Bionano Genomics Q2 2025 Earnings Call Transcript

Key Takeaways

  • Positive Sentiment: BioNano’s shift to focus on “routine users” drove a 17% increase in flow cell sales year-over-year, signaling stronger consumable and software utilization.
  • Neutral Sentiment: Second-quarter revenue was $6.7 M (down 13% year-over-year, or 5% excluding discontinued services) while non-GAAP gross margin expanded to 52% and non-GAAP operating expenses fell 53%, reflecting improved profitability.
  • Positive Sentiment: Released major software and compute updates—VIA 7.2, Solve 3.8.3, and Stratus Compute enhancements—with AI-driven workflows and doubled cancer-sample capacity to streamline OGM adoption.
  • Positive Sentiment: Achieved key market milestones: a record number of OGM publications this quarter, surpassing 10,000 clinical research genomes, and a second Category 1 AMA CPT code for constitutional genetic disorder testing.
  • Positive Sentiment: Reiterated full-year revenue guidance of $26–30 M, projected Q3 revenue of $6.7–7.2 M, and raised expected 2025 OGM installations to 20–25 systems, up from 15–20.
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Earnings Conference Call
Bionano Genomics Q2 2025
00:00 / 00:00

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Operator

Good day, and welcome to the Bionano Second Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Kelly Gora from Investor Relations. Please go ahead.

Kelly Gura
Vice President at Gilmartin Group

Thank you, and good afternoon, everyone. Welcome to the Bionano Second Quarter twenty twenty five Financial Results Conference Call. Leading the call today is Doctor. Eric Holmlin, CEO and Principal Financial Officer of BioNano, and he is joined by Mark Adamczak, BioNano's Vice President of Accounting and Principal Accounting Officer. After market close today, Bionano issued a press release announcing its financial results for the 2025.

Kelly Gura
Vice President at Gilmartin Group

A copy of the release can be found on the Investor Relations page of the company's website. Certain statements made during this conference call may be forward looking statements. Actual results may differ materially from such statements due to several factors and risks, some of which are identified in Bionano's press release and Bionano's reports filed with the SEC. These forward looking statements are based on information available to BioNano today, 08/14/2025, and the company assumes no obligation to update statements as circumstances change. During our call, we may reference certain non GAAP financial measures, which we believe provide useful information for investors.

Kelly Gura
Vice President at Gilmartin Group

Reconciliation of these measures to GAAP can be found in our press release and slide deck. An audio recording and webcast replay for today's conference call will also be available online on the company's Investor Relations page. With that, I will turn the call over to Eric.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Thank you, Kelly, and good afternoon, everyone. The 2025 was solid. Today, in addition to discussing our quarterly results, we want to highlight several signs that we believe indicate the strategic shift we implemented in September 2024, moving our focus from heavy spending on customer acquisition associated with new instrument placements toward those customers who use our optical genome mapping or OGM products and our via software routinely inside of genetics is having a positive impact on our business. I would like to start off by discussing the broader markets where our opportunities lie. In general, our focus is on bringing solutions to pathology, which is the broad field that investigates disease, including its causes, developments, effects.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

In fact, Bionano has become a digital pathology company. While there are many branches and subspecialties of pathology, our solutions concentrate primarily on cytogenetics and molecular pathology and we can see an opportunity to expand into clinical and anatomic pathology over time. Globally, these branches of pathology currently rely on multiple technology platforms to function. The mainstay in cytogenetics for example is karyotyping. It's the standard for first line analysis in hematologic cancers in nearly every country around the world and it hasn't changed in the past fifty years.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Other techniques such as FISH and microarrays are similarly antiquated and limited. Optical genome mapping consolidates these workflows and the fusion analysis from molecular pathology into one digital workflow. Sequencing is also impacting pathology with multiple workflows already adapted to sequencing and techniques like single cell, spatial, and protein analysis showing promise for standardized sequencing readout that may eventually reach clinical scale. It's possible to imagine a large consolidation across molecular, anatomic, and clinical pathology into sequencing as well. One critical component that will underpin this transformation and consolidation in the future is AI driven software, such as our VIA software.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

VIA streamlines the visualization, interpretation, annotation, reporting of variants in a format that is easy for clinical researchers to use. Via is best in class for OGM analysis and widely accepted as a gold standard for CNV analysis from microarrays and sequencing. Some labs running long read sequencing have shared their excitement about using VIA for their data analysis as well, which is particularly encouraging. Our mission is to make our technology and workflows easy for customers to use. While we still have a lot of work to do, we have made tremendous progress and see substantial opportunity to advance this area of digital pathology both now and in the future.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

