What is Pacific Biosciences of California, Inc.'s earnings per share (EPS)?

Pacific Biosciences of California, Inc. (PACB) reported diluted earnings per share of -$1.82 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Pacific Biosciences of California, Inc. (PACB) Financials

PACB

Trailing 12 months to June 30, 2026

Revenue $159.3M +2.0% YoY

Net Income -$131.4M +75.0% YoY

EPS (Diluted) -$0.43 +80.8% YoY

Free Cash Flow -$123.6M +19.7% YoY

Market Cap $537.7M as of Oct 17, 2026

Price / Sales 3.4x on $159.3M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PACB SEC filings page.

Pacific Biosciences of California, Inc. (PACB) reported $159.3M in revenue over the twelve months to Jun 30, 2026, up 2.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PACB FY2025 2026-10-04

Despite a modest sales recovery, 2025 shows a cash-burning business whose accounting losses and near-zero equity expose different pressures.

The earnings-quality split is pronounced: FY2025 posted a net loss of $546M while operating cash flow was -$111M, less negative than in FY2024. That divergence is consistent with non-cash charges, especially depreciation and amortization of $382M, dominating reported earnings.

Revenue rose from $154M in FY2024 to $160M in FY2025, but that modest recovery did not reshape the cost structure. Gross margin rebounded from 24.2% to 28.6%, while operating margin deteriorated to -346.2%, showing that pressures below gross profit outweighed better reported production economics.

By FY2025, liabilities were $779M against only $5.3M of equity, leaving very little balance-sheet cushion. The reported debt-to-equity ratio reached 145.6x, while reported liquidity equaled 30.2 months of the latest annual operating outflow—a historical balance-to-flow comparison, not a forecast.

Financial Health Signals

Financial Health Score 49/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Pacific Biosciences of California, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Pacific Biosciences of California, Inc. held $279.5M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $111.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Pacific Biosciences of California, Inc. scores 56/100 among other emerging companies.

Dilution

Pacific Biosciences of California, Inc. had 302M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Pacific Biosciences of California, Inc. scores 55/100 among other emerging companies.

R&D Intensity

Pacific Biosciences of California, Inc. spent $97.3M on research and development in fiscal year 2025, which was 13.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Pacific Biosciences of California, Inc. scores 43/100 among other emerging companies.

Revenue Progress

Pacific Biosciences of California, Inc. reported revenue of $160.0M in fiscal year 2025, against $154.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Pacific Biosciences of California, Inc. scores 29/100 among other emerging companies.

Burn Trend

Pacific Biosciences of California, Inc.'s operations used $111.2M of cash in fiscal year 2025, against $206.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Pacific Biosciences of California, Inc. scores 74/100 among other emerging companies.

Balance Sheet

Pacific Biosciences of California, Inc.'s cash, cash equivalents and investments came to $279.5M at the end of fiscal year 2025, against $778.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Pacific Biosciences of California, Inc. scores 36/100 among other emerging companies.

Altman Z-Score Distress

-6.06

Pacific Biosciences of California, Inc. scores -6.06, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($537.7M) relative to total liabilities ($778.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/8

Pacific Biosciences of California, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Pacific Biosciences of California, Inc. reported a net loss of $546.4M while operations used $111.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Pacific Biosciences of California, Inc. reported an operating loss of $553.9M against $7.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$39.0M

YoY-1.9%

QoQ+4.9%

5Y CAGR+5.0%

10Y CAGR+6.5%

Pacific Biosciences of California, Inc. generated $39.0M in revenue in Q2 2026. This represents a decrease of 1.9% from the same quarter a year earlier. Against the prior quarter it is up 4.9%.

EBITDA

-$42.3M

YoY-2.7%

QoQ-723.2%

Pacific Biosciences of California, Inc.'s EBITDA was -$42.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.7% from the same quarter a year earlier. Against the prior quarter it is down 723.2%.

Net Income

-$44.7M

YoY-6.7%

QoQ-440.7%

Pacific Biosciences of California, Inc. reported -$44.7M in net income in Q2 2026. This represents a decrease of 6.7% from the same quarter a year earlier. Against the prior quarter it is down 440.7%.

EPS (Diluted)

-$0.14

YoY0.0%

QoQ-366.7%

Pacific Biosciences of California, Inc. earned -$0.14 per diluted share (EPS) in Q2 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 366.7%.

Cash & Balance Sheet

Free Cash Flow

-$37.1M

YoY-24.1%

QoQ+22.2%

Pacific Biosciences of California, Inc. recorded an outflow of $37.1M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 24.1% from the same quarter a year earlier. Against the prior quarter it is up 22.2%.

