PACB - PacBio beats on bottom line in Q3 even as net loss widens 8% YoY
- Although PacBio ( NASDAQ: PACB ) just beat on the bottom line in its Q3 2022 results, the biotech saw its net loss widen 8% to ~$77M compared to the year-ago period.
- Revenue of ~$32M, a ~7% year-over-year decline, was a miss.
- Total operating expenses of ~$88.3M in the quarter was a ~5% increase compared to Q3 2021.
- PacBio ( PACB ) ended the quarter with cash and cash equivalents of $834.3M, a 20% decline from Dec. 31, 2021.
- Read why Seeking Alpha contributor Stella Mwende considers PacBio ( PACB ) a hold.
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PacBio beats on bottom line in Q3 even as net loss widens 8% YoY