Business
Bionano Reports First Quarter 2023 Results and Highlights Recent Business Progress
Q1 2023 revenue was $7.4 million, which represents a 30% increase over Q1 2022Installed base of 259 Saphyr® systems totaled as of Q1 2023, which represents a
About this update from Bionano Genomics, Inc.
[{"type":"text","content":"Q1 2023 revenue was $7.4 million, which represents a 30% increase over Q1 2022Installed base of 259 Saphyr® systems totaled as of Q1 2023, which represents a 47% increase over Q1 2022Sold 5,226 nanochannel array flowcells in Q1 2023, which represents a 62% increase over the number of flowcells sold in Q1 2022Conference call today, May 9, 2023 at 4:30 PM ET SAN DIEGO, May 09, 2023 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today reported financial results for the first quarter ended March 31, 2023. Q1 2023 Highlights Installed base of Saphyr® systems totaled 259 at the end of the first quarter 2023, which was an increase of 19 systems over the fourth quarter of 2022 and represents a 47% increase over the 176 installed systems reported at the end of the first quarter of 2022.5,226 nanochannel array flowcells sold during the first quarter, which represents a 9% increase over the 4,781 flowcells sold during the fourth quarter of 2022 and represents an increase of 62% over the 3,225 flowcells sold during the first quarter of 2022.Announced a collaboration with NVIDIA to develop an acceleration platform for use in Bionano’s optical genome mapping (OGM) workflow; collaboration is expected to significantly improve data processing speed while reducing time and cost associated with secondary analysis of OGM data.Announced that an original equipment manufacturing (OEM) partner in China, Beijing Genome Precision Technology (BGPT), a comprehensive molecular diagnostics company, obtained reagent class I registrations from China's National Medical Products Administration (NMPA) for Bionano's DNA extraction kit and labeling products for use in in vitro diagnostics (IVD); which allows BGPT to market these products to independent clinical labs in China.Significantly expanded 4-day 2023 Symposium year-over-year: 31 oral presentations on OGM; 114 countries represented; 69 scientific posters; and an average of 750 daily attendees, a 32% increase over 2022 daily attendance.Held first-ever Strategy Day at Nasdaq MarketSite in New York, where Bionano’s management team delivered an in-depth review of the Company’s strategy and growth initiatives and outlined our three-year financial targets, including 30-50% compound annual growth in revenues. Key opinion leaders from MD Anderson Cancer Center, Augusta University, Boston Children’s Hospit...