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Bionano Genomics Expecting Sharp Increases in Q4, Full-Year 2021 Revenues

NEW YORK — Optical genome mapping provider Bionano Genomics said on Wednesday that it is expecting as much as a 55 percent jump in fourth quarter revenues year over year, with revenues for the full year 2021 more than doubling over the year before.

For the three-month period ended Dec. 31, Bionano anticipates revenues between $5.8 million and $6.2 million, compared with $4 million in the fourth quarter of 2020. Analysts, on average, expected the San Diego-based firm to report revenues of approximately $5.4 million for the quarter.

Full-year 2021 revenues are expected to be between $17.5 million and $17.9 million, topping the $8.5 million generated in 2020 and the Wall Street consensus estimate of around $17.1 million.

Bionano also said that it installed 23 new Saphyr optical genome mapping systems in the fourth quarter, bringing the total number of installed instruments to 164, exceeding its goal of 150 installations by the end of 2021.

"We ended the year with a lot of momentum across the business and have achieved or exceeded all of the milestones we set out at the beginning of 2021," Bionano CEO Erik Holmlin said in a statement. "The integration of [recent acquisition] BioDiscovery is going well, and the results from our first interim readout from our postnatal clinical trial exceeded our expectations."