Bionano Genomics, Inc.

Good day, and welcome to the Bionano Genomics Second Quarter 2022 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Amy Conrad from Investor Relations. Please go ahead.

Thank you, Victor, and good afternoon, everyone. Welcome to the Bionano Genomics Second Quarter 2022 Earnings Conference Call. Leading the call today is Dr. Eric Holman, the CEO of Bionano Genomics. He is joined by . After market closed today, BioNano issued a press release announcing its financial results for the second quarter of 2022. A copy of the press release can be found on the investor relations page of the company's website. I would like to remind everyone that certain statements made during this conference call may be forward-looking, including . Anticipated milestones for 2022, including progress on Elevate and each pillar of Elevate, advantages of the SAFAR system over current technologies, and BioNano's expectations regarding study results and anticipated benefits of these studies in driving adoption of OGM. Such forward-looking statements are based upon current expectations, and there can be no assurances that the results contemplated in these statements will be realized. Actual results may differ materially from such statements due to a number of factors and risks, some of which are identified in BioNano's press release and BioNano's reports filed with the SEC. These forward-looking statements are based on information available to BioNano today, and the company assumes no obligation to update statements as circumstances change. In addition, to supplement BioNano's financial results reported in accordance with U.S. Generally Accepted Accounting Principles, or GAAP, the company is reporting non-GAAP operating expense. This non-GAAP financial measure is not meant to be considered in isolation or as a substitute for comparable GAAP measures. It should be read in conjunction with the company's consolidated financial statements prepared in accordance with GAAP, has no standardized meaning prescribed by GAAP, and is not prepared under any comprehensive set of accounting rules or principles. A description of non-GAAP operating expense and reconciliation of non-GAAP operating expense to GAAP operating expense are included at the end of the company's earnings release issued earlier today, which has been posted on the IR page of the company's website. and audio recording and webcast replay for today's conference call will also be online on the company's investor relations page. With that, I will turn the call over to Eric.

Thanks, Amy, and thanks, everyone, for joining the call today. We had an outstanding second quarter, and Chris and I are excited to talk to you about our key results and analysis for the quarter, and we also want to continue the deeper discussion of our growth strategy, Elevate, which we began on our last call. But first, I would like to talk about what we view as an absolutely spectacular publication on optical genome mapping, or OGM, which appeared in the peer-reviewed journal Leukemia on Monday. It describes a study that was conducted by leading oncologists and heme pathologists in which they used optical genome mapping and next-generation sequencing, or NGS, to determine the complete array of single nucleotide variants and structural variants for 101 subjects that had been diagnosed with myelodysplastic syndrome, or MDS, which is a hematologic malignancy that affects blood cell production. Now, the results show that when optical genome mapping was used instead of karyotyping, that 28% of the subjects in the study had either a different prognostic risk score or additional structural variations that were not found by karyotyping or both. And when the results of an 81-gene NGS panel and those of optical genome mapping were combined, the findings indicated that at least one clinically significant clonal abnormality was found in 97 out of the 101 subjects. This research demonstrates that among the modalities tested, optical genome mapping and next-generation sequencing taken together provide the most comprehensive set of genome variants for MDS analysis in this study and therefore suggest the potential for for a new standard in cytogenetic and molecular analysis for heme malignancies altogether. Now I'd like to talk a little bit about the second quarter results, and Chris will go into some more detail about them. Total revenue for the quarter was $6.7 million, which is another record for us and represents growth of 73% over the revenues from the second quarter in 2021. We sold 3,394 flow cells in the second quarter, which represents 24% growth over the second quarter of 2021. And we analyzed 373 samples in our laboratories, which represents 96% growth over Q2 2021. Finally, we ended the quarter with an installed base of 196 Sapphire systems, which represents 62% growth over the 121 systems installed at the end of the second quarter of 2021. Now, at this point, I'd like to turn the call over to Chris so he can go a little deeper into the financials for the second quarter. And after Chris's remarks, I'll discuss our growth strategy, Elevate, and provide some updates across its five strategic pillars. Chris?