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 | Source: PacBio

MENLO PARK, Calif., Sept. 03, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will participate in a fireside chat at the Morgan Stanley 24th Annual Global Healthcare Conference on Tuesday, September 15, 2026, at 4:50 PM ET in New York, New York.

A live webcast of the event can be accessed at the company’s investors page at investor.pacificbiosciences.com. A replay of the webcast will be available for at least 30 days following the event.

About PacBio

PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies, which include our HiFi long-read sequencing, address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.

PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.

Contacts

Investors:
[email protected]

Media:
[email protected]

Deciphering Disruption: Inside Cathie Wood's Latest PlaysPacific Biosciences of California NASDAQ: PACB reported second-quarter revenue of $39 million, including $20 million in consumables revenue, $13 million in instrument revenue and $6 million in services revenue, CFO Jim Gibson said during the Canaccord Genuity Growth Conference.

Revenue increased sequentially, Gibson said, while services revenue declined slightly year over year following the completion of a large population genetics study in Asia. The company highlighted 67% growth in its clinical business and said clinical consumables represented a mid-teens percentage of total consumables revenue.

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Leadership transition and restructuring Strategic Buy Lights Up This Biotech Stock: Time to Invest?PacBio recently completed the transition to Mark Van Oene as chief executive officer. Gibson said Van Oene, who joined PacBio about five years ago, previously led research and development and operations and was involved in the launches of the Revio and Vega sequencing systems as well as the company’s SPRQ-Nx and original SPRQ chemistry products.

According to Gibson, Van Oene’s priorities include expanding PacBio’s clinical presence and building on growth in Europe, the Middle East and Africa, or EMEA, as well as other international markets.

The company also announced a targeted reduction in force as it manages higher compute and memory costs and a slower-than-expected transition to its SPRQ-Nx chemistry. Gibson said the restructuring substantially reduced marketing functions and removed management layers, with marketing efforts becoming more focused on clinical markets and integrated with the commercial organization.

PacBio expects the actions to reduce compensation and benefits expenses by $15 million to $20 million. Gibson also said the company expects to be past much of its major spending for a new high-throughput sequencing platform by 2027, potentially reducing spending by another $30 million to $40 million that year.

SPRQ-Nx transition affects consumables PacBio commercially launched SPRQ-Nx in May. The chemistry supports three uses per chip and carries an average selling price roughly 35% below the prior offering, Gibson said. While approximately one-third of customers had converted their software to enable the multi-use workflow, some larger service providers have continued using existing inventory before placing more orders for the new chemistry.

“We did see a slight lull in Q2” as customers worked through inventory, Gibson said, adding that usage rates remained high even when customers were not replenishing supplies.

The company expects many customers to complete that inventory transition by the latter part of 2026. PacBio also expects that lower pricing could drive increased sample volumes, though Gibson said it was too early to draw conclusions from order data. He estimated each Revio system would need to run roughly 10 to 15 more samples per month to return to revenue parity after the price reduction.

PacBio lowered its revenue outlook, with Gibson citing the slower SPRQ-Nx conversion and reduced expectations for a second-half pickup in academic and government demand for Vega systems. He said demand for Revio remains strong and that the company continues to see solid Vega placements.

Population studies and clinical opportunity Gibson said PacBio signed two notable fleet-expansion agreements with existing customers and secured a large new population genomics initiative that received five Revio systems. The company expects to provide additional details about that initiative during the third quarter.

He said large projects enabled by SPRQ-Nx are expected to become more meaningful contributors to revenue in 2027, as installations and project ramps generally take four to six months. PacBio previously announced a 100,000-sample GeneDx project, which Gibson described as the company’s largest project to date. He said the GeneDx program and the newly announced population genetics initiative are not expected to contribute substantially in 2026.

Gibson said PacBio won the GeneDx business through a competitive process in which customers prioritized data depth, coverage and reproducibility. He said researchers and clinical-oriented organizations are increasingly interested in generating more complete genomic data sets at the outset rather than potentially enriching short-read data sets years later.

In EMEA, PacBio reported more than 50% year-over-year growth, supported by rare-disease testing, favorable reimbursement conditions for whole-genome sequencing and the fit of Revio throughput at smaller hospitals and within single-payer healthcare systems. In the U.S., Gibson said larger centralized testing labs are seeking higher-throughput systems and favorable reimbursement conditions for whole-genome sequencing.

Path toward cash-flow positivity PacBio is developing an ultra-high-throughput platform that Gibson said is intended to improve price parity with short-read sequencing, support larger data sets and provide customers with more flexibility over compute requirements. The company is also working to optimize its existing systems’ use of GPUs and memory, after buying inventory to secure supply for the remainder of the year.

Gibson said PacBio’s path to cash-flow positivity in 2028 depends on successfully launching the new platform as a portfolio addition, improving compute and DRAM economics, and converting a majority of customers to SPRQ-Nx. He said the company would need to be “knocking on the door of 50%” gross margin to support that objective.

About Pacific Biosciences of California (NASDAQ:PACB)Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company's proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.

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Pacific Biosciences of California, Inc. (PACB) Q2 2026 Earnings Call Transcript

Deciphering Disruption: Inside Cathie Wood's Latest PlaysPacific Biosciences of California NASDAQ: PACB reported second-quarter 2026 revenue of $39 million, roughly flat from $39.8 million a year earlier, while announcing an immediate leadership transition and lowering its full-year revenue outlook amid a slower-than-expected rollout of its new multi-use sequencing chemistry and continued funding constraints in academic and government markets.

Christian Henry stepped down as president and chief executive officer and will remain on PacBio’s board while serving as an advisor. Mark Van Oene, who previously led the company’s R&D operations and commercial organization, succeeded Henry as president and CEO effective immediately.

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Strategic Buy Lights Up This Biotech Stock: Time to Invest?“My priorities will be directly built on this foundation,” Van Oene said, citing plans to scale the company’s clinical-market approach globally, expand adoption of its SMRT Next chemistry and support larger sequencing projects.

Revenue mix and instrument placements Consumables revenue rose 6% year over year to $20.1 million, supported by growth in PacBio’s installed base and clinical customer utilization. Shipments to clinical customers increased 67% from the prior-year period and represented a mid-teens percentage of total consumables shipments, according to Van Oene.

Instrument revenue declined 9% to $12.8 million. Chief Financial Officer Jim Gibson said the decrease reflected a lower average selling price resulting from customer mix, including lower-priced strategic Revio placements, as well as fewer Vega system shipments.

PacBio sold 20 Revio systems during the quarter, compared with 15 a year earlier. It sold 26 Vega systems, compared with 38 in the prior-year quarter. Cumulative shipments reached 366 Revio systems and 200 Vega systems. Sixty percent of second-quarter Revio placements went to new customers, while 45% were part of multi-instrument orders. Eighty-one percent of Vega shipments went to new customers. Van Oene said the majority of Revio placements during the quarter were to clinical accounts. He also said PacBio is seeing public health laboratories adopt Vega systems, including for wastewater testing and other applications outside traditional high-throughput whole-genome sequencing.

Regional performance was mixed. Revenue in Europe, the Middle East and Africa increased 52% to $14.4 million, driven by clinical customers moving from pilot programs into routine production, growing Vega demand and a strategic multi-system Revio placement for a national genomics initiative. Americas revenue was $17.6 million, down slightly year over year, as uncertainty around NIH and broader academic funding affected capital purchases. Asia-Pacific revenue declined 45% to $7 million, reflecting the completion of a population sequencing program, funding headwinds and lower consumables demand during customer workflow validation.

SMRT Next rollout and clinical strategy The company highlighted the global rollout of its SPRQ-Nx, or SMRT Next, chemistry for Revio. The chemistry allows customers to use each SMRT Cell up to three times, increases throughput per run and lowers the U.S. list price of a 20x HiFi human genome to $345, a 30% reduction from PacBio’s prior Spark chemistry, Van Oene said.

More than one-third of PacBio’s installed base adopted software supporting the new workflow in June. The company expects more than half of its installed base to opt in by the end of the third quarter and the vast majority by year-end. Customers are currently validating the multi-use workflow and working through existing reagent inventories, leading PacBio to expect consumables growth to gain momentum later in 2026.

Van Oene said PacBio expects the SPRQ-Nx transition to continue through the third quarter, with consumables usage beginning to scale toward the end of the year. The company also plans to launch SPRQ-Nx chemistry for Vega in late August, increasing output to up to 90 gigabases per run while reducing DNA input requirements.

PacBio cited recent publications supporting long-read sequencing in clinical diagnostics. Van Oene said a June 13 article in The New England Journal of Medicine reported 96.4% concordance between long-read genome sequencing and standard-of-care testing in rare disease diagnostics. In the study, long-read sequencing improved or refined diagnoses in 3.4% of cases, while standard testing identified variants missed by long reads in 0.2% of cases.

The company also referenced a Nature Genetics article discussing “near-perfect genome sequencing” and a preprint from the HiFi Solves Sub-fertility Consortium in Asia-Pacific. PacBio said those findings reinforce its view that long-read sequencing can support a broader shift toward a single, more comprehensive testing workflow.

