PacBio Q3 revenue falls 28% to $40M; CFO resigns; notes exchange with SoftBank

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

2024-Q3 EPS reported -$1.15 revenue$114,790,000

Revenue $40.0M (-28% YoY); instrument revenue $16.8M (down from $34.7M); 22 Revio systems shipped.
Net loss $60.7M ($0.22/sh) vs $66.9M ($0.26) prior year; non-GAAP net loss $46.0M ($0.17).
CFO Susan Kim resigns effective Dec 6; no severance; search for replacement underway.
Announced $459M convertible note exchange (1.50% due 2028) with SoftBank, expected close Nov 21.
Launched SPRQ chemistry increasing Revio throughput 33%; unveiled Vega benchtop sequencer at $169K.

item 2.02 item 5.02 item 9.01

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Departed

Susan Kim

Chief Financial Officer

PACB · PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Effective: 2024-12-06
Filed: November 7, 2024, 6:59 PM ET

On November 5, 2024, Susan Kim notified the Company that she is voluntarily resigning as Chief Financial Officer of the Company effective on December 6, 2024, to accept a position at another organization.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Susan Kim resigned as Chief Financial Officer at PACIFIC BIOSCIENCES OF CALIFORNIA, INC..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On November 5, 2024, Susan Kim notified the Company that she is voluntarily resigning as Chief Financial Officer of the Company effective on December 6, 2024, to accept a position at another organization.

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Source: SEC EDGAR

accession 0001104659-24-115295

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