$PACB
PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Stock $pacb

$pacb Overview Financials Valuation SEC Filings Company Website

2021 Q4 Form 10-K Financial Statement

#000129913022000030 Filed on February 28, 2022

Income Statement

Concept	2021 Q4	2021	2020 Q4
Revenue	$36.02M	$130.5M	$27.14M
YoY Change	32.72%	65.43%	-2.83%
Cost Of Revenue	$19.25M	$71.65M	$15.74M
YoY Change	22.32%	54.67%	4.93%
Gross Profit	$16.77M	$58.86M	$11.40M
YoY Change	47.07%	80.74%	-11.85%
Gross Profit Margin	46.55%	45.1%	42.0%
Selling, General & Admin	$37.32M	$124.1M	$17.95M
YoY Change	107.91%	70.5%	8.26%
% of Gross Profit	222.59%	210.88%	157.46%
Research & Development	$42.58M	$112.9M	$17.43M
YoY Change	144.27%	75.99%	22.14%
% of Gross Profit	253.94%	191.81%	152.89%
Depreciation & Amortization	$2.483M	$7.200M	$1.600M
YoY Change	55.19%	12.5%	-10.61%
% of Gross Profit	14.81%	12.23%	14.04%
Operating Expenses	$81.04M	$269.3M	$35.37M
YoY Change	129.12%	96.64%	14.65%
Operating Profit	-$64.27M	-$210.4M	-$23.97M
YoY Change	168.14%	101.6%	33.78%
Interest Expense	-$3.479M	$12.53M	$0.00
YoY Change		4592.88%	-100.0%
% of Operating Profit
Other Income/Expense, Net	$1.000K	$93.00K	$98.00M
YoY Change	-100.0%	-95.47%	19500.0%
Pretax Income	-$68.15M	-$274.9M	$74.94M
YoY Change	-190.94%	-1034.84%	-83366.67%
Income Tax	$1.175M	-$93.65M
% Of Pretax Income
Net Earnings	-$69.33M	-$181.2M	$74.94M
YoY Change	-192.51%	-716.34%	-82451.65%
Net Earnings / Revenue	-192.48%	-138.85%	276.12%
Basic Earnings Per Share		-$0.89
Diluted Earnings Per Share	-$313.8K	-$0.89	$332.6K
COMMON SHARES
Basic Shares Outstanding	220.6M	204.1M	180.2M
Diluted Shares Outstanding		204.1M

Balance Sheet

Concept	2021 Q4	2021	2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.056B	$1.044B	$336.8M
YoY Change	213.46%	227.6%	460.6%
Cash & Equivalents	$460.7M	$460.7M	$81.61M
Short-Term Investments	$595.1M	$583.7M	$255.2M
Other Short-Term Assets	$7.894M	$7.894M	$5.700M
YoY Change	38.49%	38.49%	67.65%
Inventory	$24.60M	$24.60M	$14.23M
Prepaid Expenses
Receivables	$24.24M	$24.24M	$16.84M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$1.101B	$1.101B	$355.6M
YoY Change	209.67%	209.66%	338.75%
LONG-TERM ASSETS
Property, Plant & Equipment	$32.50M	$79.12M	$24.90M
YoY Change	30.54%	44.12%	-17.2%
Goodwill	$410.0M
YoY Change
Intangibles	$411.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets	$1.170M	$5.762M	$43.00K
YoY Change	2620.93%	64.63%	2.38%
Total Long-Term Assets	$905.8M	$905.8M	$58.39M
YoY Change	1451.27%	1451.09%	-12.77%
TOTAL ASSETS
Total Short-Term Assets	$1.101B	$1.101B	$355.6M
Total Long-Term Assets	$905.8M	$905.8M	$58.39M
Total Assets	$2.007B	$2.007B	$414.0M
YoY Change	384.8%	384.78%	179.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$11.00M	$11.00M	$3.579M
YoY Change	207.4%	205.61%	-57.23%
Accrued Expenses	$36.26M	$43.97M	$17.35M
YoY Change	109.0%	102.63%	31.02%
Deferred Revenue	$10.98M		$8.722M
YoY Change	25.85%		14.76%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due			$0.00
YoY Change			-100.0%
Total Short-Term Liabilities	$71.71M	$71.71M	$38.50M
YoY Change	86.25%	86.26%	-21.67%
LONG-TERM LIABILITIES
Long-Term Debt	$896.1M	$896.1M	$0.00
YoY Change
Other Long-Term Liabilities	$3.471M	$248.2M	$752.0K
YoY Change	361.57%	520.52%	-98.29%
Total Long-Term Liabilities	$3.471M	$1.144B	$752.0K
YoY Change	361.57%	2760.69%	-98.29%
TOTAL LIABILITIES
Total Short-Term Liabilities	$71.71M	$71.71M	$38.50M
Total Long-Term Liabilities	$3.471M	$1.144B	$752.0K
Total Liabilities	$1.216B	$1.216B	$78.49M
YoY Change	1449.24%	1449.02%	-15.66%
SHAREHOLDERS EQUITY
Retained Earnings	-$1.218B		-$1.037B
YoY Change	17.48%		-2.75%
Common Stock	$221.0K		$192.0K
YoY Change	15.1%		25.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$791.0M	$791.0M	$335.5M
YoY Change
Total Liabilities & Shareholders Equity	$2.007B	$2.007B	$414.0M
YoY Change	384.8%	384.78%	179.74%

