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Pacific Biosciences of California cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$38.6M in Q3 2026 · −$143M over twelve months

Operating cash flow−$37.6M
Capital spending−$988K
Free cash flow−$38.6M
Cash conversion cycle234 days

Analysis

In Q3 2026, Pacific Biosciences of California generated −$37.6M of operating cash flow and spent $988K on capital projects, leaving free cash flow of −$38.6M. That is $20.0M less than in Q3 2025 (−$18.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$137M; the largest uses were operating cash flow ($137M), capital spending ($6.4M); besides operations, cash came from other investing ($140M), shares issued ($3.1M); the cash balance fell by $730K.

Operating cash flow was −$37.6M against net income of −$37.8M. The largest differences: stock-based pay +$8.5M, payables −$8.2M, receivables −$7.2M.

Its cash conversion cycle was 234 days (receivables 79 + inventory 206 − payables 51).

Free cash flow

Pacific Biosciences of California: free cash flow by quarterPacific Biosciences of California: free cash flow by quarter−$32.3MQ4 2024−$45.4MQ1 2025−$29.9MQ2 2025−$18.6MQ3 2025−$19.9MQ4 2025−$47.7MQ1 2026−$37.1MQ2 2026−$38.6MQ3 2026
Operating cash flow less capital spending.
Pacific Biosciences of California: operating cash flow against capital spendingPacific Biosciences of California: operating cash flow against capital spendingOperating cash flowCapital spending−$30.6M$1.6MQ4 2024−$44.1M$1.4MQ1 2025−$29.4M$550KQ2 2025−$18.7M−$86KQ3 2025−$19.1M$861KQ4 2025−$44.7M$3.0MQ1 2026−$35.6M$1.6MQ2 2026−$37.6M$988KQ3 2026
Latest (Q3 2026): Operating cash flow −$37.6M, Capital spending $988K.

Capital allocation, year by year

Pacific Biosciences of California: where the cash came from (up) and went (down), by fiscal yearPacific Biosciences of California: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$111MFY2021: Net borrowing $895MFY2021: Shares issued $31.8MFY2021: Capital spending −$5.9M$927MFY2021FY2022: Operating cash flow −$263MFY2022: Net borrowing −$1.6MFY2022: Shares issued $11.2MFY2022: Capital spending −$16.8M$11.2MFY2022FY2023: Operating cash flow −$259MFY2023: Net borrowing −$1.8MFY2023: Shares issued $205MFY2023: Capital spending −$8.8MFY2023: Acquisitions −$102K$205MFY2023FY2024: Operating cash flow −$206MFY2024: Net borrowing −$490KFY2024: Shares issued $7.7MFY2024: Capital spending −$6.2M$7.7MFY2024FY2025: Operating cash flow −$111MFY2025: Shares issued $3.4MFY2025: Capital spending −$2.7M$3.4MFY2025
Over these 5 years operating cash flow totalled −$951M; the largest uses were operating cash flow ($951M) and capital spending ($40.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$199M
Debtnone
Net cash$199M
Cash runway17 months

Pacific Biosciences of California is burning cash: its operations consume cash, a free cash flow of −$143M a year at the current rate against $199M of cash and investments: a runway of about 17 months before any new financing.

Where the cash came from and went

Pacific Biosciences of California: sources (+) and uses (−) of cash, Q3 2026Pacific Biosciences of California: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$37.6MOther investing$32.1MCash drawn (+) / kept (−)$5.0MShares issued$1.5MCapital spending−$988K
Pacific Biosciences of California: sources (+) and uses (−) of cash, TTM to Q3 2026Pacific Biosciences of California: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$140MOperating cash flow−$137MCapital spending−$6.4MShares issued$3.1MCash drawn (+) / kept (−)$730K

From profit to cash

Pacific Biosciences of California: net income to operating cash flow, Q3 2026Pacific Biosciences of California: net income to operating cash flow, Q3 2026Net income−$37.8MDepreciation & amortization$2.5MStock-based pay$8.5MOther non-cash$356KReceivables−$7.2MInventory−$1.4MPayables−$8.2MAccrued liabilities$1.9MDeferred revenue$2.1MPrepaid and other assets−$326KOther liabilities$861KOperating cash flow−$37.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20267920651234
Q2 20267119357207
Q1 20267818564200
Q4 20256816861175
Q3 20257521864229
Q2 20257319653216
Q1 20257213236168
Q4 20246719645218

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$37.6M−$988K$1.5M$5.0M−$38.6M
Q2 2026−$35.6M−$1.6M$255K−$4.7M−$37.1M
Q1 2026−$44.7M−$3.0M$1.4M$7.4M−$47.7M
Q4 2025−$19.1M−$861K—−$7.0M−$19.9M
Q3 2025−$18.7M$86K$1.5M−$1.7M−$18.6M
Q2 2025−$29.4M−$550K—$4.1M−$29.9M
Q1 2025−$44.1M−$1.4M$2.0M−$3.1M−$45.4M
Q4 2024−$30.6M−$1.6M—$22.6M−$32.3M

Pacific Biosciences of California: income statement and cash flow

Pacific Biosciences of California, Q3 2026: revenue $40.6M (+6% year over year), operating margin -91.2%. The chart follows the revenue to costs, profit and cash.

Pacific Biosciences of California: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.