PACIFIC BIOSCIENCES OF CALIFORNIA Reports 34.1% Year-Over-Year Increase in Total Revenue for Q2 FY2023
August 22, 2023
☀️Earnings Overview
During the second quarter of FY2023, Pacific ($NASDAQ:PACB) Biosciences of California reported total revenue of USD 47.6 million, a 34.1% increase from the same period in the prior fiscal year. Additionally, net income was -69.8 million, a slight improvement from -71.4 million reported the year before.
Analysis
GoodWhale has conducted an analysis of the fundamentals of PACIFIC BIOSCIENCES OF CALIFORNIA, and found that its Star Chart shows that the company has a low health score of 2/10 with regard to its cashflows and debt, making it less likely to safely ride out any crisis without the risk of bankruptcy. Furthermore, PACIFIC BIOSCIENCES OF CALIFORNIA is classified as a ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. It is likely that investors who are looking for potential long-term capital appreciation may be interested in investing in PACIFIC BIOSCIENCES OF CALIFORNIA. Its strength lies in medium asset, growth and weak dividend and profitability. However, due to the company’s low health score, investors should be aware that it may come with an elevated risk of bankruptcy. Therefore, investors should conduct their own due diligence before investing in this company. 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
Investors of the biotechnology company Pacific Biosciences of California should take note of their latest financial results for the second quarter of FY2023. The company reported a total revenue of USD 47.6 million, which is a 34.1% year-over-year increase. However, their net income was negative at -69.8 million compared to the previous year’s -71.4 million. Despite the revenue growth, the company’s stock price dropped the same day, which suggests that investors are likely to remain cautious given the yet uncertain future outlook.
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