SAN DIEGO, June 18, 2025 (GLOBE NEWSWIRE) -- Bionano Genomics (NASDAQ: BNGO) recently participated in the European Society of Human Genetics (ESHG) conference held in Milan, Italy, from May 24-27, 2025. The event highlighted the use of optical genome mapping (OGM) in genetic disease research, with numerous presentations and posters emphasizing its utility in detecting structural variants (SVs) associated with genetic diseases – including constitutional disorders, hematological malignancies and solid tumors. ...

Financial Data and Key Metrics Changes - The meeting reported that the proposal to elect Eric Holmlin, PhD, and David Barker, PhD, as class one directors was carried, indicating a positive outcome for governance [15] - The advisory vote on the compensation of the company's named executive officers was approved, reflecting shareholder support for executive pay [15] - The selection of BDO USA PC as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified, ensuring continuity in auditing [15] - The share issuance proposal was approved, allowing for the issuance of up to 661,374 shares of common stock [12][15] Business Line Data and Key Metrics Changes - No specific data on business lines or key metrics was provided during the meeting Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting Company Strategy and Development Direction and Industry Competition - The meeting did not provide detailed insights into the company's strategic direction or competitive landscape Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments regarding the operating environment or future outlook during the meeting Other Important Information - The meeting was held virtually, with stockholders attending via a web portal, indicating a shift towards digital engagement [2][4] - A quorum was established with 47.8% of outstanding shares represented, allowing the meeting to proceed with official business [6] Q&A Session All Questions and Answers Question: Are there any questions regarding the proposals? - No questions were received from stockholders during the Q&A session, leading to the conclusion of the meeting [17]

Bionano Genomics (BNGO) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants David Holmes - Managing DirectorErik Holmlin - President and Chief Executive OfficerVidyun Bais - Equity Research - Vice PresidentJoanne Lee - Biotech Equity Research Associate Conference Call Participants Sung Ji Nam - Managing Director, Senior Equity Research Analyst Operator Good day, and welcome to the Bionana First Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $6.5 million, a decrease of 26% compared to Q1 2024, which included $1.4 million from discontinued clinical services [7][11] - GAAP gross margin for Q1 2025 was 46%, significantly higher than 32% in Q1 2024 [9][17] - GAAP operating expenses decreased to $11.4 million in Q1 2025 from $33.9 million in Q1 2024, primarily due to cost-saving initiatives [9][16] Business Line Data and Key Metrics Changes - The installed base of OGM systems grew to 379, a 9% year-over-year increase, with nine new installations in Q1 2025 [10] - Flow cell sales totaled 6,994 in Q1 2025, reflecting a 15% decrease year-over-year, but a 1% increase when excluding new customer sales [8][11] Market Data and Key Metrics Changes - Cash, cash equivalents, and available-for-sale securities as of March 31, 2025, were $29.2 million, with $11 million subject to restrictions [10] - The company completed a $10 million registered direct offering in January 2025 and raised net proceeds of $3.2 million through ATM sales in Q1 2025 [10] Company Strategy and Development Direction - The company has shifted its strategy to focus on existing customers who use OGM products routinely, scaling back on new instrument placements [6][7] - The strategy includes four pillars: supporting the installed base, driving utilization through software adoption, facilitating reimbursement support, and improving profitability with lower costs [7] Management's Comments on Operating Environment and Future Outlook - Management expects full-year revenues to be in the range of $26 million to $30 million, reflecting current market turbulence [17] - Q2 revenues are anticipated to be between $6.3 million and $6.8 million, with expectations to install 15 to 20 new OGM systems throughout 2025 [18] Other Important Information - The first quarter of 2025 saw 95 publications related to OGM, indicating strong engagement in research and development [13] - The company is focused on reducing cash burn and increasing gross margin, with operating expenses down 66% year-over-year [16][17] Q&A Session Summary Question: Is MD Anderson a big customer currently? - MD Anderson is an existing user and has developed a validated workflow for OGM, indicating significant adoption and impact on their operations [21][22] Question: Is the mid-40% gross margin sustainable for the remainder of the year? - Management believes the gross margin will remain stable in the mid-40% range for the rest of the year, with potential for gradual improvement [23] Question: What steps are being taken to increase SAPIRI utilization among existing routine users? - The company is focusing on training customers in using the VIA software, supporting menu expansion, and improving overall workflow proficiency [40][42]

