Shares of Bionano Genomics (BNGO) plunged 8.13% in intraday trading on Thursday following the release of the company's third-quarter financial results and full-year outlook. The significant drop suggests that the reported figures fell short of investor expectations, raising concerns about the company's financial health and growth prospects.

Bionano Genomics reported Q3 revenue of $7.4 million, with a gross margin of 46%. However, the company's operating expenses for the quarter stood at $11.9 million, with adjusted operating expenses at $9.7 million. These figures indicate that Bionano Genomics continues to operate at a loss, which likely contributed to the negative market reaction.

Adding to investor concerns, the company provided a full-year revenue outlook of $26-30 million. This guidance may have been perceived as conservative or disappointing by market participants, further pressuring the stock. The substantial gap between the company's current quarterly revenue and its annual forecast suggests that Bionano Genomics faces significant challenges in accelerating its growth and achieving profitability in the near term.