Cashflow Statement

Concept	2021 Q4	2021	2020 Q4
OPERATING ACTIVITIES
Net Income	-$69.33M	-$181.2M	$74.94M
YoY Change	-192.51%	-716.34%	-82451.65%
Depreciation, Depletion And Amortization	$2.483M	$7.200M	$1.600M
YoY Change	55.19%	12.5%	-10.61%
Cash From Operating Activities	-$31.71M	-$111.2M	-$14.27M
YoY Change	122.2%	-670.07%	-21.51%
INVESTING ACTIVITIES
Capital Expenditures	-$2.842M	$5.931M	-$70.00K
YoY Change	3960.0%	470.84%	-50.0%
Acquisitions
YoY Change
Other Investing Activities	$68.60M	-$672.6M	-$98.42M
YoY Change	-169.7%	208.14%	2909.79%
Cash From Investing Activities	$65.75M	-$678.5M	-$98.49M
YoY Change	-166.76%	209.38%	2788.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$31.81M
YoY Change		-31.39%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	1.324M	1.170B	125.9M
YoY Change	-98.95%	364.42%	594.32%
NET CHANGE
Cash From Operating Activities	-31.71M	-111.2M	-14.27M
Cash From Investing Activities	65.75M	-678.5M	-98.49M
Cash From Financing Activities	1.324M	1.170B	125.9M
Net Change In Cash	35.37M	379.9M	13.12M
YoY Change	169.58%	630.24%	-479.19%
FREE CASH FLOW
Cash From Operating Activities	-$31.71M	-$111.2M	-$14.27M
Capital Expenditures	-$2.842M	$5.931M	-$70.00K
Free Cash Flow	-$28.87M	-$117.1M	-$14.20M
YoY Change	103.28%	-734.27%	-21.29%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
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CY2021Q4	us-gaap	Preferred Stock Value PreferredStockValue
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CY2021	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2021	dei	Entity Central Index Key EntityCentralIndexKey	0001299130
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CY2021	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2021	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
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CY2020Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2021Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
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CY2020	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations
CY2021	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2021	dei	Document Period End Date DocumentPeriodEndDate	2021-12-31
CY2021	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2021
CY2021	dei	Document Transition Report DocumentTransitionReport	false
CY2021	dei	Entity File Number EntityFileNumber	001-34899
CY2021	dei	Entity Registrant Name EntityRegistrantName	Pacific Biosciences of California, Inc.
CY2021	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2021	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	16-1590339
CY2021	dei	Entity Address Address Line1 EntityAddressAddressLine1	1305 O’Brien Drive
CY2021	dei	Entity Address City Or Town EntityAddressCityOrTown	Menlo Park
CY2021	dei	Entity Address State Or Province EntityAddressStateOrProvince	CA
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CY2021	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	94025
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CY2021	dei	Local Phone Number LocalPhoneNumber	521-8000
CY2021	dei	Security12b Title Security12bTitle	Common Stock, par value $0.001 per share
CY2021	dei	Trading Symbol TradingSymbol	PACB
CY2021	dei	Security Exchange Name SecurityExchangeName	NASDAQ
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CY2021	dei	Auditor Firm AuditorFirmId	42
CY2021	dei	Auditor Name AuditorName	Ernst & Young LLP
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CY2020	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	46360000
CY2020	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	187230000
CY2020	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	17533000
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	335491000
CY2021	us-gaap	Net Income Loss NetIncomeLoss	-181223000
CY2021	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-1172000
CY2021	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	31806000
CY2021	pacb	Stock Issued During Period In Private Placement Net Of Issuance Costs StockIssuedDuringPeriodInPrivatePlacementNetOfIssuanceCosts	294845000
CY2021	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	237885000
CY2021	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	73355000
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	790987000
CY2021	us-gaap	Net Income Loss NetIncomeLoss	-181223000
CY2020	us-gaap	Net Income Loss NetIncomeLoss	29403000
CY2019	us-gaap	Net Income Loss NetIncomeLoss	-84134000
CY2021	us-gaap	Gain Loss On Contract Termination GainLossOnContractTermination	-52000000
CY2020	us-gaap	Gain Loss On Contract Termination GainLossOnContractTermination	34000000
CY2019	us-gaap	Gain Loss On Contract Termination GainLossOnContractTermination	18000000
CY2021	us-gaap	Depreciation Depreciation	7199000
CY2020	us-gaap	Depreciation Depreciation	6428000
CY2019	us-gaap	Depreciation Depreciation	7265000
CY2021	pacb	Amortization Of Intangible Assets And Research Development Expense AmortizationOfIntangibleAssetsAndResearchDevelopmentExpense	381000
CY2021	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	4005000
CY2020	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	2876000
CY2019	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	2683000
CY2021	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	539000
CY2020	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	129000
CY2019	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	1212000
CY2021	us-gaap	Share Based Compensation ShareBasedCompensation	73355000
CY2020	us-gaap	Share Based Compensation ShareBasedCompensation	17533000
CY2019	us-gaap	Share Based Compensation ShareBasedCompensation	16401000
CY2019	us-gaap	Gain Loss On Sale Of Derivatives GainLossOnSaleOfDerivatives	16000
CY2021	us-gaap	Investment Income Net Amortization Of Discount And Premium InvestmentIncomeNetAmortizationOfDiscountAndPremium	-4011000
CY2020	us-gaap	Investment Income Net Amortization Of Discount And Premium InvestmentIncomeNetAmortizationOfDiscountAndPremium	107000
CY2019	us-gaap	Investment Income Net Amortization Of Discount And Premium InvestmentIncomeNetAmortizationOfDiscountAndPremium	913000
CY2021	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	1143000
CY2021	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-54000
CY2019	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-194000
CY2021	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-93649000
CY2021	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	7166000
CY2020	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1603000
CY2019	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	6671000
CY2021	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	12431000
