Pacific Biosciences Q2 adj. loss bigger than estimates on margin pressure

Pacific Biosciences of California

05/08/2026 21:42

Overview
Sequencing technology firm's Q2 revenue declined yr/yr and missed analyst expectations
Adjusted loss per share for Q2 missed analyst expectations
Company says lower gross margin driven by higher compute costs and lower average selling prices

Outlook
PacBio expects 2026 revenue between $155 mln and $165 mln

Result Drivers
SPRQ-Nx ROLLOUT - Revenue was driven by growing consumables and new Revio and Vega placements as company commenced full rollout of SPRQ-Nx chemistry
GROSS MARGIN PRESSURE - Lower non-GAAP gross margin was primarily due to higher compute and memory costs, Vega manufacturing transition costs, and lower Revio average selling prices for strategic multi-system placements
RESTRUCTURING ACTIONS - Company implemented restructuring actions to streamline marketing and R&D and strengthen commercial organization

Company press release: ID:nGNX9Mf797

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$39 mln
$40.07 mln (7 Analysts)
Q2 Adjusted Loss Per Share
Miss
$0.14
$0.13 (5 Analysts)
Q2 Loss Per Share
 
$0.14
 
Q2 Adjusted Net Loss
Miss
$41.90 mln
$39.25 mln (5 Analysts)
Q2 Adjusted Gross Margin
 
36.00%
 
Q2 Adjusted Gross Profit
 
$13.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "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 $2.63, about 82.3% above its August 4 closing price of $1.44

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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.)