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 ...

Financial Performance - Total revenue for the three months ended June 30, 2024, was $7,771,000, a decrease from $8,662,000 in the same period of 2023[101]. - Product revenue for the three months ended June 30, 2024, was $6,510,000, compared to $6,609,000 for the same period in 2023[101]. - Service and other revenue decreased to $1,261,000 for the three months ended June 30, 2024, from $2,053,000 in the same period of 2023[101]. - Total revenue for the three months ended June 30, 2024, was $7.8 million, a decrease of $891,000 or 10% compared to $8.7 million in 2023[108]. - Product revenue decreased by $0.1 million, or 1%, to $6.5 million for the three months ended June 30, 2024, compared to $6.6 million for the same period in 2023[109]. - Service and other revenue decreased by $0.8 million, or 39%, to $1.3 million for the three months ended June 30, 2024, primarily due to the discontinuation of certain clinical service offerings[109]. - Total revenue for the six months ended June 30, 2024, was $16.5 million, an increase of $463,000 or 3% compared to $16.1 million in 2023[117]. - Product revenue for the six months ended June 30, 2024, increased by $1.3 million, or 11%, to $13.3 million compared to $12.1 million in 2023[118]. - Net loss for the three months ended June 30, 2024, was $16.2 million, a decrease of $22.7 million or 58% compared to a net loss of $38.9 million in 2023[108]. - Net losses were $47.6 million for the six months ended June 30, 2024, compared to $76.0 million for the same period in 2023[126]. Operating Expenses - Total operating expenses decreased by $21.9 million, or 53%, to $19.6 million for the three months ended June 30, 2024, compared to $41.5 million in 2023[108]. - Research and development expenses decreased by $7.8 million, or 53%, to $6.8 million for the three months ended June 30, 2024, compared to $14.6 million in 2023[112]. - Selling, general and administrative expenses decreased by $15.4 million, or 57%, to $11.6 million for the three months ended June 30, 2024, compared to $26.9 million in 2023[113]. - Total operating expenses for the six months ended June 30, 2024, decreased by $27.9 million, or 34%, to $53.5 million compared to $81.5 million in 2023[117]. - R&D expenses decreased by $11.9 million, or 42%, to $16.6 million for the six months ended June 30, 2024, compared to $28.5 million for the same period in 2023[123]. - SG&A expenses decreased by $21.8 million, or 41%, to $31.1 million for the six months ended June 30, 2024, compared to $52.9 million for the same period in 2023[124]. - Restructuring costs were $5.8 million for the six months ended June 30, 2024, with no expenses classified as restructuring costs during the same period in 2023[125]. Cash and Liquidity - Cash and cash equivalents were $10.4 million, with an accumulated deficit of $628.9 million as of June 30, 2024[126]. - The company received net proceeds of approximately $75.6 million from the October 2023 Offering of senior secured convertible notes and warrants[127]. - The company expects to need additional capital based on strategic considerations in the future, as existing cash and equivalents will not be sufficient to achieve cash-flow break even[131]. - Future liquidity requirements will include working capital and general corporate expenses associated with business growth throughout 2024[132]. - As of June 30, 2024, the company had $10.4 million in cash and cash equivalents, $8.5 million in short-term investments, and $11.4 million in restricted cash, indicating potential liquidity issues for the next twelve months[134]. - Net cash used in operating activities was $49.1 million for the six months ended June 30, 2024, a decrease of $20.0 million compared to $69.1 million in the same period of 2023, attributed to a reduction in net loss and improved working capital management[136]. - Cash provided by investing activities increased to $76.2 million for the six months ended June 30, 2024, up from $46.1 million in 2023, primarily due to the maturity of $227.9 million in available-for-sale securities[137][138]. - Net cash used in financing activities was $23.6 million for the six months ended June 30, 2024, compared to net cash provided of $32.7 million in the same period of 2023, reflecting a decrease of $56.3 million[139]. - The company plans to raise substantial additional capital through equity or debt financing to meet operational needs, with no assurance that such financing will be available on favorable terms[134][136]. Market and Operational Insights - The installed base of OGM systems grew to 363 as of June 30, 2024, representing an increase of approximately 29% from 281 as of June 30, 2023[95]. - A total of 6,165 flowcells were sold in the three-month period ended June 30, 2024, a decrease of approximately 13% from 7,062 flowcells sold in the same quarter of 2023[95]. - The Americas accounted for 44% of total revenue in the three months ended June 30, 2024, while EMEA accounted for 47%[102]. - The company anticipates a potential protracted slowdown in its Asia Pacific business due to funding headwinds in the region[97]. Risk Factors - The company is exposed to interest rate risk, but does not expect anticipated changes in interest rates to materially affect its financial statements in future reporting periods[146]. - The company does not currently participate in material foreign exchange hedging activities and believes a hypothetical 10% change in foreign exchange rates would not have a material impact on its financial condition[148]. - The cost of revenue for the three and six months ended June 30, 2024, was not significantly impacted by inflationary pressures[149]. - The company does not believe that inflation has had a material effect on its business, financial condition, or results of operations[149]. - Geopolitical and macroeconomic events have contributed to supply chain challenges, resulting in inflation headwinds, particularly increased logistical costs and raw material prices[149].

