PacBio reports preliminary Q4 revenue $39.2M, down 33% YoY; Vega system shipped ahead of schedule

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Preliminary Q4 revenue $39.2M vs $58.4M prior year (-33%); full year $154M vs $200M (-23%).
Instrument revenue $15.3M (23 Revio, 7 Vega systems); consumables revenue $18.8M flat YoY.
Launched Vega benchtop system ahead of schedule and SPRQ chemistry enabling sub-$500 HiFi genome.
Strengthened balance sheet: exchanged $459M of 2028 notes for $200M notes due 2029, 20.5M shares, and $50M cash.
Preliminary cash and investments $390M as of Dec 31, 2024; final results subject to audit.

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