BNGO - Bionano Genomics reports Q1 results

Bionano Genomics press release (NASDAQ:BNGO): Q1 Net loss of $29.52M. Revenue of $5.7M (+79.8% Y/Y) beats by $0.02M. Expanded the installed base of Saphyr systems to 176 as of the end of Q1 2022, up from 164 as of the end of Q4 2021 and an increase of 64% over Q1 2021. CEO comment:  “We also expect that our planned integration of OGM into the NxClinical software, which we expect to be completed later this year, should provide additional opportunities for OGM adoption. Finally, development of our next high throughput imaging system for OGM is progressing nicely and remains on track for pre-commercial use in the field by year end. We believe all of these achieved and planned advancements, together with validation of OGM utility shown in recent publications, lay the foundation for further penetration of our target markets and revenue growth."

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Bionano Genomics reports Q1 results