Margins, restructuring and revised outlook Second-quarter non-GAAP gross margin was 36%, down from 38% a year earlier. Gibson attributed the decline to compute cost inflation, lower manufacturing volumes and $1.1 million in costs related to moving Vega manufacturing in-house. PacBio expects Vega manufacturing transition costs to conclude by the end of 2026.

Non-GAAP operating expenses declined 3% to $56.1 million. The company reported a non-GAAP net loss of $41.9 million, or $0.14 per share, compared with a loss of $40 million, or $0.13 per share, in the prior-year quarter. PacBio ended the quarter with approximately $236.9 million in unrestricted cash equivalents and investments, down from $279.5 million at the end of 2025.

The company recently initiated a reorganization that will reduce its workforce by about 40 employees. Van Oene said the changes integrate marketing more closely with the commercial organization, particularly around clinical customers, while reducing management layers. He said key R&D platform projects were not affected.

For 2026, PacBio reduced its revenue outlook to $155 million to $165 million. It now expects non-GAAP gross margin of 35% to 37%, non-GAAP operating expenses of $215 million to $220 million and year-end cash of approximately $175 million to $185 million.

Gibson said the company expects the restructuring to reduce 2027 compensation and related expenses by approximately $15 million to $20 million. PacBio also expects another $15 million to $20 million of annual savings after it moves beyond development spending on its high-throughput platform. However, the company now expects to reach cash-flow breakeven in 2028, compared with its previous expectation of the end of 2027.

About Pacific Biosciences of California (NASDAQ:PACB)Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company's proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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MENLO PARK, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB) today announced financial results for the quarter ended June 30, 2026.

Recent Business Highlights

Total revenue of $39.0 million was driven by growing consumables and new Revio and Vega placements as the Company commenced its full rollout of SPRQ-Nx chemistry. Instrument revenue consisted of both single-system and multi-system orders, including an order for several Revio systems from a new population-scale customerCommenced global commercial rollout of SPRQ-Nx, delivering whole genome sequencing at $345 USD list price per genome with enhanced methylation detection and DeepConsensus, an AI-powered consensus algorithm co-developed with GoogleCommenced sequencing and sample delivery for Basecamp Research, a frontier AI lab for therapeutic design, marking a significant operational milestone for PacBio's largest population-scale program to datePublished in a landmark New England Journal of Medicine study, "Clinical Long-Read Genome Sequencing for Rare-Disease Diagnostics." The publication demonstrates that HiFi long-read sequencing is a clinically effective first-tier diagnostic test that improves diagnostic yield while simplifying the laboratory workflow, reducing turnaround time, and enhancing the overall economics of rare disease diagnosticsPublished in a Nature Genetics article, “Near-perfect genome sequencing in medical genetics.” The publication highlights long-read sequencing as a pillar of near-perfect genome sequencing (NPGS), alongside diploid genome assembly, pangenome references, and AI-driven variant interpretationContributed to a published preprint from the HiFi Solves Sub-fertility Consortium in Asia Pacific. The preprint demonstrates that PacBio HiFi whole genome sequencing can provide a more complete view of reproductive genetics in one workflowImplemented restructuring actions primarily to streamline marketing and R&D organizations, strengthen the go-to-market commercial organization, and drive greater cost discipline going forward
Second quarter results:

 Q2 2026Q2 2025Revenue (in millions)$39.0$39.8Consumable revenue (in millions)$20.1$18.9Instrument revenue (in millions)$12.8$14.2Service and other revenue (in millions)$6.1$6.7Revio™system placements2015Vega™ system placements2638Annualized Revio pull-through per system~$202,000~$219,000Ending cash, cash equivalents, and investments (in millions)$236.9$314.7    Gross profit and margin, operating expenses, net loss, and net loss per share are reported on a GAAP and non-GAAP basis. The non-GAAP measures are described below and reconciled to the corresponding GAAP measures at the end of this release.

GAAP gross profit for the second quarter of 2026 was $12.6 million compared to $14.7 million during the second quarter of 2025. Non-GAAP gross profit for the second quarter of 2026 was $13.9 million compared to $15.2 million for the second quarter of 2025. GAAP gross margin was 32% for the second quarter of 2026 compared to 37% for the second quarter of 2025. Non-GAAP gross margin was 36% for the second quarter of 2026 compared to 38% for the second quarter of 2025. The decline in non-GAAP gross margin was primarily driven by higher compute and memory costs, Vega manufacturing transition costs, and lower Revio average selling prices associated with strategic multi-system customer placements.

GAAP operating expenses totaled $57.2 million for the second quarter of 2026 compared to $59.5 million for the second quarter of 2025. Non-GAAP operating expenses totaled $56.1 million for the second quarter of 2026 compared to $58.1 million for the second quarter of 2025. GAAP and non-GAAP operating expenses for the second quarter of 2026 and the second quarter of 2025 included non-cash share-based compensation of $8.6 million and $11.0 million, respectively.

GAAP net loss for the second quarter of 2026 was $44.7 million compared to $41.9 million for the second quarter of 2025. Non-GAAP net loss for the second quarter of 2026 was $41.9 million compared to $40.0 million for the second quarter of 2025.

GAAP net loss per share for the second quarter of 2026 was $0.14 compared to $0.14 for the second quarter of 2025. Non-GAAP net loss per share for the second quarter of 2026 was $0.14 compared to $0.13 for the second quarter of 2025.

2026 Financial Outlook

PacBio expects revenue for the full year 2026 to be in the range of $155 million to $165 million.

Quarterly Conference Call Information

Management will host a quarterly conference call today at 4:30 p.m. Eastern Time to review financial results for the second quarter ended June 30, 2026. Investors can access the call by dialing 1-888-349-0136 (or 1-412-317-0459 for international callers) and requesting to join the “PacBio Q2 Earnings Call". The call will be webcast live and available for replay at PacBio's website at https://investor.pacificbiosciences.com.

About PacBio

PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies, which primarily consist of our HiFi long-read sequencing systems, address solutions across a broad set of research applications, including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.

PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.

Statement regarding use of non‐GAAP financial measures

PacBio reports non‐GAAP results for basic net income (loss) per share, net income (loss), gross margins, gross profit (loss) and operating expenses in addition to, and not as a substitute for, or because it believes that such information is superior to, financial measures calculated in accordance with GAAP. PacBio believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of PacBio’s non-GAAP financial measures as tools for comparison.

PacBio's financial measures under GAAP include substantial charges that are listed in the itemized reconciliations between GAAP and non‐GAAP financial measures included in this press release. PacBio excludes recurring charges from its non-GAAP financial statements, including amortization of acquired intangible assets and changes in fair value of contingent consideration, and further excludes infrequent and limited charges including impairment charges, restructuring-related expenses for discrete restructuring events, settlement charges, disposition of short-read assets, benefits from income taxes and other adjustments and rounding differences.

Management has excluded the effects of these items in non‐GAAP measures to assist investors in analyzing and assessing past and future operating performance. In addition, management uses non-GAAP measures to compare PacBio’s performance relative to forecasts and strategic plans and to benchmark its performance externally against competitors.

PacBio encourages investors to carefully consider its results under GAAP, as well as its supplemental non‐GAAP information and the reconciliation between these presentations, to more fully understand its business. A reconciliation of PacBio’s non-GAAP financial measures to their most directly comparable financial measure stated in accordance with GAAP has been provided in the financial statement tables included in this press release. PacBio is unable to reconcile future-looking non-GAAP guidance without unreasonable effort because certain items that impact this measure are out of PacBio's control and/or cannot be reasonably predicted at this time.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements relating to PacBio’s initiatives as well as the expected financial impact and timing of these plans and initiatives, including PacBio's expectations regarding long-read sequencing and SPRQ-Nx; PacBio's expectations regarding its restructuring efforts; PacBio’s financial guidance and expectations for future periods; new and continued reception of PacBio’s products and their expansion into new or existing markets; and the availability, uses, accuracy, coverage, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies. Reported results and orders for any instrument system should not be considered an indication of future performance. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties and could cause actual outcomes and results to differ materially from currently anticipated results, including, but not limited to, challenges inherent in developing, manufacturing, launching, marketing and selling new products, and achieving anticipated new sales; potential cancellation of existing instrument orders; assumptions, risks and uncertainties related to the ability to attract new customers and retain and grow sales from existing customers; risks related to PacBio's ability to successfully execute and realize the benefits of acquisitions; the impact of new, increased or enhanced tariffs and export restrictions; rapidly changing technologies and extensive competition in genomic sequencing; unanticipated increases in costs or expenses; high costs of computer memory components; interruptions or delays in the supply of components or materials for, or manufacturing of, PacBio products and products under development; potential product performance and quality issues and potential delays in development timelines; the possible loss of key employees, customers, or suppliers; customers and prospective customers curtailing or suspending activities using PacBio's products; third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights; risks associated with international operations; and other risks associated with general macroeconomic conditions and global economic or political instability, including war and other international conflicts, such as the conflicts in the Middle East. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption “Risk Factors.” These forward-looking statements are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available.

The unaudited condensed consolidated financial statements that follow should be read in conjunction with the notes set forth in PacBio's Quarterly Report on Form 10-Q when filed with the Securities and Exchange Commission.

