Business
Bionano Genomics Reports Fourth Quarter and Full Year 2021 Financial Results and Provides Revenue Outlook for 2022
Full-year 2021 revenue growth of 111% over 2020Achieved publicly announced anticipated milestones for 2021Strong balance sheet with $250.6 million in cash,
About this update from Bionano Genomics, Inc.
[{"type":"text","content":"Full-year 2021 revenue growth of 111% over 2020Achieved publicly announced anticipated milestones for 2021Strong balance sheet with $250.6 million in cash, cash equivalents, and available-for-sale securities as of YE 2021Conference call today, March 1st, 2022 at 4:30 PM ET SAN DIEGO, March 01, 2022 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO), pioneer of optical genome mapping (OGM) solutions on the Saphyr® system and provider of NxClincial™, a leading software solution for visualization, interpretation and reporting of genomic data, today reported financial results for the fourth quarter and full year ended December 31, 2021 and revenue outlook for 2022. “We believe 2021 was transformational for Bionano. Not only did we achieve our publicly announced anticipated milestones for 2021, we added a world-class software product through the acquisition of BioDiscovery and significantly enhanced our software development expertise. As a provider of optical genome mapping systems, software, and testing and laboratory services, we believe that Bionano has transformed from an instrument company into a global genomics company focused on elevating the health and wellness of all people with a wide array of compelling solutions for genome analysis,” commented Erik Holmlin, PhD, President and Chief Executive Officer of Bionano. “We begin 2022 looking to continue the momentum that built throughout 2021 by elevating our performance to new heights as we work towards executing on our ELEVATE! strategy for 2022 and drive toward our mission to transform the way the world sees the genome.” Recent Highlights Revenue was $18.0 million for the full year and $6.3 million for the fourth quarter of 2021, representing 111% and 58% increases over the corresponding periods of 2020.12,518 flow cells sold during 2021.Reached installed base of 164 systems, a 69% increase over year end 2020.Significantly expanded 3-day 2022 Symposium year-over-year: 31 oral presentations on OGM; 82 countries represented; 37 scientific posters; and 4,064 total registrants, a 63% increase over 2021.Appointed Vincent Wong, JD, MBA and Aleksandar Rajkovic, PhD, MD as members of the Board of Directors. Chris Stewart, Chief Financial Officer of Bionano added, “Q4 2021 was an outstanding quarter, capping off a tremendous year where we achieved impressive year-over-year reven...