Bionano Genomics(US:BNGO)2025-03-31 20:03Revenue Expectations - Preliminary Q4 2024 revenue is expected to be between $7.9 million and $8.1 million, representing an estimated decrease of approximately 25% compared to Q4 2023 revenue of $10.7 million[4]. - Full year 2024 revenue is expected to be in the range of $30.5 million to $30.7 million, an estimated decrease of approximately 15% compared to $36.1 million in 2023[6]. Sales and Installed Base - Installed base of optical genome mapping (OGM) systems reached an estimated 371 as of year-end 2024, a 14% increase from 326 systems at the end of 2023[4]. - Preliminary number of nanochannel array flowcells sold in Q4 2024 is expected to be 8,058, representing an estimated increase of 1% over the 7,980 flowcells sold in Q4 2023[4]. Cost Management - The company has reduced annualized operating costs by approximately $100 million since initiating cost reduction efforts in May 2023[3]. Regulatory and Product Developments - The American Medical Association established a category I CPT code for OGM, which is expected to enhance reimbursement opportunities for OGM users[10]. - The company completed the full commercial release of the high throughput OGM instrument, Stratys™, which is expected to enable a four-fold increase in raw data generation rate compared to the previous Saphyr system[8]. Financial Position - Cash, cash equivalents, and available-for-sale securities as of December 31, 2024, were approximately $20.9 million, with $11.4 million subject to restrictions[7]. - The company raised net proceeds of $3.6 million from ATM sales during Q4 2024 and an additional $1.9 million in 2025 through ATM sales[7]. - The company modified the terms of its senior secured convertible debentures, deferring a $1 million amortization payment due in December 2024[7].