BNGO

Image source: The Motley Fool. Monday, Aug. 10, 2026 at 4:30 p.m. ET Chairman and Interim Chief Executive Officer - Albert A. Luderer Vice President of Accounting and Principal Accounting Officer - Mark Adamchak Operator: Good day, and welcome to the Bionano Second Quarter 26 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Webb Campbell from Gilmartin Group. Please go ahead. Webb Campbell: Thank you, operator, and good afternoon, everyone. Welcome to the Bionano Second Quarter 26 Financial Results Conference Call. On the call today are Dr. Albert A. Luderer, Chairman and Interim CEO of Bionano and Mark Adamchak, Bionano's vice president of accounting and principal accounting officer. After market closed today, BioNano issued a press release announcing its financial results for the second quarter of 26. A copy of the release can be found on the Investor Relations page of the company's website. Certain statements made during this conference call may be forward looking statements. Actual results may differ materially from such statements due to several factors and risks. Some of which are identified in Bionano's press release and Bionano's report filed with the SEC. These forward looking statements are based upon information available to Bionano today, 08/10/2026, and the company assumes no obligation to update statements as circumstances change. During our call, we may reference certain non GAAP financial measures. We believe provide useful information for investors. Reconciliations of these measures to GAAP can be found on our press release and in our slide deck. An audio recording and webcast replay of today's conference call will also be available online on the Investor Relations page of the company website. With that, I will turn the call over to Albert. Albert A. Luderer: Well, thank you, Webb, and good afternoon, everyone. I am pleased to be here with you all today to share our second quarter 26 results. Bionano had a strong second quarter, and that strength can be directly attributed to increased adoption by our customers. Our results reflect a vote of confidence from our routine use customer community and the accelerating global adoption of optical physical genome mapping or OGM. Importantly, the growth of our consumable sales this quarter was primarily driven by increased clinical adoption. We expect that adoption together with increased utilization at existing and new clinical sites to remain the foundation of our growth. Now before I get into the quarter, I want to note an important addition to our team. We are pleased to welcome back Dr. Alex Hastie as our chief scientific officer. Alex was 1 of the original architects of our technology. He spent 14 years building Bionano's leadership in OGM, and he is widely regarded across our community as, and I quote, mister optical genome mapping. His return underscores our commitment to scientific leadership as we expand the commercial and clinical research applications of our platform. I also wanted to provide a very brief update on the ongoing search for my replacement. I am working in lockstep with the board to identify the best candidate to take Bionano into its next stage of growth. Until then, I remain solely committed to Bionano. Our customers, employees, and our shareholders. As a reminder, our focus remains on transforming pathology. The discipline that investigates the causes, developments, and effects of disease. Legacy analog workflows are tedious, slow, costly, and labor intensive. We are spearheading a shift to streamlined digital workflows based on technology and platform consolidation, automation, and the AI driven software behind our products and solutions. Today, I will walk through the progress we are making against our strategy to transform pathology. I want to briefly recap the framework that continues to guide our execution. Beginning in September 2024, we deliberately redirect our focus away from aggressive installed base expansion towards driving profitable growth with existing routine users. We are achieving this by being selective about new customer acquisition, prioritizing prospects most likely to become routine, high volume users. 4 strategic pillars define how we have and will continue to execute against that framework. First, to support and sustain our installed base of routine OGM and VIA software use. Second, to increase OGM utilization by routine users by supporting menu expansion and improving ease of use with VIA and Ionic adoption, Third, to build the support needed for OGM reimbursement and inclusion in medical society guidelines and recommendations. And fourth, to improve profitability and scalability through lower costs, higher volumes, and continuous improvement in product quality. Turning to our first and second pillars, which are focused on supporting our installed base and driving greater utilization of our products. Q2 26 flow cell sales were up 27% year over year at a record 9.22 thousand units. Demand continues to outpace our supply, although we are making progress working down our backlog. Removing flow cell sales tied to sales of new OGM systems in both periods, flow cells sold to existing customers were up 24% year over year in Q2. Simply put, our customers are running more samples, and much of that pull through reflects increasing clinical adoption of OGM. Breaking down our revenue segments, consumable revenue was $4.3 million in Q2 up 30% year over year. That growth came primarily from an increase in the number of flow cells sold consistent with the clinical adoption trend I just mentioned. The clearest evidence of our strategy in action. Software revenue was $1.4 million in Q2, down 16% year over year, reflecting timing delays in deployment from certain customers. Other revenue, which includes instruments and services, was $2.5 million in Q2 up 38% year over year. Led by higher instrument sales as new customers came onto the platform. This ongoing shift towards a higher proportion of recurring consumable lead revenue reflects a healthier more predictable business mix in our view and is directly aligned with our strategy. I would also note that the international markets continue to be a key growth driver in the quarter, with international revenue now representing the majority of our total revenue. We attribute this to broadening clinical adoption at leading European institutions. Regarding our second pillar, driving greater utilization of our product. We ended the quarter with 397 OGM systems installed worldwide. up 5% from 378 a year ago. At the same time, flow cells sold were up 207% year over year at 9.22 thousand units. A record for any quarter even as demand continues to outpace what we can currently supply. Together, these 2 data points capture exactly what we are focused on, meaningfully deepening flow cell utilization, within a robust footprint of OGM systems. Expanding on the second pillar, increasing OGM by supporting software adoption and menu expansion, we continue to receive very positive feedback on our software and compute upgrades, which enable customers to expand their menus and increase utilization. In some cases, doubling weekly cancer sample throughput. Without any hardware change. VIA's reach extends well beyond OGM, It remains the gold standard for CNV analysis on microarrays, and adoption among NGS and long read sequencing labs continues to grow. These non-OGM VIA users represent both a durable software revenue stream and a natural entry point into broader Bionano adoption. We also continue to develop and support our ionic system, which represents a fundamentally different approach to nucleic acid purification. Rather than relying on the bead and column based binding and washing steps that have defined the space for the last 2 decades. Ionic separates and concentrates DNA and RNA directly in solution. We are specifically expanding ionic's capabilities to interface directly with sample preparation for OGM and long read sequencing with the OGM expansion targeted for launch in Q4 of 26. In our view, it will be an important contributor to incremental consumables revenue and deeper customer relationships supporting the higher margin recurring revenue mix at the center of our long term growth strategy. Now regarding the third pillar, building support for OGM reimbursement, and inclusion in medical society guidelines. The 2 Category I CPT codes that took effect earlier this year covering OGM and hematologic malignancies at $1.85 thousand, and OGM in constitutional genetic disorders at $1.26 thousand now cover OGM's primary application areas, represent significant reimbursement infrastructure supporting routine adoption. What we are increasingly seeing this year is reimbursement infrastructure translating into real clinical adoption and utilization, which is, of course, the engine behind our consumable growth. This development continues to reduce barriers to adoption and pave the way for even more routine use of OGM across oncology, clinical genetic research communities globally. On the publications and evidence front, momentum continues in the second quarter, and the evidence base is increasingly clinical in nature. First, in May, we announced the largest OGM study of T-cell acute lymphoblastic leukemia or T-ALL to date, published in modern pathology and conducted by researchers