Bionano Genomics Reports Q1 2025 Financial Results

Bionano Genomics ( (BNGO) ) has released its Q1 earnings. Here is a breakdown of the information Bionano Genomics presented to its investors.

Bionano Genomics, Inc. is a company specializing in genome analysis solutions, focusing on optical genome mapping (OGM) to aid researchers and clinicians in understanding complex biological and medical questions. The company operates within the biotechnology sector, offering unique genome analysis and diagnostic services.

In its first quarter of 2025, Bionano Genomics reported a shift in strategy towards enhancing revenue through its base of routine users of OGM and VIA™ software. Despite a decrease in total revenue compared to the previous year, the company achieved improvements in gross margins and reduced operating expenses, reflecting significant cost-cutting measures.

Key financial highlights include a 26% decrease in total revenue to $6.5 million, primarily due to discontinued clinical services and reduced instrument sales. However, the company improved its GAAP gross margin to 46% from 32% in the previous year. Operating expenses also saw a substantial reduction, with GAAP operating expenses dropping by 66% year-over-year.

Bionano Genomics continues to make strides in the scientific community, with several publications highlighting the utility of OGM in diagnosing blood cancers and genetic disorders. The company also completed a $10 million direct offering to bolster its financial position.

Looking ahead, Bionano Genomics anticipates full-year revenue between $26.0 million and $30.0 million, with plans to install 15 to 20 new OGM systems. The company aims to maintain its cash runway into early 2026 through ongoing cost-saving initiatives and strategic financial management.