With that overview, I'd like to shift gears and talk about our current strategy where we are concentrated on driving utilization of our solution within a subset of our OGM and via user base. We call these users routine users. These customers tend to have an established flow of samples to run on our systems and we believe this group will drive most of our revenue and profit growth in the near term. Our strategy to address them has four pillars which form the basis of how we execute. First, we support and sustain the installed base of routine OGM and via software users.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Second, we drive utilization through adoption of via software across the routine OGM user base and facilitate their menu expansion. Third, we build support needed for optical genome mapping reimbursement and inclusion in medical society guidelines and recommendations. And fourth, we focus on improving profitability and scalability with lowering costs and driving higher volumes. Now taking a closer look at our results in the second quarter where we have made excellent progress against this new strategy, total revenue for the second quarter was $6,700,000, a decrease of 13% when compared to the 2024, which included $700,000 in revenues from discontinued services, which do not contribute to our second quarter twenty twenty five revenues. When adjusting for these discontinued clinical services, the revenue decrease was 5% year over year.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Now we sold 7,233 flow cells in the 2025. This amount reflects a 17% increase compared to the same period, last year. We're extremely pleased to see this double digit growth in flow cell sales year over year, and we believe it's a result, is a strong indicator for our efforts towards driving utilization within this routine customer group, routine use customer group. Now, non GAAP gross margin for the 2025 was 52%, which is significantly higher than the 35% non GAAP gross margin reported a year ago. Second quarter twenty twenty five non GAAP operating expenses were 8,800,000.0 compared to 18,800,000.0 in the 2024, which reflects a 53% reduction year over year.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

And we installed seven new optical genome mapping systems in the quarter and brought back eight for a net decrease of one in the installed base to three seventy eight systems installed. That reflects a increase of 4% over the three hundred and three six 363 systems installed as of 06/30/2024. In the 2025 through June 30, we have installed 16 new systems. And we ended the quarter with 27,400,000.0 in cash, cash equivalents, and available for securities available for sale securities, of which $11,000,000 was subject to certain restrictions. Now the fundamental thesis of our current strategy is that we can support a committed group of routine users who repeatedly purchase and use our consumables and software at higher rates overall.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

When taking a closer look at two metrics, the number of flow cells sold and revenues for consumables and software combined, we can see support for this idea. Flow cells, as we reported, grew 17% in the quarter compared to last year, and we can look deeper into that number by removing the number of flow cells sold to new customers in the 2024 and 2025. And in so doing, the number of flow cells sold to the remaining existing customers grew by 14%. So growth for flow cells sold to the existing customers in the 2025 compared to the 2024 overall has grown, by 7%. We believe these data suggest that existing customers are using the product and repurchasing it at higher volumes.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

We intend to continue our efforts to expand this growth. For recurring routine use revenue, we looked at the combination of consumables and software sales, which grew 16% year over year in the 2025 and eight percent year over year for the 2025. As a percentage of the total product mix, consumables and software revenue increased from 55% in the 2024 to 73% in the second quarter of this year, and for 57% in the 2024 to 77% in the 2025. We believe this shift is growth, is driven by growth and utilization as well as a reduction in new instrument sales, which both of which are key elements to our strategy. Moving down the p and l, we're also focused on operating efficiently to reduce costs and improve our gross margins to make the business more profitable.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

We have made noticeable progress reducing our non GAAP operating expenses really since the 2023. In fact, we have taken out over a $100,000,000 of annual non GAAP operating expense and materially reduced headcount over that period by more than 300 people since the 2023. In the first half of this year, non GAAP operating expense was roughly flat at 8,500,000.0 for q one and 8,800,000.0 for q two with q two representing a 53% year over year reduction. Turning to non GAAP gross margin, cost reduction along with improvements to our product manufacturing costs have enabled margin expansion from 23% back in the 2023 steadily to 52% this quarter. It's the first time that we're reporting a margin in this range for this product mix.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

We expect to see continued margin expansion over time, but expect to remain around the current levels for the near term. Importantly, these improvements in cost and margin are strong indicators that we are improving our financial profile. Turning now to a few key milestones in the quarter, which we believe are tied to our strategy and will enable our customers to more easily adopt and increase their use of OGM. We released an incredibly powerful update to our software suite and compute solutions with VIA 7.2, Solve three point eight point three, and updates to the software that enable our GPU based Stratus Compute platform. They have all been released in a first wave to select customers, and we expect a broad commercial release later this year.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

