Pacific Biosciences of California, Inc. (PACB Quick QuotePACB - Free Report) , popularly known as PacBio, delivered an adjusted loss per share of 12 cents in first-quarter 2026, narrower than the year-ago adjusted loss of 15 cents per share. The adjusted loss per share topped the Zacks Consensus Estimate by 29.4%.

The company’s GAAP loss per share was 3 cents in the quarter compared with the year-ago period’s loss of $1.44.

PacBio’s Revenues in Detail

PacBio registered total revenues of $37.2 million in the first quarter, flat year over year. The figure missed the Zacks Consensus Estimate by 9.3%.

Shares of the company lost around 4% in yesterday’s trading session.

PACB’s Geographical Analysis

PacBio’s revenues from the Americas were $16.7 million, up 2%year over year.

In the Asia-Pacific region, PacBio recorded revenues of $9.7 million, reflecting a 16% decrease year over year.

The Europe, the Middle East and Africa (EMEA) region registered revenues of $10.8 million, which improved 17% year over year.

PacBio’s Segmental Analysis

Total Product revenues amounted to $31.5 million, up 1.4% from the year-ago quarter.

Within the Product segment, Instrument revenues were $9.7 million, down 12% year over year.Instrument revenues in the first quarter of 2026 included 15 Revio sequencing systems and 27 Vega sequencing systems.

PACB ended the quarter with 346 cumulative Revio system shipments and 174 cumulative Vega system shipments.

Consumables revenues for the first quarter of 2026 were $21.8 million, up 9% from the prior-year quarter. AnnualizedRevio pull-through per system was $229,000 in the quarter.

Service and other revenues totaled $5.6million, down 6.6% year over year.

Pacific Biosciences of California, Inc. Price, Consensus and EPS Surprise

Pacific Biosciences of California, Inc. price-consensus-eps-surprise-chart | Pacific Biosciences of California, Inc. Quote

PACB’s Margin Trend

In the quarter under review, PacBio’s adjusted gross profit decreased 8% year over year to $13.8 million. The adjusted gross margin contracted 300 basis points to 37%.

Sales, general and administrative expenses declined 22.5% year over year to $31.2 million. Research and development expenses decreased 32.5% year over year to $19.6 million. Adjusted total operating expenses of $49.9 million decreased 19.1% year over year.

Total operating loss was $8.4 million in the reported quarter compared with the prior-year quarter’s $428.9 million.

PacBio’s Financial Position

PacBio exited the first quarter of 2026 with cash and investmentsof $275.9million compared with $279.5million at the end of the fourth quarter of 2025.

PACB’s 2026 Guidance

PacBio has updated its revenue outlook for 2026.

Management now expects 2026 revenues to grow in the range of 3%-9% year over year to $165-175 million compared with the earlier guidance of $165-180 million.The Zacks Consensus Estimate is pegged at $175.4 million.

Our Take

PacBio exited the first quarter of 2026 with mixed results, wherein earnings beat the Zacks Consensus Estimate while revenues missed the same. Stable top-line performance, despite softer instrument sales, reflected continued strength in consumables demand and improving utilization trends across the installed base. Growth in consumables revenues, expansion across the EMEA region and disciplined expense management were encouraging. The company also reported a significantly narrower operating loss year over year, supported by lower operating expenses and continued restructuring benefits.

During the quarter, PacBio continued strengthening its long-read sequencing franchise through a series of strategic commercial and technology initiatives. The company was selected by Basecamp Research to support its Trillion Gene Atlas project, expected to deeply sequence nearly 100,000 samples globally, while a new collaboration with DNAstack aims to build the first federated HiFi whole genome dataset. PacBio also expanded its SPRQ-Nx beta program following positive customer feedback and broadened its ecosystem partnerships through an agreement with Lucid Genomics for tertiary analysis compatibility. Complementing these growth initiatives, the company completed the sale of its short-read sequencing assets for net cash proceeds of approximately $48.1 million, further strengthening the balance sheet and extending its cash runway.

PacBio’s Zacks Rank and Stocks to Consider

PACB currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space that are expected to report earnings soon are DexCom, Inc. (DXCM Quick QuoteDXCM - Free Report) , Encompass Health Corporation (EHC Quick QuoteEHC - Free Report) and The Cooper Companies, Inc. (COO Quick QuoteCOO - Free Report) .

The Zacks Consensus Estimate for DexCom’s first-quarter 2026 adjusted earnings per share (EPS) is currently pegged at 47 cents. The consensus estimate for revenues is pegged at $1.18 billion. DXCM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DexCom has an estimated long-term growth rate of 20.6%. DXCM’s earnings yield of 4.1% compares favorably with the industry’s negative yield.

Encompass Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.51. The same for revenues is pegged at $1.57 billion.

Encompass Health has an estimated long-term growth rate of 8.8%. EHC’s earnings yield of 5.9% compares favorably with the industry’s 5.6%.

Cooper Companies currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its second-quarter fiscal 2026 adjusted EPS is currently pegged at $1.10. The same for its revenues is pegged at $1.05 billion.

Cooper Companies has an estimated long-term growth rate of 8.4%. COO’s earnings yield of 7.2% compares favorably with the industry’s 6.1%.