Pacific Biosciences of California (PACB) Financials

$1.26 +0.08 (+6.30%)

As of 01:53 PM Eastern

Annual Income Statements for Pacific Biosciences of California

This table shows Pacific Biosciences of California's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-314	-307	-310
Consolidated Net Income / (Loss)	-314	-307	-310
Net Income / (Loss) Continuing Operations	-314	-307	-310
Total Pre-Tax Income	-314	-318	-310
Total Operating Income	-307	-334	-474
Total Gross Profit	49	53	37
Total Revenue	128	201	308
Operating Revenue	128	201	308
Total Cost of Revenue	79	148	117
Operating Cost of Revenue	79	148	116
Total Operating Expenses	356	387	512
Selling, General & Admin Expense	161	170	175
Research & Development Expense	193	187	135
Amortization Expense	0.00	6.16	18
Impairment Charge	0.00	0.00	185
Restructuring Charge	0.00	9.04	0.00
Other Special Charges / (Income)	2.38	15	-0.85
Total Other Income / (Expense), net	-7.05	16	10
Interest Expense	15	16	13
Other Income / (Expense), net	7.64	33	24
Income Tax Expense	0.00	-11	0.32
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-0.20
Basic Earnings per Share	($1.40)	($1.21)	($1.13)
Weighted Average Basic Shares Outstanding	224.55M	253.63M	274.49M
Diluted Earnings per Share	($1.40)	($1.21)	($1.59)
Weighted Average Diluted Shares Outstanding	224.55M	253.63M	288.37M
Weighted Average Basic & Diluted Shares Outstanding	247.08M	267.95M	297.85M
Cash Dividends to Common per Share	-	$0.00	$0.00

This table shows Pacific Biosciences of California's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-78	-84	-85	-71	-66	-85	-79	-174	-59	1.24
Consolidated Net Income / (Loss)	-77	-84	-88	-70	-67	-82	-78	-173	-61	2.37
Net Income / (Loss) Continuing Operations	-77	-85	-88	-70	-67	-82	-78	-173	-61	2.37
Total Pre-Tax Income	-77	-84	-88	-70	-78	-83	-78	-173	-61	2.69
Total Operating Income	-75	-87	-91	-73	-82	-88	-81	-176	-64	-153
Total Gross Profit	14	5.14	9.76	16	18	9.57	11	5.94	10	10
Total Revenue	32	27	39	48	56	58	39	36	40	193
Operating Revenue	32	27	39	48	56	58	39	36	40	193
Total Cost of Revenue	19	22	29	32	38	49	28	30	30	29
Operating Cost of Revenue	19	22	29	32	38	49	28	29	30	29
Total Operating Expenses	88	92	101	89	100	97	93	182	74	163
Selling, General & Admin Expense	37	45	40	41	43	46	44	46	44	42
Research & Development Expense	47	43	49	46	48	45	43	38	26	27
Amortization Expense	-	-	0.00	0.00	0.74	5.42	5.51	4.22	3.65	4.63
Other Special Charges / (Income)	4.28	4.60	12	1.98	-0.27	1.10	-0.07	0.00	1.17	-1.95
Total Other Income / (Expense), net	-2.35	2.96	3.24	3.34	4.92	4.81	3.18	2.53	3.35	1.31
Interest Expense	3.66	3.65	3.63	5.59	3.59	3.57	3.58	3.54	3.54	2.76
Other Income / (Expense), net	1.31	-	6.87	8.93	8.51	8.38	6.76	6.07	6.89	4.07
Income Tax Expense	0.00	-	0.00	0.00	-11	-0.72	0.00	0.00	0.00	0.32
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	0.80	-	-2.84	0.76	-0.85	-	0.53	0.22	-2.08	1.13
Basic Earnings per Share	($0.34)	($0.37)	($0.36)	($0.28)	($0.26)	($0.31)	($0.29)	($0.64)	($0.22)	$0.02
Weighted Average Basic Shares Outstanding	225.12M	224.55M	242.03M	250.07M	255.00M	253.63M	269.58M	272.39M	272.92M	274.49M
Diluted Earnings per Share	($0.34)	($0.37)	($0.36)	($0.28)	($0.26)	($0.31)	($0.29)	($0.64)	($0.22)	($0.44)
Weighted Average Diluted Shares Outstanding	225.12M	224.55M	242.03M	250.07M	255.00M	253.63M	269.58M	272.39M	272.92M	288.37M
Weighted Average Basic & Diluted Shares Outstanding	226.11M	247.08M	249.89M	250.56M	267.44M	267.95M	272.36M	272.53M	273.86M	297.85M

