Bionano Genomics, Inc.

Good day, and welcome to the BioNano Genomics Third 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, ma'am.

Thank you, Cynthia, and good afternoon, everyone. Welcome to the BioNano Genomics Third Quarter 2022 Financial Results Conference Call. Leading the call today is Dr. Eric Holman, CEO of BioNano. He is joined by Chris Stewart, CFO of BioNano. After market closed today, BioNano issued a press release announcing its financial results for the third quarter of 2022. A copy of the 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 statements about BioNano's revenue outlook, strategic and commercialization plans, anticipated benefits or improvements to BioNano's products, including the Sapphire system and NX clinical software, anticipated milestones for 2022, including progress on Elevate and each pillar of Elevate, the advantages of the SAFAR system over current technologies, and Binance expectations regarding study results and anticipated benefits of these studies and their ability to drive 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, 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 made available online on the company's IR page. With that, I will turn the call over to Eric. Eric?

Thank you, Amy, and thank you, everyone, for joining the call today. We had another outstanding quarter, third quarter for 2022, and Chris and I are excited to provide you with key results and an overview of the quarter, as well as to give you an update on our growth strategy, Elevate, And we want to take this opportunity to also talk to you a little bit more about the market areas where we see the highest potential for the adoption of optical genome mapping. Now turning to our third quarter results, total revenue was $7.2 million for the quarter, which represents another record revenue for the company and an increase of 55% over the third quarter in 2021. We've seen revenue growth compared to the same time last year across APAC, Europe, Middle East, Africa, and Americas, and so we're very pleased with this progress. We sold 3,975 flow cells in the quarter, which is a record for the number of flow cells sold in any quarter in the company's history, and that represents a 17% sequential increase over the second quarter of this year. And it's comparable to the 3,969 flow cells we sold a year ago in 2021. We analyzed 369 samples in our laboratories, which represents 19% growth over the third quarter in 2021. And we ended the quarter with an installed base of 217 SAFIRE systems which is growth of 54% over the 141 systems installed at the end of the third quarter in 2021, and an 11% sequential increase over the second quarter of this year. Another area where we saw significant progress was in BioNano Laboratories, which officially launched this quarter. BioNano Labs is a new organization that combines our optical genome mapping data services with the clinical testing services that were previously known as Lineagen. We've also launched the first optical genome-based, mapping-based laboratory-developed test out of BioNano Labs, and we received CLIA certification for the San Diego lab. Now, this certification is important because it enables BioNano laboratories to offer services to customers who seek to implement optical genome mapping into their clinical routines and for research applications with hospitals, pharmaceutical companies, and other groups that require a more robust regulatory structure for their projects. 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 quarter. After Chris's remarks, I will provide updates to the five strategic pillars in the growth strategy and then discuss the market potential we see for optical genome mapping in key areas, including cytogenomics, discovery research, and something we haven't been talking a lot about but is really exciting called cell bioprocessing QC. Chris?