---
schema_version: "secwatch.filing_event.v1"
accession: "0001299130-23-000047"
form_type: "8-K"
ticker: "PACB"
cik: "0001299130"
company_name: "PACIFIC BIOSCIENCES OF CALIFORNIA, INC."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:52:43.791416+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# PacBio reports record Q1 revenue $38.9M (+17% YoY) but net loss widens to $88.0M

## Summary
- Q1 revenue $38.9M (+17% YoY); net loss $88.0M ($0.36 loss per share) vs $81.5M loss prior year.
- Shipped 38 sequencing systems (32 Revio, 6 Sequel IIe); Revio launch exceeding expectations with record backlog.
- GAAP gross margin fell to 25% from 43% YoY due partly to $3.5M charge for excess Sequel II/IIe consumables.
- Cash and investments $874.9M at March 31 vs $772.3M at Dec 31, 2022.
- Received first orders for Onso short-read system; introduced new workflows and DNA extraction kits.

## SEC filing metadata
- accession: 0001299130-23-000047
- form_type: 8-K
- ticker: PACB
- cik: 0001299130
- company_name: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1299130/000129913023000047/0001299130-23-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1299130/000129913023000047/pacb-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001299130-23-000047
- JSON: https://secwatch.observer/filing/0001299130-23-000047.json
- Plain text: https://secwatch.observer/filing/0001299130-23-000047.txt

## Key facts
- Earnings Releases
  PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported the quarter ended March 31, 2023 results: revenue $38.9 million, net income Net loss for the first quarter of 2023 was $88.0 million, EPS Net loss per share for the first quarter of 2023 was $0.36.
  - Period: the quarter ended March 31, 2023
  - Revenue: $38.9 million
  - Net income: Net loss for the first quarter of 2023 was $88.0 million
  - EPS: Net loss per share for the first quarter of 2023 was $0.36
  - Result: reported results
  source text: Quarter 2023 Menlo Park, Calif. – May 2, 2023 – PacBio (NASDAQ: PACB) today announced financial results for the quarter ended March 31, 2023. First quarter results • Revenue of $38.9 million, a 17% increase compared with $33.2 million in the prior year period. • Shipped 38 sequencing systems in the first quarter, including 32 Revio systems and 6 Sequel IIe systems. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1299130/000129913023000047/0001299130-23-000047-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.