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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

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  • 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.

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