Bionano Genomics Achieves Growth in Q1 2024 Financial Results

Wednesday, 8 May 2024, 22:30
Bionano Genomics reported $8.8 million in revenue in Q1 2024, representing an 18% year-over-year increase. The company's focus remains on long-term growth and efficiency, with strategic initiatives to drive adoption of optical genome mapping. Bionano Genomics is on track to meet its goals for system installations and revenue guidance for 2024, despite challenges in the capital markets.
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Bionano Genomics Achieves Growth in Q1 2024 Financial Results

Bionano Genomics Q1 2024 Earnings Call Transcript

Bionano Genomics (NASDAQ: BNGO) held its Q1 2024 earnings call on May 08, 2024, sharing financial results and company updates.

Financial Performance Overview:

  • Revenue: $8.8 million, 18% YoY increase
  • OGM Installed Base Growth: 347 systems, 34% YoY increase
  • GAAP Gross Margin: 32%
  • Non-GAAP Gross Margin: 34%

Key Highlights: Bionano Genomics continues to focus on revenue growth, efficiency, and capital raising to extend cash runway for profitability.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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