Contacts

Investors:
[email protected]

Media:
[email protected]

  Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Statements of Operations
   Three Months Ended(in thousands, except per share amounts)June 30,
2026 March 31,
2026 June 30,
2025Revenue:     Product revenue$32,950  $31,534  $33,083 Service and other revenue 6,057   5,644   6,683 Total revenue 39,007   37,178   39,766 Cost of Revenue:     Cost of product revenue (1) (2) (3) 20,944   19,972   20,022 Cost of service and other revenue 5,242   4,182   4,853 Amortization of acquired intangible assets 183   183   183 Loss on purchase commitment (1) —   —   24 Total cost of revenue 26,369   24,337   25,082 Gross profit 12,638   12,841   14,684 Operating Expense:     Research and development 23,022   19,608   22,529 Sales, general and administrative (1) (2) 33,393   31,153   36,175 Settlement charges (2) —   15,400   — Gain on disposal of assets (3) —   (45,796)  — Amortization of acquired intangible assets 833   833   833 Total operating expense 57,248   21,198   59,537 Operating loss (44,610)  (8,357)  (44,853)Interest expense (4) (2,110)  (1,740)  (1,738)Other income, net 2,037   2,006   4,696 Loss before income taxes (44,683)  (8,091)  (41,895)Income tax provision 58   184   35 Net loss$(44,741) $(8,275) $(41,930)      Net loss per share:     Basic$(0.14) $(0.03) $(0.14)Diluted$(0.14) $(0.03) $(0.14)      Weighted average shares outstanding used in calculating net loss per share:     Basic 310,405   305,819   300,162 Diluted 310,405   305,819   300,162              (1)  Balances for the three months ended June 30, 2025 include restructuring costs. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(2)  Balances for the three months ended June 30, 2026 and March 31, 2026 include litigation settlement charges and related legal fees in connection with the agreement entered into with Personal Genomics of Taiwan, Inc. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(3)  Balances for the three months ended June 30, 2026 and March 31, 2026 include amounts related to the disposition of short-read assets, including the gain on the sale of certain assets related to our short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies, and related non-recurring customer transition costs. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(4)  Balance for the three months ended June 30, 2026 includes interest expense related to the Personal Genomics of Taiwan, Inc. settlement liability.

 Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Statements of Operations
     Three Months Ended Six Months Ended(in thousands, except per share amounts)June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2025Revenue:       Product revenue$32,950  $33,083  $64,484  $64,196 Service and other revenue 6,057   6,683   11,701   12,723 Total revenue 39,007   39,766   76,185   76,919 Cost of Revenue:       Cost of product revenue (1) (3) (4) 20,944   20,022   40,916   46,355 Cost of service and other revenue 5,242   4,853   9,424   8,631 Amortization of acquired intangible assets 183   183   366   4,528 Loss on purchase commitment (1) —   24   —   4,092 Total cost of revenue 26,369   25,082   50,706   63,606 Gross profit 12,638   14,684   25,479   13,313 Operating Expense:       Research and development (1) 23,022   22,529   42,630   51,582 Sales, general and administrative (1) (3) 33,393   36,175   64,546   76,343 Impairment charges (2) —   —   —   15,000 Settlement charges (3) —   —   15,400   — Gain on disposal of assets (4) —   —   (45,796)  — Amortization of acquired intangible assets (5) 833   833   1,666   362,875 Change in fair value of contingent consideration (6) —   —   —   (18,700)Total operating expense 57,248   59,537   78,446   487,100 Operating loss (44,610)  (44,853)  (52,967)  (473,787)Interest expense (2,110)  (1,738)  (3,850)  (3,475)Other income, net 2,037   4,696   4,043   8,990 Loss before income taxes (44,683)  (41,895)  (52,774)  (468,272)Income tax provision 58   35   242   (267)Net loss$(44,741) $(41,930) $(53,016) $(468,005)        Net loss per share:       Basic$(0.14) $(0.14) $(0.17) $(1.57)Diluted$(0.14) $(0.14) $(0.17) $(1.57)        Weighted average shares outstanding used in calculating net loss per share:       Basic 310,405   300,162   308,250   298,519 Diluted 310,405   300,162   308,250   298,519                  (1)  Balances for the three and six months ended June 30, 2025 include restructuring costs. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(2)  In-process research and development ("IPR&D") impairment charge during the six months ended June 30, 2025 was driven primarily by macroeconomic factors and restructuring initiatives, including the focus on long-read innovation, resulting in changes to the timing and amounts of cash flows.

(3)  Balances for the three and six months ended June 30, 2026 include litigation settlement charges and related legal fees in connection with the agreement entered into with Personal Genomics of Taiwan, Inc. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(4)  Balances for the three and six months ended June 30, 2026 include amounts related to the disposition of short-read assets, including the gain on the sale of certain assets related to our short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies, and related non-recurring customer transition costs. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(5)  Balance for the six months ended June 30, 2025 includes accelerated amortization of acquired intangible assets related to restructuring initiatives. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(6)  Change in fair value of contingent consideration during the six months ended June 30, 2025 was due to fair value adjustments of milestone payments payable upon the achievement of a milestone event.

      Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Balance Sheets
      (in thousands) June 30,
2026 December 31,
2025
Assets     Cash and investments $236,873  $279,506 Accounts receivable, net  31,104   35,448 Inventory, net  61,084   49,285 Prepaid expenses and other current assets  9,545   10,793 Property and equipment, net  26,972   24,146 Operating lease right-of-use assets, net  40,331   41,695 Restricted cash  1,604   1,552 Intangible assets, net  13,084   15,124 Goodwill  317,761   317,761 Other long-term assets  13,492   8,773 Total Assets $751,850  $784,083       Liabilities and Stockholders' (Deficit) Equity     Accounts payable $19,224  $20,770 Accrued expenses  30,322   33,646 Deferred revenue  19,442   19,865 Operating lease liabilities  61,795   57,040 Convertible senior notes, net  644,332   645,382 Other liabilities  9,948   2,031 Stockholders' (deficit) equity  (33,213)  5,349 Total Liabilities and Stockholders' (Deficit) Equity $751,850  $784,083           Pacific Biosciences of California, Inc.
Reconciliation of Non-GAAP Financial Measures
       Three Months Ended Six Months Ended(in thousands, except per share amounts) June 30,
2026 March 31,
2026 June 30,
2025 June 30,
2026 June 30,
2025GAAP net loss $(44,741) $(8,275) $(41,930) $(53,016) $(468,005)Change in fair value of contingent consideration (1)  —   —   —   —   (18,700)Settlement charges (2)  284   16,804   —   17,088   — Amortization of acquired intangible assets  1,016   1,016   1,016   2,032   8,144 Amortization of patent license (3)  516   —   —   516   — Disposition of short-read assets (4)  611   (45,490)  —   (44,879)  — Interest expense (5)  369   —   —   369   — Income tax benefit (6)  —   —   —   —   (546)Restructuring (7)  —   —   963   —   394,751 Non-GAAP net loss $(41,945) $(35,945) $(39,951) $(77,890) $(84,356)           GAAP basic net loss per share $(0.14) $(0.03) $(0.14) $(0.17) $(1.57)Change in fair value of contingent consideration (1)  —   —   —   —   (0.06)Settlement charges (2)  —   0.05   —   0.06   — Amortization of acquired intangible assets  —   —   —   0.01   0.03 Disposition of short-read assets (4)  —   (0.15)  —   (0.15)  — Restructuring (7)  —   —   —   —   1.32 Other adjustments and rounding differences  —   0.01   0.01   —   — Non-GAAP basic net loss per share $(0.14) $(0.12) $(0.13) $(0.25) $(0.28)           GAAP gross profit $12,638  $12,841  $14,684  $25,479  $13,313 Settlement charges (2)  —   500   —   500   — Amortization of acquired intangible assets  183   183   183   366   4,528 Amortization of patent license (3)  516   —   —   516   — Disposition of short-read assets (4)  611   306   —   917   — Restructuring (7)  —   —   348   —   12,375 Non-GAAP gross profit $13,948  $13,830  $15,215  $27,778  $30,216            GAAP gross profit %  32%  35%  37%  33%  17%           Non-GAAP gross profit %  36%  37%  38%  36%  39%           GAAP total operating expense $57,248  $21,198  $59,537  $78,446  $487,100 Change in fair value of contingent consideration (1)  —   —   —   —   18,700 Settlement charges (2)  (284)  (16,304)  —   (16,588)  — Amortization of acquired intangible assets  (833)  (833)  (833)  (1,666)  (3,616)Disposition of short-read assets (4)  —   45,796   —   45,796   — Restructuring (7)  —   —   (615)  —   (382,376)Non-GAAP total operating expense $56,131  $49,857  $58,089  $105,988  $119,808                       (1)  Change in fair value of contingent consideration during the six months ended June 30, 2025 was due to fair value adjustments of milestone payments payable upon the achievement of a milestone event.

(2)  Balances for the three months ended June 30, 2026 and March 31, 2026 and the six months ended June 30, 2026 include litigation settlement charges and related legal fees in connection with the agreement entered into with Personal Genomics of Taiwan, Inc.

