Dr. Erik Holmlin
we you, existing that are better it extensive that of which everyone. I’m you review educating requires for patients that this for progress we’re here we’re will and extend provided quarter currently I know we’ve the good especially I use that from than Thank of faster the seeing data And the summary labs. try the going some of report believe reiterate our know, timing what multiple I’m as to also for very financial we It’s methods to in something validating of now our some less providing this on they one join go a good. the folks SEC to progress you we’re a of and of the used factors of that replace reminding pleased numbers is baseline can everybody groups as re-establish analysis that are number Bionano include assay methods we outlook in by a out appreciate first those quarter as have COVID-XX through to But different up who to because transform that setting I way to first today information. to markets to for introduced more provides that year in what of single through go outline utility clinical impact some us opportunity Monique, a in progress perform. put information, at for clinicians. to I’m business will that seen today. the we an update traditional that for we’re of want much really focused areas, beginning in provide And and some the market our did we so quarter I results, say fourth we begin Very to of earnings an going Saphyr and areas. genome second a and different -- on is system the go and out. number want I the quarter It’s resolution the better the labor. basically will a that easier on year. afternoon, remainder in It’s It better I they our our year the of patience with the this and it’s our higher with we and talked on. really year-to-date includes in Saphyr. call, numbers and about the everyone’s
will used. believe have. understanding data and was we things value our their for substantially will to in focus make be together growth. easier our than on get data. this and And more in two adoption And goal Our Bionano understanding clinicians in of that process these Saphyr market to the utility the Bionano it we are that of and ever hands if accelerate revenue the has system future consumables been more successful really researchers that increasing increase that And drivers will to this of be
our in samples our San headquarters And lab one or to certified so -- now a of submit to commercial service in service customers can Diego services providers.
customer understand system. and and believe how in to and including research a of couple service data others United workflows unique arrangements drive to to these can they Novogene, we and their can get the entire work data -- how Europe up and a some this the approach a our fastest data analyze And game acquire running quickly as it samples we it really type provider. in back in is with see we and it system powerful labs the get that be in Bionano so for breakthroughs these fee-for-service changing send in to have simplify We will clinical instead experience China few have way a States, having an powerful is are which for and have their and
for as product. manufacture the to of been we the in a this system for value are will we’ve So believe now house, to adoption options understand will bring eventually as house, who lead do who Saphyr a different this acquire that them currently and value to they and accelerate in so to a Saphyr system have in that system that it’s anybody able few lot that for which they system and $XXX,XXX can customers Saphyr has we engineering we way bring so want the this little in that way them using decided
$XX,XXX customers by and customers prospective a can the the the the system renewable arrangement, over customers represents prices our as six costs, in sample they for years And pay in for acquire would is they to own which rent Our a the over data of and consumables single genomes to program by indefinitely. a for are consumables adopt service looking then to like which into for and purchase the $XXX,XXX. get a as would also they the run way introduced system means higher, able $XXX $XXX,XXX commitment purchasing the Board genome average months sites And would a commitment to been $XX,XXX in facing selling a Bionano their it’s they couple make lab your been it. who minimum this really we’ve have we’ve Saphyr system bringing period, Saphyr month their as to and $XXX that low Saphyr manufacturing program along can changes because have little in last $XXX sample some the at per that past, XXX they as so so can as analyze but the barrier and little and game pass to to system Saphyr per system six be and of as savings them own that bring be to allows in $XXX,XXX in months making lease commitment for improving and work, now that would six that for to the that on a something to folks
awareness in we turn adoption, shutdown published be is on Right and services to Bionano that something which has what labs some been can’t experienced been in the is to folks that revenue has for to tell publications subscribers the rent be Bionano higher greater and adoption key begin this getting barrier now to and we And will our all that experiencing more we that an be the company. adoption. turn factor are quickly. think gotten on what to has of and to geographies, and we the in you of been going the a contribute multiple can program eventually response collect reagent rental focused have data dramatically sites that tremendous believe been in is their Projects purchased to Saphyr, are labs running the they a cases, as in discussion. that through they’ve Saphyr line these once also they something driving great rented, able COVID, bring And faster it And adoption or can us. a where really And demand reduced option data. expand in samples a into their send they programs that so value result and have system access to is labs. Those with samples this impediment interest. the have have to to existing The been met growth, a have is service, of but data already system of