at the University of Texas MD Anderson Cancer Center, Johns Hopkins University School of Medicine. Across 91 cases, OGM detected genomic abnormalities in 97.8% of cases, compared to just 55% by conventional karyotyping. Delivered clinically relevant genomic information beyond karyotyping in approximately 70% of cases. Of from a single workflow. T-ALL is an aggressive blood cancer where roughly half of cases remain unsolved by legacy methods, And this study demonstrates how well suited OGM is to that challenge. Second, we announced multiple Q2 26 publications describing the unique utility of OGM in reproductive health and prenatal genetic disorders with 13 studies analyzing 730 subjects published to date. An important expansion of OGM's evidence base into a large new application area. Third, at the 2026 European Society of Human Genetics Conference or ESHG studies featuring OGM increased 67% year over year with 17 countries. Up from 12 in 2025, a strong signal of the global breadth of the OGM research community. These studies join landmark multiple myeloma studies. From Johns Hopkins and MD Anderson published in the American Journal of Hematology. Which we highlighted last quarter and which demonstrated that OGM can significantly outperform traditional methods for detecting structural variations and chromosomal abnormalities. Taken together, we believe this expanding increasingly clinical body of evidence is a leading indicator of future adoption and utilization of OGM. Regarding our fourth pillar, we are pleased to report progress on our goal to reach profitability. From a high 20% gross margin profile in 2023 we have steadily driven that figure higher over the past several years. Reaching 53% in Q2 26, our highest quarterly gross margin to date. We have reduced operating expenses with the same disciplined philosophy. As revenue scales, and our mix continues to tilt towards higher margin consumables and software, we expect these trends to carry us towards adjusted EBITDA breakeven over time. A key milestone we are focused on as we build towards sustainable profitability. Additionally, I am happy to share that in the second quarter, we fully retired our outstanding senior secured convertible debt. Further simplifying our financial profile. I will now turn the call over to Mark Adamchak, our Principal Accounting Officer to review our Q2 26 financial highlights and discuss our expectations for Q3 and the full year 2026. Mark? Mark Adamchak: Thanks, Albert. Revenue for the second quarter of 26 was $8.2 million, up 21% compared to Q2 25, and above our guidance range of $7.5 million to $7.8 million. We sold 9.22 thousand nanochannel array flow cells up 27% compared to Q2 25. Despite ongoing supply constraints as consumable demand continued to outpace our current manufacturing capacity. Turning to profitability. Adjusted gross margin for the second quarter of 26 was 53%, compared to 52% in Q2 25 reflecting continued operational efficiencies under our strategy. Second quarter 26 adjusted operating expense was $8.7 million compared to $8.8 million in Q2 25. We ended the quarter with $10.4 million in cash, cash equivalent and available for sale securities, including a $500 thousand subject to certain restrictions. Based on factors described in our 10 Q, we expect our cash runway to extend at least into the first quarter of 2027. We also note that during the second quarter, we completed the full retirement of our outstanding senior secured convertible debt, which marked a meaningful balance sheet milestone that further simplifies our financial profile. Building on this progress, we expect revenue to grow throughout the year as we continue executing on our plan. For the full year 2026, we are raising the low end of our revenue guidance range to $31 million to $33 million representing growth of 9% to 16% over 2025. Q3 26, we are initiating guidance of $8.2 million to $8.6 million, representing 11% to 16% growth over Q3 25. We are very excited about the work and the journey ahead of us at Bionano, And with that, I will turn the call back to the operator for Q&A. Operator: Certainly. As a reminder, to ask a question. And our first question will be coming from the line of Yi Chen of H. C. Wainwright and Company. Your line is open, Yi. Yi Chen: Hi. Thank you for taking my questions. You mentioned that you are raising the lower end of the revenue guidance for 2026. Could you tell us why the higher end is not raised as well? Albert A. Luderer: Thank you for the question. Yeah. We are very much constrained in terms of our flow cell manufacturing capacity. And as we mentioned in the in the call earlier, we are in back order. And hope to remedy that by the end or at least the middle of to the end of the fourth quarter coming up. So we are reluctant to raise the top line until we know for certain that our manufacturing can keep up with demand. Yi Chen: I see. And your guidance for the third quarter is essentially could be essentially flat compared to the second quarter or maybe a small sequential growth, while your second quarter demonstrated a pretty robust growth sequential growth over the first quarter. So is there a seasonality involved? Or is it also this issue related to manufacturing? Albert A. Luderer: it is actually caused by several very large orders that are very close to the end of the third quarter, and we thought they were at risk. So we were conservative in our outlook towards whether we would close them this quarter or next quarter. Yi Chen: Okay. Got it. And last thing, could you give maybe give us some additional color regarding whether the current growth observed in the second quarter is primarily driven by increased utilization within the existing clients or new clients that were acquired during the quarter? Albert A. Luderer: it is the majority of our growth is coming from existing clients. it is very strong demand with especially our clinical users. So that is where the majority of the growth is coming from. Yi Chen: And do you expect the same for the coming quarters? That the majority of growth will be coming from existing clients? Albert A. Luderer: Yes. I believe that will be the case. We have-- there is tremendous demand, and we are looking forward to meeting that demand. Okay. Got it. Thank you. Operator: Thank you, Yi. And our next question will be coming from the line of Jason McCarthy of Maxim Group. Your line is open, Jason. Analyst: Hey, guys. This is Michael on the line. Thank you so much for taking my questions today. Albert A. Luderer: Hey, Michael. So I guess just to start things off, I wanted to see if any of the growth you have seen in unit and consumables, unit placed shipments, or in terms of revenue, has been driven by the new pricing on the CPT code in hematology. Or if we are still expecting that to take some more time to materialize. it is a great question. And it is-- right now, we think it is starting to drive the sales and only time will tell if that is factual or not. But it is we believe it is true here in the States. We also see that trend occurring in Europe where different regions are starting to gain coverage. So it is a big deal. Alright. And then in terms of the constitutional genetics application, are there any efforts ongoing to get reimbursement to reach a similar level to heme Because I believe that is still the same level that heme used to be at before you got the improved CPT code pricing. Yes. that is correct. There was some effort, I believe, to alter that, but I do not think there is been any progress with regards to that. Alright. And then just 1 last 1, a little bit of a just financial related question. It does seem like looking at the sequential growth, the number of consumables sold during the quarter seems to have quite significantly outpaced the change in consumables revenue. At least on a sequential basis between the first quarter and second quarter. So could you just help provide a little bit of context on what is driving that? Mark, you want to take a shot at that? Mark Adamchak: Yeah. I mean, you have to remember that we have a substantial portion of our customers that are on a reagent rental. And so you know, it is not a 1-to-1 ratio of flow cells sold to revenue dollars in. A portion of that gets deferred and amortized over the life of that lease. So that is primarily the difference between the growth. Alright. Analyst: Thank you very much. I appreciate the additional color, and congrats on the great progress you guys are making. Operator: Thank you for your questions. This concludes today's conference call. Thank you for your participation. You may now disconnect. Thank you. Before you buy stock in Bionano Genomics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bionano Genomics wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $421,511!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,381,960!