CY2020	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	1096000
CY2019	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-3915000
CY2021	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	1024000
CY2020	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	1063000
CY2019	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	523000
CY2021	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	6363000
CY2020	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-5072000
CY2019	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	1713000
CY2021	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	15320000
CY2020	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	4102000
CY2019	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	2333000
CY2021	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-25736000
CY2020	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-729000
CY2019	us-gaap	Increase Decrease In Contract With Customer Asset IncreaseDecreaseInContractWithCustomerAsset	-2134000
CY2021	us-gaap	Operating Lease Payments OperatingLeasePayments	4990000
CY2020	us-gaap	Operating Lease Payments OperatingLeasePayments	3802000
CY2019	us-gaap	Operating Lease Payments OperatingLeasePayments	3428000
CY2021	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	-803000
CY2020	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	5046000
CY2019	us-gaap	Increase Decrease In Other Current Liabilities IncreaseDecreaseInOtherCurrentLiabilities	-2477000
CY2021	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-111180000
CY2020	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	19503000
CY2019	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-78312000
CY2021	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	5931000
CY2020	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1039000
CY2019	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2836000
CY2021	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	988046000
CY2020	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	373283000
CY2019	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	57727000
CY2021	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	212734000
CY2020	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	1400000
CY2019	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	1500000
CY2021	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	422505000
CY2020	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	153600000
CY2019	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	121110000
CY2021	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-678531000
CY2020	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-219322000
CY2019	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	62047000
CY2021	pacb	Proceeds From Repayments Of Contract Termination ProceedsFromRepaymentsOfContractTermination	-52000000
CY2020	pacb	Proceeds From Repayments Of Contract Termination ProceedsFromRepaymentsOfContractTermination	34000000
CY2019	pacb	Proceeds From Repayments Of Contract Termination ProceedsFromRepaymentsOfContractTermination	18000000
CY2021	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	895536000
CY2021	pacb	Proceeds From Issuance Of Common Stock Net Of Issuance Costs ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts	294845000
CY2020	pacb	Proceeds From Issuance Of Common Stock Net Of Issuance Costs ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts	187479000
CY2021	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	31806000
CY2020	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	46360000
CY2019	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	8548000
CY2021	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	361000
CY2020	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	16000000
CY2021	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-245000
CY2021	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1169581000
CY2020	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	251839000
CY2019	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	26548000
CY2021	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	379870000
CY2020	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	52020000
CY2019	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	10283000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	85947000
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	33927000
CY2017Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	23644000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	465817000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	85947000
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	33927000
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	460725000
CY2020Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	81611000
CY2019Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	29627000
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	5092000
CY2020Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	4336000
CY2019Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	4300000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	465817000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	85947000
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	33927000
CY2021	us-gaap	Interest Paid Net InterestPaidNet	6928000
CY2020	us-gaap	Interest Paid Net InterestPaidNet	491000
CY2019	us-gaap	Interest Paid Net InterestPaidNet	1400000
CY2021	pacb	Inventory Transferred To From Property And Equipment InventoryTransferredToFromPropertyAndEquipment	2586000
CY2020	pacb	Inventory Transferred To From Property And Equipment InventoryTransferredToFromPropertyAndEquipment	1097000
CY2019	pacb	Inventory Transferred To From Property And Equipment InventoryTransferredToFromPropertyAndEquipment	2062000
CY2021	pacb	Inventory Transferred From Property And Equipment InventoryTransferredFromPropertyAndEquipment	383000
CY2020	pacb	Inventory Transferred From Property And Equipment InventoryTransferredFromPropertyAndEquipment	919000
CY2019	pacb	Inventory Transferred From Property And Equipment InventoryTransferredFromPropertyAndEquipment	1536000
CY2021	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	2576000
CY2021	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	237885000
CY2021	us-gaap	Basis Of Accounting BasisOfAccounting	Basis of Presentation Our consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or U.S. GAAP, as set forth in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC. The consolidated financial statements include the accounts of Pacific Biosciences and our wholly owned subsidiaries. All intercompany transactions and balances have been eliminated.