Cash & Debt

$61.0M

YoY+11.3%

QoQ+8.4%

5Y CAGR-33.2%

10Y CAGR+9.4%

Pacific Biosciences of California, Inc. held $61.0M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

311M

YoY+3.5%

QoQ+0.1%

5Y CAGR+9.3%

10Y CAGR+13.0%

Pacific Biosciences of California, Inc. had 311M shares outstanding in Q2 2026. This represents an increase of 3.5% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

32.4%

YoY-4.5pp

QoQ-2.1pp

5Y change-12.5pp

10Y change-18.9pp

Pacific Biosciences of California, Inc.'s gross margin was 32.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 4.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.

Operating Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$23.0M

YoY+2.2%

QoQ+17.4%

5Y CAGR+0.7%

Pacific Biosciences of California, Inc. invested $23.0M in research and development in Q2 2026. This represents an increase of 2.2% from the same quarter a year earlier. Against the prior quarter it is up 17.4%.

Capital Expenditures

$1.6M

YoY+182.7%

QoQ-48.9%

5Y CAGR-0.2%

10Y CAGR-5.7%

Pacific Biosciences of California, Inc. invested $1.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 182.7% from the same quarter a year earlier. Against the prior quarter it is down 48.9%.

Share Buybacks

Not reported for Q2 2026.