This table details how cash moves in and out of Pacific Biosciences of California's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-138	-146	-125
Net Cash From Operating Activities	-263	-259	-206
Net Cash From Continuing Operating Activities	-263	-259	-206
Net Income / (Loss) Continuing Operations	-314	-307	-310
Consolidated Net Income / (Loss)	-314	-307	-310
Depreciation Expense	9.48	11	14
Amortization Expense	7.59	2.23	27
Non-Cash Adjustments To Reconcile Net Income	86	89	105
Changes in Operating Assets and Liabilities, net	-52	-55	-42
Net Cash From Investing Activities	116	4.60	124
Net Cash From Continuing Investing Activities	116	4.60	124
Purchase of Property, Plant & Equipment	-17	-8.84	-6.19
Acquisitions	-0.18	-0.10	0.00
Purchase of Investments	-443	-757	-499
Sale and/or Maturity of Investments	576	770	629
Net Cash From Financing Activities	9.62	109	-43
Net Cash From Continuing Financing Activities	9.62	109	-43
Repayment of Debt	-1.61	-9.22	-0.49
Issuance of Common Equity	11	205	7.70
Other Financing Activities, net	0.00	-86	-50
Cash Interest Paid	14	16	15

This table details how cash moves in and out of Pacific Biosciences of California's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-6.01	21	29	-145	176	-206	-103	22	-22	-23
Net Cash From Operating Activities	-63	-61	-95	-42	-65	-58	-76	-54	-45	-31
Net Cash From Continuing Operating Activities	-62	-61	-95	-42	-65	-58	-76	-54	-45	-31
Net Income / (Loss) Continuing Operations	-77	-84	-88	-70	-67	-82	-78	-173	-61	2.37
Consolidated Net Income / (Loss)	-77	-84	-88	-70	-67	-82	-78	-173	-61	2.37
Depreciation Expense	2.35	2.54	2.76	2.83	2.90	2.98	3.24	3.50	4.19	2.84
Amortization Expense	6.13	0.69	-0.39	-1.92	-1.42	5.97	4.74	7.25	8.82	5.73
Non-Cash Adjustments To Reconcile Net Income	17	22	22	21	24	23	20	115	18	-48
Changes in Operating Assets and Liabilities, net	-10	-1.08	-31	6.48	-24	-7.36	-25	-6.33	-16	6.21
Net Cash From Investing Activities	54	80	-73	-99	242	-67	-34	77	23	58
Net Cash From Continuing Investing Activities	54	80	-73	-99	242	-67	-34	77	23	58
Purchase of Property, Plant & Equipment	-4.19	-4.90	-3.72	-2.27	-0.83	-2.02	-3.88	-1.48	0.79	-1.62
Purchase of Investments	-67	-135	-233	-244	-77	-203	-192	-112	-115	-80
Sale and/or Maturity of Investments	125	220	164	147	320	138	162	190	137	140
Net Cash From Financing Activities	3.13	0.82	196	-4.72	-0.78	-82	6.55	-0.15	0.81	-50
Net Cash From Continuing Financing Activities	3.13	0.82	196	-4.72	-0.78	-82	6.55	-0.15	0.81	-50
Other Financing Activities, net	-	-	-	-	-	-82	-	-	-	-50

This table presents Pacific Biosciences of California's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,767	1,746	1,260
Total Current Assets	852	742	496
Cash & Equivalents	325	180	55
Restricted Cash	0.30	0.30	0.69
Short-Term Investments	447	452	335
Accounts Receivable	19	37	28
Inventories, net	50	57	59
Prepaid Expenses	10	17	19
Plant, Property, & Equipment, net	42	36	31
Total Noncurrent Assets	873	968	734
Goodwill	410	462	318
Intangible Assets	410	457	390
Other Noncurrent Operating Assets	50	46	25
Other Noncurrent Nonoperating Assets	2.92	2.42	1.53
Total Liabilities & Shareholders' Equity	1,767	1,746	1,260
Total Liabilities	1,204	1,045	754
Total Current Liabilities	263	95	66
Accounts Payable	12	15	17
Accrued Expenses	33	46	23
Current Deferred Revenue	30	16	14
Other Current Liabilities	16	18	13
Total Noncurrent Liabilities	941	950	688
Long-Term Debt	897	892	647
Noncurrent Deferred Revenue	1.79	5.53	5.90
Other Noncurrent Operating Liabilities	42	52	34
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	563	701	507
Total Preferred & Common Equity	563	701	507
Preferred Stock	0.00	0.00	0.00
Total Common Equity	563	701	507
Common Stock	2,100	2,540	2,655
Retained Earnings	-1,532	-1,839	-2,149
Accumulated Other Comprehensive Income / (Loss)	-4.77	0.22	0.42

