Bionano Genomics (BNGO) Earnings Transcript
Bionano Genomics reported a 3% decline in quarterly revenue and a 7% decline in annual revenue, citing supply constraints as the primary cause. The company expects to recover as manufacturing delays are resolved and is focusing on increasing productivity and revenue from validated, routine-use customers.
Bionano Genomics reported quarterly revenue of $8.0 million, a 3% decline. Annual revenue was $28.5 million, down 7%. The company sold 7,554 nanochannel array flow cells in the quarter, down 6%. Nine OGM systems were installed in the quarter, surpassing annual guidance. Non-GAAP gross margin improved to 43% for the quarter and 47% for the year. The company has $29.6 million in cash and equivalents and expects its cash runway to extend into 2027.
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