Overview

* PacBio Q2 revenue rises to $39.8 mln from $36.0 mln yr/yr

* Adjusted net loss per share of $0.13 beats analyst expectations, per LSEG data

* Adjusted net income of -$40 mln beats estimates, per LSEG data

Result Drivers

* HIFI SEQUENCING ADOPTION - Increased adoption of HiFi sequencing platforms, particularly Revio and Vega systems, contributed to revenue growth

* CHINA EXPANSION - New distribution agreement in China expanded access to clinical lab networks, supporting revenue in clinical and research settings

* COST MANAGEMENT - Reduced operating expenses helped lower net loss

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat -$0.13 -$0.17

Adjusted (8

EPS Analysts

)

Q2 EPS -$0.14

Q2 Beat -$40 mln -$51.50

Adjusted mln (7

Net Analysts

Income )

Q2 $15.20

Adjusted mln

Gross

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

* Wall Street's median 12-month price target for Pacific Biosciences of California Inc ( PACB ) is $1.80, about 23.3% above its August 6 closing price of $1.38

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)