Financial Performance - Total revenue for the three months ended March 31, 2025, was $6,457,000, down from $8,769,000 in the same period of 2024, reflecting a decline of approximately 26.4%[127] - Product revenue for the three months ended March 31, 2025, was $6,004,000, compared to $6,828,000 for the same period in 2024, indicating a decrease of about 12.1%[127] - Service and other revenue dropped to $453,000 for the three months ended March 31, 2025, from $1,941,000 in the same period of 2024, a decline of approximately 76.7%[127] - Total revenue decreased by $2.3 million, or 26%, to $6.5 million for the three months ended March 31, 2025, compared to $8.8 million for the same period in 2024[136] - Product revenue decreased by $0.8 million, or 12%, to $6.0 million, driven by a 57% decrease in instrument sales and a 6% decrease in consumable sales[137] - Service and other revenue decreased by $1.5 million, or 77%, due to the discontinuation of certain clinical service offerings, contributing no revenue in 2025 compared to $1.4 million in 2024[138][139] - The net loss for the three months ended March 31, 2025, was $3.1 million, with an accumulated deficit of $696.3 million as of the same date[132] - Net loss improved by $28.3 million, or 90%, to $3.1 million for the three months ended March 31, 2025, compared to a net loss of $31.4 million for the same period in 2024[150] Revenue by Region - Revenue from the Americas was $3,058,000, accounting for 47% of total revenue, down from $4,690,000 (53%) in the same period of 2024[128] - EMEA revenue was $3,066,000, representing 47% of total revenue, compared to $3,133,000 (36%) in the same period of 2024[128] - Asia Pacific revenue fell to $333,000, making up 5% of total revenue, down from $946,000 (11%) in the same period of 2024[128] Operating Expenses - Total operating expenses decreased by $22.5 million, or 66%, to $11.4 million for the three months ended March 31, 2025, compared to $33.9 million for the same period in 2024[136] - Research and development expenses decreased by $7.4 million, or 76%, to $2.4 million, primarily due to headcount reductions and decreased professional fees[144] - Selling, general and administrative expenses decreased by $10.1 million, or 53%, to $9.0 million, driven by reductions in salaries and consulting fees[145] Cash Flow and Liquidity - As of March 31, 2025, the company had cash and cash equivalents of $3.6 million and an accumulated deficit of $696.3 million[150] - The net cash used in operating activities was $2.8 million for the three months ended March 31, 2025, a significant decrease of $25.4 million compared to $28.1 million in the same period in 2024, attributed to reduced net loss and working capital usage[167] - Net cash provided by financing activities was $10.9 million during the three months ended March 31, 2025, compared to a net cash outflow of $21.6 million in the same period in 2024, marking an increase of $32.5 million[169] - The cash flow from investing activities was a net outflow of $14.1 million for the three months ended March 31, 2025, compared to a net inflow of $47.6 million in the same period in 2024, primarily due to changes in available-for-sale securities[168] - As of March 31, 2025, the Company had $3.6 million in cash and cash equivalents, $14.6 million in short-term investments, and $11.0 million in restricted short-term investments, indicating liquidity challenges ahead[163] Future Outlook and Financing - The Company anticipates needing to raise substantial additional capital to continue operations beyond the next twelve months, with significant doubt about its ability to continue as a going concern[163] - The Company expects to incur additional costs for capital expenditures related to scaling operations and increasing manufacturing capacity throughout 2025[161] - The Company entered into a securities purchase agreement on January 3, 2025, to issue approximately 382,000 shares of common stock and warrants, with gross proceeds expected to be around $10.0 million[158] - The Company sold approximately 0.1 million shares of common stock under the Cowen ATM in January 2025, receiving gross proceeds of approximately $1.9 million[171] - The Company entered into an At The Market Offering Agreement with Wainwright on February 21, 2025, allowing for the sale of up to $75.0 million in common stock[172] - The Company has established a strategy committee to evaluate options for maximizing stakeholder value, including potential debt financing and equity investments[164] Instrument Sales and Installed Base - The installed base of OGM instruments grew to 379 as of March 31, 2025, representing a 9% increase from 347 as of March 31, 2024[121] - A total of 6,994 flowcells were sold in the three-month period ended March 31, 2025, a decrease of approximately 15% from 8,249 flowcells sold in the same quarter of 2024[121] Other Income and Interest - Interest income decreased by $0.7 million, or 72%, to $0.3 million, reflecting a reduction in investments[148] - Other income increased by $6.5 million, resulting in total other income of $5.4 million for the three months ended March 31, 2025, compared to an expense of $1.4 million in 2024[149] Classification - The company is classified as a smaller reporting company and is not required to provide the information required by Item 3[179]

