10:02 AM EDT, 04/09/2025 (MT Newswires) -- Pacific Biosciences of California ( PACB ) reported preliminary Q1 revenue of $36.9 million, down from $38.8 million a year earlier.

Analysts polled by FactSet expect $33.3 million.

The company said it expects 2025 revenue of between $155 million and $170 million.

Analysts surveyed by FactSet expect $160.9 million.

The company also said it plans to reduce staff and other costs to bring annualized non-GAAP operating expenses $45 million to $50 million below prior guidance of $270 million to $280 million.

Pacific plans to hold its Q1 earnings call on May 8, the company said.

Shares of the company were up more than 14% in recent Wednesday trading.

Price: 1.38, Change: +0.18, Percent Change: +14.58