10-K · February 25, 2026
Pacific Biosciences positions itself as a leader in HiFi long‑read sequencing, pursuing growth by lowering per‑sample cost (SPRQ‑Nx), driving Revio adoption, expanding Vega and kitted solutions (Kinnex, PureTarget), and…
Earnings analysis · 10-Q
PACB earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
PacBio's Q1 2026 10-Q reveals ongoing challenges with revenue and profitability, marked by revenue of $37.18 million, which fell short of estimates and reflects minimal YoY growth. Notably, the company achieved…
Read full summary
PacBio's Q1 2026 10-Q reveals ongoing challenges with revenue and profitability, marked by revenue of $37.18 million, which fell short of estimates and reflects minimal YoY growth. Notably, the company achieved significant gross profit improvement, shifting from a gross loss to a $12.8 million profit, driven by optimized costs and restructuring efforts. Management expresses cautious optimism for future growth, anticipating increased revenue contributions from key segments in subsequent quarters.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.12
- Gross margin
- 34.4%
What stood out
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Revenue Misses Expectations
Reported revenue of $37.18M fell short of consensus estimate of $40.18M.
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Improved Gross Profit
Gross profit increased to $12.8M from a gross loss of $1.4M YoY.
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Adjusted Operating Expenses
Operating expenses decreased by $406.4 million, reducing the operating loss significantly.
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Increased Cash Proceeds from Asset Sale
Net cash proceeds of approximately $48.1 million received from asset sale to Illumina.
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Strong Cash Position
Cash and cash equivalents totaled $276 million, showing a slight decline from previous quarter.
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Positive Remarks on Consumable Revenue Growth
Management expects growth in consumables due to expanded Revio and Vega adoption.
What to watch
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Litigation Settlement Expenses
Litigation expenses of $15.4 million impacted Q1 operating costs.
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Negative Cash Flow
Q1 cash used in operations totaled $44.69M, continuing a trend of negative cash flow.
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Sales Cycle Delays
Prolonged sales cycles due to tighter funding could constrain revenue growth in future quarters.
Management's outlook
Management expects full-year revenue guidance in the range of $165M to $175M.
Earlier filings 4
10-Q · August 7, 2025
Q2 2025 showed operational improvement: revenue rose to $39.8M (Q2 2025) from $36.0M (Q2 2024), gross margin expanded to ~36.9% from ~16.5%, and diluted loss per share narrowed to $(0.14) from $(0.64). However, balance…
10-Q · November 12, 2024
PacBio reported Q3 revenue of $39,967,000 (Q3 2023: $55,691,000), a 28.2% YoY decline, gross profit of $10,004,000 (gross margin ~25.0%) and a net loss of $60,725,000 (EPS -$0.22). Management recorded a $93,200,000…
10-Q · May 9, 2024
Q1 2024 revenue was essentially flat at $38.81M versus $38.90M a year ago, while gross profit improved to $11.28M (29.06% margin) and operating loss narrowed to $(81.36)M. Net loss was $(78.18)M or $(0.29) per share, an…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.