Analyst Summary:
Bionano Genomics, Inc. reported financial results for Q4 and full year 2022, with revenue exceeding its guidance range. The optical genome mapping (OGM) technology company also issued guidance for 2023, projecting revenue growth and an increase in its installed base of OGM systems. The company achieved all of its 2022 ELEVATE! milestones, including for prenatal, postnatal, and hematological clinical trials. Meanwhile, Bionano Laboratories launched OGM laboratory-developed tests (LDTs) for hematological malignancies and genetic disorders. Bionano also released a pre-commercial version of its next-generation OGM system, which it plans to launch commercially in the first half of 2023. Bionano's CEO, Erik Holmlin, commented that the company is "well-positioned" going into 2023 and is "pleased to see an uptick in overall awareness and adoption of OGM across the globe." Investors should note that this press release contains forward-looking statements that involve risks and uncertainties.