In fact, installations have begun. Amongst key features, Versus 7.2 now offers the same transformative AI driven workflow users have adopted for hematologic malignancies to the workflow for analysis of constitutional genetic disorders, which we believe can be a game changer for analysis of these conditions. Solve updates and expands its database substantially and improved the accuracy of structural variation detection while updates to the Stratus Compute are expected to double its capacity for weekly analysis of cancer samples. We are making the OGM workflow easier with these advancements. Now in building the support needed for OGM reimbursement, we believe a growing number of publications illustrating the utility of optical genome mapping and cytogenetics and the number of clinical research genomes published are positive leading indicators.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

The 2025 had the highest number of publications of any quarter in the history of optical genome mapping and the optical genome mapping community has now surpassed 10,000 published clinical research genomes, which is an incredible milestone. These publications provide the support for new customers to adopt, existing customers to expand applications, and for third parties to support OGM in reimbursement. This June, in fact, the editorial board of the American Medical Association established a second category one CPT code for OGM. This one for use of OGM in evaluation of constitutional genetic disorders, which is yet another incredible milestone for our community. We believe this CPT code may pave the way for even more routine use of optical genome mapping in cytogenetics as part of this digital pathology strategy.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

To wrap up, I would like to provide our outlook for the remainder of the year. We are reiterating our full year revenue guidance of 26 to 30,000,000. We expect q3 revenues to be in the range of 6.7 to 7,200,000.0. And given the 16 new OGM systems installed already in the first half of the year, we are raising our expectations for new OGM installations in 2025 to be in the range of 20 to 25 compared to the prior range of 15 to 20. So with that, Didi, please go ahead and open the line for questions.

Operator

Thank you. And our first question comes from Jason McCarthy of the Maxim Group. Your line is open.

Michael Okunewitch
Senior Research Analyst - Biotechnology at Maxim Group

Hey guys, this is Michael Okunowicz on the line for Jason. Thank you so much for taking my questions today and congrats on the great progress.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Thanks, Michael.

Michael Okunewitch
Senior Research Analyst - Biotechnology at Maxim Group

So, I guess I wanted to ask with regards to via how universal is the use of via software among the ogm users? Is it fairly one to one over there, or are there some opportunities to expand via use among your existing OGM base?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

So the answer is when we look at across the whole installed base of OGM systems, know, Via is probably installed in less than maybe around a third of them, but when we look at our routine use customers, that adoption rate is much higher. There still remains the opportunity to drive that adoption, and so, you know, that is something that we see can enable us to expand utilization. And even amongst the sites that have adopted it, you know, they haven't all put it into their own routine use. And so that's a big focus for us from a training perspective, and we think that these new updates are going to help by introducing this workflow for constitutional genetic disorders. So I think, you know, the answer is that adoption is plentiful amongst the customers that we're really focused on right now in routine use regime, but there remains a significant opportunity to install it at more sites and to increase the utilization amongst all of those sites.

Michael Okunewitch
Senior Research Analyst - Biotechnology at Maxim Group

Mhmm.

Michael Okunewitch
Senior Research Analyst - Biotechnology at Maxim Group

Are you putting any effort towards marketing via in a non OGM users? You mentioned there are a couple of people out there using via for applications like long read sequencing. And do those customers represent an opportunity for cross selling to place OGM units without the high acquisition costs of going out and then finding completely new users?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

I think the answer is yes. And let me just be clear. In the quarter, over the course of the year, we do sell a substantial amount of software for non OGM applications, structural variation detection analysis reporting off of NGS and microarrays. And so that's a significant portion of the business. And, you know, we we do believe that those customers who are using via for non OGM applications can expand, you know, their relationship with the company and become OGM users.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

And so, you know, maybe you could say it's a little bit of a Trojan horse. There are some intricacies about how labs within the pathology universe are constructed and how samples flow. And so it's not a one for one where you would expect to see direct adoption, but it certainly is an opportunity. And I think really, know, via, you know, performs incredibly well for these applications. And so, you know, it's a way for the BioNano name to be present at institutions.

Michael Okunewitch
Senior Research Analyst - Biotechnology at Maxim Group

Alright. Thank you. And then just one last one for me, and I'll hop back into the queue. So you did mention that the newest iteration of VIA does include an AI component. So what role does AI play in the via software?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

When you think about what happens in this workflow, and I think you have probably worked on some of these projects, When variants are identified, it's possible that they have been seen before, and so that there are publications associated with them. Similarly, there may be other labs that are looking for variants of this type, and then there are a variety of databases that exist that can, score and, categorize these variants and help researchers to determine ways in which they want to report these variants. And so this type of analysis of these databases is an example where the computational power that AI brings can accelerate and improve the results that are generated through this analysis.

Michael Okunewitch
Senior Research Analyst - Biotechnology at Maxim Group

All right, thank you for the insightful answers and, congrats on the great progress this quarter.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Thank you, Michael.

