Bionano Q3 revenue $9.3M (+29% YoY); $80M convertible notes completed; $33M cost savings plan

Bionano Genomics, Inc.

2023-Q3 EPS reported -$5.85 revenue$25,395,000

Q3 revenue $9.3M, +29% YoY; GAAP gross margin 30% vs 25% YoY; non-GAAP operating expense $31.8M.
Completed $80M convertible notes offering (Oct 13), extending cash runway; cash & securities $63.6M.
Cost reduction initiatives expected to save ~$33M annually starting 2024; reiterated FY2023 rev guidance $35-$38M.
Saphyr installed base 301 (+39% YoY); flowcells sold 6,176 (+55% YoY); OGM publications up 61% YoY.
Appointed Gülsen Kama as CFO effective Sept 11, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Bionano Genomics, Inc. reported third quarter ended September 30, 2023 results: revenue $9.3 million. Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $9.3 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Bionano Reports Third Quarter 2023 Results and Highlights Recent Business Progress • Q3 2023 revenue was $9.3 million, which represents a 29% increase over Q3 2022 • Installed base of Saphyr ® systems totaled 301 as of September 30, 2023, which represents a 39% increase over the number of systems installed as of September 30, 2022 • Sold 6,176 nanochannel array flowcells in Q3 2023, which represents a 55% increase over the number of flowcells sold in Q3 2022

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Bionano Genomics, Inc. filing history →

Source: SEC EDGAR

accession 0001411690-23-000080

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