This table presents Pacific Biosciences of California's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	1,819	1,896	1,848	1,898	1,670	1,509	1,450
Total Current Assets	914	981	936	882	677	628	584
Cash & Equivalents	304	354	209	386	77	100	78
Restricted Cash	0.30	0.30	0.30	0.30	0.30	0.34	0.69
Short-Term Investments	530	521	621	382	485	410	393
Accounts Receivable	23	30	24	30	30	32	29
Inventories, net	43	62	68	68	67	69	66
Prepaid Expenses	13	14	14	15	17	17	17
Plant, Property, & Equipment, net	39	41	40	40	37	35	32
Total Noncurrent Assets	866	874	872	976	956	846	834
Goodwill	410	410	410	464	462	369	369
Intangible Assets	410	410	410	462	450	443	436
Other Noncurrent Operating Assets	43	52	50	48	41	32	27
Other Noncurrent Nonoperating Assets	2.92	2.92	2.42	2.42	2.42	1.92	1.53
Total Liabilities & Shareholders' Equity	1,819	1,896	1,848	1,898	1,670	1,509	1,450
Total Liabilities	1,192	1,204	1,206	1,135	1,021	1,017	997
Total Current Liabilities	82	266	271	184	73	78	60
Accounts Payable	13	17	17	16	21	17	12
Accrued Expenses	25	19	27	35	22	22	19
Current Deferred Revenue	31	31	25	22	17	19	17
Other Current Liabilities	13	14	17	15	13	19	11
Total Noncurrent Liabilities	1,111	939	934	951	948	938	937
Long-Term Debt	897	897	892	892	893	893	893
Noncurrent Deferred Revenue	1.76	1.85	4.99	5.05	6.13	5.71	5.46
Other Noncurrent Operating Liabilities	212	40	37	54	49	40	38
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	627	692	642	764	649	493	453
Total Preferred & Common Equity	627	692	642	764	649	493	453
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	627	692	642	764	649	493	453
Common Stock	2,081	2,314	2,335	2,523	2,567	2,584	2,603
Retained Earnings	-1,448	-1,620	-1,690	-1,757	-1,917	-2,091	-2,151
Accumulated Other Comprehensive Income / (Loss)	-6.26	-1.92	-2.69	-1.84	-0.31	-0.52	1.55

