key Takeaways
In Q4 2024, BioNano generated $8.16 million in revenue, a 24% decline year-over-year due to discontinued clinical services revenue. However, the company improved its GAAP gross margin to 42% and reduced operating expenses to $15.36 million from $27.39 million a year earlier. The quarter ended with a net loss of $20.13 million.
Total revenue for Q4 2024 was $8.16 million, down 24% YoY.
GAAP gross margin improved to 42%, compared to 23% in Q4 2023.
Operating expenses were reduced to $15.36 million, down from $27.39 million.
Net loss for the quarter was $20.13 million.
BioNano
BioNano
BioNano Revenue by Segment
Forward Guidance
BioNano expects 2025 revenue between $29.0 million and $32.0 million, with continued cost savings, expanded OGM system installations, and strong customer adoption aided by favorable reimbursement changes.
Positive Outlook
- Revenue guidance for 2025 set between $29.0M and $32.0M
- Q1 2025 revenue projected at $6.2M to $6.3M
- Installation of 15 to 20 new OGM systems expected
- Stratys system and VIA software expected to drive adoption
- Cash runway into Q1 2026 supported by capital efficiency and debt restructuring
Challenges Ahead
- Revenue declined 24% YoY in Q4 2024
- Clinical services revenue discontinued, reducing overall revenue base
- Significant net loss of $20.13M in Q4
- Declining total assets from $214M in 2023 to $76.7M in 2024
- Cash and equivalents dropped from $17.9M to $9.2M YoY