Business
Bionano Genomics Reports Fourth Quarter and Full-Year 2022 Results and Provides Revenue Outlook for 2023
Q4 revenue was $8.2 million, which represents a 30% increase over Q4 20212022 revenue was $27.8 million, which represents a 55% increase over year end
About this update from Bionano Genomics, Inc.
[{"type":"text","content":"Q4 revenue was $8.2 million, which represents a 30% increase over Q4 20212022 revenue was $27.8 million, which represents a 55% increase over year end 2021Reached installed base of 240 Saphyr® systems as of YE 2022, which represents a 46% increase over YE 2021Conference call today, March 9th, 2023 at 4:30 PM ET SAN DIEGO, March 09, 2023 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today reported financial results for the fourth quarter and full year ended December 31, 2022 and revenue outlook for 2023. “We started the year against a challenging external backdrop, and over the course of the year achieved or exceeded all of the stated 2022 ELEVATE! milestones we outlined at the beginning of 2022,” commented Erik Holmlin, PhD, president and chief executive officer of Bionano. “Bionano issued revenue guidance for the first time in 2022, and we exceeded our total 2022 guidance range. We were also pleased to see an uptick in overall awareness and adoption of optical genome mapping (OGM) across the globe.” Recent Highlights Published peer-reviewed publication for prenatal validation study, which evaluated 114 samples for prenatal genetic disease using OGM; results showed OGM to have 100% concordance with traditional cytogenetic methods and 100% interrun, intrarun, and interinstrument technical and analytical reproducibility.Published peer-reviewed publication for postnatal validation study, which compared OGM to standard of care (SOC) methods across 7 clinical sites, using 404 constitutional postnatal samples; results showed that 99.5% of samples were fully concordant with SOC methods, with 100% inter- and intrasite repeatability. Q4 2022 and YE 2022 Highlights Installed base of Saphyr® systems totaled 240 at year-end, which was an increase of 23 systems over third quarter 2022 and represented a 46% increase over the 164 installed systems reported at the end of 2021.Sold 4,781 flowcells in Q4 2022, which was an increase of 49% percent over fourth quarter 2021; 15,375 flowcells were sold in 2022, which represented a 23% increase over the total number of flowcells sold in 2021.Acquired Purigen Biosystems, which we expect to accelerate the adoption of OGM due to anticipated improvements in Bionano’s ultra-high molecular weight (UHMW) DNA sample preparation workflow.Key publications validated OGM’s utility for research applica...