Bionano Genomics reports Q4 revenue $8.21M , consensus $8M

Gross margin for the fourth quarter of 2022 was 22%, compared to 4% from the fourth quarter of 2021. The increase was primarily due to major improvements in chip yield year-over-year. Full year 2022 total gross margin was 21%, slightly down from 22% in 2021. "We started the year against a challenging external backdrop, and over the course of the year achieved or exceeded all of the stated 2022 ELEVATE! milestones we outlined at the beginning of 2022," commented Erik Holmlin, PhD, president and chief executive officer of Bionano. "Bionano issued revenue guidance for the first time in 2022, and we exceeded our total 2022 guidance range. We were also pleased to see an uptick in overall awareness and adoption of optical genome mapping across the globe." Cash, cash equivalents, and available-for-sale securities were $113.2M as of December 31 compared to cash, cash equivalents and available-for-sale securities of $250.6M as of December 31.