This table displays calculated financial ratios and metrics derived from Pacific Biosciences of California's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	-1.69%	56.29%	53.61%
EBITDA Growth	-14.48%	-1.98%	-42.39%
EBIT Growth	-14.19%	-0.74%	-49.29%
NOPAT Growth	-45.98%	-8.88%	-41.81%
Net Income Growth	-73.40%	2.39%	-1.02%
EPS Growth	-57.30%	13.57%	-31.41%
Operating Cash Flow Growth	-136.74%	1.53%	20.49%
Free Cash Flow Firm Growth	43.87%	22.19%	60.12%
Invested Capital Growth	34.28%	12.06%	-20.58%
Revenue Q/Q Growth	-6.33%	18.29%	77.90%
EBITDA Q/Q Growth	-6.06%	11.64%	-20.64%
EBIT Q/Q Growth	-5.19%	9.65%	-18.33%
NOPAT Q/Q Growth	-7.87%	-0.14%	-16.02%
Net Income Q/Q Growth	-5.03%	0.77%	21.41%
EPS Q/Q Growth	-4.48%	4.72%	-8.90%
Operating Cash Flow Q/Q Growth	-12.31%	1.15%	11.55%
Free Cash Flow Firm Q/Q Growth	-85.99%	36.30%	24.27%
Invested Capital Q/Q Growth	24.88%	-2.24%	-12.71%
Profitability Metrics	-	-	-
Gross Margin	38.22%	26.32%	12.10%
EBITDA Margin	-220.17%	-143.67%	-133.18%
Operating Margin	-239.43%	-166.80%	-153.98%
EBIT Margin	-233.48%	-150.50%	-146.26%
Profit (Net Income) Margin	-244.92%	-152.97%	-100.59%
Tax Burden Percent	100.00%	96.41%	100.10%
Interest Burden Percent	104.90%	105.43%	68.70%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-28.79%	-25.79%	-38.58%
ROIC Less NNEP Spread (ROIC-NNEP)	-170.71%	-52.13%	-29.94%
Return on Net Nonoperating Assets (RNNOA)	-17.63%	-22.73%	-12.73%
Return on Equity (ROE)	-46.42%	-48.53%	-51.30%
Cash Return on Invested Capital (CROIC)	-58.06%	-37.17%	-15.63%
Operating Return on Assets (OROA)	-15.87%	-17.18%	-29.97%
Return on Assets (ROA)	-16.65%	-17.46%	-20.61%
Return on Common Equity (ROCE)	-46.42%	-48.53%	-51.30%
Return on Equity Simple (ROE_SIMPLE)	-55.83%	-43.74%	-61.16%
Net Operating Profit after Tax (NOPAT)	-215	-234	-332
NOPAT Margin	-167.60%	-116.76%	-107.79%
Net Nonoperating Expense Percent (NNEP)	141.92%	26.34%	-8.64%
Return On Investment Capital (ROIC_SIMPLE)	-13.18%	-14.69%	-28.77%
Cost of Revenue to Revenue	61.78%	73.68%	37.90%
SG&A Expenses to Revenue	125.37%	84.69%	56.82%
R&D to Revenue	150.42%	93.34%	43.80%
Operating Expenses to Revenue	277.65%	193.12%	166.09%
Earnings before Interest and Taxes (EBIT)	-300	-302	-451
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-282	-288	-410
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	3.29	3.74	0.99
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	14.42	13.08	1.63
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.51	3.01	0.99
Enterprise Value to Revenue (EV/Rev)	16.72	14.38	2.46
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	1.90	1.27	1.28
Long-Term Debt to Equity	1.59	1.27	1.28
Financial Leverage	0.10	0.44	0.43
Leverage Ratio	2.79	2.78	2.49
Compound Leverage Factor	2.92	2.93	1.71
Debt to Total Capital	65.50%	55.99%	56.10%
Short-Term Debt to Total Capital	10.55%	0.00%	0.00%
Long-Term Debt to Total Capital	54.95%	55.99%	56.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	34.50%	44.01%	43.90%
Debt to EBITDA	-3.78	-3.10	-1.58
Net Debt to EBITDA	-1.05	-0.90	-0.63
Long-Term Debt to EBITDA	-3.17	-3.10	-1.58
Debt to NOPAT	-4.97	-3.81	-1.95
Net Debt to NOPAT	-1.38	-1.11	-0.77
Long-Term Debt to NOPAT	-4.17	-3.81	-1.95
Altman Z-Score	-0.38	0.02	-2.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	3.24	7.81	7.48
Quick Ratio	3.00	7.03	6.30
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-434	-337	-135
Operating Cash Flow to CapEx	-1,571.41%	-2,930.83%	-3,329.96%
Free Cash Flow to Firm to Interest Expense	-29.52	-20.60	-10.03
Operating Cash Flow to Interest Expense	-17.92	-15.83	-15.36
Operating Cash Flow Less CapEx to Interest Expense	-19.06	-16.37	-15.83
Efficiency Ratios	-	-	-
Asset Turnover	0.07	0.11	0.20
Accounts Receivable Turnover	5.96	7.24	9.61
Inventory Turnover	2.11	2.76	2.02
Fixed Asset Turnover	3.46	5.14	9.20
Accounts Payable Turnover	6.88	10.91	7.38
Days Sales Outstanding (DSO)	61.20	50.42	38.00
Days Inventory Outstanding (DIO)	172.63	132.24	180.47
Days Payable Outstanding (DPO)	53.02	33.46	49.49
Cash Conversion Cycle (CCC)	180.81	149.20	168.98
Capital & Investment Metrics	-	-	-
Invested Capital	856	959	762
Invested Capital Turnover	0.17	0.22	0.36
Increase / (Decrease) in Invested Capital	219	103	-197
Enterprise Value (EV)	2,146	2,884	758
Market Capitalization	1,850	2,624	501
Book Value per Share	$2.49	$2.62	$1.85
Tangible Book Value per Share	($1.14)	($0.81)	($0.73)
Total Capital	1,632	1,594	1,154
Total Debt	1,069	892	647
Total Long-Term Debt	897	892	647
Net Debt	296	261	257
Capital Expenditures (CapEx)	17	8.84	6.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	15	39
Debt-free Net Working Capital (DFNWC)	761	647	429
Net Working Capital (NWC)	589	647	429
Net Nonoperating Expense (NNE)	99	73	-22
Net Nonoperating Obligations (NNO)	293	258	255
Total Depreciation and Amortization (D&A)	17	14	40
Debt-free, Cash-free Net Working Capital to Revenue	-9.19%	7.63%	12.58%
Debt-free Net Working Capital to Revenue	592.99%	322.67%	139.40%
Net Working Capital to Revenue	458.86%	322.67%	139.40%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($1.40)	($1.21)	($1.13)
Adjusted Weighted Average Basic Shares Outstanding	224.55M	253.63M	274.49M
Adjusted Diluted Earnings per Share	($1.40)	($1.21)	($1.59)
Adjusted Weighted Average Diluted Shares Outstanding	224.55M	253.63M	288.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	247.08M	267.95M	297.85M
Normalized Net Operating Profit after Tax (NOPAT)	-213	-217	-203
Normalized NOPAT Margin	-166.30%	-108.35%	-66.05%
Pre Tax Income Margin	-244.92%	-158.67%	-100.49%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-20.39	-18.43	-33.59
NOPAT to Interest Expense	-14.64	-14.30	-24.76
EBIT Less CapEx to Interest Expense	-21.53	-18.97	-34.05
