Operator

Good day, and welcome to the Bionano Fourth Quarter and Full Year 2025 Earnings Conference Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Webb Campbell from Gilmartin Group. Please go ahead.

Unknown Attendee

Thank you, Carmen, and good afternoon, everyone. Welcome to Bionano’s Fourth Quarter and Full Year 2025 Financial Results Conference Call. On the call today is Dr. Erik Holmlin, CEO and Principal Financial Officer of Bionano and Mark Adamchak, Bionano’s Vice President of Accounting and Principal Accounting Officer.

After market closed today, Bionano issued a press release announcing its financial results for the fourth quarter and full year 2025. A copy of the press release can be found on the Investor Relations page of the company’s websites.

Certain statements made during this conference call may be forward-looking statements. Actual results may differ materially from such statements due to several factors and risks, some of which are identified in Bionano’s press release and Bionano’s report filed with the SEC.

These forward-looking statements are based on information available to Bionano today, March 23, 2026, and the company assumes no obligation to update statements as circumstances change. During our call, we may reference certain non-GAAP financial measures, which we believe provide useful information for investors. Reconciliations of these measures to GAAP can be found in our press release and slide deck. An audio recording and webcast replay of today’s conference call will also be available online on the Investor Relations page of the company’s website.

A Business Built on a Simple IdeaSome businesses grow by chasing trends. Others grow by staying focused on one clear idea.Omaha Beef and Seafood belongs to the second group.The Fremont, Nebraska–based company has spent decades building a national presence in the protein wholesale market. Today it operates in major regions like the Northeast and the Pacific Northwest. But the company’s path began with a straightforward goal.“We believed that if you focus on quality and treat customers well, the business will grow naturally,” the founders say.That belief shaped every decision that followed.The founders did not set out to create a complicated system. They wanted to build a company that delivered consistent products and dependable service.“Our philosophy was simple,” they explain. “Let the product speak for itself.”

Early Career Lessons From Hospitality

Before launching Omaha Beef and Seafood, the founders worked in hospitality.That experience shaped how they approached business.In hospitality, success depends on how people feel about the service they receive. A meal is not just about food. It is about trust and experience.“Hospitality teaches you something quickly,” they say. “Your job is to make the client happy.”Those early lessons carried into the company’s culture.The founders understood that a food company cannot rely only on product. The relationship with the customer matters just as much.“We always looked at it from the customer’s perspective,” they say. “If we were buying this product, what would we expect?”That mindset became the foundation for Omaha Beef and Seafood’s long-term growth.

Why Omaha Beef and Seafood Focused on Quality

One of the company’s earliest big ideas was to focus heavily on product quality.The founders believed that strong standards would create lasting trust.“We decided early that we would only distribute beef that met the standards we believed in,” they say.That meant sourcing, cutting, and packaging steaks in the United States.“When it comes to beef, we believe American-made matters,” they explain. “We wanted customers to know exactly where their product came from.”Another important decision was aging the beef.Omaha Beef and Seafood distributes USDA-inspected beef aged for 28 days. The aging process improves flavor and tenderness.“Twenty-eight days gives the beef time to develop,” the founders say. “That’s when the texture and taste really reach their best point.”Over time, these choices helped shape the company’s reputation.Consistency became part of the brand.

Building a National Wholesale Business

Growth did not happen overnight.Like many long-running businesses, Omaha Beef and Seafood expanded gradually.The company began building strong customer relationships in regional markets. Over time, those relationships helped open doors in larger territories.Today, the company operates in major markets across the Northeast and the Pacific Northwest.Even with that reach, the founders kept the structure of the company simple.Omaha Beef and Seafood remains owner-operated, with the founders still involved in the day-to-day business.“We never wanted to lose the hands-on approach,” they say. “If you stay close to the operation, you stay close to the customer.”That level of involvement helped maintain the standards the company was built on.

A Different Approach to Marketing

One of the more unusual aspects of Omaha Beef and Seafood is what the company does not do.There are no membership fees.Customers are not placed into recurring contracts.And the company avoids large-scale marketing campaigns.“We don’t lock clients into subscriptions,” the founders say. “People should buy because they want the product.”The founders also made a deliberate decision to avoid aggressive outreach strategies.“We’re not going to bombard people with emails or mass mailings,” they explain.Instead, the company relies on reputation.“We believe if the product is good and the service is solid, people will tell their friends.”That word-of-mouth approach has been a steady driver of growth.

Standing Behind the Product

Another idea that shaped the business was accountability.Omaha Beef and Seafood offers a one-year product guarantee that covers taste, tenderness, and freezer burn.If a product does not meet expectations, the company replaces unused items.“We believe in standing behind what we sell,” the founders say. “If something isn’t right, we want to make it right.”The founders view this policy as part of the company’s culture.“When you believe in your product, you shouldn’t hesitate to support it,” they say.The guarantee reinforces the trust the company has worked to build.

Lessons From Decades in the Industry

After decades in business, the founders see their career less as a series of big moments and more as a pattern of consistent decisions.Their approach has always been grounded in fundamentals.Quality products.Reliable service.And honest relationships with customers.“We never tried to reinvent the industry,” they say. “We focused on doing the basics well.”That focus helped Omaha Beef and Seafood grow into one of the largest wholesalers of pre-packaged gourmet proteins in its category.Looking back, the founders say their biggest lesson is simple.“Big ideas don’t have to be complicated,” they explain. “Sometimes the best idea is doing the simple things the right way for a long time.”

