Pacific Biosciences of California Inc. (PACB) Financial Statements (2024 and earlier)

Company Profile

Business Address 1305 O'BRIEN DRIVE
MENLO PARK, CA 94025
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3826 - Laboratory Analytical Instruments (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments631,416772,3181,044,400318,81449,099102,354
Cash and cash equivalents179,911325,089460,72581,61129,62718,844
Short-term investments451,505447,229583,675237,20319,47283,510
Restricted cash and investments3003005001,636  
Receivables36,61518,78624,24116,83715,2668,595
Inventory, net of allowances, customer advances and progress billings56,67650,38124,59914,23013,31217,878
Inventory56,67650,38124,59914,23013,31217,878
Deposits current assets 3,000     
Other undisclosed current assets14,04010,2897,3944,0703,3692,832
Total current assets:742,047852,0741,101,134355,58781,046131,659
Noncurrent Assets
Operating lease, right-of-use asset32,59339,76346,61729,95132,827
Property, plant and equipment36,43241,58032,50424,89930,07034,073
Intangible assets, net (including goodwill)919,245820,219820,953   
Goodwill462,261409,974409,974   
Intangible assets, net (excluding goodwill)456,984410,245410,979   
Restricted cash and investments2,4222,9224,5923,5004,0004,500
Other noncurrent assets13,27410,5281,170434243
Total noncurrent assets:1,003,966915,012905,83658,39366,93938,616
TOTAL ASSETS:1,746,0131,767,0862,006,970413,980147,985170,275
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities60,77044,62447,26320,92921,61019,559
Accounts payable15,06212,02811,0023,5798,3686,736
Accrued liabilities45,70832,59636,26117,35013,24212,823
Deferred revenue16,34230,49810,9778,7227,610
Debt  1,8001,600 19,708 
Business combination, contingent consideration, liability  172,094    
Other liabilities8,3267,2335,7594,519225788
Other undisclosed current liabilities9,5917,0866,1104,332 6,537
Total current liabilities:95,029263,33571,70938,50249,15326,884
Noncurrent Liabilities
Long-term debt and lease obligation892,24350052,27037,66741,96414,659
Long-term debt, excluding current maturities892,2435002,300  14,659
Liabilities, other than long-term debt57,43744,164198,2372,3201,95113,781
Deferred revenue5,5301,79425,0491,5681,951
Deferred rent credit      13,765
Other liabilities7511,3003,471752  
Operating lease, liability31,60641,07049,97037,66741,964
Business combination, contingent consideration, liability19,550 169,717   
Derivative instruments and hedges, liabilities      16
Other undisclosed noncurrent liabilities  896,183893,767  890
Total noncurrent liabilities:949,680940,8471,144,27439,98743,91529,330
Total liabilities:1,044,7091,204,1821,215,98378,48993,06856,214
Equity
Equity, attributable to parent701,304562,904790,987335,49154,917114,061
Common stock268227221192153150
Additional paid in capital2,539,8922,099,7822,009,9451,372,0831,120,9991,096,053
Accumulated other comprehensive income (loss)219(4,765)(1,087)855(36)
Accumulated deficit(1,839,075)(1,532,340)(1,218,092)(1,036,869)(1,066,240)(982,106)
Total equity:701,304562,904790,987335,49154,917114,061
TOTAL LIABILITIES AND EQUITY:1,746,0131,767,0862,006,970413,980147,985170,275

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues200,521128,304130,51378,89390,89178,626
Cost of revenue(147,741)(79,269)(71,653)(46,327)(56,315)(53,530)
Cost of goods and services sold(5,419)(4,438)(306)(46,327)(56,315)(53,530)
Gross profit:52,78049,03558,86032,56634,57625,096
Operating expenses(387,247)(356,231)(269,295)(136,951)(135,121)(126,083)
Operating loss:(334,467)(307,196)(210,435)(104,385)(100,545)(100,987)
Nonoperating income (expense)32,6847,638(51,907)36,05519,022848
Gain (loss) on contract termination   (52,000)34,00018,000 
Other nonoperating income32,6847,638932,0551,022848
Interest and debt expense(16,376)(14,690)(12,530)(267)(2,611)(2,423)
Loss from continuing operations before income taxes:(318,159)(314,248)(274,872)(68,597)(84,134)(102,562)
Income tax benefit11,424 93,649   
Loss from continuing operations:(306,735)(314,248)(181,223)(68,597)(84,134)(102,562)
Loss before gain (loss) on sale of properties:(181,223)(68,597)(84,134)(102,562)
Net loss:(306,735)(314,248)(181,223)(68,597)(84,134)(102,562)
Other undisclosed net income attributable to parent    98,000  
Net income (loss) available to common stockholders, diluted:(306,735)(314,248)(181,223)29,403(84,134)(102,562)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(306,735)(314,248)(181,223)(68,597)(84,134)(102,562)
Comprehensive loss:(306,735)(314,248)(181,223)(68,597)(84,134)(102,562)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent4,984(3,678)(1,172)98,08041(4)
Comprehensive income (loss), net of tax, attributable to parent:(301,751)(317,926)(182,395)29,483(84,093)(102,566)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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