(3)  Balances for the three and six months ended June 30, 2026 include amortization of a patent license acquired in connection with the agreement entered into with Personal Genomics of Taiwan, Inc.

(4)  Balances for the three months ended June 30, 2026 and March 31, 2026 and the six months ended June 30, 2026 include amounts related to the disposition of short-read assets, including the gain on the sale of certain assets related to our short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies, and related non-recurring customer transition costs.

(5)  Interest expense for the three and six months ended June 30, 2026 is related to the liability incurred in connection with the agreement entered into with Personal Genomics of Taiwan, Inc.

(6)  A deferred income tax benefit during the six months ended June 30, 2025 is primarily related to the change in the deferred tax liability balance resulting from the accelerated amortization of acquired intangible assets and IPR&D impairment.

(7)  Restructuring-related costs incurred in connection with the 2025 plan during the three and six months ended June 30, 2025 consist primarily of costs included in cost of revenue related to excess inventory and purchase commitment losses, as well as costs included in operating expenses related to employee separation, accelerated depreciation, IPR&D impairment, and accelerated amortization of acquired intangibles.

Vega SPRQ-Nx chemistry to deliver up to 90 Gb per run at 40% lower cost per gigabase, with single-shift runs and new workflow controls for regulated labs August 05, 2026 09:05 ET  | Source: PacBio

MENLO PARK, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), developer of the world’s most advanced sequencing technologies, today announced the upcoming availability of SPRQ-Nx chemistry and an accompanying software update for its Vega systems. Together, the updates expand the range of HiFi applications laboratories can run in-house and allow customers to match sequencing performance and run time to specific project needs.

Vega SPRQ-Nx brings the same core chemistry used on the high-throughput Revio system to Vega, increasing output from 60 Gb to 90 Gb of HiFi data per run. PacBio is also lowering the U.S. list price per run from $1,100 to $995. The higher output and lower price per run lowers cost per Gb by approximately 40%, letting laboratories run more samples across whole-genome sequencing, targeted sequencing, and synthetic biology applications.

Alongside the new chemistry, the Vega software update introduces two-hour and four-hour sequencing runs. The update also brings Vega in line with the multiomic analysis capabilities available on Revio with a new 5-hydroxymethylcytosine (5hmC) caller and improved 5mC and 6mA callers. Finally, the update adds user login and audit-tracking capabilities designed to support customers’ 21 CFR Part 11 compliance efforts and strengthen data integrity and workflow traceability.

"Vega SPRQ-Nx expands what labs can do on a benchtop HiFi system,” said Christian Henry, President and CEO of PacBio. “Customers get 50% more HiFi data at a lower price per run, along with faster sequencing options, richer DNA-methylation insights, and controls designed for regulated workflows. These advances and cost reductions make it practical to bring many more high-value HiFi applications in-house or for labs to adopt HiFi sequencing for the first time.”

In the first half of 2026, 19% of Vega runs used libraries with inserts shorter than 2 kb, compared with 3.6% of Revio runs, illustrating Vega’s distinct role in targeted and other short-insert workflows. While Revio customers primarily run whole-genome and full-length RNA sequencing, Vega customers are using the benchtop system across a broad mix of short-insert applications. The new sequencing options allow these short-insert runs to complete within a single laboratory shift, helping keep projects moving.

Vega SPRQ-Nx chemistry lowers DNA input requirements from 2 µg to as low as 500 ng, up to a fourfold reduction that gives laboratories greater flexibility with limited samples and broadens the range of projects they can run in-house. The higher yield also enables laboratories to multiplex up to 96 samples per run using PacBio PureTarget repeat expansion and carrier screening panels, increasing throughput and lowering per-sample sequencing costs.

PacBio plans to make the Vega SPRQ-Nx chemistry products available to ship, and the accompanying Vega software update available to download, by the end of the month. For specifications and ordering information, visit www.pacb.com/vega.

About PacBio

PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies, which include our HiFi long-read sequencing, address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.  

PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.  

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including statements relating to the uses, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies, including in connection with the planned Vega SPRQ-Nx sequencing chemistry and updated software; reduction in sequencing costs by as much as 40%; improved workflow controls and support for customers’ compliance efforts, data integrity and workflow traceability; improved methylation calling and epigenetic insight; increase in HiFi data by up to 50%; anticipated lower U.S. list prices; laboratories being able to run more samples across more applications; two- and four-hour sequencing runs; potential increased practicality of customers to bring more high-value HiFi applications in-house or to adopt HiFi sequencing for the first time; lower DNA input requirements; potential increased throughput; planned release time-frame; and other forward-looking statements. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties that could cause actual outcomes and results to differ materially from currently anticipated results, including, challenges inherent in developing, manufacturing, launching, marketing and selling new products; rapidly changing technologies and extensive competition in genomic sequencing; unanticipated increases in costs or expenses, including in connection with increased chip and memory costs; interruptions or delays in the supply of components or materials for, or manufacturing of, PacBio products; potential product performance and quality issues; the possible loss of key suppliers; and, third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption "Risk Factors." These forward-looking statements are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available.

Contacts
Investors:
Jim Gibson: [email protected] or [email protected]
Media:
[email protected]

Posted by Defense World Staff on Jul 30th, 2026

Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Free Report) has been assigned a consensus recommendation of “Reduce” from the five research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $1.8333.

A number of brokerages recently issued reports on PACB. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Friday, July 17th. Zacks Research lowered Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, Barclays upped their price target on Pacific Biosciences of California from $1.00 to $1.50 and gave the company an “underweight” rating in a research report on Monday, May 11th.

Check Out Our Latest Analysis on PACB

Hedge Funds Weigh In On Pacific Biosciences of California Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its holdings in shares of Pacific Biosciences of California by 10.2% in the 4th quarter. ProShare Advisors LLC now owns 63,799 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 5,883 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Pacific Biosciences of California by 5.2% during the 3rd quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock valued at $169,000 after buying an additional 6,564 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Pacific Biosciences of California by 47.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,663 shares of the biotechnology company’s stock worth $39,000 after buying an additional 6,695 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Pacific Biosciences of California by 6.2% in the 1st quarter. AdvisorNet Financial Inc now owns 142,057 shares of the biotechnology company’s stock worth $188,000 after buying an additional 8,290 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Pacific Biosciences of California by 10.1% in the second quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company’s stock worth $130,000 after buying an additional 9,617 shares in the last quarter.

Pacific Biosciences of California Price Performance NASDAQ PACB opened at $1.40 on Monday. The stock has a market capitalization of $434.84 million, a price-to-earnings ratio of -3.26 and a beta of 2.29. The business’s fifty day moving average is $1.46 and its 200-day moving average is $1.59. Pacific Biosciences of California has a one year low of $1.09 and a one year high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB – Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The firm had revenue of $37.18 million for the quarter, compared to analyst estimates of $39.94 million. Pacific Biosciences of California had a negative return on equity of 571.06% and a negative net margin of 80.35%. Research analysts expect that Pacific Biosciences of California will post -0.5 EPS for the current fiscal year.

Pacific Biosciences of California Company Profile (Get Free Report)

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.

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MENLO PARK, Calif., July 28, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will participate in a fireside chat at the Canaccord Genuity 46th Annual Growth Conference on Tuesday, August 11, 2026, at 9:00 AM ET in Boston, Massachusetts.

In the latest trading session, Pacific Biosciences of California (PACB - Free Report) closed at $1.36, marking a -5.56% move from the previous day. This change lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a drop of 0.59%, and the technology-dominated Nasdaq saw a decrease of 0.05%.

Heading into today, shares of the maker of genetic analysis technology had gained 2.86% over the past month, lagging the Medical sector's gain of 6.06% and outpacing the S&P 500's gain of 0.55%.

Analysts and investors alike will be keeping a close eye on the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company's earnings report is set to go public on August 5, 2026. It is anticipated that the company will report an EPS of -$0.14, marking a 7.69% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $40.7 million, indicating a 2.34% upward movement from the same quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.41 per share and a revenue of $165.8 million, representing changes of +22.64% and +3.62%, respectively, from the prior year.

Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Pacific Biosciences of California boasts a Zacks Rank of #3 (Hold).

The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 29% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Pacific Biosciences of California (PACB - Free Report) closed the most recent trading day at $1.49, moving -4.49% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.79%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 1.55%.

Heading into today, shares of the maker of genetic analysis technology had gained 19.08% over the past month, outpacing the Medical sector's gain of 5.5% and the S&P 500's gain of 4.28%.

Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.14, marking a 7.69% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $42.1 million, up 5.86% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.41 per share and revenue of $165.8 million, indicating changes of +22.64% and +3.62%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pacific Biosciences of California is holding a Zacks Rank of #2 (Buy) right now.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Pacific Biosciences of California (PACB - Free Report) ended the recent trading session at $1.66, demonstrating a -1.19% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.72%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.12%.

Shares of the maker of genetic analysis technology have appreciated by 15.86% over the course of the past month, outperforming the Medical sector's gain of 12.48%, and the S&P 500's loss of 0.9%.

