The stock of Bionano Genomics Inc (BNGO) closed the recent trading session at $2.16, 0.93% more than the previous trading session. On the last check, the stock of BNGO followed a bearish pattern in the after-market, losing 8.8% to $1.97. BNGO published the financial performance for its Q4 and FY21.
BNGO’s FY21 performance
On 1 March 2022, Bionano Genomics published the financial performance for the period Q4 and FY21, which ended on 31 December 2021. The company posted revenue of $6.3 million in Q4 of FY21 compared to $3.9 million in the corresponding period of last year. This marks a growth of 57.9%. The yearly revenue expanded by 111.4% to $17.9 million in 2021 from $8.5 million in 2020. Total loss of BNGO grew by 95.6% in Q4 of FY21 to $22.9 million versus $11.7 million in Q4 of FY20. The yearly loss expanded by 76.2% in 2021 to $72.4 million. BNGO’s operating loss increased by 158.7% in Q4 of FY21 to $28.7 million against $11.1 million in the same year-ago period. Also, the yearly operating loss expanded by 99.9% in 2021 to $77.1 million.
The company sold 12,518 flow cells in the fiscal year 2021. The Saphyr system of the company grew by 14% to 164 bases in Q4 of FY21 versus 141 bases in Q4 of FY20. Further, BNGO finished the principal model for the single-molecule imaging framework for OGM. Moreover, Bionano obtained BioDiscovery, Inc, including its industry-driving software, NxClinical.
CEO Remarks
The CEO of Bionano Genomics, Erik Holmlin, stated that they accept 2021 was ground-breaking for Bionano. He further added that they added top-notch software through the addition of BioDiscovery and fundamentally improved their programming aptitude.
Mr. Holmlin concluded that they start in 2022 hoping to proceed with the energy that is enhanced throughout 2021.
About BNGO
Bionano Genomics (BNGO) is a supplier of genome investigation arrangements. The investigations can empower analysts and clinicians to further uncover answers to inquiries in medication. The company has a market cap of $624.6 million and 289.18 million pending shares. BNGO have a headquarter in San Diego, California, the United States of America (USA),
