PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Condensed Consolidated Balance Sheets
(Unaudited)
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| March 31, |
| December 31, | ||
(in thousands except par value amounts) | 2014 |
| 2013 | ||
Assets |
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Current assets |
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Cash and cash equivalents | $ | 41,261 |
| $ | 26,362 |
Investments |
| 77,475 |
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| 86,166 |
Accounts receivable |
| 3,383 |
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| 2,746 |
Inventory, net |
| 8,301 |
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| 10,050 |
Prepaid expenses and other current assets |
| 1,642 |
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| 1,135 |
Total current assets |
| 132,062 |
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| 126,459 |
Property and equipment, net |
| 8,492 |
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| 9,236 |
Other long-term assets |
| 486 |
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| 490 |
Total assets | $ | 141,040 |
| $ | 136,185 |
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Liabilities and Stockholders’ Equity |
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Current liabilities |
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Accounts payable | $ | 3,926 |
| $ | 1,717 |
Accrued expenses and other current liabilities |
| 7,678 |
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| 9,797 |
Deferred service revenue, current |
| 3,904 |
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| 4,046 |
Deferred contractual revenue, current |
| 6,785 |
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| 6,785 |
Facility financing obligation, current |
| 220 |
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| 210 |
Total current liabilities |
| 22,513 |
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| 22,555 |
Deferred service revenue, non-current |
| 918 |
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| 518 |
Deferred contractual revenue, non-current |
| 24,823 |
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| 26,519 |
Facility financing obligation, non-current |
| 2,345 |
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| 2,403 |
Deferred rent and other long-term liabilities |
| 842 |
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| 1,114 |
Notes payable |
| 13,525 |
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| 13,347 |
Financing derivative |
| 549 |
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| 549 |
Total liabilities |
| 65,515 |
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| 67,005 |
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Commitments and contingencies |
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Stockholders’ equity |
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Preferred Stock, $0.001 par value: |
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Authorized 50,000 shares; No shares issued or outstanding |
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| — |
Common Stock, $0.001 par value: |
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Authorized 1,000,000 shares; Issued and outstanding 70,472 shares at March 31, 2014 and 66,275 shares at December 31, 2013, respectively |
| 70 |
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| 66 |
Additional paid-in capital |
| 709,636 |
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| 684,413 |
Accumulated other comprehensive income |
| 18 |
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| 14 |
Accumulated deficit |
| (634,199) |
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| (615,313) |
Total stockholders’ equity |
| 75,525 |
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| 69,180 |
Total liabilities and stockholders’ equity | $ | 141,040 |
| $ | 136,185 |