Shares of Bionano Genomics (BNGO) plummeted 5.32% in intraday trading following the release of the company's first-quarter 2025 financial results and full-year revenue guidance. The sharp decline suggests that investors were not impressed with the company's performance and future prospects.

Bionano reported Q1 revenue of $6.5 million, with a gross margin of 46%. However, the company's operating expenses remained high at $11.4 million, with adjusted operating expenses of $8.5 million. These figures indicate that Bionano is still struggling to achieve profitability, which likely contributed to the negative market reaction.

Adding to investor concerns, Bionano provided a full-year 2025 revenue outlook of $26-30 million. This guidance may have fallen short of market expectations, potentially signaling slower growth than anticipated. The combination of high operating expenses and a possibly conservative revenue forecast appears to have shaken investor confidence, leading to the significant drop in stock price.