Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________ (I.R.S. Employer Identification No.) Form 10-K (Mark One) For the transition period from to Commission File Number 001-34899 ________________________________________________________________________________ Pacific Biosciences of California, Inc. (Exact name of registrant as specified in its charter) ________________________________________ ...

Collaboration powers secure international data sharing through the HiFi Solves Global ConsortiumMENLO PARK, Calif., Feb. 24, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), developer of the world’s most advanced sequencing technologies, today announced a collaboration with DNAstack to power the world’s first global federated dataset of HiFi whole genome sequencing data. Through the HiFi Solves Global Consortium, the collaboration enables secure international research — allowing genomic insights to travel ac ...

An updated edition of the Jan. 6, 2026, article.Genomics is the comprehensive study of genomes—the complete set of deoxyribonucleic acid (DNA) within an organism. Rapid scientific progress in this field has intensified interest among pharmaceutical and biotechnology companies seeking deeper insight into disease biology and more effective therapeutic strategies.It is important to distinguish between genetics and genomics. Genetics focuses on individual genes and their functions, whereas genomics primarily ai ...

MENLO PARK, Calif., Feb. 18, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will participate in a fireside chat at TD Cowen's 46th Annual Health Care Conference on Monday, March 2, 2026, at 2:30 PM ET in Boston, MA. A live webcast of the event can be accessed at the company’s investors page at investor.pacificbiosciences.com. A replay of the webcast will be available for at least 30 days following the ...

MENLO PARK, Calif., Feb. 18, 2026 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will participate in a fireside chat at TD Cowen's 46th Annual Health Care Conference on Monday, March 2, 2026, at 2:30 PM ET in Boston, MA. A live webcast of the event can be accessed at the company’s investors page at investor.pacificbiosciences.com. A replay of the webcast will be available for at least 30 days following the ...

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Key Takeaways PacBio reported Q4 revenues of $44.6M, up 13.8%, beating estimates.PACB's adjusted gross margin expanded 900 bps to 41%, operating loss narrowed.PACB guides 2026 revenue to $165-$180M, up 3-12% year over year.Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, delivered an adjusted loss per share of 12 cents in fourth-quarter 2025, narrower than the year-ago adjusted loss of 20 cents per share. The adjusted loss per share topped the Zacks Consensus Estimate by 36.8%.The ...

