Bionano Posts $0.54 Per-Share Loss Despite 12% Revenue Growth in Q3
Key Facts
Bionano Genomics announced on November 10 its results for the third quarter ended September 30, 2026, reporting a loss of $0.54 per share, compared with a consensus estimate of $0.45, a miss of $0.09 per share. In contrast, total revenue rose 12% to $8.3 million, compared with $7.4 million in the same period of 2025. The results show a divergence between continued sales growth and improvement in some operating metrics, and a per-share loss that was wider than estimates. The company also reported that its quarterly net loss narrowed to $6.453 million from $8.503 million a year earlier. Bionano reaffirmed its full-year 2026 revenue outlook of $31 million to $33 million.
Growth in total revenue came alongside a 24% increase in consumables revenue to $4.7 million compared with the third quarter of 2025. The company sold 9,870 flow cells during the quarter, up 18% from 8,390 cells in the same period last year. These figures show that the increase covered both consumables and the volume of cells sold, two operating metrics the company reported with its results. Gross margin was 48%, up from 46% in the third quarter of 2025. On expense control, operating expenses fell 12% to $10.5 million, while adjusted operating expenses declined 9% to $8.8 million.
The comparison over the first nine months presents a more mixed picture than the quarter alone: revenue was $23.134 million through September 30, 2026, compared with $20.557 million in the same period of 2025. But the net loss for the period rose to $22.179 million from $18.462 million a year earlier. Cash and cash equivalents totaled $4.355 million, alongside investments of $3.813 million as of September 30. The company warned that its ability to continue as a going concern depends, among other factors, on extending its cash runway and obtaining substantial additional financing. This puts revenue growth and the improved quarterly margin in the context of the company's need to manage costs and secure the financing it cited.
The interim chief executive said coverage and regulatory progress during the quarter helped build a "clearer path to reimbursement for OGM-based testing costs." The company said it expects this path to support broader clinical adoption over time. It also announced three independent, peer-reviewed publications addressing the clinical value of OGM in myelodysplastic syndromes, acute myeloid leukemia and therapy-related myeloid neoplasms. The company links progress in coverage and regulation with a path to reimbursement for testing costs, while the publications, according to its announcement, provide evidence of clinical interest in the technology. It also reaffirmed its 2026 revenue range, with no change to its announced guidance.
In trading, Bionano shares closed at $1.16 on November 9, according to EL7 data. In the November 10 session, the day results were announced, the shares closed at $1.25, up 7.76% during the session, according to published historical price data. The company held its third-quarter earnings call on November 10 at 4:30 p.m. Eastern time. It said an archived recording of the call would later be available in the investor section of its website. The annual revenue range the company reaffirmed, alongside its loss and liquidity metrics, remains among the key elements of its reported results.