Revenue Performance - Total revenue for Q1 2025 was $6.5 million, a decrease of 26% compared to $8.8 million in Q1 2024[7] - Total revenue for the three months ended March 31, 2025, was $6,457,000, a decrease of 26.3% compared to $8,769,000 for the same period in 2024[20] - Product revenue decreased to $6,004,000 from $6,828,000, representing a decline of 12.1% year-over-year[20] - Service and other revenue fell significantly to $453,000 from $1,941,000, a decrease of 76.7%[20] - Updated full year 2025 revenue guidance is projected to be between $26.0 million and $30.0 million[7] Operating Expenses - First quarter 2025 GAAP operating expense was $11.4 million, a decrease of 66% compared to $33.9 million in Q1 2024[7] - Total operating expenses for the quarter were $11,403,000, down 66.5% from $33,947,000 in the prior year[20] Gross Margin - GAAP gross margin for Q1 2025 was 46%, up from 32% in Q1 2024[7] - GAAP gross margin improved to 46% from 32% year-over-year, indicating better cost management[22] - Adjusted non-GAAP gross margin remained stable at 46%, compared to 34% in the previous year[22] Sales and Installations - Sold 6,994 nanochannel array flowcells in Q1 2025, a decrease of 15% from 8,249 flowcells sold in Q1 2024[4] - 82% of flowcells sold in Q1 2025 were to routine users of OGM[4] - Installed 9 new OGM systems, bringing the total installed base to 379, a 9% increase from 347 systems at the end of Q1 2024[4] - Anticipating installation of 15 to 20 new OGM systems in full year 2025[7] Financial Position - Cash, cash equivalents, and short-term investments as of March 31, 2025, were $29.2 million[7] - Total current assets increased to $44,929,000 from $39,489,000, reflecting a growth of 14.0%[18] - Total liabilities decreased to $30,226,000 from $41,295,000, a reduction of 26.8%[18] - Stockholders' equity rose to $48,188,000 from $35,375,000, an increase of 36.2%[18] Net Loss - The net loss for the three months ended March 31, 2025, was $3,102,000, compared to a net loss of $31,422,000 for the same period in 2024[20] Capital Raising - Completed a $10 million Registered Direct Offering in January 2025, raising net proceeds of $3.2 million through ATM sales in Q1 2025[4]

Core Viewpoint - Bionano Genomics, Inc. reported its Q1 2025 financial results, highlighting a strategic shift towards routine users of optical genome mapping (OGM) and VIA™ software, which are now primary revenue drivers. The company has achieved operational efficiencies, reduced costs, and extended its cash runway while maintaining a growing user base in the OGM community [2][4]. Recent Highlights - The company sold 6,994 nanochannel array flowcells in Q1 2025, a 15% decrease from 8,249 in Q1 2024. However, sales to existing customers increased by 1% after adjusting for new customer sales [5]. - 82% of flowcells sold in Q1 2025 were to routine OGM users [5]. - Installed 9 new OGM systems, bringing the total to 379, a 9% increase from 347 systems at the end of Q1 2024 [5]. - Significant publications in the field, including expert recommendations for OGM as a standard cytogenetic assay and studies demonstrating OGM's effectiveness in various applications [5]. Q1 2025 Financial Results - Total revenue for Q1 2025 was $6.5 million, down 26% from $8.8 million in Q1 2024. The decline was attributed to the absence of revenue from discontinued clinical services and a decrease in instrument sales [5][19]. - GAAP gross margin improved to 46% in Q1 2025 from 32% in Q1 2024. Non-GAAP gross margin also increased to 46% from 34% [5][20]. - GAAP operating expenses were $11.4 million, a 66% decrease from $33.9 million in Q1 2024, primarily due to headcount reductions and restructuring [5][19]. Cash Position and Future Guidance - As of March 31, 2025, the company had cash and equivalents of $29.2 million [5]. - For Q2 2025, the company anticipates revenue between $6.3 million and $6.8 million, with full-year revenue guidance of $26 million to $30 million [12]. - The company plans to install 15 to 20 new OGM systems throughout 2025 [12].

