Bionano Genomics Preliminary Q4, FY21 Revenue Exceed Expectations

Bionano Genomics Inc BNGO posted preliminary Q4 sales of $5.8 million - $6.2 million, +25% - 33% sequentially, up 45% - 55% Y/Y, and above the consensus of $5.44 million.

• FY21 revenue is expected to be $17.5 million - $17.9 million (consensus $17.13 million), more than doubled from FY20.
• Bionano also reported a record net increase in the installed base of 23 Saphyr systems in Q4, bringing the year-end total to 164, representing a 69% increase over the 97 installed systems reported at the end of 2020 and exceeding goal 150 systems.
• "We ended the year with much momentum across the business and have achieved or exceeded all of the milestones we set out at the beginning of 2021," commented Erik Holmlin, President and CEO. "The integration of BioDiscovery is going well and the results from our first interim readout from our postnatal clinical trial exceeded our expectations."
• Price Action: BNGO shares are up 1.46% at $2.78 during the market session on the last check Wednesday.