Bionano Genomics (BNGO)
Market Price (6/19/2026): $1.17 | Market Cap: $12.8 MilSector: Health Care | Industry: Health Care Equipment
Bionano Genomics (BNGO)
Market Price (6/19/2026): $1.17Market Cap: $12.8 MilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Personalized Diagnostics, Show more. | Weak multi-year price returns2Y Excs Rtn is -136%, 3Y Excs Rtn is -171% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -33 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -114% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -67%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -67% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -257% Key risksBNGO key risks include [1] a significant "going concern" risk stemming from a limited cash runway and substantial unprofitability, Show more. |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Personalized Diagnostics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -136%, 3Y Excs Rtn is -171% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -33 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -114% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -67%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -67% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -257% |
| Key risksBNGO key risks include [1] a significant "going concern" risk stemming from a limited cash runway and substantial unprofitability, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Bionano Genomics (BNGO) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Mixed Financial Performance and Outlook for Fiscal Q4 2025 and Q1 2026.
Bionano Genomics reported a mixed financial picture during the period. On March 23, 2026, the company announced its fiscal Q4 2025 results, with revenue of $8 million, a 3% decrease year-over-year, and a net loss of $8 million, despite a 9% reduction in non-GAAP operating expenses. While the revenue was at the high end of their guidance, the decline and continued net loss likely acted as a headwind. Subsequently, on May 13, 2026, the company reported fiscal Q1 2026 results, beating EPS estimates with -$0.76 per share against an estimated -$0.97 per share. Revenue for fiscal Q1 2026 increased 4% year-over-year to $6.7 million, reaching the high end of guidance, yet it slightly missed analyst estimates. The reaffirmed full-year 2026 revenue guidance of $30 million to $33 million, representing 5% to 16% growth over 2025, suggests continued, but not accelerating, growth, contributing to the stock stabilizing rather than significantly moving.
2. Incremental, Rather Than Transformative, Positive Catalysts.
While several positive developments occurred, they appeared to be incremental rather than transformative enough to significantly alter the stock's trajectory. The Bionano Symposium 2026 in late February highlighted advancements and growing adoption of Optical Genome Mapping (OGM). Additionally, in fiscal Q1 2026, Bionano secured significant reimbursement wins, including a 47% increase in payment determination for OGM in hematologic malignancies (from $1,263.53 to $1,853.22) and a new Category 1 CPT code for constitutional genetic disorders with a final payment determination of $1,263.53, effective January 1, 2026. The company also announced the full retirement of its outstanding senior secured convertible debentures in May 2026, a positive financial milestone. However, the market reaction to the Symposium news was noted as "modest or flat," suggesting these positives were either anticipated or insufficient to drive a substantial uptrend from its prior low of $1.06 on February 4, 2026.
Show more
Bionano Genomics (BNGO) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Mixed Financial Performance and Outlook for Fiscal Q4 2025 and Q1 2026.
Bionano Genomics reported a mixed financial picture during the period. On March 23, 2026, the company announced its fiscal Q4 2025 results, with revenue of $8 million, a 3% decrease year-over-year, and a net loss of $8 million, despite a 9% reduction in non-GAAP operating expenses. While the revenue was at the high end of their guidance, the decline and continued net loss likely acted as a headwind. Subsequently, on May 13, 2026, the company reported fiscal Q1 2026 results, beating EPS estimates with -$0.76 per share against an estimated -$0.97 per share. Revenue for fiscal Q1 2026 increased 4% year-over-year to $6.7 million, reaching the high end of guidance, yet it slightly missed analyst estimates. The reaffirmed full-year 2026 revenue guidance of $30 million to $33 million, representing 5% to 16% growth over 2025, suggests continued, but not accelerating, growth, contributing to the stock stabilizing rather than significantly moving.
