Bionano Q2 revenue $7.8M (-10% YoY); FY2024 guidance $36-40M; retires $15.3M notes

Bionano Genomics, Inc.

2024-Q2 EPS reported -$0.79 revenue$16,540,000

Q2 2024 revenue $7.8M, down 10% YoY; GAAP gross margin 33% vs 27% in Q2 2023.
GAAP operating expense $19.6M, down 53% YoY; non-GAAP $18.8M, down 46%.
Cash and securities $30.3M as of June 30, with $11.4M restricted; $20M in debentures outstanding.
Retired $15.3M convertible notes for $17.6M redemption plus $2.2M fee, funded by $18M private placement of senior secured convertible debentures.
Guides full year 2024 revenue $36-40M; Q3 2024 revenue expected $7.9-8.9M.

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