PACB Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PACB quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$159.3M	$160.0M+3.9%	$154.0M-23.2%	$200.5M+56.3%	$128.3M-1.7%	$130.5M+65.4%	$78.9M-13.2%	$90.9M+15.6%	$78.6M-15.9%	$93.5M+3.0%	$90.7M-2.2%	$92.8M+53.1%	$60.6M+115.0%	$28.2M+8.5%	$26.0M-23.3%	$33.9M
Cost of Revenue	$101.3M	$114.2M-2.1%	$116.7M-21.0%	$147.7M+86.4%	$79.3M+10.6%	$71.7M+54.7%	$46.3M-17.7%	$56.3M+5.2%	$53.5M-9.0%	$58.8M+26.3%	$46.6M+18.4%	$39.3M+5.8%	$37.2M+70.9%	$21.8M-13.1%	$25.0M+20.2%	$20.8M
Gross Profit	$57.9M	$45.8M+22.8%	$37.3M-29.4%	$52.8M+7.6%	$49.0M-16.7%	$58.9M+80.7%	$32.6M-5.8%	$34.6M+37.8%	$25.1M-27.6%	$34.7M-21.5%	$44.2M-17.4%	$53.5M+128.4%	$23.4M+264.6%	$6.4M+582.9%	$940K-92.8%	$13.0M
R&D Expenses	$88.4M	$97.3M-27.9%	$134.9M-27.9%	$187.2M-3.0%	$193.0M+70.9%	$112.9M+76.0%	$64.2M+7.6%	$59.6M-4.7%	$62.6M-4.2%	$65.3M-3.4%	$67.6M+11.9%	$60.4M+25.3%	$48.2M+6.7%	$45.2M-5.1%	$47.6M-37.4%	$76.1M
SG&A Expenses	$129.7M	$141.5M-19.2%	$175.0M+3.1%	$169.8M+5.6%	$160.9M+29.6%	$124.1M+70.5%	$72.8M-3.6%	$75.5M+18.9%	$63.5M+7.4%	$59.1M+23.7%	$47.8M+5.8%	$45.2M+18.8%	$38.0M-1.9%	$38.7M-18.7%	$47.7M+2.0%	$46.7M
Operating Income	-$133.0M	-$553.9M-16.8%	-$474.3M-41.8%	-$334.5M-8.9%	-$307.2M-46.0%	-$210.4M-101.6%	-$104.4M-3.8%	-$100.5M+0.4%	-$101.0M-12.5%	-$89.8M-26.0%	-$71.2M-144.5%	-$29.1M+53.6%	-$62.9M+18.9%	-$77.5M+17.8%	-$94.3M+14.0%	-$109.8M
EBITDA	N/A	-$171.4M+60.4%	-$433.1M-40.7%	-$307.9M-6.2%	-$289.9M-45.5%	-$199.2M-109.5%	-$95.1M-4.9%	-$90.6M+3.4%	-$93.8M-15.3%	-$81.3M-20.7%	-$67.4M-164.6%	-$25.5M+56.6%	-$58.6M+18.4%	-$71.9M+18.0%	-$87.7M+15.6%	-$104.0M
Interest Expense	$7.3M	$7.0M-48.2%	$13.4M-6.5%	$14.3M-2.4%	$14.7M+17.2%	$12.5M+4592.9%	$267K-89.8%	$2.6M+7.8%	$2.4M-17.0%	$2.9M-9.7%	$3.2M+10.5%	$2.9M+3.5%	$2.8M+14.1%	$2.5M+804.4%	$274K-4.5%	$287K
Income Tax	$827K	$318K+0.6%	$316K+102.8%	-$11.4M	$0+100.0%	-$93.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$131.4M	-$546.4M-76.3%	-$309.9M-1.0%	-$306.7M+2.4%	-$314.2M-73.4%	-$181.2M-716.3%	$29.4M+134.9%	-$84.1M+18.0%	-$102.6M-11.3%	-$92.2M-24.0%	-$74.4M-134.7%	-$31.7M+52.1%	-$66.2M+16.6%	-$79.3M+16.1%	-$94.5M+13.6%	-$109.4M
EPS (Basic)	N/A	-$1.82-61.1%	-$1.13+6.6%	-$1.21+13.6%	-$1.40-57.3%	-$0.89-594.4%	$0.18+132.7%	-$0.55+27.6%	-$0.76	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$0.43	-$1.82	-$1.59-31.4%	-$1.21+13.6%	-$1.40-57.3%	-$0.89-623.5%	$0.17+130.9%	-$0.55+27.6%	-$0.76	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	300M	288M+13.7%	254M+12.9%	225M+10.0%	204M+16.7%	175M+14.7%	153M+12.9%	135M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$39.0M-1.9%	$37.2M+0.1%	$44.6M+13.8%	$38.4M-3.8%	$39.8M+10.4%	$37.2M-4.3%	$39.2M-32.8%	$40.0M-28.2%
Cost of Revenue	$26.4M+5.1%	$24.3M-36.8%	$28.1M-3.7%	$22.5M-24.8%	$25.1M-16.6%	$38.5M+39.9%	$29.2M-40.2%	$30.0M-20.7%
Gross Profit	$12.6M-13.9%	$12.8M+1036.6%	$16.6M+64.7%	$15.9M+58.9%	$14.7M+147.3%	-$1.4M-112.2%	$10.1M+5.1%	$10.0M-44.1%
R&D Expenses	$23.0M+2.2%	$19.6M-32.5%	$22.9M-16.7%	$22.8M-10.5%	$22.5M-41.5%	$29.1M-33.1%	$27.5M-38.3%	$25.5M-46.3%
SG&A Expenses	$33.4M-7.7%	$31.2M-22.4%	$34.1M-18.2%	$31.1M-28.9%	$36.2M-21.1%	$40.2M-8.2%	$41.6M-9.5%	$43.7M+0.7%
Operating Income	-$44.6M+0.5%	-$8.4M+98.1%	-$41.2M+73.1%	-$38.9M+39.3%	-$44.9M+74.5%	-$428.9M-427.2%	-$153.0M-74.8%	-$64.1M+22.3%
EBITDA	-$42.3M-2.7%	-$5.1M+91.1%	-$37.4M+73.9%	-$35.4M+33.3%	-$41.2M+75.1%	-$57.4M+19.4%	-$143.3M-102.1%	-$53.0M+32.6%
Interest Expense	$2.1M+21.4%	$1.7M+0.2%	$1.7M-36.9%	$1.7M-50.8%	$1.7M-50.9%	$1.7M-51.4%	$2.8M-22.8%	$3.5M-1.4%
Income Tax	$58K+65.7%	$184K+160.9%	$202K-36.1%	$383K	$35K	-$302K	$316K+144.0%	$0+100.0%
Net Income	-$44.7M-6.7%	-$8.3M+98.1%	-$40.4M-1839.7%	-$38.0M+37.4%	-$41.9M+75.8%	-$426.1M-445.0%	$2.3M+102.8%	-$60.7M+9.2%
EPS (Basic)	-$0.140.0%	-$0.03+97.9%	-$0.13-750.0%	-$0.13+40.9%	-$0.14+78.1%	-$1.44-396.6%	$0.02+106.5%	-$0.22+15.4%
EPS (Diluted)	-$0.140.0%	-$0.03+97.9%	-$0.13+70.5%	-$0.13+40.9%	-$0.14+78.1%	-$1.44-396.6%	-$0.44-41.9%	-$0.22+15.4%
Diluted Shares (Avg)	311M+3.5%	306M+3.0%	N/A	301M+10.2%	300M+10.2%	297M+10.1%	N/A	273M+7.0%

