aibioBionano reports first quarter 2026 revenue of $6.7 million
Tickers BNGO
Consumables revenue grew 20%, and the company guided to full-year 2026 revenue of $30 to $33 million.
Key facts
- Company
- Bionano Genomics, Inc. (NASDAQ: BNGO)
- News type
- Company Updates
- Primary source
- Bionano Genomics, Inc. 8-K (2026-05-13)
Bionano Genomics, Inc. (Nasdaq: BNGO) reported first quarter 2026 results on May 13, 2026. Total revenue was $6.7 million, an increase of 4% from $6.5 million in the first quarter of 2025, a modest rise for the quarter as a whole. Consumables revenue was $3.9 million, up 20%. The company also gave revenue guidance for the second quarter and the full year 2026.
Quarter results
Bionano sold 8,178 nanochannel array flow cells in the quarter, a 17% increase over the 6,994 flow cells sold in the first quarter of 2025. Gross margin was 49%, compared with 46% a year earlier, and adjusted gross margin was also 49%, compared with 46%. Operating expenses fell 2% to $11.1 million, still well above the quarter's $6.7 million of revenue, while adjusted operating expense rose 7% to $9.1 million. The release as filed gives no net loss, cash balance or cash used in operations for the quarter.
Al Luderer, Ph.D., chairman and interim chief executive officer, said: "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." The chairman is also interim chief executive, and the quotation is management's own view. He said the company was closing in on the expected retirement of its secured convertible debt, which he described as a meaningful balance sheet milestone. That retirement had not happened, and the release gives no amount outstanding, no terms and no date.
Reimbursement and publications
A new Category I CPT code, 81354, for the use of OGM in genome-wide analysis of constitutional genetic disorders took effect on the clinical lab fee schedule on January 1, 2026. The release says the code covers the OGM-Dx Postnatal Whole Genome SV and OGM-Dx Prenatal Whole Genome SV laboratory developed tests and is priced above comparable microarray codes. The release shows no revenue from the new code. The final 2026 Clinical Lab Fee Schedule also raised the payment determination for CPT code 81195, which covers OGM use in hematologic malignancy analysis, by 47%, from $1,263.53 to $1,853.22, effective January 1, 2026.
The company listed several publications. A Johns Hopkins and MD Anderson Cancer Center study in the American Journal of Hematology reported that OGM can significantly outperform traditional methods for detecting structural variations in multiple myeloma. A Sanford Burnham Prebys Medical Discovery Institute publication described using OGM to detect genomic alterations introduced by gene editing technologies. Bionano also reported 28 rare disease publications in the quarter, a 56% increase over the prior-year period, and twelve studies presented at ACMG 2026.
The company hosted the Bionano Symposium 2026, which drew more than 1,250 registrants. The release says leading institutions described plans to scale to thousands of samples per year; those are customers' plans, not orders.
Company and financial position
Bionano describes itself as a provider of genome analysis solutions. It also offers genome analysis software, extraction products and OGM-based diagnostic testing services through Lineagen, Inc. d/b/a Bionano Laboratories. The release states that Bionano's products are for research use only and not for use in diagnostic procedures.
The company's annual financial data for 2025 shows research and development expense of $11.4 million, down from $24.8 million in 2024. It reported a net loss of $26.4 million for 2025, compared with $112.0 million for 2024, and cash used in operations of $16.3 million, compared with $68.9 million. Year-end 2024 cash and cash equivalents were $9.2 million, and year-end 2024 short-term investments were $302,000. The sources give no later balance, so the company's cash against its continuing losses cannot be judged from them.
What comes next
Bionano expects second quarter 2026 revenue in the range of $7.5 to $7.8 million, above the first quarter's $6.7 million. For the full year 2026 it expects revenue of $30 to $33 million. The expected retirement of the secured convertible debt has no date in the release.