Pacific Biosciences of California Inc

NASDAQ:PACBUnited States

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• -- Earnings Flash (PACB) PACIFIC BIOSCIENCES OF CALIFORNIA Reports Q1 Revenue $38.8M, from 12 hours ago by MT Newswires

  12 hours ago by MT Newswires
  Companies Mentioned: PACB
  04:25 PM EDT, 05/09/2024 (MT Newswires) -- ...

• PacBio Announces First Quarter 2024 Financial Results, from 13 hours ago by PR Newswire

  13 hours ago by PR Newswire
  Companies Mentioned: PACB

  PacBio (NASDAQ: PACB) today announced financial results for the quarter ended March 31, 2024.

  https://mma.prnewswire.com/media/1861430/PacBio_Logo.jpg

  First quarterresults:

  -- Revenue of $38.8 million compared with $38.9 million in the prior-year period.

• PacBio Announces First Quarter 2024 Financial Results, from 13 hours ago by Dow Jones

  13 hours ago by Dow Jones
  Companies Mentioned: PACB
  Accrued expenses 21,991 45,708 Deferred revenue 23,473 21,872 Operating lease liabilities 38,821 41,197 Contingent consideration liability 19,480 19,550 Convertible senior notes, net 892,545 892,243 Other liabilities 3,587 9,077 Stockholders' equity 649,017 701,304 ------------------------ ------------------------ Total Liabilities and Stockholders' Equity $ 1,669,920 $ 1,746,013 ======================== ======================== Pacific Biosciences of California, Inc. Reconciliation of Non-GAAP Financial Measures Three Months Ended (in thousands, except per March 31, December 31, March 31, share amounts) 2024 2023 2023 --------------------------- --------------------------- --------------------------- GAAP net loss $ (78,178) $ (82,018) $ (88,015) Change in fair value of contingent consideration (1) (70) 1,100 12,256 Amortization of acquired intangible assets 6,849 6,849 228 Merger-related expenses -- 63 -- Benefit from income taxes (2) -- (718) -- Restructuring (3) 2,224 --------------------------- --------------------------- --------------------------- Non-GAAP net loss $ (71,399) $ (72,500) $ (75,531) =========================== =========================== =========================== GAAP net loss per share $ (0.29) $ (0.31) $ (0.36) Change in fair value of contingent consideration (1) -- -- 0.05 Amortization of acquired intangible assets 0.03 0.03 -- Merger-related expenses -- -- -- Benefit from income taxes (2) -- -- -- Restructuring (3) -- 0.01 -- Non-GAAP net loss per share $ (0.26) $ (0.27) $ (0.31) =========================== =========================== =========================== GAAP gross profit $ 11,282 $ 9,571 $ 9,761 Amortization of acquired intangible assets 1,343 1,433 183 Restructuring (3) -- 112 -- --------------------------- --------------------------- --------------------------- Non-GAAP gross profit $ 12,625 $ 11,116 $ 9,944 =========================== =========================== =========================== GAAP gross profit % 29 % 16 % 25 % Non-GAAP gross profit % 33 % 19 % 26 % GAAP total operating expense $ 92,644 $ 97,119 $ 101,013 Change in fair value of contingent consideration (1) 70 (1,100) (12,256) Amortization of acquired intangible assets (5,506) (5,416) (45) Merger-related expenses -- (63) -- Restructuring (3) -- (2,112) -- --------------------------- --------------------------- --------------------------- Non-GAAP total operating expense $ 87,208 $ 88,428 $ 88,712 =========================== =========================== =========================== __________________ (1) Change in fair value of contingent consideration was due to fair value adjustments of milestone payments payable upon the achievement of the respective milestone event. (2) A deferred income tax benefit during the three months ended December 31, 2023 is related to the release of the valuation allowance for deferred tax assets due to the recognition of deferred tax liabilities in connection with the Apton acquisition. (3) Restructuring costs during the three months ended December 31, 2023 consist primarily of employee severance costs related to restructuring activities.
  

• *DJ Pacific Biosciences 1Q Loss/Shr 29c >PACB, from 13 hours ago by Dow Jones

  13 hours ago by Dow Jones
  Companies Mentioned: PACB
  Accrued expenses 21,991 45,708 Deferred revenue 23,473 21,872 Operating lease liabilities 38,821 41,197 Contingent consideration liability 19,480 19,550 Convertible senior notes, net 892,545 892,243 Other liabilities 3,587 9,077 Stockholders' equity 649,017 701,304 ------------------------ ------------------------ Total Liabilities and Stockholders' Equity $ 1,669,920 $ 1,746,013 ======================== ======================== Pacific Biosciences of California, Inc. Reconciliation of Non-GAAP Financial Measures Three Months Ended (in thousands, except per March 31, December 31, March 31, share amounts) 2024 2023 2023 --------------------------- --------------------------- --------------------------- GAAP net loss $ (78,178) $ (82,018) $ (88,015) Change in fair value of contingent consideration (1) (70) 1,100 12,256 Amortization of acquired intangible assets 6,849 6,849 228 Merger-related expenses -- 63 -- Benefit from income taxes (2) -- (718) -- Restructuring (3) 2,224 --------------------------- --------------------------- --------------------------- Non-GAAP net loss $ (71,399) $ (72,500) $ (75,531) =========================== =========================== =========================== GAAP net loss per share $ (0.29) $ (0.31) $ (0.36) Change in fair value of contingent consideration (1) -- -- 0.05 Amortization of acquired intangible assets 0.03 0.03 -- Merger-related expenses -- -- -- Benefit from income taxes (2) -- -- -- Restructuring (3) -- 0.01 -- Non-GAAP net loss per share $ (0.26) $ (0.27) $ (0.31) =========================== =========================== =========================== GAAP gross profit $ 11,282 $ 9,571 $ 9,761 Amortization of acquired intangible assets 1,343 1,433 183 Restructuring (3) -- 112 -- --------------------------- --------------------------- --------------------------- Non-GAAP gross profit $ 12,625 $ 11,116 $ 9,944 =========================== =========================== =========================== GAAP gross profit % 29 % 16 % 25 % Non-GAAP gross profit % 33 % 19 % 26 % GAAP total operating expense $ 92,644 $ 97,119 $ 101,013 Change in fair value of contingent consideration (1) 70 (1,100) (12,256) Amortization of acquired intangible assets (5,506) (5,416) (45) Merger-related expenses -- (63) -- Restructuring (3) -- (2,112) -- --------------------------- --------------------------- --------------------------- Non-GAAP total operating expense $ 87,208 $ 88,428 $ 88,712 =========================== =========================== =========================== __________________ (1) Change in fair value of contingent consideration was due to fair value adjustments of milestone payments payable upon the achievement of the respective milestone event. (2) A deferred income tax benefit during the three months ended December 31, 2023 is related to the release of the valuation allowance for deferred tax assets due to the recognition of deferred tax liabilities in connection with the Apton acquisition. (3) Restructuring costs during the three months ended December 31, 2023 consist primarily of employee severance costs related to restructuring activities.