PACB (PACB) financial statements
PACB reported revenue of $160M in fiscal 2025, up 6.5% a year over 9 years.
Net income was -$546M and the operating margin -346.2%, against -78.5% in 2016.
Free cash flow was -$114M.
The diluted share count rose 236% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PACB's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $91M | $93M | $79M | $91M | $79M | $131M | $128M | $201M | $154M | $160M |
| Cost of revenue | $47M | $59M | $54M | $56M | $46M | $72M | $79M | $148M | $117M | $114M |
| Gross profit | $44M | $35M | $25M | $35M | $33M | $59M | $49M | $53M | $37M | $46M |
| Research and development | $68M | $65M | $63M | $60M | $64M | $113M | $193M | $187M | $135M | $97M |
| Selling, general and admin | $48M | $59M | $63M | $75M | $73M | $124M | $161M | $170M | $175M | $141M |
| Operating income | -$71M | -$90M | -$101M | -$101M | -$104M | -$210M | -$307M | -$334M | -$474M | -$554M |
| Interest expense | $3M | $3M | $2M | $3M | $267,000 | $13M | $15M | $14M | $13M | $7M |
| Pre-tax income | -$74M | -$93M | -$103M | -$84M | $29M | -$275M | -$314M | -$318M | -$310M | -$546M |
| Income tax | — | — | — | — | — | -$94M | $0 | -$11M | $316,000 | $318,000 |
| Net income | -$74M | -$92M | -$103M | -$84M | $29M | -$181M | -$314M | -$307M | -$310M | -$546M |
| EPS (diluted) | -$0.83 | -$0.87 | -$0.76 | -$0.55 | $0.17 | -$0.89 | -$1.40 | -$1.21 | -$1.59 | -$1.82 |
| Diluted shares | 89M | 106M | 135M | 153M | 175M | 204M | 225M | 254M | 288M | 300M |
| Gross margin | 48.7% | 37.1% | 31.9% | 38.0% | 41.3% | 45.1% | 38.2% | 26.3% | 24.2% | 28.6% |
| Operating margin | -78.5% | -96.1% | -128.4% | -110.6% | -132.3% | -161.2% | -239.4% | -166.8% | -308.0% | -346.2% |
| Net margin | -82.0% | -98.6% | -130.4% | -92.6% | 37.3% | -138.9% | -244.9% | -153.0% | -201.2% | -341.5% |
Balance sheet
Fiscal years, from PACB's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $72M | $63M | $102M | $49M | $319M | $1.0B | $772M | $631M | $390M | $280M |
| Receivables | $11M | $13M | $9M | $15M | $17M | $24M | $19M | $37M | $28M | $35M |
| Inventory | $16M | $23M | $18M | $13M | $14M | $25M | $50M | $57M | $59M | $49M |
| Total current assets | $109M | $102M | $132M | $81M | $356M | $1.1B | $852M | $742M | $496M | $375M |
| Property, plant and equipment | $15M | $38M | $34M | $30M | $25M | $33M | $42M | $36M | $31M | $24M |
| Goodwill | — | — | — | — | — | $410M | $410M | $462M | $318M | $318M |
| Total assets | $138M | $144M | $170M | $148M | $414M | $2.0B | $1.8B | $1.7B | $1.3B | $784M |
| Total current liabilities | $34M | $29M | $27M | $49M | $39M | $72M | $263M | $95M | $66M | $73M |
| Total liabilities | $53M | $58M | $56M | $93M | $78M | $1.2B | $1.2B | $1.0B | $754M | $779M |
| Shareholders' equity | $85M | $86M | $114M | $55M | $335M | $791M | $563M | $701M | $507M | $5M |
| Net debt | -$17M | -$17M | -$19M | -$30M | -$82M | -$461M | -$325M | -$180M | -$55M | -$64M |
Cash flow
Fiscal years, from PACB's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$68M | -$68M | -$66M | -$78M | $20M | -$111M | -$263M | -$259M | -$206M | -$111M |
| Capital spending | $8M | $10M | $2M | $3M | $1M | $6M | $17M | $9M | $6M | $3M |
| Free cash flow | -$76M | -$78M | -$68M | -$81M | $18M | -$117M | -$280M | -$268M | -$212M | -$114M |
| Stock-based compensation | $20M | $20M | $23M | $16M | $18M | $73M | $79M | $72M | $71M | $42M |
| Free cash flow margin | -83.9% | -83.4% | -86.8% | -89.3% | 23.4% | -89.7% | -218.2% | -133.7% | -137.8% | -71.2% |
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Open PACB in InvestinglyQuestions
What was PACB's revenue in 2025?
$160M in fiscal 2025, from its 10-K filing.
How much free cash flow does PACB generate?
-$114M in fiscal 2025 (operating cash flow minus capital spending).
From PACB's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.