PACB Balance Sheet

PACB quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$784.1M-37.8%	$1.3B-27.8%	$1.7B-1.2%	$1.8B-12.0%	$2.0B+384.8%	$414.0M+179.7%	$148.0M-13.1%	$170.3M+18.2%	$144.1M+4.5%	$137.9M+5.2%	$131.1M+5.4%	$124.4M-8.7%	$136.2M+5.0%	$129.7M-40.6%	$218.3M
Current Assets	$375.1M-24.3%	$495.7M-33.2%	$742.0M-12.9%	$852.1M-22.6%	$1.1B+209.7%	$355.6M+338.7%	$81.0M-38.4%	$131.7M+29.6%	$101.6M-6.8%	$109.0M-1.4%	$110.5M-6.1%	$117.8M-6.9%	$126.5M+10.0%	$115.0M-42.4%	$199.6M
Cash & Equivalents	$63.7M+15.1%	$55.4M-69.2%	$179.9M-44.7%	$325.1M-29.4%	$460.7M+464.5%	$81.6M+175.5%	$29.6M+57.2%	$18.8M+14.2%	$16.5M-1.5%	$16.8M-50.1%	$33.6M-7.7%	$36.4M+38.3%	$26.4M-43.4%	$46.5M-20.9%	$58.9M
Short-Term Investments	$215.8M-35.5%	$334.6M-25.9%	$451.5M+1.0%	$447.2M-23.4%	$583.7M+146.1%	$237.2M+1118.2%	$19.5M-76.7%	$83.5M+80.1%	$46.4M-16.0%	$55.2M+13.5%	$48.6M-25.1%	$64.9M-24.7%	$86.2M+59.4%	$54.0M-54.4%	$118.6M
Inventory	$49.3M-16.1%	$58.8M+3.7%	$56.7M+12.5%	$50.4M+104.8%	$24.6M+72.9%	$14.2M+6.9%	$13.3M-25.5%	$17.9M-22.5%	$23.1M+47.5%	$15.6M+42.7%	$11.0M-3.4%	$11.3M+12.8%	$10.1M+4.8%	$9.6M-38.2%	$15.5M
Accounts Receivable	$35.4M+28.8%	$27.5M-24.8%	$36.6M+94.9%	$18.8M-22.5%	$24.2M+44.0%	$16.8M+10.3%	$15.3M+77.6%	$8.6M-36.0%	$13.4M+17.6%	$11.4M+117.8%	$5.2M+54.0%	$3.4M+24.0%	$2.7M-2.7%	$2.8M-38.1%	$4.6M
Long-Term Investments	$0	$0-100.0%	$96.1M+37.4%	$69.9M-42.7%	$122.0M+493.3%	$20.6M	$0-100.0%	$1.5M	$0	$0	$0	$0	$0	$0	$0
Goodwill	$317.8M0.0%	$317.8M-31.3%	$462.3M+12.8%	$410.0M0.0%	$410.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$778.7M+3.3%	$753.9M-27.8%	$1.0B-13.2%	$1.2B-1.0%	$1.2B+1449.2%	$78.5M-15.7%	$93.1M+65.6%	$56.2M-3.0%	$58.0M+9.0%	$53.2M-7.6%	$57.6M-17.1%	$69.4M+3.6%	$67.0M+230.1%	$20.3M-24.4%	$26.9M
Current Liabilities	$72.8M+9.9%	$66.3M-30.2%	$95.0M-63.9%	$263.3M+267.2%	$71.7M+86.2%	$38.5M-21.7%	$49.2M+82.8%	$26.9M-6.1%	$28.6M-15.2%	$33.8M-11.5%	$38.2M+21.2%	$31.5M+39.6%	$22.6M+53.0%	$14.7M-23.9%	$19.4M
Non-Current Liabilities	$705.9M+2.7%	$687.6M-27.6%	$949.7M+0.9%	$940.8M-17.8%	$1.1B+2761.6%	$40.0M-8.9%	$43.9M+49.7%	$29.3M-0.1%	$29.3M+50.9%	$19.4M+0.3%	$19.4M-48.9%	$38.0M-14.6%	$44.5M+699.7%	$5.6M-25.7%	$7.5M
