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This statistic highlights Pacific Biosciences of California’s revenue by segment from Q1 2016 onwards, split between Product Identification, and Service and Other.
Pacific Biosciences of California dedicatedly works to prepare a Genomic analysis system that provides the genetic code of all living things with utmost accuracy and complete views. To discover more about molecular biology and empower scientists to improve the human condition, the founders of the company invented an ultimate way to study the synthesis and regulation of RNA, DNA and proteins.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Service and other||$3.33||$4.08||$4.39||12.58%|
(All figures in millions, except percentages)
Pacific biosciences majorly have two segments through which they pull out their revenue every year. These are the product identification segment and the services segment. Out of these two, product identification is the major source of revenue for the company. In Q3 2021, the company generated a revenue of $34.89 million in totality, which is 13.89% more than the previous quarter. In Q2 2021, the company earned a total revenue of $30.61 million. On a year-on-year basis, the revenue generated increased by 82.86%, from $19.08 million in Q3 2020 to $34.89 million in Q3 2021.
Product identification segment
In Q3 2021, the revenue from this segment amounted to $30.50 million. Being the largest revenue generating segment, this constituted 87.42% of the total revenue earned by the company in Q3 2021. In this quarter, this segment marked a growth of 14.96% on a quarter-on-quarter basis. The revenue generated grew from $26.53 million in Q2 2021 to $30.5 million in Q3 2021. In Q3 2020, the company earned a revenue of $15.75 million. On comparing the latest quarter, i.e, Q3 2021 with the same quarter of the previous year, i.e, Q3 2020, this segment marked a growth of 93.65% on a year-on-year basis.
Services and others
Apart from the product identification segment, the company sources its revenue from the services and other segment. In Q3 2021, the revenue from this segment amounted to $4.39 million. This accounted for 12.58% of the total revenue earned by the company in Q3 2021. Moreover, in this quarter, the company marked growth of 7.60% on a quarter-on-quarter basis, from $4.08 million in Q2 2021 to $4.39 million in Q3 2021. While comparing Q3 2021 with that of the previous year, i.e, Q3 2020, the company marked a growth of 31.83% on a year-on-year basis, growing from $3.33 million in Q3 2020 to $4.39 million in Q3 2021.
Formerly known as Nanofluidics, Inc., Pacific Biosciences of California was incorporated in the state of Delaware in 2000. Executive offices of the company are located at Menlo Park, California. Making use of advances in optics, nanofabrications, biochemistry, and more, the company developed SINGLE MOLECULE, REAL-TIME(SMRT) Sequencing technology.
Through real-time analysis of biomolecules with single-molecule resolution, this powerful technology transforms the interpretation and understanding of Biological systems. Rendering the most comprehensive view of transcriptomes, genomes, and epigenomes, including the full spectrum of variations of genetics, PacBio sequencing provides the longest average read lengths, of utmost consensus accuracy, and most uniform coverage of every sequencing Biotechnology in the market today. In efforts to improve the world’s food, energy supply, and diagnosis and treatment of diseases, Pacific biosciences are passionate about developing high-quality, innovative technologies and systems that impact critical areas. The company believes that its tools will lead to advances that will generate long-lasting benefits for the entire world and its future. The common stock of the company is publicly traded on the NASDAQ under the symbol “PACB” and is a component of the Russell 2000.
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