Company: PACB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001299130-25-000168
Chunk: 92

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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29,214 27,224 1,990 7%Operating Expense:Research and development 74,428 107,456 (33,028)(31%)Sales, general and administrative 107,442 133,376 (25,934)(19%)Impairment charges15,000 93,200 (78,200)(84%)Amortization of acquired intangible assets363,708 13,377 350,331 2619%Change in fair value of contingent consideration(18,700)1,100 (19,800)(1800%)Total operating expense 541,878 348,509 193,369 55%Operating loss (512,664)(321,285)(191,379)60%Interest expense (5,214)(10,655)5,441 (51%)Other income, net 11,989 19,718 (7,729)(39%)Loss before income taxes(505,889)(312,222)(193,667)62%Income tax provision116 — 116 — Net loss$(506,005)$(312,222)$(193,783)62%

Q3 Fiscal 2025 Form 10-Q33

Revenue

Total Revenue

Total revenue increased $0.6 million during the nine months ended September 30, 2025 compared with the same period of 2024.Product revenue decreased $5.3 million, or 5%, primarily due to a decrease of $14.0 million, or 28%, in instrument revenue, partially offset by an increase of $8.7 million, or 17%, in consumable revenue.Service and other revenue increased $5.9 million, or 46%, primarily driven by an increase in Revio service contracts.

Instrument Revenue

Instrument revenue decreased during the nine months ended September 30, 2025, primarily due a lower number of Revio systems sold—40 units compared to 74 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 98 units sold during the nine months ended September 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