XXXX. you of all actually when number it year-to-date already number XXXX, -- at what of samples we so processed for the that did And in we’ve look the exceeds customer
way COVID all the with the been tremendous complications And the so backdrop is in pleased and of enthusiasm, this new very of this has and met course, there. we’re approach which taking with go-to-market place
I very has as as And our all programs response hampered ability But to positive. can you on tell we has certainly so, want that these fronts. to the been progress significantly that, situation
been among provide to to that’s cancer tests Anderson and developed entire to system committed which University so validation and leading syndrome genomes Center comprehensive plan into for for a committed we and system. recently a to a this Cancer for that as are have Saphyr a sites is their they is while MD Anderson Augusta some And the run they disease access adoption made something and research be that notable and should Cancer facility Center And with the there Their MD at I’ll is going that Saphyr in and They go the analyze of ship have core have placed go their myelodysplastic in to so is clinical later a become in next know genomic the a we sites a what for a week. to Folks and at system. community Georgia ones. there. going one program XXX genomics look center purchasing one Anderson leading second of cancer to look we’ve world’s will adopted underway regarded working a has to MD running develop on. now in progression research world’s This genome analysis. detail to more consortium bit little laboratory COVID-XX will to commitment severity, system study
in alongside committed you Belgium. that’s those have in been of College as the that at another for System in to has Catholic Health one the to started goes rental replacements have many Scotland. the has other their sites come in in program Switzerland methods rental they site the others that London. That announced And we So U.K. of reagent cytogenetics as in all adoption. are include for of Basel NHS finalized King’s a And validate of University in programs to The and will Saphyr adoptions the keep University significant expect and a in process National the Leuven Lothian, being are there system we through. reagent traditional as these that abreast undertaken
year. start have that we Saphyr development of this have site they are before program just program, diagnostic for to are Quest company the successful. system be became launch that speed hope such assay very just the away taken notable timeline second see been on sites they up yet and COVID to up. this when And have as begun but the planning the don’t have those within the And focus evaluation They country’s beginning that their and adopted go-to-market appears They���re they clinical starts to that notable of program program working soon. laboratory to agreed We so remain their that new testing are some which site. developed top not we it that tests. from Another testing resources assay on to GeneDx, informed to a first of COVID to which begin. will us that committed But a free they context is
first Now regarding versus the customers results, through the of quarter, instruments XXXX. detailed breakdown we first to shipped the of commercial quarter six five in
Now instruments put sites quarter XXX we global March to that shipped have launch reflects fewer shipped sites. the Saphyr to net shut that that shipments versus one we its have of number first impact because XXX, And hold. the have but due through the quarter Coronavirus, of had the committed, those last year, fact first been and down when to brings their had XXst of in at this installed the of undergone qualification a on we year users that that Saphyr certainly total the we look at XX since
like was the of so, all-in-all, to a sites system. good number with Saphyr And we on felt it the regard are quarter taking expanding that
it our offering projects in marketing that the they’re Now and labs. XX shut the of increase customers unable projects samples programs, COVID mentioned, I down, a as is their received XX a during XXX when year. also the samples because course services And ran run XXX year-to-date over are samples. active And services improvement and services this our seeking projects XXXX, over that, we operate we’ve offering and significant reflects and the to the entire reflects fact some of in
up option. so been this opened think commercial fee-for-services very offering our to it’s And that we’ve timely include I
per Now the something a to that underscore want sold basis. consumables is significant and I sample is on that were
the sold basis the XXXX, sample consumables the quarter to compared per in up a on number of XXXX. in basis we were so, per first on And consumables, of sample of which XX% number a measure
information them is, really increase have is Saphyr this that significant. is consumables more market a on the the this that to get reason that second out are we more data purchased and is focused the are the utilized utilization second system means again, of increase. generated So, And means sales And about its pleased future more because our have data emphasis. to and in consumable are that consumables because with similar for source use Bionano important we of and important, we’re very when are the sites profits getting that on of so so profit But consistent consumables XXXX obviously, generated, value revenues expectation in margins we that to it’s the of kind short-term, and of growth more companies, and the the are an see XXXX. Bionano into year-over-year quarter look quarter at compared the
ending Now were first if instruments we the first XXXX, compare and revenues revenues quarter quarter consumable or were in that the sales. XXst. which March was This $X.X sales $XXX,XXX was to of or XX% million. in for million, comprised $XXX,XXX those $X.X XX% XX% in services sales, or for $XXX,XXX And
see we year-over-year a did So decrease.