2. Incremental, Rather Than Transformative, Positive Catalysts.
While several positive developments occurred, they appeared to be incremental rather than transformative enough to significantly alter the stock's trajectory. The Bionano Symposium 2026 in late February highlighted advancements and growing adoption of Optical Genome Mapping (OGM). Additionally, in fiscal Q1 2026, Bionano secured significant reimbursement wins, including a 47% increase in payment determination for OGM in hematologic malignancies (from $1,263.53 to $1,853.22) and a new Category 1 CPT code for constitutional genetic disorders with a final payment determination of $1,263.53, effective January 1, 2026. The company also announced the full retirement of its outstanding senior secured convertible debentures in May 2026, a positive financial milestone. However, the market reaction to the Symposium news was noted as "modest or flat," suggesting these positives were either anticipated or insufficient to drive a substantial uptrend from its prior low of $1.06 on February 4, 2026.
3. Ongoing Profitability Challenges and Prior Dilution Concerns.
Despite efforts to streamline operations and reduce non-GAAP operating expenses by 9% in fiscal Q4 2025, the company continues to incur net losses, reporting $8 million in fiscal Q4 2025. Although Bionano expects its cash runway to extend into 2027, management stated in fiscal Q1 2026 that the company does not anticipate reaching operating cash flow break-even by the end of 2026. Furthermore, shareholders experienced substantial dilution in the preceding year, with total shares outstanding growing by 229.7%. This combination of continued unprofitability and prior significant dilution likely sustained investor caution, preventing a strong upward movement in the stock price.
Show less
Stock Movement Drivers
Fundamental Drivers
The -0.9% change in BNGO stock from 2/28/2026 to 6/18/2026 was primarily driven by a -51.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.15 | 1.14 | -0.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 29 | 29 | 0.1% |
| P/S Multiple | 0.2 | 0.4 | 103.8% |
| Shares Outstanding (Mil) | 5 | 11 | -51.4% |
| Cumulative Contribution | -0.9% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| BNGO | -0.9% | |
| Market (SPY) | 9.2% | 29.9% |
| Sector (XLV) | -6.4% | 7.5% |
Fundamental Drivers
The -38.4% change in BNGO stock from 11/30/2025 to 6/18/2026 was primarily driven by a -51.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.85 | 1.14 | -38.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 29 | 29 | 0.1% |
| P/S Multiple | 0.3 | 0.4 | 26.7% |
| Shares Outstanding (Mil) | 5 | 11 | -51.4% |
| Cumulative Contribution | -38.4% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| BNGO | -38.4% | |
| Market (SPY) | 9.9% | 34.9% |
| Sector (XLV) | -4.4% | 9.8% |
Fundamental Drivers
The -68.9% change in BNGO stock from 5/31/2025 to 6/18/2026 was primarily driven by a -75.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.67 | 1.14 | -68.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 28 | 29 | 1.0% |
| P/S Multiple | 0.3 | 0.4 | 25.4% |
| Shares Outstanding (Mil) | 3 | 11 | -75.5% |
| Cumulative Contribution | -68.9% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| BNGO | -68.9% | |
| Market (SPY) | 28.1% | 21.0% |
| Sector (XLV) | 14.6% | 10.3% |
Fundamental Drivers
The -99.7% change in BNGO stock from 5/31/2023 to 6/18/2026 was primarily driven by a -95.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 415.14 | 1.14 | -99.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 29 | -2.7% |
| P/S Multiple | 7.1 | 0.4 | -93.8% |
| Shares Outstanding (Mil) | 1 | 11 | -95.4% |
| Cumulative Contribution | -99.7% |
Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| BNGO | -99.7% | |
| Market (SPY) | 85.7% | 23.8% |
| Sector (XLV) | 22.9% | 13.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BNGO Return | -3% | -51% | -87% | -85% | -91% | -24% | -100% |
| Peers Return | 13% | -41% | 7% | -32% | 6% | 12% | -43% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| BNGO Win Rate | 17% | 42% | 33% | 25% | 33% | 33% | |
| Peers Win Rate | 62% | 32% | 50% | 42% | 47% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BNGO Max Drawdown | -81% | -62% | -94% | -90% | -92% | -35% | |
