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PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

PACB Clue Score23
United States Fiscal year ends December CIK 0001299130
$2.33 +1.30% Close, 9 Oct 2026
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Price $2.33 −90.28% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue90.7Operating income−71.2Net income−74.4Fiscal year 2017Revenue93.5 +3.0%Operating income−89.8Net income−92.2Fiscal year 2018Revenue78.6 −15.9%Operating income−101.0Net income−102.6EPS, diluted−0.76Fiscal year 2019Revenue90.9 +15.6%Operating income−100.5Net income−84.1EPS, diluted−0.55Fiscal year 2020Revenue78.9 −13.2%Operating income−104.4Net income29.4EPS, diluted0.17Fiscal year 2021Revenue130.5 +65.4%Operating income−210.4Net income−181.2 −716.3%EPS, diluted−0.89 −623.5%Fiscal year 2022Revenue128.3 −1.7%Operating income−307.2Net income−314.2EPS, diluted−1.40Fiscal year 2023Revenue200.5 +56.3%Operating income−334.5Net income−306.7EPS, diluted−1.21Fiscal year 2024Revenue154.0 −23.2%Operating income−474.3Net income−309.9EPS, diluted−1.59Fiscal year 2025Revenue160.0 +3.9%Operating income−553.9Net income−546.4EPS, diluted−1.82
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 90.7 93.5 78.6 90.9 78.9 130.5 128.3 200.5 154.0 160.0
Growth +3.0% −15.9% +15.6% −13.2% +65.4% −1.7% +56.3% −23.2% +3.9%
Operating income −71.2 −89.8 −101.0 −100.5 −104.4 −210.4 −307.2 −334.5 −474.3 −553.9
Net income −74.4 −92.2 −102.6 −84.1 29.4 −181.2 −314.2 −306.7 −309.9 −546.4
Growth −716.3%
EPS, diluted n/a n/a −0.76 −0.55 0.17 −0.89 −1.40 −1.21 −1.59 −1.82
Growth −623.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin48.7%Operating margin−78.5%Net margin−82.0%Free cash flow margin−83.9%Fiscal year 2017Gross margin37.1%Operating margin−96.1%Net margin−98.6%Free cash flow margin−83.4%Fiscal year 2018Gross margin31.9%Operating margin−128.4%Net margin−130.4%Free cash flow margin−86.8%Fiscal year 2019Gross margin38.0%Operating margin−110.6%Net margin−92.6%Free cash flow margin−89.3%Fiscal year 2020Gross margin41.3%Operating margin−132.3%Net margin37.3%Free cash flow margin23.4%Fiscal year 2021Gross margin45.1%Operating margin−161.2%Net margin−138.9%Free cash flow margin−89.7%Fiscal year 2022Gross margin38.2%Operating margin−239.4%Net margin−244.9%Free cash flow margin−218.2%Fiscal year 2023Gross margin26.3%Operating margin−166.8%Net margin−153.0%Free cash flow margin−133.7%Fiscal year 2024Gross margin24.2%Operating margin−308.0%Net margin−201.2%Free cash flow margin−137.8%Fiscal year 2025Gross margin28.6%Operating margin−346.2%Net margin−341.5%Free cash flow margin−71.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
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%
