August 4, 2021 -- Pacific Biosciences of California (PacBio) announced that its revenues soared a whopping 79% in the second quarter of 2021, and it has acquired the high-molecular-weight (HMW) DNA extraction company Circulomics.
For this period (end-June 30, 2021), revenue for the second quarter of 2021 was $30.6 million compared to $17.1 million during the same quarter in 2020. Revenues partially grew due to the company placing more Sequel II/IIe systems in the second quarter of 2021 than it did in the previous year.
For the second quarter of 2021, instrument revenue 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 increased 108% for the second quarter of 2021 to $13.8 million. Profit was $6.6 million for the second quarter of 2020, according to the company.
In other news, the company has acquired Maryland-based Circulomics. The financial terms of the deal were not disclosed, and the impact of the acquisition is not expected to affect 2021.
Circulomics provides sample prep products that enable genomic workflows. The company's products are used for long-read applications across a diverse set of markets, including human biomedical research, plant and animal sciences, and microbiology.
The firm has expertise in extracting high-quality, HMW DNA from almost any sample type. HMW DNA ranges from 50 to 300-plus kilobases in length -- an ideal size for long-read sequencing with PacBio or other long-read sequencing platforms.
All customers will continue to receive Circulomics products and support.