secwatch.observer — SEC 8-K summary
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Issuer:     Bionano Genomics, Inc. (BNGO)
CIK:        0001411690
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0001411690-24-000060
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bionano Q3 revenue $6.1M (-35% YoY); GAAP gross margin -139% on $9.8M impairment; cash burn down
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- Revenue $6.1M (-35% YoY); core product/software sales $6.6M offset by $0.5M receivable write-down from discontinued clinical services.
- GAAP gross margin (139)% vs 30% YoY due to $9.8M impairment/disposal of reagent rentals and inventory; non-GAAP margin 26%.
- GAAP operating expense $35.5M; non-GAAP $16.1M (-49% YoY). Cash, securities & restricted cash $23.4M as of Sept 30.
- Installed base 368 OGM systems (+22% YoY); 7,835 flowcells sold (+27% YoY). Raised $10M upfront from registered direct offering & warrants Q3, plus $3M post-Q3.
- Special meeting adjourned for lack of quorum; reconvenes Nov 27. CPT code for OGM in blood cancers expected 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1411690/000141169024000060/0001411690-24-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1411690/000141169024000060/bngo-20241113.htm
  HTML page:      https://secwatch.observer/filing/0001411690-24-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer