{"schema_version":"secwatch.filing_event.v1","accession":"0001299130-24-000109","form_type":"8-K","ticker":"PACB","cik":"0001299130","company_name":"PACIFIC BIOSCIENCES OF CALIFORNIA, INC.","filed_at":"2024-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.765534+00:00","generated_at":"2026-06-02T05:02:32.867410+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"PacBio Q1 revenue flat at $38.8M; net loss $78.2M; cuts 195 jobs to reduce expenses","bullets":["Revenue $38.8M (flat YoY); instrument revenue down 8% to $19.0M; consumables up 14% to $16.0M.","GAAP net loss $78.2M ($0.29 loss per share) vs $88.0M loss ($0.36) in Q1 2023; non-GAAP loss $71.4M ($0.26).","Cash and investments $561.9M at March 31, 2024, down from $631.4M at Dec 31, 2023.","Announced ~195 headcount reduction to cut non-GAAP annualized expense run rate by >$75M by end of 2024.","Management cites increasing customer delays in instrument purchases; targeting positive cash flows by end of 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001299130-24-000109","json":"https://secwatch.observer/filing/0001299130-24-000109.json","markdown":"https://secwatch.observer/filing/0001299130-24-000109.md","text":"https://secwatch.observer/filing/0001299130-24-000109.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1299130/000129913024000109/0001299130-24-000109-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1299130/000129913024000109/pacb-20240509.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T05:02:32.867410+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0abb014caa02057dc8c6e653900bbc498b390738","claim":"PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported first quarter ended March 31, 2024 results: net income Net loss for the first quarter of 2024 was $78.2 million, compared to a net loss of $88.0 million for the first quarter, EPS Net loss per share for the first quarter of 2024 was $0.29, compared to net loss per share of $0.36 for the first quarte.","evidence_excerpt":"Revenue of $38.8 million compared with $38.9 million in the prior-year period.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1299130/000129913024000109/0001299130-24-000109-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Net income","value":"Net loss for the first quarter of 2024 was $78.2 million, compared to a net loss of $88.0 million for the first quarter"},{"label":"EPS","value":"Net loss per share for the first quarter of 2024 was $0.29, compared to net loss per share of $0.36 for the first quarte"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"0abb014caa02057dc8c6e653900bbc498b390738","claim":"PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported first quarter ended March 31, 2024 results: net income Net loss for the first quarter of 2024 was $78.2 million, compared to a net loss of $88.0 million for the first quarter, EPS Net loss per share for the first quarter of 2024 was $0.29, compared to net loss per share of $0.36 for the first quarte.","evidence_excerpt":"Net loss for the first quarter of 2024 was $78.2 million, compared to a net loss of $88.0 million for the first quarter of 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1299130/000129913024000109/0001299130-24-000109-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Net income","value":"Net loss for the first quarter of 2024 was $78.2 million, compared to a net loss of $88.0 million for the first quarter"},{"label":"EPS","value":"Net loss per share for the first quarter of 2024 was $0.29, compared to net loss per share of $0.36 for the first quarte"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"baa4da2bc0cd0ed9b17deaa70219e6e33b307930","claim":"PACIFIC BIOSCIENCES OF CALIFORNIA, INC. updated its end of 2024 guidance (raised).","evidence_excerpt":"Initiated activities to reduce annualized run-rate operating expenses and the Company expects to achieve above the high end of our previously provided range of non-GAAP reduction of $50 million to $75 million by the end of 2024 compared to our prior guidance of 5% operating expense growth.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1299130/000129913024000109/0001299130-24-000109-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"end of 2024"},{"label":"Guidance","value":"raised"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}