* That performance is why people listen. With a track record of beating the S&P 500 by nearly 5x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 17, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Bionano Genomics (BNGO) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Revenue: $8.2 million in Q2 2026, up 21% year-over-year and above the guidance range of $7.5 million to $7.8 million. Consumable Revenue: $4.3 million in Q2 2026, up 30% year-over-year, driven primarily by increased flow cell sales. Software Revenue: $1.4 million in Q2 2026, down 16% year-over-year due to timing delays in customer deployments. Other Revenue (Instruments and Services): $2.5 million in Q2 2026, up 38% year-over-year, led by higher instrument sales. Flow Cells Sold: Record 9,219 units in Q2 2026, up 27% year-over-year; flow cells sold to existing customers were up 24% year-over-year. Adjusted Gross Margin: 53% in Q2 2026, up from 52% in Q2 2025, marking the highest quarterly gross margin to date. Adjusted Operating Expense: $8.7 million in Q2 2026, compared to $8.8 million in Q2 2025. Cash Position: $10.4 million in cash, cash equivalents, and available-for-sale securities at quarter end, with cash runway expected to extend into at least Q1 2027. Installed Base: 397 OGM systems installed worldwide, up 5% from 378 a year ago. Debt: Fully retired outstanding senior secured convertible debt during Q2 2026. Full-Year 2026 Revenue Guidance: Raised to $31 million to $33 million, representing growth of 9% to 16% over 2025. Q3 2026 Revenue Guidance: Initiated at $8.2 million to $8.6 million, representing 11% to 16% growth over Q3 2025. Warning! GuruFocus has detected 3 Warning Signs with BNGO. Is BNGO fairly valued? Test your thesis with our free DCF calculator. Release Date: August 10, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record Q2 2026 flow cell sales of 9,219 units, up 27% year-over-year, driven by increased clinical adoption. Consumable revenue grew 30% year-over-year to $4.3 million, reflecting higher recurring revenue mix. Adjusted gross margin reached a record 53% in Q2 2026, up from 52% in Q2 2025, due to operational efficiencies. Fully retired senior secured convertible debt in Q2 2026, simplifying the balance sheet. Raised the low end of full-year 2026 revenue guidance to $31-$33 million, reflecting confidence in growth. Flow cell supply constraints persist, with demand outpacing manufacturing capacity, limiting near-term revenue growth. Software revenue declined 16% year-over-year to $1.4 million due to customer deployment delays. Q3 2026 revenue guidance of $8.2-$8.6 million implies potential flat to modest sequential growth, with risk of large order timing. Cash position remains low at $10.4 million, with runway only into Q1 2027, raising liquidity concerns. Reimbursement for constitutional genetic disorders remains at a lower level than hematologic malignancies, with no progress on improvement. Q: You mentioned that you are raising the lower end of the revenue guidance for 2026. Could you tell us why the higher end is not raised as well?A: Albert Luderer, Chairman and Interim CEO: We are very much constrained in terms of our flow cell manufacturing capacity. We are in back order and hope to remedy that by the middle to the end of the fourth quarter. We are reluctant to raise the top line until we know for certain that our manufacturing can keep up with demand. Q: Your guidance for the third quarter is essentially flat compared to the second quarter or maybe a small sequential growth, while your second quarter demonstrated robust sequential growth over the first quarter. Is there a seasonality involved or is it also this issue related to manufacturing?A: Albert Luderer, Chairman and Interim CEO: It's actually caused by several very large orders that are very close to the end of the third quarter and we thought they were at risk. So we were conservative in our outlook towards whether we would close them this quarter or next quarter. Q: Could you give us some additional color regarding whether the current growth observed in the second quarter is primarily driven by increased utilization within the existing clients or new clients that acquired during the quarter?A: Albert Luderer, Chairman and Interim CEO: The majority of our growth is coming from existing clients. It's very strong demand with especially our clinical users. So that's where the majority of the growth is coming from. Q: Do you expect the same for the coming quarters, that the majority of growth will be coming from existing clients?A: Albert Luderer, Chairman and Interim CEO: Yes, I believe that will be the case. We have tremendous demand and we're looking forward to meeting that demand. Q: I wanted to see if any of the growth you've seen in consumable unit shipments or in terms of revenue has been driven by the new pricing on the CPT code in hematology, or if we're still expecting that to take some more time to materialize?A: Albert Luderer, Chairman and Interim CEO: That's a great question. Right now, we think it is starting to drive the sales. Only time will tell if that's factual or not. But we believe it's true here in the States. We also see that trend occurring in Europe where different regions are starting to gain coverage. So, it's a big deal. Q: In terms of the constitutional genetics application, are there any efforts ongoing to get reimbursement to reach a similar level to heme? Because I believe that's still the same level that heme used to be at before you got the improved CPT code pricing.A: Albert Luderer, Chairman and Interim CEO: Yes, that's correct. There was some effort, I believe, to alter that, but I don't think there's been any progress with regards to that. Q: It does seem like looking at the sequential growth, the number of consumables sold during the quarter seems to have quite significantly outpaced the change in consumables revenue, at least on a sequential basis between the first quarter and second quarter. So could you just help provide a little bit of context on what's driving that change?A: Mark Adamchak, VP of Accounting and Principal Accounting Officer: You have to remember that we have a substantial portion of our customers that are on a reagent rental. So, it's not a 1:1 ratio of flow cells sold to revenue dollars in. A portion of that gets deferred and amortized over the life of that lease. So that's primarily the difference between the growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance growth was primarily driven by increased clinical adoption and higher utilization among existing routine-use customers rather than aggressive footprint expansion. The company is deliberately prioritizing high-volume prospects most likely to become routine users to drive profitable growth and improve business predictability. Consumable revenue grew 30% year-over-year, reflecting a strategic shift toward a higher proportion of recurring revenue and a healthier business mix. International markets, particularly leading European institutions, have become a key growth driver and now represent the majority of total revenue. Operational efficiency initiatives resulted in a record 53% adjusted gross margin, supported by a disciplined reduction in operating expenses. Management is spearheading a transition from legacy analog pathology workflows to streamlined digital workflows using AI-driven software and platform consolidation. The return of Dr. Alex Hastie as Chief Scientific Officer is intended to reinforce scientific leadership as the company expands clinical research applications. Full-year 2026 revenue guidance was raised at the low end to $31 million–$33 million, assuming continued execution of the routine-user strategy. Management expects to remedy current flow cell manufacturing backorders and supply constraints by the middle to end of the fourth quarter of 2026. Q3 2026 guidance of $8.2 million–$8.6 million incorporates a conservative outlook due to the timing of several large orders near the end of the quarter. The launch of an Ionic system expansion for OGM sample preparation is targeted for Q4 2026 to drive incremental consumables revenue. The company expects the current mix of higher-margin consumables and software to lead toward adjusted EBITDA breakeven over time. The company fully retired its outstanding senior secured convertible debt during Q2, simplifying the balance sheet and financial profile. Demand for flow cells continues to outpace manufacturing capacity, resulting in a backlog that management is actively working to reduce. Cash runway is expected to extend at least into the first quarter of 2027 based on current projections and restricted cash holdings. Software revenue declined 16% year-over-year, which management attributed to timing delays in deployments for certain customers. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management is reluctant to raise the top end of guidance until they are certain manufacturing capacity can keep pace with demand. The company is currently in a backorder situation for flow cells due to manufacturing constraints. Management believes the new CPT codes for hematologic malignancies are starting to drive sales in the U.S. A similar trend is observed in Europe as different regions begin to gain coverage, reducing barriers to routine clinical use. The difference is primarily due to a substantial portion of customers being on reagent rental agreements. Under these agreements, revenue is not a 1-to-1 ratio with units sold as a portion is deferred and amortized over the life of the lease. The majority of current growth is coming from increased utilization within existing clinical clients. Management expects this trend to continue in coming quarters due to tremendous demand from the existing base.

