Bionano Genomics (BNGO) shares plummeted 5.32% in Wednesday's trading session following the release of the company's first quarter 2025 financial results and full-year revenue outlook. The genomics company's performance and guidance appear to have disappointed investors, leading to the significant stock decline.

For the first quarter of 2025, Bionano reported revenue of $6.5 million, with a gross margin of 46%. The company's operating expenses reached $11.4 million, while adjusted operating expenses stood at $8.5 million. Despite maintaining a steady gross margin, the high operating expenses relative to revenue likely raised concerns among investors about the company's path to profitability.

Adding to the market's bearish reaction, Bionano provided a full-year 2025 revenue outlook of $26-30 million. This guidance may have fallen short of investor expectations, potentially suggesting slower growth or market challenges ahead for the company. The combination of current financial performance and future outlook appears to have prompted a sell-off, resulting in the sharp decline in Bionano's stock price.