The upcoming earnings release of Pacific Biosciences of California will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.14, marking a 7.69% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $42.1 million, indicating a 5.86% increase compared to the same quarter of the previous year.

PACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.41 per share and revenue of $165.8 million. These results would represent year-over-year changes of +22.64% and +3.62%, respectively.

Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Pacific Biosciences of California is holding a Zacks Rank of #2 (Buy) right now.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Pacific Biosciences of California (PACB - Free Report) ended the recent trading session at $1.31, demonstrating a -2.96% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.5% for the day. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.31%.

Coming into today, shares of the maker of genetic analysis technology had gained 11.57% in the past month. In that same time, the Medical sector gained 5.49%, while the S&P 500 lost 0.23%.

The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company is predicted to post an EPS of -$0.14, indicating a 7.69% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $42.1 million, showing a 5.86% escalation compared to the year-ago quarter.

PACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.41 per share and revenue of $165.8 million. These results would represent year-over-year changes of +22.64% and +3.62%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for Pacific Biosciences of California. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.41% higher. Pacific Biosciences of California currently has a Zacks Rank of #2 (Buy).

The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 149, finds itself in the bottom 39% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Key Takeaways PACB launched a joint FFPE workflow with Covaris to improve the sequencing of archived tumor samples.The solution enhances DNA recovery, boosting structural variant detection and mutation phasing accuracy.PACB sees growth potential as workflow expands use of HiFi sequencing in research and clinical settings. PacBio (PACB - Free Report) recently announced a new joint workflow with Covaris, a PerkinElmer company and leader in sample preparation technologies, aimed at enabling highly accurate HiFi long-read sequencing from formalin-fixed, paraffin-embedded (FFPE) tumor samples. The integrated solution combines Covaris’ advanced extraction technology with PacBio’s library preparation and Revio sequencing system, helping overcome long-standing challenges related to DNA damage and fragmentation in archived clinical samples.

The development significantly expands the usability of FFPE samples, which are widely available and critical for cancer research. By delivering higher-quality sequencing data, improved structural variant detection and direct mutation phasing, the workflow positions PacBio to unlock valuable insights from previously underutilized tumor archives and strengthen its role in advancing oncology research.

Likely Trend of PACB Stock Following the NewsShares of PACB have gained 1.9% since the announcement on Thursday. In the year-to-date period, shares of the company lost 12.8% compared with the industry’s 11.4% decline.  The S&P 500 increased 2.8% in the same time frame.

This joint workflow is likely to strengthen PacBio’s long-term growth by expanding the addressable market for its HiFi sequencing platforms, particularly into the vast backlog of FFPE clinical samples that were previously difficult to analyze. By enabling high-quality long-read sequencing from these archived tissues, PacBio can drive higher adoption of its Revio system in both research and clinical settings, increasing instrument utilization and recurring consumables revenue.

PACB currently has a market capitalization of $483.2 million.

Image Source: Zacks Investment Research

More on the NewsA key highlight of the joint workflow is its ability to recover longer DNA fragments, up to 5,000 base pairs, from heavily degraded FFPE samples using Covaris’ Adaptive Focused Acoustics-based truXTRAC extraction technology. These fragments are then processed through PacBio’s Kinnex library preparation, which concatenates shorter DNA pieces into longer molecules optimized for HiFi sequencing on the Revio system. This integrated approach not only improves sequencing efficiency but also ensures higher data quality, addressing a major limitation that has historically restricted the use of FFPE samples in long-read sequencing.

Importantly, performance data underscores the workflow’s potential impact. Across multiple tumor types, including brain, kidney and uterine samples, the solution generated more than 100 million HiFi reads per sample, with mean read lengths ranging from 750 to 1,500 base pairs. This enabled detection of more than 11,000 structural variants and over 5 million small variants per sample, with roughly 60% of variants directly phased into haplotypes. Compared to traditional short-read sequencing, which typically identifies fewer structural variants and relies on indirect phasing methods, this workflow delivers deeper and more actionable genomic insights, making it particularly valuable for complex cancer research applications.

Favorable Industry Prospect for PACBPer a report by Grand View Research, the global long-read sequencing market size was estimated at $538.9 million in 2024 and is projected to reach $1.53 billion by 2030, expanding at a CAGR of 20.12% from 2025 to 2030.

The major factors driving market growth include the increasing prevalence of genetic diseases like cancers and chromosomal disorders.

Recent Developments by PACBIn March, PACB announced that Basecamp Research has selected its HiFi sequencing technology on the Revio system to support the ambitious Trillion Gene Atlas initiative.

The collaboration highlights the growing importance of high-accuracy, long-read sequencing in powering next-generation AI-driven drug discovery. By preserving full genomic context, PacBio’s HiFi sequencing is expected to enable more precise biological insights and improve the training of foundation models like Basecamp’s EDEN platform, ultimately accelerating the design of novel therapeutics at scale.

PACB’s Zacks Rank & Other Key PicksCurrently, PACB sports a Zacks Rank #1 (Strong Buy).

Some other top-ranked stocks from the broader medical space are Phibro Animal Health (PAHC - Free Report) , GE HealthCare Technologies (GEHC - Free Report) and Cardinal Health (CAH - Free Report) .

Phibro Animal Health, currently sporting a Zacks Rank #1, reported second-quarter fiscal 2026 adjusted earnings per share (EPS) of 87 cents, which surpassed the Zacks Consensus Estimate by 27.1%. Revenues of $373.9 million beat the Zacks Consensus Estimate by 4.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12% rise. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 20.1%.

GE HealthCare Technologies, currently carrying a Zacks Rank #2 (Buy), reported fourth-quarter 2025 adjusted EPS of $1.44, which surpassed the Zacks Consensus Estimate by 0.7%. Revenues of $5.7 billion beat the Zacks Consensus Estimate by 1.9%.

GEHC has an estimated long-term earnings growth rate of 9.1% compared with the industry’s 12% rise. The company beat earnings estimates in the trailing four quarters, the average surprise being 7.5%.

Cardinal Health, currently carrying a Zacks Rank #2, reported a second-quarter fiscal 2026 adjusted EPS of $2.63, which surpassed the Zacks Consensus Estimate by 10%. Revenues of $65.6 billion beat the Zacks Consensus Estimate by 0.9%.

CAH has an estimated long-term earnings growth rate of 15% compared with the industry’s 9.3% rise. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 9.3%.

Key Takeaways PACB partners with Lucid Genomics to enhance tertiary analysis for HiFi sequencing workflows.PACB integrates Lucid's platform to streamline variant detection, interpretation and reporting.PacBio aims to reduce workflow complexity and accelerate insights, supporting broader adoption. PacBio (PACB - Free Report) recently announced a compatibility collaboration with Lucid Genomics, bringing the latter into its Compatible partner program to strengthen tertiary analysis capabilities for long-read sequencing. The move expands PacBio’s ecosystem by enabling seamless integration of Lucid’s bioinformatics platform with its HiFi sequencing technology, helping users translate raw sequencing data into meaningful biological and clinical insights more efficiently.

The partnership is aimed at simplifying downstream analysis workflows, covering everything from variant detection and annotation to interpretation and reporting. By offering a validated, end-to-end pipeline optimized for HiFi data, the collaboration is expected to reduce integration complexity for labs and accelerate time to actionable insights, supporting broader adoption of PacBio’s long-read sequencing solutions across research and clinical settings.

Likely Trend of PACB Stock Following the NewsShares of PACB have gained 1.9% in yesterday’s after-market trading since the announcement. In the year-to-date period, shares of the company lost 7.5% compared with the industry’s 11.1% decline.  The S&P 500 increased 4% in the same time frame.

This collaboration strengthens PacBio’s long-term business by deepening its ecosystem and making its HiFi sequencing platform more user-friendly. By integrating a validated tertiary analysis solution, PacBio reduces a key friction point in the workflow, making it easier for labs to move from sequencing to actionable insights. This improves customer retention, attracts new users, especially in clinical and translational research and enhances the overall value proposition of its systems.

PACB currently has a market capitalization of $525.5 million.

Image Source: Zacks Investment Research

More on the NewsTertiary analysis represents a critical step in the sequencing workflow, where processed genomic data is translated into biological and clinically relevant insights. It enables streamlined annotation, interpretation and reporting of genomic variants, helping researchers derive real value from sequencing data and better understand the genetic basis of disease. In this context, the collaboration underscores the interoperability of Lucid Genomics’ platform with PacBio’s HiFi sequencing, allowing users to convert long-read data into actionable insights more efficiently. From variant calling and structural variant detection to comprehensive clinical interpretation, Lucid offers a unified workflow optimized for the accuracy and throughput of HiFi reads.

PacBio’s Compatible partner program plays a central role in this integration by validating third-party solutions that work seamlessly with its instruments and data formats. With Lucid Genomics now part of this ecosystem, customers gain access to a robust set of downstream analysis tools tailored for long-read sequencing. The platform supports a wide range of functionalities, including alignment, phasing, variant annotation, methylation analysis and visualization—all designed to fully leverage the depth and precision of HiFi sequencing. This enables labs to adopt a streamlined, end-to-end pipeline that connects sequencing output directly to research or clinical reporting.

