secwatch.observer — SEC 8-K summary
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Issuer:     PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB)
CIK:        0001299130
Form:       8-K
Filed at:   2025-04-09T23:59:59+00:00
Accession:  0001299130-25-000083
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PacBio reports preliminary Q1 revenue $36.9M, down 5% YoY; cuts annual opex run rate by $45-50M
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- Preliminary Q1 2025 revenue $36.9M vs $38.8M YoY; instrument revenue fell to $10.8M from $19.0M.
- Record consumable revenue of $20.1M (up from $16.0M); shipped 28 Vega systems in Q1 (vs 0 prior).
- Announces plan to reduce annualized non-GAAP opex run rate by $45-50M; expects ~$5M severance costs in 2025.
- Reiterates FY2025 revenue guidance $155-170M and non-GAAP gross margin 35-40%; targets positive cash flow by end of 2027.
- Cash and investments $343.1M at Q1 end; expects higher ending balance after cost cuts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1299130/000129913025000083/0001299130-25-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1299130/000129913025000083/pacb-20250409.htm
  HTML page:      https://secwatch.observer/filing/0001299130-25-000083

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