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BioNano Genomics Inc (BNGO)
NASDAQ:BNGO
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BioNano Genomics
(NASDAQ:BNGO)
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Rating:41Neutral
Price Target:
$1.50
▼(-7.98% Downside)
BioNano Genomics' overall stock score is primarily impacted by its weak financial performance and valuation, which reflect ongoing challenges in profitability and cash flow. While the earnings call provided some positive insights, such as improved margins and cost reductions, these are overshadowed by the broader financial difficulties and bearish technical indicators.
Positive Factors
Improved Gross Margin
The improvement in gross margin indicates better cost management and efficiency in production, which can enhance profitability and competitiveness over the long term.
New CPT Code for OGM
The new CPT code can facilitate reimbursement, potentially increasing adoption of OGM technology in clinical settings, driving long-term revenue growth.
Strong Software and Consumables Growth
Growth in consumables and software revenue suggests increasing customer retention and utilization, supporting sustainable revenue streams.
Negative Factors
Decline in Total Revenue
The decline in revenue reflects challenges in maintaining sales momentum, which could impact the company's ability to fund operations and growth initiatives.
Negative Free Cash Flow
Negative free cash flow indicates cash flow challenges, potentially limiting the company's ability to invest in growth opportunities and manage financial obligations.
Net Decrease in Installed Base
A decrease in the installed base suggests challenges in expanding market penetration, which could hinder long-term growth and adoption of the company's technology.
BioNano Genomics (BNGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.58M
Dividend YieldN/A
Average Volume (3M)1.22M
Price to Earnings (P/E)―
Beta (1Y)2.01
Revenue Growth-25.02%
EPS Growth85.08%
CountryUS
Employees98
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-2.00
Shares Outstanding9,755,265
10 Day Avg. Volume593,301
30 Day Avg. Volume1,223,396
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.93
Price to Sales (P/S)1.07
P/FCF Ratio-0.48
Enterprise Value/Market Cap0.21
Enterprise Value/Revenue0.12
Enterprise Value/Gross Profit2.47
Enterprise Value/Ebitda-0.05
Forecast
1Y Price Target
$9.50Price Target Upside482.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
BioNano Genomics Business Overview & Revenue Model
Company DescriptionBionano Genomics, Inc. provides genome analysis software solutions. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight. The company also provides Saphyr and Bionano compute servers; and NxClinical which offers one system for analysis and interpretation of genomic variants from microarray and next-generation sequencing data for cytogenetics and molecular genetics. In addition, it offers testing and laboratory services comprising FirstStepDx PLUS, a chromosomal microarray for identifying an underlying genetic cause in individuals with autism spectrum disorder, developmental delay, and intellectual disability; Fragile X syndrome (FXS) testing services; NextStepDx PLUS, a exome sequencing test to identify genetic variants that are associated with disorders of childhood development; EpiPanelDx PLUS, a genetic testing panel for patients who have experienced seizures, infantile spasms, encephalopathy, or febrile seizures; PGx test, which identifies over 60 alleles in 11 genes. The company was founded in 2003 and is headquartered in San Diego, California.
How the Company Makes MoneyBioNano Genomics generates revenue primarily through the sale of its Saphyr systems, along with consumables and software licenses associated with its genomic analysis technology. The company has established key partnerships with academic institutions, research organizations, and clinical laboratories, which contribute to its revenue through collaborations and joint research initiatives. Additionally, BNGO may benefit from licensing agreements and collaborations with pharmaceutical companies looking to leverage its technology for drug development and precision medicine applications. The diverse applications of its optical genome mapping technology across various research and clinical settings enhance its potential revenue streams.
BioNano Genomics Key Performance Indicators (KPIs)
BioNano Genomics Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 13, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong growth in flowcell sales, improved gross margin, and significant reductions in operating expenses. However, the decline in total revenue and the net decrease in the installed base of systems were notable challenges. The overall sentiment is cautiously optimistic, with positive strategic advancements in software and consumables growth and new CPT codes that could support future reimbursement.Q2-2025 Updates
Positive Updates
Increase in Flowcell Sales
Flowcell sales increased by 17% year-over-year, indicating strong demand and utilization among routine-use customers.
Improved Gross Margin
Non-GAAP gross margin increased significantly to 52% from 35% a year ago, showcasing improvements in product manufacturing costs and cost reduction efforts.
Reduction in Operating Expenses
Non-GAAP operating expenses were reduced by 53% year-over-year from $18.8 million to $8.8 million, reflecting cost efficiency measures.
Strong Software and Consumables Growth
Revenue from consumables and software grew 16% year-over-year in Q2 2025 and 8% for the first half of 2025, indicating increased utilization and customer retention.
New CPT Code for Optical Genome Mapping
A second Category I CPT code from the American Medical Association was established for OGM in evaluating constitutional genetic disorders, which could facilitate reimbursement.
Negative Updates
Decline in Total Revenue
Total revenue for Q2 2025 was $6.7 million, a decrease of 13% year-over-year, primarily due to the discontinuation of certain clinical services.
Net Decrease in Installed Base
There was a net decrease of 1 in the installed base of optical genome mapping systems, with 7 new installations and 8 systems being returned.
Limited VIA Software Adoption
VIA software is installed in only about one-third of OGM systems, indicating a significant opportunity for increased adoption and utilization.
