DNA sequencing systems co PacBio Q1 adjusted loss narrows

Pacific Biosciences of California

07/05/2026 22:16

Overview

US sequencing technology firm's Q1 revenue was flat yr/yr at $37.2 mln

Adjusted EPS and adjusted net loss for Q1 beat analyst expectations

Company saw record consumable revenue but lower-than-expected instrument sales, especially Vega

Outlook

PacBio expects full-year 2026 revenue between $165 mln and $175 mln

Company plans broad commercial rollout of SPRQ-Nx chemistry to all Revio customers later this month

PacBio sees increasing clinical adoption of HiFi technology supporting future consumable growth

Result Drivers

CONSUMABLE REVENUE GROWTH - Record consumable revenue driven by increased clinical adoption of HiFi and higher utilization, especially in EMEA

WEAK INSTRUMENT SALES - Instrument revenue, particularly Vega, was lower than expected

GROSS MARGIN PRESSURE - Non-GAAP gross margin declined due to increased computing component costs, temporary Vega promotions, and inventory and warranty-related charges

Company press release: ID:nGNXc9bSn5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
-$0.12
-$0.13 (6 Analysts)
Q1 EPS
-$0.03
Q1 Adjusted Net Income
Beat
-$35.90 mln
-$44.68 mln (5 Analysts)
Q1 Adjusted Gross Margin
37.00%
Q1 Adjusted Gross Profit
$13.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

Wall Street's median 12-month price target for Pacific Biosciences of California Inc is $3.00, about 75.4% above its May 6 closing price of $1.71

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)