Pacific Biosciences of California, Inc. (NASDAQ:PACB) Q3 2023 Earnings Call Transcript

What you’ll see from us is actually Revio will, over time, be able to deliver more throughput per SMRT Cell. And as we do that, we’ll have opportunities to either — we’ll be able to effectively lower the price per base or per G, so to speak. And so you’ll get to see that from that perspective. And then the applications are critical. Some of these things that we’re launching right now, we’ve had in the works for a while. And next year, you’re going to continue to see in the first half of the year, more applications being launched on the system. And all of this is geared towards driving more utilization of the systems. I thought — I spent a lot of time in my prepared remarks today talking about the end-to-end workflow and improving the sample preparation, talking about next year using circulomics to improve our workflow as well.

And so we’re doing all of these things to drive that consumable pull-through. The sample prep revenue will grow as well, but it’s really all about driving that consumable pull-through and then selling new systems. And so we’re looking forward to talking about 2024 when we get there, we still have to wrap up 2023 strong. But right now, we’re very proud of what we’ve done in the first three quarters. We’re looking towards growth that’s above our long-term guidance, north of 50%. We’re perhaps one of the fastest-growing companies in our peer group, which is exciting. Competitively the products are very competitive. We’ve been able to execute on delivering those products. And as we kind of move forward to close out this year strong, we’re really looking forward to another great year for the company.

So we appreciate everyone’s support.

Todd Friedman: All right. That wraps it up. Thank you, everybody, for all the questions today, and thanks for joining us. We look forward to connecting with many of you this quarter at the various conferences and updating you as we move into 2024. Thank you.

Operator: Ladies and gentlemen, the conference has now concluded. We thank you for joining today’s presentation. You may now disconnect your lines.