Bionano Genomics, Inc. (BNGO) reported a net loss of $26.4 million for the year ended December 31, 2025, a significant improvement compared to the $112.0 million net loss in 2024. The company's revenue totaled $28.5 million, a slight decrease from the $30.8 million reported in the previous year. This revenue was primarily generated from product sales, which amounted to $26.7 million, while service and other revenue contributed $1.8 million. As of December 31, 2025, Bionano Genomics had an accumulated deficit of $719.6 million.
The company's financial performance showed notable changes in key areas. Cost of product revenue decreased substantially to $14.4 million from $28.4 million in the prior year, primarily due to the absence of inventory-related charges. Research and development expenses also decreased significantly to $11.4 million from $24.8 million, reflecting cost-saving initiatives. Selling, general, and administrative expenses were reduced to $35.2 million from $51.9 million, driven by headcount reductions and lower professional fees. The company's installed base of OGM systems grew to 387, a 4.3% increase from 371 in the previous year, while total flowcells sold slightly decreased to 30,171 from 30,307.
Bionano Genomics achieved several strategic milestones in 2025, including advancements in data analysis software and the establishment of a Category I CPT code for OGM in constitutional genetic disorders. The Centers for Medicare & Medicaid Services (CMS) also established payment determinations for OGM-based cytogenomic analysis. These developments are expected to facilitate reimbursement for OGM procedures and drive adoption in clinical settings. The company's commercial strategy focused on maximizing the utilization of its existing installed base of OGM systems, with less emphasis on new placements.
Looking ahead, Bionano Genomics faces challenges related to its ability to continue as a going concern, as highlighted by recurring losses and negative cash flows. The company anticipates needing additional capital to fund its operations and commercialization efforts. Management believes that existing cash, short-term investments, and anticipated proceeds from financing activities will be sufficient to fund operations into the first quarter of 2027. The company is actively exploring strategic alternatives to maximize stakeholder value, including potential debt financing, equity investments, or a sale of the company.
About Bionano Genomics, Inc.
Bionano Genomics, Inc. develops and markets optical genome mapping (OGM) systems, software, and nucleic acid purification solutions for comprehensive structural variation (SV) analysis in genomics. Its core products include the Saphyr® and Stratys™ OGM systems, VIA™ software for integrated genomic data interpretation, and the Ionic® Purification system. Serving researchers, clinicians, and biopharmaceutical companies, Bionano’s platform offers a scalable, cost-effective alternative to traditional cytogenetics and sequencing for genetic disease, cancer, and cell therapy applications.
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