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Mar 31, 2021
Pacific Biosciences Q1 2021 Earnings Report
Pacific Biosciences announced results for the first quarter of 2021, with increased revenue and progress in key strategic areas.
Key Takeaways
Pacific Biosciences reported a strong start to 2021 with significant revenue growth driven by instrument sales and increased consumables revenue. The company continues to advance its Sequel IIe system and expand its customer base.
Revenue increased to $28.7 million, up from $10.3 million in Q1 2020.
Instrument revenue was $16.2 million, compared to $2.9 million in the prior year.
Consumables revenue totaled $9.9 million, an increase from $5.9 million year-over-year.
PacBio ended the quarter with over $1 billion in cash and investments.
Revenue by Segment
Forward Guidance
PacBio anticipates continued growth and innovation, expecting revenue between $115 million and $125 million.
Positive Outlook
- Expecting revenue between $115 million and $125 million for full year 2021.
- Continued expansion of the Sequel II/IIe installed base.
- Growing adoption of PacBio technology in key research areas.
- Advancements in SMRT sequencing.
- Increased consumables pull-through.
Challenges Ahead
- Uncertainties related to the COVID-19 pandemic.
- Potential delays in instrument shipments and installations.
- Fluctuations in currency exchange rates.
- Increased operating expenses related to growth initiatives.
- Competition in the sequencing market.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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