Another important aspect is the focus on scalability and ease of adoption. Lucid Genomics’ cloud-native platform offers a production-ready solution that reduces integration challenges while ensuring compatibility with PacBio data standards. This lowers technical barriers for labs of different sizes and accelerates time to insight. Additionally, both companies plan to collaborate on joint customer engagements, technical enablement and co-marketing initiatives, which should help expand the global footprint of HiFi sequencing and further strengthen PacBio’s partner-driven ecosystem strategy.

Favorable Industry Prospect for PACBPer a report by Grand View Research, the global long-read sequencing market size was estimated at $538.9 million in 2024 and is projected to reach $1.53 billion by 2030, expanding at a CAGR of 20.12% from 2025 to 2030.

The major factors driving market growth include the increasing prevalence of genetic diseases like cancers and chromosomal disorders.

A Recent Development by PACBIn March, PACB announced that Basecamp Research has selected its HiFi sequencing technology on the Revio system to support the ambitious Trillion Gene Atlas initiative.

The collaboration highlights the growing importance of high-accuracy, long-read sequencing in powering next-generation AI-driven drug discovery. By preserving full genomic context, PacBio’s HiFi sequencing is expected to enable more precise biological insights and improve the training of foundation models like Basecamp’s EDEN platform, ultimately accelerating the design of novel therapeutics at scale.

PACB’s Zacks Rank & Key PicksCurrently, PACB carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Phibro Animal Health (PAHC - Free Report) , GE HealthCare Technologies (GEHC - Free Report) and Cardinal Health (CAH - Free Report) .

Phibro Animal Health, currently sporting a Zacks Rank #1 (Strong Buy), reported second-quarter fiscal 2026 adjusted earnings per share (EPS) of 87 cents, which surpassed the Zacks Consensus Estimate by 27.1%. Revenues of $373.9 million beat the Zacks Consensus Estimate by 4.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12% rise. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 20.1%.

GE HealthCare Technologies, currently carrying a Zacks Rank #2 (Buy), reported fourth-quarter 2025 adjusted EPS of $1.44, which surpassed the Zacks Consensus Estimate by 0.7%. Revenues of $5.7 billion beat the Zacks Consensus Estimate by 1.9%.

GEHC has an estimated long-term earnings growth rate of 9.1% compared with the industry’s 12% rise. The company beat earnings estimates in the trailing four quarters, the average surprise being 7.5%.

Cardinal Health, currently carrying a Zacks Rank #2, reported a second-quarter fiscal 2026 adjusted EPS of $2.63, which surpassed the Zacks Consensus Estimate by 10%. Revenues of $65.6 billion beat the Zacks Consensus Estimate by 0.9%.

CAH has an estimated long-term earnings growth rate of 15% compared with the industry’s 9.3% rise. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 9.3%.

Posted by Defense World Staff on Apr 27th, 2026

Autonomix Medical (NASDAQ:AMIX – Get Free Report) and Pacific Biosciences of California (NASDAQ:PACB – Get Free Report) are both small-cap medical companies, but which is the better investment? We will compare the two companies based on the strength of their profitability, institutional ownership, analyst recommendations, dividends, risk, earnings and valuation.

Profitability This table compares Autonomix Medical and Pacific Biosciences of California’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Autonomix Medical N/A -228.82% -186.65% Pacific Biosciences of California -341.47% -326.43% -19.40% Analyst Ratings This is a summary of recent recommendations and price targets for Autonomix Medical and Pacific Biosciences of California, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Autonomix Medical 1 1 1 0 2.00 Pacific Biosciences of California 2 2 1 0 1.80 Autonomix Medical presently has a consensus price target of $2.00, suggesting a potential upside of 442.89%. Pacific Biosciences of California has a consensus price target of $1.67, suggesting a potential upside of 6.84%. Given Autonomix Medical’s stronger consensus rating and higher possible upside, research analysts plainly believe Autonomix Medical is more favorable than Pacific Biosciences of California.

Volatility & Risk Autonomix Medical has a beta of -2.48, indicating that its share price is 348% less volatile than the S&P 500. Comparatively, Pacific Biosciences of California has a beta of 2.33, indicating that its share price is 133% more volatile than the S&P 500.

Insider & Institutional Ownership 10.8% of Autonomix Medical shares are held by institutional investors. 6.2% of Autonomix Medical shares are held by insiders. Comparatively, 2.4% of Pacific Biosciences of California shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a stock will outperform the market over the long term.

Valuation & Earnings This table compares Autonomix Medical and Pacific Biosciences of California”s top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Autonomix Medical N/A N/A -$11.41 million ($3.55) -0.10 Pacific Biosciences of California $160.01 million 3.03 -$546.38 million ($1.84) -0.85 Autonomix Medical has higher earnings, but lower revenue than Pacific Biosciences of California. Pacific Biosciences of California is trading at a lower price-to-earnings ratio than Autonomix Medical, indicating that it is currently the more affordable of the two stocks.

Summary Autonomix Medical beats Pacific Biosciences of California on 8 of the 12 factors compared between the two stocks.

About Autonomix Medical (Get Free Report)

Autonomix Medical, Inc., a development stage medical device development company, focuses on advancing technologies for sensing and treating disorders relating to the peripheral nervous system. Its technology platform includes a catheter-based microchip-enabled sensing array to detect and differentiate peripheral neural signals. The company was incorporated in 2014 and is based in The Woodlands, Texas.

About Pacific Biosciences of California (Get Free Report)

Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. In addition, it provides revio system + sequel systems which conduct, monitor, and analyze single-molecule biochemical reactions in real time; SBB short-read sequencing; onso instrument conducts, monitors, and analyzes SBB biochemical reactions; and SBB consumable, including flow cells, clustering, and sequencing reagent kits. The company serves academic and governmental research institutions; commercial testing and service laboratories; genome centers; public health labs, hospitals and clinical research institutes, and contract research organizations; pharmaceutical companies; and agricultural companies. It markets its products through a sales force and distribution partners in Asia, Australia, Europe, the Middle East, Africa, and Latin America. It has a development and commercialization agreement with Invitae Corporation; and a collaboration with Radboud University Medical to explore genetic causes of rare and genetic diseases. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.

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May 07, 2026 16:05 ET  | Source: PacBio

MENLO PARK, Calif., May 07, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB) today announced financial results for the quarter ended March 31, 2026.

Recent Business Highlights

Selected by Basecamp Research to power its Trillion Gene Atlas, which is expected to result in approximately 100,000 samples being deeply sequenced from over 31 countriesAnnounced a collaboration with DNAstack to power the first global federated HiFi whole genome datasetExpanded SPRQ-Nx beta program to more customers domestically and internationally after receiving positive feedback from initial usersEMEA revenue grew by 17% year-over-year as a result of increased consumables demand reflecting both account expansion and higher utilization, particularly in clinical settingsNamed Lucid Genomics as a PacBio Compatible partner for tertiary analysis of data generated on PacBio's long-read sequencing instrumentsCompleted sale of short-read sequencing assets for net cash proceeds of approximately $48.1 million, strengthening the balance sheet and extending cash runway “We continue to see increasing clinical adoption of HiFi which contributed to another record quarter for consumable revenue. However, instrument revenue, particularly Vega, was lower than we had expected," said Christian Henry, President and Chief Executive Officer. "Nonetheless, we made significant progress on several important initiatives, such as our expansion of the SPRQ-Nx beta program based on the positive early feedback on the new chemistry. Based on this success, we plan to execute a broad commercial rollout to all Revio customers later this month, which we believe will further catalyze consumable growth and Revio instrument demand. Additionally, we continue to prove our ability to win large-scale projects as we were selected by Basecamp Research to power the Trillion Gene Atlas, which has the potential to produce the largest and most diverse high-fidelity metagenomic dataset in the world."

First quarter results:

 Q12026Q12025Revenue(in millions)$37.2$37.2Consumable revenue(in millions)$21.8$20.1Instrument revenue(in millions)$9.7$11.0Service and other revenue(in millions)$5.6$6.0Revio™system placements1512Vega™system placements2728Annualized Revio pull-through per system~$229,000~$236,000Ending cash, cash equivalents, and investments(in millions)$276.0$343.1 Gross margin, operating expenses, net loss, and net loss per share are reported on a GAAP and non-GAAP basis. The non-GAAP measures are described below and reconciled to the corresponding GAAP measures at the end of this release.

We recorded a GAAP gross profit of $12.8 million during the first quarter of 2026 compared to a GAAP gross loss of $1.4 million during the first quarter of 2025. GAAP gross loss for the first quarter of 2025 reflected charges related to our restructuring announced April 9, 2025 and included $7.7 million in restructuring-related inventory charges, $4.3 million of amortization of acquired intangible assets, and a $4.1 million loss on purchase commitments. Non-GAAP gross profit for the first quarter of 2026 was $13.8 million compared to non-GAAP gross profit of $15.0 million for the first quarter of 2025. GAAP gross margin was 35% for the first quarter of 2026 compared to a negative GAAP gross margin of 4% for the first quarter of 2025. Non-GAAP gross margin was 37% for the first quarter of 2026 compared to a non-GAAP gross margin of 40% for the first quarter of 2025. The decline in Non-GAAP gross margin was primarily driven by increased computing component costs, temporary first quarter promotions for Vega and inventory and warranty-related adjustments and charges.

