SAN DIEGO, June 18, 2025 (GLOBE NEWSWIRE) -- Bionano Genomics (NASDAQ: BNGO) recently participated in the European Society of Human Genetics (ESHG) conference held in Milan, Italy, from May 24-27, 2025. The event highlighted the use of optical genome mapping (OGM) in genetic disease research, with numerous presentations and posters emphasizing its utility in detecting structural variants (SVs) associated with genetic diseases – including constitutional disorders, hematological malignancies and solid tumors. ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $8.2 million, a decrease of 24% compared to Q4 2023, which included $2 million from discontinued clinical services [9] - GAAP gross margin for Q4 2024 was 42%, significantly higher than the 23% reported in Q4 2023 [9] - Non-GAAP gross margin for Q4 2024 was also 42%, compared to 24% in Q4 2023 [9] - GAAP operating expense for Q4 2024 was $15.4 million, down from $27.4 million in Q4 2023 [9][10] - Cash, cash equivalents, and available-for-sale securities as of December 31, 2024, were $20.9 million, with $11.4 million subject to restrictions [11] - Full year 2024 GAAP operating expense was $104.4 million, while non-GAAP operating expense was $68.9 million [13] Business Line Data and Key Metrics Changes - Product revenues for the full year were $27 million, a 1% increase from $26.7 million in 2023, despite a nearly $2 million reduction in instrument sales [12] - Consumables sales were $12.8 million, a 14% increase from $11.2 million in 2023 [12] - Software sales for the full year were $6.2 million, an 11% increase from $5.6 million in 2023 [12] Market Data and Key Metrics Changes - Sales in the Americas region were up 9% in 2024, while sales in the Europe, Middle East, and Africa region were up 10% compared to 2023 [13] - A total of 30,307 nanochannel array flow cells were sold during 2024, including 8,058 in Q4, representing a 15% increase over the 26,444 sold in 2023 [13] Company Strategy and Development Direction - The company is focusing on a recalibration period in the life sciences and tools industry, emphasizing the importance of optical genome mapping (OGM) [15] - A shift in go-to-market strategy was implemented in September 2024, focusing on conserving cash and supporting existing customers rather than aggressively acquiring new ones [16] - The strategy includes four key pillars: supporting the installed base, driving utilization through software adoption, building reimbursement support, and improving profitability [17] Management's Comments on Operating Environment and Future Outlook - Management expects full year revenues for 2025 to be in the range of $29 to $32 million, with Q1 2025 revenues expected to be between $6.2 million and $6.3 million [24] - The company anticipates ongoing volatility in margins but is encouraged by recent improvements [23] - The routine use customer group, which accounts for over 80% of consumables purchases, is expected to grow and drive revenue growth [18] Other Important Information - The company raised net proceeds of $3.6 million from ATM sales during Q4 2024 and completed a $10 million registered direct offering in January 2025 [11] - The American Medical Association established a Category 1 CPT code for OGM use in hematologic malignancies, effective January 1, 2025 [22] Q&A Session Summary Question: Guidance on core revenue growth for 2025 - Management indicated that the guidance for 2025 implies core revenue growth, with expectations of $29 to $32 million [29] Question: Customer acquisition strategy - Management stated that while they are not aggressively seeking new customers, they will focus on acquiring new customers that fit into the routine use group [42][43] Question: Feedback on Stratus Compute - Early feedback on Stratus Compute has been positive, with plans for software updates to improve performance [34][36] Question: Reimbursement updates - The OGM appeared on the Medicare clinical lab fee schedule as planned, with a rate around $1,300 [66] Question: Areas of strength in routine user group - Hematologic malignancies are the primary application for OGM adoption, with constitutional genetic disorders also showing strong growth [70][72]