Bionano Genomics, Inc. (BNGO): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de la recherche génomique en évolution, Bionano Genomics (BNGO) émerge comme une force transformatrice, révolutionnant notre compréhension de la cartographie génétique à travers sa technologie de cartographie optique de génome optique à pointe. En faisant la pontage de manière transparente de l'innovation scientifique avancée avec des solutions de diagnostic pratiques, l'entreprise a développé un modèle commercial sophistiqué qui permet aux chercheurs, aux cliniciens et aux professionnels de la biotechnologie de débloquer des informations sans précédent sur les structures génétiques et les marqueurs potentiels de maladies. Cette exploration complète de la toile du modèle commercial de Bionao Genomics révèle une approche stratégique qui positionne l'entreprise à l'avant-garde de l'analyse génomique, offrant une détection de variantes structurelles à haute résolution et des solutions technologiques rentables qui remandent de l'avenir de la recherche génétique et des diagnostics cliniques.

Bionano Genomics, Inc. (BNGO) - Modèle commercial: partenariats clés

Collaboration avec les établissements de recherche universitaires

En 2024, Bionano Genomics a établi des partenariats avec les institutions universitaires suivantes:

Institution	Focus de la collaboration	Année établie
Université de Stanford	Recherche génomique	2022
École de médecine de Harvard	Recherche cytogénétique	2023
Université de Californie, San Diego	Cartographie du génome optique	2021

Partenariats stratégiques avec les centres de recherche génomique

Bionano Genomics a développé des partenariats stratégiques avec les centres de recherche génomique suivants:

• Institut national de recherche sur le génome humain (NHGRI)
• Genomics England
• Mayo Clinic Genome Center

Accords avec les laboratoires diagnostiques cliniques

Partenariats de laboratoire de diagnostic clinique à partir de 2024:

Laboratoire	Type de partenariat	Région géographique
Diagnostics de quête	Intégration de la plate-forme de test	États-Unis
Laboratoires ARUP	Implémentation de cartographie du génome optique	États-Unis
Sonic Healthcare	Collaboration technologique	Mondial

Relations avec les entreprises pharmaceutiques et biotechnologiques

PARTENARS DE CORPOSTRES DU PHARMACE ET DE BIOTECHNOLOGIE CLÉS:

• Illumina, Inc.
• Roche Diagnostics
• Thermo Fisher Scientific
• Novartis Pharmaceuticals

Collaborations de partenariat total: 12 partenariats confirmés dans tous les secteurs de la recherche, des cliniques et pharmaceutiques à partir de 2024.

Bionano Genomics, Inc. (BNGO) - Modèle d'entreprise: activités clés

Développement de la technologie de cartographie du génome optique

Bionano Genomics se concentre sur le développement du système de cartographie du génome optique SAPHYR® avec les spécifications clés suivantes:

• Capacité de résolution: détecter les variations structurelles jusqu'à 10 kilobases
• Débit d'imagerie: 250 Go par course
• Temps de traitement des échantillons: environ 3 à 4 heures par génome

Recherche et innovation de produits dans l'analyse génomique

Domaine de recherche	Investissement (2023)	Se concentrer
Variation structurelle génomique	12,4 millions de dollars	Génomique du cancer, diagnostics de maladies rares
Développement de l'algorithme logiciel	7,2 millions de dollars	Précision de cartographie du génome amélioré

Fabrication de systèmes de cartographie génomique

Mesures de production pour les systèmes SAPHYR® en 2023:

• Total des systèmes fabriqués: 87 unités
• Coût de production moyen par système: 250 000 $
• Emplacements de fabrication: San Diego, Californie

Développement de logiciels cliniques et scientifiques

Plate-forme logicielle	Coût de développement	Base d'utilisateurs
Logiciel Bionano Solve ™	5,6 millions de dollars	Plus de 250 institutions de recherche
Pipeline d'analyse du génome	3,9 millions de dollars	Laboratoires de diagnostic clinique

Amélioration et validation technologiques continues

Mesures d'amélioration de la technologie pour 2023:

• Dépenses de R&D: 24,1 millions de dollars
• Demandes de brevet déposées: 12
• Publications scientifiques: 37 articles évalués par des pairs

Bionano Genomics, Inc. (BNGO) - Modèle commercial: Ressources clés

Plate-forme de cartographie optique avancée du génome optique

Le système Saphyr de Bionano Genomics représente leur ressource technologique principale. Au quatrième trimestre 2023, la société a rapporté:

• Base totale installée de 245 systèmes Saphyr dans le monde entier
• Coût moyen du système: 350 000 $ par unité
• Revenus de contrat de maintenance: 75 000 $ par an par système

Équipe spécialisée de recherche génomique et d'ingénierie

Catégorie des employés	Nombre	Pourcentage
Total des employés	271	100%
Personnel de R&D	127	46.9%
Personnel d'ingénierie	83	30.6%

Logiciel de cartographie génomique et de visualisation propriétaire

Les ressources logicielles comprennent:

• Logiciel d'analyse du génome Saphyr
• Bionano Access Cloud Platform
• Outils bioinformatiques intégrés

Portefeuille de propriété intellectuelle

Catégorie IP	Compte total
Brevets délivrés	37
Demandes de brevet en instance	22
Assets IP totaux	59

Installations de recherche et de fabrication avancées

Détails de l'installation:

• Emplacement principal: San Diego, Californie
• Espace total des installations: 45 000 pieds carrés
• Capacité de fabrication: 60 systèmes Saphyr par trimestre

Bionano Genomics, Inc. (BNGO) - Modèle d'entreprise: propositions de valeur

Détection de variantes structurelles à haute résolution

Bionano Genomics propose une technologie de cartographie du génome optique (OGM) avec les spécifications suivantes:

Paramètre technologique	Spécification
Résolution de cartographie du génome	Détection de variante structurelle jusqu'à 250 Ko
Précision de cartographie	99,91% de précision
Temps de traitement des échantillons	24-48 heures

Solutions complètes de cartographie du génome

Les solutions génomiques clés comprennent:

• Système Saphyr pour la cartographie du génome
• Analyse rare des maladies constitutionnelles
• Profilage génomique du cancer
• Recherche génomique agricole

Technologie d'analyse génomique rentable

Métrique coût	Valeur
Par le coût de cartographie du génome	Environ 1 000 $ à 1 500 $
Coût de séquençage traditionnel comparatif	$3,000-$5,000

Capacités de diagnostic améliorées pour les troubles génétiques

Métriques de performance diagnostique:

• Détection de variations structurelles complexes
• Identification des réarrangements chromosomiques
• Précision du dépistage des troubles génétiques: 97,5%

Amélioration des outils de recherche clinique

Demande de recherche	Capacité
Institutions de recherche clinique utilisant la technologie	Plus de 250 institutions mondiales
Articles de recherche publiés	Plus de 500 publications évaluées par des pairs

Bionano Genomics, Inc. (BNGO) - Modèle d'entreprise: relations clients

Support technique pour la recherche et les utilisateurs cliniques

Bionano Genomics fournit un support technique dédié via plusieurs canaux:

Canal de support	Temps de réponse	Disponibilité
Assistance par e-mail	24-48 heures	En semaine de 8 h à 18 h PST
Support téléphonique	Immédiat	En semaine de 9 h à 17 h PST
Système de billets en ligne	72 heures maximum	Soumission 24/7

Assistance à la formation et à la mise en œuvre

Les services de formation client comprennent:

• Formation technique sur place
• Instruction basée sur le webinaire
• Manuels utilisateurs complets
• Bibliothèque de didacticiels vidéo

Mises à jour régulières des logiciels et de la technologie

Mettre à jour la fréquence	Type de mises à jour	Méthode de notification
Trimestriel	Correctifs logiciels	Notifications par e-mail
Bi-annuellement	Versions logicielles majeures	Communication client direct

Portail client en ligne et centre de ressources

Caractéristiques du portail client de Bionano Genomics:

• Suivi des performances de l'instrument en temps réel
• Outils de gestion des données
• Référentiel de documentation technique
• Forums de discussion communautaire