Long-Term Debt	N/A	N/A	N/A	$896.7M+0.1%	$896.1M	N/A	$15.9M+8.3%	$14.7M+7.5%	$13.6M-15.3%	$16.1M	N/A	$14.1M+5.8%	$13.3M+410.8%	$2.6M-6.2%	$2.8M
Total Equity	$5.3M-98.9%	$506.6M-27.8%	$701.3M+24.6%	$562.9M-28.8%	$791.0M+135.8%	$335.5M+510.9%	$54.9M-51.9%	$114.1M+32.5%	$86.1M+1.7%	$84.7M+15.1%	$73.5M+33.8%	$54.9M-20.6%	$69.2M-36.8%	$109.4M-42.9%	$191.5M
Retained Earnings	-$2.7B-25.4%	-$2.1B-16.8%	-$1.8B-20.0%	-$1.5B-25.8%	-$1.2B-17.5%	-$1.0B+2.8%	-$1.1B-8.6%	-$982.1M-11.6%	-$879.7M-11.7%	-$787.5M-10.4%	-$713.2M-4.7%	-$681.5M-10.8%	-$615.3M-14.8%	-$536.0M-21.4%	-$441.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$751.9M-8.9%	$782.4M-9.1%	$784.1M-37.8%	$803.2M-44.6%	$825.5M-45.3%	$860.8M-48.5%	$1.3B-27.8%	$1.5B-23.6%
Current Assets	$338.6M-18.1%	$369.5M-16.9%	$375.1M-24.3%	$394.2M-32.5%	$413.4M-34.2%	$444.9M-34.3%	$495.7M-33.2%	$584.2M-33.8%
Cash & Equivalents	$61.0M+11.3%	$56.3M-3.8%	$63.7M+15.1%	$56.5M-27.6%	$54.8M-44.9%	$58.5M-23.7%	$55.4M-69.2%	$78.0M-79.8%
Short-Term Investments	$175.9M-32.3%	$219.7M-22.8%	$215.8M-35.5%	$242.2M-38.4%	$259.9M-36.6%	$284.6M-41.4%	$334.6M-25.9%	$393.2M+2.9%
Inventory	$61.1M+13.5%	$51.0M-5.5%	$49.3M-16.1%	$53.2M-19.1%	$53.8M-21.5%	$54.0M-19.8%	$58.8M+3.7%	$65.7M-3.7%
Accounts Receivable	$31.1M-3.6%	$29.4M-7.3%	$35.4M+28.8%	$30.6M+4.2%	$32.3M-0.5%	$31.6M+4.4%	$27.5M-24.8%	$29.4M-3.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$0
Goodwill	$317.8M0.0%	$317.8M0.0%	$317.8M0.0%	$317.8M-13.9%	$317.8M-13.9%	$317.8M-31.3%	$317.8M-31.3%	$369.1M-20.4%
Total Liabilities	$785.1M+2.8%	$780.0M+1.4%	$778.7M+3.3%	$767.1M-23.1%	$764.0M-24.9%	$769.2M-24.7%	$753.9M-27.8%	$996.9M-12.1%
Current Liabilities	$68.8M+15.1%	$65.4M-1.9%	$72.8M+9.9%	$63.2M+5.4%	$59.8M-23.8%	$66.6M-8.7%	$66.3M-30.2%	$60.0M-67.4%
Non-Current Liabilities	$716.3M+1.7%	$714.6M+1.7%	$705.9M+2.7%	$703.9M-24.9%	$704.2M-25.0%	$702.5M-25.9%	$687.6M-27.6%	$936.9M-1.4%
Total Equity	-$33.2M-154.0%	$2.4M-97.4%	$5.3M-98.9%	$36.1M-92.0%	$61.5M-87.5%	$91.6M-85.9%	$506.6M-27.8%	$453.1M-40.7%
Retained Earnings	-$2.7B-5.0%	-$2.7B-5.0%	-$2.7B-25.4%	-$2.7B-23.4%	-$2.6B-25.2%	-$2.6B-34.3%	-$2.1B-16.8%	-$2.2B-22.4%

