Bionano Genomics (NasdaqCM:BNGO) Conference Transcript

Summary of Bionano Genomics Conference Call (October 15, 2025) Company Overview - Company: Bionano Genomics (NasdaqCM: BNGO) - Industry: Optical Genome Mapping (OGM) technology Key Points and Arguments OGM Technology - Definition: OGM is a workflow that allows clinical researchers to analyze DNA for diseases such as hematologic malignancies and genetic disorders, as well as in pharmaceutical drug development [2][3] - Differentiation: OGM analyzes ultra high molecular weight DNA segments (hundreds of thousands of base pairs) compared to traditional sequencing methods that analyze shorter segments (hundreds of base pairs) [4][8] - Applications: OGM is used for detecting large structural variations in DNA, which are critical in cancer research and genetic disease analysis [10][21] Market and Customer Base - Target Customers: Primarily cytogenetic laboratories within pathology departments, as well as molecular pathology departments [15][16] - Existing Customers: Includes major cancer centers like MD Anderson and Memorial Sloan Kettering, with an estimated 2,500 labs in the U.S. and Western Europe processing around 1 million samples annually [19][20] - Market Potential: The total addressable market includes an additional 7,500 laboratories globally that could adopt OGM in the future [52] Instruments and Software - Instruments: Two main systems, Saphyr and Stratus, with Stratus designed for higher throughput (up to 10,000 samples per year) compared to Saphyr (2,500 samples per year) [28][30] - Software: The Via software is used for analyzing and reporting variants from OGM and other genomic data, with a significant revenue stream from software sales [35][38] Financial Performance - Revenue Breakdown: Instruments and consumables generated approximately $5.5 million, while services and software contributed around $1.6 million [80] - Revenue Guidance: Expected revenue for 2025 is between $26 million and $30 million, with a focus on increasing utilization among existing customers [86][88] Competitive Landscape - Market Position: Bionano is the only company providing OGM technology, with a strong intellectual property portfolio protecting against competitors [78][79] - Software Competition: While there are other software platforms, Via is recognized as a leading tool for analyzing structural variations [41] Challenges and Barriers - Adoption Barriers: Initial skepticism regarding OGM's effectiveness has been addressed through numerous publications demonstrating its utility [66][67] - CPT Codes: The establishment of CPT codes for hematologic malignancies and constitutional genetic disorders has removed a significant barrier to adoption [69][70] Future Outlook - Growth Strategy: Focus on increasing utilization in existing labs rather than aggressive new customer acquisition, aiming for double-digit growth in consumables [86][88] - Regulatory Environment: Positive developments regarding FDA regulations and the absence of significant regulatory hurdles for laboratory-developed tests [76][77] Stock Performance - Recent Challenges: The company faced stock price contraction due to industry-wide issues and a reverse stock split, but recent financing has provided a runway for future growth [90][91] Additional Important Information - Automation Solutions: Bionano is working on automating the DNA isolation step to increase throughput in labs [72][73] - Guidelines and Recommendations: Efforts are underway to have OGM included in clinical guidelines, which would further drive adoption [74]