Quarterly ResultMay 8, 2026, 05:32 PM
Pacific Biosciences Q1 Net Loss Narrows to $8.3M from $426.1M
AI Summary
Pacific Biosciences reported a significant reduction in its net loss for Q1 2026, narrowing to $8.3 million from $426.1 million in Q1 2025, primarily due to the absence of a large amortization charge from the prior year. Total revenue remained flat at $37.2 million. The company completed an asset sale to Illumina for $50.0 million cash, resulting in a $45.8 million gain, and incurred $15.4 million in settlement charges related to a patent infringement lawsuit with Personal Genomics of Taiwan.
Key Highlights
- Net loss significantly narrowed to $8.3 million in Q1 2026 from $426.1 million in Q1 2025.
- Net loss per share improved to $(0.03) in Q1 2026 from $(1.44) in Q1 2025.
- Total revenue was flat at $37.2 million in Q1 2026 compared to $37.2 million in Q1 2025.
- Gross profit increased to $12.8 million in Q1 2026 from a loss of $(1.4) million in Q1 2025.
- Recognized a $45.8 million gain on disposal of assets from the Illumina sale.
- Incurred $15.4 million in settlement charges for a patent infringement lawsuit.
- Cash and cash equivalents decreased to $56.3 million from $63.7 million at year-end 2025.
- Net cash used in operating activities was $(44.7) million in Q1 2026.
Price Impact
More from PACB