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BD PACBIOⓇ Pacific Biosciences of California , Inc. Announces Second Quarter 2021 Financial Results August 3 , 2021 MENLO PARK , Calif . , Aug. 03 , 2021 ( GLOBE NEWSWIRE ) -- Pacific Biosciences of California , Inc. ( NASDAQ : PACB ) today announced financial results for the quarter ended June 30 , 2021 . Record second quarter revenue reflects continued quarter - over - quarter growth Revenue for the second quarter of 2021 was $ 30.6 million , representing an 79 % increase compared with $ 17.1 million for the second quarter of 2020 . The Company placed 38 Sequel II / Ile systems during the second quarter of 2021 compared to 23 Sequel II systems placed in the second quarter of 2020 and 41 Sequel II / Ile systems placed during the first quarter of 2021 , bringing the total installed base of Sequel II / Ile systems to 282 as of June 30 , 2021 , compared with 148 as of June 30 , 2020 and 244 as of March 31 , 2021. Instrument revenue for the second quarter of 2021 was $ 14.3 million , compared with $ 8.9 million for the second quarter of 2020. Consumables revenue for the second quarter of 2021 was $ 12.2 million compared with $ 4.8 million for the second quarter of 2020. Service and other revenue for the second quarter of 2021 was $ 4.1 million compared with $ 3.3 million for the second quarter of 2020 . Gross profit for the second quarter of 2021 was $ 13.8 million , representing a 108 % increase compared with $ 6.6 million for the second quarter of 2020. Gross margin for the second quarter of 2021 was 45 % , compared to 39 % for the second quarter of 2020 . Operating expenses totaled $ 51.3 million for the second quarter of 2021 , compared to $ 30.1 million for the second quarter of 2020. Operating expenses for the second quarter of 2021 and the second quarter of 2020 included non - cash stock - based compensation of $ 13.9 million and $ 2.8 million , respectively . Net loss for the second quarter of 2021 was $ 41.0 million , compared to a net loss of $ 23.1 million for the second quarter of 2020 . Basic and diluted net loss for the second quarter of 2021 was $ 0.21 per share compared to basic and diluted net loss of $ 0.15 per share for the second quarter of 2020 . Cash , cash equivalents and investments , excluding short and long - term restricted cash , at June 30 , 2021 totaled $ 1,144.4 million , compared to $ 318.8 million at December 31 , 2020 . Updates since our last earnings release • Signed definitive agreement to acquire Omniome , Inc. ( Omniome ) , a San Diego - based company developing a highly differentiated , proprietary short - read sequencing platform capable of delivering high accuracy . • Announced intent to expand collaboration with Invitae Corporation ( Invitae ) to include Omniome's technology enabled by Sequencing by Binding ( SBB ) chemistry upon close of our proposed acquisition . • Entered into a definitive agreement to raise $ 300 million in a private placement transaction from a premier syndicate of life sciences investors upon closing the Omniome acquisition . • Acquired Circulomics Inc ( Circulomics ) , a leader in high molecular weight DNA extraction to enable path toward an end - to - end automated workflow . • Collaborated with Rady Children's Institute for Genomic Medicine on a study aiming to identify potential disease - causing genetic variants and increase the solve rates of rare diseases using HiFi Sequencing . • Strengthened our leadership team with the addition of Dr. Catherine Ball as Senior Vice President of Research , Neil Ward as Vice President and General Manager for Europe , Middle East , and Africa , Michele Farmer as Chief Accounting Officer , and Kathy Lynch as Head of Global Government Affairs and Corporate Communications . " We delivered another record quarter in Q2 , and since the second quarter of last year , we've nearly doubled our Sequel II installed base , " said Christian Henry , President and Chief Executive Officer . " We're making great progress in scaling our business with our agreement to acquire Omniome and the acquisition of Circulomics . These acquisitions will help us achieve our mission to enable the promise of genomics to better human health . ” Impact of COVID - 19 Pandemic Financial results for the second quarter of 2020 were negatively impacted as multiple customers postponed system deliveries , and the financial results for much of 2020 were further impacted as several customers shut down or limited operations for various periods to help curb the spread of the COVID - 19 pandemic . Instrument utilization largely returned to normal by the fourth quarter of 2020 , and we subsequently have not seen significant issues with deliveries or operations at customer sites . This resulted in higher product revenues of $ 26.5 million for the second quarter of 2021 compared to $ 13.8 million for the same period of 2020. Uncertainties associated with the pandemic , including recent resurgences in infection rates , may cause further impacts to our operations and financial results . Quarterly Conference Call Information