Pacific Biosciences of California, Inc. (PACB) Income Statement
PACB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPACB revenue and net income
Where PACB's revenue goes
2025Each bar shows an amount and its share of revenue. PACB kept −341.5% of revenue as net income.
PACB profit margins
PACB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.9% | +7.6% | +15.2% | +5.6% |
| Gross profit | +35.9% | +1.1% | +9.2% | −0.5% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PACB quarterly EPS vs estimates
PacBio beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.13).
PACB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $160.0M | $154.0M | $200.5M | $128.3M | $130.5M | $78.9M | $90.9M | $78.6M | $93.5M | $90.7M |
| Cost of revenue | $109.3M | $116.7M | $147.7M | $79.3M | $71.7M | $46.3M | $56.3M | $53.5M | $58.8M | $46.6M |
| Gross profit | $50.7M | $37.3M | $52.8M | $49.0M | $58.9M | $32.6M | $34.6M | $25.1M | $34.7M | $44.2M |
| Research & development | $97.3M | $134.9M | $187.2M | $193.0M | $112.9M | $64.2M | $59.6M | $62.6M | $65.3M | $67.6M |
| Sales, general & admin | $141.5M | $175.0M | $168.8M | $160.9M | $124.1M | $72.8M | $75.5M | $63.5M | $59.1M | $47.8M |
| Total operating expenses | $608.2M | $511.6M | $387.2M | $356.2M | $269.3M | $137.0M | $135.1M | $126.1M | $124.4M | $115.4M |
| Operating income | −$557.6M | −$474.3M | −$334.5M | −$307.2M | −$210.4M | −$104.4M | −$100.5M | −$101.0M | −$89.8M | −$71.2M |
| Interest income | — | — | — | — | — | — | $2.6M | $2.4M | $2.9M | $3.2M |
| Interest expense | $7.0M | $13.4M | $14.3M | $14.7M | $12.5M | $267,000 | $2.6M | $2.4M | $2.9M | $3.2M |
| Income before taxes | −$546.1M | −$309.5M | −$318.2M | −$314.2M | −$274.9M | $29.4M | −$84.1M | −$102.6M | −$92.2M | −$74.4M |
| Income taxes | $318,000 | $316,000 | −$11.4M | −$17.3M | −$93.6M | −$7.0M | −$6.3M | $848,000 | −$5.0M | $3.3M |
| Net income | −$546.4M | −$309.9M | −$306.7M | −$314.2M | −$181.2M | $29.4M | −$84.1M | −$102.6M | −$92.2M | −$74.4M |
| EBITDA | −$152.7M | −$242.8M | −$271.1M | −$282.2M | −$250.8M | $39.0M | −$71.6M | −$92.9M | −$80.8M | −$67.3M |
| EPS (diluted) | −$0.52 | −$0.83 | −$1.11 | −$1.40 | −$1.19 | −$0.62 | −$0.58 | −$0.77 | −$0.89 | −$0.84 |
| Gross margin | 31.7% | 24.2% | 26.3% | 38.2% | 45.1% | 41.3% | 38.0% | 31.9% | 37.1% | 48.7% |
| Operating margin | −348.5% | −308.0% | −166.8% | −239.4% | −161.2% | −132.3% | −110.6% | −128.4% | −96.1% | −78.5% |
| Net margin | −341.5% | −201.2% | −153.0% | −244.9% | −138.9% | 37.3% | −92.6% | −130.4% | −98.6% | −82.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $39.0M | $37.2M | $44.6M | $38.4M | $39.8M | $37.2M | $39.2M | $40.0M | $36.0M | $38.8M | $58.4M | $55.7M |
| Cost of revenue | $26.4M | $24.3M | $27.9M | $23.4M | $25.1M | $38.5M | $29.2M | $30.0M | $30.1M | $27.5M | $48.8M | $37.8M |
| Gross profit | $12.6M | $12.8M | $16.7M | $15.1M | $14.7M | −$1.4M | $10.1M | $10.0M | $5.9M | $11.3M | $9.6M | $17.9M |
| Research & development | $23.0M | $19.6M | $22.9M | $22.8M | $22.5M | $29.1M | $27.5M | $25.5M | $38.5M | $43.5M | $44.5M | $47.5M |
| Sales, general & admin | $33.4M | $31.2M | $34.1M | $31.1M | $36.2M | $40.2M | $41.6M | $43.7M | $45.9M | $43.8M | $46.0M | $43.4M |
