PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
PACB$2.24-5.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| PACIFIC BIOSCIENCES OF CALIFORNIA, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
|---|---|---|---|
| Years Ended December 31, | |||
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net loss | $(309,851) | $(306,735) | $(314,248) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation | 13,774 | 11,463 | 9,480 |
| Amortization of intangible assets | 27,412 | 8,261 | 913 |
| Amortization of right-of-use assets | 12,165 | 6,810 | 6,925 |
| Share-based compensation expense | 71,036 | 72,118 | 78,613 |
| Impairment charges | 184,500 | — | — |
| Merger-related compensation expense | — | 3,395 | — |
| Loss on extinguishment of debt | — | 2,033 | — |
| Gain on debt restructuring | (154,407) | — | — |
| Accretion of discount and amortization of premium on marketable securities, net | (13,044) | (12,840) | (244) |
| Change in the estimated fair value of contingent consideration | (850) | 15,060 | 2,377 |
| Inventory provision | 4,618 | 10,584 | 6,027 |
| Deferred income taxes | (205) | (11,424) | — |
| Other | (628) | 1,059 | 918 |
| Changes in assets and liabilities | |||
| Accounts receivable, net | 9,091 | (17,829) | 5,455 |
| Inventory, net | (8,320) | (13,841) | (33,906) |
| Prepaid expenses and other assets | 2,228 | (8,984) | (12,324) |
| Accounts payable | 1,405 | 206 | 1,025 |
| Accrued expenses | (26,342) | 13,103 | (3,651) |
| Deferred revenue | (2,108) | (10,420) | (3,734) |
| Operating lease liabilities | (11,920) | (8,759) | (7,724) |
| Contingent consideration liability | — | (14,882) | — |
| Other liabilities | (4,612) | 2,449 | 887 |
| Net cash used in operating activities | (206,058) | (259,173) | (263,211) |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (6,188) | (8,843) | (16,750) |
| Purchase of intangible assets | — | — | (179) |
| Cash paid for purchases of acquired entities, net of cash acquired | — | (102) | — |
| Purchase of investments | (498,635) | (756,567) | (442,788) |
| Sales of investments | 34,856 | 595 | — |
| Maturities of investments | 593,971 | 769,521 | 575,800 |
| Net cash provided by investing activities | 124,004 | 4,604 | 116,083 |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock under equity offerings, net of issuance costs | — | 189,200 | — |
| Proceeds from issuance of common stock from equity plans | 7,703 | 15,319 | 11,230 |
| Payment of debt issuance costs | — | (7,375) | — |
| Payment of contingent consideration | — | (86,411) | — |
| PACIFIC BIOSCIENCES OF CALIFORNIA, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
|---|---|---|---|
| Payments made in conjunction with convertible notes exchange | (50,200) | — | — |
| Notes payable principal payoff | (490) | (1,842) | (1,608) |
| Net cash (used in) provided by financing activities | (42,987) | 108,891 | 9,622 |
| Net decrease in cash, cash equivalents, and restricted cash | (125,041) | (145,678) | (137,506) |
| Cash, cash equivalents, and restricted cash at beginning of period | 182,633 | 328,311 | 465,817 |
| Cash, cash equivalents, and restricted cash at end of period | $57,592 | $182,633 | $328,311 |
| Cash and cash equivalents at end of period | 55,370 | 179,911 | 325,089 |
| Restricted cash at end of period | 2,222 | 2,722 | 3,222 |
| Cash, cash equivalents, and restricted cash at end of period | $57,592 | $182,633 | $328,311 |
| Supplemental disclosure of cash flow information | |||
| Interest paid | $14,805 | $15,687 | $14,049 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Inventory transferred to property and equipment | $4,194 | $3,984 | $2,812 |
| Property and equipment transferred to inventory | $(2,572) | $(7,022) | $(715) |
| Right-of-use asset and liability additions and modifications | $18,253 | $— | $— |
| Issuance of common stock in conjunction with convertible notes exchange | $36,199 | $— | $— |
| Issuance of common stock in acquisition of Apton and Omniome | $— | $76,642 | $— |
| Issuance of common stock in connection with Apton liquidity event bonus plan | $— | $2,111 | $— |
| Convertible notes exchange | $— | $441,000 | $— |
| Issuance of common stock following milestone achievement | $— | $84,761 | $— |
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