---
schema_version: "secwatch.filing_event.v1"
accession: "0001411690-24-000004"
form_type: "8-K"
ticker: "BNGO"
cik: "0001411690"
company_name: "Bionano Genomics, Inc."
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T03:40:25.413353+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bionano Genomics reports Q4 revenue $10.7M (+30% YoY), announces 34-39% workforce reduction

## Summary
- Q4 2023 revenue $10.7M, FY 2023 revenue $36.1M, both up 30% YoY.
- GAAP gross margin Q4 23%, FY 26% (up from 21% in 2022).
- Plans to cut 110-125 employees (34-39% of workforce) and phase out testing services generating 19.4% of FY 2023 revenue.
- Restructuring expected to yield $35-40M annual operating expense savings starting H2 2024.
- No specific 2024 revenue guidance provided; cash and securities $102.3M at year-end.

## SEC filing metadata
- accession: 0001411690-24-000004
- form_type: 8-K
- ticker: BNGO
- cik: 0001411690
- company_name: Bionano Genomics, Inc.
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1411690/000141169024000004/0001411690-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1411690/000141169024000004/bngo-20240301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001411690-24-000004
- JSON: https://secwatch.observer/filing/0001411690-24-000004.json
- Plain text: https://secwatch.observer/filing/0001411690-24-000004.txt

## Key facts
- Earnings Releases
  Bionano Genomics, Inc. reported the fourth quarter and full year ended December 31, 2023 results: revenue $10.7 million.
  - Period: the fourth quarter and full year ended December 31, 2023
  - Revenue: $10.7 million
  - Result: reported results
  source text: Bionano Reports Fourth Quarter and Full-Year 2023 Results and Provides Revenue Outlook for 2024 • Q4 2023 revenue was $10.7 million , which represents a 30% increase over Q4 2022 • FY 2023 revenue was $36.1 million , which represents a 30% increase over FY 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1411690/000141169024000004/0001411690-24-000004-index.htm
- Restructurings & Charges
  Bionano Genomics, Inc. announced a restructuring affecting global operations (approximately 110 to 125 employees).
  - Type: restructuring
  - Affected area: global operations
  - Headcount: approximately 110 to 125 employees
  source text: On March 1, 2024, the Company committed to a corporate reorganization plan (the “Plan”), including a reduction in force (the “Reduction”) intended to decrease expenses and maintain a streamlined organization to support key programs that are expected to drive long-term growth.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1411690/000141169024000004/0001411690-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.