PacBio reports Q1 EPS (12c), consensus (13c)

Reports Q1 revenue $37.18M, consensus $39.98M. “We continue to see increasing clinical adoption of HiFi which contributed to another record quarter for consumable revenue. However, instrument revenue, particularly Vega, was lower than we had expected,” said Christian Henry, President and Chief Executive Officer. “Nonetheless, we made significant progress on several important initiatives, such as our expansion of the SPRQ-Nx beta program based on the positive early feedback on the new chemistry. Based on this success, we plan to execute a broad commercial rollout to all Revio customers later this month, which we believe will further catalyze consumable growth and Revio instrument demand. Additionally, we continue to prove our ability to win large-scale projects as we were selected by Basecamp Research to power the Trillion Gene Atlas, which has the potential to produce the largest and most diverse high-fidelity metagenomic dataset in the world.”