Company Guidance
During the Bionano Second Quarter 2025 Earnings Conference Call, the company reported a total revenue of $6.7 million, reflecting a 13% decrease compared to the same period in 2024, primarily due to the discontinuation of certain services. However, upon adjusting for these discontinued services, the revenue decrease was 5% year-over-year. The company sold 7,233 flowcells, marking a 17% increase from the previous year, and achieved a non-GAAP gross margin of 52%, up from 35% a year ago. Non-GAAP operating expenses dropped by 53% year-over-year to $8.8 million, and the installed base of optical genome mapping systems experienced a net decrease to 378 systems. The company ended the quarter with $27.4 million in cash, cash equivalents, and available-for-sale securities. Bionano reiterated its full-year revenue guidance of $26 million to $30 million and increased its 2025 OGM installation expectations to a range of 20 to 25 new systems. The company is focusing on driving utilization among routine users, with consumables and software revenue rising to 73% of the total product mix in Q2 2025.BioNano Genomics Financial Statement Overview
Summary
BioNano Genomics faces significant financial challenges, including declining revenues, negative profitability, and cash flow inefficiencies. Despite some improvement in leverage, the company struggles to generate positive returns and cash flows, posing risks to financial stability.Income Statement
BioNano Genomics has experienced declining revenue growth, with a negative growth rate in the TTM period. The company shows weak profitability, with consistently negative net profit margins and EBIT margins. Gross profit margins are low, indicating challenges in cost management.35
Negative
Balance Sheet
The company's debt-to-equity ratio has improved in the TTM period, suggesting better leverage management. However, the return on equity remains negative, indicating continued losses. The equity ratio is relatively stable, but the company faces challenges in generating returns for shareholders.40
Negative
Cash Flow
BioNano Genomics shows negative free cash flow growth in the TTM period, reflecting cash flow challenges. The operating cash flow to net income ratio is negative, indicating inefficiencies in converting income to cash. The free cash flow to net income ratio is slightly above 1, showing some consistency in cash flow relative to net income.30
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.43M | 30.78M | 36.12M | 27.80M | 17.98M | 8.50M |
| Gross Profit | 1.39M | 380.00K | 9.57M | 5.95M | 3.87M | 2.77M |
| EBITDA | -68.93M | -97.47M | -213.60M | -120.31M | -73.86M | -37.08M |
| Net Income | -74.33M | -112.02M | -232.49M | -132.60M | -72.44M | -41.14M |
Balance Sheet | ||||||
| Total Assets | 76.01M | 76.67M | 214.40M | 307.50M | 377.10M | 60.45M |
| Cash, Cash Equivalents and Short-Term Investments | 16.44M | 9.47M | 66.77M | 113.19M | 250.61M | 38.45M |
| Total Debt | 19.58M | 27.30M | 79.41M | 11.67M | 10.70M | 16.33M |
| Total Liabilities | 30.64M | 41.30M | 118.25M | 58.10M | 39.98M | 25.37M |
| Stockholders Equity | 45.37M | 35.38M | 96.16M | 249.40M | 337.12M | 35.08M |
Cash Flow | ||||||
| Free Cash Flow | -26.06M | -69.03M | -126.87M | -128.12M | -73.39M | -38.31M |
| Operating Cash Flow | -26.06M | -68.92M | -125.18M | -124.82M | -71.93M | -38.31M |
| Investing Cash Flow | -14.46M | 73.84M | 24.16M | 82.77M | -278.06M | -2.45M |
| Financing Cash Flow | 22.27M | -13.69M | 113.81M | 23.01M | 336.11M | 61.90M |
BioNano Genomics Technical Analysis
Negative
1.63
Price Trends
2.31
Negative
2.83
Negative
3.47
Negative
Market Momentum
-0.15
Negative
32.71
Neutral
15.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNGO, the sentiment is Negative. The current price of 1.63 is below the 20-day moving average (MA) of 1.86, below the 50-day MA of 2.31, and below the 200-day MA of 3.47, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 32.71 is Neutral, neither overbought nor oversold. The STOCH value of 15.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNGO.
BioNano Genomics Risk Analysis
BioNano Genomics disclosed 82 risk factors in its most recent earnings report. BioNano Genomics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BioNano Genomics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $682.89M | ― | -4.54% | ― | 4.31% | 69.57% | |
55 Neutral | $121.79M | -6.04 | -22.66% | ― | 5.33% | 75.52% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $587.25M | ― | -72.52% | ― | 0.21% | -233.51% | |
48 Neutral | $60.46M | -1.42 | -302.55% | ― | 22.29% | 31.93% | |
43 Neutral | $638.06M | ― | -43.69% | ― | -21.02% | 47.74% | |
41 Neutral | $16.58M | -0.04 | -118.26% | ― | -25.02% | 85.08% |
* Healthcare Sector Average
BNGO
BioNano Genomics
1.63
-15.06
-90.23%
MYGN
Myriad Genetics
6.30
-11.01
-63.60%
FLGT
Fulgent Genetics
26.36
6.32
31.54%
PSNL
Personalis
6.93
2.01
40.85%
BNR
Burning Rock Biotech
11.79
8.05
215.24%
BDSX
Biodesix
7.73
-20.47
-72.59%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.