8-K
filed November 7, 2022, 6:59 PM ET
ticker PACB
CIK 0001299130
earnings
confidence high
sentiment negative
materiality 0.75
PacBio Q3 2022 revenue down 7% YoY to $32.3M; net loss $77M; withdraws guidance; launches Revio and Onso systems
PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
2022-Q3 EPS reported
-$1.03
revenue$100,951,000
- Revenue $32.3M (down 7% YoY); instrument revenue $11.4M (down 28%); consumables revenue $16.1M (up 10%).
- GAAP net loss $77.0M ($0.34 EPS) vs net income $16.5M ($0.08 EPS) in Q3 2021; non-GAAP net loss $72.5M ($0.32 EPS).
- Cash and investments $834.3M, down from $1,044.4M at Dec 2021; withdrawn all prior financial guidance.
- Launched Revio long-read system (up to 1,300 human genomes/year, <$1k/genome) with shipments starting Q1 2023.
- Introduced Onso short-read system with 10x accuracy improvement; shipments expected H1 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported third quarter ended September 30, 2022 results: revenue $32.3 million, net income $77.0 million, EPS $0.34.
- Period
- third quarter ended September 30, 2022
- Revenue
- $32.3 million
- Net income
- $77.0 million
- EPS
- $0.34
- Result
- reported results
Exact text from the filing
Menlo Park, Calif. – November 7, 2022 – PacBio (NASDAQ: PACB) today announced financial results for the quarter ended September 30, 2022. Third quarter results · Revenue of $32.3 million, a 7% decrease compared with $34.9 million in the prior year period. · Instrument revenue of $11.4 million, compared with $15.9 million in the prior year period. · Consumables
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
PACIFIC BIOSCIENCES OF CALIFORNIA, INC.: Amended and restated Second Amended and Restated Bylaws to revise director nomination and stockholder proposal procedures, conform to DGCL, update provisions on directors/committees/officers, clarify forum selection, and make ministerial updates (effective 2022-11-03).
- Change
- bylaw amendment
- Effective
- 2022-11-03
Exact text from the filing
On November 3, 2022, the Company’s board of directors, upon recommendation of the corporate governance and nominating committee, amended and restated the Company’s Second Amended and Restated Bylaws, effective immediately (the “Amended and Restated Bylaws”).
View on SEC.gov
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