PACBPACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Laboratory Analytical Instruments
- Revenue
- $160M
- 3.9% YoY
- Operating margin
- -346.2%
- 12% YoY
- EBITDA
- −$541M
- 17% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $836M net debt
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired26% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired42% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $131M | $128M | $201M | $154M | $160M | 3.9% |
| Operating income | −$210M | −$307M | −$334M | −$474M | −$554M | 17% |
| Net income | −$181M | −$314M | −$307M | −$310M | −$546M | 76% |
| Operating cash flow | −$111M | −$263M | −$259M | −$206M | −$111M | 46% |
| Capex | $6M | $17M | $9M | $6M | $3M | 56% |
| Stock-based comp | $73M | $79M | $72M | $71M | $42M | 41% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 3
- Net
- −$2M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 7 | 125 |
| FY2024 | — | — | 7 | 93 |
| FY2023 | — | — | 38 | 94 |
| FY2022 | — | — | 32 | 90 |
| FY2021 | — | — | 79 | 100 |