NASDAQ$BNGO
BioNano Genomics Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Bionano reported a decrease in total revenue for Q4 2024 compared to the previous year, but showed significant improvement in GAAP gross margin. The company also reduced operating expenses and provided a positive outlook for 2025.
Bionano Genomics reported a total revenue of $8.2 million for the fourth quarter of 2024, a 24% decrease compared to Q4 2023, primarily due to the discontinuation of clinical services. However, GAAP gross margin significantly improved to 42% from 23% in the prior year. The company also achieved substantial reductions in operating expenses, decreasing them to $15.4 million from $27.4 million in Q4 2023.
- Total revenue for Q4 2024 was $8.2 million, a 24% decrease from Q4 2023, mainly due to the absence of revenue from discontinued clinical services.
- GAAP gross margin for Q4 2024 significantly increased to 42% from 23% in Q4 2023, indicating improved profitability on core operations.
- Fourth quarter 2024 GAAP operating expense decreased substantially to $15.4 million from $27.4 million in Q4 2023, reflecting successful cost reduction initiatives.
- The installed base of OGM systems grew by 14% year-over-year, reaching 371 systems by the end of 2024, and flowcell sales increased by 1% in Q4 2024 compared to Q4 2023.
Headline financials
Revenue & EPS history
BioNano · Revenue · Quarterly
$8.16M
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 anticipates full year 2025 revenue to be between $29.0 million and $32.0 million, with Q1 2025 revenue projected between $6.2 million and $6.3 million. The company expects to install 15 to 20 new OGM systems in 2025 and projects cash runway into the first quarter of 2026.
Tailwinds
- Full year 2025 revenue is projected to be in the range of $29.0 million to $32.0 million.
- Q1 2025 revenue is anticipated to be in the range of $6.2 million to $6.3 million.
- Installation of 15 to 20 new OGM systems is expected in 2025, at both existing customer sites and new target geographies.
- Cash runway is projected to extend into the first quarter of 2026, supported by cost savings, capital efficiency, debt restructuring, and equity capital raised.
- The AMA established a Category I CPT code for OGM, effective January 1, 2025, which is expected to facilitate reimbursement from insurance companies.
Headwinds
- The forward guidance for full year 2025 revenue ($29.0M - $32.0M) is lower than the full year 2024 revenue ($30.8M), indicating a potential flat to slight decrease in revenue.
- The Q1 2025 revenue guidance ($6.2M - $6.3M) is lower than the Q4 2024 revenue ($8.2M), suggesting a sequential decline.
- The company continues to operate at a net loss, as indicated by the Q4 2024 net loss of $20.125 million.
- Despite cost reduction efforts, the company still relies on additional financing and debt restructuring to extend its cash runway.
- The company's ability to meet its forward guidance depends on successful market adoption and continued demand for its products in a challenging external environment.
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 2024
-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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