$PACB
PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

2024 Q3 Form 10-Q Financial Statement

#000129913024000169 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $39.97M $36.01M
YoY Change -28.23% -24.3%
Cost Of Revenue $29.96M $30.08M
YoY Change -20.71% -6.09%
Gross Profit $10.00M $5.938M
YoY Change -44.12% -61.8%
Gross Profit Margin 25.03% 16.49%
Selling, General & Admin $43.75M $45.88M
YoY Change 0.73% 13.07%
% of Gross Profit 437.29% 772.6%
Research & Development $25.52M $38.49M
YoY Change -46.3% -16.65%
% of Gross Profit 255.06% 648.11%
Depreciation & Amortization $11.05M $10.35M
YoY Change 186.88% 238.19%
% of Gross Profit 110.41% 174.33%
Operating Expenses $74.08M $181.8M
YoY Change -26.21% 104.89%
Operating Profit -$64.08M -$175.8M
YoY Change -22.32% 140.31%
Interest Expense -$3.538M -$3.542M
YoY Change -198.61% -0.34%
% of Operating Profit
Other Income/Expense, Net $6.890M $6.069M
YoY Change -18.99% -32.03%
Pretax Income -$60.73M -$173.3M
YoY Change -21.72% 148.19%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$60.73M -$173.3M
YoY Change -9.19% 148.19%
Net Earnings / Revenue -151.94% -481.27%
Basic Earnings Per Share -$0.22 -$0.64
Diluted Earnings Per Share -$0.22 -$0.64
COMMON SHARES
Basic Shares Outstanding 272.5M shares 272.4M shares
Diluted Shares Outstanding 272.9M shares 272.4M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $471.1M $509.8M
YoY Change -38.64% -38.57%
Cash & Equivalents $77.98M $99.53M
Short-Term Investments $393.2M $410.3M
Other Short-Term Assets $17.97M $17.31M
YoY Change 13.72% 23.22%
Inventory $65.74M $68.59M
Prepaid Expenses
Receivables $29.38M $32.43M
Other Receivables $0.00 $0.00
Total Short-Term Assets $584.2M $628.1M
YoY Change -33.78% -32.86%
LONG-TERM ASSETS
Property, Plant & Equipment $31.95M $34.91M
YoY Change -20.79% -54.52%
Goodwill $369.1M $369.1M
YoY Change -20.43% -9.98%
Intangibles $436.4M $443.3M
YoY Change -5.5% 8.17%
Long-Term Investments
YoY Change
Other Assets $9.503M $9.790M
YoY Change -26.92% -37.1%
Total Long-Term Assets $865.8M $881.4M
YoY Change -14.79% -3.37%
TOTAL ASSETS
Total Short-Term Assets $584.2M $628.1M
Total Long-Term Assets $865.8M $881.4M
Total Assets $1.450B $1.509B
YoY Change -23.62% -18.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.06M $17.49M
YoY Change -25.1% 5.91%
Accrued Expenses $19.18M $22.46M
YoY Change -44.65% -38.06%
Deferred Revenue $17.30M $19.20M
YoY Change -22.77% -23.2%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.00M $78.39M
YoY Change -67.39% -71.12%
LONG-TERM LIABILITIES
Long-Term Debt $893.1M $892.8M
YoY Change 0.13% 0.12%
Other Long-Term Liabilities $751.0K $751.0K
YoY Change -28.54% -98.23%
Total Long-Term Liabilities $751.0K $751.0K
YoY Change -28.54% -99.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.00M $78.39M
Total Long-Term Liabilities $751.0K $751.0K
Total Liabilities $996.9M $1.017B
YoY Change -12.13% -15.66%
SHAREHOLDERS EQUITY
Retained Earnings -$2.151B -$2.091B
YoY Change 22.44% 23.69%
Common Stock $274.0K $272.0K
YoY Change 6.2% 8.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $453.1M $492.7M
YoY Change
Total Liabilities & Shareholders Equity $1.450B $1.509B
YoY Change -23.62% -18.3%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$60.73M -$173.3M
YoY Change -9.19% 148.19%
Depreciation, Depletion And Amortization $11.05M $10.35M
YoY Change 186.88% 238.19%
Cash From Operating Activities -$45.46M -$54.26M
YoY Change -30.25% 30.0%
INVESTING ACTIVITIES
Capital Expenditures -$787.0K $1.479M
YoY Change -194.82% -34.79%
Acquisitions
YoY Change
Other Investing Activities $22.28M $78.32M
YoY Change -90.84% -181.31%
Cash From Investing Activities $23.07M $76.84M
YoY Change -90.48% -177.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 812.0K -152.0K
YoY Change -204.1% -96.78%
NET CHANGE
Cash From Operating Activities -45.46M -54.26M
Cash From Investing Activities 23.07M 76.84M
Cash From Financing Activities 812.0K -152.0K
Net Change In Cash -21.59M 22.42M
YoY Change -112.24% -115.46%
FREE CASH FLOW
Cash From Operating Activities -$45.46M -$54.26M
Capital Expenditures -$787.0K $1.479M
Free Cash Flow -$44.68M -$55.74M
YoY Change -32.32% 26.66%

