BNGO - Bionano jumps as Q1 revenue beat expectations with over a two-fold rise

Bionano Genomics (BNGO) is trading ~8.8% higher in the post market after the company managed to beat the consensus with its Q1 2021 results thanks to a ~178.9% YoY rise in revenue which reached ~$3.2M.After four straight quarters of contractions, the company only returned to growth with its Q4 2020 financials recording a ~43.0% YoY growth.Q1 2021 Gross margin has improved to ~33% from 25% in the previous year. R&D remained flat at ~$2.7M while S G & A expenses rose ~29.3% YoY to ~$9.5M.Despite a ~14.4% YoY rise in loss from operations to $11.2M, the net loss has dipped ~5.4% YoY to ~$9.9M driven by a gain on debt extinguishment of $1.8M.Ther cash and equivalents have improved to ~$362.0M recording ~841.7% growth from 2020 year-end.The company highlighted its milestones for 2021 including a target to reach an installed base of 150 systems to achieve a 50% YoY increase by year end.A

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Bionano jumps as Q1 revenue beat expectations with over a two-fold rise