Pacific Biosciences of California Reports 34.1% Increase in Q2 FY2023 Revenue to USD 47.6 Million
August 21, 2023
☀️Earnings Overview
Pacific ($NASDAQ:PACB) Biosciences of California announced their earnings for Q2 of FY2023 on June 30 2023, showing total revenue of USD 47.6 million, a 34.1% increase from the same period the year before. Although revenue was up, net income still sat in the negatives at USD -69.8 million, an improvement on the -71.4 million reported in the same quarter of the prior year.
Analysis
According to its Risk Rating, PACIFIC BIOSCIENCES OF CALIFORNIA is a high risk investment in terms of financial and business aspects. GoodWhale has detected 3 risk warnings in income sheet, balance sheet, and cashflow statement. To check out these risk warnings, users need to be a registered GoodWhale user. GoodWhale is a great way to get a better understanding of the risk associated with investing in PACIFIC BIOSCIENCES OF CALIFORNIA. It provides users with a Risk Rating that can give them an insight into their financial and business performance, as well as detect any potential risks that may indicate the company is not a sound investment. Moreover, GoodWhale can provide users with three potential risk warnings in their income sheet, balance sheet, and cashflow statement, making it easy for users to take a closer look at their investments. To access this information, users must become registered GoodWhale users. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PACB. More…
| Total Revenues | Net Income | Net Margin |
| 146.14 | -319.2 | -201.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PACB. More…
| Operations | Investing | Financing |
| -278.87 | 116.08 | 9.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PACB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.85k | 1.21k | 2.77 |
Key Ratios Snapshot
Some of the financial key ratios for PACB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.0% | – | -208.5% |
| FCF Margin | ROE | ROA |
| -202.5% | -27.5% | -10.3% |
Peers
The company’s main competitors are SeaSpine Holdings Corp, Vitrolife AB, and Repligen Corp. All three companies offer similar products and services and compete for market share.
– SeaSpine Holdings Corp ($NASDAQ:SPNE)
Seaspine Holdings Corp is a medical device company that focuses on the design, development, and commercialization of orthopedic solutions for the spine. The company has a market cap of 235.87M as of 2022 and a ROE of -14.71%. Seaspine Holdings Corp’s products are used by surgeons to treat patients with spinal disorders.
– Vitrolife AB ($OTCPK:VTRLY)
Vitrolife is a Swedish company that specializes in developing solutions for cell culture and tissue engineering. The company has a market cap of 2.3 billion as of 2022 and a return on equity of 2.16%. Vitrolife’s products are used in research and development in the fields of regenerative medicine, cell therapy, and gene therapy.
– Repligen Corp ($NASDAQ:RGEN)
As of 2022, Repligen Corporation has a market capitalization of 9.55 billion dollars and a return on equity of 7.08%. The company is engaged in the development, manufacturing, and commercialization of bioproduction tools and technologies used to improve the efficiency and productivity of the biopharmaceutical industry. Repligen’s products are used in the manufacture of monoclonal antibodies, vaccines, and other proteins. The company’s products are sold to biopharmaceutical and contract research organizations worldwide.
Summary
Pacific Biosciences of California reported total revenue of USD 47.6 million, a 34.1% increase from the same period last year, but net income still remained negative at -69.8 million. With this in mind, investors should be cautious when evaluating whether to invest in this company. It is important to consider the growth of the business, its financial stability, and the competitive landscape in order to make an informed decision. Although the company’s revenue has increased, the negative net income means that investors should consider any potential risks before investing in Pacific Biosciences of California.
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