Pacific Biosciences of California, Inc.
pacb.comWhat Do They Do?
Sells long-read sequencing systems, consumables and related services to research institutions and laboratories, healthcare organizations, and pharmaceutical and agricultural companies.
10-K for FY2025, filed Feb 25, 2026Our HiFi long-read sequencing approach is based on Single-Molecule Real-Time ("SMRT") technology and enables highly accurate detection of…View ↗
Our offerings include sequencing instruments, nanofluidic chips ("SMRT Cells"), reagents for DNA extraction, library preparation, and…View ↗
Our customers include academic and governmental research institutions, commercial testing and service laboratories, genome centers, public…View ↗
How Do They Make Money?
PacBio sells sequencing instruments and consumables, invoicing upon shipment or, for direct instrument sales, delivery; payment is typically due within 30 days. Maintenance agreements generate service revenue over their contract term.
10-K for FY2025, filed Feb 25, 2026Our revenue is generated primarily from the sale of products and services. Product revenue primarily consists of sales of our instruments…View ↗
We account for a contract with a customer when there is a legally enforceable contract between us and the customer, the rights of the…View ↗
We may enter into, or periodically modify, contracts with customers that include a combination of promised products and services, resulting…View ↗
The consideration for contracts with multiple performance obligations is allocated between separate performance obligations based on their…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$160M
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10-K for FY2025, filed Feb 25, 2026
$160M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Instrument revenue
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
34%
FY2022: 38%
|
Instrument revenue, FY2025
$53.8M Sources
|
Sold outright |
|
Consumables revenue
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
51%
FY2022: 47%
|
Consumables revenue, FY2025
$81.9M Sources
|
Sold outright |
|
Service and other revenue
Recurring
10-K for FY2025, filed Feb 25, 2026 |
15%
FY2022: 15%
|
Service and other revenue, FY2025
$24.2M Sources
|
Recurring |
Who Are Their Customers?
PacBio sells through a global sales force and regional distribution partners. Customers either sequence samples in their own laboratories or send them to third-party providers for sequencing.
10-K for FY2025, filed Feb 25, 2026
Do Revenues Turn Into Profits?
No. It lost $546.4M in FY2025.
10-K for FY2025, filed Feb 25, 2026
−$553.9MView ↗
10-K for FY2025, filed Feb 25, 2026
−$546.4MView ↗
10-K for FY2025, filed Feb 25, 2026
−$113.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$44.7MView ↗
- ▲ +7% (Loss)
- vs −$41.9M in Q2 FY2025
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Aug 5, 2026
Names Mark Van Oene CEO; forecasts revenue of $155 million to $165 million
Also approved workforce reductions and expects annualized operating expense savings of $30 million to $40 million by the end of 2027.
Sources
8-K, filed Aug 5, 2026
On July 30, 2026, the Board of Directors (the “Board”) of the Company approved a restructuring plan to continue to better align the…View ↗
Growing. Revenue grew 23% in 4 years, from $130.5M in FY2021 to $160M in FY2025, about 5% a year.
Short-read sequencing
The older report described SBB short-read sequencing as an emerging technology and Onso as a planned system. The latest report focuses on HiFi long-read sequencing and says it sold assets tied to short-read sequencing.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 25, 2026Our products and technology under development stem from two highly differentiated core technologies focused on accuracy, quality, and…View ↗
On October 25, 2022, we announced two new sequencing platforms, RevioTM and OnsoTM.View ↗
Revio is a new long-read sequencing system designed to enable the use of HiFi sequencing for large studies in human genetics, cancer…View ↗
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