BioNano Genomics (BNGO) AI Stock Analysis

• Market Cap: $12.06M
• Dividend Yield: N/A
• Average Volume (3M): 162.01K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.79
• Revenue Growth: -13.84%
• EPS Growth: 88.80%
• Country: US
• Employees: 98
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -2.04
• Shares Outstanding: 10,176,000
• 10 Day Avg. Volume: 126,678
• 30 Day Avg. Volume: 162,008
• PEG Ratio: <0.01
• Price to Book (P/B): 0.93
• Price to Sales (P/S): 1.07
• P/FCF Ratio: -0.48
• Enterprise Value/Market Cap: 0.66
• Enterprise Value/Revenue: 0.28
• Enterprise Value/Gross Profit: 0.60
• Enterprise Value/Ebitda: -0.28
• 1Y Price Target: $7.50
• Price Target Upside: 362.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $1.50 ▼(-7.41% Downside)

The score is held down primarily by weak financial performance (large losses, low gross margin, and deteriorating free cash flow) and a bearish technical trend with the stock below major moving averages. The latest earnings call is a relative positive due to improved margins, reduced expenses, and reiterated guidance, but it is not yet strong enough to outweigh the broader profitability, cash flow, and trend concerns.

Positive Factors

Recurring consumables growth (flow cells)

Record flow-cell sales show rising utilization of existing Saphyr systems and strengthen the consumables revenue stream. Recurring consumables scale with installed base, creating predictable, higher-margin revenue and improving lifetime value per customer if adoption and usage remain sustained.

Non-GAAP gross margin improvement

A durable move from 26% to 46% non-GAAP gross margin suggests better product mix, pricing or cost controls. If sustained, higher gross margins materially improve the pathway to operating profitability and reduce dependency on external financing to fund operations and growth investments.

Significant operating expense reductions

A 40% cut in operating expenses reflects structural cost discipline that can lower the burn rate and extend runway. Sustained lower OpEx increases the probability of achieving positive cash flow from operations and provides management flexibility to invest selectively in commercialization and R&D.

Negative Factors

Persistently negative GAAP profitability

Deeply negative GAAP margins indicate the business still incurs structural losses after accounting for all costs. Until GAAP profitability improves, the company faces ongoing capital needs, weaker returns on equity, and limited ability to self-fund growth initiatives or absorb market setbacks.

Weak free cash flow trends

Declining free cash flow and negative operating cash conversion show persistent cash burn that erodes financial flexibility. Over months, continued negative FCF forces reliance on financing, which can dilute shareholders and constrain investment in sales, service, and product development necessary for scale.

Limited installed-base growth and slow regional adoption

Modest net additions to the installed base and slow uptake in Japan constrain long-term recurring consumables growth and scale economics. Installed-base expansion is the primary driver of recurring revenue; slow system placements lengthen the time to achieve sustainable revenue growth and operating leverage.

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; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight. The company also provides Saphyr and Bionano compute servers; and NxClinical which offers one system for analysis and interpretation of genomic variants from microarray and next-generation sequencing data for cytogenetics and molecular genetics. In addition, it offers testing and laboratory services comprising FirstStepDx PLUS, a chromosomal microarray for identifying an underlying genetic cause in individuals with autism spectrum disorder, developmental delay, and intellectual disability; Fragile X syndrome (FXS) testing services; NextStepDx PLUS, a exome sequencing test to identify genetic variants that are associated with disorders of childhood development; EpiPanelDx PLUS, a genetic testing panel for patients who have experienced seizures, infantile spasms, encephalopathy, or febrile seizures; PGx test, which identifies over 60 alleles in 11 genes. The company was founded in 2003 and is headquartered in San Diego, California.

