Genomic testing equipment manufacturer Bionano Genomics, Inc. (BNGO) is gaining traction with its third-generation optical mapping solution, Saphyr, which offers advanced capabilities crucial for genome research. As of the first quarter of 2023, the total installed base of Saphyr systems reached 259, representing a 47% increase over the same period last year.
Despite the growth in its top line, BNGO has yet to see an improvement in its bottom line. The company reported a net loss of $37.12 million for the first quarter of 2023, and Street analysts do not anticipate the firm becoming profitable in the near future.