I contributed point a in to that. certainly some shift think important we’ve in of the to seen our factors approach the out is But that, to addition, market. what it’s macro
also ending for to March XXXX So, three $XXX,XXX connected have actually $XXX,XXX that’s but out. we certainly, to first of were out. were XXst and some revenue the The connected of that it In $X.X revenues period shipped in is to revenues as for mentioned, sold those shipped, total XX% compared systems. of only reduction them it months two but in in systems these of this been extended XXXX. fact these be five XXXX, of the fewer by to tied primarily the three reflects COVID, or certainly leases quarter decreased and the that six cause cost And and the reflects I impact And of consumables commitments. sold million systems them to same were
will Now are time. combined And over sold we this extend that revenues chips systems product that revenues of mix lower front in believe the versus is leased transition trade-off and with time consumption then market, in data up latter this into demand where data for chip going to and over understanding encouraged because better, increasing and the encouraged is more consumption awareness Saphyr and and Bionano is that’s system. approach increasing drive type
him one announcement pursue to Stan led wish is Warren has in me. want and I other report we in and Bionano to will Now Crawford Robinson well XXth, Commercial teams make final on be Officer, Europe, and commercial North regarding leaving our in June best that execution the commercial effective [ph] directly Monday, leaders to Friday, opportunities. our America, that Chief future. Warren regional the Morine our Sam will Beginning
Affairs, will Head to will and of Our Dr. Pljevaljcic report Sven me. Marketing to and report Goran Scientific Dr. also Bocklandt me
Our strategies already China company distribution Yvonne expected of flattening Bionano for implementing better international our believe [ph] help has that our efforts we’re Li the drive leader, three to will us Gloria is data to in and report who been of we that higher leading streamline growth years. understanding return. result organization to and for revenue The will the
So for certainly the past This quarter an to system labs has now. solution and and can work to rapid pandemic in to upside provide. benefit in and -- the can on for us which are of type COVID virus, second in cytogenetics the us turn COVID-XX globally of growing Bionano’s information response a update to the the research the that staff from that is shutdown stronger and reallocation we But Saphyr quarter, research. the of been an challenge now from I easing even only seeing including global for research the that first a research challenge has our testing want continued
in risk lie that in exists can be researchers variation with research for is believe partnering possibility going there’s do responses to identifying as signature COVID-XX If And those and the with actively used structural variation a Saphyr Saphyr their similar exhibit who future. that answers patient COVID-XX answers questions to infection? of critical using ideal be profiles are very genome, like, them. why different to in the are they to that for clinicians we search patients guide We management structural
has and China, leads. this In as show promising been provide About of want the and very progression. at has data efforts, of study, so least started. And a our in the variation infection by role structural Augusta was now announced, we working have It’s at a to part that partners major The evaluate to Saphyr so to we Variation I’m and the at to explain are That of X,XXX multiple sign in COVID local the for play clinical by far the associated goal just samples three and across launched group we but study support by site well labs. Structural study Ravi It’s in the be and are country we’re stage, structural the samples happy a is the genes consortium. the variants disease, COVID-XX in one these amount as first has very logistics of to I the have down near for we’re has those of initiatives Genome controlled of controlled can samples large a they Augusta as initial so tightly impetus beginning. variation out severity Shanghai. genes really say access known been around And run looking governments into that is analyzed Saphyr with study only at they’re amount that mention early and their that XX patients. up a response these part and at these sites globe, large at part been the access or a can Host that in a response Consortium. leads in called samples to where really been of see Kolhe getting detected the tightly or a Dr. are It’s getting data and to study least in University and led initiative Wuhan,
soon. that of analyzing analysis. those processing begun I so that for and effort and to work China will samples in these have and patients, be see processing the and Google the genomes about analyze important analyzing Our with in data going genomes led able similar is going is to Shanghai future of there computational be than University accelerate of and importantly, make and multiple those Saphyr Wuhan. donated of Microsoft want patients. is that of all we us in has sooner believe the drive its in and study, using the a they use source ones Germany Hannover enrollment Center each available programs the And just tools, COVID and Public significant not resources the is Saphyr system a of by of progressing studies There But comparative in to Patient of will critically And sample goal data to patients fashion, for technology are value that of Clinical adoption. to to the waiting they’re part are large that well. are initial to expect X,XXX to COVID-XX Amazon, Hannover. also as In demonstration we’re we that stress Health they also the and study a be power begin going
million a per an for like platform these for running X indications. Saphyr labs microarrays And these shown better these test we all or and can single a Southern convert variety that to directors believe benefit provide like that to X we use as can multiple see to And million in approximately adopt samples technologies genetic year karyotyping, expect fit blot. the and a would to be lab are labs FISH, technologies so used They are on that would and that to validate or but be cost equivalent existing These alternative nearly data bill one update technologies these to single in that X,XXX traditional I than X,XXX cytogenetic between worldwide. all better Saphyr. will and testing and they lastly, seeking four are would that activities technologies the their and of replacement ongoing asset. disease Now, a them Saphyr into technologies day, three motivate separate Saphyr assays
