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Bionano Genomics Expecting Approximately 30 Percent Increase in Q4 Revenues

NEW YORK – Bionano Genomics said on Thursday that it is expecting as much as 33 percent year-over-year growth in fourth quarter revenues.

For the three-month period ended Dec. 31, Bionano reported preliminary revenues between $8.1 million and $8.4 million, a 29 percent to 33 percent increase over $6.3 million in Q4 2021. Analysts, on average, expected the company to report approximately $7.9 million in revenues for the quarter.

For full-year 2022, the San Diego-based optical genome mapping firm anticipates revenues to be in the range of $27.7 million to $28 million, corresponding to a 54 percent to 56 percent increase from $18 million in 2021. The Wall Street consensus estimate of the company’s full-year revenues was around $27.4 million.

Bionano also said it grew its installed base of Saphyr systems to 240 at year-end, a 46 percent increase over the 164 systems installed at the end of 2021.

"We ended an outstanding year with a lot of momentum across all facets of our business," Bionano President and CEO Erik Holmlin said in a statement. "We were also pleased to see an incredible uptick in overall awareness and adoption of optical genome mapping (OGM) across the globe."