Company: PACB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001299130-25-000168
Chunk: 175

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 175
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 for use of our technology.

Financial Overview

Key highlights of the nine months ended September 30, 2025 consolidated financial results include the following:

Revenue ofGross profit ofOperating loss ofCash, cash equivalents, and investments of$115.4 M$29.2 M$512.7 M$298.7 Mcompared to $114.8 M during the same period of 2024compared to $27.2 M during the same period of 2024compared to $321.3 M during the same period of 2024compared to $389.9 M at December 31, 2024

•Revenue was comprised of $36.5 million in instrument revenue, $60.3 million in consumables revenue and $18.6 million in service and other revenue during the nine months ended September 30, 2025. Revenue was comprised of $50.5 million in instrument revenue, $51.6 million in consumables revenue and $12.7 million in service and other revenue during the nine months ended September 30, 2024. The increase was primarily due to higher consumable sales, Vega unit sales, and service and other revenue, partially offset by lower Revio unit sales.

•Gross profit increased during the nine months ended September 30, 2025 compared to the same period of 2024. The increase was primarily driven by growth in consumable revenue and lower cost of product revenue, partially offset by restructuring-related charges of $12.4 million during the nine months ended September 30, 2025 compared to $4.4 million for the same period of 2024. See Note 5. Restructuring in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information. Gross margins may be affected by product mix, manufacturing efficiencies, changes in warranty costs, average selling price fluctuations, future product launches, changes to inventory reserves, costs of raw materials, and tariffs.

Q3 Fiscal 2025 Form 10-Q28

•Loss from operations increased $191.4 million during the nine months ended September 30, 2025, compared with the same period of 2024, primarily due to a $193.4 million increase in operating expenses. This increase included $382.4 million of restructuring-related costs, comprised primarily of $359.3 million in accelerated amortization of acquired intangibles, $15.0 million of impairment charges, and $4.