Services de consultation personnalisés

Type de consultation	Durée	Public cible
Consultation de stratégie de recherche	1-2 heures	Chercheurs universitaires
Atelier de mise en œuvre clinique	D'une demi-journée	Professionnels du laboratoire clinique
Conception de workflow personnalisée	Plusieurs séances	Grandes institutions de recherche

Bionano Genomics, Inc. (BNGO) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les institutions de recherche

Bionano Genomics maintient une équipe de vente directe dédiée axée sur les institutions de recherche. Au quatrième trimestre 2023, la société a signalé 47 représentants des ventes directes ciblant les centres de recherche universitaire, les centres de génome et les laboratoires cliniques.

Type de canal de vente	Segment cible	Nombre de représentants
Équipe de vente directe	Institutions de recherche	47

Plateforme de produits et de services en ligne

La société exploite une plate-forme en ligne complète pour la commande de produits et le support technique. En 2023, la plate-forme numérique a traité environ 1 285 commandes de produits et demandes de service.

Métriques de plate-forme numérique	Performance de 2023
Commandes de produits	872
Demandes de service	413
Total des transactions numériques	1,285

Conférences scientifiques et événements de l'industrie

Bionano Genomics participe activement à des conférences scientifiques pour présenter ses technologies. En 2023, la société a assisté à 18 conférences génomiques majeures dans le monde.

• Réunion annuelle annuelle de l'American Society of Human Genetics
• Conférence européenne de génétique humaine
• Plante internationale & Conférence du génome animal

Webinaires et marketing numérique

La société a dirigé 24 webinaires en 2023, atteignant environ 3 650 participants professionnels dans des domaines de recherche et cliniques.

Métriques d'engagement numérique	2023 données
Webinaires totaux	24
Participants au webinaire	3,650

Partenariats avec des distributeurs scientifiques

Bionano Genomics collabore avec 12 partenaires de distribution scientifique pour étendre sa portée du marché mondial. Ces partenariats couvrent les régions d'Amérique du Nord, d'Europe et d'Asie-Pacifique.

Régions des partenaires de distribution	Nombre de partenaires
Amérique du Nord	5
Europe	4
Asie-Pacifique	3
Partenaires de distribution totale	12

Bionano Genomics, Inc. (BNGO) - Modèle d'entreprise: segments de clientèle

Établissements de recherche universitaire

En 2024, Bionano Genomics cible les établissements de recherche universitaires avec son système de cartographie du génome Saphyr. Environ 1 237 universités de recherche dans le monde utilisent des technologies génomiques avancées.

Type de client	Pénétration estimée du marché	Dépenses annuelles en technologies génomiques
Universités de recherche de haut niveau	62%	3,4 millions de dollars
Universités de recherche de niveau intermédiaire	38%	1,2 million de dollars

Laboratoires de diagnostic clinique

Les laboratoires diagnostiques cliniques représentent un segment de clientèle essentiel pour Bionano Genomics.

• Nombre total de laboratoires diagnostiques cliniques aux États-Unis: 8 700
• Taux d'adoption du marché estimé pour la technologie Saphyr: 17,3%
• Investissement annuel moyen dans les technologies diagnostiques génomiques: 875 000 $

Organisations de recherche pharmaceutique

Les sociétés pharmaceutiques utilisent les technologies de cartographie génomique de Bionano pour le développement et la recherche de médicaments.

Taille de l'entreprise	Nombre de clients potentiels	Investissement technologique moyen
Grandes sociétés pharmaceutiques	47	5,6 millions de dollars
Sociétés pharmaceutiques de taille moyenne	126	2,3 millions de dollars

Centres de tests génétiques

Les centres de tests génétiques représentent un segment de clientèle croissant pour la génomique de Bionano.

• Total des centres de tests génétiques en Amérique du Nord: 2 340
• Pourcentage utilisant des technologies de cartographie génomique avancées: 24,6%
• Budget de technologie génomique annuelle: 650 000 $

Biotechnology Companies

Les entreprises de biotechnologie sont des clients clés pour les solutions de cartographie génomique de Bionano Genomics.