NOPAT Less CapEx to Interest Expense	-15.78	-14.84	-25.22
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Pacific Biosciences of California's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.38%	-24.06%	17.26%	34.13%	72.36%	113.35%	-0.23%	-24.30%	-28.23%	231.13%
EBITDA Growth	7.94%	-39.75%	-12.84%	6.46%	-11.84%	16.26%	18.78%	-151.07%	39.07%	-99.94%
EBIT Growth	1.75%	-34.78%	-8.46%	5.48%	-0.93%	9.09%	11.59%	-164.26%	22.71%	-88.17%
NOPAT Growth	-0.19%	-34.65%	-17.71%	-7.66%	-10.55%	-0.53%	10.84%	-140.31%	22.32%	-120.34%
Net Income Growth	-565.31%	-21.72%	-8.00%	2.19%	13.12%	2.80%	11.18%	-148.19%	9.19%	102.89%
EPS Growth	-525.00%	-19.35%	2.70%	12.50%	23.53%	16.22%	19.44%	-128.57%	15.38%	-41.94%
Operating Cash Flow Growth	-55.09%	-91.01%	-19.82%	31.08%	-3.37%	4.96%	20.07%	-30.00%	30.25%	46.75%
Free Cash Flow Firm Growth	89.06%	58.31%	57.95%	63.34%	-311.08%	41.13%	53.23%	58.52%	118.01%	137.95%
Invested Capital Growth	5.18%	34.28%	35.12%	31.31%	43.16%	12.06%	9.13%	-1.58%	-11.06%	-20.58%
Revenue Q/Q Growth	-8.90%	-15.34%	42.21%	22.30%	17.06%	4.79%	-33.50%	-7.21%	10.98%	383.49%
EBITDA Q/Q Growth	4.26%	-29.34%	2.18%	22.78%	-14.47%	3.16%	5.12%	-138.71%	72.22%	-217.79%
EBIT Q/Q Growth	-7.85%	-18.79%	3.10%	23.87%	-15.16%	-7.00%	5.76%	-127.57%	66.32%	-160.48%
NOPAT Q/Q Growth	-9.79%	-16.70%	-4.79%	19.81%	-12.73%	-6.13%	7.07%	-116.13%	63.56%	-201.05%
Net Income Q/Q Growth	-7.81%	-9.63%	-4.30%	20.66%	4.24%	-22.65%	4.68%	-121.70%	64.96%	103.90%
EPS Q/Q Growth	-6.25%	-8.82%	2.70%	22.22%	7.14%	-19.23%	6.45%	-120.69%	65.63%	-100.00%
Operating Cash Flow Q/Q Growth	-4.11%	3.94%	-56.34%	55.92%	-56.16%	11.69%	-31.48%	28.30%	16.22%	32.58%
Free Cash Flow Firm Q/Q Growth	88.01%	-224.97%	-6.08%	11.35%	-34.52%	53.46%	15.72%	21.38%	158.39%	-1.93%
Invested Capital Q/Q Growth	1.43%	24.88%	4.56%	-0.86%	10.58%	-2.24%	1.83%	-10.59%	-0.07%	-12.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.93%	18.79%	25.09%	32.68%	32.15%	16.40%	29.07%	16.49%	25.03%	5.21%
EBITDA Margin	-200.64%	-306.56%	-210.86%	-133.14%	-130.20%	-120.32%	-171.66%	-441.59%	-110.54%	-72.65%
Operating Margin	-230.94%	-318.37%	-234.58%	-153.82%	-148.12%	-150.02%	-209.64%	-488.28%	-160.32%	-79.19%
EBIT Margin	-226.88%	-318.37%	-216.93%	-135.05%	-132.85%	-135.66%	-192.23%	-471.43%	-143.09%	-77.09%
Profit (Net Income) Margin	-238.22%	-308.50%	-226.26%	-146.79%	-120.07%	-140.55%	-201.44%	-481.27%	-151.94%	1.23%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	86.20%	99.13%	100.00%	100.00%	100.00%	88.24%
Interest Burden Percent	105.00%	96.90%	104.30%	108.70%	104.85%	104.51%	104.79%	102.09%	106.19%	-1.80%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.76%
Return on Invested Capital (ROIC)	-33.11%	-38.29%	-28.26%	-20.13%	-21.09%	-23.20%	-31.42%	-73.32%	-20.96%	-25.01%
ROIC Less NNEP Spread (ROIC-NNEP)	4.92%	-71.80%	-65.10%	-35.67%	-27.68%	-30.72%	-39.42%	-89.36%	-25.94%	28.51%
Return on Net Nonoperating Assets (RNNOA)	-0.44%	-7.41%	-5.98%	-6.45%	-5.51%	-13.40%	-15.61%	-49.32%	-13.59%	12.12%
Return on Equity (ROE)	-33.55%	-45.70%	-34.24%	-26.58%	-26.60%	-36.59%	-47.03%	-122.64%	-34.55%	-12.89%
Cash Return on Invested Capital (CROIC)	-34.87%	-58.06%	-58.71%	-56.28%	-63.55%	-37.17%	-33.00%	-32.37%	-19.16%	-15.63%
Operating Return on Assets (OROA)	-16.13%	-21.65%	-15.17%	-10.60%	-12.12%	-15.49%	-21.61%	-53.05%	-14.80%	-15.80%
Return on Assets (ROA)	-16.94%	-20.98%	-15.82%	-11.52%	-10.95%	-16.04%	-22.64%	-54.15%	-15.71%	0.25%
Return on Common Equity (ROCE)	-33.55%	-45.70%	-34.24%	-26.58%	-26.60%	-36.59%	-47.03%	-122.64%	-34.55%	-12.89%
Return on Equity Simple (ROE_SIMPLE)	-47.75%	0.00%	-46.35%	-49.72%	-40.47%	0.00%	-45.75%	-81.26%	-87.01%	0.00%
Net Operating Profit after Tax (NOPAT)	-52	-61	-64	-51	-58	-61	-57	-123	-45	-135
NOPAT Margin	-161.66%	-222.86%	-164.21%	-107.67%	-103.69%	-105.02%	-146.75%	-341.80%	-112.23%	-69.88%
Net Nonoperating Expense Percent (NNEP)	-38.04%	33.51%	36.84%	15.54%	6.60%	7.52%	7.99%	16.04%	4.98%	-53.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.74%	-	-	-	-3.85%	-	-	-	-11.70%
Cost of Revenue to Revenue	58.07%	81.21%	74.91%	67.32%	67.85%	83.60%	70.93%	83.51%	74.97%	15.09%
SG&A Expenses to Revenue	113.88%	164.53%	102.36%	85.29%	77.99%	78.82%	112.74%	127.39%	109.46%	21.55%
R&D to Revenue	145.75%	155.83%	125.81%	97.06%	85.32%	76.33%	111.97%	106.86%	63.84%	14.21%
Operating Expenses to Revenue	272.87%	337.16%	259.67%	186.49%	180.27%	166.42%	238.71%	504.77%	185.36%	84.40%
Earnings before Interest and Taxes (EBIT)	-73	-87	-84	-64	-74	-79	-75	-170	-57	-149
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-65	-84	-82	-63	-73	-70	-67	-159	-44	-140
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.08	3.29	4.13	5.18	2.74	3.74	1.55	0.76	1.02	0.99
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	9.53	14.42	21.35	22.74	12.34	13.08	5.01	1.98	2.68	1.63
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.99	2.51	3.43	4.02	2.36	3.01	1.37	0.87	1.01	0.99
Enterprise Value to Revenue (EV/Rev)	9.98	16.72	22.88	24.44	13.64	14.38	6.66	4.00	5.11	2.46
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.43	1.90	1.56	1.68	1.29	1.27	1.38	1.81	1.97	1.28
Long-Term Debt to Equity	1.43	1.59	1.30	1.39	1.17	1.27	1.38	1.81	1.97	1.28
Financial Leverage	-0.09	0.10	0.09	0.18	0.20	0.44	0.40	0.55	0.52	0.43
Leverage Ratio	2.63	2.79	2.69	2.81	2.67	2.78	2.66	2.96	2.75	2.49
Compound Leverage Factor	2.76	2.70	2.80	3.06	2.80	2.90	2.79	3.02	2.92	-0.04
Debt to Total Capital	58.86%	65.50%	60.97%	62.68%	56.41%	55.99%	57.90%	64.44%	66.34%	56.10%
Short-Term Debt to Total Capital	0.00%	10.55%	10.40%	10.83%	5.49%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	58.86%	54.95%	50.57%	51.85%	50.92%	55.99%	57.90%	64.44%	66.34%	56.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.14%	34.50%	39.03%	37.32%	43.59%	44.01%	42.10%	35.56%	33.66%	43.90%