Core Viewpoint - Bionano Genomics, Inc. will host a conference call and live webcast on May 14, 2025, to report its financial results for the first quarter of 2025 and discuss recent corporate developments [1]. Group 1: Conference Call & Webcast Details - The conference call is scheduled for May 14, 2025, at 4:30 p.m. Eastern Time [2]. - Participants can register for the call and access a live webcast through the Bionano website [2]. - A replay of the conference call and webcast will be available on Bionano's investor relations website for at least 30 days [2]. Group 2: Company Contacts - Erik Holmlin is the CEO of Bionano Genomics, Inc., and can be contacted at +1 (858) 888-7610 or eholmlin@bionano.com [3]. - Investor relations are managed by David Holmes from Gilmartin Group, who can be reached at +1 (858) 888-7625 or IR@bionano.com [3].

Core Insights - Bionano Laboratories has announced expert recommendations for integrating Optical Genome Mapping (OGM) as a standard-of-care cytogenetic assay in various clinical settings, as published in the American Journal of Hematology [1][2] Group 1: Expert Recommendations - OGM is recommended as a first-line test for Acute Myeloid Leukemia (AML), Myelodysplastic Syndromes (MDS), Myeloproliferative Neoplasms (MPN), B-cell Acute Lymphoblastic Leukemia (B-ALL), T-cell Acute Lymphoblastic Leukemia (T-ALL), pediatric leukemias, and unexplained eosinophilia [3] - OGM is suggested as an alternative to traditional methods like karyotyping, FISH, and CMA for Chronic Lymphocytic Leukemia (CLL), Plasma Cell Neoplasms/Multiple Myeloma, aplastic anemia, bone marrow failure syndromes, and germline predisposition syndromes [4] Group 2: Advantages of OGM - OGM provides higher diagnostic clarity and simplifies laboratory workflows, making it more cost-effective with faster turnaround times [5] - OGM allows for the identification of cryptic gene fusions for which targeted therapies may be available, improving risk stratification and guiding targeted therapy [7] - OGM can resolve complex or ambiguous chromosomal abnormalities and is effective for low-frequency or rare hematologic malignancies [7] Group 3: Company Overview - Bionano Laboratories offers CLIA-certified laboratory developed tests (LDTs) based on OGM, aiming to transform genome analysis in clinical diagnostics [1][9] - The company provides a comprehensive testing portfolio and support options for applications across basic, translational, and clinical research [8][9]

Core Insights - Bionano Genomics has announced a study that presents a new method for analyzing multiple myeloma (MM) using optical genome mapping (OGM), which addresses challenges in traditional cytogenetic analysis [1][3] - The study indicates that the new OGM method can reduce the required number of CD138-positive cells for analysis by half, making it easier to analyze limited samples [1][7] - OGM has shown a 93% concordance rate with the traditional FISH method while uncovering over 22 additional genetic variants not detected by FISH, enhancing the understanding of MM [7] Company Overview - Bionano Genomics specializes in genome analysis solutions aimed at transforming genomic research through OGM technology, diagnostic services, and software [4] - The company provides OGM solutions applicable across various research fields, including basic, translational, and clinical research [4] - Bionano also offers a platform-agnostic genome analysis software and nucleic acid extraction solutions using proprietary isotachophoresis technology [4] Industry Context - Multiple myeloma is a significant focus for researchers looking to implement OGM in routine clinical use, highlighting a substantial unmet medical need in the field of hematologic malignancies [3] - The publication of the study is seen as a pivotal advancement for OGM research in the context of blood cancers, potentially expanding the application of OGM in clinical settings [3][8]