Bionano Genomics (BNGO) investor relations material

Executive summary

• Q3 2025 revenue was $7.4 million, with year-over-year growth reported as both up 21% and down 21% due to differences in core versus total revenue; product revenue rose 15%, and flowcell sales increased 7% year-over-year.

• Strategic focus on routine users, consumables, and software drove revenue growth and improved margins, supported by disciplined expense management.

• Installed base expanded to 384 OGM systems, with notable growth in key geographies and new regions like Japan.

• Net loss for Q3 2025 was $8.5 million, a significant improvement from $44.2 million in Q3 2024, driven by cost-saving initiatives and reduced operating expenses.

• Cash, cash equivalents, and short-term investments totaled $31.8 million at quarter-end, following a $10 million public offering.

Financial highlights

• Q3 2025 revenue reached $7.4 million, with core revenue up 12% after adjusting for discontinued services; product revenue was $6.9 million, up 15% year-over-year.

• Sold 8,390 flowcells in Q3 2025, a 7% increase year-over-year; instrument revenue reached $1.6 million.

• Non-GAAP gross margin improved to 46% from 26% in Q3 2024; GAAP gross margin was 46%, up from (139)% in Q3 2024.

• Non-GAAP operating expense was $9.7 million, down 40% year-over-year; GAAP operating expenses were $11.9 million, down 66%.

• Ended Q3 with $31.8 million in cash, cash equivalents, and short-term investments; $10.3 million subject to restrictions.

Outlook and guidance

• Full-year 2025 revenue guidance reiterated at $26–30 million.

• Q4 2025 revenue expected between $7.5–$7.9 million.

• System installations projected to surpass 25 for the year, exceeding prior guidance.

• Management expects continued operating losses and negative cash flows for at least the next year; current resources expected to fund operations into Q3 2026.