Exhibit 99.2
PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(Unaudited)
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| Three-Month Periods Ended |
| Nine-Month Periods Ended | ||||||||
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| September 30, |
| September 30, | ||||||||
(in thousands, except per share amounts) |
| 2015 |
| 2014 |
| 2015 |
| 2014 | ||||
Revenue: |
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Product revenue |
| $ | 7,570 |
| $ | 6,762 |
| $ | 27,703 |
| $ | 22,376 |
Service and other revenue |
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| 2,751 |
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| 2,165 |
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| 8,010 |
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| 6,226 |
Contractual revenue |
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| 3,596 |
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| 11,696 |
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| 20,788 |
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| 15,088 |
Total revenue |
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| 13,917 |
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| 20,623 |
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| 56,501 |
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| 43,690 |
Cost of Revenue: |
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Cost of product revenue |
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| 5,119 |
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| 5,608 |
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| 23,289 |
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| 19,048 |
Cost of service and other revenue |
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| 2,247 |
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| 1,853 |
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| 6,228 |
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| 5,678 |
Total cost of revenue |
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| 7,366 |
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| 7,461 |
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| 29,517 |
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| 24,726 |
Gross profit |
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| 6,551 |
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| 13,162 |
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| 26,984 |
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| 18,964 |
Operating Expense: |
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Research and development |
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| 16,162 |
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| 11,693 |
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| 45,688 |
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| 35,899 |
Sales, general and administrative |
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| 10,818 |
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| 9,882 |
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| 32,411 |
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| 28,025 |
Gain on lease amendments |
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| (23,043) |
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| — |
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| (23,043) |
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| — |
Total operating expense |
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| 3,937 |
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| 21,575 |
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| 55,056 |
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| 63,924 |
Operating income (loss) |
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| 2,614 |
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| (8,413) |
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| (28,072) |
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| (44,960) |
Interest expense |
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| (741) |
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| (716) |
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| (2,153) |
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| (2,103) |
Other expense, net |
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| (52) |
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| (34) |
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| (62) |
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| (122) |
Net income (loss) |
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| 1,821 |
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| (9,163) |
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| (30,287) |
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| (47,185) |
Other comprehensive income (loss): |
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Unrealized gain (loss) on investments |
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| (6) |
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| (19) |
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| (3) |
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| 9 |
Comprehensive income (loss) |
| $ | 1,815 |
| $ | (9,182) |
| $ | (30,290) |
| $ | (47,176) |
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Net income (loss) per share: |
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Basic |
| $ | 0.02 |
| $ | (0.13) |
| $ | (0.41) |
| $ | (0.68) |
Diluted |
| $ | 0.02 |
| $ | (0.13) |
| $ | (0.41) |
| $ | (0.68) |
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Weighted average shares outstanding used in calculating net income (loss) per share |
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Basic |
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| 75,205 |
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| 70,740 |
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| 74,699 |
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| 69,716 |
Diluted |
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| 80,176 |
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| 70,740 |
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| 74,699 |
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| 69,716 |