Debt to EBITDA	-3.37	-3.78	-3.71	-3.46	-3.03	-3.10	-3.27	-2.42	-2.63	-1.58
Net Debt to EBITDA	-0.23	-1.05	-0.71	-0.80	-0.68	-0.90	-1.21	-1.04	-1.24	-0.63
Long-Term Debt to EBITDA	-3.37	-3.17	-3.07	-2.87	-2.74	-3.10	-3.27	-2.42	-2.63	-1.58
Debt to NOPAT	-4.50	-4.97	-4.81	-4.72	-4.23	-3.81	-3.93	-2.99	-3.12	-1.95
Net Debt to NOPAT	-0.31	-1.38	-0.92	-1.09	-0.94	-1.11	-1.45	-1.28	-1.47	-0.77
Long-Term Debt to NOPAT	-4.50	-4.17	-3.99	-3.91	-3.82	-3.81	-3.93	-2.99	-3.12	-1.95
Altman Z-Score	0.03	0.02	0.61	0.77	0.21	0.44	-0.61	-1.53	-1.38	-1.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	11.19	3.24	3.69	3.45	4.80	7.81	9.28	8.01	9.74	7.48
Quick Ratio	10.50	3.00	3.40	3.15	4.34	7.03	8.12	6.92	8.34	6.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-86	-280	-297	-263	-354	-165	-139	-109	64	62
Operating Cash Flow to CapEx	-1,505.20%	-1,235.03%	-2,544.77%	-1,840.43%	-7,853.13%	-2,843.87%	-1,951.07%	-3,668.90%	0.00%	-1,895.49%
Free Cash Flow to Firm to Interest Expense	-23.48	-76.63	-81.69	-47.05	-98.55	-46.08	-38.79	-30.78	18.00	22.65
Operating Cash Flow to Interest Expense	-17.21	-16.60	-26.09	-7.47	-18.17	-16.12	-21.17	-15.32	-12.85	-11.12
Operating Cash Flow Less CapEx to Interest Expense	-18.35	-17.95	-27.11	-7.88	-18.40	-16.69	-22.25	-15.74	-12.63	-11.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.07	0.07	0.08	0.09	0.11	0.11	0.11	0.10	0.20
Accounts Receivable Turnover	5.87	5.96	4.67	5.72	6.37	7.24	6.69	6.69	5.78	9.61
Inventory Turnover	2.47	2.11	1.95	1.97	2.17	2.76	2.26	2.12	2.04	2.02
Fixed Asset Turnover	3.90	3.46	3.51	3.73	4.26	5.14	5.13	5.02	4.79	9.20
Accounts Payable Turnover	8.57	6.88	5.11	6.95	8.37	10.91	7.61	8.48	9.68	7.38
Days Sales Outstanding (DSO)	62.23	61.20	78.21	63.81	57.32	50.42	54.55	54.56	63.10	38.00
Days Inventory Outstanding (DIO)	147.73	172.63	186.97	185.33	168.32	132.24	161.48	172.40	179.34	180.47
Days Payable Outstanding (DPO)	42.60	53.02	71.45	52.52	43.62	33.46	47.95	43.04	37.70	49.49
Cash Conversion Cycle (CCC)	167.36	180.81	193.73	196.62	182.02	149.20	168.08	183.93	204.74	168.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	686	856	895	888	981	959	977	873	873	762
Invested Capital Turnover	0.20	0.17	0.17	0.19	0.20	0.22	0.21	0.21	0.19	0.36
Increase / (Decrease) in Invested Capital	34	219	233	212	296	103	82	-14	-109	-197
Enterprise Value (EV)	1,367	2,146	3,067	3,572	2,312	2,884	1,335	756	885	758
Market Capitalization	1,305	1,850	2,861	3,324	2,092	2,624	1,005	373	463	501
Book Value per Share	$2.79	$2.49	$2.80	$2.57	$3.05	$2.62	$2.42	$1.81	$1.66	$1.85
Tangible Book Value per Share	($0.86)	($1.14)	($0.52)	($0.71)	($0.65)	($0.81)	($0.98)	($1.17)	($1.29)	($0.73)
Total Capital	1,523	1,632	1,773	1,720	1,752	1,594	1,542	1,386	1,346	1,154
Total Debt	897	1,069	1,081	1,078	988	892	893	893	893	647
Total Long-Term Debt	897	897	897	892	892	892	893	893	893	647
Net Debt	62	296	206	248	220	261	330	383	421	257
Capital Expenditures (CapEx)	4.19	4.90	3.72	2.27	0.83	2.02	3.88	1.48	-0.79	1.62
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2.39	-12	25	20	26	15	42	40	52	39
Debt-free Net Working Capital (DFNWC)	832	761	900	850	795	647	604	550	524	429
Net Working Capital (NWC)	832	589	715	664	698	647	604	550	524	429
Net Nonoperating Expense (NNE)	25	23	24	19	9.12	21	21	50	16	-137
Net Nonoperating Obligations (NNO)	59	293	203	246	218	258	328	381	420	255
Total Depreciation and Amortization (D&A)	8.48	3.23	2.36	0.91	1.48	8.95	7.98	11	13	8.57
Debt-free, Cash-free Net Working Capital to Revenue	-1.75%	-9.19%	18.35%	13.90%	15.60%	7.63%	20.88%	20.97%	30.26%	12.58%
Debt-free Net Working Capital to Revenue	607.61%	592.99%	671.33%	581.97%	468.70%	322.67%	301.39%	291.07%	302.77%	139.40%
Net Working Capital to Revenue	607.61%	458.86%	533.78%	454.47%	411.96%	322.67%	301.39%	291.07%	302.77%	139.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.34)	($0.37)	($0.36)	($0.28)	($0.26)	($0.31)	($0.29)	($0.64)	($0.22)	$0.02
Adjusted Weighted Average Basic Shares Outstanding	225.12M	224.55M	242.03M	250.07M	255.00M	253.63M	269.58M	272.39M	272.92M	274.49M
Adjusted Diluted Earnings per Share	($0.34)	($0.37)	($0.36)	($0.28)	($0.26)	($0.31)	($0.29)	($0.64)	($0.22)	($0.44)
Adjusted Weighted Average Diluted Shares Outstanding	225.12M	224.55M	242.03M	250.07M	255.00M	253.63M	269.58M	272.39M	272.92M	288.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	226.11M	247.08M	249.89M	250.56M	267.44M	267.95M	272.36M	272.53M	273.86M	297.85M
Normalized Net Operating Profit after Tax (NOPAT)	-49	-58	-55	-50	-52	-61	-57	-58	-44	-137
Normalized NOPAT Margin	-152.39%	-211.09%	-142.15%	-104.77%	-92.74%	-103.70%	-146.88%	-160.64%	-110.18%	-70.77%
Pre Tax Income Margin	-238.22%	-308.50%	-226.26%	-146.79%	-139.30%	-141.78%	-201.44%	-481.27%	-151.94%	1.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-20.01	-23.87	-23.25	-11.50	-20.62	-22.17	-20.87	-47.93	-16.16	-54.03
NOPAT to Interest Expense	-14.26	-16.71	-17.60	-9.17	-16.09	-17.16	-15.93	-34.75	-12.68	-48.98
EBIT Less CapEx to Interest Expense	-21.15	-25.22	-24.27	-11.91	-20.85	-22.74	-21.95	-48.35	-15.94	-54.62
NOPAT Less CapEx to Interest Expense	-15.40	-18.05	-18.62	-9.57	-16.33	-17.73	-17.02	-35.17	-12.46	-49.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Pacific Biosciences of California (PACB) has delivered a mixed but progressively informative picture for 2024. The company showed a dramatic quarterly revenue spike in Q4 2024 alongside a small net income gain, yet cash burn persisted and debt remains elevated. Below are the top trends pulled from the last four quarters of 2024 and surrounding years’ data to help you gauge where the company may be headed.