| Peers Max Drawdown | -32% | -56% | -46% | -47% | -47% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PACB, ILMN, TXG, A, TMO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | BNGO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -62.1% | -24.5% |
| % Gain to Breakeven | 163.7% | 32.4% |
| Time to Breakeven | 92 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -75.5% | -33.7% |
| % Gain to Breakeven | 308.2% | 50.9% |
| Time to Breakeven | 271 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.6% | -19.2% |
| % Gain to Breakeven | 62.9% | 23.8% |
| Time to Breakeven | 731 days | 105 days |
In The Past
Bionano Genomics's stock fell -62.1% during the 2022 Inflation Shock & Fed Tightening. Such a loss loss requires a 163.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | BNGO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -62.1% | -24.5% |
| % Gain to Breakeven | 163.7% | 32.4% |
| Time to Breakeven | 92 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -75.5% | -33.7% |
| % Gain to Breakeven | 308.2% | 50.9% |
| Time to Breakeven | 271 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.6% | -19.2% |
| % Gain to Breakeven | 62.9% | 23.8% |
| Time to Breakeven | 731 days | 105 days |
In The Past
Bionano Genomics's stock fell -62.1% during the 2022 Inflation Shock & Fed Tightening. Such a loss loss requires a 163.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Bionano Genomics (BNGO)
Bionano Genomics (BNGO) specializes in providing comprehensive genome analysis solutions, primarily focused on understanding genetic variations and their functional impact. Its core offering is the Saphyr system, an optical genome mapping platform designed for high-resolution structural variation analysis. This complete solution encompasses the Saphyr instrument for single-molecule imaging, specialized consumable chips for DNA linearization, DNA preparation and labeling kits, and dedicated compute servers, enabling a seamless sample-to-result workflow for advanced genome analysis.
In addition to its Saphyr platform, Bionano Genomics develops NxClinical, a sophisticated software system that integrates the analysis and interpretation of genomic variants from both microarray and next-generation sequencing data, serving the critical needs of cytogenetics and molecular genetics laboratories. The company also extends its expertise through a range of specialized genetic testing and laboratory services. These services include tests like FirstStepDx PLUS for developmental disorders, Fragile X syndrome testing, NextStepDx PLUS for childhood development, EpiPanelDx PLUS for seizure-related conditions, and PGx tests for pharmacogenomics.
Bionano Genomics primarily serves research institutions and clinical diagnostic laboratories requiring advanced tools for analyzing complex genomic data and identifying structural variations. Its clinical testing services cater to patients and healthcare providers seeking definitive genetic diagnoses for developmental and neurological disorders, as well as insights into individualized drug responses. The company's offerings enable a deeper understanding of genetic disease mechanisms and support personalized medicine approaches.
AI Analysis | Feedback
1. The Illumina for discovering large structural changes in the genome.
2. A specialized genetic diagnostic lab, similar to Myriad Genetics, but focused on identifying big structural changes in a person's DNA.
AI Analysis | Feedback
- Saphyr System: An optical genome mapping solution for structural variation analysis, comprising the Saphyr instrument, Saphyr Chip, and DNA preparation/labeling kits.
- Bionano Compute Servers: Dedicated servers designed for processing and analyzing genomic data.
- NxClinical: Software providing comprehensive analysis and interpretation of genomic variants from microarray and next-generation sequencing data.
- Genetic Testing Services:
- FirstStepDx PLUS: A chromosomal microarray service for identifying genetic causes in individuals with autism spectrum disorder, developmental delay, and intellectual disability.
- Fragile X Syndrome (FXS) Testing: Laboratory services specifically for diagnosing Fragile X syndrome.
- NextStepDx PLUS: An exome sequencing test designed to identify genetic variants associated with disorders of childhood development.