CY2021	us-gaap	Use Of Estimates UseOfEstimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. On an ongoing basis, we evaluate our significant estimates including, but not limited to, the valuation of inventory, the determination of stand-alone selling prices for revenue recognition, the fair value of contingent consideration, the valuation of acquired intangible assets, the fair value of certain equity awards, the useful lives assigned to long-lived assets, the computation of provisions for income taxes, the borrowing rate used in calculating the operating lease right-of-use assets and operating lease liabilities, the probability associated with variable payments under partnership development agreements, and the valuations related to our convertible senior notes. While the extent of the impact of the COVID-19 pandemic on our business is highly uncertain, we considered the impact on our assumptions and estimates used to determine the results reported and asset valuations as of December 31, 2021. Actual results could differ materially from these estimates.
CY2021	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	Concentration and Credit Risks Financial instruments that potentially subject us to credit risk consist principally of interest-bearing investments and trade receivables. We maintain cash, cash equivalents and investments with various major financial institutions. The counterparties to the agreements relating to our investment securities consist of various major corporations, financial institutions, municipalities and government agencies of high credit standing. At December 31, 2021, most of our cash was deposited with U.S. financial institutions. Our investment policy generally restricts the amount of credit exposure to any one issuer. There is no limit to the percentage of the portfolio that may be maintained in securities issued by the U.S. Treasury and U.S. Government Agencies, or other securities fully backed by US Treasury or Government agencies. We have not experienced significant credit losses from financial institutions.Our trade receivables are derived from net revenue to customers and distributors located in the United States and other countries. We perform credit evaluations of our customers’ financial condition and, generally, require no collateral from our customers. The allowance for doubtful accounts is based on our assessment of the collectability of customer accounts. We regularly review our trade receivable including consideration of factors such as historical experience, the age of the accounts receivable balances, customer creditworthiness, customer industry, and current and forecasted economic conditions that may affect a customer’s ability to pay. We have not experienced any significant credit losses to date. Although we have historically not experienced significant credit losses, our exposure to credit losses may increase if our customers are adversely affected by changes in economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the current COVID-19 pandemic, or other customer-specific factors. For the years ended December 31, 2021, 2020 and 2019, one customer, Gene Company Limited, accounted for approximately 13%, 14% and 17% our total revenue, respectively. As of December 31, 2021 and 2020, 53% and 43% of our accounts receivable were from domestic customers, respectively. As of December 31, 2021, no customer represented 10% of greater of our net accounts receivable. As of December 31, 2020, two customers, Berry Genomics Co., Ltd and Gene Company Limited, represented approximately 15% and 12% of our net accounts receivable, respectively. We currently purchase several key parts and components used in the manufacture of our products from a limited number of suppliers. Generally, we have been able to obtain an adequate supply of such parts and components but in certain instances have incurred additional costs to secure supply constrained materials. An extended interruption in the supply of parts and components currently obtained from our suppliers could adversely affect our business and consolidated financial statements.
CY2021Q3	pacb	Issuance Of Common Stock In Private Placement Net Of Issuance Costs Shares IssuanceOfCommonStockInPrivatePlacementNetOfIssuanceCostsShares	11214953
CY2021Q3	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	11400000
CY2021	pacb	Merger Termination MergerTermination	NOTE 4. TERMINATION OF MERGER WITH ILLUMINAOn November 1, 2018, we entered into an Agreement and Plan of Merger (as amended, the “Illumina Merger Agreement”) with Illumina, Inc. (“Illumina”) and FC Ops Corp., a wholly owned subsidiary of Illumina (“Illumina Merger Sub”). On January 2, 2020, we, Illumina and Illumina Merger Sub, entered into an agreement to terminate the Merger Agreement (the “Termination Agreement”). Continuation Advances from IlluminaAs part of the Termination Agreement, Illumina paid us cash payments (“Continuation Advances”) of $18.0 million during the fourth quarter of 2019 and $34.0 million during the first quarter of 2020. We recorded the $34.0 million and $18.0 million as non-operating income in the Consolidated Statements of Operations and Comprehensive (Loss) Income for the years ended December 31, 2020 and 2019, respectively. Up to the full $52.0 million of Continuation Advances paid to us were repayable without interest to Illumina if, within two years of March 31, 2020, we entered into, or consummated a Change of Control Transaction or raised at least $100 million in a single equity or debt financing (that may have multiple closings), with the amount repayable dependent on the amount raised by us. Resulting from the issuance and sale of $900 million of 1.50% Convertible Senior Notes due February 15, 2028, $52.0 million of Continuation Advances were paid without interest to Illumina in February 2021 and recorded a non-operating expense in the Consolidated Statements of Operations and Comprehensive (Loss) Income for the year ended December 31, 2021. Please refer to Note 1. Organization and Significant Accounting Policies for the accounting treatment of the Continuation Advances.Reverse Termination Fee from IlluminaAs part of the Termination Agreement, Illumina paid us a $98.0 million termination fee (the “Reverse Termination Fee”), from which we paid our financial advisor associated fees of $6.0 million in April 2020. Pursuant to the Termination Agreement, in the event that, on or prior to September 30, 2020, we entered into a definitive agreement providing for, or consummated, a Change of Control Transaction, then we may have been required to repay the Reverse Termination Fee (without interest) to Illumina in connection with the consummation of such Change of Control Transaction. As indicated in ASC 450, Contingencies, a gain contingency usually is not recognized in the financial statements until the period in which all contingencies are resolved and the gain is realizable. As such, we deferred the gain from the Reverse Termination Fee from Illumina until the date when the associated contingency lapsed. On October 1, 2020, the contingency clauses lapsed and we recorded the $98.0 million as a part of non-operating income in the fourth quarter of 2020.
