Pacific Biosciences of California (PACB) reported preliminary Q1 revenue of $36.9 million, down from $38.8 million a year earlier.
Analysts polled by FactSet expect $33.3 million.
The company said it expects 2025 revenue of between $155 million and $170 million.
Analysts surveyed by FactSet expect $160.9 million.
The company also said it plans to reduce staff and other costs to bring annualized non-GAAP operating expenses $45 million to $50 million below prior guidance of $270 million to $280 million.
Pacific plans to hold its Q1 earnings call on May 8, the company said.
Shares of the company were up more than 14% in recent Wednesday trading.
Price: 1.38, Change: +0.18, Percent Change: +14.58
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