10x Genomics (NASDAQ:TXG) Releases Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• 10x Genomics beat quarterly expectations, reporting adjusted EPS of ($0.15) versus the consensus estimate of ($0.27), and revenue of $150.7 million versus expectations of $148.0 million.
• The company raised its 2026 revenue outlook to $625 million–$635 million. Atera shipments began in September, with about 50 instruments now expected to ship by year-end, while spatial consumables revenue grew 16%.
• Instrument revenue fell 43%, and management expects gross margin to decline from 75% in the quarter to the low-to-mid 60% range in Q4 as Atera placements weigh on product mix.

10x Genomics (NASDAQ:TXG - Get Free Report) announced its earnings results on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.12, FiscalAI reports. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%. The business had revenue of $150.67 million for the quarter, compared to analysts' expectations of $147.96 million.

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

• Third-quarter revenue was $150.7 million, up 1% year over year, and 10X raised its 2026 revenue outlook to $625 million–$635 million. Excluding patent-litigation settlement revenue, the range implies 4%–6% growth over 2025.
• Atera commercial shipments began in September, and the company now expects to ship about 50 instruments by year-end, up from its prior estimate of 40. Management cited strong demand, while noting that production, installation, and customer training—not orders—are limiting the pace of rollout.
• Spatial consumables revenue grew 16%, with strong Xenium demand; management expects double-digit spatial consumables growth in Q4 as Atera consumables shipments begin. It said customer interest in Atera’s whole-transcriptome option has exceeded expectations.
• Instrument revenue fell 43% as sales of Chromium, Visium, and Xenium instruments declined, partly reflecting customers waiting for Atera. Gross margin was 75% in Q3, but management expects it to fall to the low-to-mid 60% range in Q4 and to be lower in 2027 as Atera placements make the mix more instrument-heavy.
• Single-cell reaction volumes grew at a double-digit rate, supported by Flex Apex adoption, but single-cell consumables revenue rose only 1%. Management said the lower price per reaction for Apex is weighing on revenue as customers shift toward the platform.

10x Genomics Stock Performance

Shares of TXG stock traded down $9.46 during trading hours on Thursday, reaching $58.06. The company had a trading volume of 5,954,404 shares, compared to its average volume of 3,028,884. The company has a market capitalization of $7.56 billion, a P/E ratio of -98.41 and a beta of 2.03. The stock's fifty day simple moving average is $74.19 and its 200 day simple moving average is $41.22. 10x Genomics has a twelve month low of $12.80 and a twelve month high of $102.81.

Insider Activity at 10x Genomics

In other news, Director Shehnaaz Suliman sold 5,723 shares of the company's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $81.19, for a total value of $464,650.37. Following the sale, the director owned 23,792 shares in the company, valued at approximately $1,931,672.48. This represents a 19.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin Hindson sold 13,818 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $63.02, for a total value of $870,810.36. Following the transaction, the insider owned 488,182 shares of the company's stock, valued at $30,765,229.64. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 179,333 shares of company stock worth $11,810,070. 8.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on TXG. Citigroup upped their price objective on shares of 10x Genomics from $45.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Barclays lifted their price objective on shares of 10x Genomics from $52.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Stifel Nicolaus set a $70.00 price target on 10x Genomics in a research note on Tuesday, October 13th. Piper Sandler increased their target price on shares of 10x Genomics from $47.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, September 28th. Finally, Argus began coverage on shares of 10x Genomics in a report on Monday, September 28th. They set a "buy" rating and a $110.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of "Hold" and a consensus target price of $68.00.

10x Genomics Company Profile

10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.

The company's product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.

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