Q4 2024 revenue surged to 193.238 million, marking a sharp sequential jump from earlier 2024 quarters and suggesting a potential uptick in demand.
Net income attributable to common shareholders in Q4 2024 turned positive at about 1.24 million, hinting at improving profitability on the bottom line.
Q4 2024 net cash from continuing investing activities was +58.24 million, contributing to liquidity despite operating cash burn.
Operating cash burn narrowed in Q4 2024 (net cash from continuing operating activities of -30.65 million) versus prior quarters, indicating improved cash efficiency at the end of the year.

Gross margin in Q4 2024 compressed to about 5% (10.58 million gross profit on 193.24 million revenue) after stronger margins in some earlier quarters, signaling potential headwinds on pricing or costs.
Diluted earnings per share remained negative across most quarters, reflecting ongoing dilution despite a small quarterly net income uptick in Q4 2024.
Revenue shows a one-off-like spike in Q4 2024, which may not be indicative of a sustainable run-rate for the year.

Operating cash flow remained negative across the quarters, including -30.65 million in Q4 2024 and larger negative cash flows in prior quarters, signaling ongoing cash burn.
Long-term debt sits around 892–893 million, indicating a high leverage burden that could constrain financial flexibility during weaker periods.
Multi-quarter net losses persisted in 2024 (for example, -173.5 million in Q2 2024 and -78.7 million in Q1 2024), underscoring profitability volatility even with the late-year upside.

