10x Genomics (NASDAQ:TXG) Issues Earnings Results

Key Points

• 10x Genomics beat expectations — reported a narrower-than-expected loss of ($0.10) vs. consensus ($0.29) and revenue of $150.8M (beat $146.4M), with revenue up ~9.4% YoY, gross margin at 70%, cash of $540M, and consumables revenue rising ~13% (spatial +31%).
• Atera launch is a major strategic catalyst but creates near-term headwinds — Atera has strong early demand and pre-orders but initial shipments are slated for H2 2026 with limited 2026 capacity (~40 units), which has led customers to delay instrument purchases and contributed to a material drop in instrument revenue (total -24%, spatial -32%) and an expected Q2 sequential step-down.

10x Genomics (NASDAQ:TXG - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.19, FiscalAI reports. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm had revenue of $150.84 million during the quarter, compared to analysts' expectations of $146.41 million. During the same quarter last year, the company posted ($0.28) EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year.

Here are the key takeaways from 10x Genomics' conference call:

• Atera launch is the company's largest product introduction, enabling spatial whole-transcriptome with single-cell sensitivity at scale and generating "extraordinary" early customer interest and pre-orders ahead of initial H2 2026 shipments.
• Consumables and margins showed strength in Q1 — revenue was $150.8M (up ~9% YoY excluding a one-time settlement), total consumables +13% (spatial consumables +31%), gross margin 70%, and cash balance of $540M (+$113M YoY).
• Instrument revenue declined materially (total instruments -24%, spatial instruments -32%), and management expects a Q2 sequential step-down as some customers delay purchases waiting for Atera; Atera production capacity will be limited in 2026 with roughly ~40 units expected between Q3–Q4.
• Company is positioning for a structural AI and translational tailwind — multiple partnerships and initiatives (e.g., Chan Zuckerberg, Bioptimus) aim to scale biological data generation, expanding the long-term TAM but with uncertain near-term revenue timing.

10x Genomics Stock Performance

TXG opened at $22.42 on Friday. The company has a fifty day moving average price of $21.53 and a two-hundred day moving average price of $18.96. 10x Genomics has a 52 week low of $8.06 and a 52 week high of $26.44. The firm has a market capitalization of $2.86 billion, a PE ratio of -64.06 and a beta of 2.05.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TXG. Zacks Research upgraded shares of 10x Genomics from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a "hold" rating in a report on Friday, February 13th. TD Cowen upped their price objective on 10x Genomics from $18.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Leerink Partners decreased their price objective on 10x Genomics from $22.00 to $20.00 and set a "market perform" rating on the stock in a research report on Tuesday, January 27th. Finally, Citigroup lifted their target price on 10x Genomics from $18.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, 10x Genomics has a consensus rating of "Hold" and a consensus price target of $20.82.

Insider Activity

In other news, insider Benjamin J. Hindson sold 7,826 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the transaction, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam Taich sold 8,968 shares of 10x Genomics stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $166,625.44. Following the sale, the chief financial officer directly owned 288,417 shares of the company's stock, valued at approximately $5,358,787.86. This trade represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,426 shares of company stock valued at $902,695 in the last 90 days. 8.84% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. &PARTNERS acquired a new stake in 10x Genomics in the fourth quarter worth $218,000. State of Wyoming bought a new position in shares of 10x Genomics during the fourth quarter worth $225,000. Orion Porfolio Solutions LLC acquired a new position in shares of 10x Genomics in the 2nd quarter valued at $158,000. Vident Advisory LLC acquired a new position in shares of 10x Genomics in the 2nd quarter valued at $162,000. Finally, HUB Investment Partners LLC bought a new stake in shares of 10x Genomics in the 2nd quarter valued at $152,000. 84.68% of the stock is owned by institutional investors.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.