分组1 - Pacific Biosciences reported a quarterly loss of $0.12 per share, better than the Zacks Consensus Estimate of a loss of $0.19, representing an earnings surprise of +36.84% [1] - The company posted revenues of $44.65 million for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 9.42%, compared to $39.22 million in the same quarter last year [2] - The stock has underperformed the market, losing about 1.6% since the beginning of the year, while the S&P 500 gained 1.4% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.17 on revenues of $42 million, and for the current fiscal year, it is -$0.57 on revenues of $177.35 million [7] - The Zacks Industry Rank for Medical - Instruments is in the top 34% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue grew 14% year-over-year to $44.6 million, with a sequential increase of 16% [7][27] - For the full year 2025, total revenue reached $160 million, representing a 4% growth over 2024 [7][30] - Non-GAAP gross margin improved to 40% in Q4 2025, up from 31% in Q4 2024, and for the full year, it was also 40%, compared to 33% in 2024 [31][24] - Non-GAAP operating expenses decreased to $56.2 million in Q4 2025, down 18% year-over-year, and for the full year, they were $229.9 million, down from $289.2 million in 2024 [32][24] - Cash burn improved from $214 million in 2023 to $105 million in 2025, with approximately $280 million in cash and investments at year-end [25][34] Business Line Data and Key Metrics Changes - Consumable revenue in Q4 2025 increased 15% year-over-year to $21.6 million, driven by an increase in the installed base and consistent system utilization [27][28] - Instrument revenue rose 13% in Q4 to $17.3 million, primarily due to increased shipments of Vega systems [28] - For the full year 2025, consumables revenue increased 16% to $82 million, while instrument revenue decreased 18% to $53.8 million [30] Market Data and Key Metrics Changes - Revenue from the Americas increased 3% to $20.7 million in Q4 2025, while Asia Pacific revenue rose 4% to $9.3 million, and EMEA revenue surged 45% to $14.6 million [29][10] - EMEA's strong growth was attributed to increased Vega instrument shipments and higher Revio consumables as clinical customers transitioned from pilot testing to broader adoption [11][29] Company Strategy and Development Direction - The company aims to enhance the economics of HiFi sequencing through the launch of SparkNex and multi-use smart cells, targeting increased market penetration [37] - Focus areas include accelerating clinical adoption in rare disease, oncology, and carrier screening, as well as enabling population-scale sequencing studies [37] - The company plans to leverage AI to unlock biological insights from multi-omic HiFi data [37] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued growth in clinical markets, particularly in rare disease and whole genome sequencing, despite a challenging academic funding environment [11][54] - The outlook for 2026 projects revenue between $165 million and $180 million, representing approximately 8% growth at the midpoint [34] - Management expects non-GAAP gross margin to improve by 100-400 basis points in 2026, driven by a higher consumables mix and the introduction of SparkNex [35] Other Important Information - The company sold its short-read sequencing assets for net proceeds of approximately $48 million, strengthening its balance sheet and extending its cash runway [26] - The company is committed to supporting existing customers during the transition period following the divestment of short-read assets [26] Q&A Session Summary Question: What should we expect for Revio pull-through and consumables growth? - Management expects SparkNex to lower sample costs, likely increasing utilization and expanding market share, while maintaining pull-through in the range of $225K-$250K [41][43] Question: What is the outlook for clinical growth outside the U.S.? - Management sees strong growth in clinical markets, particularly in EMEA, with significant movement from pilot phases to production [53] Question: Where are the biggest opportunities for OpEx reduction? - Management plans to focus on managing G&A expenses and R&D while continuing to reduce production costs through insourcing [66][68] Question: What impact will the short-read divestment have on costs? - Management indicated that while there won't be substantial additional costs taken out immediately, the divestment will provide a tailwind to gross margin over time [72] Question: How does long-read sequencing compare to standard care in terms of cost? - Long-read sequencing is expected to provide better diagnostic yield, faster turnaround times, and lower overall costs by consolidating multiple tests into one [74]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue grew 14% year-over-year to $44.6 million, with a sequential increase of 16% [7][26] - For the full year 2025, total revenue reached $160 million, representing a 4% growth over 2024 [7][30] - Non-GAAP gross margin improved to 40% in Q4 2025, up from 31% in Q4 2024, and also increased from 33% in 2024 to 40% in 2025 [31][23] - Non-GAAP operating expenses decreased from $355 million in 2023 to $230 million in 2025, a 35% reduction [23][32] - Cash burn improved from $214 million in 2023 to $105 million in 2025, representing a 51% improvement [24] Business Line Data and Key Metrics Changes - Consumable revenue in Q4 2025 increased 15% year-over-year to $21.6 million, driven by an increase in the installed base and consistent system utilization [26][30] - Instrument revenue increased 13% in Q4 2025 to $17.3 million, primarily due to an increase in Vega systems [27] - For the full year 2025, consumables revenue grew 16% to $82 million, while instrument revenue decreased 18% to $53.8 million [30] Market Data and Key Metrics Changes - In Q4 2025, Americas revenue increased 3% to $20.7 million, Asia Pacific revenue increased 4% to $9.3 million, and EMEA revenue surged 45% to $14.6 million [10][29] - EMEA's strong growth was attributed to increased Vega instrument shipments and higher Revio consumables as clinical customers shifted to broader clinical adoption [11][29] Company Strategy and Development Direction - The company aims to improve the economics of HiFi sequencing through the launch of SparkNex and multi-use smart cells [38] - Focus on accelerating clinical adoption in rare disease, oncology, and carrier screening, while enabling population-scale sequencing studies [38] - The strategy includes leveraging AI to unlock biological insights and driving innovation in sequencing technology [38] Management's Comments on Operating Environment and Future Outlook - Management expects 2026 revenue to be in the range of $165 million to $180 million, representing approximately 8% growth at the midpoint [11][34] - The company anticipates continued pressure from the academic funding environment, particularly in the Americas, impacting capital spending [34][35] - Management is optimistic about the growth in clinical markets, especially in EMEA, despite the challenges in the academic sector [53] Other Important Information - The company sold its short-read sequencing assets for net proceeds of approximately $48 million, strengthening its balance sheet [25] - The introduction of SparkNex is expected to enhance gross margins and improve the overall financial profile [21][23] Q&A Session Summary Question: What should we expect OUS to do this year from a clinical growth perspective? - Management noted strong growth in clinical markets, particularly in rare disease and whole genome sequencing, especially in EMEA, with customers moving from pilot phases to production [53] Question: Where's the biggest opportunity to reduce OpEx spending this year? - Management indicated a focus on managing G&A expenses and R&D while maintaining critical programs, with a goal to reduce non-headcount-related spending [66] Question: Did you see any budget flush, particularly from Europe in full Q25? - Management did not observe significant budget flush but noted some opportunistic purchasing [51][52]