- EpiPanelDx PLUS: A genetic testing panel for patients who have experienced seizures, infantile spasms, encephalopathy, or febrile seizures.
- PGx Test: A pharmacogenomics test that identifies over 60 alleles in 11 genes relevant for drug response.
AI Analysis | Feedback
Bionano Genomics (BNGO) primarily sells its products and services to other organizations and companies, rather than directly to individual consumers. Based on the provided company description, its major customers fall into the following categories:
- Clinical Diagnostic Laboratories and Hospitals: These entities acquire Bionano's Saphyr instruments, NxClinical software, and utilize its specialized laboratory testing services (such as FirstStepDx PLUS, NextStepDx PLUS, Fragile X syndrome testing, and EpiPanelDx PLUS) for patient diagnostics, genetic variant analysis, and identification of underlying genetic causes of various conditions.
- Academic and Research Institutions: Universities and other research organizations are customers for Bionano's Saphyr systems, Saphyr Chips, Bionano Prep Kits, DNA labeling kits, and compute servers. They leverage these solutions for advanced genome analysis, structural variation studies, and understanding genetic function in a research context.
- Pharmaceutical and Biotechnology Companies: These companies likely utilize Bionano's genome analysis technologies and software solutions for their research and development activities, including drug discovery, preclinical studies, and genomic profiling.
AI Analysis | Feedback
AI Analysis | Feedback
Erik Holmlin possesses over two decades of experience developing solutions and companies in the life sciences and healthcare industries. He previously served as CEO of GenVault Corporation and Chief Commercial Officer (CCO) at Exiqon A/S. Before that, he was vice president of marketing and development at Becton Dickinson. Dr. Holmlin led the formation and financing efforts of GeneOhm Sciences, Inc., and orchestrated its acquisition by Becton Dickinson in 2006. He also served as an entrepreneur in residence (EIR) at Domain Associates, LLC, a life-science venture capital firm. He holds a PhD in chemistry from Caltech and MBAs from UC Berkeley and Columbia University.
Mark Adamchak, CPA, Vice President, Accounting & Finance, Principal Accounting Officer
Mark Adamchak is an accounting leader with 20 years of experience in financial management and operational roles. He began his career as an auditor at KPMG. Prior to joining Bionano, he held increasingly senior positions at Science Applications International Corporation (SAIC), Intuit Inc., and Pathway Genomics, a private life sciences start-up. Mr. Adamchak joined Bionano as Controller in June 2018 and guided the accounting function through a successful IPO in October 2018. He is a licensed CPA and holds a bachelor's degree in accounting from James Madison University.
Mark Oldakowski, Chief Operating Officer
Mark Oldakowski has a 20-year track record in developing systems for the life sciences and medical device sectors. Before his tenure at Bionano Genomics, he led a global team at Brooks Life Science Systems, focusing on developing sample analyzers, high-throughput screening solutions, and biobank systems. His experience also includes roles at Affymetrix, where he launched an array platform widely used for genomics applications, and at Siemens Healthcare Diagnostics. Mr. Oldakowski holds a bachelor's degree in electrical engineering and a master's degree in computer and systems engineering from Rensselaer Polytechnic Institute.
Alka Chaubey, PhD, FACMG, Chief Medical Officer
Alka Chaubey is double board-certified in clinical cytogenetics/genomics and clinical molecular genetics/genomics by the American Board of Medical Genetics and Genomics (ABMGG). She previously served as the Head of Cytogenomics at PerkinElmer Genomics, where she was instrumental in developing and launching several innovative products, including the CNGnome test and a new FSHD assay utilizing Saphyr. Before PerkinElmer Genomics, Dr. Chaubey was the Director of the Cytogenomics Laboratory at the Greenwood Genetic Center, SC, USA. She also holds academic appointments at Augusta University.
