EX-99.2 3 pacb-20141023ex992c80620.htm EX-99.2 Q3FY2014 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

 

Nine-Month Periods Ended

 

 

September 30,

 

September 30,

(in thousands, except per share amounts)

 

2014

 

2013

 

2014

 

2013

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Product revenue

 

$

6,762 

 

$

5,814 

 

$

22,376 

 

$

14,248 

Service and other revenue

 

 

2,165 

 

 

1,607 

 

 

6,226 

 

 

4,800 

Contractual revenue

 

 

11,696 

 

 

 —

 

 

15,088 

 

 

 —

Total revenue

 

 

20,623 

 

 

7,421 

 

 

43,690 

 

 

19,048 

Cost of Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of product revenue

 

 

5,608 

 

 

4,616 

 

 

19,048 

 

 

11,138 

Cost of service and other revenue

 

 

1,853 

 

 

1,564 

 

 

5,678 

 

 

4,680 

Total cost of revenue

 

 

7,461 

 

 

6,180 

 

 

24,726 

 

 

15,818 

Gross profit

 

 

13,162 

 

 

1,241 

 

 

18,964 

 

 

3,230 

Operating Expense:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

11,693 

 

 

10,419 

 

 

35,899 

 

 

34,084 

Sales, general and administrative

 

 

9,882 

 

 

10,757 

 

 

28,025 

 

 

29,685 

Total operating expense

 

 

21,575 

 

 

21,176 

 

 

63,924 

 

 

63,769 

Operating loss

 

 

(8,413)

 

 

(19,935)

 

 

(44,960)

 

 

(60,539)

Interest expense

 

 

(716)

 

 

(686)

 

 

(2,103)

 

 

(1,785)

Other income (expense), net

 

 

(34)

 

 

134 

 

 

(122)

 

 

262 

Net loss

 

 

(9,163)

 

 

(20,487)

 

 

(47,185)

 

 

(62,062)

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on investments

 

 

(19)

 

 

13 

 

 

 

 

(19)

Comprehensive loss

 

$

(9,182)

 

$

(20,474)

 

$

(47,176)

 

$

(62,081)

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net loss per share

 

$

(0.13)

 

$

(0.31)

 

$

(0.68)

 

$

(1.01)

Shares used in computing basic and diluted net loss per share

 

 

70,740 

 

 

65,523 

 

 

69,716 

 

 

61,636