Pacific Biosciences of Californ
1.9700-0.12 (-5.74%)
Oct 28, 4:00:01 PM EDT · NasdaqGS · PACB · USD
Key Stats
Market Cap
591.73MP/E (TTM)
-Basic EPS (TTM)
-2.23Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Pacific Biosciences posted Q2 revenue of $39.8M, up 10% y/y from $36.0M but flat q/q (derived), with product sales edging 4% higher on stronger consumables while instruments dipped 4% y/y amid funding uncertainties; gross profit surged 147% y/y to $14.7M, lifting margins to 37% from 16.5% as restructuring charges eased. Operating loss narrowed sharply to $44.9M from $175.8M y/y, thanks to lower R&D and SG&A expenses post-headcount cuts, though YTD figures swelled to $473.8M versus $257.2M on $359.3M accelerated intangible amortization and $15.0M IPR&D impairment tied to halting short-read development. Cash and investments stood at $314.7M, down from $389.9M year-end, with operating cash burn at $73.4M versus $129.9M prior year; free cash flow not disclosed in the 10-Q. Convertible notes totaled $649M principal, maturing 2029-2030 at 1.5% and 1.375% rates. Patent disputes linger with Personal Genomics of Taiwan.
8-K
PacBio Q2 revenue grows 10%
PacBio reported Q2 2025 revenue of $39.8 million, up 10% from $36.0 million in Q2 2024, driven by consumables growth to $18.9 million while instrument sales held steady at $14.2 million. The company slashed operating expenses to $59.5 million from $181.8 million, narrowing GAAP net loss to $41.9 million and boosting non-GAAP gross margin to 38%. Cash reserves dipped to $314.7 million. Restructuring costs persist.
8-K
Stockholders approve equity plan expansion
Pacific Biosciences stockholders approved an amendment to the 2020 Equity Incentive Plan at the June 4, 2025 annual meeting, adding 23 million shares to the reserve for employee and director incentives. With 62% turnout, the vote passed 85 million for versus 44 million against, bolstering talent retention amid biotech competition. This boosts the total pool to 95 million shares. Yet dilution looms for existing holders.
10-Q
Q1 FY2025 results
Pacific Biosciences posted Q1 revenue of $37.2M, down 4% y/y from $38.8M, with product sales slipping 11% on fewer Revio instrument placements (12 units vs 28 y/y) yet consumables up 26% from a growing installed base; services rose 59%. Gross loss hit $1.4M versus $11.3M profit y/y, pressured by $12M in restructuring charges like inventory provisions and purchase commitment losses, while operating loss ballooned to $428.9M from $81.4M due to $359.3M accelerated amortization on Omniome intangibles and $15M IPR&D impairment from ceasing short-read development—net loss widened to $426.1M or $1.44/share (derived from 296.9M diluted shares, consistent). Cash and investments stood at $343.1M, down from $389.9M q/q, with operating cash burn easing to $44.1M from $75.7M; total debt of $649M includes $200M 1.5% notes due 2029 and $441M 1.375% notes due 2030, no revolver. Restructuring prioritizes HiFi sequencing, but persistent NIH funding uncertainty risks delaying academic buys.
8-K
PacBio Q1 revenue dips, restructuring bites
PacBio reported Q1 2025 revenue of $37.2 million, down slightly from $38.8 million last year, with consumables surging to $20.1 million while instrument sales dropped to $11.0 million. Restructuring hit hard, driving a GAAP net loss of $426.1 million from massive impairment and amortization charges, yet non-GAAP net loss narrowed to $44.4 million with gross margin up to 40%. The plan targets $45-50 million in annual expense cuts by year-end, refocusing on long-read sequencing amid funding woes. An internal probe into employment and cybersecurity claims delays the 10-Q filing.
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