Revenue growth has contracted significantly, with the latest quarterly data showing a 7.37% year-over-year decline and operating losses reaching as high as 146.3% of revenue in 2024Q4.
| Sales/Revenue | 28.74M | 28.51M | 30.78M | 36.12M | 27.8M | 17.98M | 8.5M | 10.13M | 12M | 9.51M | 6.79M |
| Revenue Growth % | 0.96% | -7.37% | -14.79% | 29.9% | 54.62% | 111.47% | -16.06% | -15.59% | 26.26% | 39.93% | - |
| Cost of Goods Sold | 15.24M | 22.25M | 30.4M | 26.55M | 21.86M | 14.11M | 5.73M | 6.77M | 8.71M | 6.03M | 3.58M |
| COGS % of Revenue | - | 78.05% | 98.77% | 73.51% | 78.62% | 78.45% | 67.39% | 66.82% | 72.59% | 63.45% | 52.68% |
| Gross Profit | 13.5M | 6.26M | 380K | 9.57M | 5.95M | 3.87M | 2.77M | 3.36M | 3.29M | 3.47M | 3.21M |
| Gross Margin % | 46.97% | 21.95% | 1.23% | 26.49% | 21.38% | 21.55% | 32.61% | 33.18% | 27.41% | 36.55% | 47.32% |
| Gross Profit Growth % | - | 1546.84% | -96.03% | 60.91% | 53.46% | 39.7% | -17.5% | 2.19% | -5.33% | 8.1% | - |
| Operating Expenses | 46.27M | 39.6M | 104.36M | 224.81M | 137.64M | 80.97M | 41.32M | 29.24M | 23.7M | 26.09M | 24.38M |
| OpEx % of Revenue | - | 138.9% | 339.11% | 622.47% | 495.08% | 450.34% | 485.99% | 288.62% | 197.53% | 274.47% | 358.95% |
| Selling, General & Admin | 34.13M | 28.22M | 51.85M | 94.96M | 88.6M | 58.49M | 0 | 20.16M | 14.22M | 14.08M | 12.95M |
| SG&A % of Revenue | - | 99% | 168.49% | 262.93% | 318.67% | 325.29% | - | 198.98% | 118.5% | 148.13% | 190.65% |
| Research & Development | 12.14M | 11.37M | 24.8M | 54.03M | 49.05M | 22.48M | 10.26M | 9.08M | 9.48M | 12.01M | 11.43M |
| R&D % of Revenue | - | 39.9% | 80.59% | 149.61% | 176.42% | 125.05% | 120.62% | 89.65% | 79.03% | 126.35% | 168.3% |
| Other Operating Expenses | 0 | 0 | 27.7M | 75.82M | 0 | 0 | 31.07M | 0 | 0 | 0 | -203.28K |
| Operating Income | -32.77M | -33.34M | -103.98M | -215.25M | -131.7M | -77.1M | -38.55M | -25.87M | -20.42M | -23.22M | -21.17M |
| Operating Margin % | -114.03% | -116.95% | -337.87% | -595.98% | -473.7% | -428.79% | -453.38% | -255.44% | -170.12% | -244.28% | -311.63% |
| Operating Income Growth % | - | 67.94% | 51.69% | -63.44% | -70.81% | -100% | -48.99% | -26.74% | 12.08% | -9.69% | - |
| EBITDA | -23.27M | -23.61M | -89.76M | -201.54M | -121.6M | -73.73M | -37.07M | -24.75M | -19.09M | -21.71M | -20.05M |
| EBITDA Margin % | -80.96% | -82.81% | -291.65% | -558.03% | -437.38% | -410.05% | -435.99% | -244.31% | -159.11% | -228.46% | -295.22% |
| EBITDA Growth % | 65.62% | 73.7% | 55.46% | -65.74% | -64.92% | -98.89% | -49.8% | -29.6% | 12.07% | -8.28% | - |
| D&A (Non-Cash Add-back) | 9.51M | 9.73M | 14.23M | 13.71M | 10.1M | 3.37M | 1.48M | 1.13M | 1.32M | 1.5M | 1.12M |
| EBIT | -32.77M | -33.34M | -111.69M | -227.31M | -130.41M | -77.22M | -37.05M | -27.51M | -17.1M | -22.76M | -18.37M |
| Net Interest Income | 758K | 813K | 1.81M | -1.81M | 1.21M | -691K | -2.52M | -2.29M | -1.38M | -590.93K | -470.07K |
| Interest Income | 1.04M | 1.11M | 2.1M | 3.31M | 1.51M | 236K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 286K | 298K | 289K | 5.12M | 298K | 927K | 2.52M | 2.29M | 1.38M | 590.93K | 470.07K |
| Other Income/Expense | 1.24M | 7.01M | -8M | -17.19M | 986K | -1.05M | -2.53M | -3.92M | 1.93M | -128K | 2.33M |
| Pretax Income | -31.53M | -26.33M | -111.98M | -232.43M | -130.71M | -78.15M | -41.08M | -29.79M | -18.48M | -23.35M | -18.84M |
| Pretax Margin % | -109.7% | -92.35% | -363.87% | -643.57% | -470.15% | -434.64% | -483.09% | -294.13% | -154% | -245.63% | -277.29% |
| Income Tax | 69K | 67K | 33K | 62K | 1.88M | -5.72M | 29K | 21.05K | 15.51K | 18.55K | 12.92K |
| Effective Tax Rate % | -0.22% | -0.25% | -0.03% | -0.03% | -1.44% | 7.32% | -0.07% | -0.07% | -0.08% | -0.08% | -0.07% |
| Net Income | -31.6M | -26.39M | -112.02M | -232.49M | -132.6M | -72.44M | -41.11M | -29.82M | -18.5M | -23.37M | -18.85M |
| Net Margin % | -109.95% | -92.59% | -363.98% | -643.74% | -476.93% | -402.84% | -483.43% | -294.34% | -154.13% | -245.82% | -277.48% |
| Net Income Growth % | 62.25% | 76.44% | 51.82% | -75.34% | -83.06% | -76.22% | -37.87% | -61.19% | 20.84% | -23.96% | - |
| Net Income (Continuing) | -31.6M | -26.39M | -112.02M | -232.49M | -132.6M | -72.44M | -41.11M | -29.82M | -18.5M | -23.37M | -18.85M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -5.80 | -4.85 | -88.13 | -408.60 | -267.71 | -157.02 | -14194.80 | -71662.20 | -94089.60 | 0.00 | 0.00 |
| EPS Growth % | 89.87% | 94.5% | 78.43% | -52.63% | -70.49% | 98.89% | 80.19% | 23.84% | - | - | - |
| EPS (Basic) | - | -4.85 | -88.13 | -408.48 | -267.71 | -157.02 | -14194.80 | -71662.20 | -94089.60 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 5.45M | 5.45M | 1.9M | 580.55K | 491.66K | 470.53K | 177.23K | 424 | 201 | 0 | 0 |
| Basic Shares Outstanding | 5.45M | 5.45M | 1.9M | 580.38K | 491.66K | 470.53K | 177.23K | 424 | 201 | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Acute liquidity and dilution
As indicated by the most recent quarterly data, Bionano Genomics has experienced a contraction in top-line performance, with revenue growth fluctuating significantly and ultimately trending downward compared to historical peaks, as evidenced by the -7.37% year-over-year decline observed in the latest reported financial period.
The inconsistency in revenue generation suggests that the company is struggling to achieve the necessary market penetration for its Saphyr platform. Investors should monitor whether this volatility reflects a fundamental lack of demand or merely the lumpy nature of capital equipment sales in the clinical research space.
Based on the provided income statement figures, the company's gross margin profile remains highly inconsistent, oscillating between 22.7% and 51.6% over the last ten quarters, which highlights a lack of manufacturing efficiency and pricing power relative to more established diagnostic tool providers in the genomics sector.
The inability to maintain a stable, high-margin profile suggests that the cost of producing Saphyr chips and reagents remains disproportionately high relative to their current market price. This margin volatility warrants further investigation into whether the company can achieve the economies of scale required to reach profitability.
According to the reported financial statements, Bionano's operating expenses continue to dwarf gross profit, resulting in persistent operating losses that have reached as high as -146.3% of revenue, indicating that the company has yet to demonstrate any meaningful operating leverage in its current business model.
The high fixed-cost structure, driven by significant R&D and sales force investments, appears to be outpacing the company's ability to generate revenue. This suggests that the current path to operational break-even is likely to remain elusive without a substantial increase in the installed base and consumable pull-through.
As reflected in the quarterly income statements, the company's SG&A and R&D spending patterns appear disconnected from revenue growth, with operating losses frequently exceeding total revenue, which suggests that management has prioritized aggressive market expansion over the maintenance of a disciplined and sustainable cost structure.
The erratic nature of SG&A spending, which has seen periods of extreme volatility, implies that the company may be struggling to manage its customer acquisition costs effectively. Investors should monitor whether future cost-cutting measures can be implemented without further damaging the company's already fragile revenue trajectory.
While the company's Optical Genome Mapping technology offers a unique value proposition, the financial data reveals a precarious liquidity position, with cash reserves of approximately $2.99M, which may indicate that the company is nearing a point where further dilutive financing is an operational necessity.
Short-sellers would likely focus on the disconnect between the company's long-term technological narrative and its immediate, severe cash burn. The lack of a clear path to self-funding suggests that the company's survival is currently more dependent on capital market access than on its core diagnostic business performance.
Quick answers to the most common questions about buying BNGO stock.
For fiscal year 2025, Bionano Genomics, Inc. (BNGO) reported total revenue of $28.5M. This represents a 319.7% increase compared to $6.8M in 2016.
Bionano Genomics, Inc. (BNGO) reported a net loss of $26.4M for the fiscal year ending 2025.
Bionano Genomics, Inc. (BNGO) reported an operating income of $-33.3M, resulting in an operating profit margin of -116.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Bionano Genomics, Inc. (BNGO) generated $6.3M in gross profit for the year, representing a gross profit margin of 22.0%. This demonstrates the company's core pricing power and production efficiency.