Bionano Genomics (BNGO)
NASDAQ:BNGO
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BioNano Genomics
(NASDAQ:BNGO)
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Rating:50Neutral
Price Target:
$1.00
▼(-38.27% Downside)
Action:ReiteratedDate:03/25/26
Score is held back primarily by weak financial performance (shrinking revenue and persistent losses/negative free cash flow) and a mixed-to-weak technical trend (below key longer-term moving averages). These are partly offset by a more constructive earnings call, including positive 2026 growth guidance, improving unit economics (gross margin/opex), and an expected debt retirement milestone, while valuation remains challenged due to continued losses and no dividend support.
Positive Factors
Recurring consumables & software mix
A rising consumables and software mix creates more predictable, recurring revenue tied to installed systems. As consumables pull-through grows, the business shifts from one-time instrument sales to higher-margin annuity-like streams, improving revenue durability and easing top-line volatility over months.
Negative Factors
Recent revenue decline & volatility
Declining and volatile revenue limits operating leverage and challenges realization of margin gains. Without consistent top-line growth, fixed-cost absorption and investments in go-to-market are constrained, making multi-quarter progress toward sustainable profitability harder to maintain.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables & software mix
A rising consumables and software mix creates more predictable, recurring revenue tied to installed systems. As consumables pull-through grows, the business shifts from one-time instrument sales to higher-margin annuity-like streams, improving revenue durability and easing top-line volatility over months.
Read all positive factors
BioNano Genomics (BNGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.20M
Dividend YieldN/A
Average Volume (3M)441.74K
Price to Earnings (P/E)―
Beta (1Y)1.59
Revenue Growth-13.84%
EPS Growth88.80%
CountryUS
Employees98
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-1.55
Shares Outstanding11,092,000
10 Day Avg. Volume111,857
30 Day Avg. Volume441,740
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.19
Price to Sales (P/S)0.29
P/FCF Ratio-0.51
Enterprise Value/Market Cap0.57
Enterprise Value/Revenue0.28
Enterprise Value/Gross Profit1.29
Enterprise Value/Ebitda-0.34
Forecast
1Y Price Target
$5.00Price Target Upside208.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-2.62
Revenue Forecast (FY)$33.54M
BioNano Genomics Business Overview & Revenue Model
Company Description
Bionano Genomics, Inc. provides genome analysis software solutions. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; ...
How the Company Makes Money
BioNano Genomics primarily makes money by selling and supporting an instrument-led consumables model centered on its optical genome mapping platform. Key revenue streams include: (1) Instrument sales: upfront revenue from selling OGM instruments (...
BioNano Genomics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how much revenue each business segment generates, highlighting which areas drive growth and which may need strategic adjustments.
Shows how much revenue each business segment generates, highlighting which areas drive growth and which may need strategic adjustments.
Data provided by:
The Fly
The FlyBioNano Genomics Earnings Call Summary
Earnings Call Date:Mar 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presented a mix of operational and commercial challenges alongside strong structural improvements. Management highlighted meaningful progress on profitability (1200 bps gross margin expansion), major operating expense reductions (~47% YoY), reimbursement wins (new CPT code and a 47% price increase), product and throughput upgrades, and scientific momentum with record publications. Offsetting these positives were modest revenue declines in 2025, Q4 supply constraints that limited consumable sales, a sizable Q4 software revenue timing hit (–22%), a concentrated customer base driving most consumable revenue, and relatively modest year-end liquidity. Management provided positive 2026 revenue guidance (5%–16% growth) and expects supply issues and debt retirement to help performance in 2026. Overall, the call leaned toward constructive execution progress and improving unit economics, while still requiring continued execution to translate margin and reimbursement gains into sustained top-line growth.Positive Updates
Full-Year Revenue and Guidance
Full-year 2025 revenue of $28.5M (down 7% YoY from $30.8M) with 2026 revenue guidance of $30M–$33M representing growth of ~5%–16% over 2025; Q1 2026 guidance of $6.5M–$6.7M (flat to +3%).
