Company: PACB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001299130-25-000102
Chunk: 397

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 397
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1,657)(4 %)Cost of Revenue:Cost of product revenue 26,333 22,447 3,886 17 %Cost of service and other revenue 3,778 3,738 40 1 %Amortization of acquired intangible assets4,345 1,343 3,002 224 %Loss on purchase commitment4,068 — 4,068 — Total cost of revenue 38,524 27,528 10,996 40 %Gross (loss) profit(1,371)11,282 (12,653)— Operating Expense:Research and development 29,053 43,455 (14,402)(33)%Sales, general and administrative 40,168 43,753 (3,585)(8)%Impairment charges15,000 — 15,000 — Amortization of acquired intangible assets362,042 5,506 356,536 6475 %Change in fair value of contingent consideration(18,700)(70)(18,630)26,614 %Total operating expense 427,563 92,644 334,919 362 %Operating loss (428,934)(81,362)(347,572)427 %Interest expense (1,737)(3,575)1,838 (51)%Other income, net 4,294 6,759 (2,465)(36 %)Loss before benefit from income taxes(426,377)(78,178)(348,199)445 %Income tax benefit(302)— (302)— Net loss$(426,075)$(78,178)$(347,897)445 %

Q1 Fiscal 2025 Form 10-Q32

Revenue

Total Revenue

Total revenue decreased $1.7 million, or 4%, for the first quarter of 2025 compared with the same quarter of 2024.Product revenue decreased $3.9 million, or 11%, primarily due to a decrease of $8.0 million, or 42%, in instrument revenue, partially offset by an increase of $4.1 million, or 26%, in consumable revenue.Service and other revenue increased $2.2 million, or 59%, primarily driven by an increase in Revio service contracts.

Instrument Revenue

Instrument revenue decreased primarily due to the sale of 12 Revio systems in the first