Segment de la biotechnologie	Nombre de clients potentiels	Taux d'adoption de la technologie
Biotechnologie axée sur la génomique	213	42.7%
Biotechnologie du développement thérapeutique	356	29.4%

Bionano Genomics, Inc. (BNGO) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Bionano Genomics a déclaré des dépenses de R&D de 39,7 millions de dollars, ce qui représente un investissement important dans le développement de la technologie génomique.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	39,7 millions de dollars	70.5%
2022	44,1 millions de dollars	75.3%

Coûts de fabrication et de production

La génomique de Bionano engage les coûts de fabrication principalement liés à son système de cartographie et aux consommables de génome optique Saphyr.

• Coût des revenus pour 2023: 16,4 millions de dollars
• Marge brute: 51,3%
• Fabrication des frais généraux: environ 5,2 millions de dollars par an

Investissements de vente et de marketing

Les frais de vente et de marketing pour Bionano Genomics en 2023 ont totalisé 22,3 millions de dollars.

Catégorie de dépenses	Montant	Pourcentage de revenus
Personnel de vente	12,6 millions de dollars	35.7%
Programmes de marketing	9,7 millions de dollars	27.5%

Acquisition du personnel et des talents

Les dépenses d'exploitation totales liées au personnel pour 2023 étaient de 78,2 millions de dollars.

• Total des employés: 283 au 31 décembre 2023
• Compensation moyenne par employé: 276 000 $
• Compensation à base d'actions: 15,3 millions de dollars

Maintenance des infrastructures technologiques

Coûts de technologie et d'infrastructure pour maintenir les plateformes de recherche génomique et les systèmes de calcul.

Composant d'infrastructure	Coût annuel
Systèmes informatiques	3,6 millions de dollars
Cloud computing	2,1 millions de dollars
Licences logicielles	1,5 million de dollars

Bionano Genomics, Inc. (BNGO) - Modèle commercial: Strots de revenus

Vente de systèmes de cartographie génomique

Au quatrième trimestre 2023, Bionano Genomics a rapporté les ventes de systèmes suivantes:

Type de système	Prix ​​moyen	Unités vendues en 2023
Système saphyr	$375,000	39 systèmes

Frais de licence de logiciel récurrent

Bionano Genomics généré 4,1 millions de dollars de revenus de logiciels et de services pour l'exercice 2023.

Contrats de service et support technique

Type de service	Revenus annuels
Contrats de services annuels	2,3 millions de dollars
Accords de support technique	1,8 million de dollars

Accords de recherche collaborative

En 2023, Bionano a rapporté 3,5 millions de dollars des collaborations de recherche, y compris:

• Projets de recherche financés par les NIH
• Accords de partenariat pharmaceutique
• Collaborations de recherche universitaire

Consommables et ventes de réactifs

Catégorie de produits	Revenus annuels
Réactifs de cartographie optique	7,2 millions de dollars
Kits consommables	5,6 millions de dollars

Revenu total de l'entreprise pour l'exercice 2023: 24,5 millions de dollars

Bionano Genomics, Inc. (BNGO) - Canvas Business Model: Value Propositions

Superior detection of structural variants (SVs) down to 500 bp, often missed by NGS. In a comparative study for acute leukemia, Optical Genome Mapping (OGM) uniquely found 37 events, representing 15.8% of positive findings, while both OGM and targeted RNA-seq detected 175 events (74.7% of positives).

Consolidates multiple traditional cytogenetics tests into a single digital workflow. This consolidation is supported by the establishment of a new Category I Current Procedural Terminology (CPT) code by the American Medical Association for OGM use in cytogenomic genome-wide analysis for constitutional genetic disorders. Furthermore, the final 2026 Clinical Lab Fee Schedule indicates a 47% Increase in Payment Determination for the Category I CPT code for OGM use in Hematologic Malignancies.

