Business
Bionano Genomics Reports Preliminary Fourth Quarter and Full-Year 2022 Results
- Preliminary Q4 revenue expected to be between $8.1 and $8.4 million; 29% to 33% increase over Q4 2021- Reached installed base of 240 systems as of YE 2022;
About this update from Bionano Genomics, Inc.
[{"type":"text","content":"- Preliminary Q4 revenue expected to be between $8.1 and $8.4 million; 29% to 33% increase over Q4 2021- Reached installed base of 240 systems as of YE 2022; 46% increase over YE 2021- Achieved or exceeded all stated goals and milestones for the full year 2022 SAN DIEGO, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today reported certain unaudited preliminary financial and commercial highlights for the fourth quarter and fiscal year ended December 31, 2022. The Company’s full results for the fourth quarter and the fiscal year ended December 31, 2022 are not yet available. “We ended an outstanding year with a lot of momentum across all facets of our business and have achieved or exceeded all of the stated 2022 ELEVATE! milestones we set out 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 not only came in at the high end of our guidance each quarter, but we exceeded our total 2022 guidance range. We were also pleased to see an incredible uptick in overall awareness and adoption of optical genome mapping (OGM) across the globe.” Q4 2022 Highlights Revenues for the fourth quarter 2022 are expected to be in the range of $8.1 million to $8.4 million, an estimated increase of 12% to 16% compared to $7.2 million in the third quarter of 2022 and an estimated increase of 27% to 33% compared to the fourth quarter of 2021. Full year 2022 revenue is expected to be in the range of $27.7 million and $28.0 million, an estimated increase of between 54% and 56% compared to 2021.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, an increase of 49% over the fourth quarter of 2021.Completed acquisition of Purigen Biosystems, which is expected to accelerate the adoption of OGM due to anticipated improvements in Bionano’s ultra-high molecular weight (UHMW) DNA sample preparation workflow. Achieved All Full-Year 2022 ELEVATE! Milestones Launched OGM laboratory developed tests (LDTs) for hematological malignancy and genetic disorder applications through Bionano LaboratoriesPre-commercial version of next generation OGM system r...