GAAP operating expenses totaled $21.2 million for the first quarter of 2026, compared to $427.6 million for the first quarter of 2025. GAAP operating expenses for the first quarter of 2026 included $16.3 million of litigation settlement charges and related legal fees, and a gain on disposal of assets of approximately $45.8 million. GAAP operating expenses for the first quarter of 2025 include $381.8 million of charges associated with the Company’s restructuring efforts and re-focus on its long-read business, partially offset by an $18.7 million decrease in the change in the fair value of contingent consideration. Non-GAAP operating expenses totaled $49.9 million for the first quarter of 2026, compared to $61.7 million for the first quarter of 2025. GAAP and non-GAAP operating expenses for the first quarter of 2026 and the first quarter of 2025 included non-cash share-based compensation of $3.8 million and $8.0 million, respectively.

GAAP net loss for the first quarter of 2026 was $8.3 million, compared to $426.1 million for the first quarter of 2025. Non-GAAP net loss for the first quarter of 2026 was $35.9 million, compared to $44.4 million for the first quarter of 2025.

GAAP net loss per share for the first quarter of 2026 was $0.03, compared to $1.44 for the first quarter of 2025. Non-GAAP net loss per share for the first quarter of 2026 was $0.12, compared to $0.15 for the first quarter of 2025.

2026 Financial Outlook

PacBio expects revenue for the full year 2026 to be in the range of $165 million to $175 million.

Quarterly Conference Call Information

Management will host a quarterly conference call today at 4:30 p.m. Eastern Time to review financial results for the first quarter ended March 31, 2026. Investors can access the call by dialing 1-888-349-0136 (or 1-412-317-0459 for international callers) and requesting to join the “PacBio Q1 Earnings Call". The call will be webcast live and available for replay at PacBio's website at https://investor.pacificbiosciences.com. 

About PacBio

PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies, which primarily consist of our HiFi long-read sequencing systems, address solutions across a broad set of research applications, including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.

PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.

Statement regarding use of non‐GAAP financial measures

PacBio reports non‐GAAP results for basic net income and loss per share, net income, net loss, gross margins, gross profit (loss) and operating expenses in addition to, and not as a substitute for, or because it believes that such information is superior to, financial measures calculated in accordance with GAAP. PacBio believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of PacBio’s non-GAAP financial measures as tools for comparison.

PacBio's financial measures under GAAP include substantial charges that are listed in the itemized reconciliations between GAAP and non‐GAAP financial measures included in this press release. PacBio excludes recurring charges from its non-GAAP financial statements, including amortization of acquired intangible assets and changes in fair value of contingent consideration, and further excludes infrequent and limited charges including impairment charges, restructuring-related expenses for discrete restructuring events, settlement charges, disposition of short-read assets, benefits from income taxes and other adjustments and rounding differences.

Management has excluded the effects of these items in non‐GAAP measures to assist investors in analyzing and assessing past and future operating performance. In addition, management uses non-GAAP measures to compare PacBio’s performance relative to forecasts and strategic plans and to benchmark its performance externally against competitors.

PacBio encourages investors to carefully consider its results under GAAP, as well as its supplemental non‐GAAP information and the reconciliation between these presentations, to more fully understand its business. A reconciliation of PacBio’s non-GAAP financial measures to their most directly comparable financial measure stated in accordance with GAAP has been provided in the financial statement tables included in this press release. PacBio is unable to reconcile future-looking non-GAAP guidance without unreasonable effort because certain items that impact this measure are out of PacBio's control and/or cannot be reasonably predicted at this time.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements relating to PacBio’s initiatives as well as the expected financial impact and timing of these plans and initiatives, including our expectations regarding SPRQ-Nx; PacBio’s financial guidance and expectations for future periods; new and continued reception of PacBio’s products and their expansion into new or existing markets; our expectations regarding our collaboration with Basecamp Research; developments affecting our industry and the markets in which we compete, including the impact of new products and technologies and tariffs; anticipated results of studies and future customer use and costs of our products and consumables, including the increasing clinical adoption of HiFi; and the availability, uses, accuracy, coverage, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies. Reported results and orders for any instrument system should not be considered an indication of future performance. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties and could cause actual outcomes and results to differ materially from currently anticipated results, including, but not limited to, challenges inherent in developing, manufacturing, launching, marketing and selling new products, and achieving anticipated new sales; potential cancellation of existing instrument orders; assumptions, risks and uncertainties related to the ability to attract new customers and retain and grow sales from existing customers; risks related to PacBio's ability to successfully execute and realize the benefits of acquisitions; the impact of new, increased or enhanced tariffs and export restrictions; rapidly changing technologies and extensive competition in genomic sequencing; unanticipated increases in costs or expenses; high costs of computer memory components; interruptions or delays in the supply of components or materials for, or manufacturing of, PacBio products and products under development; potential product performance and quality issues and potential delays in development timelines; the possible loss of key employees, customers, or suppliers; customers and prospective customers curtailing or suspending activities using PacBio's products; third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights; risks associated with international operations; and other risks associated with general macroeconomic conditions and global economic or political instability, including war and other international conflicts, such as the conflicts in the Middle East. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption “Risk Factors.” These forward-looking statements are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available.

The unaudited condensed consolidated financial statements that follow should be read in conjunction with the notes set forth in PacBio's Quarterly Report on Form 10-Q when filed with the Securities and Exchange Commission.

Contacts

Investors:

[email protected] 

Media:
[email protected] 

Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Statements of Operations
  Three Months Ended(in thousands, except per share amounts)March 31,
2026 December 31,
2025 March 31,
2025Revenue:     Product revenue$31,534  $38,965  $31,113 Service and other revenue 5,644   5,680   6,040 Total revenue 37,178   44,645   37,153 Cost of Revenue:     Cost of product revenue(1)(3)(4) 19,972   24,204   26,333 Cost of service and other revenue 4,182   3,681   3,778 Amortization of acquired intangible assets 183   183   4,345 Loss on purchase commitment(1) —   11   4,068 Total cost of revenue 24,337   28,079   38,524 Gross profit (loss) 12,841   16,566   (1,371)Operating Expense:     Research and development(1) 19,608   22,879   29,053 Sales, general and administrative(1)(3) 31,153   34,051   40,168 Impairment charges(2) —   —   15,000 Settlement charges(3) 15,400   —   — Gain on disposal of assets(4) (45,796)  —   — Amortization of acquired intangible assets(5) 833   833   362,042 Change in fair value of contingent consideration(6) —   —   (18,700)Total operating expense 21,198   57,763   427,563 Operating loss (8,357)  (41,197)  (428,934)Interest expense (1,740)  (1,740)  (1,737)Other income, net 2,006   2,768   4,294 Loss before income taxes (8,091)  (40,169)  (426,377)Income tax provision (benefit) 184   202   (302)Net loss$(8,275) $(40,371) $(426,075)      Net loss per share:     Basic$(0.03) $(0.13) $(1.44)Diluted$(0.03) $(0.13) $(1.44)      Weighted average shares outstanding used in calculating net loss per share:     Basic 305,819   301,907   296,858 Diluted 305,819   301,907   296,858  (1)  Balances for the three months ended December 31, 2005 and March 31, 2025 include restructuring costs. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(2)  In-process research and development ("IPR&D") impairment charge was driven primarily by macroeconomic factors and restructuring initiatives, including the focus on long-read innovation, resulting in changes to the timing and amounts of cash flows.

(3)  Includes litigation settlement charges and related legal fees in connection with the binding term sheet entered into with Personal Genomics of Taiwan, Inc during the three months ended March 31, 2026.

(4)  Balances for the three months ended March 31, 2026 Include amounts related to the disposition of short-read assets, including the gain on the sale of certain assets related to our short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies, and related non-recurring customer transition costs.

(5)  Balance for the three months ended March 31, 2025 includes accelerated amortization of acquired intangible assets related to restructuring initiatives. Refer to the Reconciliation of Non-GAAP Financial Measures table below for additional information on such costs and related amounts.

(6)  Change in fair value of contingent consideration was due to fair value adjustments of a milestone payment payable upon the achievement of a milestone event.

Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Balance Sheets (in thousands) March 31,
2026 December 31,
2025Assets    Cash and investments $275,962 $279,506Accounts receivable, net  29,350  35,448Inventory, net  51,022  49,285Prepaid expenses and other current assets  13,164  10,793Property and equipment, net  24,376  24,146Operating lease right-of-use assets, net  40,846  41,695Restricted cash  1,590  1,552Intangible assets, net  14,104  15,124Goodwill  317,761  317,761Other long-term assets  14,190  8,773Total Assets $782,365 $784,083     Liabilities and Stockholders' Equity    Accounts payable $13,609 $20,770Accrued expenses  33,904  33,646Deferred revenue  19,884  19,865Operating lease liabilities  59,281  57,040Convertible senior notes, net  644,107  645,382Other liabilities  9,214  2,031Stockholders' equity  2,366  5,349Total Liabilities and Stockholders' Equity $782,365 $784,083 Pacific Biosciences of California, Inc.
Reconciliation of Non-GAAP Financial Measures
   Three Months Ended(in thousands, except per share amounts) March 31,
2026 December 31,
2025 March 31,
2025GAAP net loss $(8,275) $(40,371) $(426,075)Change in fair value of contingent consideration(1)  —   —   (18,700)Settlement charges(2)  16,804   —   — Amortization of acquired intangible assets  1,016   1,016   7,128 Disposition of short-read assets(3)  (45,490)  —   — Income tax benefit(4)  —   —   (546)Restructuring(5)  —   1,776   393,788 Non-GAAP net loss $(35,945) $(37,579) $(44,405)       GAAP basic net loss per share $(0.03) $(0.13) $(1.44)Change in fair value of contingent consideration(1)  —   —   (0.06)Settlement charges(2)  0.05   —   — Amortization of acquired intangible assets  —   —   0.02 Disposition of short-read assets(3)  (0.15)  —   — Restructuring(5)  —   0.01   1.33 Other adjustments and rounding differences  0.01   —   — Non-GAAP basic net loss per share $(0.12) $(0.12) $(0.15)       GAAP gross profit (loss) $12,841  $16,566  $(1,371)Amortization of acquired intangible assets  183   183   4,345 Settlement charges(2)  500   —   — Disposition of short-read assets(3)  306   —   — Restructuring(5)  —   1,072   12,027 Non-GAAP gross profit $13,830  $17,821  $15,001        GAAP gross profit (loss) %  35%  37% (4)%       Non-GAAP gross profit %  37%  40%  40%       GAAP total operating expense $21,198  $57,763  $427,563 Change in fair value of contingent consideration(1)  —   —   18,700 Settlement charges(2)  (16,304)  —   — Amortization of acquired intangible assets  (833)  (833)  (2,783)Disposition of short-read assets(3)  45,796   —   — Restructuring(5)  —   (704)  (381,761)Non-GAAP total operating expense $49,857  $56,226  $61,719  (1)  Change in fair value of contingent consideration was due to fair value adjustments of a milestone payment payable upon the achievement of a milestone event.

(2)  Includes litigation settlement charges and related legal fees in connection with the binding term sheet entered into with Personal Genomics of Taiwan, Inc.

(3)  Balance includes amounts related to the disposition of short-read assets, including the gain on the sale of certain assets related to our short-read DNA sequencing technology and related clustering, sequencing reagent, and detection technologies, and related non-recurring customer transition costs.

(4)  A deferred income tax benefit during the three months ended March 31, 2025 is primarily related to the change in the deferred tax liability balance resulting from the accelerated amortization of acquired intangible assets and impairment of IPR&D.

(5)  Restructuring-related costs incurred in connection with the 2025 plan during the three months ended December 31, 2025 and March 31, 2025 consist primarily of costs included in cost of revenue related to excess inventory and purchase commitment losses, as well as costs included in operating expenses related to employee separation, accelerated depreciation, IPR&D impairment, and accelerated amortization of acquired intangibles.

Pacific Biosciences of California, Inc. (PACB) Q1 2026 Earnings Call Transcript

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SAN FRANCISCO--(BUSINESS WIRE)--Blank Bio Announces Seed Financing and Strategic Collaboration with PacBio to Advance RNA Foundation Models for Precision Oncology.

May 21, 2026 16:05 ET  | Source: PacBio

MENLO PARK, Calif., May 21, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will participate in a fireside chat at the Jefferies’ Global Healthcare Conference on Thursday, June 4, 2026, at 2:00 PM ET in New York, New York.

A live webcast of the event can be accessed at the company’s investors page at investor.pacificbiosciences.com. A replay of the webcast will be available for at least 30 days following the event.

About PacBio

PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies, which include our HiFi long-read sequencing, address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.

PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.

Contacts

Investors:
[email protected]

Media:
[email protected]

PACB expands HiFi sequencing reach with commercial availability of SPRQ-Nx for Revio, lowering costs by about 30% and adding AI and epigenetics upgrades.

Key Takeaways PacBio gains from product development and a Q1 earnings beat despite funding challenges.PACB's SPRQ-Nx chemistry boosts yields and targets sub-$300 genome sequencing at scale.PacBio sees research funding uncertainty weighing on Revio and Vega demand through 2026. Pacific Biosciences of California, Inc. (PACB - Free Report) , popularly known as PacBio, has been gaining from its continued product development. The optimism, led by strong first-quarter results, is expected to contribute further. However, concerns about funding headwinds persist.

In the year-to-date period, this Zacks Rank #2 (Buy) company’s shares have lost 17.6% compared with 16.7% decline of the industry. The S&P 500 Composite has improved 11% in the said time frame.

The renowned global provider of sequencing systems has a market capitalization of $490.8 million. The company projects 22.6% growth for 2026 and expects to maintain its strong performance going forward. PacBio’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average surprise of 29.8%.

Image Source: Zacks Investment Research

Factors Favoring PACB’s GrowthSequencing Technologies Strengthen Market Leadership: PacBio differentiates itself in the genomics industry through its proprietary HiFi long-read sequencing, based on Single-Molecule Real-Time (SMRT) technology. This technology enables the high-accuracy, real-time detection of complex genomic structures, such as structural variations, haplotypes and epigenetic modifications.

Per a report by Data Bridge Market Research, the global SMRT market size was valued at $2.88 billion in 2024 and is projected to reach $4.36 billion by 2032, at a CAGR of 5.3%. Additionally, PacBio has expanded its offerings by integrating Sequencing by Binding chemistry with the launch of its Onso system in 2022, a short-read platform delivering ≥90% of bases at Q40+ accuracy, 15 times more precise than traditional sequencing methods. By providing both long-read and short-read technologies, PacBio uniquely serves diverse research and clinical applications while driving down costs and enhancing variant detection.

Robust Product Portfolio Driving Growth: PacBio continues to strengthen its competitive position through innovation in its HiFi sequencing platform. The company's SPRQ-Nx chemistry is gaining traction, delivering higher sequencing yields and enabling human whole-genome sequencing costs below $300 at scale through reusable SMRT Cells. Management plans to extend the technology to the Vega platform later this year, enhancing throughput and workflow efficiency.

PacBio is also advancing its next-generation ultra-high-throughput sequencing platform to target large-scale clinical and population genomics opportunities. Additionally, its collaboration with Basecamp Research to sequence roughly 100,000 metagenomic samples highlights the expanding role of HiFi sequencing in AI-driven biological research and underscores the technology's growing adoption across emerging applications.

Strong Q1 Results: PacBio exited the first quarter of 2026 with mixed results, wherein earnings beat the Zacks Consensus Estimate while revenues missed the same. Stable top-line performance, despite softer instrument sales, reflected continued strength in consumables demand and improving utilization trends across the installed base.

Growth in consumables revenues, expansion across the EMEA region and disciplined expense management were encouraging. The company also reported a significantly narrower operating loss year over year, supported by lower operating expenses and continued restructuring benefits.

A Factor That May Offset the Gains for PACBFunding Headwinds Continue to Weigh on Instrument Demand: PacBio continues to face funding-related headwinds that are weighing on instrument demand, particularly across academic and government research markets. Uncertainty around grant funding and cautious capital spending have pressured purchases of both Revio and Vega systems, with Vega being more exposed to academic budget constraints.

While the company is seeing growing interest from clinical and commercial customers, management does not anticipate a meaningful recovery in research funding through 2026 and recently lowered the high end of its annual revenue outlook due in part to weaker instrument demand. Although the upcoming commercial launch of SPRQ-Nx chemistry could improve the attractiveness of PacBio’s sequencing platforms by lowering costs and boosting throughput, near-term instrument growth is expected to remain dependent on expanding clinical adoption rather than a broad recovery in research spending.

Estimate TrendPacBio has been witnessing a positive estimate revision trend for 2026. Over the past 30 days, the Zacks Consensus Estimate for its adjusted loss per share has narrowed by 13 cents to 41 cents.

The Zacks Consensus Estimate for 2026 revenues is pegged at $165.8 million, indicating a 3.6% increase from the year-ago reported numbers.

Other Key PicksSome other top-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , West Pharmaceutical (WST - Free Report) and Intuitive Surgical (ISRG - Free Report) .

Globus Medical, currently flaunting a Zacks Rank #1 (Strong Buy), reported a first-quarter 2026 adjusted earnings per share (EPS) of $1.12 per share, which surpassed the Zacks Consensus Estimate by 22.1%. Revenues of $759.9 million beat the Zacks Consensus Estimate by 4.0%. You can see the complete list of today’s Zacks #1 Rank stocks here.

GMED has an estimated long-term earnings growth rate of 10.2% compared with the industry’s 12.6% growth. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 26.3%.

West Pharmaceutical, currently sporting a Zacks Rank #1, reported first-quarter 2026 EPS of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%.

WST has an estimated long-term earnings growth rate of 13.9% compared with the industry’s 9.5% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 19.4%.

Intuitive Surgical, carrying a Zacks Rank #2 at present, reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.

ISRG has a long-term estimated growth rate of 14.6% compared with the industry’s 12.6% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.