NASDAQ$BNGO
BioNano Genomics Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Bionano's financial performance for Q1 2024 showed revenue growth and progress in cost-saving initiatives.
Bionano Genomics reported an 18% increase in revenue for Q1 2024 compared to Q1 2023, reaching $8.8 million. The company also saw growth in its installed base of OGM systems and flowcell sales. Efforts to reduce cash burn and operating expenses continued with expanded cost savings initiatives.
- Q1 2024 revenue increased by 18% year-over-year, reaching $8.8 million.
- The installed base of optical genome mapping (OGM) systems grew by 34% compared to Q1 2023, totaling 347 systems.
- Nanochannel array flowcell sales increased by 58% compared to Q1 2023, with 8,249 flowcells sold.
- The company is implementing cost savings initiatives, planning to reduce headcount by approximately 200 people by the end of Q2 2024 and reduce annualized non-GAAP operating expenses by $65.0 to $75.0 million by Q1 2025.
Headline financials
Revenue & EPS history
BioNano · Revenue · Quarterly
$8.77M
Revenue by segment
BioNano · $9.32M total across 2 segments · Q3 2023
- Product Revenue$6.46M+79.0%69.3%
- Service and Other Revenue$2.86M-20.8%30.7%
Forward guidance
Bionano reiterated its full year 2024 revenue guidance of $37.0 to $41.0 million. Revenue for the second quarter of 2024 is expected to be $7.8 to $8.2 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2024
-3.3%
Avg return
Earnings day
-5.4%
Avg return
5 days after
-7.7%
Avg return
30 days after
40%
12 / 30 earnings
Positive
+15.5%
Q4 2018
Best reaction
-29.8%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +0.9% | +1.6% | — | |
| Q1 2026 | -0.8% | -9.5% | -7.9% | |
| Q3 2025 | +2.8% | +4.8% | +10.2% | |
| Q1 2025 | +2.9% | +0.8% | -2.4% | |
| Q4 2024 | +11.1% | +8.6% | +43.4% | |
| Q3 2024 | -3.4% | -11.5% | -7.7% | |
| Q2 2024 | -21.5% | -23.5% | -13.7% | |
| Q1 2024 | +2.7% | +7.3% | -9.4% | |
| Q4 2023 | +0.0% | -5.8% | -18.2% | |
| Q3 2023 | -7.0% | -10.5% | +2.8% | |
| Q2 2023 | -0.2% | -13.9% | -15.7% | |
| Q1 2023 | +6.9% | -9.6% | +0.0% | |
| Q4 2022 | -8.4% | -5.3% | -19.8% | |
| Q3 2022 | +2.7% | +2.2% | -6.3% | |
| Q2 2022 | +6.6% | +0.0% | +2.2% | |
| Q1 2022 | -16.1% | -24.2% | -10.8% | |
| Q4 2021 | +1.4% | -10.7% | +20.6% | |
| Q3 2021 | -9.8% | -13.7% | -44.4% | |
| Q2 2021 | +5.4% | +4.4% | -1.0% | |
| Q1 2021 | +13.9% | +22.8% | +59.9% | |
| Q4 2020 | -17.9% | -14.4% | -34.1% | |
| Q3 2020 | -7.4% | -5.4% | -10.7% | |
| Q2 2020 | -8.4% | -6.5% | -32.5% | |
| Q1 2020 | -8.4% | -11.8% | +21.6% | |
| Q4 2019 | -29.8% | -30.3% | -74.3% | |
| Q3 2019 | -2.1% | +17.8% | +24.4% | |
| Q2 2019 | -14.4% | -11.3% | -50.5% | |
| Q1 2019 | -11.3% | -17.0% | -28.1% | |
| Q4 2018 | +15.5% | +7.4% | -8.1% | |
| Q3 2018 | -6.0% | -5.7% | -11.9% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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