Pacific Biosciences of California (NASDAQ:PACB) reported mixed first-quarter results on May 8, 2025, with total revenue of $37.2 million, slightly below the $38.8 million recorded in the same period last year. The genomic sequencing technology company faced headwinds from academic funding uncertainty and newly implemented tariffs between the U.S. and China, prompting a strategic restructuring and adjusted revenue guidance.
PacBio’s stock closed at $1.20 on the day of the earnings release, up 6.19% from the previous close, but traded down 2.5% in after-hours trading as investors digested the mixed results and lowered guidance.
Quarterly Performance Highlights
PacBio reported first-quarter product and service revenue of $37.2 million, with consumables showing strong growth while instrument sales declined significantly year-over-year. The company shipped 12 Revio systems and 28 Vega systems during the quarter, with approximately 50% of these placements going to new customers.
"We had a solid start to 2025, though we remain cautious given the macro environment, especially academic funding and trade policy," said Christian Henry, President and CEO of PacBio.
Consumable revenue grew 26% year-over-year to $20.1 million, while service and other revenue increased 59% to $6.0 million. However, instrument revenue declined 42% to $11.0 million compared to Q1 2024, which the company attributed to academic funding uncertainty.
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