High-resolution, genome-wide structural variation analysis for complex diseases. The technology's utility is demonstrated by the growing body of research, with 97 new peer-reviewed publications in Q3 2025, a 10% increase year-over-year. During that same quarter, 841 human clinical research genomes were published using OGM, marking an 84% increase compared to Q3 2024.

Faster workflow from sample to SV call, in as little as three days.

Platform-agnostic software for integrated analysis of OGM, NGS, and microarray data. The VIA software, in its latest version 7.2, automates variant calling, annotation, and interpretation with Artificial Intelligence for enhanced contextualization across OGM, microarray, and next-generation sequencing (NGS) data.

The adoption and utilization metrics for the platform as of late 2025 reflect the value proposition's traction:

Metric	Q3 2025 Value	Q2 2025 Value	Year-over-Year Change (Q3 vs Q3 2024)
Installed OGM System Base	384 systems	378 systems	4% increase (Q3 2025 vs Q3 2024)
Nanochannel Array Flowcells Sold	8,390 units	7,233 units	7% increase
Consumables and Software Revenue Growth	N/A	16% increase (Q2 2025 vs Q2 2024)	15% increase (Q3 2025 vs Q3 2024)

The focus on routine users drives recurring revenue, as seen in the non-GAAP gross margin expansion:

• Non-GAAP Gross Margin in Q3 2025: 46%.
• Non-GAAP Gross Margin in Q2 2025: 52%.
• Non-GAAP Gross Margin in Q3 2024: 26%.

Bionano Genomics, Inc. (BNGO) - Canvas Business Model: Customer Relationships

You're focused on driving utilization from the established user base, which is the core of the current relationship strategy for Bionano Genomics, Inc. (BNGO). This approach centers on supporting and deepening engagement with the specific customers already running Optical Genome Mapping (OGM) systems.

The company's strategy explicitly targets sustaining and supporting its base of 118 routine use customers. These core accounts are critical, as they accounted for over 80% of consumables revenue as of late 2024, a focus that continued into 2025. This emphasis on existing users is showing results in utilization metrics; for instance, flow cell purchases by these existing customers grew by 7% in the first nine months of 2025 compared to the same period a year ago. The total installed base stood at 384 OGM systems at the end of the third quarter of 2025.

Bionano Genomics, Inc. (BNGO) supports these relationships with dedicated service infrastructure. The Saphyr™ Assure Service provides an optional (opt-in) automated health monitoring feature that continuously inspects data quality and instrument performance, allowing Bionano Support to proactively repair systems with minimal downtime. This service is key for maintaining the uptime of the installed base, which saw 7 new OGM systems installed in the third quarter of 2025 alone, contributing to a year-to-date total of 23 new system installations, with expectations to surpass 25 for the full year 2025.

Scientific and educational engagement builds the community around the technology. The company supports this through direct engagement and publication metrics.

• OGM users worldwide have published on a cumulative basis nearly 11,500 clinical research genomes.
• In the third quarter of 2025, there were 97 new publications demonstrating the value of OGM, representing a 10% growth over the same period the year before.
• Over 500 publications cite OGM solutions in total.

The direct sales and support model is geared toward these high-volume, routine-use clinical and research labs. The success of this relationship focus is reflected in the Q3 2025 financial performance, where total revenue reached $7.4 million, with consumables and software revenues increasing by 15% year-over-year. The company sold 8,390 nanochannel array flowcells in that quarter.

Here's a quick look at the utilization and installed base metrics as of the end of Q3 2025:

Metric	Value	Period/Context
Routine Use Customers Supported	118	Core revenue driver focus
Flowcells Sold	8,390 units	Q3 2025
Total Installed Base	384 systems	End of Q3 2025
New Systems Installed	7 units	Q3 2025
Consumables & Software Revenue Growth	15%	Q3 2025 vs Q3 2024

The ongoing support structure, including dedicated Field Applications and Field Service teams, is essential for onboarding and sustaining these labs, ensuring they can effectively use the system for routine analysis.

Bionano Genomics, Inc. (BNGO) - Canvas Business Model: Channels

You're looking at how Bionano Genomics, Inc. gets its Optical Genome Mapping (OGM) technology and data analysis tools into the hands of researchers and clinicians as of late 2025. The core strategy has definitely shifted to driving utilization from a focused group, so the channel mix reflects that intensity.

