10x Genomics, Inc. TXG reported a loss for the third quarter on Tuesday. The company posted a quarterly loss of 30 cents per share, compared to market expectations for a loss of 34 cents per share. The company reported quarterly sales of $151.654 million which missed the analyst consensus estimate of $158.632 million. "Our results this quarter fell short of our expectations given greater-than-anticipated disruption from the sales restructuring we implemented in the quarter and cautious customer spending. As ...

Financial Data and Key Metrics - Revenue for Q3 2024 declined 1% YoY to $151.7 million, driven by weaker instrument sales, particularly Xenium instruments, offset by stronger consumables revenue [5][31] - Full-year revenue guidance revised to $595 million to $605 million, representing a 3% decline from 2023 at the midpoint [5][39] - Gross margin increased to 70% from 62% YoY, driven by a shift in product mix with fewer Xenium instruments sold [35] - Operating loss for Q3 was $41.5 million, compared to a loss of $94.8 million in Q3 2023, which included $41.4 million in R&D expenses [38] - Cash and cash equivalents at the end of Q3 stood at $398.2 million [38] Business Line Performance - Chromium consumables revenue declined 4% YoY to $96.5 million, driven by lower average prices offset by higher volumes [32] - Spatial consumables revenue grew 111% YoY to $29.7 million, driven by demand for Visium HD and Xenium 5K [32] - Chromium instrument revenue declined 38% YoY to $7.6 million, while spatial instrument revenue fell 50% YoY to $11.4 million [33] - Services revenue increased 48% YoY to $6.4 million [33] Geographic Performance - Americas revenue declined 11% YoY to $87.8 million, impacted by the commercial restructuring [34] - EMEA revenue grew 18% YoY to $37.9 million, while APAC revenue increased 15% YoY to $26 million [34] Company Strategy and Industry Competition - The company is focusing on democratizing single-cell and spatial technologies by lowering price points, enhancing ease of use, and advancing product capabilities [7][8] - New product launches, such as GEM-X Flex and Chromium Xo, aim to reduce cost per cell and sample, making single-cell analysis more accessible [14][15] - The company is restructuring its commercial organization to better serve diverse customer segments, including academic and biopharma markets [10][11] - Despite challenges, the company believes it is well-positioned to lead in single-cell and spatial biology, with significant opportunities in translational research and drug development [27][28] Management Commentary on Operating Environment and Future Outlook - Management acknowledged a challenging macro environment, with cautious customer spending impacting capital purchases and larger consumables projects [5][40] - The company expects ongoing headwinds from the commercial restructuring and does not anticipate typical Q4 seasonality [40] - Management remains confident in the long-term potential of single-cell and spatial biology, with a focus on disciplined investment and cash management [9][41] Other Important Information - The company launched GEM-X Flex, reducing the cost per cell to less than $0.01, a five-fold reduction compared to previous products [14] - Chromium Xo, priced at $25,000, is the company's most affordable single-cell instrument, aimed at expanding market access [15] - The company introduced new software capabilities, such as automated cell annotation, to enhance data analysis and ease of use [19] Q&A Session Summary Question: Impact of Commercial Restructuring and Gross Margin Dynamics [45] - The company attributed half of the Q4 guidance revision to the macro environment and half to the commercial restructuring [46] - New products like GEM-X Flex and Universal Multiplex have comparable gross margins to existing consumables, supporting the company's strategy to democratize single-cell analysis [48] Question: Instrument Sales and Pricing Strategy [49] - Xenium instruments were particularly affected by the macro environment, with cautious customer spending impacting sales [50] - The company is confident in the elasticity of demand for its products, with evidence of volume growth following price reductions [52][53] Question: Progress and Metrics for Improvement [55] - Management acknowledged the challenges of 2024 but expressed confidence in the commercial restructuring, with improvements expected by mid-2025 [56][58] Question: Commercial Fixes and Timeline [60] - Filling open sales roles and implementing new processes are key priorities, with full benefits expected by mid-2025 [61][62] Question: Pricing in Single-Cell Market [64] - The company has reduced price per cell and sample through new product launches, aiming to drive market expansion [66][67] - Competition remains intense, but the company believes its product quality and pricing strategy will sustain growth [68][69] Question: Chromium Product Transition and Revenue Impact [71] - The company expects a three to four-quarter lag before volume growth offsets price reductions, with potential headwinds in the near term [72] Question: Sales Force and Xenium Installations [74] - The company is working to fill open sales roles, with normalization expected in six to nine months [74] - Xenium installations were impacted by the macro environment and commercial restructuring, but underlying demand remains strong [75][76] Question: Spatial Consumables Growth [78] - Spatial consumables revenue grew sequentially, with strong utilization trends for Xenium and Visium HD [79][91] Question: Commercial Restructuring Timeline and Macro Impact [81] - The company expects the commercial restructuring to yield benefits by mid-2025, with macro conditions assumed to remain challenging [82] Question: Expense Management and Competitive Landscape [84] - The company is balancing hiring with disciplined spending, aiming for a more efficient commercial structure [85] - Competition in single-cell remains aggressive, but the company believes its product leadership will sustain growth [86] Question: Spatial Consumables Trends [88] - Spatial consumables growth was impacted by product launches and commercial restructuring, but underlying demand remains robust [90][91] Question: Single-Cell Volume Growth [98] - Single-cell volume growth has been positive, with new products enabling higher throughput and robust cell analysis growth [100] Question: Sales Force Morale and Productivity [102] - The company is confident in its sales team's ability to adapt to the new structure, with full productivity expected by mid-2025 [103][104]

