Bionano Genomics Reports Q2 Results: Revenue Down 13.4% YoY, Q3 and FY25 Outlook Reiterated.

Bionano Genomics reported Q2 net loss of $6.86M and revenue of $6.73M, a 13.4% YoY decline, beating estimates by $0.17M. The company reiterates its full-year 2025 revenue guidance of $26.0 to $30.0M.

Bionano Genomics (Nasdaq: BNGO) reported its second-quarter 2025 financial results, showing a strategic shift towards focusing on routine users of optical genome mapping (OGM) and VIA™ software. The company reported a net loss of $6.86 million and revenue of $6.73 million, a 13.4% year-over-year (YoY) decline, which beat analysts' estimates by $0.17 million. Despite the revenue decline, Bionano maintained its full-year 2025 revenue guidance of $26.0 to $30.0 million [1].

The company's gross margin improved significantly to 52% from 33% in Q2 2024, driven by a 16% increase in consumables and software revenues. Key operational metrics include 7,233 nanochannel array flowcells sold, up 17% YoY, and 7 new OGM system installations, reaching a total installed base of 378 systems. Operating expenses were reduced by 42% to $11.3 million, demonstrating disciplined execution [1].

The strategic pivot towards routine users of OGM technology appears to be working, as the company's gross margin surged to 52% from 33% a year ago. The 42% reduction in operating expenses further validates management's cost-saving efforts. While the 13% YoY revenue decline initially appears concerning, it is primarily due to the company's deliberate changes, such as discontinuing $0.7 million in clinical services and reducing instrument sales focus from $1.4 million to $2.3 million last year. When adjusting for these strategic shifts, the core consumables and software business actually grew by 16%, with flowcell sales increasing 17% to 7,233 units [1].

Bionano's Q2 results reveal a company in strategic transition, pivoting from a growth-at-all-costs approach to a more sustainable focus on high-margin recurring revenue. The company maintains a cash runway extending into Q1 2026 and expects Q3 2025 revenue of $6.7 to $7.2 million. The reaffirmed full-year revenue guidance and increased system installation target (20-25 vs previous 15-20) suggest growing confidence in their strategy. The increase in scientific publications (119 in Q2) and new CPT code establishment represent important validation markers that could accelerate clinical adoption [1].

The fundamental question remains whether Bionano can grow its recurring revenue fast enough to reach profitability before requiring additional financing. The company will host a conference call today, August 14, 2025, at 4:30 PM ET to discuss the results in more detail [1].

References:
[1] https://www.stocktitan.net/news/BNGO/bionano-reports-second-quarter-2025-results-and-highlights-recent-m88yepos1z4a.html