PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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) | 2025 | 2024 | 2023 |
| Cash flows from operating activities | |||
| Net loss | $(546,376) | $(309,851) | $(306,735) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation | 12,987 | 13,774 | 11,463 |
| Amortization of intangible assets | 369,448 | 27,412 | 8,261 |
| Amortization of right-of-use assets | 3,977 | 12,165 | 6,810 |
| Share-based compensation expense | 41,668 | 71,036 | 72,118 |
| Impairment charges | 15,000 | 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 | (4,365) | (13,044) | (12,840) |
| Change in the estimated fair value of contingent consideration | (18,700) | (850) | 15,060 |
| Inventory provision | 9,568 | 4,618 | 10,584 |
| Deferred income taxes | (546) | (205) | (11,424) |
| Other | 1,688 | (628) | 1,059 |
| Changes in assets and liabilities | |||
| Accounts receivable, net | (7,924) | 9,091 | (17,829) |
| Inventory, net | (1,419) | (8,320) | (13,841) |
| Prepaid expenses and other assets | 8,514 | 2,228 | (8,984) |
| Accounts payable | 2,482 | 1,405 | 206 |
| Accrued expenses | 3,158 | (26,342) | 13,103 |
| Deferred revenue | 101 | (2,108) | (10,420) |
| Operating lease liabilities | 723 | (11,920) | (8,759) |
| Contingent consideration liability | — | — | (14,882) |
| Other liabilities | (1,193) | (4,612) | 2,449 |
| Net cash used in operating activities | (111,209) | (206,058) | (259,173) |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (2,714) | (6,188) | (8,843) |
| Purchase of intangible assets | (5,000) | — | — |
| Cash paid for purchases of acquired entities, net of cash acquired | — | — | (102) |
| Purchase of investments | (216,911) | (498,635) | (756,567) |
| Sales of investments | — | 34,856 | 595 |
| Maturities of investments | 340,073 | 593,971 | 769,521 |
| Net cash provided by investing activities | 115,448 | 124,004 | 4,604 |
| 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 | 3,428 | 7,703 | 15,319 |
| 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) |
| Net cash provided by (used in) financing activities | 3,428 | (42,987) | 108,891 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 7,667 | (125,041) | (145,678) |
| Cash, cash equivalents, and restricted cash at beginning of period | 57,592 | 182,633 | 328,311 |
| Cash, cash equivalents, and restricted cash at end of period | $65,259 | $57,592 | $182,633 |
| Cash and cash equivalents at end of period | 63,707 | 55,370 | 179,911 |
| Restricted cash at end of period | 1,552 | 2,222 | 2,722 |
| Cash, cash equivalents, and restricted cash at end of period | $65,259 | $57,592 | $182,633 |
| Supplemental disclosure of cash flow information | |||
| Interest paid | $8,264 | $14,805 | $15,687 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Inventory transferred to property and equipment | $2,941 | $4,194 | $3,984 |
| Property and equipment transferred to inventory | $(1,620) | $(2,572) | $(7,022) |
| Right-of-use asset and liability additions and modifications | $29,575 | $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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