The direct sales force remains key, targeting what management calls its core group of 118 routine use customers, which, as of late 2024, accounted for over 80% of consumables revenue. This direct engagement helps push adoption in core geographies where the Americas region saw revenue increase by 9% year-over-year and EMEA sales rose by 10% in the full year 2024. That's how they are managing the near-term growth while keeping costs down.

For international reach beyond those core areas, Bionano Genomics relies on third-party distributors. The company supports its worldwide audiences through these partners, with specific mentions of activity in regions like North China (via Ecobono), Taiwan (via Pharmigene, Inc.), Thailand (via MDx Thailand), and Colombia (via Rochem Biocare S.A.S). Management also highlighted global momentum, noting research activity in regions like Japan, though specific distributor-driven revenue figures aren't broken out.

Online access is a growing channel, intrinsically linked to the installed base. The company is focused on driving utilization of its VIA software, which saw its segment grow by 11% in fiscal year 2024. In the third quarter of 2025, the combined consumables and software revenue was a strong $5.3 million out of the total reported revenue of $7.4 million for that quarter. This shows the digital component is a major revenue driver now.

Here's a quick look at how the revenue mix broke down in Q3 2025, showing the shift to recurring revenue streams:

Revenue Component	Q3 2025 Amount	Year-over-Year Growth (Q3 2025 vs Q3 2024)
Total Revenue	$7.4 million	21% increase
Consumables and Software Revenue	$5.3 million	15% increase
Nanochannel Array Flowcells Sold	8,390 units	7% increase
Instrument Revenue	$1.6 million	Change from $1.4 million in Q3 2025 vs $1.4 million in Q3 2025 (Note: Data shows $1.4M in Q2 2025 vs $2.3M in Q2 2024, and Q3 2025 instrument revenue was $1.6M vs $1.4M in Q3 2024)

Technology validation and awareness are pushed heavily through scientific channels. Bionano Genomics reported a new quarterly record of 119 peer-reviewed publications in the second quarter of 2025, followed by 97 peer-reviewed publications in the third quarter of 2025, underscoring growing scientific acceptance. They also highlighted momentum with nine studies presented at the American Society of Human Genetics (ASHG) Meeting in Q3 2025.

The diagnostic testing services channel, operating through Bionano Laboratories (Lineagen), has seen a strategic change; the company discontinued clinical services revenue, which contributed $0.7 million in Q2 2024 and $2.0 million in Q4 2023. However, the OGM-based LDTs (Laboratory Developed Tests) are supported by reimbursement pathways. Specifically, the payment determination for the Category I CPT code 81195 for hematologic malignancies, effective January 1, 2025, was set at $1263.53. This is defintely a key enabler for clinical adoption.

• OGM systems installed base reached 384 systems as of Q3 2025 end.
• The company plans to install between 25 and 30 new OGM systems in full year 2025, exceeding prior guidance.
• The company raised $10 million in a public stock offering in September 2025.

Bionano Genomics, Inc. (BNGO) - Canvas Business Model: Customer Segments

You're looking at the core groups Bionano Genomics, Inc. (BNGO) serves as of late 2025, based on their Q3 2025 performance and strategic focus. The shift is clearly toward driving utilization from established users.

Academic and government research institutions focused on genomics and genetic disease.

This segment is evidenced by the scientific output Bionano Genomics supports. In the third quarter of 2025, the company saw 97 new peer-reviewed publications featuring their Optical Genome Mapping (OGM) technology. Furthermore, 841 human clinical research genomes were published using OGM during that quarter, which was an 84% increase compared to the third quarter of 2024. Research focus areas included constitutional disease, mosaicism, and oncology applications.

Clinical laboratories adopting OGM for cytogenomic analysis, especially in oncology.

