PacBio quarterly net loss narrows 7% but misses on the bottom line

May 04, 2022 6:39 PM ETPacific Biosciences of California, Inc. (PACB)By: Jonathan Block, SA News Editor

Quarterly results

CharlieAJA/iStock via Getty Images

  • Although PacBio's (NASDAQ:PACB) Q1 2022 net loss narrowed 7% to $81.5M (-$0.37 basic and diluted per share), the biotech still missed consensus estimates on the bottom line.
  • Revenue of ~$33.2M in the quarter was ~14.4% year-over-year increase.
  • PacBio (PACB) was negatively impacted in the quarter by a ~96% increase in operating expenses to $91.7M.
  • The company ended the quarter with $962.8M in cash.
  • Seeking Alpha contributor Stephen Simpson says that PacBio (PACB) is a buy.

Recommended For You

Comments

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.