Conference call today, August 10, 2026, at 4:30 PM ET SAN DIEGO, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today reported financial results for the second quarter ended June 30, 2026. "Our second quarter results reflect a strong vote of confidence from our routine use customer community and the accelerating global adoption of optical genome mapping (OGM)," commented Al Luderer, Ph.D., chairman and interim chief executive officer of Bionano. "The evidence base supporting OGM continued to expand across a broad range of research areas, reflected by the year-over-year increase in OGM studies presented at major genetics conferences. All the while, growth in our consumable sales has been primarily driven by increased clinical adoption; this adoption, along with increased utilization at existing and new clinical sites, will continue to be the foundation of our growth. We were also pleased to welcome back Dr. Alex Hastie, one of the original architects of our technology, as Chief Scientific Officer. Equally important, we completed the full retirement of our outstanding secured convertible debentures during the quarter, a significant milestone that simplifies our financial profile and provides greater flexibility as we continue to grow adoption of OGM." Q2 2026 Financial Results For the three-month period ended June 30, 2026, as compared to the same period of 2025: Reported total revenue of $8.2 million, representing an increase of 21% from $6.7 million in the second quarter of 2025. Sold 9,219 nanochannel array flow cells in the second quarter of 2026, representing an increase of 27% over the 7,233 flow cells sold in the second quarter of 2025. Generated gross margin of 53%, as compared to 52% for the second quarter of 2025. Operating expenses increased by 2% to $11.5 million while adjusted operating expense1 decreased by 2% to $8.7 million. Recent Business Highlights: 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. Announced the largest OGM study of T-cell acute lymphoblastic leukemia to date, published in Modern Pathology, showing OGM detected genomic abnormalities in 97.8% of cases compared to 55% by conventional karyotyping. Announced the full retirement of all outstanding Senior Secured Convertible Debentures, eliminating outstanding secured debt obligations and releasing all liens on the Company's assets. Announced multiple 2026 publications describing the unique utility of OGM in reproductive health and prenatal genetic disorders, with 13 studies analyzing 730 subjects published to date. Announced a 67% year-over-year increase in studies featuring OGM at the 2026 European Society of Human Genetics (ESHG) conference, with authorship spanning 17 countries, up from 12 in 2025. Announced the appointment of Alex Hastie, Ph.D., a foundational figure in Bionano's scientific evolution, as Chief Scientific Officer. 2026 Outlook We anticipate the following results for Q3 and the full year 2026: Q3 2026 revenue guidance in the range of $8.2 to $8.6 million. Full year 2026 revenue guidance in the range of $31 to $33 million. Webcast Details 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 beginning 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 an 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, 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, transaction-related expenses, and executive transition costs. 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, and adjusted research and development expense, 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. These adjusted financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures; should be read in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP; have no standardized meaning prescribed by GAAP; and are not prepared under any comprehensive set of accounting rules or principles. In addition, from time to time in the future, there may be other items that the Company may exclude for purposes of its adjusted financial measures; and the Company may in the future cease to exclude items that it has historically excluded for purposes of its adjusted financial measures. Likewise, the Company may determine to modify the nature of its adjustments to arrive at its adjusted financial measures. Because of the non-standardized definitions of adjusted financial measures, each adjusted financial measure as used by Bionano in this press release and the accompanying reconciliation table has limits in its usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies. For a reconciliation of adjusted gross margin to gross margin reported in accordance with GAAP and adjusted operating expense to operating expense reported in accordance with GAAP, please refer to the financial tables accompanying this press release. Forward-Looking Statements of Bionano Genomics This press release and the accompanying conference call contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our expectations regarding market adoption of our products; our commercial prospects and future financial and operating results; and our ability to meet our stated goals and commercial opportunities, including our full year and third quarter 2026 guidance. Each of these forward-looking statements involves risks and uncertainties. Accordingly, investors and prospective investors are cautioned not to place undue reliance on these forward-looking statements as they involve inherent risk and uncertainty (both general and specific) and should note that they are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include, but are not limited to: our ability to improve our margins, extend our cash runway and reach a potential pathway to profitability; our ability to continue as a going concern as disclosed in our filings with the SEC, which requires us to manage costs and obtain significant additional financing to fund our strategic plans and commercialization efforts; our ability to execute on our strategy and achieve our objectives; the impact and utility of our cost savings initiative and our recent financing; our ability to continue to drive OGM (as defined above) adoption by potential customers for routine use in genomic analysis; the impact, or lack thereof, of Category I CPT codes to accelerate or increase the adoption of OGM; continued research, presentations and publications involving OGM and its utility compared to traditional cytogenetics and our technologies; the impact of our Stratys™ system and VIA™ software to increase throughput and simplify analysis of OGM data; our ability to drive adoption of OGM and our technology solutions; our ability to further deploy new products and applications for our technology platforms; our expectations and beliefs regarding future growth of the business and the markets in which we operate; our ability to consummate any strategic alternatives including the risk that if we fail to obtain additional financing we may seek relief under applicable insolvency laws; the size and growth potential of the markets for our products, and our ability to serve those markets; the rate and degree of market acceptance of our products; our ability to manage the growth of our business and integrate acquired businesses; our ability to expand our commercial organization to address effectively existing and new markets that we intend to target; the impact from future regulatory, judicial, and legislative changes or developments in the U.S. and foreign countries; our ability to compete effectively in a competitive industry; the introduction of competitive technologies or improvements in existing technologies and the success of any such technologies; the performance of our third-party contract sales organizations, suppliers and manufacturers; our ability to attract and retain key scientific or management personnel; the accuracy of our estimates regarding expenses, future revenues, reimbursement rates, capital requirements and needs for additional financing; the impact of adverse geopolitical and macroeconomic developments, such as recent and future bank failures, ongoing international conflicts, and related sanctions, regional or global pandemics, inflation, tariffs, increased cost of goods, supply chain issues, and global financial market conditions; on our business and operations, as well as the business or operations of our suppliers, customers, manufacturers, research partners and other third parties with whom we conduct business and our expectations with respect to the duration of such impacts and the resulting effects on our business; our ability to realize the anticipated benefits and synergies of our prior and any future acquisitions or other strategic transactions; our ability to attract collaborators and strategic partnerships; and the risks and uncertainties associated with our business and financial condition in general, including the risks and uncertainties described in our filings with the Securities and Exchange Commission (“SEC”), including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2025, any subsequently filed Quarterly Reports on Form 10-Q and in other filings subsequently made by us with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise, except as may be required by law. CONTACT Company ContactAl Luderer, Chairman & Interim CEOBionano Genomics, Inc.