Not reported in any period shown, so not listed: Long-Term Debt.

PACB Cash Flow Statement

PACB quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$118.0M	-$111.2M+46.0%	-$206.1M+20.5%	-$259.2M+1.5%	-$263.2M-136.7%	-$111.2M-670.1%	$19.5M+124.9%	-$78.3M-17.9%	-$66.4M+1.6%	-$67.5M+0.6%	-$67.9M-41.8%	-$47.9M+7.0%	-$51.5M-72.5%	-$29.8M+61.2%	-$76.8M+25.4%	-$103.0M
Depreciation & Amortization	N/A	$382.4M+828.6%	$41.2M+55.2%	$26.5M+53.2%	$17.3M+54.6%	$11.2M+20.4%	$9.3M-6.5%	$9.9M+37.9%	$7.2M-14.5%	$8.4M+117.9%	$3.9M+5.4%	$3.7M-12.9%	$4.2M-25.3%	$5.6M-15.1%	$6.6M+14.6%	$5.8M
Stock-Based Compensation	N/A	$41.7M-41.3%	$71.0M-1.5%	$72.1M-8.3%	$78.6M+7.2%	$73.4M+318.4%	$17.5M+6.9%	$16.4M-29.2%	$23.2M+13.8%	$20.4M+4.0%	$19.6M+41.3%	$13.8M+39.2%	$9.9M+0.4%	$9.9M+2.1%	$9.7M-21.6%	$12.4M
Capital Expenditures	$5.4M	$2.7M-56.1%	$6.2M-30.0%	$8.8M-47.2%	$16.8M+182.4%	$5.9M+470.8%	$1.0M-63.4%	$2.8M+53.0%	$1.9M-82.2%	$10.4M+27.1%	$8.2M+172.7%	$3.0M+87.0%	$1.6M+77.0%	$909K-46.6%	$1.7M-81.7%	$9.3M
Free Cash Flow	-$123.6M	-$113.9M+46.3%	-$212.2M+20.8%	-$268.0M+4.3%	-$280.0M-139.1%	-$117.1M-734.3%	$18.5M+122.8%	-$81.1M-18.8%	-$68.3M+12.4%	-$78.0M-2.4%	-$76.1M-49.6%	-$50.9M+4.1%	-$53.1M-72.7%	-$30.7M+60.9%	-$78.5M+30.0%	-$112.3M
Investing Cash Flow	$120.9M	$115.4M-6.9%	$124.0M+2593.4%	$4.6M-96.0%	$116.1M+117.1%	-$678.5M-209.4%	-$219.3M-453.5%	$62.0M+261.5%	-$38.4M-2380.0%	-$1.5M+89.6%	-$14.9M	N/A	N/A	-$33.1M-153.6%	$61.8M+858.6%	$6.4M
Financing Cash Flow	$3.2M	$3.4M+108.0%	-$43.0M-139.5%	$108.9M+1031.7%	$9.6M-99.2%	$1.2B+364.4%	$251.8M+848.6%	$26.5M-75.2%	$107.2M+55.8%	$68.8M+4.4%	$65.9M	N/A	N/A	$42.8M+1481.2%	$2.7M-65.1%	$7.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$35.6M-21.1%	-$44.7M-1.4%	-$19.1M+37.8%	-$18.7M+58.9%	-$29.4M+45.9%	-$44.1M+41.8%	-$30.6M+46.8%	-$45.5M+30.3%
Depreciation & Amortization	$2.3M-36.9%	$3.2M-99.1%	$3.8M-61.3%	$3.5M-68.5%	$3.7M-64.5%	$371.5M+3581.0%	$9.7M-1.4%	$11.0M+187.3%
Stock-Based Compensation	$9.3M-22.1%	$4.5M-51.5%	N/A	N/A	$11.9M-30.9%	$9.2M-52.9%	N/A	$18.3M-7.3%
Capital Expenditures	$1.6M+182.7%	$3.0M+119.1%	$861K-46.8%	-$86K-89.1%	$550K-62.8%	$1.4M-64.2%	$1.6M-20.1%	-$787K-5.2%
Free Cash Flow	-$37.1M-24.1%	-$47.7M-5.0%	-$19.9M+38.2%	-$18.8M+59.4%	-$29.9M+46.3%	-$45.4M+42.9%	-$32.3M+45.8%	-$46.3M+29.9%
Investing Cash Flow	$40.1M+58.5%	$35.9M-20.7%	$26.0M-55.3%	$18.9M-18.0%	$25.3M-67.1%	$45.2M+232.5%	$58.2M+187.5%	$23.1M-90.5%
Financing Cash Flow	$255K	$1.4M-26.6%	$0+100.0%	$1.5M+80.9%	$0+100.0%	$2.0M-70.1%	-$50.2M+38.5%	$812K+204.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

