I'm LongbridgeAI, I can summarize articles.PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported its 1Q 2026 results, showing revenue of $37.18M, nearly unchanged from the previous year. The company narrowed its loss, with diluted EPS at ($0.03) compared to ($1.44) a year ago. Gross profit improved to $12.8M, aided by reduced costs and a favorable product mix. The company also completed an asset sale to Illumina for $48.1M and is advancing its product pipeline with new launches planned for 2027.
PACIFIC BIOSCIENCES OF CALIFORNIA, INC. reported first-quarter 2026 results with revenue essentially flat year over year at $37.18M and a narrowed loss; diluted EPS was ($0.03) compared with ($1.44) in the year-ago quarter.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $37.18M | $37.15M | 0.1% |
| Net income² | ($8.28M) | ($426.08M) | 98.1% |
| Diluted EPS³ | ($0.03) | ($1.44) | 97.9% |
¹ Reported as “Total revenue”. ² Reported as “Net loss”. ³ Reported as “loss per share”.
Business Highlights
- Total revenue was essentially unchanged at $37.2M as growth in consumables and Revio placements offset lower Vega instrument sales.
- Gross profit turned positive to $12.8M from a $1.4M loss a year earlier, helped by lower cost of revenue and a favorable consumables mix.
- R&D and SG&A expense reductions of about 33% and 22% year over year improved operating losses following workforce and program trims.
- Completed an asset sale to Illumina, netting approximately $48.1M in proceeds, and entered a PGI settlement and licensing arrangement with staged payments.
- Product pipeline and commercialization plans include the SPRQ‑Nx launch, Basecamp Research rollouts to drive consumable adoption, and a high-throughput HiFi sequencer targeted for 2027.
Original SEC Filing: PACIFIC BIOSCIENCES OF CALIFORNIA, INC. [ PACB ] - 10-Q - May. 08, 2026