2023 Q2 Form 10-Q Financial Statement

#000129913023000048 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $47.57M $38.90M $33.17M
YoY Change 34.13% 17.26% 14.4%
Cost Of Revenue $32.03M $29.14M $19.02M
YoY Change 66.17% 53.22% 18.71%
Gross Profit $15.55M $9.761M $14.16M
YoY Change -4.0% -31.04% 9.08%
Gross Profit Margin 32.68% 25.09% 42.67%
Selling, General & Admin $40.57M $39.82M $39.80M
YoY Change 3.37% 0.04% 52.28%
% of Gross Profit 260.99% 407.93% 281.2%
Research & Development $46.17M $48.94M $52.94M
YoY Change -8.29% -7.55% 157.63%
% of Gross Profit 297.01% 501.37% 373.98%
Depreciation & Amortization $3.061M $2.755M $2.268M
YoY Change 19.99% 21.47% 41.22%
% of Gross Profit 19.69% 28.22% 16.02%
Operating Expenses $88.72M $101.0M $91.68M
YoY Change 5.42% 10.18% 96.37%
Operating Profit -$73.18M -$91.25M -$77.52M
YoY Change 7.66% 17.71% 129.97%
Interest Expense -$3.554M $3.630M $3.697M
YoY Change -196.55% -1.81% 106.65%
% of Operating Profit
Other Income/Expense, Net $8.929M $6.867M -$279.0K
YoY Change 3387.89% -2561.29% -535.94%
Pretax Income -$69.83M -$88.02M -$81.50M
YoY Change -2.19% 8.0% -6.79%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$69.83M -$88.02M -$81.50M
YoY Change -2.19% 8.0% -6.79%
Net Earnings / Revenue -146.79% -226.26% -245.68%
Basic Earnings Per Share -$0.28 -$0.36 -$0.37
Diluted Earnings Per Share -$0.28 -$0.36 -$0.37
COMMON SHARES
Basic Shares Outstanding 249.9M shares 247.1M 222.3M
Diluted Shares Outstanding 250.1M shares 242.0M shares 222.3M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $829.9M $874.9M $1.080B
YoY Change -16.82% -18.98% -7.61%
Cash & Equivalents $209.3M $353.8M $428.6M
Short-Term Investments $620.6M $521.1M $651.2M
Other Short-Term Assets $14.05M $14.38M $8.936M
YoY Change 76.55% 60.87% 39.63%
Inventory $67.61M $61.96M $29.63M
Prepaid Expenses
Receivables $24.03M $29.59M $27.85M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $935.6M $981.1M $1.029B
YoY Change -3.58% -4.67% -13.94%
LONG-TERM ASSETS
Property, Plant & Equipment $76.76M $40.83M $35.51M
YoY Change 102.23% 14.99% 46.69%
Goodwill $410.0M $410.0M $410.0M
YoY Change 0.0% 0.0%
Intangibles $409.8M $410.0M $410.8M
YoY Change -0.18% -0.18%
Long-Term Investments
YoY Change
Other Assets $15.57M $13.32M $1.340M
YoY Change 1191.7% 893.96% 1900.0%
Total Long-Term Assets $912.1M $915.3M $907.5M
YoY Change 0.69% 0.86% 1493.86%
TOTAL ASSETS
Total Short-Term Assets $935.6M $981.1M $1.029B
Total Long-Term Assets $912.1M $915.3M $907.5M
Total Assets $1.848B $1.896B $1.937B
YoY Change -1.52% -2.08% 54.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.51M $17.39M $17.61M
YoY Change 28.17% -1.23% 407.26%
Accrued Expenses $36.25M $19.38M $19.49M
YoY Change 44.01% -0.56% 32.83%
Deferred Revenue $25.00M $30.90M $12.73M
YoY Change -22.08% 142.75% 32.5%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.400M $1.900M
YoY Change
Total Short-Term Liabilities $271.4M $265.7M $61.01M
YoY Change 221.59% 335.46% 80.84%
LONG-TERM LIABILITIES
Long-Term Debt $891.8M $896.8M $896.2M
YoY Change -0.51% 0.07% 0.06%
Other Long-Term Liabilities $42.43M $969.0K $3.218M
YoY Change 1340.19% -69.89% 327.93%
Total Long-Term Liabilities $934.2M $969.0K $3.218M
YoY Change 31611.58% -69.89% 327.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $271.4M $265.7M $61.01M
Total Long-Term Liabilities $934.2M $969.0K $3.218M
Total Liabilities $1.206B $1.204B $1.202B
YoY Change 0.95% 0.18% 23.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.690B -$1.620B -$1.300B
YoY Change 23.28% 24.68% 15.59%
Common Stock $250.0K $250.0K $224.0K
YoY Change 11.11% 11.61% 13.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $642.0M $692.1M $734.6M
YoY Change
Total Liabilities & Shareholders Equity $1.848B $1.896B $1.937B
YoY Change -1.52% -2.08% 54.58%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$69.83M -$88.02M -$81.50M
YoY Change -2.19% 8.0% -6.79%
Depreciation, Depletion And Amortization $3.061M $2.755M $2.268M
YoY Change 19.99% 21.47% 41.22%
Cash From Operating Activities -$41.74M -$94.69M -$79.03M
YoY Change -31.08% 19.82% 242.06%
INVESTING ACTIVITIES
Capital Expenditures $2.268M $3.721M $3.638M
YoY Change -156.43% 2.28% 807.23%
Acquisitions
YoY Change
Other Investing Activities -$96.32M -$68.83M $45.69M
YoY Change 71.2% -250.65% 433.15%
Cash From Investing Activities -$98.59M -$72.55M $42.05M
YoY Change 63.55% -272.53% 414.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.592M
YoY Change -74.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.715M $196.0M 5.215M
YoY Change -1136.26% 3658.18% -99.4%
NET CHANGE
Cash From Operating Activities -41.74M -$94.69M -79.03M
Cash From Investing Activities -98.59M -$72.55M 42.05M
Cash From Financing Activities -4.715M $196.0M 5.215M
Net Change In Cash -145.0M $28.75M -31.76M
YoY Change 20.48% -190.5% -103.73%
FREE CASH FLOW
Cash From Operating Activities -$41.74M -$94.69M -$79.03M
Capital Expenditures $2.268M $3.721M $3.638M
Free Cash Flow -$44.01M -$98.41M -$82.67M
YoY Change -22.17% 19.05% 251.7%