PACB Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PACB quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	28.6%+4.4pp	24.2%-2.1pp	26.3%-11.9pp	38.2%-6.9pp	45.1%+3.8pp	41.3%+3.2pp	38.0%+6.1pp	31.9%-5.2pp	37.1%-11.6pp	48.7%-8.9pp	57.6%+19.0pp	38.6%+15.8pp	22.8%+19.2pp	3.6%-34.9pp	38.5%
Operating Margin	-346.1%	-308.0%	-166.8%	-239.4%	-161.2%	-132.3%	-110.6%	-128.4%	-96.1%-17.5pp	-78.5%-47.1pp	-31.4%	-103.7%	-275.2%	-363.1%	-324.1%
Net Margin	-341.5%	-201.2%	-153.0%	-244.9%	-138.8%	37.3%+129.8pp	-92.6%	-130.4%	-98.6%-16.6pp	-82.0%-47.8pp	-34.2%	-109.2%	-281.4%	-363.6%	-323.0%
Return on Equity	-10215.0%-10153.8pp	-61.2%-17.4pp	-43.7%+12.1pp	-55.8%-32.9pp	-22.9%-31.7pp	8.8%+162.0pp	-153.2%-63.3pp	-89.9%+17.1pp	-107.1%-19.2pp	-87.8%-44.7pp	-43.1%+77.3pp	-120.4%-5.8pp	-114.6%-28.3pp	-86.4%-29.2pp	-57.1%
Return on Assets	-69.7%-45.1pp	-24.6%-7.0pp	-17.6%+0.2pp	-17.8%-8.8pp	-9.0%-16.1pp	7.1%+63.9pp	-56.9%+3.4pp	-60.2%+3.8pp	-64.0%-10.0pp	-53.9%-29.8pp	-24.2%+29.0pp	-53.2%+5.0pp	-58.2%+14.6pp	-72.8%-22.7pp	-50.1%
Current Ratio	5.15-2.3x	7.48-0.3x	7.81+4.6x	3.24-12.1x	15.36+6.1x	9.24+7.6x	1.65-3.2x	4.90+1.3x	3.55+0.3x	3.23+0.3x	2.90-0.8x	3.74-1.9x	5.61-2.2x	7.80-2.5x	10.30
Debt-to-Equity	145.59+144.1x	1.490.0x	1.49-0.1x	1.59+0.5x	1.13+0.9x	0.23-0.1x	0.29+0.2x	0.130.0x	0.160.0x	0.19-0.6x	0.78+0.5x	0.26+0.1x	0.19+0.2x	0.020.0x	0.01
Asset Turnover	0.20+0.1x	0.120.0x	0.110.0x	0.070.0x	0.07-0.1x	0.19-0.4x	0.61+0.2x	0.46-0.2x	0.650.0x	0.660.0x	0.71+0.2x	0.49+0.3x	0.210.0x	0.200.0x	0.16
FCF Margin	-71.2%	-137.8%	-133.7%	-218.2%	-89.7%-113.1pp	23.4%+112.7pp	-89.3%-2.4pp	-86.9%-3.5pp	-83.4%+0.5pp	-83.9%-29.1pp	-54.9%+32.7pp	-87.6%	-109.1%	-302.2%	-331.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	32.4%-4.5pp	34.5%+38.2pp	37.1%+11.5pp	41.4%+16.3pp	36.9%+20.4pp	-3.7%-32.8pp	25.6%+9.2pp	25.0%-7.1pp
Operating Margin	-114.4%	-22.5%	-92.3%	-101.1%	-112.8%	-1154.5%	-390.1%	-160.3%
Net Margin	-114.7%	-22.3%	-90.5%-96.4pp	-98.9%	-105.4%	-1146.8%	5.9%	-151.9%
Return on Equity	N/A	-349.8%+115.2pp	-755.2%-755.6pp	-105.3%-91.9pp	-68.2%-33.0pp	-464.9%-452.9pp	0.5%+12.2pp	-13.4%-4.6pp
Return on Assets	-5.9%-0.9pp	-1.1%+48.4pp	-5.1%-5.3pp	-4.7%-0.5pp	-5.1%+6.4pp	-49.5%-44.8pp	0.2%+4.9pp	-4.2%-0.7pp
Current Ratio	4.92-2.0x	5.65-1.0x	5.15-2.3x	6.24-3.5x	6.92-1.1x	6.68-2.6x	7.48-0.3x	9.74+4.9x
Debt-to-Equity	N/A	329.67+321.3x	145.59+144.1x	21.25+19.1x	12.42+10.4x	8.39+6.8x	1.490.0x	2.20+0.7x
Asset Turnover	0.050.0x	0.050.0x	0.060.0x	0.050.0x	0.050.0x	0.040.0x	0.030.0x	0.030.0x
FCF Margin	-95.2%-19.9pp	-128.4%	-44.6%+37.6pp	-48.9%	-75.3%	-122.3%	-82.3%	-115.7%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Pacific Biosciences of California, Inc. PACB	FY2025	$160.0M	-$546.4M	N/A	$537.7M	49/100
Surmodics, Inc. SRDX	FY2024	$126.1M	-$11.5M	-9.2%	$614.5M	—
Delcath Systems Inc DCTH	FY2025	$85.2M	$2.7M	3.2%	$488.6M	79/100
RxSight, Inc. RXST	FY2025	$134.5M	-$39	0.0%	$187.6M	73/100
Senseonics Holdings, Inc. SENS	FY2025	$35.3M	-$69.1M	N/A	$410.8M	66/100
Cytek Biosciences, Inc. CTKB	FY2025	$201.5M	-$66.5M	-33.0%	$682.4M	45/100

