Bionano Genomics(BNGO) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $7.4 million, a 21% increase from $6.1 million in Q3 2024[5] - Total revenue for Q3 2025 was $7,367,000, a 21.3% increase from $6,073,000 in Q3 2024[20] - Product revenue increased to $6,934,000 in Q3 2025 from $6,021,000 in Q3 2024, representing a 15.2% growth[20] - Net loss for Q3 2025 was $8,503,000, compared to a net loss of $44,246,000 in Q3 2024, indicating a significant reduction in losses[20] Revenue Guidance - Full year 2025 revenue guidance is reiterated in the range of $26.0 to $30.0 million[7] - Q4 2025 revenue is expected to be between $7.5 and $7.9 million[7] Cost Management - Operating expenses were reduced by 66% to $11.9 million, with non-GAAP operating expenses down 40% to $9.7 million[5] - Research and development expenses for Q3 2025 were $2,844,000, down from $4,717,000 in Q3 2024, reflecting a 39.7% decrease[20] - Selling, general and administrative expenses were $9,064,000 in Q3 2025, slightly lower than $9,464,000 in Q3 2024[20] Profitability Metrics - Gross margin improved to 46%, up from (139)% in Q3 2024, with non-GAAP gross margin also at 46% compared to 26% in the prior year[5] - GAAP gross margin for Q3 2025 improved to 46% from a negative 139% in Q3 2024[22] - Non-GAAP gross profit for Q3 2025 was $3,401,000, compared to $1,597,000 in Q3 2024, showing a substantial improvement[22] Cash and Assets - The company ended Q3 2025 with cash and equivalents totaling $31.8 million[5] - Total current assets increased to $48,800,000 as of September 30, 2025, up from $39,489,000 as of December 31, 2024[18] - Total stockholders' equity increased to $49,799,000 as of September 30, 2025, up from $35,375,000 as of December 31, 2024[18] Product and Installation Metrics - Consumables and software revenues increased by 15% compared to the prior year[5] - The company sold 8,390 nanochannel array flowcells in Q3 2025, a 7% increase from 7,835 in Q3 2024[5] - Installed base of OGM systems reached 384, representing a 4% increase from 368 systems at the end of Q3 2024[5] - New OGM system installations are anticipated to exceed 25 for the full year 2025, up from previous expectations of 20 to 25[7] Liabilities - Total liabilities decreased to $29,263,000 as of September 30, 2025, down from $41,295,000 as of December 31, 2024[18]