secwatch.observer — SEC 8-K summary
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Issuer:     PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB)
CIK:        0001299130
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001299130-23-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1299130/000129913023000047/0001299130-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1299130/000129913023000047/pacb-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001299130-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer