PacBio reports preliminary Q1 revenue $36.9M, consensus $33.53M

Commentary by Christian Henry, President and CEO of PacBio (PACB): “We are pleased with our start to the year as revenue met our expectations and we achieved record levels of consumable revenue. The Vega launch is progressing well, attracting more customers to HiFi sequencing and is expanding our addressable applications. While the funding and general macroeconomic environment is having an impact on our ability to place more instruments, particularly Revio systems at academic customers, we are encouraged by the consistent Revio utilization and annualized consumable pull-through, which remain in line with our expectations.”