Pacific Biosciences of California (PACB) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and PacBio published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. PacBio reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• PacBio has cut its full-year 2026 revenue outlook twice: $165 million to $175 million in the Q1 release, $155 million to $165 million in the Q2 release and $155 million to $160 million in the Q3 release.
• PacBio's non-GAAP EPS is non-GAAP basic net loss per share as the release reports it. Revenue is in millions, converted from the thousands the release prints.
• Nine-month 2026 results include a $45.8 million gain on the sale of PacBio's short-read sequencing assets and $15.4 million of settlement charges tied to an agreement with Personal Genomics of Taiwan. Neither fell in Q3.

Source: PacBio Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How PacBio splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• PacBio's Product revenue revenue was $34.0 million in Q3 2026, up 4% from $32.6 million in Q3 2025, 84% of total revenue.
• PacBio's Service and other revenue revenue was $6.6 million in Q3 2026, up 12% from $5.8 million in Q3 2025, 16% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, PacBio said:

“PacBio now expects revenue for the full year 2026 to be in the range of $155 million to $160 million.”

Source: PacBio Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PACB forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenue (in millions) and diluted net loss per share, each as first reported in that quarter's release. Q1 2026 includes the gain on the sale of PacBio's short-read assets.

We do not hold a confirmed date for PacBio's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

PacBio, the long-read DNA sequencing company, reported total revenue of $40.6 million for Q3 2026, against $38.4 million a year earlier. Product revenue was $34.0 million, made up of instrument revenue of $13.2 million and consumables revenue of $20.8 million, and service and other revenue was $6.6 million. Its instruments are the Revio and Vega HiFi sequencing systems. (PacBio Q3 2026 release, Nov 4, 2026; PacBio Form 10-Q, Q3 2026, Nov 5, 2026)

PacBio said instrument revenue rose on higher Revio and Vega unit sales and higher Revio average selling prices. It placed 15 Revio systems against 13 a year earlier and 35 Vega systems against 32, with more than 90% of the Vega systems sold to new customers. Over the first nine months instrument revenue fell, because of lower selling prices on multi-system placements and lower Vega unit sales: 88 Vega units against 98, while Revio units rose to 50 from 40. (PacBio Q3 2026 release, Nov 4, 2026; PacBio Form 10-Q, Q3 2026, Nov 5, 2026)

Consumables revenue slipped to $20.8 million from $21.3 million. Growth in Revio and Vega consumables was more than offset by lower consumables revenue from the older Sequel systems, according to the 10-Q. Annualized Revio pull-through per system fell to about $204,000 from about $236,000. Over half of Revio consumables revenue was tied to the SPRQ-Nx chemistry, launched on Revio in the second quarter of 2026 and on Vega in August 2026, which PacBio says is designed to lower the cost of sequencing. (PacBio Q3 2026 release, Nov 4, 2026; PacBio Form 10-Q, Q3 2026, Nov 5, 2026; PacBio Form 10-K, 2025, Feb 25, 2026)

By region, the Americas brought in $18.2 million in Q3 2026 against $18.1 million, Europe, Middle East and Africa $14.0 million against $10.8 million, and Asia-Pacific $8.3 million against $9.6 million. No customer accounted for 10% or more of PacBio's total revenue in the quarter. (PacBio Form 10-Q, Q3 2026, Nov 5, 2026)

PacBio's GAAP net loss was $37.8 million, or $0.12 per share, against $38.0 million, or $0.13 per share, in Q3 2025. Its non-GAAP net loss was $32.8 million, or $0.11 per share. The non-GAAP figures exclude amortization of acquired intangible assets ($1.0 million), amortization of a patent license ($516 thousand) and restructuring and related charges ($3.0 million). (PacBio Q3 2026 release, Nov 4, 2026)

GAAP gross margin fell to 33% from 41%, and non-GAAP gross margin to 36% from 42%, which PacBio put down mainly to higher memory costs and Vega manufacturing transition costs. GAAP operating expenses fell to $50.5 million from $54.8 million on lower personnel costs after restructuring. Under a plan approved on July 30, 2026, PacBio cut 40 employees, about 8% of its workforce. (PacBio Q3 2026 release, Nov 4, 2026; PacBio Form 10-Q, Q3 2026, Nov 5, 2026)

Weighted average shares were 311,247 thousand against 300,844 thousand a year earlier. PacBio ended the quarter with $199.4 million of cash and investments, down from $279.5 million at December 31, 2025, and carried convertible senior notes of $643.1 million on its balance sheet. Chief Financial Officer Jim Gibson stepped down during the quarter; Mark Van Oene, the CEO, is interim CFO. (PacBio Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

PacBio gives a full-year revenue range in each release. In the Q3 2026 release it said it now expects 2026 revenue of $155 million to $160 million. With $116.7 million reported for the first nine months, that range implies fourth-quarter revenue of about $38.3 million to $43.3 million. PacBio gives no EPS outlook and says it cannot reconcile forward non-GAAP gross margin and operating expenses without unreasonable effort. (PacBio Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover PacBio, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones PacBio's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PACB is on is PACB a buy or a sell?, what analysts expect next is on the PACB forecast, and what the company does is on the Pacific Biosciences of California (PACB) stock page.

Every number on this page can be traced to a document PacBio published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.