Bionano Reports Second Quarter 2024 Results and Highlights Recent Business Progress • Q2 2024 revenue was $7.8 million, which represents a 10% decrease from Q2 2023 • Total installed base of 363 optical genome mapping (OGM) systems as of Q2 2024, which represents a 29% increase over Q2 2023 • Sold 6,165 nanochannel array flowcells in Q2 2024, which represents a 13% decrease from the number of flowcells sold in Q2 2023 th • The editorial panel of the American Medical Association (AMA) established a new Categ ...

Q2 2024 revenue was $7.8 million, which represents a 10% decrease from Q2 2023 Total installed base of 363 optical genome mapping (OGM) systems as of Q2 2024, which represents a 29% increase over Q2 2023 Sold 6,165 nanochannel array flowcells in Q2 2024, which represents a 13% decrease from the number of flowcells sold in Q2 2023 The editorial panel of the American Medical Association (AMA) established a new Category I Current Procedural Terminology (CPT®) code for the use of OGM in cytogenomic genome-wide ...

Conference Call & Webcast Details CONTACTS SAN DIEGO, July 31, 2024 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (NASDAQ:BNGO) today announced that it will host a conference call and live webcast on Wednesday, August 7, 2024, at 4:30 p.m. Eastern Time to report financial results for the second quarter 2024 and to highlight recent corporate progress. Participants may access a live webcast of the call on the Investors page of the Bionano website. A replay of the conference call and webcast will be archived on B ...

Multiple myeloma is a type of blood cancer originating in the plasma cell, known as a plasma cell neoplasm (PCN), and though sensitive and accurate identification of genetic abnormalities in MM samples is critical for patient risk stratification, predication of response to therapy options, and understanding of pathogenesis, many genome analysis methodologies, including fluorescence in situ hybridization (FISH) and chromosomal microarray (CMA), are limited in their ability to detect complex gene rearrangemen ...

sees the genome through OGM solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. The Company also offers an industryleading, platform-agnostic genome analysis software solution and nucleic acid extraction and purification solutions using proprietary isotachophoresis (ITP) technology. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also offers OGM-based diagnostic testing services. For mor ...

Core Insights - Bionano Laboratories will showcase optical genome mapping (OGM) at the 2024 joint annual meeting for ASCLS, AGT, and SAFMLS, highlighting its applications in hematological cancer research [7][13][14] - The company aims to transform genome analysis through OGM solutions, diagnostic services, and software, emphasizing its high sensitivity and resolution in detecting structural abnormalities [4][15] Company Overview - Bionano is a provider of genome analysis solutions, focusing on OGM to address complex biological and medical questions [4] - The company offers a comprehensive portfolio that includes OGM solutions for various research applications, alongside diagnostic testing services through its subsidiary, Lineagen, Inc. [4][16] Conference Details - The conference will take place from July 8-12, 2024, in Pittsburgh, Pennsylvania, featuring educational sessions on OGM's clinical utilities and implementation in cytogenetic laboratories [7][8] - Presentations will be led by experts from prominent medical institutions, including The University of Texas MD Anderson Cancer Center and Johns Hopkins University [13][14] Educational Sessions - Su Yang will present case studies demonstrating OGM's ability to detect pathogenic structural and copy number variants relevant to hematological cancer research [13] - Ying Zhou will discuss the clinical utilities of OGM in cytogenetic labs, while Wahab Khan will cover the setup and validation of OGM in laboratory settings [14][8]