PacBio's Revenue Surges in 2023, Driven by Revio and Onso

PacBio, a leading developer of high-quality, highly accurate sequencing solutions, has announced preliminary unaudited revenue for the fourth quarter and full year 2023, showcasing significant growth driven by the launch of the Revio system and Onso sequencer. The company's revenue for the fourth quarter of 2023 is expected to reach $58.4 million, representing a year-over-year increase of 113%, while full-year revenue is anticipated to be $200.5 million, up 56% from the previous year.

The Revio system, launched in 2023, has been a significant contributor to PacBio's growth. This scalable, accurate long-read sequencing platform has enabled researchers to sequence more samples with lower DNA input requirements and increased capacity, driving sample elasticity and attracting more customers to PacBio's platforms. The company shipped a record number of Revio systems in 2023, totaling 173 systems, and received orders from over 70 customers for its Kinnex RNA kits, enabling scalable, cost-effective full-length RNA sequencing on PacBio Revio and Sequel IIe systems.