Company: PACB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001299130-25-000061
Chunk: 178

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1
Chunk 178
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,521 $128,304 (1)     Includes United States revenue of $75.3 million, $100.5 million, and $66.8 million for the years ended December 31, 2024, 2023, and 2022, respectively.A summary of our revenue by category is as follows: Years Ended December 31,(in thousands)202420232022Instrument revenue$65,776 $120,451 $48,719 Consumable revenue70,373 63,421 59,980 Product revenue136,149 183,872 108,699 Service and other revenue17,865 16,649 19,605 Total revenue$154,014 $200,521 $128,304 

Fiscal 2024 Form 10-K124

NOTE 12.  SUBSEQUENT EVENTSOn March 7, 2025, we entered into an amendment to our existing lease for our corporate headquarters, research and development facilities, and manufacturing and distribution centers in Menlo Park, California. The lease amendment extends the term from the prior expiration on October 31, 2027 to its new expiration on April 30, 2034. We will pay approximately $97.7 million in base rent over the life of the amended lease, and receive base rent abatement of approximately $11.6 million for the period beginning on March 1, 2025 and ending on July 31, 2026. We are also entitled to a tenant improvement allowance of $7.2 million.On March 7, 2025, we entered into an agreement to acquire certain technology and related intellectual property from the Chinese University of Hong Kong for $9.7 million.

Fiscal 2024 Form 10-K125

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A.  CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and Interim Chief Financial Officer, and our Chief Accounting Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a–15(e) and 15d–15(e) of the Exchange Act) as of the end of the period covered by this Annual Report on Form 10–K. Disclosure controls and procedures include, without limitation