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Bionano (BNGO) to Report Q1 Earnings: What's in the Cards?

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Bionano Genomics, Inc. (BNGO - Free Report) is scheduled to report its first-quarter results on May 13.

The company’s earnings surprise record has been disappointing so far, with its earnings missing estimates in two of the trailing four quarters and matching the same on the other two occasions, the average negative earnings surprise being 17.42%. In the last-reported quarter, Bionano Genomics’ earnings surprise was in-line with estimates.

Shares of Bionano Genomics have rallied 75.6% so far this year against the industry's decline of 5%.

price chart for BNGO

Factors to Note

Bionano is a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system – a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and streamline the study of changes in chromosomes, which is known as cytogenetics. The Saphyr system comprises of an instrument, chip consumables, reagents and a suite of data analysis tools.

The company generates product revenues from the sale of its instruments and consumables. It currently sells its products for research-use-only applications. Bionano also generates service revenues from the sale of diagnostic testing services for those affected with autism spectrum disorder and other neuro developmental disabilities through its wholly-owned subsidiary, Lineagen. Consumable revenues consist of sales of complete assays, which are developed internally, along with sales of kits that contain all elements necessary to run tests.

In the last reported quarter, total revenues increased year over year, a trend most likely to have continued in the to-be-reported quarter.

Bionano Genomics executed a commercialization strategy by expanding the utilization of its Saphyr system and increasing the amount of Bionano data generated worldwide. The company remains focused on its long-term vision to disrupt genomics through the global adoption of Saphyr, which has demonstrated its expanded capabilities beyond standard cytogenetics and traditional diagnostics. Investors will be keen to get more updates on the same at the upcoming earnings call.

Operating expenses also grew year over year in the last reported quarter due to an increase in salary expenses and transaction costs associated with the Lineagen acquisition. Expenses are most likely to have been higher in the quarter under review.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for Bionano Genomics this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

Earnings ESP: Bionano Genomics’ Earnings ESP is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of 5 cents per share.

Zacks Rank: Bionano Genomics currently carries a Zacks Rank #3.

Stocks to Consider

Here are a few stocks you may want to consider, as our model shows that these have the right combination to deliver an earnings beat.

ADMA Biologics Inc (ADMA - Free Report) with an Earnings ESP of +10.00% and a Zacks Rank #3. The company is scheduled to report earnings on May 12.

AVROBIO, Inc. (AVRO - Free Report) with an Earnings ESP of +1.44% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cyclacel Pharmaceuticals, Inc. (CYCC - Free Report) with an Earnings ESP of +11.11% and a Zacks Rank #3. The company is scheduled to report earnings on May 12.

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