BNGO - Bionano Genomics posts sixth consecutive quarterly beat

Bionano Genomics (NASDAQ:BNGO) has added ~4.2% in the post-market after the company topped analyst forecasts for the six consecutive quarter, with its Q3 2021 revenue. “We had the strongest quarter in Bionano’s history with a record number of Saphyr shipments and installations, including adoptions at several notable sites, including leading hospitals, cytogenetics labs, and academic medical centers,” CEO Erik Holmlin remarked. Total revenue for the quarter rose ~112% YoY to reach $4.7M, indicating a slowdown from ~226% YoY growth in Q2 2021. Selling 3,969 nanochannel array flow cells, the company recorded the highest ever number of flow cells sold in any quarter.  The installed base of Saphyr systems reached 141 from 121 at the end of Q2 as the shipments during the quarter stood at 24 compared to 13 and 11 in Q2 2021 and Q3 2020, respectively. However, the net loss jumped ~92% YoY to $20.8M as the cost of revenue increased ~140%

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Bionano Genomics posts sixth consecutive quarterly beat