---
schema_version: "secwatch.filing_event.v1"
accession: "0001299130-24-000014"
form_type: "8-K"
ticker: "PACB"
cik: "0001299130"
company_name: "PACIFIC BIOSCIENCES OF CALIFORNIA, INC."
filed_at: "2024-02-15T23:59:59+00:00"
generated_at: "2026-06-06T00:50:50.177158+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PacBio Q4 rev $58.4M (+113% YoY) but GAAP gross margin drops to 16%; FY rev $200.5M

## Summary
- Q4 revenue $58.4M (+113% YoY); instrument revenue $35.1M vs $6.1M YoY.
- GAAP gross margin 16% (vs 19% YoY); $9.3M inventory reserve charges from faster Revio ramp.
- Net loss $82.0M ($0.31/share) vs $84.4M ($0.37) PY; non-GAAP loss $72.5M.
- Shipped 44 Revio systems; installed base 173; consumables revenue $18.9M (+13% YoY).
- FY2023 rev $200.5M (+56% YoY); net loss $306.7M vs $314.2M; cash $631.4M.

## SEC filing metadata
- accession: 0001299130-24-000014
- form_type: 8-K
- ticker: PACB
- cik: 0001299130
- company_name: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
- filed_at: 2024-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1299130/000129913024000014/0001299130-24-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1299130/000129913024000014/pacb-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001299130-24-000014
- JSON: https://secwatch.observer/filing/0001299130-24-000014.json
- Plain text: https://secwatch.observer/filing/0001299130-24-000014.txt

## Key facts
- Earnings Releases
  PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported fiscal year ended December 31, 2023 results: revenue Revenue of $200.5 million, net income Net loss for 2023 was $306.7 million, EPS Net loss per share for 2023 was $1.21.
  - Period: fiscal year ended December 31, 2023
  - Revenue: Revenue of $200.5 million
  - Net income: Net loss for 2023 was $306.7 million
  - EPS: Net loss per share for 2023 was $1.21
  - Result: reported results
  source text: Fiscal year 2023 results • Revenue of $200.5 million, a 56% increase compared with $128.3 million in the prior-year period. • Instrument revenue of $120.5 million compared with $48.7 million in the prior-year period. • Consumables revenue of $63.4 million compared with $60.0 million in the prior-year period. • Service and other revenue of $16.6 million compared with $19.6 million in the prior-year period. Gross profit for 2023 was $52.8 million, representing an 8% increase compared with $49.0 million for 2022 and a gross margin of 26% in 2023 compared to 38% for 2022. Non-GAAP gross profit for 2023 was $54.9 million and represented a non-GAAP gross margin of 27% in 2023, compared to a non-GAAP gross profit of $49.8 million in 2022, which represented a non-GAAP gross margin of 39% (see accompanying tables for reconciliations of GAAP and non-GAAP measures). Operating expenses totaled $387.2 million for 2023, compared to $356.2 million for 2022. Non-GAAP operating expenses totaled $354.8
  evidence_url: https://www.sec.gov/Archives/edgar/data/1299130/000129913024000014/0001299130-24-000014-index.htm
- Earnings Releases
  PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported fourth fiscal quarter ended December 31, 2023 results: revenue Revenue of $58.4 million, net income Net loss for the fourth quarter of 2023 was $82.0 million, EPS Net loss per share for the fourth quarter of 2023 was $0.31.
  - Period: fourth fiscal quarter ended December 31, 2023
  - Revenue: Revenue of $58.4 million
  - Net income: Net loss for the fourth quarter of 2023 was $82.0 million
  - EPS: Net loss per share for the fourth quarter of 2023 was $0.31
  - Result: reported results
  source text: Fourth quarter results • Revenue of $58.4 million, a 113% increase compared with $27.4 million in the prior-year period. • Instrument revenue of $35.1 million compared with $6.1 million in the prior-year period. • Consumables revenue of $18.9 million compared with $16.7 million in the prior-year period. • Service and other revenue of $4.4 million compared with $4.6 million in the prior-year period. • Shipped 44 Revio TM sequencing systems in the fourth quarter of 2023, bringing the installed base as of December 31, 2023, to 173 systems. Gross profit for the fourth quarter of 2023 was $9.6 million, representing an 86% increase compared with $5.1 million for the fourth quarter of 2022 and a gross margin of 16% in the fourth quarter of 2023 compared to 19% for the fourth quarter of 2022. Non-GAAP gross profit for the fourth quarter of 2023 was $11.1 million and represented a non-GAAP gross margin of 19% in the fourth quarter of 2023, compared to a non-GAAP gross profit of $5.3 million in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1299130/000129913024000014/0001299130-24-000014-index.htm

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