Quarterly ResultMay 7, 2026, 04:24 PM
PacBio Q1 Net Loss Narrows to $8.3M; Revenue Flat at $37.2M
AI Summary
PacBio announced its first quarter 2026 financial results, reporting a significant reduction in GAAP net loss to $8.3 million, a substantial improvement from the $426.1 million loss in Q1 2025. Total revenue remained flat year-over-year at $37.2 million, with consumable revenue increasing to $21.8 million while instrument revenue declined to $9.7 million. The company also completed the sale of short-read sequencing assets for $48.1 million and provided full-year 2026 revenue guidance of $165 million to $175 million, alongside progress in its SPRQ-Nx beta program and new collaborations.
Key Highlights
- Q1 2026 GAAP net loss significantly narrowed to $8.3 million from $426.1 million in Q1 2025.
- Total revenue for Q1 2026 was flat year-over-year at $37.2 million.
- Consumable revenue increased to $21.8 million in Q1 2026 from $20.1 million in Q1 2025.
- Instrument revenue decreased to $9.7 million in Q1 2026 from $11.0 million in Q1 2025.
- Completed sale of short-read sequencing assets for net cash proceeds of approximately $48.1 million.
- EMEA revenue grew by 17% year-over-year due to increased consumables demand.
- Full year 2026 revenue is expected to be in the range of $165 million to $175 million.
- Ending cash, cash equivalents, and investments stood at $276.0 million.