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CY2022Q1 us-gaap Amortization Of Intangible Assets
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228000 usd
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CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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1696000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
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162000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
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159000 usd
CY2023Q1 us-gaap Share Based Compensation
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17952000 usd
CY2022Q1 us-gaap Share Based Compensation
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22703000 usd
CY2023Q1 us-gaap Investment Income Net Amortization Of Discount And Premium
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2155000 usd
CY2022Q1 us-gaap Investment Income Net Amortization Of Discount And Premium
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CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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12256000 usd
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2023Q1 us-gaap Inventory Write Down
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3521000 usd
CY2022Q1 us-gaap Inventory Write Down
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386000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-201000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
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10803000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
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3611000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
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13319000 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
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6661000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6888000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1185000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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5068000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6373000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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-13186000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
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-17234000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
423000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1949000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
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-1969000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
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-1884000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2455000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
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-2512000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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3721000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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3638000 usd
CY2023Q1 us-gaap Payments To Acquire Investments
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233291000 usd
CY2022Q1 us-gaap Payments To Acquire Investments
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595000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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163864000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
122060000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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42053000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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189200000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
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0 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
7235000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
5592000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
446000 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
377000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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195989000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5215000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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28745000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-31761000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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328311000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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465817000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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357056000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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434056000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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353834000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
428574000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3222000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5482000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
357056000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
434056000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
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 potential impact of the current macroeconomic conditions on our business is highly uncertain, we considered information available related to assumptions and estimates used to determine the results reported and asset valuations as of March 31, 2023. Actual results could differ materially from these estimates.
CY2022Q4 us-gaap Investments Fair Value Disclosure
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447229000 usd
CY2023Q1 us-gaap Restricted Cash Current
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300000 usd
CY2022Q4 us-gaap Restricted Cash Current
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300000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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353834000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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325089000 usd
CY2023Q1 us-gaap Investments Fair Value Disclosure
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521058000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
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2922000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
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2922000 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
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CY2022Q4 us-gaap Assets Fair Value Disclosure
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775540000 usd
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
184350000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
172094000 usd
CY2023Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
184350000 usd
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
172094000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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172094000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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12256000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
184350000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
876816000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
916000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2840000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
874892000 usd
CY2023Q1 us-gaap Restricted Cash Current
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300000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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2922000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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2922000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
777083000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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16000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4781000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
772318000 usd
CY2022Q4 us-gaap Restricted Cash Current
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300000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2922000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2922000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
634191000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
136948000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
771139000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
25475000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
24139000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
21705000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
14062000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
14775000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12180000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
61955000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
50381000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
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11539000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1528000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10011000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
11539000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1294000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10245000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
619000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
745000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
745000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
745000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
746000 usd
CY2023Q1 pacb Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
6411000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10011000 usd
CY2022Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32700000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
30900000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1800000 usd
CY2023Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1800000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P5Y
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3500000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1651000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
594000 usd
CY2023Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
604000 usd
CY2022Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
953000 usd
CY2023Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
631000 usd
CY2022Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
373000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1624000 usd
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1174000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3161000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3317000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
896839000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
896683000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
156000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
153000 usd
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
3531000 usd
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
3528000 usd
CY2023Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
COMMITMENTS AND CONTINGENCIES <div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has entered into various operating lease agreements, primarily relating to our corporate offices. See </span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 8 – Commitments and Contingencies</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, subsection titled “Leases”, in Part II, Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2022 for information regarding the Company’s maturity of lease liabilities under its lease agreements.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Contingencies </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We do not believe that the ultimate outcome of any such pending matters 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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see subsection titled </span><span style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#idd15d706814f4821992e3c53513cc1e0_91" style="color:#0000ff;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Legal Proceedings, in Part II, Item 1</a></span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of this Quarterly Report on Form 10-Q.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Indemnification</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant 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 </span></div>expense amounts. No additional liability associated with such indemnification obligations has been recorded as of March 31, 2023 and December 31, 2022.
CY2023Q1 pacb Public Offering Shares
PublicOfferingShares
17500000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 pacb Offering Share Amount Maximum
OfferingShareAmountMaximum
10.00
CY2023Q1 pacb Public Offering Option To Purchase Additional Shares Period
PublicOfferingOptionToPurchaseAdditionalSharesPeriod
P30D
CY2023Q1 pacb Public Offering Option To Purchase Additional Shares Shares
PublicOfferingOptionToPurchaseAdditionalSharesShares
2600000 shares
CY2023Q1 pacb Percentage Commission Of Gross Proceeds On Sale Of Common Stock Under At Market Offering
PercentageCommissionOfGrossProceedsOnSaleOfCommonStockUnderAtMarketOffering
0.0575
CY2023Q1 pacb Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
189700000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
500000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17952000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22703000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-88015000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-81499000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
242032000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
222289000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.37
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
242032000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
222289000 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.37
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38900000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
33173000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38900000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
33173000 usd

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