NASDAQ$BNGO
BioNano Genomics Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported a 30% revenue increase compared to Q4 2022, driven by growth in OGM installed base and consumables sales.
Bionano Genomics reported a 30% increase in Q4 2023 revenue compared to Q4 2022, reaching $10.7 million. The company's ELEVATE strategy is working, with progress in OGM installed base and consumables unit sales.
- Q4 2023 revenue increased by 30% year-over-year, reaching $10.7 million.
- Full year 2023 revenue increased by 30% year-over-year, reaching $36.1 million.
- Installed base of OGM systems increased by 36% year-over-year, totaling 326 systems at year-end 2023.
- Flowcells sales increased by 67% year-over-year in Q4 2023.
Headline financials
Revenue & EPS history
BioNano · Revenue · Quarterly
$10.7M
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 expects full year 2024 revenue to be in the range of $37.0 to $41.0 million and Q1 2024 revenue is expected to be in the range of $8.25 to $8.75 million.
Tailwinds
- Focus on addressing cash burn and financial discipline.
- Actions to improve margins and further extend cash runway.
- Cost savings initiatives are expected to have a positive impact on operating expenses.
- Anticipate installation of 80 to 100 new OGM systems in 2024, with a projected 2024 installed base range of 381 to 401 OGM systems.
- Recently amended the convertible debt financing entered into in October 2023 to restructure our debt obligations
Headwinds
- Phasing out First Step and Next Step Dx clinical services products and our Fragile X test, which are legacy, non-OGM tests.
- Potential reduction in headcount by an additional 110 to 125 employees.
- Exploring strategic opportunities that could include debt financing, equity investments, combinations with other companies, or the sale of all or part of the company.
- The company expects to incur costs related to the cost saving initiatives.
- There can be no assurances that any transactions will be completed, and we do not intend to disclose or comment on interim developments except to the extent required by law.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
-3.3%
Avg return
Earnings day
-6.2%
Avg return
5 days after
-8.0%
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 |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -9.5% | — | |
| Q4 2025 | +0.9% | -20.5% | -17.1% | |
| 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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