Free cash flow margin −83.9% −83.4% −86.8% −89.3% 23.4% −89.7% −218.2% −133.7% −137.8% −71.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−67.9Capital expenditure−8.2Free cash flow−76.1Fiscal year 2017Operating cash flow−67.5Capital expenditure−10.4Free cash flow−78.0Fiscal year 2018Operating cash flow−66.4Capital expenditure−1.9Free cash flow−68.3Fiscal year 2019Operating cash flow−78.3Capital expenditure−2.8Free cash flow−81.1Fiscal year 2020Operating cash flow19.5Capital expenditure−1.0Free cash flow18.5Fiscal year 2021Operating cash flow−111.2Capital expenditure−5.9Free cash flow−117.1 −734.3%Fiscal year 2022Operating cash flow−263.2Capital expenditure−16.8Free cash flow−280.0Fiscal year 2023Operating cash flow−259.2Capital expenditure−8.8Free cash flow−268.0Fiscal year 2024Operating cash flow−206.1Capital expenditure−6.2Free cash flow−212.2Fiscal year 2025Operating cash flow−111.2Capital expenditure−2.7Free cash flow−113.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −67.9 −67.5 −66.4 −78.3 19.5 −111.2 −263.2 −259.2 −206.1 −111.2
Capital expenditure −8.2 −10.4 −1.9 −2.8 −1.0 −5.9 −16.8 −8.8 −6.2 −2.7
Free cash flow −76.1 −78.0 −68.3 −81.1 18.5 −117.1 −280.0 −268.0 −212.2 −113.9
Growth −734.3%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash16.8Total debt16.1Net cash (debt)0.7Shareholders’ equity84.7Debt to equity0.19Fiscal year 2017Cash16.5Total debt13.6Net cash (debt)2.9Shareholders’ equity86.1Debt to equity0.16Fiscal year 2018Cash18.8Total debt14.7Net cash (debt)4.2Shareholders’ equity114.1Debt to equity0.13Fiscal year 2019Cash29.6Total debt15.9Net cash (debt)13.8Shareholders’ equity54.9Debt to equity0.29Fiscal year 2020Cash81.6Shareholders’ equity335.5Fiscal year 2021Cash460.7Total debt896.1Net cash (debt)−435.3Shareholders’ equity791.0Debt to equity1.13Fiscal year 2022Cash325.1Total debt896.7Net cash (debt)−571.6Shareholders’ equity562.9Debt to equity1.59Fiscal year 2023Cash179.9Shareholders’ equity701.3Fiscal year 2024Cash55.4Shareholders’ equity506.6Fiscal year 2025Cash63.7Shareholders’ equity5.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 16.8 16.5 18.8 29.6 81.6 460.7 325.1 179.9 55.4 63.7
Total debt 16.1 13.6 14.7 15.9 n/a 896.1 896.7 n/a n/a n/a
Net cash (debt) 0.7 2.9 4.2 13.8 n/a −435.3 −571.6 n/a n/a n/a
Shareholders’ equity 84.7 86.1 114.1 54.9 335.5 791.0 562.9 701.3 506.6 5.3
Debt to equity 0.19 0.16 0.13 0.29 n/a 1.13 1.59 n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
90.7 93.5 78.6 90.9 78.9 130.5 128.3 200.5 154.0 160.0
Growth +3.0% −15.9% +15.6% −13.2% +65.4% −1.7% +56.3% −23.2% +3.9%
46.6 58.8 53.5 56.3 46.3 71.7 79.3 147.7 116.7 114.2
44.2 34.7 25.1 34.6 32.6 58.9 49.0 52.8 37.3 45.8
Growth −21.5% −27.6% +37.8% −5.8% +80.7% −16.7% +7.6% −29.4% +22.8%
67.6 65.3 62.6 59.6 64.2 112.9 193.0 187.2 134.9 97.3
47.8 59.1 63.5 75.5 72.8 124.1 160.9 169.8 175.0 141.5
−71.2 −89.8 −101.0 −100.5 −104.4 −210.4 −307.2 −334.5 −474.3 −553.9
Growth
n/a n/a n/a −84.1 29.4 −274.9 −314.2 −318.2 −309.5 −546.1
n/a n/a n/a n/a n/a −93.6 0.0 −11.4 0.3 0.3
−74.4 −92.2 −102.6 −84.1 29.4 −181.2 −314.2 −306.7 −309.9 −546.4
Growth −716.3%
Per share
n/a n/a −0.76 −0.55 0.18 −0.89 −1.40 −1.21 −1.13 −1.82
n/a n/a −0.76 −0.55 0.17 −0.89 −1.40 −1.21 −1.59 −1.82
Growth −623.5%
n/a n/a 135.1 152.5 165.2 204.1 224.6 253.6 274.5 300.0
n/a n/a 135.1 152.5 175.0 204.1 224.6 253.6 288.4 300.0
Growth +12.9% +14.7% +16.7% +10.0% +12.9% +13.7% +4.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 15.2% a year over five years.
  • The diluted share count rose 71.4% in five years, which is dilution.
  • Operating margin is down 213.8 points on five years ago, at -346.2%.
  • A net loss in 9 of 10 years on file.