Bionano Genomics Reports Strong Q3 Earnings Amid Challenges

Bionano Genomics ((BNGO)) has held its Q3 earnings call. Read on for the main highlights of the call.

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Bionano Genomics’ recent earnings call painted a picture of robust financial health, underscored by strong revenue growth and record-breaking flow cell sales. The company has made significant strides in improving gross margins and reducing operating expenses, though it faces challenges with limited new system installations and a sluggish market in Japan. Despite these hurdles, Bionano’s cash reserves remain solid, albeit with some restrictions.

Revenue Growth

Bionano Genomics reported a total revenue of $7.4 million for the third quarter of 2025, marking a 21% increase compared to the same period in 2024. This growth highlights the company’s successful strategies in expanding its market presence and increasing sales.

Flow Cells Sales Record

The company set a new record by selling 8,390 flow cells in Q3 2025, a 7% increase from the previous year. This achievement reflects the growing demand and increased utilization among routine users, contributing to Bionano’s overall revenue growth.

Gross Margin Improvement

Bionano’s non-GAAP gross margin improved significantly to 46% in Q3 2025, up from 26% in Q3 2024. This improvement demonstrates the company’s effective cost management and operational efficiencies.

Operating Expense Reduction

The company successfully reduced its non-GAAP operating expenses to $9.7 million, a 40% decrease from $16.1 million in Q3 2024. This reduction is a testament to Bionano’s commitment to maintaining financial discipline and optimizing its operational structure.

Cash Position Strengthened

Bionano ended the third quarter with $31.8 million in cash, cash equivalents, and available-for-sale securities. This strong cash position provides the company with the financial flexibility to invest in future growth opportunities.

Expansion of Optical Genome Mapping (OGM)

The company saw a 10% increase in new publications related to its Optical Genome Mapping technology, with 97 new publications in Q3 2025. This growth underscores the scientific community’s recognition of OGM’s value and potential.

Limited Installed Base Growth

Bionano installed seven new systems but brought one back, resulting in a net increase of three systems, totaling 384 by the end of Q3 2025. This limited growth indicates challenges in expanding the installed base.

Cash Restrictions

Of the $31.8 million in cash, $10.3 million is subject to certain restrictions. These restrictions may impact the company’s ability to freely utilize its cash reserves for strategic initiatives.

Japanese Market Slow to Ramp

The Japanese market has been slow to evolve, with only one system installed in the region. This slow ramp-up poses a challenge for Bionano as it seeks to expand its presence in international markets.

Forward-Looking Guidance

Bionano Genomics reiterated its full-year revenue guidance of $26 million to $30 million, with expectations for Q4 revenues between $7.5 million and $7.9 million. The company remains optimistic about its growth trajectory, driven by increased flow cell sales and improved margins.

In conclusion, Bionano Genomics’ earnings call highlighted a strong financial performance with significant revenue growth and operational improvements. While the company faces challenges in expanding its installed base and penetrating the Japanese market, its robust cash position and strategic initiatives position it well for future growth.