Core Insights - Bionano Genomics reported a total revenue of $7.4 million for Q3 2025, marking a 21% increase from $6.1 million in Q3 2024, despite a prior year write-down of $0.5 million in clinical services revenue [5][20] - The company has shifted its business model to focus on consumables and software utilization, which has led to improved margins and reduced operating expenses [2][5] - Bionano's gross margin for Q3 2025 was 46%, a significant recovery from (139)% in Q3 2024, indicating a positive trend in financial performance [5][20] Financial Performance - Total revenue for Q3 2025 was $7.4 million, up 21% from $6.1 million in Q3 2024 [5] - Consumables and software revenues increased by 15% year-over-year [5] - Operating expenses were reduced by 66% to $11.9 million, and non-GAAP operating expenses decreased by 40% to $9.7 million [5][20] - The company ended Q3 2025 with cash and equivalents totaling $31.8 million [5] Business Highlights - Bionano sold 8,390 nanochannel array flowcells in Q3 2025, a 7% increase from 7,835 flowcells sold in Q3 2024 [5] - The installed base of optical genome mapping (OGM) systems reached 384, a 4% increase from 368 systems at the end of Q3 2024 [5] - The company completed a public offering in September 2025, raising $10 million in gross proceeds [6] Market Outlook - Bionano anticipates Q4 2025 revenue in the range of $7.5 to $7.9 million and full-year revenue between $26.0 to $30.0 million [11] - The company expects to install over 25 new OGM systems in 2025, exceeding previous expectations of 20 to 25 installations [11]