Bionano Genomics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Bionano Genomics, Inc. filed its 2023 10-K, detailing financial performance and corporate structure.</b>

AI Summary

Bionano Genomics, Inc. (BNGO) filed a Annual Report (10-K) with the SEC on March 5, 2024. Bionano Genomics, Inc. filed its 2023 Form 10-K on March 5, 2024. The filing covers the fiscal year ending December 31, 2023. Key financial data for 2023 and prior periods is included. Information on convertible notes and warrants is detailed. The company is based in San Diego, CA, and operates in the Laboratory Analytical Instruments sector.

Why It Matters

For investors and stakeholders tracking Bionano Genomics, Inc., this filing contains several important signals. This 10-K provides a comprehensive overview of Bionano Genomics' financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's trajectory. The filing includes specific details on debt instruments and equity components, offering insights into the company's capital structure and potential future dilution.

Risk Assessment

Risk Level: medium — Bionano Genomics, Inc. shows moderate risk based on this filing. The company's financial performance and cash burn rate, as detailed in the 10-K, present ongoing risks to its operational sustainability and ability to meet its financial obligations.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Bionano Genomics' current financial position and future outlook.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the report)
• 2024-03-05 — Filing Date (Date the 10-K was filed)
• 0001411690 — Central Index Key (Company identifier)
• 3826 — SIC Code (Laboratory Analytical Instruments)
• 2025 — Note Maturity Year (Senior Secured Convertible Notes Due 2025)

Key Players & Entities

• Bionano Genomics, Inc. (company) — Filer name
• 2023 (date) — Fiscal year end
• March 5, 2024 (date) — Filing date
• San Diego, CA (location) — Business address
• 3826 (industry_code) — Standard Industrial Classification
• Senior Secured Convertible Notes Due 2025 (financial_instrument) — Debt instrument
• Registered Warrant Common Stock (financial_instrument) — Equity component
• Purigen (product) — Mentioned in context of liabilities

FAQ

Risk Factors

• Going Concern [high — financial]: The company's ability to continue as a going concern is dependent on its ability to secure additional financing and achieve profitability.
• Competition [medium — market]: The market for genomic analysis tools is highly competitive, with established players and emerging technologies.
• Product Development and Commercialization [medium — operational]: The success of the company relies on the successful development and commercialization of its Saphyr platform and associated reagents.
• Regulatory Approvals [low — regulatory]: The company's products may be subject to regulatory review and approval processes.

Key Financial Figures

• $0.0001 — ange on which Registered Common Stock, $0.0001 par value BNGO The Nasdaq Stock Market,
• $6.10 — rant's common stock on June 30, 2023 of $6.10 per share, as reported by the Nasdaq Ca

Filing Documents

• bngo-20231231.htm (10-K) — 2402KB
• bngo-ex41x20231231.htm (EX-4.1) — 5KB
• bngo-ex45x20231231.htm (EX-4.5) — 25KB
• bngo-ex221x20231231.htm (EX-22.1) — 3KB
• exhibit231-bdoauditorconse.htm (EX-23.1) — 2KB
• bngo-ex311x20231231.htm (EX-31.1) — 10KB
• bngo-ex312x20231231.htm (EX-31.2) — 10KB
• bngo-ex321x20231231.htm (EX-32.1) — 7KB
• bngo-ex322x20231231.htm (EX-32.2) — 7KB
• bngo-ex971x20231231.htm (EX-97.1) — 43KB
• bngo-20231231_g1.jpg (GRAPHIC) — 278KB
• bngo-20231231_g2.jpg (GRAPHIC) — 9KB
• bngo-20231231_g3.jpg (GRAPHIC) — 3KB
• bngo-20231231_g4.jpg (GRAPHIC) — 22KB
• bngo-20231231_g5.jpg (GRAPHIC) — 7KB
• bngo-20231231_g6.jpg (GRAPHIC) — 6KB
• bngo-20231231_g7.jpg (GRAPHIC) — 9KB
• image_0.jpg (GRAPHIC) — 498KB
• image_1.jpg (GRAPHIC) — 0KB
• image_2.jpg (GRAPHIC) — 80KB
• 0001411690-24-000013.txt (&nbsp;) — 14142KB
• bngo-20231231.xsd (EX-101.SCH) — 83KB
• bngo-20231231_cal.xml (EX-101.CAL) — 150KB
• bngo-20231231_def.xml (EX-101.DEF) — 450KB
• bngo-20231231_lab.xml (EX-101.LAB) — 1059KB
• bngo-20231231_pre.xml (EX-101.PRE) — 773KB
• bngo-20231231_htm.xml (XML) — 1773KB