CY2020Q1	pacb	Continuation Advances Payable Per Agreement To Repay Advance If Change In Control Transaction Or Single Equity Or Debt Financing Takes Place ContinuationAdvancesPayablePerAgreementToRepayAdvanceIfChangeInControlTransactionOrSingleEquityOrDebtFinancingTakesPlace	52000000.0
CY2021	pacb	Merger Agreement Continuation Advances Repayable Minimum Company Must Raise In Equity Or Debt Financing In Single Transaction MergerAgreementContinuationAdvancesRepayableMinimumCompanyMustRaiseInEquityOrDebtFinancingInSingleTransaction	100000000
CY2021	us-gaap	Gain Loss On Contract Termination GainLossOnContractTermination	-52000000.0
CY2020Q2	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	98000000.0
CY2020Q2	pacb	Payments For Advisor Fees PaymentsForAdvisorFees	6000000.0
CY2020Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	98000000.0
CY2021Q4	us-gaap	Cash And Cash Equivalents Fair Value Disclosure CashAndCashEquivalentsFairValueDisclosure	460725000
CY2020Q4	us-gaap	Cash And Cash Equivalents Fair Value Disclosure CashAndCashEquivalentsFairValueDisclosure	81611000
CY2021Q4	us-gaap	Investments Fair Value Disclosure InvestmentsFairValueDisclosure	583675000
CY2020Q4	us-gaap	Investments Fair Value Disclosure InvestmentsFairValueDisclosure	237203000
CY2021Q4	pacb	Short Term Restricted Cash Fair Value Disclosure ShortTermRestrictedCashFairValueDisclosure	500000
CY2020Q4	pacb	Short Term Restricted Cash Fair Value Disclosure ShortTermRestrictedCashFairValueDisclosure	836000
CY2021Q4	pacb	Long Term Restricted Cash Fair Value Disclosure LongTermRestrictedCashFairValueDisclosure	4592000
CY2020Q4	pacb	Long Term Restricted Cash Fair Value Disclosure LongTermRestrictedCashFairValueDisclosure	3500000
CY2021Q4	us-gaap	Assets Fair Value Disclosure AssetsFairValueDisclosure	1049492000
CY2020Q4	us-gaap	Assets Fair Value Disclosure AssetsFairValueDisclosure	323150000
CY2021Q4	us-gaap	Liabilities Fair Value Disclosure LiabilitiesFairValueDisclosure	169717000
CY2020Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue	0
CY2021Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue	0
CY2021Q4	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	595063000
CY2021Q4	us-gaap	Available For Sale Securities Debt Securities Noncurrent AvailableForSaleSecuritiesDebtSecuritiesNoncurrent	122022000
CY2021Q4	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	717085000
CY2020Q4	us-gaap	Restricted Cash Current RestrictedCashCurrent	800000
CY2021Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	7993000
CY2020Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	3531000
CY2021Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	8611000
CY2020Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	6651000
CY2021Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	7995000
CY2020Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	4048000
CY2021Q4	us-gaap	Inventory Net InventoryNet	24599000
CY2020Q4	us-gaap	Inventory Net InventoryNet	14230000
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	88790000
CY2020Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	74790000
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	56286000
CY2020Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	49891000
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	32504000
CY2020Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	24899000
CY2021	us-gaap	Depreciation Depreciation	7200000
CY2020	us-gaap	Depreciation Depreciation	6400000
CY2018	us-gaap	Depreciation Depreciation	7300000
CY2021	pacb	Annual Decrease In Long Term Restricted Cash AnnualDecreaseInLongTermRestrictedCash	500000
CY2021Q4	us-gaap	Goodwill Goodwill	409974000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	11360000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	381000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	10979000
CY2021	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	400000
CY2019	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0
CY2020	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0
CY2021Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	913000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	838000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	733000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	733000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	733000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	7029000
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	10979000
CY2021Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	25282000
CY2020Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	15261000
CY2021Q4	pacb	Accrued Product Development Costs Current AccruedProductDevelopmentCostsCurrent	1936000
CY2020Q4	pacb	Accrued Product Development Costs Current AccruedProductDevelopmentCostsCurrent	415000
CY2021Q4	pacb	Accrued Tenant Improvements Current AccruedTenantImprovementsCurrent	5100000
CY2021Q4	us-gaap	Product Liability Contingency Accrual Present Value ProductLiabilityContingencyAccrualPresentValue	108000
CY2020Q4	us-gaap	Product Liability Contingency Accrual Present Value ProductLiabilityContingencyAccrualPresentValue	218000
CY2021Q4	us-gaap	Product Warranty Accrual Classified Current ProductWarrantyAccrualClassifiedCurrent	594000
CY2020Q4	us-gaap	Product Warranty Accrual Classified Current ProductWarrantyAccrualClassifiedCurrent	161000
CY2021Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	1640000
CY2020Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	726000
CY2021Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1601000
CY2020Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	569000
CY2021Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	36261000
CY2020Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	17350000
CY2021	pacb	Contract With Customer Liability Noncurrent Recognition Period ContractWithCustomerLiabilityNoncurrentRecognitionPeriod	P5Y
CY2020	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	8600000
CY2021	pacb	Percentage Of Fee To Prepay Debt PercentageOfFeeToPrepayDebt	4
CY2021Q4	us-gaap	Notes Payable NotesPayable	3900000
CY2021Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	2300000