Clinical adoption is being catalyzed by reimbursement milestones. For OGM use in cytogenomic genome-wide analysis for constitutional genetic disorders, the Centers for Medicare & Medicaid Services (CMS) established a preliminary payment determination of $1,263.53 effective January 1, 2025. For hematologic malignancies (blood cancers), the 2026 Clinical Lab Fee Schedule (CLFS) indicates a 47% increase for CPT code 81195, raising the payment determination from $1,263.53 to $1,853.22, effective January 1, 2026. Studies presented at the American Society of Human Genetics (ASHG) Meeting in October 2025 demonstrated OGM utility in cancer biomarker analysis and acute leukemias.

Pharmaceutical and biotechnology companies for cell line stability and gene therapy development.

While specific revenue figures for this segment aren't broken out, the technology's application in cancer research, such as the comparison of OGM to targeted RNA-sequencing in acute leukemias, shows direct relevance to drug development and validation pipelines within pharma and biotech.

Routine-use customers who account for over 80% of consumables revenue.

Bionano Genomics, Inc. is strategically focused on driving utilization from its existing base of routine users. Consumables and software revenues, which are the primary driver of utilization, accounted for $5.3 million of the total $7.4 million revenue in Q3 2025. This represented a 15% increase year-over-year for this category. The company sold 8,390 nanochannel array flowcells in Q3 2025, a 7% increase over the prior year. The total installed base supporting these routine uses reached 384 systems at the end of Q3 2025.

Early adopters in new regions like Japan leveraging OGM for complex genetics.

The CEO noted seeing strong momentum and expanding utilization in new regions, specifically mentioning Japan, where researchers are using OGM to address complex genetics questions.

Here's a quick look at the key Q3 2025 operational and financial metrics tied to these customer activities:

Metric	Value	Context
Total Revenue (Q3 2025)	$7.4 million	Total revenue for the three months ended September 30, 2025.
Consumables & Software Revenue (Q3 2025)	$5.3 million	Revenue from consumables and software in Q3 2025.
Consumables & Software Revenue Growth (YoY)	15%	Increase in consumables and software revenues in Q3 2025 versus Q3 2024.
Flowcells Sold (Q3 2025)	8,390	Nanochannel array flowcells sold in Q3 2025.
Total Installed Base (Q3 2025 End)	384 systems	Total OGM systems installed at the end of Q3 2025.
New OGM Systems Installed (Q3 2025)	7	Number of new OGM systems installed during Q3 2025.
Peer-Reviewed Publications (Q3 2025)	97	Number of peer-reviewed publications in the third quarter.
Clinical Research Genomes Published (Q3 2025)	841	Human clinical research genomes published using OGM in Q3 2025.
CPT Code 81195 Payment (Effective Jan 1, 2026)	$1,853.22	CMS 2026 CLFS payment determination for hematologic malignancy analysis.

The company's strategic emphasis is on the recurring revenue from these users, as evidenced by the 15% growth in consumables and software revenue, which is the core of their transformed business model.

You should review the full Q3 2025 filing to see if the company provided a specific percentage breakdown of revenue derived from the routine user segment versus new system sales, as the $5.3 million from consumables/software is a strong indicator of this segment's importance. Finance: draft 13-week cash view by Friday.

Bionano Genomics, Inc. (BNGO) - Canvas Business Model: Cost Structure

You're looking at the cost side of Bionano Genomics, Inc. (BNGO)'s operations as of late 2025, focusing on where the cash is going to support the Optical Genome Mapping (OGM) platform. The story here is one of significant cost discipline driving margin expansion, even as they invest in the platform.

The primary cost drivers revolve around developing the OGM platform and its associated consumables. High R&D expenses for OGM platform and software development remain a foundational cost, necessary to advance the technology that underpins the entire value proposition. While specific R&D dollar amounts aren't broken out in the latest reports, the overall focus on software utilization suggests continued investment in that area.

Significant cost of goods sold (COGS) exists for manufacturing instruments and flowcells, which is directly reflected in the gross margin performance. The strategic shift toward consumables and software is clearly impacting this cost structure positively. Consumables and software revenues accounted for 72% of product revenue in Q3 2025, a mix that carries a higher margin profile than instrument sales.

