BioNano Genomics Reports Q4 Beat, Issues FY23 Guidance: What Investors Need To Know

BioNano Genomics Inc BNGO shares are trading marginally lower during Thursday's after-hours session after the company reported fourth-quarter financial results and issued FY23 sales guidance.

BioNano's Sales Results, Guidance

• BioNano reported quarterly sales of $8.21 million, which beat the analyst consensus estimate of $8 million by 2.69%. This sales figure represents a 30.4% increase over sales of $6.3 million in the same period last year.
• The life sciences instrumentation company meanwhile sees revenue in the range of $35-$38 million for FY23, which is below the analyst consensus estimate of $39.62 million.
• BioNano says 2022 revenue was $27.8 million, which represents a 55% increase over year-end 2021.

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BioNano's Management Commentary

"We started the year against a challenging external backdrop, and over the course of the year achieved or exceeded all of the stated 2022 ELEVATE! milestones we outlined at the beginning of 2022," commented Erik Holmlin, president and chief executive officer of Bionano.

"Bionano issued revenue guidance for the first time in 2022, and we exceeded our total 2022 guidance range. We were also pleased to see an uptick in overall awareness and adoption of optical genome mapping (OGM) across the globe," Holmlin stated.

According to data from Benzinga Pro, BioNano Genomics is trading lower by 1.6% to $1.23. BNGO has a 52-week high of $4.35 and a 52-week low of $1.16.

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