Business

Business 8 Item 1A.

Risk Factors

Risk Factors 29 Item 1B. Unresolved Staff Comments 69 Item 1C. Cybersecurity 70 Item 2.

Properties

Properties 72 Item 3.

Legal Proceedings

Legal Proceedings 72 Item 4. Mine Safety Disclosures 72 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 72 Item 6. [Reserved] 72 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 72 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 83 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 84 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 125 Item 9A.

Controls and Procedures

Controls and Procedures 125 Item 9B. Other Information 125

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 125 PART III Item 10. Directors, Executive Officers and Corporate Governance 126 Item 11.

Executive Compensation

Executive Compensation 126 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 126 Item 13. Certain Relationships and Related Transactions, and Director Independence 126 Item 14. Principal Accountant Fees and Services 126 PART IV Item 15. Exhibit and Financial Statement Schedules 126 Item 16. Form 10-K Summary 131

Signatures

Signatures 131 3 Table of Contents As used in this Form 10-K, "Bionano," the "Company," "we," "our," and "us" refer to Bionano Genomics, Inc. and its subsidiaries or, as the context may require, Bionano Genomics, Inc. only. "Lineagen" (doing business as "Bionano Laboratories"), "BioDiscovery" and "Purigen" refer to our wholly owned subsidiaries, Lineagen, Inc., BioDiscovery, LLC and Purigen Biosystems, Inc., respectively. Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (this "Annual Report") contains forward-looking statements and information within the meaning of the safe harbor provisions for the U.S. Private Securities Litigation Reform Act of 1955. All statements other than statements of historical facts contained in this Annual Report, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will" or "would" or the negative of these words or other similar terms or expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, including risks described in the section entitled "Risk Factors" and elsewhere in this Annual Report, regarding, among other things: the size and growth potential of the markets for our products, and our ability to serve those markets; the rate and degree of market acceptance of our products; our ability

BUSINESS

ITEM 1. BUSINESS Overview We are a global genomics company focused on elevating the health and wellness of all people. We are pioneers of optical genome mapping ("OGM") for genome analysis and provide a suite of genome analysis solutions designed to enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. Our mission is to transform the way the world sees the genome. Through our OGM solutions, our nucleic acid isolation and purification solutions, our genomic analysis and interpretation software, and our clinical testing and laboratory services, we believe that we have a suite of products that will drive new discoveries, elevate health and wellness, and increase our understanding of the genome in transformative ways. We market and sell OGM systems, including the Saphyr system and the Stratys system, which deliver OGM data to enable ultra-sensitive and ultra-specific detection of all classes of structural variation ("SV"). These systems are used to identify structural changes in chromosomes, the study of which is known as cytogenetics, and to accelerate the search for answers in genetic disease and cancer applications as well as in applications for cell and gene therapy. The systems are comprised of an instrument, chip consumables, reagents and software containing a suite of data analysis and visualization tools. OGM has been shown to outperform the current gold standard cytogenetic methods including karyotyping, fluorescence in-situ hybridization ("FISH"), Southern blot and chromosomal microarray ("CMA"), for the detection of SVs. OGM has also been shown to identify structural changes in chromosomes that cannot be identified using current commercially available gene sequencing solutions. We market and sell the Ionic Purification system, which is able to deliver high quality DNA in a more natural, native form and with fewer contaminants when compared to other isolation and purifications solutions. The Ionic Purificatio

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View this 10-K filing on SEC EDGAR