CY2021Q4	us-gaap	Notes Payable Current NotesPayableCurrent	1600000
CY2021	us-gaap	Interest Expense Borrowings InterestExpenseBorrowings	200000
CY2021Q4	pacb	Accrued Employee Stock Purchase Plan Liability Current AccruedEmployeeStockPurchasePlanLiabilityCurrent	3598000
CY2020Q4	pacb	Accrued Employee Stock Purchase Plan Liability Current AccruedEmployeeStockPurchasePlanLiabilityCurrent	2037000
CY2021Q4	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	2161000
CY2020Q4	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	2482000
CY2021Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	5759000
CY2020Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	4519000
CY2021Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	900000000
CY2021Q4	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	3933000
CY2021Q4	us-gaap	Long Term Debt LongTermDebt	896067000
CY2021	pacb	Contractual Interest Expense ContractualInterestExpense	11812000
CY2021	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	532000
CY2021	us-gaap	Interest Expense Debt InterestExpenseDebt	12344000
CY2021	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	NOTE 8. COMMITMENTS AND CONTINGENCIES LeasesWe record operating lease right-of-use assets and liabilities on our Consolidated Balance Sheets for all leases with a term of more than 12 months. In connection with the acquisition of Omniome, we acquired $18.1 million in right-of-use assets and liabilities on our Consolidated Balance Sheets. The operating lease right-of-use assets and liabilities are calculated as the present value of remaining minimum lease payments over the remaining lease term using our estimated secured incremental borrowing rates at the commencement date. Lease payments included in the measurement of the lease liability comprise the fixed rent per the term of the Lease. All of our leases are operating leases. Lease payments comprise the base rent per the term of the Lease. Lease expense for these leases is recognized on a straight-line basis over the lease term, with variable lease payments, such as common area maintenance fees, recognized in the period those payments are incurred. We often have options to renew lease terms for buildings. For the O’Brien Lease, the renewal option is 5 years and the rent will be based on fair market value at the time of renewal and was not included in the lease term. In addition, certain lease arrangements may be terminated prior to their original expiration date at our discretion. We evaluate renewal and termination options at the lease commencement date to determine if we are reasonably certain to exercise the option on the basis of economic factors. The following table presents information as to the amount and timing of cash flows arising from our operating leases as of December 31, 2021: Maturity of Lease LiabilitiesAmount Years ending December 31,(in thousands)2022$ 11,3262023 11,8512024 12,0402025 12,3282026 12,437Thereafter 9,930Total undiscounted operating lease payments 69,912Less: imputed interest (12,232)Present value of operating lease liabilities 57,680 Balance Sheet Classification Operating lease liabilities, current 7,710Operating lease liabilities, non-current 49,970Total operating lease liabilities 57,680We use our incremental borrowing rate to determine the present value of lease payments, as the implicit rates in our leases are not readily determinable. The weighted average discount rate used to measure our operating lease liabilities was 6.7%. The weighted average remaining lease term for our operating leases as of December 31, 2021 was 5.7 years.Cash FlowsCash paid for amounts included in the present value of operating lease liabilities was $8.2 million and $7.2 million for the years ended December 31, 2021 and 2020, respectively and were included in operating cash flow. Operating Lease CostsOperating lease costs were $7.2 million and $6.2 million for the years ended December 31, 2021 and 2020, respectively. For both 2021 and 2020 the total lease costs primarily related to our operating leases, but also included immaterial amounts for variable leases.Contingencies We may become involved in legal proceedings, claims and assessments from time to time in the ordinary course of business. We accrue liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.Legal ProceedingsU.S. District Court Proceedings On September 26, 2019, Personal Genomics of Taiwan, Inc. (“PGI”) filed a complaint in the U.S. District Court for the District of Delaware against us for patent infringement (C.A. No. 19-cv-1810) (the “PGI District Court matter”). The matter from this complaint is based on PGI’s U.S. Patent No. 7,767,441 (the “‘441 Patent”). We plan to vigorously defend in this matter. On November 20, 2019, we filed our answer to the complaint, denying infringement and seeking a declaratory judgement of invalidity of the ‘441 Patent. On June 22, 2020, we filed a petition requesting institution of an inter-partes review (IPR) to the Patent Trial and Appeals Board (the “Board”) at the United States Patent Office requesting the Board to find a set of claims in the ‘441 Patent invalid. On June 27, 2020, we filed a second petition requesting institution of an IPR requesting the Board to find another set of claims in the ‘441 Patent invalid. The two petitions (the “PacBio IPR Petitions”) requesting IPRs assert that all of the claims relevant to the PGI complaint are invalid. On January 19, 2021, the Board ordered that both PacBio IPR Petitions are instituted on all grounds presented. On January 18, 2022, the Board issued decisions on the two IPRs. In one IPR, all challenged claims were found unpatentable including PGI’s core device claims. In the second IPR, the board did not find the disputed claims unpatentable. We are appealing the decision in the second IPR to the U.S. Court of Appeals for the Federal Circuit.On August 19, 2020, the court ordered a stay of the PGI District Court matter based on a joint stipulation by the parties pending a final written decision on the IPRs. Following the final decision on the IPRs described above, on February 2, 2022, the judge ordered that the PGI District Court matter be reopened. We plan to vigorously defend against the remaining claims.Proceedings in ChinaOn May 12, 2020, PGI filed a complaint in the Wuhan Intermediate People’s Court in China alleging infringement of one or more claims of China patent No. CN101743321B (the “CN321 Patent”), which is related to the ‘441 Patent. We were served on January 20, 2021 and plan to vigorously defend in this matter. On November 23, 2020 we filed an Invalidation Petition at the China National Intellectual