Company: PACB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001299130-25-000156
Chunk: 94

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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17,220 (3,907)(23%)Operating Expense:Research and development 51,582 81,940 (30,358)(37%)Sales, general and administrative 76,343 89,630 (13,287)(15%)Impairment charges15,000 93,200 (78,200)(84%)Amortization of acquired intangible assets362,875 9,728 353,147 3630%Change in fair value of contingent consideration(18,700)(70)(18,630)26614%Total operating expense 487,100 274,428 212,672 77%Operating loss (473,787)(257,208)(216,579)84%Interest expense (3,475)(7,117)3,642 (51%)Other income, net 8,990 12,828 (3,838)(30%)Loss before income taxes(468,272)(251,497)(216,775)86%Income tax benefit(267)— (267)— Net loss$(468,005)$(251,497)$(216,508)86%

Q2 Fiscal 2025 Form 10-Q34

Revenue

Total Revenue

Total revenue increased $2.1 million, or 3%, during the six months ended June 30, 2025 compared with the same period of 2024.Product revenue decreased $2.6 million, or 4%, primarily due to a decrease of $8.5 million, or 25%, in instrument revenue, partially offset by an increase of $6.0 million, or 18%, in consumable revenue.Service and other revenue increased $4.7 million, or 58%, primarily driven by an increase in Revio service contracts.

Instrument Revenue

Instrument revenue decreased during the six months ended June 30, 2025, primarily due a lower number of Revio systems sold—27 units compared to 52 units in the same period of 2024. This decline primarily reflects variability in customer purchasing behavior resulting from uncertainty surrounding the funding for new capital equipment, particularly among academic and research institutions.The decrease was partially offset by sales of the Vega system, with 66 units sold during the six months ended June 30, 2025 following its commercial launch in the fourth quarter of 2024.We expect that instrument revenue may fluctuate quarter-to-quarter based on timing of customer purchasing decisions, sales mix, and funding dynamics.

Consumables Revenue