PACB Financials Pacific Biosciences Of California, Inc.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 15.2% per year over the past 5 years.
Operating margin has contracted, at -346.2% in the latest year.
Financial health
Total debt has grown faster than revenue (131.1% vs 15.2% per year).
Operating income covered interest expense -79.6× in the latest year.
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$160M
-$546M
28.6%
-346.2%
-$114M
—
$64M
2024
$154M
-$310M
24.2%
-308.0%
-$212M
—
$55M
2023
$201M
-$307M
26.3%
-166.8%
-$268M
—
$180M
2022
$128M
-$314M
38.2%
-239.4%
-$280M
$899M
$325M
2021
$131M
-$181M
45.1%
-161.2%
-$117M
$898M
$461M
2020
$79M
$29M
41.3%
-132.3%
$18M
—
$82M
2019
$91M
-$84M
38.0%
-110.6%
-$81M
$16M
$30M
2018
$79M
-$103M
31.9%
-128.4%
-$68M
$15M
$19M
2017
$93M
-$92M
37.1%
-96.1%
-$78M
$14M
$17M
2016
$91M
-$74M
48.7%
-78.5%
-$76M
$16M
$17M
2015
—
-$32M
—
—
—
—
$34M
2014
—
-$66M
—
—
—
$14M
$36M
2013
—
-$79M
—
—
-$31M
$13M
$26M
2012
—
-$94M
—
—
-$79M
$3M
$47M
2011
—
-$109M
—
—
-$112M
$3M
$59M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$37M
-$8M
34.5%
-22.5%
-$48M
—
$56M
Dec '25
—
-$40M
—
—
-$20M
—
$64M
Sep '25
$38M
-$38M
41.4%
-101.1%
-$19M
—
$56M
Jun '25
$40M
-$42M
36.9%
-112.8%
-$30M
—
$55M
Mar '25
$37M
-$426M
-3.7%
-1154.5%
-$45M
—
$59M
Dec '24
—
$2M
—
—
-$32M
—
$55M
Sep '24
$40M
-$61M
25.0%
-160.3%
-$45M
—
$78M
Jun '24
$36M
-$173M
16.5%
-488.3%
-$56M
—
$100M
Mar '24
$39M
-$78M
29.1%
-209.6%
-$80M
—
$77M
Dec '23
—
-$82M
—
—
-$60M
—
$180M
Sep '23
$56M
-$67M
32.1%
-148.1%
-$66M
—
$386M
Jun '23
$48M
-$70M
32.7%
-153.8%
-$44M
—
$209M
Mar '23
$39M
-$88M
25.1%
-234.6%
-$98M
$897M
$354M
Dec '22
—
-$84M
—
—
-$65M
$899M
$325M
Sep '22
$32M
-$77M
41.9%
-230.9%
-$67M
$897M
$304M
Jun '22
$35M
-$71M
45.7%
-191.6%
-$65M
$896M
$310M
Mar '22
$33M
-$81M
42.7%
-233.7%
-$83M
$896M
$429M
Dec '21
—
-$69M
—
—
-$35M
$898M
$461M
Sep '21
$35M
$17M
44.0%
-213.5%
-$42M
$896M
$425M
Jun '21
$31M
-$41M
44.9%
-122.7%
-$17M
$896M
$460M
Valuation over time
How the market has priced PACB against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 28.1× (Mar '23) to 3.1× (Jun '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is PACB growing its revenue and profit?
Over the past 5 years, Pacific Biosciences Of California, Inc.'s revenue has grown 15.2% per year. These are computed facts, not advice.
How much debt does PACB have?
As of FY2025, Pacific Biosciences Of California, Inc. reported — of total debt against $64M of cash; operating income covered interest expense -79.6×.
What is PACB's profit margin?
In FY2025, gross margin was 28.6%, operating margin -346.2%, and net margin -341.5%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.