PacBio Files Q2 2024 10-Q with Revenue Details

TL;DR

PACB Q2 10-Q filed. Revenue details out for Q2 and YTD. Check financials.

AI Summary

Pacific Biosciences of California, Inc. (PACB) filed its 10-Q for the period ending June 30, 2024. The company reported revenue for the second quarter of 2024 and year-to-date, with specific figures for product and service revenue. The filing also includes details on common stock and additional paid-in capital as of March 31, 2024.

Why It Matters

This filing provides investors with the latest financial performance data for Pacific Biosciences, crucial for understanding the company's revenue generation and financial health in the second quarter of 2024.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the financial performance and market conditions detailed within can present medium-level investment risks.

Key Numbers

• 2024-06-30 — Period End Date (Quarterly financial reporting period)
• 2024-01-01 — Year-to-Date Start Date (Reporting period for year-to-date financials)
• 2023-12-31 — Previous Fiscal Year End (Reference for comparative financial periods)
• 2024-03-31 — Common Stock Date (Date for common stock information)

Key Players & Entities

• PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240809 (date) — Filed as of Date
• 1305 O'BRIEN DRIVE (address) — Business Address
• MENLO PARK (city) — Business Address City
• CA (state) — Business Address State
• 94025 (zip_code) — Business Address Zip
• 650-521-8000 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PACB The NASDAQ Stock Market

Filing Documents

• pacb-20240630.htm (10-Q) — 1475KB
• pacb-10qxexx311xq2x24.htm (EX-31.1) — 10KB
• pacb-10qxexx312xq2x24.htm (EX-31.2) — 10KB
• pacb-10qxexx321xq2x24.htm (EX-32.1) — 5KB
• pacb-10qxexx322xq2x24.htm (EX-32.2) — 5KB
• pacb-20240630_g1.jpg (GRAPHIC) — 7KB
• 0001299130-24-000169.txt ( ) — 7623KB
• pacb-20240630.xsd (EX-101.SCH) — 43KB
• pacb-20240630_cal.xml (EX-101.CAL) — 78KB
• pacb-20240630_def.xml (EX-101.DEF) — 281KB
• pacb-20240630_lab.xml (EX-101.LAB) — 645KB
• pacb-20240630_pre.xml (EX-101.PRE) — 467KB
• pacb-20240630_htm.xml (XML) — 1048KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION PAGE No.

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 3 0 , 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 3 0 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended Ju ne 3 0 , 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 77

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 77

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 77

Other Information

Item 5. Other Information 77

Exhibits

Item 6. Exhibits 78

Signatures

Signatures 79 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except per share amounts) June 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 99,526 $ 179,911 Investments 410,276 451,505 Accounts receivable, net 32,433 36,615 Inventory, net 68,594 56,676 Prepaid expenses and other current assets 16,968 17,040 Short-term restricted cash 342 300 Total current assets 628,139 742,047 Property and equipment, net 34,910 36,432 Operating lease right-of-use assets, net 22,391 32,593 Long-term restricted cash 1,922 2,422 Intangible assets, net 443,278 456,984 Goodwill 369,061 462,261 Other long-term assets 9,790 13,274 Total assets $ 1,509,491 $ 1,746,013 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 17,488 $ 15,062 Accrued expenses 22,456 45,708 Deferred revenue, current 19,212 16,342 Operating lease liabilities, current 12,487 9,591 Other liabilities, current 6,747 8,326 Total current liabilities 78,390 95,029 Deferred revenue, non-current 5,706 5,530 Contingent consideration liability, non-current 19,480 19,550 Operating lease liabilities, non-current 19,620 31,606 Convertible senior notes, net, non-current 892,844 892,243 Other liabilities, non-current 751 751 Total liabilities 1,016,791 1,044,709 Commitments and contingencies Stockholders' equity Preferred stock, $ 0.001 par value: Authorized 50,000 shares; No shares issued or outstanding — — Common stock, $ 0.001 par value: Authorized 1,000,000 shares; issued and outstanding 272,491 and 267,744 shares at June 30, 2024 and December 31, 2023, respectively 272 268 Additional paid-in capital 2,583,523 2,539,892 Accumulated other comprehensive (loss) income ( 523 ) 219 Accumulated deficit ( 2,090,572 ) ( 1,839,075 ) Total stockholders' equity 492,700 701,304 Total liabilities and stockholders' equity $ 1,509,491 $ 1,746,013 See accompanying

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View this 10-Q filing on SEC EDGAR