Company: PACB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001299130-25-000061
Chunk: 844

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 3
Chunk 844
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(35,284)(28 %)Cost of service and other revenue 14,057 14,754 (697)(5 %)Amortization of acquired intangible assets9,393 1,983 7,410 374 %Loss on purchase commitment998 3,436 (2,438)(71 %)Total cost of revenue 116,732 147,741 (31,009)(21 %)Gross profit 37,282 52,780 (15,498)(29 %)Operating Expense:Research and development 134,922 187,170 (52,248)(28 %)Sales, general and administrative 175,017 169,818 5,199 3 %Impairment charges184,500 — 184,500 — Merger-related expenses— 9,042 (9,042)(100)%Change in fair value of contingent consideration(850)15,060 (15,910)(106 %)Amortization of acquired intangible assets18,006 6,157 11,849 192 %Total operating expense 511,595 387,247 124,348 32 %Operating loss (474,313)(334,467)(139,846)42 %Loss on extinguishment of debt— (2,033)2,033 (100 %)Gain on debt restructuring154,407 — 154,407 — Interest expense (13,412)(14,343)931 (6 %)Other income, net 23,783 32,684 (8,901)(27 %)Loss before income taxes(309,535)(318,159)8,624 (3 %)Income tax provision (benefit)316 (11,424)11,740 (103 %)Net loss$(309,851)$(306,735)$(3,116)1 %

Fiscal 2024 Form 10-K66

Revenue

Total Revenue

Total revenue decreased $46.5 million, or 23%, to $154.0 million for the year ended December 31, 2024, as compared to $200.5 million for the year ended December 31, 2023.The decrease in product revenue resulted primarily from a decrease of $54.7 million in instrument revenue, partially offset by an increase of approximately $6.9 million in consumable revenue.Service and