Investment Thesis
Bionano Genomics faces fundamental deterioration with declining revenue (-7.4% YoY) alongside severe unprofitability (-124.2% net margin) and significant cash burn (-$6.1M FCF). With only $3.4M in cash and negative operating cash flow of -$5.7M annually, the company has approximately 7 months of runway at current burn rates, creating existential risk despite zero debt.
Strengths
- No long-term debt provides financial flexibility
- Current ratio of 1.84x indicates adequate near-term liquidity position
- Loss magnitude improving year-over-year (net income +76.4% improvement from negative base)
Risks
- Revenue declining 7.4% YoY while operating at massive loss—suggests inability to achieve scale or market traction
- Negative free cash flow of -$6.1M with only $3.4M cash available creates critical runway risk (approximately 7 months at current burn)
- Operating margin of -118% on $6.7M revenue indicates unsustainable unit economics and severe cost structure misalignment
- Capital expenditure continues ($344K) despite negative cash generation, draining limited cash reserves
Key Metrics to Watch
- Revenue growth inflection—currently declining; must stabilize and grow to extend runway
- Operating cash flow path to breakeven
- Cash burn rate and remaining cash runway
Financial Metrics
Revenue
6.7M
Net Income
-8.3M
EPS (Diluted)
$-0.76
Free Cash Flow
-6.1M
Total Assets
64.8M
Cash
3.4M
Profitability Ratios
Gross Margin
N/A
Operating Margin
-118.1%
Net Margin
-124.2%
ROE
-22.2%
ROA
-12.8%
FCF Margin
-90.6%
Balance Sheet & Liquidity
Current Ratio
1.84x
Quick Ratio
1.47x
Debt/Equity
0.00x
Debt/Assets
42.2%
Interest Coverage
-64.73x
Long-term Debt
0.0
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-05-15T08:47:52.775094 |
Data as of: 2026-03-31 |
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