Pacific Biosciences of California(PACB) - 2025 Q1 - Earnings Call Presentation

Financial Performance - PacBio Q1 2025 revenue was $37.2 million[9,43], a decrease of 8% year-over-year compared to $38.8 million in Q1 2024[47] - Q1 2025 consumable revenue reached a company record of $20.1 million, representing a 26% year-over-year growth[14] - The company's Q1 2025 non-GAAP gross margin was approximately 40%, an increase from approximately 33% in Q1 2024[50] - Non-GAAP operating expenses for Q1 2025 were $61.7 million, a 29% decrease compared to Q1 2024[50] - PacBio anticipates revenue between $150 million and $170 million for 2025, representing approximately 4% growth at the midpoint[20,55] Product and System Updates - Q1 instrument revenue was $11.0 million, lower year-over-year due to increased uncertainty in academic funding[9] - PacBio shipped 12 Revio systems and 28 Vega systems in Q1 2025[9] - Approximately 50% of Revio and Vega systems were shipped to new customers[9,28] - The annualized Revio pull-through for Q1 2025 was $236,000[14,43] - Nearly 90% of Revio reagent kit shipments in Q1 2025 utilized SPRQ chemistry[23] Strategic Initiatives - PacBio implemented a restructuring plan in April, expecting to lower annualized non-GAAP operating expenses by $45 million to $50 million by year-end[21]