BNGO - Bionano Genomics reverses four consecutive quarters of revenue slump

Bionano Genomics (BNGO) is up ~4.2% in the post-market after beating consensus estimates for Q4 2020 revenue.From a ~33.7% YoY decline in Q3 2020, the quarterly revenue has risen to $4.0M at ~43% YoY growth recording the first year-over-year top-line expansion since Q3 2019.2020 revenue has reached ~$8.5M with a decline of ~15.8% YoY compared to the contraction of ~15.6% YoY in 2019.Driven largely by salary expense, the quarterly operating expenses have risen ~38.2% YoY growth to $12.3M while for 2020, quarterly operating expenses have surged ~38.1% to ~$41.3M.The cash and equivalents stood at ~$33.4M in 2020 year-end compared to ~$17.3M at the end of 2019. In 2021, the company has raised another ~$335M thanks to two underwritten public offerings, the utilization of its $40 million ATM facility and the exercise of warrants.“As we begin 2021, Bionano’s balance sheet is in its strongest position ever,” commented Chris Stewart, CFO of Bionano.In

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Bionano Genomics reverses four consecutive quarters of revenue slump