Overview
PacBio Q2 revenue rises to $39.8 mln from $36.0 mln yr/yr
Adjusted net loss per share of $0.13 beats analyst expectations, per LSEG data
Adjusted net income of -$40 mln beats estimates, per LSEG data
Result Drivers
HIFI SEQUENCING ADOPTION - Increased adoption of HiFi sequencing platforms, particularly Revio and Vega systems, contributed to revenue growth
CHINA EXPANSION - New distribution agreement in China expanded access to clinical lab networks, supporting revenue in clinical and research settings
COST MANAGEMENT - Reduced operating expenses helped lower net loss
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EPS | Beat | -$0.13 | -$0.17 (8 Analysts) |
Q2 EPS | -$0.14 | ||
Q2 Adjusted Net Income | Beat | -$40 mln | -$51.50 mln (7 Analysts) |
Q2 Adjusted Gross Profit | $15.20 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for Pacific Biosciences of California Inc is $1.80, about 23.3% above its August 6 closing price of $1.38
Press Release: ID:nGNX7D1dNk
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)