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Pop superstar Katy Perry drew sharp criticism in March 2026 after a social media exchange with a struggling fan went viral, accusing the singer of being out of touch amid her ongoing European festival tour preparations and a blossoming romance with former Canadian Prime Minister Justin Trudeau.

The controversy erupted when a fan posted on X about financial hardship, saying they were considering selling a concert ticket to “survive” and “couldn’t afford to live right now.” Perry replied, “But I am looking forward to seeing you,” a response many deemed insensitive. Social media users quickly branded it “tone-deaf” and “grim,” with comments like “God, you are so out of touch” flooding replies. Outlets including Daily Mail and Yahoo News amplified the backlash, noting the 41-year-old’s massive platform—over 413 million followers—heightened expectations for empathy.

Perry has not publicly addressed the incident directly, but sources close to her camp described it as an attempt at encouragement that missed the mark. The exchange came during a quieter period for the “Firework” singer, who wrapped the main leg of her Lifetimes Tour in late 2025 following the release of her album “143” and its hits like “Lifetimes” and “Woman’s World.”

Despite the criticism, Perry’s career momentum continues with confirmed 2026 performances. Her official website lists summer festival headline slots across Europe and beyond, including Rock in Rio Lisboa on June 20, Werchter Boutique in Belgium on June 27, Depot Live at Cardiff Castle in Wales on June 30, and Lucca Summer Festival in Italy on July 25. Additional dates feature Festival O Son Do Camiño in Santiago de Compostela, Spain, on June 18, and Luxembourg Open Air on July 14. Fans have snapped up tickets, with promoters highlighting her return to major stages after a globe-trotting 2025.

The tour extensions follow a whirlwind year that included a high-profile space trip with Blue Origin and viral moments, as recapped in Perry’s end-of-2025 TikTok video. Insiders suggest she’s eyeing new music to coincide with these shows, with rumors swirling about an unreleased track titled “Watch It Burn.” A March video from a shoot showed Perry engulfed in controlled flames for the purported music video, sparking brief fan concern before the stunt’s safety was clarified. While no official release date has been confirmed, speculation points to fresh material potentially dropping ahead of summer festivals.

On the personal front, Perry’s relationship with Justin Trudeau has deepened, drawing significant attention. The pair, first linked romantically in mid-2025 and made Instagram official in December, appeared together at the World Economic Forum in Davos, Switzerland, in January 2026. Perry traded her signature whimsical style for conservative chic, walking hand-in-hand with Trudeau and sitting front row during sessions. Recent Instagram posts from March show intimate moments, including a 16-picture slideshow captioned “You are the treasure you seek,” featuring quality time with Trudeau and her 5-year-old daughter Daisy Dove Bloom.

Trudeau’s son Xavier has spoken positively about Perry, sharing details of their interactions in interviews. Sources describe the couple as “much more serious” in 2026, with reports of joint travel and family blending. A December 2025 family outing to “Paddington: The Musical” in London included ex-fiancé Orlando Bloom and his son Flynn, highlighting amicable co-parenting post their June 2025 split after nine years together.

The romance has fueled speculation about future collaborations, with unconfirmed reports suggesting Perry and Trudeau are brainstorming joint projects for later in the year. Amid career hiatus rumors, Perry maintains an active social presence, sharing glimpses of her life and occasional music teases.

Earlier legal news lingers: In March, Australia’s High Court ruled against Perry in a long-running trademark dispute with Sydney designer Katie Taylor over the “Katie Perry” clothing label. The decision upheld Taylor’s rights after years of appeals, though Perry’s team has downplayed its impact on her brand.

As Perry gears up for her 2026 festival run, the fan backlash serves as a reminder of the scrutiny celebrities face in digital spaces. Supporters argue the comment was well-intentioned, while critics call for greater awareness. With new dates selling briskly and her personal life thriving, Perry appears poised for a vibrant summer, even as she navigates public perception.

The coming months will test whether fresh music and stage energy can reclaim the spotlight amid ongoing conversations. For now, Perry remains a pop culture fixture, blending high-octane performances with evolving personal chapters.

Apple co-founder Steve Wozniak is raising concerns about artificial intelligence as the technology becomes more embedded in everyday life, warning that it may not yet deliver the reliability and human understanding people expect.

Steve Wozniak joined FOX Business’ Liz Claman on “The Claman Countdown” to discuss how AI is evolving and where he believes it falls short despite rapid advancements across the tech industry.

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Wozniak, who helped build Apple’s earliest computers and shape the personal computing revolution, framed his skepticism around the importance of human thinking and emotional awareness, arguing that technology should reflect genuine understanding rather than just well-written responses.

“I want to know some human being like myself is thinking, knowing what I might feel, and understanding emotions and all that,” Wozniak said.

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Apple co-founder Steve Wozniak speaking at a conference. (Luis Ortiz/LatinContent / Getty Images)

Drawing from his own experience testing AI tools, Wozniak said the systems often fail to answer questions directly, instead offering broad or unrelated information that misses the user’s true need.

“I want such reliable content every time. I am not a fan of AI,” Wozniak said.

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His remarks also touched on the broader impact of technology on human behavior, suggesting that growing dependence on automated systems could change how people process information and solve problems.

“You become dependent on it,” Wozniak said.