Where Pacific Biosciences of California, Inc. Ranks

Frequently Asked Questions

What is Pacific Biosciences of California, Inc.'s annual revenue?

Pacific Biosciences of California, Inc. (PACB) reported $160.0M in total revenue for fiscal year 2025. This represents a 3.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pacific Biosciences of California, Inc.'s revenue growing?

Pacific Biosciences of California, Inc. (PACB) revenue grew by 3.9% year-over-year, from $154.0M to $160.0M in fiscal year 2025.

Is Pacific Biosciences of California, Inc. profitable?

No, Pacific Biosciences of California, Inc. (PACB) reported a net income of -$546.4M in fiscal year 2025.

What is Pacific Biosciences of California, Inc.'s EBITDA?

Pacific Biosciences of California, Inc. (PACB) had EBITDA of -$171.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Pacific Biosciences of California, Inc.'s gross margin?

Pacific Biosciences of California, Inc. (PACB) had a gross margin of 28.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Pacific Biosciences of California, Inc.'s return on equity (ROE)?

Pacific Biosciences of California, Inc. (PACB) has a return on equity of -10215.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pacific Biosciences of California, Inc.'s free cash flow?

Pacific Biosciences of California, Inc. (PACB) recorded an outflow of $113.9M in free cash flow during fiscal year 2025. This represents a 46.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pacific Biosciences of California, Inc.'s operating cash flow?

Pacific Biosciences of California, Inc. (PACB) recorded an outflow of $111.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Pacific Biosciences of California, Inc.'s total assets?

Pacific Biosciences of California, Inc. (PACB) had $784.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pacific Biosciences of California, Inc.'s capital expenditures?

Pacific Biosciences of California, Inc. (PACB) invested $2.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Pacific Biosciences of California, Inc. spend on research and development?

Pacific Biosciences of California, Inc. (PACB) invested $97.3M in research and development during fiscal year 2025.

How many shares does Pacific Biosciences of California, Inc. have outstanding?

Pacific Biosciences of California, Inc. (PACB) had 302M shares outstanding as of fiscal year 2025.

What is Pacific Biosciences of California, Inc.'s current ratio?

Pacific Biosciences of California, Inc. (PACB) had a current ratio of 5.15 as of fiscal year 2025, which is generally considered healthy.

What is Pacific Biosciences of California, Inc.'s debt-to-equity ratio?

Pacific Biosciences of California, Inc. (PACB) had a debt-to-equity ratio of 145.59 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pacific Biosciences of California, Inc.'s return on assets (ROA)?

Pacific Biosciences of California, Inc. (PACB) had a return on assets of -69.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pacific Biosciences of California, Inc.'s P/E ratio?

Pacific Biosciences of California, Inc. (PACB) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $537.7M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Pacific Biosciences of California, Inc.'s price-to-sales ratio?

Pacific Biosciences of California, Inc. (PACB) trades at 3.4x sales, its market capitalization divided by revenue of $159.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $537.7M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Pacific Biosciences of California, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Pacific Biosciences of California, Inc. (PACB) held $279.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $111.2M over that year. Dividing the one by the other, the reported balance equals about 30 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Pacific Biosciences of California, Inc.'s Altman Z-Score?

Pacific Biosciences of California, Inc. (PACB) has an Altman Z-Score of -6.06, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Pacific Biosciences of California, Inc.'s Piotroski F-Score?

Pacific Biosciences of California, Inc. (PACB) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pacific Biosciences of California, Inc.'s earnings high quality?

Pacific Biosciences of California, Inc. (PACB) reported a net loss of $546.4M while operations used $111.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Pacific Biosciences of California, Inc. cover its interest payments?

Pacific Biosciences of California, Inc. (PACB) reported an operating loss of $553.9M against $7.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Pacific Biosciences of California, Inc.?

Pacific Biosciences of California, Inc. (PACB) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.