How the Company Makes Money

BioNano Genomics generates revenue primarily through the sale of its Saphyr systems, consumables, and software solutions. The company has established a revenue model that includes the direct sale of its hardware and ongoing sales of consumables that are required for the operation of the Saphyr system. Additionally, BNGO benefits from software licensing and support services associated with their genomic analysis products. Significant partnerships with academic and research institutions, as well as collaborations with biopharmaceutical companies, contribute to its revenue by expanding the adoption of its technology in various research applications and clinical settings. The company may also receive funding through grants and strategic collaborations that support its product development and market expansion efforts.

BioNano Genomics Financial Statement Overview

Summary

Revenue is growing (4.72% TTM), but fundamentals remain weak with deeply negative profitability (net margin -271.02%) and low gross margin (5.05%). Leverage is improved (debt-to-equity 0.43), but cash flow trends are unfavorable (free cash flow growth -28.35% TTM) and overall financial stability is still pressured.

Income Statement

BioNano Genomics shows a modest revenue growth rate of 4.72% TTM, but profitability remains a significant concern with a net profit margin of -271.02% and negative EBIT and EBITDA margins. The gross profit margin is low at 5.05%, indicating challenges in cost management. Overall, the company struggles with profitability despite some revenue growth.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.43 TTM, reflecting better leverage management compared to previous years. However, the return on equity remains negative at -167.22%, indicating ongoing profitability issues. The equity ratio is not provided, but the balance sheet shows a need for improved financial stability.

Cash Flow

Free cash flow growth is negative at -28.35% TTM, and the operating cash flow to net income ratio is -1.08, highlighting cash flow challenges. The free cash flow to net income ratio is 1.0, indicating that free cash flow aligns with net income, but both are negative, reflecting cash flow difficulties.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	28.72M	30.78M	36.12M	27.80M	17.98M	8.50M
Gross Profit	13.36M	380.00K	9.57M	5.95M	3.87M	2.77M
EBITDA	-28.58M	-97.47M	-213.60M	-120.31M	-73.86M	-35.57M
Net Income	-38.59M	-112.02M	-232.49M	-132.60M	-72.44M	-41.11M
Balance Sheet
Total Assets	79.06M	76.67M	214.40M	307.50M	377.10M	60.45M
Cash, Cash Equivalents and Short-Term Investments	3.06M	9.47M	66.77M	113.19M	250.61M	38.45M
Total Debt	7.37M	27.30M	79.41M	11.67M	10.70M	16.32M
Total Liabilities	29.26M	41.30M	118.25M	58.10M	39.98M	25.37M
Stockholders Equity	49.80M	35.38M	96.16M	249.40M	337.12M	35.08M
Cash Flow
Free Cash Flow	-18.67M	-69.03M	-126.87M	-128.12M	-73.39M	-38.31M
Operating Cash Flow	-18.67M	-68.92M	-125.18M	-124.82M	-71.93M	-38.31M
Investing Cash Flow	-13.76M	73.84M	24.16M	82.77M	-278.06M	-2.45M
Financing Cash Flow	26.33M	-13.69M	113.81M	23.01M	336.11M	61.90M

BioNano Genomics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNGO, the sentiment is Negative. The current price of 1.62 is above the 20-day moving average (MA) of 1.49, above the 50-day MA of 1.57, and below the 200-day MA of 2.66, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 26.20 is Positive, neither overbought nor oversold. The STOCH value of 9.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNGO.

BioNano Genomics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BNR	57 Neutral	$355.19M	-20.52	-19.87%	―	5.44%	72.17%
FLGT	53 Neutral	$789.19M	-18.21	-3.80%	―	13.60%	74.64%
PSNL	53 Neutral	$737.96M	-9.49	-43.69%	―	-21.02%	47.74%
BDSX	52 Neutral	$81.94M	-1.92	-302.55%	―	22.29%	31.93%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BNGO	44 Neutral	$12.06M	-0.08	-78.22%	―	-13.84%	88.80%
MYGN	41 Neutral	$494.03M	-1.22	-72.52%	―	0.21%	-233.51%