Company: PACB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001299130-25-000168
Chunk: 17

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 & agency securities287,393 418 (155)287,656 Total investments334,139 602 (180)334,561 Total cash, cash equivalents and investments$389,509 $602 $(180)$389,931 Short-term restricted cash$690 $— $— $690 Long-term restricted cash$1,532 $— $— $1,532 

Q3 Fiscal 2025 Form 10-Q11

The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of September 30, 2025:(In thousands)Fair ValueDue in one year or less $181,705 Due after one year through five years 64,466 Total$246,171 Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.Investment income included in other income, net on the condensed consolidated statements of operations and comprehensive loss was $3.1 million and $10.4 million for the three and nine months ended September 30, 2025, respectively, and $6.0 million and $19.8 million for the three and nine months ended September 30, 2024, respectively.

NOTE 3.  BALANCE SHEET COMPONENTS Inventory, NetOur inventory, net, consisted of the following components:(In thousands)September 30,2025December 31,2024Purchased materials$41,788 $45,270 Work in process25,189 22,172 Finished goods16,435 14,081 Inventory, gross83,412 81,523 Inventory reserve(30,259)(22,768)Inventory, net$53,153 $58,755 Goodwill and Intangible AssetsGoodwillGoodwill is reviewed for impairment at least annually during the second quarter, or more frequently if an event occurs indicating the potential for impairment. Based on quantitative interim impairment tests performed in 2024, we recorded impairment charges of $93.2 million in the second quarter of 2024 and $51.3 million in the fourth quarter of 2024.We conducted a quantitative interim impairment test as of March 31, 2025, based on a decline in stock price and market capitalization during the first quarter of 2025, macroeconomic uncertainties, and revised strategic plans