Logo

PACB

Pacific Biosciences of California, Inc.

PACB

Pacific Biosciences of California, Inc. • NASDAQ
$2.31 ▼ -3.56% (-0.09)
Market Cap $695.90 M
52w High $2.73
52w Low $0.85
Dividend Yield 0%
P/E -1.08
Volume 3.72M
Outstanding Shares 301.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $38.441M ▼ $53.945M ▼ $-38M ▲ -98.853% ▲ $-0.13 ▲ $-32.397M ▲
Q2-2025 $39.766M ▲ $59.537M ▼ $-41.93M ▲ -105.442% ▲ $-0.14 ▲ $-35.575M ▲
Q1-2025 $37.153M ▼ $427.563M ▲ $-426.075M ▼ -1.147K% ▼ $-1.44 ▼ $-51.861M ▼
Q4-2024 $39.224M ▼ $163.086M ▲ $2.371M ▲ 6.045% ▲ $0.008 ▲ $16.393M ▲
Q3-2024 $39.967M $74.081M $-60.725M -151.938% $-0.22 $-41.088M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $298.654M ▼ $803.158M ▼ $767.068M ▲ $36.09M ▼
Q2-2025 $314.735M ▼ $825.47M ▼ $763.981M ▼ $61.489M ▼
Q1-2025 $343.11M ▼ $860.789M ▼ $769.151M ▲ $91.638M ▼
Q4-2024 $389.931M ▼ $1.26B ▼ $753.853M ▼ $506.594M ▲
Q3-2024 $471.147M $1.45B $996.93M $453.122M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-38M ▲ $-18.707M ▲ $18.902M ▼ $1.469M ▲ $1.664M ▲ $-18.621M ▲
Q2-2025 $-41.93M ▲ $-29.377M ▲ $25.283M ▼ $0 ▼ $-4.094M ▼ $-29.927M ▲
Q1-2025 $-426.075M ▼ $-44.056M ▼ $45.234M ▼ $1.959M ▲ $3.137M ▲ $-50.445M ▼
Q4-2024 $2.371M ▲ $-30.65M ▲ $58.238M ▲ $-50.2M ▼ $-22.612M ▼ $-32.267M ▲
Q3-2024 $-60.725M $-45.463M $23.065M $812K $-21.196M $-44.676M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Consumable
Consumable
 $40.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Instrument
Instrument
 $30.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Product
Product
 $70.00M ▲$30.00M ▼$30.00M ▲$30.00M ▲
Service And Other
Service And Other
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully over the last several years but took a step back in the most recent period, suggesting some lumpiness in demand or transitions in the product lineup. The company consistently generates solid gross profit on its sales, but operating expenses — especially R&D and commercialization — far outweigh that gross profit. As a result, operating losses have widened over time, and net losses remain large. In simple terms, PACB is still very much in a “build and scale” phase, prioritizing technology and market expansion over near‑term profitability, with no clear sign yet of breaking even.

Balance Sheet

Balance Sheet The balance sheet shows a business that once had a strong resource base but is now drawing it down. Total assets have drifted lower from prior peaks, and the cash cushion has shrunk significantly, while debt remains relatively high and not meaningfully reduced. Shareholders’ equity has eroded over the last few years, reflecting ongoing losses. Overall, the company has less financial flexibility than it did a few years ago and is more reliant on future growth or external financing to support its plans.

Cash Flow

Cash Flow PacBio is consistently using more cash than it generates from its operations. Operating cash flow has been negative for several years and has weakened as spending has increased. Capital expenditures themselves are modest, but because the core business is not yet cash‑generative, free cash flow remains firmly negative. In practical terms, the company is burning cash to fund growth and innovation, which heightens the importance of either improving margins, accelerating revenue, or accessing new capital over time.

Competitive Edge

Competitive Edge PacBio occupies a specialized but strategically important niche in genomics: highly accurate long‑read DNA sequencing. Its technology is well regarded for resolving complex regions of the genome and for combining sequence and epigenetic information in one run. This gives it a differentiated position versus dominant short‑read players and other long‑read providers. The installed base of instruments and consumables model can create sticky, recurring revenue once systems are placed. However, the company is much smaller than leading competitors, faces intense price and innovation pressure, and must keep proving its value as others improve their own platforms. The moat is based on technical performance and application fit, not on scale or profitability yet.

Innovation and R&D

Innovation and R&D Innovation is the core of PacBio’s story. The company’s SMRT and HiFi technologies, along with newer platforms like Revio and Vega, show a consistent push to make long‑read sequencing more accurate, faster, and cheaper. It is layering on targeted sequencing, RNA tools, and increasingly sophisticated software, which deepen its ecosystem. The pipeline — including new chemistries to cut genome costs and a move into short‑read and next‑generation long‑read platforms — could materially expand its addressable market if delivered as planned. At the same time, this innovation engine is expensive, contributes to sizable losses, and carries execution risk: timelines, performance, and customer adoption all have to line up for the R&D spending to translate into sustainable returns.

Summary

PacBio is a classic high‑innovation, high‑risk healthcare technology company. On the positive side, it has distinctive technology in a growing area of genomics, a product portfolio that is broadening, and a roadmap aimed at making its solutions more affordable and widely used. Collaborations and a consumables‑driven business model offer potential for sticky, recurring revenue. On the risk side, the company is loss‑making, burns cash, and has seen its financial cushion shrink while debt stays elevated. Revenue progress has been uneven, and PacBio competes against much larger, well‑funded players. Future outcomes will hinge on how effectively it can convert its innovation pipeline and installed base into faster growth, better margins, and a stronger financial foundation, while managing financing and competitive pressures along the way.

NEWS

November 28, 2025 · 9:05 AM UTC

PacBio to Participate in the Piper Sandler 37th Annual Healthcare Conference

Read more

November 5, 2025 · 9:05 AM UTC

HiFi Solves Consortium Publishes First Major Study Demonstrating the Clinical Research Power of PacBio HiFi Genomes

Read more

November 4, 2025 · 9:05 AM UTC

PacBio Supports Berry Genomics in Achieving First Regulatory Approval for Clinical Long-Read Sequencing in China

Read more

October 22, 2025 · 4:05 PM UTC

PacBio to Report Third Quarter 2025 Financial Results on November 5, 2025

Read more

October 14, 2025 · 6:05 AM UTC

PacBio Announces Major Advances for Revio and Vega to Lower Genome Cost and Expand Multiomic Capabilities

Read more