+1 (781) [email protected] Investor Relations:Webb CampbellGilmartin Group+1 (415) [email protected] Bionano Genomics, Inc.Condensed Consolidated Balance Sheet (Unaudited) Bionano Genomics, Inc.Condensed Consolidated Statement of Operations (Unaudited) Bionano Genomics, Inc.Reconciliation of GAAP to Adjusted Financial Measures (Unaudited)

Conference call today, May 13, 2026, at 4:30 PM ET 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™ Postnatal Whole Genome SV and OGM-Dx™ 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. These adjusted financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures; should be read in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP; have no standardized meaning prescribed by GAAP; and are not prepared under any comprehensive set of accounting rules or principles. In addition, from time to time in the future, there may be other items that the Company may exclude for purposes of its adjusted financial measures; and the Company may in the future cease to exclude items that it has historically excluded for purposes of its adjusted financial measures. Likewise, the Company may determine to modify the nature of its adjustments to arrive at its adjusted financial measures. Because of the non-standardized definitions of adjusted financial measures, each adjusted financial measure as used by Bionano in this press release and the accompanying reconciliation table has limits in its usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies. For a reconciliation of adjusted gross margin to gross margin reported in accordance with GAAP and adjusted operating expense to operating expense reported in accordance with GAAP, please refer to the financial tables accompanying this press release. Forward-Looking Statements of Bionano Genomics This press release and the accompanying conference call contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our expectations regarding market adoption of our products; our commercial prospects and future financial and operating results; and our ability to meet our stated goals and commercial opportunities, including our full year and first quarter 2026 guidance. Each of these forward-looking statements involves risks and uncertainties. Accordingly, investors and prospective investors are cautioned not to place undue reliance on these forward-looking statements as they involve inherent risk and uncertainty (both general and specific) and should note that they are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include, but are not limited to: our ability to improve our margins, extend our cash runway and reach a potential pathway to profitability; our ability to retire our debt at maturity; our ability to continue as a going concern as disclosed in our filings with the SEC which requires us to manage costs and obtain significant additional financing to fund our strategic plans and commercialization efforts; our ability to execute on our strategy and achieve our objectives; the impact and utility of our cost savings initiative and our recent financing; our ability to continue to drive OGM (as defined above) adoption by potential customers for routine use in genomic analysis; the impact, or lack thereof, of Category I CPT codes to accelerate or increase the adoption of OGM; continued research, presentations and publications involving OGM and its utility compared to traditional cytogenetics and our technologies; the impact of our Stratys™ system and VIA™ software to increase throughput and simplify analysis of OGM data; our ability to drive adoption of OGM and our technology solutions; our ability to further deploy new products and applications for our technology platforms; our expectations and beliefs regarding future growth of the business and the markets in which we operate; our ability to consummate any strategic alternatives including the risk that if we fail to obtain additional financing we may seek relief under applicable insolvency laws; the size and growth potential of the markets for our products, and our ability to serve those markets; the rate and degree of market acceptance of our products; our ability to manage the growth of our business and integrate acquired businesses; our ability to expand our commercial organization to address effectively existing and new markets that we intend to target; the impact from future regulatory, judicial, and legislative changes or developments in the U.S. and foreign countries; our ability to compete effectively in a competitive industry; the introduction of competitive technologies or improvements in existing technologies and the success of any such technologies; the performance of our third-party contract sales organizations, suppliers and manufacturers; our ability to attract and retain key scientific or management personnel; the accuracy of our estimates regarding expenses, future revenues, reimbursement rates, capital requirements and needs for additional financing; the impact of adverse geopolitical and macroeconomic developments, such as recent and future bank failures, ongoing international conflicts, and related sanctions, regional or global pandemics, inflation, tariffs, increased cost of goods, supply chain issues, and global financial market conditions on our business and operations, as well as the business or operations of our suppliers, customers, manufacturers, research partners and other third parties with whom we conduct business and our expectations with respect to the duration of such impacts and the resulting effects on our business; our ability to realize the anticipated benefits and synergies of our prior and any future acquisitions or other strategic transactions; our ability to attract collaborators and strategic partnerships; and the risks and uncertainties associated with our business and financial condition in general, including the risks and uncertainties described in our filings with the Securities and Exchange Commission (“SEC”), including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2025, any subsequently filed Quarterly Reports on Form 10-Q and in other filings subsequently made by us with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise, except as may be required by law. CONTACT Investor Relations: Webb Campbell Gilmartin Group +1 (415) 520-5817 [email protected]

