10-Q · May 13, 2026
Bionano Genomics reported Q1 2026 revenue of $6.7 million, a 4% increase compared to $6.5 million in Q1 2025, though it recorded a larger net loss of $8.3 million, worsening from $3.1 million the previous year. The…
Earnings analysis · 10-Q
BNGO earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
Bionano delivered Q2 revenue of $8.171 million, beating the $7.476 million consensus estimate, while gross margin improved to 53.0% and consumables and flow-cell revenue grew 31% year over year. The company provided Q3…
Read full summary
Bionano delivered Q2 revenue of $8.171 million, beating the $7.476 million consensus estimate, while gross margin improved to 53.0% and consumables and flow-cell revenue grew 31% year over year. The company provided Q3 revenue guidance of $8.2 million-$8.6 million and full-year guidance of $31 million-$33 million, but EPS, operating margin, cash flow, and balance-sheet details are not present in the supplied 10-Q excerpt. Continued losses and the stated need for significant additional financing remain the principal risks, resulting in a neutral overall assessment.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Gross margin
- 53.0%
- Segment
- Consumables and flow cells: revenue increased 31% year over year; dollar revenue was not disclosed.
- Segment
- Other segment revenue: not disclosed.
What stood out
-
Revenue Beat and Year-Over-Year Growth
Q2 revenue was $8.171 million, exceeding the $7.476 million consensus estimate by $0.695 million and increasing from approximately $7 million in Q2 2025.
-
Gross Margin Expanded
Gross margin improved to 53.0% from 51.6% in Q2 2025, a 140-basis-point increase.
-
Consumables and Flow Cells Accelerate
Consumables and flow-cell revenue increased 31% year over year, indicating stronger recurring-product demand.
-
Adjusted Operating Expense Decline
Management reported that adjusted operating expenses declined, although the 10-Q excerpt does not provide the dollar amount or adjusted operating margin.
-
Quantitative Revenue Outlook Provided
The company issued Q3 2026 revenue guidance of $8.2 million-$8.6 million and full-year 2026 revenue guidance of $31 million-$33 million.
-
Controls Remained Effective
As of June 30, 2026, management concluded that disclosure controls were effective, and reported no material changes to internal control over financial reporting during the quarter.
What to watch
-
Continued Operating Losses
The company continues to operate at a loss; the related Q2 disclosure does not provide a reported EPS figure, while the consensus EPS estimate was negative $0.68. Continued losses could pressure liquidity and shareholder value.
-
Additional Financing Required
Management has stated that significant additional financing is required. The Q3 revenue outlook of $8.2 million-$8.6 million and full-year outlook of $31 million-$33 million may not be sufficient to eliminate financing dependence.
-
Execution Risk Against Revenue Outlook
The company must deliver full-year revenue of $31 million-$33 million after Q2 revenue of $8.171 million; failure to sustain growth in consumables and flow cells, which rose 31% year over year, could make the outlook difficult to achieve.
-
No New Quantified Risk Update
Item 1A of the 10-Q incorporates the risk factors from the December 31, 2025 Form 10-K and states that additional unknown risks may materially adversely affect the company; no new quantified risk-factor change is identified in the excerpt.
Management's outlook
The 10-Q excerpt does not provide explicit EPS guidance or a prior outlook comparison. The related August 10, 2026 earnings release disclosed Q3 2026 revenue guidance of $8.2 million-$8.6 million and full-year 2026 revenue guidance of $31 million-$33 million; the release did not provide a prior outlook for comparison.
Earlier filings 4
10-K · March 23, 2026
Bionano describes a strategy of driving adoption of its optical genome mapping (OGM) platform across research and translational/clinical markets by selling instruments, consumables, VIA software, the Ionic® Purification…
10-Q · August 14, 2025
Bionano reported Q2 revenue of $6,733,000 (down $1,038,000 or ~13.4% vs Q2 2024 $7,771,000) while GAAP net loss per share narrowed to $(1.99) from $(14.41) a year ago. Gross margin expanded to 51.6% and operating loss…
10-Q · November 8, 2023
Bionano reported Q3 revenue of $9.318M, up from $7.221M a year ago, driven by increases in instruments, consumables and service revenues. The quarter contains a non-recurring goodwill impairment of $77.28M that drove…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.