Company: PACB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001299130-25-000102
Chunk: 239

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 239
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 goodwill and finite-lived assets. However, these estimates could change in future periods based on events or changes in circumstances, which could result in material future impairment charges. We recorded $15.0 million of impairment charges for the first quarter of 2025. See additional discussion below in Results of Operations, as well as Note 3. Balance Sheet Components in Part I, Item 1 of this Quarterly Report on Form 10-Q for further information. Additionally, refer to the Critical Accounting Policies and Estimates section of our 2024 Annual Report for further discussion on the Company's asset impairment assessments.

See the Risk Factors section for further discussion.

Q1 Fiscal 2025 Form 10-Q31

RESULTS OF OPERATIONS

Comparison of the Three Months Ended March 31, 2025 and 2024

Three Months Ended March 31,(In thousands, except percentages)20252024$ Change% ChangeRevenue:Product revenue $31,113 $35,009 $(3,896)(11 %)Service and other revenue 6,040 3,801 2,239 59 %Total revenue 37,153 38,810 (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