Bionano Genomics (NASDAQ:BNGO) reported first-quarter financial results on Wednesday. The transcript from the company's first-quarter earnings call has been provided below. Benzinga APIs provide real-time access to earnings call transcripts and financial data. Visit https://www.benzinga.com/apis/ to learn more. View the webcast at https://edge.media-server.com/mmc/p/6tmtcpga/ Bionano Genomics reported Q1 2026 revenue of $6.7 million, a 4% increase year-over-year, with flow cell sales up 17%. The company emphasized strategic pillars focusing on supporting its installed base, increasing OGM utilization, securing reimbursement, and improving profitability. Significant milestones include a 47% increase in reimbursement rates for OGM and the establishment of a new CPT code for genetic disorders. Gross margin improved to 49% in Q1 2026, and the company aims to reach cash flow breakeven by Q4 2027. Management highlighted strong demand, reduction of debt, and ongoing research publications as key growth drivers. OPERATOR Good day and welcome to the BIONANO first quarter 2026 earnings conference call. Today's conference is being recorded. At this time I would like to turn the conference over to Webb Campbell from Gilmartin Group. Please go ahead. Webb Campbell (Moderator) Thank you, Liz and good afternoon everyone. Welcome to the BioNano First Quarter 2026 Financial Results Conference Call. On the call today is Dr. Al Luderer, Chairman and Interim CEO of BioNano, and Mark Adamchak, Bionano's Vice President of Accounting and Principal Accounting Officer. After market close today, Bionano issued a press release announcing its financial Results for the first quarter 2026. A copy of the release can be found on the investor relations page of the Company's website. Certain statements made during this conference call may be forward looking statements. Actual results may differ materially from such statements due to several factors and risks, some of which are identified in Bionano's press release and Bionano's reports filed with the SEC. These forward looking statements are based on information available to Bionano today, May 13, 2026, and the Company assumes no obligation to update statements as circumstances change. During our call, we may refer to certain adjusted financial measures which we believe provide useful information for investors. Reconciliations of these measures to GAAP can be found in our press release and slide deck. An audio recording and webcast replay for today's conference call will also be available online on the investor relations page of the Company's website. With that, I will turn the call over to Alex. Alex Thank you Webb and good afternoon everyone. I'm pleased to be here with you all today. Before I share an update on our first quarter, I want to address the recent leadership transition. As announced last week, I'm stepping in as interim CEO and will maintain my role as Chairman. I'd like to thank Eric for his commitment to Bionano Genomics over the last decade, bringing this company and our technology from concept to broad validation. I look forward to working with him as he maintains an advisory role to ensure seamless transition. Now, as I step into the CEO role, my highest priority is to sustain business continuity to ensure no disruption to our valued customers and shareholders. Simultaneously, I'll be working closely with my fellow board members to identify the best candidate to lead this organization over the long term. Transforming Bionano Genomics from a company focused on R&D to one focused on commercialization and broad product adoption over time, our focus remains on transforming pathology, the discipline that investigates the causes, developments and effects of disease from tedious, slow, costly and labor intensive analog workflows in the past towards streamlined workflows of digital future designed by technology and platform consolidation, automation and powerful AI driven software that make up our products and solutions. Today I will take some time to touch on the progress we're making against our strategy to transform pathology. I want to briefly recap the framework that continues to guide our execution. Beginning in September 2024, we deliberately redirected our focus away from aggressive installed base expansion toward driving profitable growth with existing routine users while being selective about new customer acquisition, placing an emphasis on adding new routine users. Four strategic pillars define how we have and how we will continue to execute against that framework. First, to support and sustain our installed base of routine Optical Genome Mapping (OGM) and Via software users. Second, to increase Optical Genome Mapping (OGM) utilization by routine users by supporting menu expansion and improving ease of use with Via and Ionic adoption. Third, to build the support needed for Optical Genome Mapping (OGM) reimbursement and inclusion in Medical Society guidelines and recommendations and fourth, to improve profitability, scalability, et cetera through lower costs, higher volumes and continuous improvement in product quality. Now turning to our first and second pillars which are focused on supporting our installed base and driving greater utilization of our products. Q1 2026 flow cells sold were up 17% year over year at 8,178 units, which is a record unit sales volume for any Q1 that we have reported removing flow cells tied to sales of new Optical Genome Mapping (OGM) systems in both periods. Flow cells sold to existing customers were up 21% year over year in Q1. Recall that we entered the first quarter with some constraints on flow cell production, but the supply is starting to catch up. We saw improvement in the first quarter and expect to see continued improvement in flow cell production for the remainder of 2026. Now breaking down our revenue segments, consumable revenue was up to 3.9 million in Q1, up 20% year over year. Our strong growth in consumables revenue is evidence of our strategy in action as we prioritize routine users and focus on Optical Genome Mapping (OGM). Software revenue was 1.2 million in quarter one, down 40% year over year as we had a very large software sale in the prior year that is expected to supply the user for their needs in both 2025 and 2026. Other revenue was 1.6 million in quarter one, up 36% year over year. We believe this ongoing shift towards higher proportion of recurring revenues reflects a healthier, more predictable business mix and is directly aligned with our strategy. Now regarding our second pillar, increasing Optical Genome Mapping (OGM) utilization by supporting software adoption and menu expansion, we continue to receive very positive feedback on our recent software and COMPUTE upgrades. These upgrades focus on enabling customers to expand their menus and increase utilization, in some cases doubling weekly cancer sample throughput without any hardware change. Via's reach extends well beyond ogm. It remains the gold standard for CNV analysis on micro arrays and adoption amongst ngs and long read sequencing labs continues to grow. These non Optical Genome Mapping (OGM) Via users represent both a durable software revenue stream and a natural entry point into broader bionanoadoption. We also continued development in support of our IONIC system which delivers high purity DNA and RNA for Optical Genome Mapping (OGM) and NGS workflow at scale. Now, regarding our third pillar, building support for Optical Genome Mapping (OGM) reimbursement and inclusion in Medical Society guidelines, I'm pleased to highlight two significant reimbursement milestones that both took effect in the first quarter. First, the 2026 clinical lab fee schedule reflected a 47% increase in in the payment determination for the Category 1 CPT code for Optical Genome Mapping (OGM) and hematologic malignancies. The reconsidered payment determination is now $1,853.22, up from $1,263.53. This increase reflects meaningful advocacy work by our customers and the community, and it substantially improves the reimbursement economics for labs running Optical Genome Mapping (OGM) for cancer research. Second, a new Category 1 CPT code for Optical Genome Mapping (OGM) in constitutional genetic disorders established by the American Medical association in 2025, received a final payment determination of $1,263.53, also effective January 1, 2026. This code covers Optical Genome Mapping (OGM) using evaluation of constitutional chromosome abnormalities, interrogation of structural and copy number variants. Together, these two codes now cover Optical Genome Mapping (OGM)'s primary application areas and represent significant reimbursement infrastructure supporting routine adoption. The pricing of the constitutional code at 1,600, $2,663.53 higher than what micro raised costs are priced at is consistent with the needs of laboratories seeking to move forward from their legacy methods. We believe these CPT codes reduce barriers to adoption and may pave the way for even more routine use of Optical Genome Mapping (OGM) across oncology and clinical genetic research communities globally. On the publications front, momentum continues. We announced that 28 publications describing the utility of Optical Genome