Bionano Q1 revenue $7.4M (+30% YoY); announces ~$20M cost reduction plan including layoffs

Bionano Genomics, Inc.

2023-Q1 EPS reported -$0.12 revenue$7,415,000

GAAP gross margin improved to 28% from 15% YoY; non-GAAP gross margin 30%.
GAAP operating expense $39.9M; cash, equivalents and securities $95.8M (down from $113.2M).
Installed base 259 Saphyr systems (+47% YoY); 5,226 flowcells sold (+62% YoY).
Cost reduction initiative targets ~$20M savings over 4–5 quarters, includes workforce reduction effective May 8, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bionano Genomics, Inc. reported first quarter ended March 31, 2023 results: revenue $7.4 million.

Period: first quarter ended March 31, 2023
Revenue: $7.4 million
Result: reported results

Exact text from the filing

Total revenue for the first quarter of 2023 was $7.4 million

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Bionano Genomics, Inc. filing history →

Source: SEC EDGAR

accession 0001411690-23-000022

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