Bionano Genomics, Inc.

Revenue for Q2 2026 was $8.2 million, up 21% year over year, and above guidance of $7.5 million to $7.8 million. Adjusted gross margin was 53%, compared with 52% in Q2 2025; adjusted operating expense was $8.7 million, versus $8.8 million a year ago. Flow cell sales were 9.22 thousand units, up 27% year over year, and consumable revenue was $4.3 million, up 30%; software revenue was $1.4 million, down 16%; and other revenue was $2.5 million, up 38%. The company ended the quarter with $10.4 million in cash, cash equivalents and available-for-sale securities, including $500 thousand subject to certain restrictions, and said cash runway should extend at least into Q1 2027. For 2026, Bionano raised the low end of revenue guidance to $31 million to $33 million, representing 9% to 16% growth over 2025; Q3 2026 guidance was initiated at $8.2 million to $8.6 million, implying 11% to 16% growth over Q3 2025.

Albert A. Luderer framed the quarter as validation of Bionano’s shift toward profitable growth through existing routine users, especially clinical customers. He said consumable growth was primarily driven by increased clinical adoption and emphasized that most growth is coming from existing clients, with that pattern expected to continue. He also highlighted the return of Dr. Alex Hastie as chief scientific officer, the expansion of OGM reimbursement infrastructure, and the company’s strategy to improve margins and move toward adjusted EBITDA breakeven over time.

Mark Adamchak emphasized that the company beat its revenue guide, delivered 53% adjusted gross margin, and held adjusted operating expense nearly flat year over year at $8.7 million versus $8.8 million. He said cash totaled $10.4 million at quarter end and that runway should extend at least into Q1 2027, helped by the full retirement of outstanding senior secured convertible debt. He also noted that Q3 and full-year guidance were being raised on the low end, with revenue expected to grow throughout 2026 as execution continues.

Analysts pressed management on why full-year guidance’s top end was not raised, and Luderer said the company remains constrained by flow cell manufacturing capacity and backlog, so it is waiting until supply can reliably keep up with demand. On Q3, management said the outlook was conservative because several large orders were near the end of the quarter and at risk of slipping. Analysts also asked whether growth was being driven by new customers or existing users; Luderer said most growth is coming from existing clinical clients, and he expects that to remain the case. In another exchange, management said the new hematology CPT reimbursement pricing is starting to drive sales, while reimbursement for constitutional genetics has not made comparable progress.