Bionano Genomics (NASDAQ:BNGO) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Bionano Genomics (NASDAQ:BNGO) released its quarterly earnings results on Wednesday. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.12, reports. The company had revenue of $6.69 million for the quarter, compared to analyst estimates of $6.57 million. Bionano Genomics had a negative net margin of 92.59% and a negative return on equity of 56.22%.

Here are the key takeaways from Bionano Genomics’ conference call:

• Revenue came in at $6.7 million in Q1 2026, up 4% year over year and at the high end of guidance, while flow cell sales hit a record first-quarter level of 8,178 units.
• Consumable revenue rose 20% year over year to $3.9 million, reflecting stronger usage from existing customers and a shift toward more recurring revenue.
• The company highlighted major reimbursement wins for OGM, including a 47% increase in the payment determination for hematologic malignancies and a new category 1 CPT code for constitutional genetic disorders.
• Adjusted gross margin improved to 49% in Q1 from 46% a year ago, and management said the company expects its cash runway to extend into 2027.
• Management said Bionano does not expect to reach operating cash flow break-even by the end of 2026, though it aims to reduce burn further by Q4 2027.

Bionano Genomics Price Performance

BNGO traded down $0.01 during midday trading on Wednesday, hitting $1.25. 364,800 shares of the company traded hands, compared to its average volume of 285,543. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $13.86 million, a price-to-earnings ratio of -0.26 and a beta of 1.62. Bionano Genomics has a 52-week low of $1.06 and a 52-week high of $5.50. The business has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $1.40.

Analyst Ratings Changes

Several research firms recently commented on BNGO. Weiss Ratings upgraded shares of Bionano Genomics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. HC Wainwright dropped their price target on shares of Bionano Genomics from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bionano Genomics currently has an average rating of “Hold” and a consensus price target of $6.00.

Hedge Funds Weigh In On Bionano Genomics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carret Asset Management LLC increased its position in shares of Bionano Genomics by 76.4% during the fourth quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock valued at $67,000 after acquiring an additional 19,100 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Bionano Genomics during the fourth quarter valued at about $34,000. Renaissance Technologies LLC acquired a new stake in shares of Bionano Genomics during the fourth quarter valued at about $57,000. Geode Capital Management LLC increased its position in shares of Bionano Genomics by 148.8% during the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock valued at $102,000 after acquiring an additional 39,928 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Bionano Genomics during the fourth quarter valued at about $258,000. 11.35% of the stock is owned by hedge funds and other institutional investors.

Bionano Genomics Company Profile

Bionano Genomics, Inc (NASDAQ: BNGO) develops and commercializes high‐resolution genome analysis tools designed to map structural variants and large‐scale genomic rearrangements. At the core of its technology is the Saphyr® optical genome mapping system, which uses nanochannel arrays to linearize megabase‐length DNA molecules, proprietary fluorescent labeling reagents to highlight specific sequence motifs, and advanced image processing software to detect structural changes with high sensitivity.