Earnings call transcript: Bionano Genomics tops Q2 revenue view, shares edge up

Bionano Genomics reported that its second-quarter revenue grew 21% year over year, reaching $8.2 million, surpassing analysts' expectations of $7.48 million. The company's consumable revenue increased by 30% to $4.3 million, which was the primary growth driver. Adjusted gross margin reached 53%, marking the highest quarterly level for the company.

During the quarter, Bionano retired its senior secured convertible debt. Management maintained the top end of its full-year revenue guidance at $31 million to $33 million due to manufacturing capacity limits. The company's shift toward recurring revenue from consumables and software continued, with consumables and software revenue contributing to overall growth.

Bionano now has 397 OGM systems globally, a 5% increase from the previous year, and nanochannel array flow cell sales rose 27%. The company expects manufacturing constraints to ease by mid-to-late Q4 2026, which could lead to a potential increase in full-year revenue guidance.