Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________________________________ FORM 10-Q _________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file numb ...

Financial Data and Key Metrics - Q3 2024 revenue was $6.1 million, a 35% YoY decrease, driven by a 29% reduction from discontinued clinical services and a 6% decrease from delayed instrument sales [10] - GAAP operating expenses decreased by 69% to $35.5 million, while non-GAAP operating expenses decreased by 49% to $16.1 million [17] - Operating cash burn reduced by 46% to $14 million compared to $26 million in the prior year [17] - GAAP gross margin was negative 139%, impacted by $9.8 million in one-time charges, while non-GAAP gross margin was 26% [18] - Cash and cash equivalents stood at $23.4 million as of September 30, 2024, with $11.4 million subject to restrictions [17] Business Line Data and Key Metrics - Core product and software sales were $6.6 million, offset by a $500,000 write-down of aged receivables [10] - OGM installed base grew to 368 systems, a 22% increase YoY, with 7,835 flow cells sold, a 27% increase YoY [11][12] - Publications grew by 12% YoY to 83 in Q3, with clinical research subjects covered increasing by 82% [13] - Stratys system shipments continued, with demand strong in Europe, the US, Canada, and Israel [16] Market Data and Key Metrics - The company shifted its go-to-market strategy to focus on conserving cash and driving utilization among routine users, particularly in cytogenomics [8] - The OGM installed base growth rate slowed due to the strategic shift and cost-saving initiatives [11] - Reimbursement initiatives progressed, with a Category 1 CPT code established for OGM in hematologic malignancies [15] Company Strategy and Industry Competition - The company reduced headcount from 426 in May 2023 to 125 as of September 2024, with further reductions expected to below 100 by 2025 [7] - The focus is on driving adoption of VIA software and increasing utilization among existing customers, with an emphasis on adding new assays [20] - The company aims to improve gross margins by reducing COGS and increasing sample pull-through [20] Management Commentary on Operating Environment and Future Outlook - Management highlighted the challenges of transitioning to a streamlined team but noted signs of stability, including growth in consumable sales [9] - The company expects Q4 revenues to be between $6 million and $7 million, with full-year revenues projected at $28 million to $30 million [21] - Management emphasized the importance of cash preservation and reaching profitability over growth at any cost [21] Other Important Information - The company completed two registered direct offerings, raising $10 million in July and $3 million in October, with potential additional proceeds from warrants [19] - A special meeting of stockholders is scheduled for November 27, 2024, to approve the warrants [19] Q&A Session Summary Question: Status of the Ionic sample prep system - The Ionic sample prep system is progressing, with a full commercial rollout expected in 2025 [25] Question: Growth potential for target accounts - The 150 target customers account for approximately 80% of consumables revenue, with significant growth potential as they add more indications [27][28] Question: COGS reduction levers - COGS reduction will come from transitioning to lower-cost foundries, consolidating facilities, and spreading overhead over more units [30] Question: Consumables growth rate in 2025 - Growth in consumables is expected to accelerate due to reimbursement initiatives, routine use adoption, and VIA software adoption [33][35] Question: Delays impacting top line - Delays in system purchases were due to customers underestimating approval times, with some expected to be completed in Q4 [36] Question: Partnership opportunities - The company remains opportunistic about partnerships but has no definitive plans currently [37] Question: System placements and Stratys launch - The company expects system placements to remain around 5 per quarter in 2025, with Stratys demand driven by higher throughput and workflow advantages [39][42] Question: Guidance reduction components - Guidance reduction factors in lower capital equipment sales, discontinued clinical services, and potential additional write-downs [45]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 10, 2024 Bionano Genomics, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) Delaware 001-38613 26-1756290 9540 Towne Centre Drive, Suite 100 San Diego, California 92121 ( ...