Mapping (OGM) for analysis of rare diseases were released in Q1 2026, representing an approximately 56% increase over Q1 2025. The total numbers of samples analyzed in those studies 78 represents a 225% increase compared to 2025. There were 1,991 genomes published in the first quarter of 2026, representing a 158% year over year increase over Q1 2025. These publications span a broad range of conditions, including neurodevelopmental, neuromuscular, neurodegenerative, immunological and malformation syndromes, and comes from institutions across Europe, Asia, South America, and the United States. I want to take a few minutes to highlight a few recent publications and presentations that really stand out. First, in April 2026, a landmark study led by scientists from Johns Hopkins University School of Medicine and the University of Texas, Maryland Anderson Cancer center was published in the American Journal of Hematology demonstrating that Optical Genome Mapping (OGM) can significantly outperform traditional analytic methods for detection of structural variation and chromosomal abnormalities in multiple myeloma. This was the largest published multiple myeloma cohort to date with 211 samples. Optical Genome Mapping (OGM) identified relevant chromosomal abnormalities in 92% of patients previously found to be normal by karyotyping and successfully resolved 82% of multiple myeloma samples that had previously failed karyotype. Altogether, Optical Genome Mapping (OGM) also detected additional pathogenic structural abnormalities not identified by karyotyping or fish in approximately 30% of subjects. The authors recommended revising laboratory workflows to include Optical Genome Mapping (OGM) and ngs, which we believe has the potential to drive growth in adoption and utilization of Optical Genome Mapping (OGM) in this large and very challenging indication. Second, a publication from the Stanford Burnham Presbyter Medical Discovery Institute described the application of Optical Genome Mapping (OGM) to detect genomic alterations introduced by different gene editing technologies, including transposons, lentivirus transduction and CRISPR Cas9 mediated locus insertion. This study demonstrated that Optical Genome Mapping (OGM) can be a valuable quality control tool for cell line genome integrity in pre clinical and clinical development of gene editing therapies, reinforcing Optical Genome Mapping (OGM)'s growing role in the pharmaceutical industry and cell and gene therapy development. Third, at the 2026American College of Medical Genetics and Genomics or ACMG annual meeting held this past March in Baltimore, Bionano Genomics had 12 studies presented, representing a twofold increase over 2025 and spanning cancer, genomics, immunologic malignancies, constitutional genetic disorders, rare diseases, and reproductive disorders. And finally, last but not least, Bionano Genomics Symposium 2026, held in late February, brought together over 1,250 registrants from 73 countries and featured 35 outside speakers giving 33 presentations and 50 posters across four days. A defining theme was Optical Genome Mapping (OGM) at Scale. Dr. Alexander Hershen from Radbound University Medical center described plans to reach 3,000 samples per year through full automation, while Dr. Adam Smith of LabCorp demonstrated that a scaled stratus workflow can process 10,000 cancer samples per year at less than 1/8 the capital investment of a comparable long read sequencing platform. Symposium 2026 reinforced that Optical Genome Mapping (OGM) is moving from early adoption into scale. Now regarding our fourth pillar, the numbers speak for themselves on the profitability front. From a high 20% gross margin profile in 2023, we have systematically driven that figure higher over the past several years, reaching 49% in Q1 2026. Operating expenses have followed a similar trajectory of disciplined reduction as revenue scales and our mix continues to tilt towards higher margin consumables and software. We expect these trends to eventually carry us towards cash flow breakeven I'll now turn the call over to Mark Adamcheck, our Principal Accounting Officer, to review our Q1 2026 financial highlights and provide and discuss our expectations for Q2 and the full year 2026 mark. Mark Adamcheck Thanks Al Revenue for the first quarter of 2026 was $6.7 million, up 4% compared to Q1 2025 and at the high end of our guidance range of 6.5 to 6.7 million. As we noted on our Q4 2025 call, we expected Q1 to be the lightest quarter of the year consistent with the typical seasonality of our business. We sold 8178 nano channel array flow cells up 17% compared to Q1 2025. This growth was achieved despite an ongoing supply constraint which we continue to see ease. Turning to profitability, adjusted gross margin for the first quarter of 2026 was 49% compared to 46% in Q1 2025 and reflecting continued operational efficiencies under our strategy, adjusted operating expense for the first quarter was 9.1 million compared to 8.5 million in Q1 2025. We ended the quarter with 24.7 million in cash, cash equivalents and available for sale securities, including 10.3 million subject to certain restrictions. Based on factors described in our 10k, we expect our cash Runway to extend into 2027. We also expect to fully retire our outstanding senior secured convertible debt this month, which marks a meaningful balance sheet milestone that further simplifies our financial profile. Building on this progress, we expect revenue to grow throughout the year as we continue executing on our plan for the full year 2026. We are reaffirming revenue guidance of 30 to 33 million representing growth of 5 to 16% over 2025 for Q2 2026, we are initiating guidance of 7.5 to 7.8 million, representing 12 to 16% growth over Q2 2025. We are very excited about the work and the journey ahead of us at Bionano. With that, I will turn the call back over to Al for closing remarks. Al Luderer Thanks, Mark. So Q1 was strong, very strong start to the year and I'm encouraged by the momentum we're carrying into the rest of 2026. We have a clear strategy, a focused team, and the technology the market is increasingly embracing. I look forward to updating you on our continued progress. And with that, let's open it up for questions. OPERATOR Thank you all for joining. We will now open the line for questions. If you'd like to ask a question at this time, please press Star 11 on your telephone and wait for your name to be announced. To withdraw your question, please press star 11 again. Our first question comes from Yi Chen with HC Wainwright. Yi Chen (Equity Analyst) Thank you for taking my questions. Could you provide some comment regarding if you expect the company to achieve operating cash flow break even either late this year or sometime in 2027? Thank you. Hi, thanks for the question. Let me ask Mark to comment on that. Mark? Mark Adamcheck Yeah. Thanks. No, we do not expect to reach cash flow breakeven by the end of 2026. And you know, we are taking the necessary steps that we can to reduce that burn as much as possible by Q4 of 2027, but we're not providing guidance as to whether or not we can achieve that. Al Luderer Okay, and do you expect any additional catalysts that could potentially occur either later this year or in 2027 that could help the top line growth or improve gross margin or further reduce operating expenses? Well, I think there's several catalysts this year. The first catalyst, which actually was really planted in the first quarter, which is the CPT code and the strong reimbursement. So I think we are starting to see some impact in our dedicated installed base. It's a little hard to measure right now, but I think that's part of the reason we are experiencing very, very strong demand. So we're pleased about that. The second one is certainly, I think from my point of view, the elimination of our debt is a very strong step forward in terms of controlling our destiny and our future. Now that doesn't mean we wouldn't take other debt for certain applications if it was called for and timely. So I think that's a big deal. And I think those are the two major things that we have pushing and we have several publications that are coming out that will be highly complementary and also expansive on what's been shown by Hopkins and D. Anderson. So we're getting great adoption out there. So I think we're going to try to make it very public about how people feel about this. And the neatest thing about this, and I've been a director of this company since 2011, so I have lived through this. And in the early days it was our clinical medical executives who are identifying what could be done and helping people to identify how to do it. Today it's all of our users that are out there and they are setting the standard and the path so they are now leading and that's a huge transition transformation for this company. Got it. Thank you. Thank you. OPERATOR As a reminder, if you'd like to ask a question at this time, please press star 11 on your Touchstone phone. That will conclude today's question and answer session. This concludes today's conference call. Thank you for participating. Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company's SEC filings and official press releases. Corporate participants' and analysts' statements reflect their views as of the date of this call and are subject to change without notice. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga: BIONANO GENOMICS (BNGO): Free Stock Analysis Report This article Transcript: Bionano Genomics Q1 2026 Earnings Conference Call originally appeared on Benzinga.com ﾩ 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is transitioning the company's core focus from research and development toward commercialization and broad product adoption. The strategic framework has shifted away from aggressive installed base expansion to prioritizing profitable growth with existing routine users. Consumable revenue growth of 20% year-over-year validates the strategy of focusing on high-utilization routine Optical Genome Mapping (OGM) users. Flow cell production constraints experienced in early Q1 are easing, with supply starting to catch up to record unit sales volume. The company is leveraging its VIA software as a 'natural entry point' for labs using NGS and microarrays to eventually adopt the full OGM platform. Profitability improvements are being driven by a disciplined reduction in operating expenses and a revenue mix shift toward higher-margin consumables and software. Full-year 2026 revenue guidance of $30 million to $33 million assumes continued growth in recurring revenue and easing supply chain constraints. Management expects flow cell production to continue improving throughout the remainder of 2026 to meet strong demand. The company aims to reduce cash burn significantly by Q4 2027, though it has not provided a specific date for reaching cash flow breakeven. The retirement of all outstanding senior secured convertible debt in May 2026 is expected to simplify the financial profile and increase strategic flexibility. Future growth is expected to be driven by the implementation of new CPT reimbursement codes and upcoming clinical publications that expand OGM's evidence base. A 47% increase in the payment determination for the Category 1 CPT code for OGM in hematologic malignancies took effect January 1, 2026. A new Category 1 CPT code for constitutional genetic disorders was established with a final payment determination of $1,263.53. Dr. Al Luderer stepped in as Interim CEO following the departure of long-time CEO Erik Holmlin, who remains in an advisory role. Software revenue declined 40% year-over-year due to a large non-recurring sale in the prior year that satisfied a customer's multi-year needs. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explicitly stated they do not expect to reach cash flow breakeven by the end of 2026. The company is focused on reducing burn as much as possible by Q4 2027 but declined to provide specific guidance on the exact breakeven timing. The new CPT codes and improved reimbursement economics are cited as primary drivers for the current strong demand in the installed base. Management highlighted a fundamental shift where external users and institutions are now leading the standard-setting and publication efforts, rather than Bionano's internal team. The elimination of debt is viewed as a critical catalyst for 'controlling our destiny' and improving the company's future financial trajectory.

This article first appeared on GuruFocus. Release Date: May 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bionano Genomics Inc (NASDAQ:BNGO) reported a 17% year-over-year increase in flow cell sales, reaching a record volume for any Q1. Consumable revenue increased by 20% year-over-year, indicating strong growth and alignment with the company's strategy. The company achieved a 49% gross margin in Q1 2026, up from 46% in Q1 2025, reflecting improved operational efficiencies. Significant reimbursement milestones were achieved with a 47% increase in payment determination for OGM in hematologic malignancies and a new CPT code for constitutional genetic disorders. Publications describing the utility of OGM for rare diseases increased by 56% year-over-year, with a 158% increase in genomes published, showcasing growing academic and clinical interest. Software revenue decreased by 40% year-over-year due to a large prior year sale that fulfilled customer needs for 2025 and 2026. The company does not expect to reach cash flow break-even by the end of 2026, indicating ongoing financial challenges. Despite revenue growth, the company faced supply constraints in flow cell production, although improvements are expected. Operating expenses increased to $9.1 million in Q1 2026 from $8.5 million in Q1 2025, indicating higher costs. The company is undergoing a leadership transition, which may pose risks to business continuity and strategic execution. Warning! GuruFocus has detected 3 Warning Signs with BNGO. Is BNGO fairly valued? Test your thesis with our free DCF calculator. Q: Could you provide some comments regarding if you expect the company to achieve operating cash flow break-even either late this year or sometime in 2027? A: No, we do not expect to reach cash flow break-even by the end of 2026. We are taking necessary steps to reduce the burn as much as possible by Q4 of 2027, but we're not providing guidance as to whether or not we can achieve that. - Mark Adamchak, Vice President of Accounting and Principal Accounting Officer. Q: Do you expect any additional catalysts that could potentially occur either later this year or in 2027 that could help to improve gross margin or further reduce operating expenses? A: Several catalysts are expected this year. The first is the CPT code and strong reimbursement, which is starting to impact our dedicated install base. The second is the elimination of our debt, which is a strong step forward in controlling our future. Additionally, several upcoming publications will be highly complimentary and expansive on existing research. - Dr. Al Luterer, Chairman and Interim CEO. Q: How is the company addressing the supply constraints on flow cell production? A: We entered the first quarter with some constraints on flow cell production, but the supply is starting to catch up. We saw improvement in the first quarter and expect continued improvement in flow cell production for the remainder of 2026. - Dr. Al Luterer, Chairman and Interim CEO. Q: Can you elaborate on the impact of the new CPT codes on the company's operations? A: The 2026 clinical lab fee schedule reflected a 47% increase in the payment determination for the Category 1 CPT code for OGM in hematologic malignancies. This increase improves reimbursement economics for labs running OGM for cancer research. Additionally, a new Category 1 CPT code for OGM in constitutional genetic disorders received a final payment determination, supporting routine adoption. - Dr. Al Luterer, Chairman and Interim CEO. Q: What are the expectations for revenue growth in 2026? A: For the full year 2026, we are reaffirming revenue guidance of $30 million to $33 million, representing growth of 5% to 16% over 2025. For Q2 2026, we are initiating guidance of $7.5 million to $7.8 million, representing 12% to 16% growth over Q2 2025. - Mark Adamchak, Vice President of Accounting and Principal Accounting Officer. For the complete transcript of the earnings call, please refer to the full earnings call transcript.