EX-99.2 3 pacb-20140724ex99242cd46.htm EX-99.2 Q2FY2014 PR 8-K Filed Exhibit 99.2

 

 

Exhibit 99.2

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three-Month Periods Ended June 30,

 

Six-Month Periods Ended June 30,

(in thousands, except per share amounts)

 

2014

 

2013

 

2014

 

2013

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Product revenue

 

$

7,749 

 

$

4,601 

 

$

15,614 

 

$

8,434 

Service and other revenue

 

 

1,980 

 

 

1,447 

 

 

4,061 

 

 

3,192 

Contractual revenue

 

 

1,696 

 

 

 —

 

 

3,392 

 

 

 —

Total revenue

 

 

11,425 

 

 

6,048 

 

 

23,067 

 

 

11,626 

Cost of Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of product revenue

 

 

6,271 

 

 

3,322 

 

 

13,440 

 

 

6,522 

Cost of service and other revenue

 

 

2,028 

 

 

1,667 

 

 

3,825 

 

 

3,115 

Total cost of revenue

 

 

8,299 

 

 

4,989 

 

 

17,265 

 

 

9,637 

Gross profit

 

 

3,126 

 

 

1,059 

 

 

5,802 

 

 

1,989 

Operating Expense:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

12,435 

 

 

11,682 

 

 

24,206 

 

 

23,665 

Sales, general and administrative

 

 

8,993 

 

 

9,374 

 

 

18,143 

 

 

18,928 

Total operating expense

 

 

21,428 

 

 

21,056 

 

 

42,349 

 

 

42,593 

Operating loss

 

 

(18,302)

 

 

(19,997)

 

 

(36,547)

 

 

(40,604)

Interest expense

 

 

(701)

 

 

(673)

 

 

(1,387)

 

 

(1,098)

Other income (expense), net

 

 

(133)

 

 

199 

 

 

(88)

 

 

127 

Net loss

 

 

(19,136)

 

 

(20,471)

 

 

(38,022)

 

 

(41,575)

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on investments

 

 

24 

 

 

(13)

 

 

28 

 

 

(32)

Comprehensive loss

 

$

(19,112)

 

$

(20,484)

 

$

(37,994)

 

$

(41,607)

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net loss per share

 

$

(0.27)

 

$

(0.33)

 

$

(0.55)

 

$

(0.70)

Shares used in computing basic and diluted net loss per share

 

 

70,515 

 

 

61,922 

 

 

69,195 

 

 

59,660