Bionano Genomics sees FY23 revenue $35.8M-$36.1M, consensus $35.94M

Bionano Genomics reported certain unaudited preliminary financial and commercial highlights for the fourth quarter and fiscal year ended December 31, 2023. The company’s full results for the fourth quarter and the fiscal year ended December 31, 2023 are not yet available. Full year 2023 revenue is expected to be in the range of $35.8M-$36.1M, an estimated increase of 29% to 30% compared to full year 2022. Installed base of OGM systems totaled 326 at year-end, which represented a 36% increase over the 240 installed systems reported at the end of 2022. Nanochannel array flowcells sold in the fourth quarter is expected to be 7,980, an estimated increase of 67% over the 4,781 flowcells sold in the fourth quarter of 2022. Cash, cash equivalents, and available-for-sale securities as of December 31, 2023 were approximately $102.8M, of which $36.1M is subject to certain restrictions. “We raised net proceeds of $11.0M from ATM sales during the period of November 14, 2023 through December 31, 2023. An additional $2.9M has been raised in net proceeds from ATM sales in 2024 to date,” the company stated.