10X Genomics is a biotechnology company that specializes in genomic analysis, providing tools and technologies for researchers in the life sciences sector
The company develops innovative products that enable high-resolution analysis of biological systems, allowing scientists to explore complex interactions at the single-cell level. By offering advanced sequencing and gene expression solutions, 10X Genomics supports a wide range of applications in genomics, transcriptomics, and immunology, aiming to accelerate the discovery of new insights into health and disease.
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Shares of biotech company 10x Genomics (NASDAQTXG)
fell 8.5% in the pre-market session after the company reported disappointing fourth-quarter results: its EPS missed significantly, and its full-year revenue guidance fell short of Wall Street's estimates. Revenue declined by 10% year on year, reflecting ongoing weakness in demand, particularly in instrument sales, though consumables performed better.
Despite the revenue decline, gross margins improved, benefiting from a more favorable product mix. However, operating expenses remained elevated, and the company posted a larger-than-expected net loss, driving the EPS miss. Overall, this was a softer quarter.
10x Genomics reported a Q4 EPS loss of $(0.40), missing estimates, while revenue declined 10% year over year. Analysts lowered price targets amid profitability concerns.
Biotech company 10x Genomics (NASDAQTXG) reported Q4 CY2024 results beating Wall Street’s revenue expectations, but sales fell by 10.3% year on year to $165 million. On the other hand, the company’s full-year revenue guidance of $620 million at the midpoint came in 1.6% below analysts’ estimates. Its GAAP loss of $0.40 per share was 34.4% below analysts’ consensus estimates.
10x Genomics reported Q3 2024 revenue of $151.7 million, down 1% from last year. Instruments revenue dropped 46%, while consumables grew 10%. CEO Serge Saxonov acknowledged the challenges faced but remains confident in future growth.