Cory Kreeck, Global Head of People Operations
Cory Kreeck is a human resources executive with 25 years of experience leading global teams across various business functions. He brings a people-focused and entrepreneurial approach to human resources. Prior to joining Bionano, Mr. Kreeck led human resources efforts as Head of People at SpinLaunch and held multiple roles with increasing responsibility, including Group Vice President, People Operations, at Beachbody. He earned a Bachelor of Science in philosophy from Utah State University and a master's degree in organizational leadership from Biola University.
AI Analysis | Feedback
The key risks to Bionano Genomics (BNGO) largely revolve around its financial sustainability and its ability to compete and gain market acceptance for its specialized genome analysis solutions.
- Liquidity and Going Concern: Bionano Genomics has faced significant operating losses and negative cash flow, raising concerns about its ability to continue as a going concern without securing additional financing. The company has a limited cash runway and has frequently needed to raise capital, which can lead to dilution for existing shareholders. For instance, as of mid-2025, Bionano reportedly had only enough unrestricted cash to last through Q1 2026 without fresh funding. In Q3 2025, the company had $31.8 million in cash and investments, while still reporting a net loss of approximately $8.5 million.
- Intense Competition and Market Adoption: The market for genome analysis is highly competitive, with established and emerging players offering various technologies. Bionano's optical genome mapping (OGM) technology, while offering unique capabilities in detecting structural variants, faces stiff competition from high-tech next-generation sequencing (NGS) firms like Illumina, Pacific Biosciences, and Oxford Nanopore, which are also advancing in structural variant detection with long-read sequencing. There are concerns about the slow market uptake of Bionano's products and the utilization of its installed systems, which directly impacts the recurring revenue from consumables and software. Scaling up from its relatively modest installed base of OGM systems presents a significant challenge.
AI Analysis | Feedback
Advancements in long-read sequencing technologies, such as those offered by companies like Pacific Biosciences (PacBio) and Oxford Nanopore Technologies. These technologies are rapidly improving in accuracy, throughput, and cost-effectiveness, and are capable of detecting large structural variations, which is the primary application area for Bionano's Saphyr optical genome mapping system. As long-read sequencing becomes more comprehensive and affordable, it presents a direct alternative and potential replacement for, or reduction in the need for, optical genome mapping for structural variation analysis.
AI Analysis | Feedback
Bionano Genomics (symbol: BNGO) operates in several significant and growing addressable markets for its main products and services.
Saphyr System (Optical Genome Mapping and Structural Variation Analysis)
- The global optical genome mapping market size was valued at approximately USD 104.1 million in 2023 and is projected to reach USD 536.4 million by 2030, growing at a compound annual growth rate (CAGR) of 26.76% from 2024 to 2030.
- Another estimate places the global optical genome mapping market at USD 131.5 million in 2023, expected to grow to USD 883.50 million by 2032, with a CAGR of 24.10% from 2024 to 2032.
- Bionano Genomics, in its 2021 Form 10-K, estimated the addressable opportunity for its Saphyr systems in discovery research and cytogenetics segments to be approximately USD 2.1 billion for instruments. Additionally, the company projected an annual recurring revenue opportunity from Saphyr consumables in the range of approximately USD 0.6 billion to USD 1.4 billion. This suggested a total addressable market for their portion of the genome analysis market between USD 2.7 billion and USD 3.5 billion at that time.
- North America held the largest share of the global optical genome mapping market, accounting for 45.07% in 2023.
NxClinical (Genomic Variant Interpretation Software for Cytogenetics and Molecular Genetics)
- The global variant interpretation software market size was valued at USD 570.1 million in 2025 and is projected to reach USD 1,782.4 million by 2034, exhibiting a CAGR of 13.07% during the forecast period.
- The global molecular cytogenetics market, which NxClinical supports, was estimated at USD 2.40 billion in 2024 and is projected to reach USD 6.39 billion by 2033, growing at a CAGR of 11.7% from 2025 to 2033.
- North America held the largest share of the global molecular cytogenetics market, with 46.01% in 2024.
