PACIFIC BIOSCIENCES OF CALIFORNIA INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
PACB$2.24-5.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations and Comprehensive Loss
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands, except per share amounts) | 2023 | 2022 | 2021 |
| Revenue: | |||
| Product revenue | $183,872 | $108,699 | $113,505 |
| Service and other revenue | 16,649 | 19,605 | 17,008 |
| Total revenue | 200,521 | 128,304 | 130,513 |
| Cost of Revenue: | |||
| Cost of product revenue | 127,568 | 60,932 | 56,358 |
| Cost of service and other revenue | 14,754 | 13,899 | 14,989 |
| Amortization of acquired intangible assets | 1,983 | 733 | 306 |
| Loss on purchase commitment | 3,436 | 3,705 | — |
| Total cost of revenue | 147,741 | 79,269 | 71,653 |
| Gross profit | 52,780 | 49,035 | 58,860 |
| Operating Expense: | |||
| Research and development | 187,170 | 193,000 | 112,899 |
| Sales, general and administrative | 169,818 | 160,854 | 124,124 |
| Merger-related expenses | 9,042 | — | 31,129 |
| Change in fair value of contingent consideration | 15,060 | 2,377 | 1,143 |
| Amortization of acquired intangible assets | 6,157 | — | — |
| Total operating expense | 387,247 | 356,231 | 269,295 |
| Operating loss | (334,467) | (307,196) | (210,435) |
| Loss from Continuation Advances from Illumina | — | — | (52,000) |
| Loss on extinguishment of debt | (2,033) | — | — |
| Interest expense | (14,343) | (14,690) | (12,530) |
| Other income, net | 32,684 | 7,638 | 93 |
| Loss before benefit from income taxes | (318,159) | (314,248) | (274,872) |
| Benefit from income taxes | (11,424) | — | (93,649) |
| Net loss | (306,735) | (314,248) | (181,223) |
| Other comprehensive income (loss): | |||
| Unrealized gain (loss) on investments | 4,984 | (3,678) | (1,172) |
| Comprehensive loss | $(301,751) | $(317,926) | $(182,395) |
| Net loss per share: | |||
| Basic | $(1.21) | $(1.40) | $(0.89) |
| Diluted | $(1.21) | $(1.40) | $(0.89) |
| Weighted average shares outstanding used in calculating net loss per share | |||
| Basic | 253,629 | 224,550 | 204,136 |
| Diluted | 253,629 | 224,550 | 204,136 |
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