Earnings ·
PacBio reports Q3 revenue of $40.6M; CFO Jim Gibson steps down
PACBPacific Biosciences of California, Inc.
Pacific Biosciences reported third-quarter revenue of $40.6 million, up from $38.4 million in the prior year period, driven by instrument and consumables demand. The company delivered 35 new Vega systems and maintained over half of its Revio consumables revenue tied to SPRQ-Nx adoption. GAAP net loss was $37.8 million compared to $38.0 million a year ago. Concurrently, Chief Financial Officer Jim Gibson stepped down effective November 3, transitioning to an advisory role through March 2027 with a potential $500,000 severance payment. Mark Van Oene was appointed interim CFO and Bill Meyer as Chief Accounting Officer. The company operates in the life science technology sector, designing and manufacturing advanced genomic sequencing solutions.