Company Participation in Investor Conferences - PacBio will participate in several upcoming investor conferences, including the UBS Global Healthcare Conference on November 13, 2024, the Wolfe Research Healthcare Conference on November 19, 2024, the Stephens Annual Investment Conference on November 20, 2024, and the Piper Sandler 36th Annual Healthcare Conference on December 3, 2024 [1] Company Overview - PacBio is a leading life science technology company that specializes in advanced sequencing solutions aimed at resolving genetically complex problems [2] - The company’s core technologies include HiFi long-read sequencing and SBB® short-read sequencing, focusing on accuracy, quality, and completeness [2] - PacBio's products cater to a wide range of research applications, including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications [2]

Core Insights - PacBio reported an adjusted loss per share of 17 cents for Q3 2024, an improvement from a loss of 27 cents in the same quarter last year, beating the Zacks Consensus Estimate by 15% [1] - Total revenues for the quarter were $40 million, down 28.2% year over year, and missed the Zacks Consensus Estimate by 4.6% [2] Revenue Breakdown - Revenues from the Americas were $20.1 million, a decline of 31% year over year, primarily due to decreased Revio shipments [3] - Asia-Pacific revenues totaled $10.8 million, reflecting a 32% year-over-year decline [3] - EMEA region revenues were $9.1 million, down 17% year over year [3] - Product revenues increased to $35.3 million, up 11.2% from the previous year [4] - Instrument revenues fell to $16.8 million, a decrease of 51.6% year over year due to lower Revio unit shipments [4] - Consumable revenues reached $18.5 million, up 9.5% from the prior year [4] - Service and other revenues amounted to $4.7 million, also up 9.5% year over year [5] Margin and Expenses - Adjusted gross profit decreased by 28.1% to $13 million, but adjusted gross margin expanded by 100 basis points year over year to 33% [6] - Sales, general and administrative expenses rose by 0.7% to $43.7 million [6] - Research and development expenses declined by 46.3% year over year to $25.5 million [6] - Adjusted total operating expenses were $62.4 million, down 31% year over year [6] Financial Position - PacBio ended Q3 2024 with cash, cash equivalents, and investments of $471.1 million, down from $509.8 million at the end of Q2 2024 [8] - The company revised its revenue outlook for 2024, expecting fourth-quarter revenues to be flat to slightly up compared to Q3 2024 [8] - Full-year revenues are anticipated to be lower than the previous estimate of $170 million, with the Zacks Consensus Estimate at $168.1 million [9] Market Performance - Despite mixed results, with earnings beating estimates but revenues missing, shares fell by 14.7% in after-market trading [10] - Year-to-date, PacBio's stock has declined by 75.1%, contrasting with the industry's 6.3% growth and the S&P 500's 24.7% increase [14]

Pacific Biosciences of California (PACB) reported $39.97 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 28.2%. EPS of -$0.17 for the same period compares to -$0.27 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $41.9 million, representing a surprise of -4.60%. The company delivered an EPS surprise of +15.00%, with the consensus EPS estimate being -$0.20.While investors scrutinize revenue and earnings changes year-over-year and h ...

Pacific Biosciences of California (PACB) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15%. A quarter ago, it was expected that this maker of genetic analysis technology would post a loss of $0.24 per share when it actually produced a loss of $0.20, delivering a surprise of 16.67%.Over the ...

Core Viewpoint - PacBio has launched the Vega™ system, a benchtop long-read sequencing platform that combines affordability and precision, aimed at expanding access to advanced sequencing technology for researchers [1][2]. Product Features - The Vega system is priced at $169,000 and offers high data accuracy with HiFi technology, fast turnaround times, and compatibility with existing HiFi ecosystems for library preparation and data analysis [1][2]. - It can process 600 full-length RNA samples per year, 9,600 samples using the PureTarget repeat expansion panel, or 200 human genomes per run [2]. - The system features an integrated workflow with only two consumables and is supported by SMRT Link Cloud software for easier management [4]. Market Impact - The Vega system is expected to enhance the capabilities of researchers in various applications, including targeted sequencing, RNA sequencing, and small genome sequencing [2][5]. - Initial testing has shown that the Vega instrument is fast and simple, making it suitable for clinical applications, particularly in China [3]. - The launch is seen as a significant step in making HiFi long-read sequencing technology more accessible to a broader range of researchers [4][6]. Company Strategy - PacBio's strategy includes building a portfolio of innovative products that meet diverse research demands, following the launch of the Revio system in early 2023 [2]. - The company aims to empower researchers to explore new scientific frontiers by raising the bar for data quality and accessibility [2].

