Bionano Genomics, Inc. (BNGO) Presents at Canaccord Genuity 43rd Annual Growth Conference (Transcript)

Bionano Genomics, Inc. (NASDAQ:BNGO) Canaccord Genuity 43rd Annual Growth Conference August 10, 2023 11:30 AM ET

Company Participants

Erik Holmlin - President and Chief Executive Officer

Conference Call Participants

Kyle Mikson - Canaccord Genuity

Kyle Mikson

Welcome to the Canaccord Genuity Global Growth Conference. I'm Kyle Mikson of Life Science Tools and Diagnostics for Canaccord. Pleased to have Bionano Genomics here. Bionano offers one of the leading platforms for optical genome mapping. With us from the company, we have Erik Holmlin Eric, the CEO. Thanks, Eric, for joining us this hour.

Erik Holmlin

Thank you very much.

Kyle Mikson

So let's actually just go through maybe the earnings last night that you guys reported, I think it was a pretty solid quarter with regard to guidance. But what happened during the second quarter were some macro issues possibly. What did you guys say?

Erik Holmlin

Well, it was an excellent quarter for us. So, $8.7 million in top line revenues, margin around 29%, which has been stabilizing over a period of the last few quarters and improving. And we saw outstanding performance in all of our regions, and something that was really attractive for us was the interest that we saw from pharma in bringing optical genome mapping in where they're using it to focus on cell and gene therapy. And so that really kind of augments our overall market segment focus to go from genetic diseases, hematologic malignancies, and now cell and gene therapy. We're also focusing on solid tumor, but the applications in solid tumor where samples are mostly FFPE, we focus on fresh tissue applications in solid tumor.

Kyle Mikson

Okay. When you say like the pharma segment was kind of strong, I mean, what has that been like the past few years in biopharma?

Erik Holmlin