SAN DIEGO, May 13, 2026 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today reported financial results for the first quarter ended March 31, 2026.
"The Bionano business is healthy, with first quarter results reflecting the continued engagement of our installed base and positive utilization trends across our optical genome mapping (OGM) and VIA software user community," commented Al Luderer, Ph.D., chairman and interim chief executive officer of Bionano. "The evidence base supporting OGM continues to expand across hematologic malignancies, constitutional genetics, and cell and gene therapy applications, and we are seeing global broad-based adoption at leading institutions. We remain convinced that OGM is on a clear and accelerating path to becoming the standard for comprehensive, genome-wide structural variant analysis. Equally important, we are closing in on a meaningful balance sheet milestone - the expected retirement of our secured convertible debt - which will further strengthen our financial position and allow us to direct future capital towards growing our business."
Q1 2026 Financial Results
For the three-month period ended March 31, 2026, as compared to the same period of 2025:
-- Reported total revenue of $6.7 million, representing an increase of 4%
from $6.5 million compared to the first quarter of 2025.
-- Consumables revenue was $3.9 million, representing an increase of
20% compared to the first quarter of 2025.
-- Sold 8,178 nanochannel array flow cells in the first quarter of 2026,
representing an increase of 17% over the 6,994 flow cells sold in the
first quarter of 2025.
-- Generated gross margin of 49%, compared to 46% for the first quarter of
2025, and adjusted gross margin1 of 49%, compared to 46% for the first
quarter of 2025.
-- Reduced operating expenses by 2% to $11.1 million and increased adjusted
operating expense1 by 7% to $9.1 million.
Recent Business Highlights:
-- January 1, 2026, a new Category I CPT code (81354) for the use of OGM in
cytogenomic genome-wide analysis to detect structural and copy number
variations related to constitutional genetic disorders, went effective on
the clinical lab fee schedule (CLFS). The new code covers the OGM-Dx$(TM)$
Postnatal Whole Genome SV and OGM-Dx(TM) Prenatal Whole Genome SV LDTs
and is priced above comparable microarray codes.
-- Final 2026 Clinical Lab Fee Schedule reflected a 47% increase in the
payment determination for CPT code 81195, covering OGM use in hematologic
malignancy analysis, rising from $1,263.53 to $1,853.22, effective
January 1, 2026.
-- New publication from Johns Hopkins and MD Anderson Cancer Center in
the American Journal of Hematology demonstrating that OGM can
significantly outperform traditional analytical methods for detection of
structural variations and chromosomal abnormalities in multiple myeloma.
-- New publication from Sanford Burnham Prebys Medical Discovery Institute
describing use of OGM to detect genomic alterations introduced by gene
editing technologies.
-- Demonstrated growing utility of OGM in analysis of rare diseases with 28
publications in the first quarter, a 56% increase over the prior year
period.
-- Highlighted advances in optical genome mapping through twelve studies
presented at ACMG 2026.
-- Hosted the Bionano Symposium 2026 with robust attendance, drawing more
than 1,250 registrants across nearly 35 external presentations from 33
different presenters, spanning hematologic malignancies, oncology
research, bioprocessing applications, and constitutional genetic disorder
research, with leading institutions describing automation of OGM
workflows and plans to scale to thousands of samples per year.
2026 Outlook
We anticipate the following results for Q2 and the full year 2026:
-- Q2 2026 revenue guidance in the range of $7.5 to $7.8 million. -- Full year 2026 revenue guidance in the range of $30 to $33 million.
Webcast Details
Date: Wednesday, May 13, 2026
Time: 4:30 p.m. Eastern Time
Participant Registration: Registration -- Click Here
Webcast: Registration -- Click Here
Participants should register at the link above in advance of the call, and then click the webcast link before the call begins. An archived version of the webcast will be available for replay in the Investors section of the Bionano website.
(1 "Adjusted gross margin" and "adjusted operating expense" are non-GAAP financial measures. Please refer to the section titled "Adjusted Financial Measures" below for a description of the adjusted financial measures used herein. Reconciliations of adjusted financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this release.)
About Bionano
Bionano 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 optical genome mapping (OGM) solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. The Company also offers an industry-leading, platform-agnostic genome analysis software solution, and nucleic acid extraction and purification solutions using proprietary isotachophoresis $(ITP)$ technology. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also offers OGM-based diagnostic testing services.
For more information, visit www.bionano.com or www.bionanolaboratories.com.
Bionano's products are for research use only and not for use in diagnostic procedures.
Adjusted Financial Measures
Note: Effective with the fiscal period ended March 31, 2026, the Company renamed certain of its non-GAAP financial measures. Measures previously reported as "non-GAAP gross margin," "non-GAAP operating expense," and other titles using "non-GAAP" are now presented as "adjusted gross margin," "adjusted operating expense," and similar designations, respectively. These title changes are intended solely to simplify the Company's presentation and align with the nomenclature commonly used by the Company's peers. The definitions, methodologies, and components underlying each of these measures remain unchanged from prior periods, and no adjustments have been made to the items included in, or excluded from, the calculation of any such measure on account of the title changes. Prior-period amounts and descriptions have been recast to conform to the current-period presentation.
To supplement Bionano's financial results reported in accordance with U.S. generally accepted accounting principles (GAAP), the Company has provided adjusted gross margin and adjusted operating expense in this press release and the accompanying conference call, each of which is a adjusted financial measure. The most directly comparable GAAP measures to these adjusted financial measures are gross margin, cost of revenue, selling, general and administrative expense, research and development expense, intangible assets and other long-lived assets impairment, restructuring costs and operating expense, each as reported in accordance with GAAP. Adjusted gross margin excludes from gross margin reported in accordance with GAAP: stock-based compensation. Adjusted operating expense excludes from operating expense reported in accordance with GAAP: stock-based compensation, amortization of intangibles, and transaction-related expenses. In addition, our reconciliation table provided at the end of this release contains certain additional adjusted metrics, including adjusted cost of revenue, adjusted selling, general and administrative expense, adjusted research and development expense, adjusted intangible assets and other long-lived assets impairment and adjusted restructuring costs, each with adjustments as presented in the table. Stock-based compensation and certain other items excluded from our adjusted financial measures are recurring expenses for us and are expected to continue in future periods.
Bionano believes that each of these adjusted metrics is useful to investors and analysts as a supplement to its financial information prepared in accordance with GAAP for analyzing the Company's performance and identifying trends in its business. Bionano uses these adjusted metrics internally to facilitate period-to-period comparisons and analysis of its performance in order to understand, manage and evaluate its business, to make operating decisions, and for forecasting and budgeting. Accordingly, Bionano believes presentation of these adjusted measures allows for greater transparency with respect to key financial metrics it uses in assessing its own operating performance and making operating decisions.
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