05/21/26 12:00 PM ETAI Generated. May Contain Errors.

Pacific Biosciences of California Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Pacific Biosciences of California's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

The last 5 years of Pacific Biosciences of California's net income performance:

2022: -$314.25 million
2023: -$306.74 million
2024: -$309.85 million

View Pacific Biosciences of California's forecast to see where analysts expect Pacific Biosciences of California to go next.

Pacific Biosciences of California's total operating income in 2024 was -$474.31 million, based on the following breakdown:

Total Gross Profit: $37.28 million
Total Operating Expenses: $511.60 million

Over the last 2 years, Pacific Biosciences of California's total revenue changed from $128.30 million in 2022 to $308.03 million in 2024, a change of 140.1%.

Pacific Biosciences of California's total liabilities were at $753.85 million at the end of 2024, a 27.8% decrease from 2023, and a 37.4% decrease since 2022.

In the past 2 years, Pacific Biosciences of California's cash and equivalents has ranged from $55.37 million in 2024 to $325.09 million in 2022, and is currently $55.37 million as of their latest financial filing in 2024.

Over the last 2 years, Pacific Biosciences of California's book value per share changed from 2.49 in 2022 to 1.85 in 2024, a change of -25.7%.

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Financial statements for NASDAQ:PACB last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Pacific Biosciences of California (PACB) Financials

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Pacific Biosciences of California (PACB) Financials

Annual Income Statements for Pacific Biosciences of California

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Pacific Biosciences of California Financials - Frequently Asked Questions

When does Pacific Biosciences of California's financial year end?

How has Pacific Biosciences of California's net income changed over the last 2 years?

What is Pacific Biosciences of California's operating income?

How has Pacific Biosciences of California's revenue changed over the last 2 years?

How much debt does Pacific Biosciences of California have?

How much cash does Pacific Biosciences of California have?

How has Pacific Biosciences of California's book value per share changed over the last 2 years?

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