Bionano Genomics sees Q4 revenue $10.4M-$10.7M, consensus $10.54M

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. Revenues for the fourth quarter 2023 are expected to be in the range of $10.4M-$10.7M, an estimated increase of 27% to 30% compared to $8.2M in the fourth quarter of 2022. “2023 was a year in which we saw consistent progress in our business, and we ended the year with a lot of momentum across all facets of our business. In addition to Bionano’s efforts to advance OGM, our user base has independently organized to advocate for OGM as an alternative to traditional cytogenetic methods, with user groups convening across the globe and an international consortium of researchers publishing a framework for the adoption and implementation of OGM. We believe the progress of OGM in 2023, combined with our achievement of our ELEVATE milestones and our cost savings initiatives and financing, have positioned us for success in 2024,” commented Erik Holmlin, PhD, president and CEO of Bionano.