The commitment to cost-saving initiatives is evident in the operating expense reduction. Non-GAAP operating expenses were reduced to $9.7 million in Q3 2025. This represents a 40% year-over-year decrease from the $16.1 million reported in Q3 2024. Honestly, that kind of reduction shows a real focus on operational efficiency.

The structure supporting the commercialization efforts-Sales, General, and Administrative (SG&A) costs for a global commercial team-is bundled within the total operating expenses. Furthermore, costs associated with intellectual property protection and regulatory compliance are ongoing, necessary expenditures for a medical technology company operating globally, though these are not itemized separately in the public summaries.

Here's a quick look at the key financial metrics reflecting this cost structure management through Q3 2025:

Metric	Q3 2025 Value	Comparison/Context
Non-GAAP Operating Expenses	$9.7 million	Represents a 40% reduction year-over-year from $16.1 million in Q3 2024.
Non-GAAP Gross Margin	46%	Material improvement from 26% in Q3 2024.
Total Revenue	$7.4 million	Up 21% compared to Q3 2024.
Flowcells Sold	8,390 units	A record, showing a 7% increase over Q3 2024.
Consumables and Software Revenue Growth	15% increase	Year-over-year growth, contributing to the higher gross margin mix.

The shift in revenue mix is a direct cost-structure lever. You can see the impact:

• Consumables and software mix was 72% of product revenue in Q3 2025.
• Instrument revenue was $1.6 million in Q3 2025.
• Instrument revenue in Q3 2024 was $1.4 million.

The company is definitely prioritizing utilization over aggressive system placement, which changes the nature of their COGS and associated costs.

Finance: draft the full 2025 projected OpEx breakdown based on the Q3 run-rate by Friday.

Bionano Genomics, Inc. (BNGO) - Canvas Business Model: Revenue Streams

You're looking at how Bionano Genomics, Inc. (BNGO) brings in money, which is shifting more toward recurring revenue streams from existing users. The strategy is definitely focused on utilization now, not just putting boxes in the door.

The full-year 2025 revenue guidance remains projected to be between $26.0 million and $30.0 million. This outlook is supported by the company's focus on driving utilization within its existing installed base of Optical Genome Mapping (OGM) systems.

The revenue streams are segmented across four main areas, with a clear emphasis on the consumables and software components, which are higher margin.

For the third quarter of 2025, total revenue was $7.4 million, a 21% increase compared to the third quarter of 2024. This performance reflects the strategic shift, as prior periods included revenue from clinical services which have since been discontinued. The core business, excluding those discontinued services, saw growth.

Here's a breakdown of the revenue components based on the latest reported quarter:

Revenue Component	Q3 2025 Amount (Approximate)	Q3 2024 Amount	Year-over-Year Change (Consumables/Software)
Consumables and Software Revenue	$5.3 million	N/A	15% increase
Instrument Revenue	$1.6 million	$1.4 million	N/A
Total Revenue	$7.4 million	$6.1 million	21% increase (Total)

The consumables revenue stream is directly tied to the use of the installed base of OGM systems. You can see the volume growth in the key consumable:

• Nanochannel array flowcells sold in Q3 2025 totaled 8,390 units, which was a 7% increase from Q3 2024.
• Consumables and software together represented 72% of the product mix in Q3 2025.

Instrument revenue comes from the sale of OGM systems, such as Saphyr/Stratys. The company is actively managing the installation pace, with expectations now raised for the full year. The installed base stood at 384 systems at the end of Q3 2025, following 7 new installations during that quarter. The expectation for new OGM system installations for the full year 2025 is set to surpass 25 systems, an increase from previous guidance of 20 to 25.

Service revenue is derived from instrument maintenance contracts and OGM data services, though the company has moved away from clinical services revenue. The focus on routine users is intended to generate more predictable, recurring revenue from the consumables and software.

Software revenue from licenses and subscriptions for VIA™ and Solve™ is bundled with the consumables growth, as consumables and software sales are reported together and showed a 15% year-over-year increase in Q3 2025.

Finance: draft 13-week cash view by Friday.