Property Administration (CNIPA) demonstrating the invalidity of the claims in the CN321 Patent on grounds of insufficient disclosure, and the lack of support, essential technical features, clarity, novelty, and inventiveness. A hearing in the invalidation proceeding at the CNIPA was held on April 29, 2021. On September 2, 2021, the CNIPA issued its decision on the Invalidation Petition and determined that all claims (1-61) of the CN321 patent were invalid. We have filed a petition with the Wuhan Intermediate People’s court requesting dismissal of the infringement action. On December 1, 2021, PGI filed an appeal with the Beijing IP Court, contesting the CNIPA decision. Other ProceedingsFrom time to time, we may also be involved in a variety of other claims, lawsuits, investigations and proceedings relating to securities laws, product liability, patent infringement, contract disputes, employment and other matters that arise in the normal course of our business. In addition, third parties may, from time to time, assert claims against us in the form of letters and other communications. We record a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We currently do not believe that the ultimate outcome of any of the matters described above is probable or reasonably estimable, or that these matters will have a material adverse effect on our business; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on us because of litigation and settlement costs, diversion of management resources and other factors.IndemnificationPursuant to Delaware law and agreements entered into with each of our directors and officers, we may have obligations, under certain circumstances, to hold harmless and indemnify each of our directors and officers against losses suffered or incurred by the indemnified party in connection with their service to us, and judgements, fines, settlements and expenses related to claims arising against such directors and officers to the fullest extent permitted under Delaware law, our bylaws and our certificate of incorporation. We also enter and have entered into indemnification agreements with our directors and officers that may require us to indemnify them against liabilities that arise by reason of their status or service as directors or officers, except as prohibited by applicable law. In addition, we may have obligations to hold harmless and indemnify third parties involved with our fundraising efforts and their respective affiliates, directors, officers, employees, agents or other representatives against any and all losses, claims, damages and liabilities related to claims arising against such parties pursuant to the terms of agreements entered into between such third parties and us in connection with such fundraising efforts. To the extent that any such indemnification obligations apply to the lawsuits described above, any associated expenses incurred are included within the related accrued litigation expense amounts. No additional liability associated with such indemnification obligations has been recorded as of December 31, 2021.
CY2021Q4	us-gaap	Lessee Operating Lease Renewal Term LesseeOperatingLeaseRenewalTerm	P5Y
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	11326000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	11851000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	12040000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	12328000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	12437000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	9930000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	69912000
CY2021Q4	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	12232000
CY2021Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	57680000
CY2021Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	7710000
CY2021Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	49970000
CY2021Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	57680000
CY2021Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.067
CY2021Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P5Y8M12D
CY2021	us-gaap	Payments For Rent PaymentsForRent	8200000
CY2020	us-gaap	Payments For Rent PaymentsForRent	7200000
CY2021	us-gaap	Operating Lease Cost OperatingLeaseCost	7200000
CY2020	us-gaap	Operating Lease Cost OperatingLeaseCost	6200000
CY2021Q4	pacb	Additional Liability Associated With Indemnification Obligations AdditionalLiabilityAssociatedWithIndemnificationObligations	0
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	-275400000
CY2020	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	28900000
CY2019	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	-84800000
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	800000
CY2020	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	600000
CY2019	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	900000
CY2021	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21
CY2021	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
CY2020	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
CY2019	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
CY2021	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.055
CY2020	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	-0.083
CY2019	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.049
CY2021	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	0.049
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.063
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	0.275
CY2021	pacb	Effective Income Tax Rate Reconciliation Tax Credit EffectiveIncomeTaxRateReconciliationTaxCredit	0.025
CY2020	pacb	Effective Income Tax Rate Reconciliation Tax Credit EffectiveIncomeTaxRateReconciliationTaxCredit	-0.036
CY2019	pacb	Effective Income Tax Rate Reconciliation Tax Credit EffectiveIncomeTaxRateReconciliationTaxCredit	0.022
CY2021	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost	-0.109
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost	0.152
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost	0.008
CY2021	pacb	Effective Income Tax Rate Reconciliation Nondeductible Expense Merger Expense Percent EffectiveIncomeTaxRateReconciliationNondeductibleExpenseMergerExpensePercent	-0.9
CY2021	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	-0.001
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	-0.002
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.002
CY2021	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.340
CY2021Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	378035000
CY2020Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	233225000