Genetic Testing and Laboratory Services (FirstStepDx PLUS, Fragile X syndrome (FXS) testing, NextStepDx PLUS, EpiPanelDx PLUS, PGx test)
- The global genetic testing market size was estimated at USD 11.71 billion in 2024 and is anticipated to reach USD 39.25 billion by 2030, with a CAGR of 22.5% from 2025 to 2030.
- North America dominated the global genetic testing market with a share of 45.4% in 2024.
- For Pharmacogenomics (PGx) testing, the global pharmacogenomics technology market size was estimated at USD 7.63 billion in 2024 and is projected to reach USD 12.38 billion by 2030, growing at a CAGR of 8.1% from 2025 to 2030. North America held the largest revenue share of 36.8% in the pharmacogenomics market in 2024.
- For services related to conditions like Autism Spectrum Disorder (ASD), the global autism diagnostics market was valued at approximately USD 27.38 billion in 2024 and is projected to reach USD 35.05 billion in 2029. North America accounted for 42.06% of the global autism spectrum disorder diagnostics market in 2024.
- For epilepsy-related genetic testing, the global hereditary genetic testing market (which includes epilepsy) was initially valued at USD 24.78 billion in 2023 and is projected to surge to USD 81.95 billion by 2033. The broader epilepsy diagnosis and treatment market was estimated at USD 3.83 billion in 2024 and is anticipated to reach USD 17.6 billion by 2035, globally.
AI Analysis | Feedback
Bionano Genomics (BNGO) is expected to drive future revenue growth over the next 2-3 years through several key strategies, primarily focusing on increasing the utilization of its optical genome mapping (OGM) solutions and expanding its market reach and clinical adoption:
- Increased Utilization of Consumables and Software: Bionano's strategic pivot emphasizes driving greater utilization of its existing installed base of OGM systems, such as Saphyr and the newer Stratys, by "routine users." This strategy aims to boost recurring revenue from high-margin nanochannel array flowcells and specialized software like VIA and NxClinical. Consumables and software constituted 72% of the product mix in Q3 2025, with sales increasing by 15% year-over-year in that quarter. The company sold 8,390 nanochannel array flowcells in Q3 2025, a 7% increase year-over-year, and 26,444 flowcells in FY 2023, marking a 72% increase over FY 2022.
- Expansion of OGM Systems and Software Solutions: The full commercial release and adoption of new, higher-throughput instruments like the Stratys system, expected in early 2024, are anticipated to significantly increase raw data generation rates, enabling labs to process substantially more samples. Additionally, the continued adoption and enhancements of software platforms such as VIA, which streamlines data visualization, interpretation, and reporting, are crucial for supporting increased sample throughput and user efficiency.
- Global Market Expansion and Adoption: Bionano continues to expand the global adoption of its Saphyr system, with growing utilization reported in new markets, including Japan and Africa. The increasing number of OGM publications, particularly in clinical research and cell and gene therapy, along with independent user groups advocating for OGM as an alternative to traditional cytogenetic methods, reflects broader acceptance and market penetration.
- Favorable Reimbursement and Inclusion in Clinical Guidelines: Building strong support for OGM reimbursement and its inclusion in clinical guidelines is a key strategic pillar for Bionano. The establishment of a Category I CPT code by the American Medical Association for OGM in constitutional genetic disorders and a substantial 47% increase in the Centers for Medicare & Medicaid Services (CMS) clinical lab fee schedule for OGM testing related to hematologic malignancies (CPT code 81195) for 2026 are expected to significantly enhance revenue potential and drive wider clinical adoption.
- Growth of the Installed Base of OGM Systems: Although the primary focus has shifted to maximizing utilization, the continued growth in the installed base of OGM systems contributes to the foundation for future consumables and software revenue. The installed base grew by 4% in Q3 2025 to 384 systems and by 36% in 2023 to 326 systems. Bionano expects to install 15 to 20 new OGM systems in full-year 2025, primarily at routine use sites, and has surpassed prior installation targets.
