Company: PACB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001299130-25-000156
Chunk: 180

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 180
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 for use of our technology.

Financial Overview

Key highlights of the six months ended June 30, 2025 consolidated financial results include the following:

Revenue ofGross profit ofOperating loss ofCash, cash equivalents, and investments of$76.9 M$13.3 M$473.8 M$314.7 Mcompared to $74.8 M during the same period of 2024compared to $17.2 M during the same period of 2024compared to $257.2 M during the same period of 2024compared to $389.9 M at December 31, 2024

•Revenue was comprised of $25.2 million in instrument revenue, $39.0 million in consumables revenue and $12.7 million in service and other revenue during the six months ended June 30, 2025. Revenue was comprised of $33.7 million in instrument revenue, $33.0 million in consumables revenue and $8.1 million in service and other revenue during the six months ended June 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 decreased during the six months ended June 30, 2025 compared to the same period of 2024. Restructuring-related charges of $12.4 million during the six months ended June 30, 2025 compared to $4.6 million for the same period of 2024 were partially offset by an increase in gross profit driven by growth in consumable revenue. 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, warranty cost improvements, average selling price fluctuations, future product launches, changes to inventory reserves, costs of raw materials, and tariffs.

Q2 Fiscal 2025 Form 10-Q28

•Loss from operations increased $216.6 million during the six months ended June 30, 2025, compared with the same period of 2024, primarily due to a $212.7 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 $4.8 million of employee