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This statistic highlights Pacific Biosciences’ Product Revenue Breakdown, split between Consumable and Instrument revenue, reported on a quarterly basis from 2016 onwards.
Pacific Biosciences of California involves the designing, developing, and manufacturing of sequencing systems that aid scientists and clinical researchers in resolving genetically complex problems. The company’s sequencing systems which comprise both consumables and softwares are known for providing simple as well as fast end-to-end workflow for SMRT (Single Molecule Real Time) sequencing.
|Revenue by Category||Q3 2020||Q2 2021||Q3 2021||Revenue Contribution in Q3 2021|
(All figures in millions, except percentages)
Based in California, Pacific Biosciences makes provision of sophisticated genomic analysis systems which deliver invaluable insights for scientists striving hard to resolve complex genetic challenges. Pacific Biosciences’ total revenue grew from $15.75 million in Q3 2020 to $30.51 million in Q3 2021, marking a 93.71% increase on a YoY basis.
Pacific Biosciences’ revenue is further bifurcated into the following segments:
Consumable Revenue refers to the earnings that come from the consumables sold by the company. Consumables are goods that must be replaced on a regular basis because they become used up, or worn out in a single, or very short number of uses. In the medical testing industry, these can be the DNA sequencing products that are offered by the company to medical labs all around the world.
Pacific Biosciences’ share of consumable revenue witnessed an increase from $8.02 million in Q3 2020 to $14.58 million in Q3 2021, on a YoY basis. This indicates an incline of 81.8% in the year 2021. The contribution of consumable revenue in the company’s total revenue (for the period Q3 2021), stood at 48.42%. In Q2 2021, the company made Consumable Revenue worth $12.25 million. In the same period, total revenue generated stood at $26.58 million.
Instrument Revenue refers to the revenue that is generated by the supply of instruments and softwares in the medical testing industry. Instruments refer to the tools or devices used for a particular kind of work, that are not easily worn out. Pacific Biosciences supplies various testing instruments and softwares to labs around the world.
Pacific Biosciences’ share of instrument revenue recorded an incline from $7.73 million in Q3 2020 to $15.93 million in Q3 2021. The contribution of instrument revenue in the total revenue for the period Q3 2021 stands at 52.21%. In Q2 2021, the revenue generated from this segment stood at $14.28 million. Overall, both segments- Consumable and Instrument Revenue, contribute an almost equal share of earnings for Pacific Biosciences.
Founded in 2004, Pacific Biosciences of California harnesses advances in biochemistry, optics, nanofabrication, and much more. This company is known for developing SMRT (Single Molecule Real Time) testing technology. This powerful technology works by transforming the understanding of biological systems by enabling real-time analysis of biomolecules with single-molecule resolution.
The company works in developing a real-time sequencing system that not only monitors but also analyzes single molecule biochemical reactions for the healthcare industry. The list of Pacific Biosciences’ top competitors comprises leading companies like Thermo Fisher Scientific, Qiagen, Oxford Nanopore Technologies, Illumina, Personalis, Roche, and BGI Genomics. This leading company in the diagnostic and research industry is passionate about developing high-quality and innovative technologies that impact areas of critical importance, including the diagnosis and treatment of disease and efforts to enhance the world’s food as well as energy supply. The company received the Technology Pioneer Award from the esteemed World Economic Forum in the year 2009.
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