Company: PACB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001299130-25-000156
Chunk: 44

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 to existing PacBio customers; and sample volumes materializing slower than expected for some potential Revio customers.

Macroeconomic dynamics impacting the Company in the future may include rising inflation, geopolitical tensions, volatile capital markets, tariffs, uncertainty in the United States related to NIH and academic funding, and fluctuating exchange rates. These factors could continue to impact our revenues and results of operations in future periods; however, the magnitude and duration of these impacts is highly uncertain and inherently unpredictable.

On an ongoing basis, we evaluate our significant estimates, including those related to the valuation of 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 during the six months ended June 30, 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.

Q2 Fiscal 2025 Form 10-Q29

RESULTS OF OPERATIONS

Comparison of the Three Months Ended June 30, 2025 and 2024

Three Months Ended June 30,(In thousands, except percentages)20252024$ Change% ChangeRevenue:Product revenue $33,083 $31,746 $1,337 4%Service and other revenue 6,683 4,267 2,416 57%Total revenue 39,766 36,013 3,753 10%Cost of Revenue:Cost of product revenue 20,022 23,083 (3,061)(13%)Cost of service and other revenue 4,853 3,366 1,487 44%Amortization of acquired intangible assets183 2,628 (2,445)(93%)Loss on purchase commitment24 998 (974)(98%)Total cost of revenue 25,082 30,075 (4,993)(17%)Gross profit14,684 5,938 8,746 147%Operating Expense:Research and development 22,529 38,485 (15,956)(41)%Sales, general and administrative 36,175 45,877 (9,