Facts In Submission

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UseOfEstimates
<div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Roboto',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </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%">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 those relating to the valuation of inventory, fair value of contingent consideration, valuation of acquired intangible assets, useful lives assigned to finite-lived assets, asset impairment assessments, computation of provisions for income taxes, and valuations related to our convertible senior notes. While the extent of the potential impact of 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 June 30, 2024. Actual results could differ materially from these estimates.</span></div>
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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99526000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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179911000 usd
CY2024Q2 us-gaap Restricted Cash Current
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342000 usd
CY2023Q4 us-gaap Restricted Cash Current
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300000 usd
CY2024Q2 us-gaap Restricted Cash Noncurrent
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CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2422000 usd
CY2024Q2 us-gaap Assets Fair Value Disclosure
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CY2023Q4 us-gaap Assets Fair Value Disclosure
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634138000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
19480000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
19550000 usd
CY2024Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
19480000 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
19550000 usd
CY2024Q2 pacb Business Combination Contingent Consideration Liability Measurement Period
BusinessCombinationContingentConsiderationLiabilityMeasurementPeriod
P5Y
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
19550000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
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CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
19480000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
510325000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
74000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
597000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
509802000 usd
CY2024Q2 us-gaap Restricted Cash Current
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342000 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
342000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1922000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1922000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
631197000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
864000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
645000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
631416000 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2422000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2422000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
347533000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
99096000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
446629000 usd
CY2024Q2 us-gaap Investment Income Net
InvestmentIncomeNet
6500000 usd
us-gaap Investment Income Net
InvestmentIncomeNet
13800000 usd
CY2023Q2 us-gaap Investment Income Net
InvestmentIncomeNet
9000000.0 usd
us-gaap Investment Income Net
InvestmentIncomeNet
15800000 usd
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
29918000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
20168000 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
21695000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
23436000 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
16981000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
13072000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
68594000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
56676000 usd
CY2024Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
93200000 usd
CY2024Q2 pacb Goodwill Impairment Discounted Cash Flow Model Discount Rate
GoodwillImpairmentDiscountedCashFlowModelDiscountRate
0.120
CY2024Q2 pacb Goodwill Impairment Increase In Basis Point Discount Rate
GoodwillImpairmentIncreaseInBasisPointDiscountRate
0.0100
CY2024Q2 pacb Additional Goodwill Impairment Change In Discount Rate
AdditionalGoodwillImpairmentChangeInDiscountRate
85000000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
462261000 usd
us-gaap Goodwill Impairment Loss
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CY2024Q2 us-gaap Goodwill
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369061000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2024Q2 us-gaap Finite Lived Intangible Assets Net
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CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Finite Lived Intangible Assets Net
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401984000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
13706000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
27412000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
27412000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
27412000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
27412000 usd
CY2024Q2 pacb Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
264924000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
388278000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
24900000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
19200000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5700000 usd
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
5700000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P5Y
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2300000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5500000 usd
pacb Standard Product Warranty Period
StandardProductWarrantyPeriod
P1Y
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4120000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1624000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4681000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1651000 usd
CY2024Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1773000 usd
CY2023Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2247000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3373000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2851000 usd
CY2024Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2431000 usd
CY2023Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1009000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4592000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1640000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3462000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2862000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3462000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2862000 usd
CY2024Q2 pacb Restructuring Charges Worker Adjustment And Retraining Notification Warn Act And Other Employee Benefits
RestructuringChargesWorkerAdjustmentAndRetrainingNotificationWARNActAndOtherEmployeeBenefits
5500000 usd
CY2024Q2 us-gaap Severance Costs1
SeveranceCosts1
4500000 usd
CY2024Q2 us-gaap Restructuring Charges
RestructuringCharges
11194000 usd
CY2024Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
6797000 usd
CY2024Q2 us-gaap Restructuring Reserve
RestructuringReserve
4397000 usd
CY2024Q2 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
8332000 usd
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, 2023 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="#if6b0fb93fca346b681fa51b22bb3bc4e_109" 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 expense amounts. No additional liability associated with such indemnification obligations has been recorded as of June 30, 2024 and December 31, 2023.</span></div>
CY2024Q2 pacb Additional Liability Associated With Indemnification Obligations
AdditionalLiabilityAssociatedWithIndemnificationObligations
0 usd
CY2023Q4 pacb Additional Liability Associated With Indemnification Obligations
AdditionalLiabilityAssociatedWithIndemnificationObligations
0 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17219000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17891000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36744000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35843000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-173319000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-69833000 usd
us-gaap Net Income Loss
NetIncomeLoss
-251497000 usd
us-gaap Net Income Loss
NetIncomeLoss
-157848000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
272385000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
250070000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
270982000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
246074000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
272385000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
250070000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
270982000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
246074000 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36013000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
47573000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
74823000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86473000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36013000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
47573000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
74823000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86473000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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