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BioNano Genomics Inc (BNGO)
NASDAQ:BNGO
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-5.9Last Year’s EPS
-36Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 31, 2025
|% Change Since: 11.11%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative aspects. While there were significant improvements in gross margins, cost reductions, and strategic shifts that focused on routine users, the company faced challenges with decreased total revenue and a reduction in instrument sales. The outlook for 2025 indicates flattish growth, balancing the achievements with existing concerns.Company Guidance
In the Bionano Fourth Quarter 2024 Earnings Conference Call, the company reported a total revenue of $8.2 million for Q4 2024, marking a 24% decline compared to Q4 2023, primarily due to the cessation of clinical service revenues. Despite this, Bionano achieved a substantial improvement in GAAP gross margin, which rose to 42% from 23% in Q4 2023, and non-GAAP gross margin also increased to 42% from 24%. Operating expenses were significantly reduced, with GAAP operating expenses decreasing from $27.4 million in Q4 2023 to $15.4 million in Q4 2024, and non-GAAP operating expenses dropping from $26.6 million to $10.6 million. The company reported cash, cash equivalents, and available-for-sale securities totaling $20.9 million as of December 31, 2024, and successfully extended its cash runway into Q1 2026. For the full year 2024, product revenues slightly increased to $27 million, with consumables and software sales showing growth. Bionano also experienced a 15% increase in nano channel array flow cell sales, reaching 30,307 units for the year. Looking ahead to 2025, Bionano expects full-year revenues between $29 million and $32 million and first-quarter revenues between $6.2 million and $6.3 million, focusing on existing routine use sites and strategic growth in the optical genome mapping sector.Improved Gross Margin
GAAP gross margin for Q4 2024 was 42%, significantly higher than the 23% reported in Q4 2023. Non-GAAP gross margin also increased to 42% from 24% in the previous year.
Cost Reduction Success
GAAP operating expense for Q4 2024 was $15.4 million, down from $27.4 million in Q4 2023. Non-GAAP operating expense decreased to $10.6 million from $26.6 million. This was attributed to cost savings initiatives and a reduced headcount.
Increased Consumables and Software Sales
Consumables sales increased by 14% to $12.8 million, while software sales grew by 11% to $6.2 million for the full year 2024.
Growth in Key Regions
Sales in the Americas increased by 9% and in the EMEA region by 10% in 2024 compared to 2023.
Routine User Focus Strategy
The company shifted its focus to support 118 routine use customers who account for over 80% of consumables purchases, leading to increased efficiency and profitability.
CPT Code for Optical Genome Mapping
The American Medical Association established a Category 1 CPT code for OGM use in hematologic malignancies, effective January 1, 2025.
Successful Fundraising
Completed a $10 million registered direct offering in January 2025 and raised net proceeds of $3.2 million through ATM sales in Q1 2025.
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BNGO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BNGO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 31, 2025 | $2.79 | $3.10 | +11.11% |
| Nov 13, 2024 | $16.61 | $15.35 | -7.59% |
| Aug 07, 2024 | $25.90 | $24.16 | -6.72% |
| May 08, 2024 | $55.20 | $58.95 | +6.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does BioNano Genomics Inc (BNGO) report earnings?
BioNano Genomics Inc (BNGO) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is BioNano Genomics Inc (BNGO) earnings time?
BioNano Genomics Inc (BNGO) earnings time is at May 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BNGO EPS forecast?
BNGO EPS forecast for the fiscal quarter 2025 (Q1) is -5.9.
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