Reports Q2 revenue $39.8M, consensus $36.47M. The company shipped 15 Revio systems and 38 Vega systems in the quarter. Cash, cash equivalents, and investments were $314.7M as of June 30. “PacBio (PACB) returned to both sequential and year-over-year revenue growth in the second quarter, while also continuing to reduce operating expenses and cash burn,” said Christian Henry, president and CEO. “This performance reflects solid execution across the company, from disciplined cost management to growing adoption of our HiFi sequencing platforms. We’re especially encouraged by Revio’s momentum in clinical settings and Vega’s continued expansion into new markets. With our focus on innovation and operational efficiency, we believe PacBio is well-positioned for sustainable growth.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PACB:
- PACB Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- PacBio announces results of study published in Nature Methods
- PacBio HiFi sequencing used to power first Arab human pangenome
- PacBio joins 1000 Genomes Long Read project to add isoform sequencing
- Qiagen expands NGS portfolio with launch of QIAseq xHYB Long Read Panels