Bionano Genomics Reports Preliminary Fourth Quarter and Full-Year 2022 Results
- Preliminary Q4 revenue expected to be between
- Reached installed base of 240 systems as of YE 2022; 46% increase over YE 2021
- Achieved or exceeded all stated goals and milestones for the full year 2022
“We ended an outstanding year with a lot of momentum across all facets of our business and have achieved or exceeded all of the stated 2022 ELEVATE! milestones we set out at the beginning of 2022,” commented
Q4 2022 Highlights
- Revenues for the fourth quarter 2022 are expected to be in the range of
$8.1 millionto $8.4 million, an estimated increase of 12% to 16% compared to $7.2 millionin the third quarter of 2022 and an estimated increase of 27% to 33% compared to the fourth quarter of 2021. Full year 2022 revenue is expected to be in the range of $27.7 millionand $28.0 million, an estimated increase of between 54% and 56% compared to 2021.
- Installed base of Saphyr® systems totaled 240 at year-end, which was an increase of 23 systems over third quarter 2022 and represented a 46% increase over the 164 installed systems reported at the end of 2021.
- Sold 4,781 flowcells, an increase of 49% over the fourth quarter of 2021.
- Completed acquisition of Purigen Biosystems, which is expected to accelerate the adoption of OGM due to anticipated improvements in Bionano’s ultra-high molecular weight (UHMW) DNA sample preparation workflow.
Achieved All Full-Year 2022 ELEVATE! Milestones
- Launched OGM laboratory developed tests (LDTs) for hematological malignancy and genetic disorder applications through
- Pre-commercial version of next generation OGM system running in the field with a planned commercial launch in first half of 2023
- Developed and released enhanced DLS G2 labeling and SP Next DNA isolation kits which enable sample to results in as little as 3 days for cancer samples
- In partnership with Hamilton, released an automated version of Bionano’s DNA isolation chemistry
- NxClinical™ software version 7.0, which is the version of NxClinical software enabled for OGM data analysis, is being used in the field and full commercial release for applications in hematological malignancies is planned for the first half of 2023
- Met all previously stated 2022 milestones for prenatal, postnatal and hematological clinical trials, including: study enrollment targets; completion of postnatal study, which has been submitted for publication as a pre-print; interim publication of the prenatal study, which was published in
December 2022as a pre-print; and initiation of the solid tumor trial.
“We’ve been working hard to achieve the revenue growth we expect to report for the fourth quarter and full year 2022 compared to the same periods in 2021,” added
Bionano has not completed preparation of its financial statements for the fourth quarter or full year of 2022. The revenue ranges presented in this press release for the fourth quarter of 2022 and for the year ended
Bionano Genomics is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company’s mission is to transform the way the world sees the genome through OGM solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, the Company also offers an industry-leading, platform-agnostic software solution, which integrates next-generation sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. For more information,visit www.bionanogenomics.com, www.bionanolaboratories.com or www.biodiscovery.com
Forward-Looking Statements of
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “expect,” “may,” “plan,” “will,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify these forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, and the preliminary measures of our financial performance, including our fourth quarter and 2022 year-end revenue guidance, and our prospects for 2023. Each of these forward-looking statements involves risks and uncertainties. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include the risks and uncertainties associated with: adjustments to these preliminary measures of financial performance resulting from, among other things, the completion of our end-of-period reporting processes; the timing and amount of revenue we are able to recognize in a given fiscal period; the impact of adverse geopolitical and macroeconomic events, such as the COVID-19 pandemic and the ongoing conflict between
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Source: Bionano Genomics