PACIFIC BIOSCIENCES OF CALIFORNIA, INC.PACB

PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Segments Disclosure

10-KFiled Feb 25, 20262 min read
NOTE 11. SEGMENT AND GEOGRAPHIC INFORMATION
We are organized as, and operate in, one reportable segment: the development, manufacturing, and marketing of integrated platforms for genetic analysis. Our chief operating decision-maker ("CODM") is our Chief Executive Officer. Our CODM reviews financial information presented on a consolidated basis for the purposes of evaluating financial performance and allocating resources.
On a regular basis, our CODM reviews:
•total revenues by category
•total expenses and expenses by function, including sales and marketing and general and administrative, which include depreciation and share-based compensation
•net loss per share
Our assets are primarily located in the United States of America and not allocated to any specific region, and we do not measure the performance of geographic regions based upon asset-based metrics. Therefore, geographic information is presented only for revenue.
A summary of the segment profit or loss, including significant segment expenses is as follows:
Years Ended December 31,
(In thousands)
202520242023
Total revenue160,005 154,014 200,521 
Less:
Cost of revenue114,225 116,732 147,741 
Research and development97,307 134,922 187,170 
Sales and marketing72,972 87,244 79,287 
General and administrative68,521 87,773 90,531 
Impairment charges15,000 184,500 — 
Merger-related expenses— — 9,042 
Change in fair value of contingent consideration(18,700)(850)15,060 
Amortization of acquired intangible assets364,541 18,006 6,157 
Loss on extinguishment of debt— — 2,033 
Gain on debt restructuring— (154,407)— 
Other income, net7,803 10,371 18,341 
Income tax provision (benefit)318 316 (11,424)
Consolidated net loss(546,376)(309,851)(306,735)
A summary of our revenue by geographic location is as follows:
Years Ended December 31,
(In thousands)202520242023
Americas (1)
$72,798 $78,711 $105,410 
Europe, Middle East, and Africa44,051 34,594 40,658 
Asia-Pacific43,156 40,709 54,453 
Total revenue$160,005 $154,014 $200,521 
(1)     Includes United States revenue of $69.7 million, $75.3 million, and $100.5 million for the years ended December 31, 2025, 2024, and 2023, respectively.
A summary of our revenue by category is as follows:
 Years Ended December 31,
(In thousands)202520242023
Instrument revenue$53,819 $65,776 $120,451 
Consumables revenue81,939 70,373 63,421 
Product revenue135,758 136,149 183,872 
Service and other revenue24,247 17,865 16,649 
Total revenue$160,005 $154,014 $200,521 

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Mar 17, 2025
2023Feb 28, 2024
2022Feb 28, 2023
2021Feb 28, 2022
2020Feb 26, 2021
2019Feb 28, 2020
2018Feb 26, 2019
2017Feb 26, 2018
2016Mar 6, 2017
2015Mar 11, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueEarnings Per SharePP&EDebtCommitmentsNew Standards