Company: PACB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001299130-25-000156
Chunk: 48

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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355 45,530 825 2%Cost of service and other revenue 8,631 7,104 1,527 21%Amortization of acquired intangible assets4,528 3,971 557 14%Loss on purchase commitment4,092 998 3,094 310%Total cost of revenue 63,606 57,603 6,003 10%Gross profit13,313 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