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Dec 31, 2022
Pacific Biosciences Q4 2022 Earnings Report
Pacific Biosciences announced results for Q4 2022, with increased revenue and progress in install base and sequencing efficiency.
Key Takeaways
Pacific Biosciences reported a revenue increase in Q4 2022, driven by higher instrument revenue and consumable sales. The company saw progress in expanding its install base and improving sequencing economics. However, net losses persisted, and operating expenses remained significant.
Q4 revenue totaled $36 million, up from $27.3 million in Q4 2021.
Instrument revenue was $17.4 million, an increase from $11.4 million in the prior year.
Consumables revenue reached $15.4 million, compared to $13.1 million in the prior year.
PacBio ended the year with a preliminary installed base of 526 Sequel II/IIe systems.
Revenue by Segment
Forward Guidance
PacBio anticipates continued growth and innovation, expecting revenue between $170 million and $200 million in 2023.
Positive Outlook
- Continued growth in instrument revenue.
- Expansion of the installed base.
- Advancements in sequencing technology.
- Increased adoption in key application areas.
- Strategic partnerships to drive market penetration.
Challenges Ahead
- Ongoing operating losses.
- Uncertainties in the macroeconomic environment.
- Potential delays in product development.
- Competition from other sequencing platforms.
- Dependence on key suppliers and partners.
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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