Operator

Thank you. And our next question comes from Yi Chen of H. C. Wainwright and Company. Your line is open.

Yi Chen
MD - Equity Research at H.C. Wainwright & Co., LLC

Thank you for taking my questions. So your press release mentioned that you brought back eight systems during the quarter and placed installed seven new systems. So I assume the eight systems you brought back are, users that are not routine users. Correct?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Yes. You know, we have a reagent rental program, and so labs can bring a system on and test it out and evaluate it. And, you know, in the cases of these examples, they, you know, went through their rental contract and at the end, you know, decided that they were not going to move forward. I think that, you know, one common theme amongst the majority of the systems that are returned is that the initial application is much more of a research oriented application. And so what I think in the current environment where there are a lot of constraints around funding, I think that that may be one of the effects, but we shouldn't think of that as a reduction to the routine use customer pool.

Yi Chen
MD - Equity Research at H.C. Wainwright & Co., LLC

So the new systems you placed in as the second quarter or the coming quarters, they have all go through the they have to go through the evaluation period too. And at the end, they have to determine whether they want to keep the system or they want to return the system. Is that the right idea?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Well, it it depends a little bit on the way in which the customer contracts with the company. So if they rent the instrument, which means they commit to a consumables volume over time, certain number of consumables purchased, you know, per year, you know, they can, you know, have it for, the minimum would be one year now, these deals that we're doing, and there is the potential that they could return it after that year, but if they buy the system from us, then you know, they own the system and it's theirs, the question is whether they choose to utilize it going forward or not and we have a mixture of these rentals and purchases and, you know, since we're doing fewer deals now, you know, it's kind of interesting. It's about it's about fifty fifty purchase versus rental, But it is true that, you know, somebody who rents the system does have the option to, you know, basically discontinue their rental at the end of the contract period, I think is quite common, in in the industry.

Yi Chen
MD - Equity Research at H.C. Wainwright & Co., LLC

Got it. So, at this point, I don't know if you can provide a rough estimate as to, the return rate among the new systems placed or attrition rate? Like, what percentage of new a new system placed will eventually be returned?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Yeah. I mean, I think it's a very good question. And, you know, when we look at the new systems that are going in, you know, it's it's it's it's kind of it's a little bit premature to talk about the, return rate amongst these current adopters because they really reflect this shift in strategy. And and so, you know, we're we're not selling the system to a lab that's gonna be doing speculative research. And so our expectation is that, you know, these systems are not coming back.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

I mean, I'm, you know, I'm sure that it will happen potentially, but it's a little bit premature for us to give a return rate amongst this segment of customers, it's it's not zero. We have taken some back, but, you know, it's very close to it's very close to zero.

Yi Chen
MD - Equity Research at H.C. Wainwright & Co., LLC

I see. And with respect to the second category one CPT code from AMA, could you tell us how is it different from the first code and how is it going to facilitate the reimbursement going forward?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Yeah, it's an excellent question. So, I mean, if you think about the sort of digital pathology campaign that we are on to really consolidate cytogenetics onto optical genome mapping, within that effort, you've got two very distinct, applications. Analysis of samples, for hematologic malignancies and analysis of samples for constitutional genetic disorders. And the way that the CPT codes work is that even though the methodology itself is fairly similar, there are differences in the workflows such that, you know, it's appropriate to have different codes. And I think that there is a chance for there to be differences in pricing. We don't know what the constitutional genetic condition code will be priced at.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

We would expect to see the draft pricing probably sometime in September. You know, the hematologic malignancy code was priced at $1,263. We understand that some of our customers have petitioned CMS to increase that price. And so I I think that, you know, while we would have liked for one code to exist from the very start, now that we've gone through the process, I think it's beneficial to have a code dedicated to each of these major applications because for the reason that somebody might be doing that analysis, it's fairly unique and different. It's a different body of literature that supports it.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

And, hopefully, you know, let's just say could potentially drive differences in pricing. So we'll wanna pay attention to that, in the next weeks.

Yi Chen
MD - Equity Research at H.C. Wainwright & Co., LLC

Got it. Thank you very much.

Operator

Thank you. And our next question comes from Mark Massaro of BTIG. Your line is open.

Vidyun Bais
VP - Equity Research at BTIG

Hey, guys. This is Vivian on for Mark. Thanks for taking the questions. So I think the instrument placement guidance assumes a slight decel in the back half. Should we just think of that as conservatism?

