Bionano Genomics (BNGO) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $8.2 million, up 21% year-over-year, driven by increased clinical adoption, higher instrument and consumable sales, and global expansion of OGM.

• Consumables revenue rose 30–31% year-over-year, with 9,219 flow cells sold, reflecting strong recurring revenue and clinical adoption.

• Adjusted gross margin improved to 53%, the highest to date, up from 52% in Q2 2025, driven by cost management and operational improvements.

• Installed base of OGM systems grew 5% year-over-year to 397 units as of June 30, 2026.

• Welcomed Dr. Alex Hastie as Chief Scientific Officer, reinforcing scientific leadership.

Financial highlights

• Q2 2026 revenue was $8.2 million, up from $6.7 million in Q2 2025.

• Consumables revenue reached $4.3 million, up 30–31% year-over-year; instrument revenue up 46%.

• Sold 9,219 nanochannel array flow cells, up 27% year-over-year.

• Adjusted operating expense was $8.7 million, nearly flat year-over-year; GAAP operating expenses were $11.5 million, up 2%.

• Cash, cash equivalents, and investments totaled $10.4 million as of June 30, 2026, with a cash runway into at least Q1 2027.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $31–$33 million, representing 9–16% growth over 2025.

• Q3 2026 revenue guidance set at $8.2–$8.6 million, up 11–16% year-over-year.

• Growth expected to continue, primarily from increased utilization by existing clients, but guidance is constrained by manufacturing capacity for flow cells.

• Cash runway projected to extend into 2027, but management expects continued operating losses and negative cash flows for at least the next year.

• The company will require substantial additional capital in the near term to fund operations and may need to curtail or cease operations if unable to secure financing.