PACIFIC BIOSCIENCES OF CALIFORNIA, INC. PACB
We are a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions that enable scientists and clinical researchers to improve their understanding of the genome and ultimately, resolve genetically complex problems.
Our products and technology, which include our HiFi long-read sequencing technology, address a broad set of applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications.
Our focus is on creating some of the world's most advanced sequencing systems to provide our customers with the most complete and accurate view of genomes, transcriptomes, and epigenomes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $160.0M | $154.0M | $200.5M | $128.3M | $130.5M | $78.9M | $90.9M | $78.6M | $93.5M | $90.7M |
| Cost of revenue | $114.2M | $116.7M | $147.7M | $79.3M | $71.7M | $46.3M | $56.3M | $53.5M | $58.8M | $46.6M |
| Gross profit | $45.8M | $37.3M | $52.8M | $49.0M | $58.9M | $32.6M | $34.6M | $25.1M | $34.7M | $44.2M |
| R&D | $97.3M | $134.9M | $187.2M | $193.0M | $112.9M | $64.2M | $59.6M | $62.6M | $65.3M | $67.6M |
| SG&A | $141.5M | $175.0M | $169.8M | $160.9M | $124.1M | $72.8M | $75.5M | $63.5M | $59.1M | $47.8M |
| Total operating expenses | $599.6M | $511.6M | $387.2M | $356.2M | $269.3M | $137.0M | $135.1M | $126.1M | $124.4M | $115.4M |
| Operating income | -$553.9M | -$474.3M | -$334.5M | -$307.2M | -$210.4M | -$104.4M | -$100.5M | -$101.0M | -$89.8M | -$71.2M |
| Interest expense | $7.0M | $13.4M | $14.3M | $14.7M | $12.5M | $267.0K | $2.6M | $2.4M | $2.9M | $3.2M |
| Pre-tax income | -$546.1M | -$309.5M | -$318.2M | -$314.2M | -$274.9M | $29.4M | -$84.1M | — | — | — |
| Income tax | $318.0K | $316.0K | $11.4M | $0 | $93.6M | — | — | — | — | — |
| Net income | -$546.4M | -$309.9M | -$306.7M | -$314.2M | -$181.2M | $29.4M | -$84.1M | -$102.6M | -$92.2M | -$74.4M |
| EPS, basic | -1.82 | -1.13 | -1.21 | -1.40 | -0.89 | 0.18 | -0.55 | -0.76 | — | — |
| EPS, diluted | -1.82 | -1.59 | -1.21 | -1.40 | -0.89 | 0.17 | -0.55 | -0.76 | -0.87 | -0.83 |
| Shares, diluted (wtd. avg.) | $300.0M | $288.4M | $253.6M | $224.6M | $204.1M | $175.0M | $152.5M | $135.1M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $63.7M | $55.4M | $179.9M | $328.3M | $465.8M | $85.9M | $33.9M | $33.9M | $23.6M | $21.3M |
| Short-term investments | $215.8M | $334.6M | $451.5M | $447.2M | $583.7M | $237.2M | $19.5M | $83.5M | $46.4M | $55.2M |
| Receivables | $35.4M | $27.5M | $36.6M | $18.8M | $24.2M | $16.8M | $15.3M | $8.6M | $13.4M | $11.4M |
| Inventory | $49.3M | $58.8M | $56.7M | $50.4M | $24.6M | $14.2M | $13.3M | $17.9M | $23.1M | $15.6M |
| Total current assets | $375.1M | $495.7M | $742.0M | $852.1M | $1.10B | $355.6M | $81.0M | $131.7M | $101.6M | $109.0M |
| Property, plant and equipment | $24.1M | $30.5M | $36.4M | $41.6M | $32.5M | $24.9M | $30.1M | $34.1M | $37.9M | $14.6M |
| Goodwill | $317.8M | $317.8M | $462.3M | $410.0M | $410.0M | — | — | — | — | — |
| Other intangibles | $15.1M | $389.6M | $457.0M | $410.2M | $411.0M | — | — | — | — | — |
| Total assets | $784.1M | $1.26B | $1.75B | $1.77B | $2.01B | $414.0M | $148.0M | $170.3M | $144.1M | $137.9M |
| Accounts payable | $20.8M | $16.6M | $15.1M | $12.0M | $11.0M | $3.6M | $8.4M | $6.7M | $9.1M | $8.4M |
| Short-term debt | — | $0 | $490.0K | $1.8M | $1.6M | — | — | — | — | — |
| Total current liabilities | $72.8M | $66.3M | $95.0M | $263.3M | $71.7M | $38.5M | $49.2M | $26.9M | $28.6M | $33.8M |
| Long-term debt | — | — | — | $896.7M | $896.1M | — | $15.9M | $14.7M | $13.6M | $16.1M |
| Total liabilities | $778.7M | $753.9M | $1.04B | $1.20B | $1.22B | $78.5M | $93.1M | $56.2M | $58.0M | $53.2M |
| Retained earnings | -$2.70B | -$2.15B | -$1.84B | -$1.53B | -$1.22B | -$1.04B | -$1.07B | -$982.1M | -$879.7M | -$787.5M |
| Total equity | $5.3M | $506.6M | $701.3M | $562.9M | $791.0M | $335.5M | $54.9M | $114.1M | $86.1M | $84.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$111.2M | -$206.1M | -$259.2M | -$263.2M | -$111.2M | $19.5M | -$78.3M | -$66.4M | -$67.5M | -$67.9M |
| Depreciation and amortisation | $13.0M | $13.8M | $11.5M | $9.5M | $7.2M | $6.4M | $7.3M | $6.4M | $8.4M | $3.9M |
| Stock-based compensation | $41.7M | $71.0M | $72.1M | $78.6M | $73.4M | $17.5M | $16.4M | $23.2M | $20.4M | $19.6M |
| Capital expenditure | $2.7M | $6.2M | $8.8M | $16.8M | $5.9M | $1.0M | $2.8M | $1.9M | $10.4M | $8.2M |
| Investing cash flow | $115.4M | $124.0M | $4.6M | $116.1M | -$678.5M | -$219.3M | $62.0M | -$38.4M | -$1.5M | -$14.9M |
| Financing cash flow | $3.4M | -$43.0M | $108.9M | $9.6M | $1.17B | $251.8M | $26.5M | $107.2M | $68.8M | $65.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001299130-26-000064.
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