Pacific Biosciences shares slide on Q3 revenue miss

• Pacific Biosciences of California (PACB -5.1%) Q3 total revenue was $19.1M, compared with $21.9M prior year, missed consensus by $1.25M.
• Q4 revenue estimated to be $24.25M.
• Instrument revenue declined $7.7M, from $11.6M prior.
• Consumables revenue increased to $8M compared with $6.9M.
• Gross profit of $7.1M vs. $6.9M.
• Gross margin of 37.0% vs. 31.5%.
• Net loss of $23.7M, compared to $29.1M.
• GAAP EPS of -$0.14 in-line with the consensus, Q4 EPS consensus of $0.26.
• Cash and investments of $208M as of Sept. 30 vs. $49.1M on Dec. 31, 2019.
• Appointed of Christian Henry as President & CEO and Susan Kim as CFO.
• Launched the new Sequel IIe System, representing the next evolution in our sequencing platform.
• https://seekingalpha.com/news/3630703-pacific-biosciences-of-california-shares-slide-5-on-q3-revenue-miss