10x Genomics (TXG) reported $151.65 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 1.3%. EPS of -$0.30 for the same period compares to -$0.51 a year ago. The reported revenue represents a surprise of +0.02% over the Zacks Consensus Estimate of $151.62 million. With the consensus EPS estimate being -$0.34, the EPS surprise was +11.76%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

10x Genomics (TXG) came out with a quarterly loss of $0.30 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to loss of $0.51 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 11.76%. A quarter ago, it was expected that this life science technology company would post a loss of $0.47 per share when it actually produced a loss of $0.32, delivering a surprise of 31.91%. Over the last four quarters, th ...

| --- | --- | |--------------------------------------------------------------------------|-------| | | | | | | | | | | Overview of New Chromium Product Launches | | | | | | 10x Genomics Q3 2024 Earnings – Supplemental Materials October 29, 2024 | | Introducing New Chromium Single Cell Product Families New naming convention for our products Universal Assays Universal 3' Gene Expression Formerly Single Cell Gene Expression Universal 5' Gene Expression Formerly Single Cell Immune Profiling Epi Assays Epi Multi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-Q _____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-39035 | --- | --- | |---------------- ...

PLEASANTON, Calif., Oct. 29, 2024 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today reported financial results for the third quarter ended September 30, 2024. Recent Highlights Revenue was $151.7 million for the third quarter, in line with the company's preliminary announcement, a 1% decrease over the corresponding period of 2023, primarily driven by lower instrument revenue, offset by stronger contributions from consumables. Began shipping GEM-X Flex, sett ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ Title of each class Trading Symbol Name of each exchange on which registered Class A common stock, par value $0.00001 per share TXG The Nasdaq Stock Market LLC FORM 8-K ______________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 9, 2024 10x Genomics, Inc. (Exact name of registrant as specified in its charter) ...

10x Genomics (TXG) is scheduled to report third-quarter 2024 results on Oct. 29, before market open. In the last reported quarter, the company's adjusted loss per share of 32 cents beat the Zacks Consensus Estimate by 31.9%. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Let's take a look at how things might have shaped up for GEHC prior to the announcement. Factors at Play 10x Genomics' top line is primarily driven by its two leading platforms — Visium and Zenium — in spatial bio ...

10x Genomics (TXG) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Indivi ...