secwatch.observer — SEC 8-K summary
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Issuer:     PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB)
CIK:        0001299130
Form:       8-K
Filed at:   2025-02-13T23:59:59+00:00
Accession:  0001299130-25-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PacBio Q4 rev $39.2M (-33% YoY), $90M impairment, non-GAAP loss $55.3M
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- Revenue $39.2M vs $58.4M prior year; instrument revenue fell to $15.3M from $35.1M.
- GAAP net income of $3.6M includes $154.4M gain on debt restructuring; non-GAAP net loss $55.3M ($0.20 loss per share).
- Preliminary non-cash impairment charges of ~$90.1M for goodwill and IPR&D due to macroeconomic headwinds.
- Cash $389.9M, down from $631.4M; convertible note exchange reduced principal by $259M.
- Launched Vega benchtop platform and SPRQ chemistry enabling sub-$500 genome, with 23 Revio and 7 Vega systems shipped.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1299130/000129913025000033/0001299130-25-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1299130/000129913025000033/pacb-20250213.htm
  HTML page:      https://secwatch.observer/filing/0001299130-25-000033

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