Business
Pacific Biosciences of California, Inc. Announces Second Quarter 2021 Financial Results
MENLO PARK, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ: PACB) today announced financial results for the quarter
About this update from Pacific Biosciences Of California, Inc.
[{"type":"text","content":"MENLO PARK, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ: PACB) today announced financial results for the quarter ended June 30, 2021. Record second quarter revenue reflects continued quarter-over-quarter growth Revenue for the second quarter of 2021 was $30.6 million, representing an 79% increase compared with $17.1 million for the second quarter of 2020. The Company placed 38 Sequel II/IIe systems during the second quarter of 2021 compared to 23 Sequel II systems placed in the second quarter of 2020 and 41 Sequel II/IIe systems placed during the first quarter of 2021, bringing the total installed base of Sequel II/IIe systems to 282 as of June 30, 2021, compared with 148 as of June 30, 2020 and 244 as of March 31, 2021. Instrument revenue for the second quarter of 2021 was $14.3 million, compared with $8.9 million for the second quarter of 2020. Consumables revenue for the second quarter of 2021 was $12.2 million compared with $4.8 million for the second quarter of 2020. Service and other revenue for the second quarter of 2021 was $4.1 million compared with $3.3 million for the second quarter of 2020. Gross profit for the second quarter of 2021 was $13.8 million, representing a 108% increase compared with $6.6 million for the second quarter of 2020. Gross margin for the second quarter of 2021 was 45%, compared to 39% for the second quarter of 2020. Operating expenses totaled $51.3 million for the second quarter of 2021, compared to $30.1 million for the second quarter of 2020. Operating expenses for the second quarter of 2021 and the second quarter of 2020 included non-cash stock-based compensation of $13.9 million and $2.8 million, respectively. Net loss for the second quarter of 2021 was $41.0 million, compared to a net loss of $23.1 million for the second quarter of 2020. Basic and diluted net loss for the second quarter of 2021 was $0.21 per share compared to basic and diluted net loss of $0.15 per share for the second quarter of 2020. Cash, cash equivalents and investments, excluding short and long-term restricted cash, at June 30, 2021 totaled $1,144.4 million, compared to $318.8 million at December 31, 2020. Updates since our last earnings release Signed definitive agreement to acquire Omniome, Inc. (Omniome), a San Diego-based company developing a highly differentiated, prop...