Financial Performance - Q3 2024 revenue was $6.1 million, a 35% decrease from Q3 2023 [1][6] - Core product and software sales accounted for $6.6 million, offset by a $0.5 million write-down of aged receivables from discontinued clinical service products [1][6] - GAAP gross margin for Q3 2024 was (139)%, compared to 30% in Q3 2023; non-GAAP gross margin was 26%, down from 32% [6][23] - GAAP operating expense was $35.5 million, a 69% decrease from Q3 2023; non-GAAP operating expense was $16.1 million, a 49% decrease [6][23] Sales and Installed Base - Total installed base of optical genome mapping (OGM) systems reached 368, a 22% increase from 301 systems in Q3 2023 [1][5] - Sold 7,835 nanochannel array flowcells in Q3 2024, representing a 27% increase from 6,176 flowcells sold in Q3 2023 [1][5] Strategic Initiatives - Company is focusing on securing revenue and growth from the existing customer base rather than aggressively expanding the installed base, which has been costly [2] - A registered direct offering and concurrent private placement raised approximately $10 million for general corporate purposes, with potential additional gross proceeds of up to $20 million from warrants [3] Research and Development - Implementation of a new CPT code for OGM in cytogenomic analysis is on schedule, expected to enhance the utility of OGM in detecting variations related to hematological malignancies [3] - A multi-site study highlighted OGM's ability to identify complex genomic rearrangements in multiple myeloma, providing insights beyond traditional cytogenetic analysis [4]

SAN DIEGO, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) announced today that it adjourned its reconvened Special Meeting of Stockholders originally held on October 2, 2024 and subsequently adjourned to October 30, 2024 (the “Special Meeting”) because a quorum was not present at the time of the reconvened meeting. Based on preliminary reports as of October 30, 2024, approximately 30.7% of total shares outstanding as of the record date have submitted their votes, whereas 33.3% of to ...

Core Insights - Bionano Genomics expects third quarter 2024 revenue to be between $6.5 million and $6.8 million, a decrease from previous guidance of $7.9 million to $8.9 million [1] - The company has approximately $23.3 million in cash and cash equivalents as of September 30, 2024, with $11.4 million subject to restrictions [2] - The company is undergoing a strategic shift to become more capital-efficient, focusing on driving utilization and adoption of optical genome mapping (OGM) from its existing installed base [4] Financial Performance - Preliminary revenue for Q3 2024 is expected to be lower than previously anticipated due to strategic business transformation and ongoing challenges in the capital equipment sector [1][4] - The company has not completed its standard quarterly accounting procedures, and results are subject to further adjustments, including potential impairments and write-downs [3] Business Strategy - Bionano is focusing on increasing the utilization of OGM in productive geographies such as the US, Canada, Europe, and Israel, rather than emphasizing new placements of OGM systems [4] - The company aims to transform its business model to enhance capital efficiency while maintaining growth in its core business [4] Company Overview - Bionano Genomics provides genome analysis solutions aimed at addressing complex questions in biology and medicine, with a mission to transform genome analysis through OGM solutions and diagnostic services [5]

Shares of Bionano Genomics, Inc. (BNGO) have been struggling lately and have lost 5.6% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish ...

Bionano Genomics, Inc. (NASDAQ:BNGO) Canaccord Genuity 44th Annual Growth Results Conference August 13, 2024 3:30 PM ET Company Participants Erik Holmlin - President and Chief Executive Officer Conference Call Participants Kyle Mikson - Canaccord Genuity Kyle Mikson Hi. Welcome to the Canaccord Genuity Global Growth Conference. I'm Kyle Mikson, and I cover life science tools and diagnostics for Canaccord. Pleased to welcome you to this Fireside Chats with Bionano Genomics. The company offers a really kind o ...

Bionano Genomics, Inc. (BNGO) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the sy ...

Bionano Genomics, Inc. (NASDAQ:BNGO) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants David Holmes - Investor Relations Erik Holmlin - President & Chief Executive Officer Gülsen Kama - Chief Financial Officer Conference Call Participants Destiny Hance - Ladenburg Thalmann & Co. Operator Good day and thank you for standing by. Welcome to the Bionano Q2 Financial Results Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will ...