Vidyun Bais
VP - Equity Research at BTIG

I would think that there might be a slight budget flush dynamic in Q4. So just how should we be thinking about that? Thanks.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

I think that probably, yes, conservatism. If you double if you double the, first half, you would get 32. On the other hand, you know, it's probably appropriate to be conservative because even if you get a budget flush and there are orders and so forth, you're actually getting them installed could spill over into the 2026, for example. So, you know, I I think I would say that I feel very confident that we'll, sort of, you know, meet this new raised guidance.

Vidyun Bais
VP - Equity Research at BTIG

Okay. That's perfect. And then just a follow-up on the flow cells. I think you beat us there. I think you alluded to it in the prepared remarks, but could you just, discuss one more time, what you think drove that?

Vidyun Bais
VP - Equity Research at BTIG

And do you have a sense on how long it takes, the newer customer group to reach maturity and kind of ramp their utilization there?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Yeah, really good questions. I mean, I think that to be fair to you and to us and to everybody who's, you know, following the trajectory here, you know, we expect there to be lumpiness, and the sort of routine user base is sizable, but it's not so big that you know, it's not gonna it'll be just smooth. So we expect there to be some lumpiness. Having said that, you know, we have really focused on supporting customers to make sure that they're, you know, up and and running and, you know, addressing those customers with the highest potential for utilization. You know, our training programs on the via software and other aspects of the workflow in key applications, like hematologic malignancies, are underway, and this is a big concentration for us.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

And so I think that there have been a lot of good execution oriented actions that we've taken and that those are paying off, and that's why we're seeing that growth. You know, in in addition, you know, in in sort of, you know, transitioning to your question a little bit about the time to get up to speed, you know, we had a pretty substantial number of systems get installed and people get trained towards the end of last year and so we're probably starting to see that utilization and, you know, I think that the the time to, you know, a lab getting into a routine use situation with OGM, it's gonna be variable. It's without a doubt a minimum of three months, but I think six to nine months is a healthy time frame to be thinking about. There's just a lot of stuff that needs to happen after install that is related to requirements that the lab needs to follow depending on what their desired application is. And so, know, it takes some time.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Having said that, almost every system, you know, that goes out buys consumables up front and, you know, so they're turning through a wave of consumables to begin with. And it's like, when do we get them that point of their first, you know, repurchase? Again, I think that that's likely in that, you know, six month time frame, maybe six to nine months is is is a good way to think about it.

Vidyun Bais
VP - Equity Research at BTIG

Okay. That's very helpful. Thanks. If I could just squeeze in one last one, maybe a higher level question. There has been some pickup of deal making in our space a little more recently.

Vidyun Bais
VP - Equity Research at BTIG

Just, how are you thinking about strategics or partnerships here?

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Well, look. I mean, I think that there's the cliche answer. You know, every every day between the hours of 09:30 and four Eastern Time, the company is definitively for sale. And, you know, we're a well known entity out there. And so I would expect that Bionano is certainly on the radar screen of strategics.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

And we have a variety of discussions that, you know, are are ongoing all the time. And I think what's unique about BioNano across the space of companies, let's say, that are similarly situated to us, you know, early commercial stage, you know, maybe feeling some of the constraints and difficulties of the current equity capital markets. I think Bionano is pretty far advanced. So, you know, even even with everything that we've gone through, you know, we're we're printing a $6,700,000 quarter and guiding, you know, 6.7 to $7,200,000 for the next quarter. I think, you know, 26 to $30,000,000 on the top line, 52% gross margin with expenses that are no longer so significant that folks can't, you know, see a way to, you know, folding Bionano in.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Having said that, I think we're very committed to our strategy of this digital pathology transformation. We know it's gonna be incredibly valuable and that there's so much upside for our business. So, you know, you know, we we we sort of stick to our knitting, if you will.

Vidyun Bais
VP - Equity Research at BTIG

Perfect. Thanks so much for the time.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Thank you, Vivian.

Operator

Thank you. This concludes our question and answer session. I'd like to pass it back to Eric Holmlin for closing remarks.

Erik Holmlin
Erik Holmlin
President, CEO & Director at Bionano Genomics

Okay. Thank you, Didi, and thank you to everyone who joined. We're very happy with this quarter, we look forward to updating you on our Q3 conference call. Thank you very much.

Operator

This concludes today's conference call. Thank you for participating, and you may now disconnect.

Executives
    • Erik Holmlin
      Erik Holmlin
      President, CEO & Director
Analysts
    • Kelly Gura
      Vice President at Gilmartin Group
    • Michael Okunewitch
      Senior Research Analyst - Biotechnology at Maxim Group
    • Yi Chen
      MD - Equity Research at H.C. Wainwright & Co., LLC
    • Vidyun Bais
      VP - Equity Research at BTIG