Core Insights - PacBio has announced the inclusion of its Onso short-read sequencing platform in the 10x Genomics Compatible Partner Program, enhancing the range of sequencing solutions available to researchers globally [1][2][3] Company Overview - PacBio is a leading developer of high-quality genomic sequencing solutions, focusing on accuracy and performance in genomic research [1][4] - The company offers advanced sequencing technologies, including HiFi long-read sequencing and SBB® short-read sequencing, addressing various research applications such as human germline sequencing, oncology, and infectious diseases [4] Partnership Details - The Onso platform is designed for exceptional accuracy in short-read sequencing and is compatible with 10x Genomics' tools for single-cell and spatial biology applications [2][3] - This partnership aims to provide researchers with integrated workflows that enhance insights into genomics and transcriptomics, addressing key challenges in scientific research [2][3] Benefits of Collaboration - Streamlined workflows will allow researchers to access seamless end-to-end solutions by combining PacBio's Onso platform with 10x Genomics' technologies, improving data quality and efficiency [3] - The Onso platform is compatible with 10x Genomics' Single Cell 3' v3.1 assay, enhancing its application in genomic research [3] - PacBio's Onso platform delivers unmatched sequencing accuracy, further enhancing the precision of 10x Genomics' research tools [3][4] Industry Context - 10x Genomics is recognized for its products that accelerate the mastery of biology and advance human health, providing integrated solutions for single-cell and spatial biology [6] - The collaboration between PacBio and 10x Genomics is expected to push the boundaries of genomic science, enabling researchers to explore complex biological systems [3][4]

Company Performance - Pacific Biosciences of California (PACB) closed at $2.06, reflecting a -1.9% change from the previous session, underperforming the S&P 500 which gained 0.47% [1] - Over the past month, PACB shares increased by 12.3%, outperforming the Medical sector which declined by 4.27% and the S&P 500 which rose by 3.48% [2] Upcoming Earnings - The upcoming earnings report for Pacific Biosciences is scheduled for November 7, 2024, with analysts expecting earnings of -$0.20 per share, indicating a year-over-year growth of 25.93% [3] - Revenue is projected to be $41.9 million, down 24.77% from the same quarter last year [3] Full Year Estimates - For the full year, analysts expect earnings of -$0.95 per share and revenue of $168.07 million, representing changes of +14.41% and -16.18% respectively from the previous year [4] Analyst Estimates and Rankings - Recent modifications to analyst estimates for Pacific Biosciences indicate changing business trends, with positive revisions reflecting optimism about the company's profitability [5] - The Zacks Rank system, which evaluates estimate changes, currently ranks Pacific Biosciences at 3 (Hold), with no changes in the consensus EPS estimate over the last 30 days [7] Industry Context - The Medical - Instruments industry, which includes Pacific Biosciences, has a Zacks Industry Rank of 94, placing it in the top 38% of over 250 industries [8]

Core Insights - Pacific Biosciences of California, Inc. (PacBio) is experiencing challenges due to stiff competition and macroeconomic concerns, despite a focus on research and development and positive second-quarter 2024 earnings [1][10]. Company Performance - Year-to-date, PacBio's shares have decreased by 79.1%, contrasting with a 6.6% growth in the industry and a 21.9% gain in the S&P 500 [2]. - The company has a market capitalization of $558.7 million and projects a growth rate of 14.4% for 2024, with earnings surpassing the Zacks Consensus Estimate in three of the last four quarters, averaging a surprise of 9.89% [3]. Research and Development Focus - PacBio is committed to enhancing its R&D efforts, aiming to develop new and existing platforms, increase throughput, and reduce costs for customers [4]. - The company is scaling up the manufacturing of its Onso platform to improve commercial execution and meet demand more rapidly [5]. - A new high-throughput short-read platform is in development, expected to serve high-throughput labs and capture a market estimated at over $1 billion annually [6]. - The next-generation SMRT cell is also under development, which will support a new long-read platform with higher throughput than the Revio system [7]. Product Development Activities - PacBio is expanding its presence in the RNA-sequencing market, recently launching the PureTarget repeat expansion panel for examining genes linked to severe neurological conditions [8]. - Collaborations with various organizations, including the National Cancer Centre of Singapore and the University Hospital of Munster, are aimed at enhancing research capabilities and product reach [9]. Financial Results - The second quarter of 2024 showed mixed results, with earnings exceeding estimates but revenues falling short [10]. - There was an increase in service and consumables revenues, but geographical revenue declines in the Americas, Asia-Pacific, and EMEA regions are concerning [11]. Market Conditions - Macroeconomic factors such as rising inflation and global supply-chain constraints are impacting customer sales cycles and may affect revenues throughout 2024 [12]. - The company experiences business seasonality, leading to fluctuations in sales of sequencing instruments [12]. Future Estimates - The Zacks Consensus Estimate for PacBio's adjusted loss per share for the third quarter of 2024 remains unchanged at 20 cents, with revenue estimates at $41.9 million, reflecting a 24.8% decrease from the previous year [13].

Pacific Biosciences, Inc. (PACB) , popularly known as PacBio, has signed a new Research Collaboration Agreement with the National Cancer Centre of Singapore (NCCS) to enhance Asian cancer research. Leveraging PacBio's Onso short-read sequencing platform, the collaboration aims to enable researchers to profile the genomic landscape of prevalent cancers, including gastrointestinal stromal tumors. PacBio's partner, Diethelm Keller Siber Hegner (DKSH), a Swiss company specializing in market expansion services, ...

Core Viewpoint - PacBio will hold its quarterly conference call to discuss its third quarter 2024 financial results on November 7, 2024, at 4:30 pm Eastern Time [1] Company Overview - Pacific Biosciences of California, Inc. (NASDAQ: PACB) is a leading life science technology company that designs, develops, and manufactures advanced sequencing solutions [2] - The company focuses on two core technologies: HiFi long-read sequencing and SBB® short-read sequencing, emphasizing accuracy, quality, and completeness [2] - PacBio's products are utilized in various research applications, including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications [2]