CY2021Q4	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Research DeferredTaxAssetsTaxCreditCarryforwardsResearch	60672000
CY2020Q4	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Research DeferredTaxAssetsTaxCreditCarryforwardsResearch	49179000
CY2021Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense DeferredTaxAssetsTaxDeferredExpense	10822000
CY2020Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense DeferredTaxAssetsTaxDeferredExpense	6337000
CY2021Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	12838000
CY2020Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	9717000
CY2021Q4	pacb	Deferred Tax Assets Operating Lease Liabilities DeferredTaxAssetsOperatingLeaseLiabilities	-13105000
CY2020Q4	pacb	Deferred Tax Assets Operating Lease Liabilities DeferredTaxAssetsOperatingLeaseLiabilities	-9870000
CY2021Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	475472000
CY2020Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	308328000
CY2021Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	366940000
CY2020Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	300505000
CY2021Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	108532000
CY2020Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	7823000
CY2021Q4	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets	97345000
CY2021Q4	us-gaap	Deferred Tax Liabilities Property Plant And Equipment DeferredTaxLiabilitiesPropertyPlantAndEquipment	1523000
CY2020Q4	us-gaap	Deferred Tax Liabilities Property Plant And Equipment DeferredTaxLiabilitiesPropertyPlantAndEquipment	786000
CY2021Q4	pacb	Deferred Tax Liabilities Right Of Use Assets DeferredTaxLiabilitiesRightOfUseAssets	10502000
CY2020Q4	pacb	Deferred Tax Liabilities Right Of Use Assets DeferredTaxLiabilitiesRightOfUseAssets	7037000
CY2021Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	109370000
CY2020Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	7823000
CY2021Q4	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	838000
CY2021Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	366900000
CY2021Q4	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	378000000.0
CY2021Q4	us-gaap	Tax Credit Carryforward Amount TaxCreditCarryforwardAmount	60700000
CY2021	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-93600000
CY2021Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	366900000
CY2020Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	300500000
CY2021Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	8300000
CY2018Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	20447000
CY2019	us-gaap	Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions	1532000
CY2019Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	21979000
CY2020	us-gaap	Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions	17255000
CY2020	us-gaap	Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions	1230000
CY2020Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	5954000
CY2021	us-gaap	Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions	189000
CY2021	us-gaap	Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions	2192000
CY2021Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	8335000
CY2020Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
CY2021Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
CY2010Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000
CY2010Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2010Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000
CY2010Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2020Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2021Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2020Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2021Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2021	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0
CY2021	us-gaap	Common Stock Voting Rights CommonStockVotingRights	one
CY2021	pacb	Common Stock Voting Rights Number Of Votes Per Share Owned CommonStockVotingRightsNumberOfVotesPerShareOwned	1
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	18.36
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	4.14
CY2021	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	80728000
CY2020	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	17533000
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	16401000
CY2021	us-gaap	Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount	900000
CY2020	us-gaap	Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount	300000
CY2021	us-gaap	Net Income Loss NetIncomeLoss	-181223000
CY2020	us-gaap	Net Income Loss NetIncomeLoss	29403000
CY2019	us-gaap	Net Income Loss NetIncomeLoss	-84134000
CY2021	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	204136000
CY2020	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	165187000
CY2019	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	152527000
CY2021	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.89
CY2020	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.18
CY2019	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.55
CY2021	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	204136000
CY2020	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	165187000
CY2019	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	152527000
CY2021	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	204136000
CY2020	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	174970000
CY2019	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	152527000
CY2021	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.89
CY2020	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.17
CY2019	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.55
CY2021	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1
CY2021	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	130513000
CY2020	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	78893000
CY2019	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	90891000
CY2021	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	130513000
CY2020	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	78893000
CY2019	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	90891000

Files In Submission

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$PACB
PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Stock $pacb

2021 Q4 Form 10-K Financial Statement

#000129913022000030 Filed on February 28, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PACB PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Stock $pacb

2021 Q4 Form 10-K Financial Statement

#000129913022000030 Filed on February 28, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PACB
PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Stock $pacb