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$BNGO Q4 '24 Earnings Results & Recap
Bionano Genomics reported Q4 2024 EPS of -$5.90 meeting estimates, while revenue of $8.2M exceeded estimates of $6M. The company projects flattish revenue growth for 2025, in the range of $29 million to $32 million, primarily driven by a core group of routine users.Since Post
$BNGO Q4 & FY2024 Results:
🚨 Only 3 OGM systems installed in Q4 2024
→ That’s an 88% collapse vs. 25 in Q4 2023
→ Conveniently not mentioned anywhere in the report 🤫
📉 Full-year installs down 48%
→ 86 in 2023 → only 45 in 2024
→ Yet Erik Holmlin spins this as a “14% increase in installed base”… classic misdirection tactic by using a cumulative tally
đź’Ł 2025 outlook? Just 15 to 20 installs!
→ That’s a 81% to 75% decline from the 3-year average of ~80 installs/year
→ For a full year?! Pathetic.
đź’° FY Revenue down 15%
→ $36.1M (2023) → $30.8M (2024)
→ Product revenue flat, instrument sales down nearly $2M despite the Stratys launch a year ago
📉 GAAP Gross Margin collapsed to 1%
→ From 26% in 2023
→ They’re giving product away just to prop up volume
⚠️ Cash nearly gone
→ $20.9M reported, but only $9.5M is unrestricted
đź§Ş Flowcell usage per system is declining
→ More systems out there, but fewer tests run per system = fading demandAdvertisement|Remove ads.