Bionano Genomics sees Q1 revenue $7.3M-$7.5M, consensus $7.11M

"We believe the preliminary first quarter 2023 results, which include expected growth in revenue, installed base and consumables sales, would represent a continuation of the strong performance we reported for the full year 2022 and our momentum building now for over 10 consecutive quarters. We remain focused on expanding awareness of Bionano and its products and growing our product portfolio to complete the end-to-end solution for OGM," commented Erik Holmlin, PhD, president and chief executive officer of Bionano. "At our inaugural Strategy Day in February 2023, we outlined our strategy and key anticipated milestones planned over the next two years. We are committed to executing against our strategy to achieve our objectives and our 2023 financial guidance, which includes expected full year 2023 revenue in the range of $35 million to $38 million and reaching an installed base of 325 OGM systems by the end of 2023. Furthermore, we are continuing our clinical research initiatives aimed at providing the data and publications to demonstrate to potential customers the value and utility of OGM. We believe medical societies should be able to use these data as the basis for integrating OGM into the recommended set of tools used routinely for genome analysis in human clinical research."