BNGO - Bionano Genomics sees Q3 net loss widen 53% but beats on the top line
- Bionano Genomics ( NASDAQ: BNGO ) saw its Q3 2022 net loss widen 53% to ~$31.8M compared to the prior-year period.
- However, revenue of ~$7.2M was a ~55% year-over-year increase and a beat . Consensus was $6.79M.
- Bionano saw a significant surge in operating expenses in the quarter. R&D costs skyrocketed ~96% to ~$12.7M, while SG&A expenses increased ~38% to ~$21.2M.
- The company ended the quarter with $28.2M in cash and cash equivalent, a ~15% increase from Dec. 31, 2021.
- Check out why Seekibng Alpha contributor Harrier Capital sees Bionano ( BNGO ) as a sell.
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Bionano Genomics sees Q3 net loss widen 53% but beats on the top line