Bionano Genomics, Inc. reported its financial results for the second quarter of 2026, revealing a total revenue of $8.2 million, a 21% increase from $6.7 million in the same period last year. The growth was primarily driven by a 22% rise in product revenue, which reached $7.7 million, up from $6.3 million in the prior year. The company also noted a net loss of $7.4 million for the quarter, a slight improvement compared to a net loss of $6.9 million in Q2 2025. For the first half of 2026, total revenue was $14.9 million, reflecting a 13% increase from $13.2 million in the first half of 2025, with a net loss of $15.7 million compared to $10.0 million in the previous year.
The company experienced notable changes in its operational metrics, with an installed base of optical genome mapping (OGM) systems growing to 397 units, a 5% increase from 378 units a year earlier. Bionano sold 9,219 flowcells in the second quarter, marking a 27% increase from 7,233 flowcells sold in the same quarter of 2025. However, software revenue decreased by 16% to $1.4 million, attributed to a decline in the number of VIA software licenses sold. The company’s total cash and cash equivalents stood at $3.7 million as of June 30, 2026, down from $4.5 million at the end of 2025.
Bionano's operational expenses remained stable, with total operating expenses for the second quarter at $11.5 million, slightly up from $11.3 million in the same period last year. Research and development expenses increased by 2% to $3.0 million, while selling, general, and administrative expenses rose by 2% to $8.5 million. The company has been actively managing its costs, including a reduction in professional and consulting fees, which contributed to a more streamlined operation.
Looking ahead, Bionano expressed concerns regarding its liquidity, stating that it expects to continue incurring significant operating losses and negative cash flows. The company has indicated substantial doubt about its ability to continue as a going concern within the next twelve months unless it can secure additional funding. Management is exploring various financing options, including public or private equity and debt financings, to support its operations and growth initiatives. The company’s future capital requirements will focus on scaling operations, increasing manufacturing capacity, and enhancing research and development efforts.
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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