| Total operating expenses | $57.2M | $50.8M | $57.9M | $53.9M | $59.5M | $427.6M | $163.1M | $74.1M | $181.8M | $92.6M | $97.1M | $100.4M |
| Operating income | −$44.6M | −$37.9M | −$41.2M | −$38.8M | −$44.9M | −$428.9M | −$153.0M | −$64.1M | −$175.8M | −$81.4M | −$87.5M | −$82.5M |
| Interest expense | $2.1M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $2.8M | $3.5M | $3.5M | $3.6M | $3.6M | $3.6M |
| Income before taxes | −$44.7M | −$8.1M | −$40.2M | −$37.6M | −$41.9M | −$426.4M | $2.7M | −$60.7M | −$173.3M | −$78.2M | −$82.7M | −$77.6M |
| Income taxes | $58,000 | $184,000 | $202,000 | $383,000 | $35,000 | −$302,000 | $316,000 | −$60.7M | — | $12.0M | −$718,000 | −$10.7M |
| Net income | −$44.7M | −$8.3M | −$40.4M | −$38.0M | −$41.9M | −$426.1M | $2.4M | −$60.7M | −$173.3M | −$78.2M | −$82.0M | −$66.9M |
| EBITDA | −$38.1M | −$5.8M | −$33.8M | −$31.5M | −$35.6M | −$51.9M | $16.4M | −$41.1M | −$155.5M | −$62.6M | −$67.5M | −$68.5M |
| EPS (diluted) | −$0.14 | −$0.12 | −$0.12 | −$0.12 | −$0.13 | −$0.15 | −$0.20 | −$0.17 | −$0.20 | −$0.26 | −$0.27 | −$0.27 |
| Gross margin | 32.4% | 34.5% | 37.5% | 39.2% | 36.9% | −3.7% | 25.6% | 25.0% | 16.5% | 29.1% | 16.4% | 32.1% |
| Operating margin | −114.4% | −102.0% | −92.3% | −101.0% | −112.8% | −1,154.5% | −390.1% | −160.3% | −488.3% | −209.6% | −150.0% | −148.1% |
| Net margin | −114.7% | −22.3% | −90.4% | −98.9% | −105.4% | −1,146.8% | 6.0% | −151.9% | −481.3% | −201.4% | −140.5% | −120.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PACB's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PACB financial results
In fiscal year 2025 (ended December 31, 2025), PacBio reported revenue of $160.0 million, up 3.9% from the year before. It had a net loss of $546.4 million, a net profit margin of −341.5%. Diluted earnings per share came to −$0.52. Over five years revenue grew at an average rate of 15.2% a year.
See the PACB stock overview for the latest quote and news, or the PACB chart for price history and technical indicators.
PACB income statement FAQ
What is PacBio's annual revenue?
PacBio reported total revenue of $160.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 3.9% from $154.0 million the previous year.
Is PacBio profitable?
No. PacBio reported a net loss of $546.4 million in fiscal 2025, a net profit margin of −341.5%; its operating margin was −348.5%.
What is PacBio's gross margin?
PacBio's gross margin was 31.7% in fiscal 2025: for every $100 of revenue, PacBio kept $32 after the direct cost of its products and services.
How much does PacBio spend on research and development?
PacBio spent $97.3 million on research and development in fiscal 2025, 60.8% of revenue.
How fast is PacBio growing?
Revenue grew 15.2% a year on average over the last five fiscal years, from $78.9 million to $160.0 million.
What are PacBio's earnings per share?
PacBio earned $-0.52 per diluted share in fiscal 2025, compared with $-0.83 a year earlier.
When will PacBio report its next earnings?
PacBio is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does PacBio's fiscal year end?
PacBio's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.