AI Analysis | Feedback
Share Issuance
- In January 2021, Bionano Genomics closed an underwritten public offering of approximately 38.3 million shares of common stock at $6.00 per share, resulting in gross proceeds of around $230 million.
- Also in January 2021, the company priced another underwritten public offering of approximately 29.0 million shares of its common stock at $3.05 per share, with expected gross proceeds of about $88.5 million.
- In September 2025, Bionano Genomics announced a public offering of 5 million shares with accompanying warrants, aiming to raise $10 million initially, with a potential for an additional $20 million if all warrants are fully exercised.
Capital Expenditures
- In the third quarter of 2021, Bionano Genomics invested $268K in capital expenditures, which funded long-term assets and infrastructure.
- In the 12 months prior to Q3 2025, capital expenditures were reported as $0.
- The company's "on-demand analysis" service allows customers to utilize the Saphyr System for DNA analysis without making a capital investment themselves, indicating that Bionano's capital expenditures are related to its own Saphyr systems and laboratory infrastructure.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Bionano Genomics Earnings Notes | 12/16/2025 | |
| How Low Can Bionano Genomics Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 80.91 |
| Mkt Cap | 14.6 |
| Rev LTM | 2,516 |
| Op Inc LTM | 414 |
| FCF LTM | 548 |
| FCF 3Y Avg | 385 |
| CFO LTM | 628 |
| CFO 3Y Avg | 472 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.6% |
| Rev Chg 3Y Avg | 1.2% |
| Rev Chg Q | 4.2% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 27.0% |
| Op Inc Chg 3Y Avg | 7.3% |
| Op Mgn LTM | 2.9% |
| Op Mgn 3Y Avg | -7.1% |
| QoQ Delta Op Mgn LTM | 1.9% |
| CFO/Rev LTM | 19.2% |
| CFO/Rev 3Y Avg | 13.9% |
| FCF/Rev LTM | 15.0% |
| FCF/Rev 3Y Avg | 10.5% |
Price Behavior
| Market Price | $1.14 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 09/21/2018 | |
| Distance from 52W High | -76.8% | |
| 50 Days | 200 Days | |
| DMA Price | $1.22 | $1.55 |
| DMA Trend | down | up |
| Distance from DMA | -6.3% | -26.6% |
| 3M | 1YR | |
| Volatility | 78.8% | 81.4% |
| Downside Capture | 207.17 | 232.46 |
| Upside Capture | 126.17 | 43.96 |
| Correlation (SPY) | 29.4% | 20.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.14 | 1.08 | 1.59 | 1.86 | 1.43 | 1.45 |
| Up Beta | 2.11 | 1.14 | 1.74 | 2.16 | 1.25 | 1.19 |
| Down Beta | 3.32 | 2.48 | 0.30 | 0.89 | 1.61 | 0.44 |
| Up Capture | -15% | 58% | 180% | 140% | 39% | 40% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 20 | 29 | 49 | 104 | 303 |
| Down Capture | -299% | 133% | 198% | 224% | 176% | 114% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 18 | 28 | 62 | 124 | 411 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BNGO | |
|---|---|---|---|---|
| BNGO | -64.0% | 81.4% | -0.87 | - |
| Sector ETF (XLV) | 14.0% | 15.0% | 0.66 | 8.8% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 20.4% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 9.8% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -6.9% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 7.3% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 18.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BNGO | |
|---|---|---|---|---|
