PacBio Q2 revenue $47.6M (+34% YoY); acquires Apton for up to $110M; Onso shipments start

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

2023-Q2 EPS reported -$0.64 revenue$86,473,000

Q2 revenue $47.6M (+34% YoY); Revio drove record revenue with 45 systems shipped.
Net loss $69.8M ($0.28 GAAP EPS); non-GAAP net loss $65.6M ($0.26).
Acquired Apton Biosystems for ~$85M in stock plus up to $25M contingent milestone, valued up to ~$110M.
Commercial shipments of Onso short-read sequencer commenced; first customer shipment today.
Cash and investments $829.9M at June 30; issued $441M 1.375% convertible notes due 2030.

item 2.02 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported the quarter ended June 30, 2023 results: revenue $47.6 million, net income $69.8 million, EPS $0.28.

Period: the quarter ended June 30, 2023
Revenue: $47.6 million
Net income: $69.8 million
EPS: $0.28
Result: reported results

Exact text from the filing

Revenue of $47.6 million, a 34% increase compared with $35.5 million in the prior-year period. • Recognized revenue on 47 sequencing systems in the second quarter, including 45 Revio systems and 2 Sequel IIe systems, compared to 36 Sequel II/IIe systems in the prior-year period. • Instrument revenue of $29.9 million compared with $15.6 million in the prior-year period. • Consumables revenue of $13.7 million compared with $14.6 million in the prior-year period. • Service and other revenue of $3.9 million compared with $5.3 million in the prior-year period. Gross profit for the second quarter of 2023 was $15.5 million, representing a 4% decrease compared with $16.2 million for the second quarter of 2022 and a gross margin of 33% in the second quarter of 2023 compared to 46% for the second quarter of 2022. Non-GAAP gross profit for the second quarter of 2023 was $15.7 million and represented a non-GAAP gross margin of 33% in the second quarter of 2023, compared to a non-GAAP gross profit

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accession 0001299130-23-000093

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