Bionano Genomics Stock Fair Value – BIONANO GENOMICS Reports 29.8% Increase in Total Revenue for Q2 2023
August 15, 2023
☀️Earnings Overview
For the quarter ending June 30 2023, BIONANO GENOMICS ($NASDAQ:BNGO) reported total revenue of USD 8.7 million, a year-on-year increase of 29.8%. Their net income for the period was USD -38.9 million, representing a decrease from the -32.2 million recorded in the same quarter of the previous year.
Analysis – Bionano Genomics Stock Fair Value
GoodWhale has conducted an analysis of BIONANO GENOMICS‘s financials and concluded that the intrinsic value of BIONANO GENOMICS’ share is around $47.9, as calculated by our proprietary Valuation Line. This means that BIONANO GENOMICS’ stock is currently traded at a price of $4.2, which is undervalued by 91.2%. This presents a great opportunity for investors who are able to buy up low-priced stocks that are expected to appreciate in value in the near future. Moreover, our analysis shows that BIONANO GENOMICS has a strong balance sheet and low debt levels. This indicates that the company is well-positioned to weather any economic downturns, making it a good long-term investment for investors who want to benefit from the company’s steady growth. Additionally, BIONANO GENOMICS has been showing strong revenue growth and expanding its market share, indicating that it is likely to continue to experience success in the future. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bionano Genomics. More…
| Total Revenues | Net Income | Net Margin |
| 31.51 | -146.52 | -465.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bionano Genomics. More…
| Operations | Investing | Financing |
| -133.1 | 65.67 | 55.54 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bionano Genomics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 271.38 | 56.62 | 6.46 |
Key Ratios Snapshot
Some of the financial key ratios for Bionano Genomics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 55.3% | – | -458.0% |
| FCF Margin | ROE | ROA |
| -431.0% | -40.4% | -33.2% |
Peers
Bionano Genomics Inc is a company that specializes in the development of nanotechnology for genomic analysis. The company’s main competitors are SeqLL Inc, HTG Molecular Diagnostics Inc, and Precipio Inc. All of these companies are working to develop their own nanotechnology platforms for genomic analysis. Bionano Genomics Inc has a strong focus on developing its technology for the detection of structural variations in the genome. The company’s competitors are also working on developing their own technologies for detecting structural variations in the genome.
– SeqLL Inc ($NASDAQ:SQL)
SeqLL Inc is a biotechnology company that focuses on the development and commercialization of sequencing products and services. It has a market cap of 6.94M as of 2022 and a return on equity of -35.23%. The company has been struggling financially in recent years, which has caused its stock price to decline.
– HTG Molecular Diagnostics Inc ($NASDAQ:HTGM)
HTG Molecular Diagnostics Inc is a molecular diagnostics company. The company develops and commercializes proprietary technologies for use in sample preparation and target enrichment for molecular testing. Its products include HTG EdgeSeq technology, a sample preparation and target enrichment platform for use in next generation sequencing; HTG EdgeSeq XL platform, a sample preparation platform for use in target enrichment and whole transcriptome sequencing; HTG EdgeSeq STAR platform, a sample preparation platform for use in target enrichment of DNA and RNA; and HTG EdgeSeq Chemistry, a target enrichment chemistry. The company sells its products through direct sales force, distributors, and original equipment manufacturers in the United States, Europe, Asia-Pacific, the Middle East, and Africa. HTG Molecular Diagnostics, Inc. was founded in 2008 and is headquartered in Tucson, Arizona.
– Precipio Inc ($NASDAQ:PRPO)
Precipio, Inc. is a biotechnology company, which engages in the provision of cancer diagnostics. It operates through the following segments: Clinical Lab Services and Technology Products. The Clinical Lab Services segment offers diagnostic testing services. The Technology Products segment provides CancerIQ, a proprietary precision oncology platform. The company was founded by Ilan Danieli, Shai Meretzki, and Oscar Bronner on December 16, 2002 and is headquartered in New Haven, CT.
Summary
BIONANO GENOMICS reported strong financials for the quarter ending June 30 2023, with total revenue increasing by 29.8% compared to the same quarter the previous year. Despite this, net income declined to USD -38.9 million from the previous year’s -32.2 million. Despite this, investor sentiment was positive as the stock price moved up the same day.
Therefore, it appears BIONANO GENOMICS is a good investment opportunity as their revenue and stock price have been increasing despite their net income decrease. Investors should keep an eye on BIONANO GENOMICS in the coming quarters to see if the company is able to continue its recent growth trends.
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