Negative Updates
Full-Year and Q4 Revenue Declines
Full-year 2025 revenue declined 7% YoY to $28.5M; Q4 2025 revenue of $8.0M was down 3% YoY from $8.2M, indicating near-term top-line pressure despite structural changes.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and Guidance
Full-year 2025 revenue of $28.5M (down 7% YoY from $30.8M) with 2026 revenue guidance of $30M–$33M representing growth of ~5%–16% over 2025; Q1 2026 guidance of $6.5M–$6.7M (flat to +3%).
Read all positive updates
Company Guidance
Bionano initiated 2026 revenue guidance of $30.0–$33.0 million (implying +5% to +16% vs. 2025’s $28.5M) and Q1 2026 guidance of $6.5–$6.7M (flat to +3% YoY), with management saying revenues should grow through the year consistent with seasonality and consumables volumes likely to track that revenue growth; they gave no specific systems-installation target but said installations could be comparable to 2025’s 32 systems. For context, as of 12/31/2025 the company had 321 customers with 387 systems installed (about 130 routine-use customers, ~40% of customers, operating ~175 systems or 45% of the base), sold 30,171 nanochannel array flow cells in 2025 (7,554 in Q4), and reported consumables+software revenue of $20.4M for the year (up 7% YoY) and $4.8M in Q4 (down 1%); routine-use customers drove ~83% of OGM consumables revenue, averaged ~$89K per routine customer, and ~60 validated routine sites accounted for ~56% of total consumables revenue and averaged ~$131K each. Financial posture supporting the guidance includes FY2025 non‑GAAP gross margin of 47% (Q4 43%), FY2025 non‑GAAP operating expense of $36.6M (Q4 $9.7M), cash, cash equivalents and AFS securities of $29.6M (including $10.3M restricted) with a runway into 2027, and senior secured convertible debt expected to be fully retired in May 2026.BioNano Genomics Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.51M | 30.78M | 36.12M | 27.80M | 17.98M |
| Gross Profit | 6.26M | 380.00K | 9.57M | 5.95M | 3.87M |
| EBITDA | -23.61M | -97.47M | -213.60M | -120.31M | -73.86M |
| Net Income | -26.39M | -112.02M | -232.49M | -132.60M | -72.44M |
Balance Sheet | |||||
| Total Assets | 73.58M | 76.67M | 214.40M | 307.50M | 377.10M |
| Cash, Cash Equivalents and Short-Term Investments | 13.26M | 9.47M | 66.77M | 113.19M | 250.61M |
| Total Debt | 6.92M | 27.30M | 79.41M | 11.67M | 10.70M |
| Total Liabilities | 29.16M | 41.30M | 118.25M | 58.10M | 39.98M |
| Stockholders Equity | 44.42M | 35.38M | 96.16M | 249.40M | 337.12M |
Cash Flow | |||||
| Free Cash Flow | -16.34M | -69.03M | -126.87M | -128.12M | -73.39M |
| Operating Cash Flow | -16.34M | -68.92M | -125.18M | -124.82M | -71.93M |
| Investing Cash Flow | -12.75M | 73.84M | 24.16M | 82.77M | -278.06M |
| Financing Cash Flow | 24.04M | -13.69M | 113.81M | 23.01M | 336.11M |
BioNano Genomics Technical Analysis
Neutral
1.62
Price Trends
1.16
Positive
1.37
Negative
2.03
Negative
Market Momentum
0.01
Negative
56.97
Neutral
91.07
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNGO, the sentiment is Neutral. The current price of 1.62 is above the 20-day moving average (MA) of 1.19, above the 50-day MA of 1.16, and below the 200-day MA of 2.03, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 56.97 is Neutral, neither overbought nor oversold. The STOCH value of 91.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BNGO.
BioNano Genomics Risk Analysis
BioNano Genomics disclosed 82 risk factors in its most recent earnings report. BioNano Genomics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BioNano Genomics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $221.36M | -2.82 | -9.93% | ― | 5.44% | 72.17% | |
56 Neutral | $124.81M | -1.46 | -302.55% | ― | 22.29% | 31.93% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $14.20M | -0.32 | -56.22% | ― | -13.84% | 88.80% | |
50 Neutral | $481.02M | -13.36 | -5.40% | ― | 13.60% | 74.64% | |
49 Neutral | $693.71M | -8.74 | -39.13% | ― | -21.02% | 47.74% | |
48 Neutral | $485.31M | -1.57 | -79.81% | ― | 0.21% | -233.51% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.