| BNGO | -80.9% | 89.8% | -1.43 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 23.9% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 36.5% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 5.3% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 6.0% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 30.8% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 22.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BNGO | |
|---|---|---|---|---|
| BNGO | -55.9% | 191.0% | -0.06 | - |
| Sector ETF (XLV) | 9.4% | 16.6% | 0.46 | 9.3% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 12.7% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 4.5% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 3.1% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 10.6% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 7.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -4.8% | -0.8% | -7.2% |
| 3/23/2026 | -19.2% | -22.6% | -14.4% |
| 1/12/2026 | 0.6% | -5.1% | -25.9% |
| 11/13/2025 | 3.4% | 1.4% | 6.8% |
| 8/14/2025 | -5.3% | 28.7% | -13.7% |
| 5/14/2025 | 5.1% | -3.2% | -2.4% |
| 1/13/2025 | -7.9% | -19.2% | -59.8% |
| 11/13/2024 | -7.6% | -24.4% | -13.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 10 | 10 |
| # Negative | 17 | 20 | 20 |
| Median Positive | 3.4% | 24.4% | 14.2% |
| Median Negative | -6.7% | -11.6% | -14.0% |
| Max Positive | 22.4% | 43.8% | 133.0% |
| Max Negative | -19.2% | -25.3% | -59.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -4.8% | -0.8% | -7.2% |
| 3/23/2026 | -19.2% | -22.6% | -14.4% |
| 1/12/2026 | 0.6% | -5.1% | -25.9% |
| 11/13/2025 | 3.4% | 1.4% | 6.8% |
| 8/14/2025 | -5.3% | 28.7% | -13.7% |
| 5/14/2025 | 5.1% | -3.2% | -2.4% |
| 1/13/2025 | -7.9% | -19.2% | -59.8% |
| 11/13/2024 | -7.6% | -24.4% | -13.4% |
| 8/7/2024 | -6.7% | -2.5% | 2.7% |
| 5/8/2024 | 6.8% | 25.0% | -5.8% |
| 3/5/2024 | 1.7% | -10.9% | -17.1% |
| 1/8/2024 | 7.2% | -18.1% | -30.1% |
| 11/8/2023 | -2.2% | 0.7% | 8.1% |
| 8/9/2023 | -3.4% | -25.3% | -18.3% |
| 5/9/2023 | 4.9% | -11.4% | -1.6% |
| 3/9/2023 | -4.0% | -8.0% | -18.4% |
| 1/5/2023 | -0.7% | 23.8% | 20.4% |
| 11/3/2022 | 0.4% | 5.7% | -12.3% |
| 8/4/2022 | 2.6% | 43.8% | -1.7% |
| 5/5/2022 | -7.1% | -16.1% | -4.2% |
| 3/1/2022 | 0.5% | -18.1% | 25.0% |
| 1/12/2022 | 1.5% | -15.3% | -14.6% |
| 11/4/2021 | -6.9% | -14.0% | -43.7% |
| 8/4/2021 | 6.5% | 3.1% | 1.7% |
| 5/13/2021 | 22.4% | 27.4% | 77.3% |
| 3/23/2021 | -11.2% | -7.8% | -28.8% |
| 1/7/2021 | -6.0% | 39.0% | 133.0% |
| 11/12/2020 | -9.5% | -11.9% | -12.8% |
| 8/24/2020 | -4.0% | -3.1% | 0.0% |
| 6/18/2020 | -10.7% | -9.5% | 31.5% |
| SUMMARY STATS | |||
| # Positive | 13 | 10 | 10 |
| # Negative | 17 | 20 | 20 |
| Median Positive | 3.4% | 24.4% | 14.2% |
| Median Negative | -6.7% | -11.6% | -14.0% |
| Max Positive | 22.4% | 43.8% | 133.0% |
| Max Negative | -19.2% | -25.3% | -59.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/23/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/23/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/05/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/13/2021 | 10-Q |
| 12/31/2020 | 03/23/2021 | 10-K |
| 09/30/2020 | 11/13/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 06/18/2020 | 10-Q |
| 12/31/2019 | 03/10/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 7.50 Mil | 7.65 Mil | 7.80 Mil | 15.9% | Higher New | Actual: 6.60 Mil for Q1 2026 | |
| 2026 Revenue | 30.00 Mil | 31.50 Mil | 33.00 Mil | 0 | Affirmed | Guidance: 31.50 Mil for 2026 | |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.