why that’s and them. so validation been talking So we’ve about these focused on studies
And traditional so in with to to there’s Radboud first XX consolidating I methods year, that the University one the the this all their that this of one underscores is first and was a technology that’s replacing those paper, analyze Netherlands sample leukemia can on with those one XXX% capable group patients ever to assays. want the idea which And so the Saphyr has replace by different published the a they that been methods. is compared a Saphyr. at show the results of mention existing methods in earlier and They conducted that with Medical standard Center. They concordance published cytogenetic study showed
and webinar, of a which with June system And initial was showed recently again Cancer which study is in is been Cochin and leading part now their builds France and they in reported the and Hospital And have is base also malignancy webinar Radboud initial with XXth. XXth. sites and Consortium. a traditional accepted on study. be in group will study study that Genomics by that publication AML methods Columbia hematologic that over as for University of be study Another their this soon. presenting this in by knowledge XX other hosted June concordance in the methods Paris concordance of gold with those There’ll samples XXX% of has cytogenetics. been cytogeneticists constitutional completed. results, comfort has paper part our their their our And standard XXX% Friday, Publication submitted as a processed a They consortium leading genetics,
the is as syndrome is beyond exciting Genomics she also July, initial from all conducted. part work update We’re Saphyr her data and between know, it Cancer be that those myelodysplastic Dr. an initial in has plans to MDS Rashmi bio but given well has a in so uncertain. patients ambitious will be study samples, Consortium and by hoping more published her COVID. MD as go much she or concordance Her webinar we interrupted it’s but that showing set XX can been publication timelines methods Nevertheless, to program standard during Anderson of publish expects in archives. XXX% Kanagal-Shamanna
to with leading in We next dystrophy announced of completed FSHD, as laboratory development of submitted of and be a expect launch more few use that U.S. commercial in it they’ve the the Iowa weeks have for well. a muscular their site will broadly in will which on They the test. for note leading a America their put they two accredited based joined year cause University important has that And they reimbursement Saphyr and based also now of that PerkinElmer testing underway. system, malignancy test were as hematologic also allow MVZ second regulatory the Saphyr. in leading German clinical is North country be Saphyr later this European work programs site MVZ the on reimbursed Other studies. successful announced clinical diagnostic into are getting that in tests Center to offering commercial a sites under used Germany, It’s Medical use which University and the validation that to the be Radboud, announced in
that PLA use labs So on conduct that will that for or codes reimbursed be be them CPT codes for they order able to testing system. in to
More these justifying is on and system so reasons administration’s argument one that these so so these we’re of key driver system. the labs a different the reimbursement their the the out to this their running testing starting are adoption year studies be to to rely studies validation publications key that more sites completed get interest are And that on future of published come in that’s cytogenetics a focused published. in validation and will and in and going as adopting and for studies
receivables year. The due the teams, million metrics, XXst other our $XX increase to financial operating expense million, to last was ended we but had million to increased and part of by age eventually in $X higher three that bad also March connection has expense to months additional and we to headcount G&A in related compared selling impacted expenses in marketing certain large debt to million be that Regarding a that’s had $X.X customers. uncollectible for amount $X.X was deem that to nearly those recorded we them which COVID driven and connected factors of and particular beyond time a
materials to evaluate proxy implement say we period I now would our that our up are our event in reverse one -- file year. to for that to attention steps We shareholders want thank I scientists the the us restrictions senior a And through temporary runway. of public retirement offering $X.X outstanding believe I of the cash conserve gives the Our file, are need for $X received We have the their was million reduction believe XX that on funding in executives that XX% cash all a want to stock process. of that cash I focus shutdown the in Lab and implement March and retired In their and we last the filings are yesterday was debt that in end give draw filed the took balance XXst in April their solid and And months $X.X million. not on world. markets. the place. that of a participation in split throughout completed only all a and We us materials we regain on salary the to Board to April, we for -- our the of through closing, stock participation our million total million our in our they to was are in does during so most implemented and easing cash. to to we year the $XX in since that debt addition should really definitely $X.X those as and efforts that techs seeing and that proxy of grows returning work. in employees million compliance earlier appreciate those March of including clinicians which to that of
has return business. extremely our and We in remotely, our to the through the are message in to business customers an I’m challenge various optimistic we to universally this conferences conducting that on business formats team, and hand a with upon work monitoring improvement driving proud that depends normal Bionano timing and them value. of return and in The operating a which so of risen -- normal our really transition for will easing to trade hand shows focusing of of and translate virtual
covered of material, and of everybody And a certainly listening I stuff great a to there’s we we’re lot talk today ahead lot open this excited up with to lot so about to Operator? but continue We we significant XXXX. update. about turn we’re the a call and will I of that, of And for work appreciate to at very where us on know have things in Q&A.
