10X Genomics Q1 revenue falls but beats estimates

10X Genomics

07/05/2026 21:24

Overview

US single cell biology firm's Q1 revenue fell 3% yr/yr but beat analyst expectations

Net loss narrowed to $13.5 mln from $34.4 mln a year earlier

Company launched Atera platform and maintained full-year revenue guidance

Outlook

10x Genomics maintains 2026 revenue guidance of $600 mln to $625 mln

Company expects to start shipping Atera platform in second half of 2026

2026 revenue guidance implies 0% to 4% growth over 2025, excluding non-recurring revenue

Result Drivers

CONSUMABLES GROWTH - Double-digit growth in Single Cell and Spatial consumables volumes drove underlying revenue increase, per CEO Serge Saxonov

GROSS MARGIN IMPROVEMENT - Gross margin rose to 70% from 68% due to lower warranty costs and inventory write-downs

LOWER OPERATING EXPENSES - Operating expenses fell 15% yr/yr, mainly due to reduced legal and personnel costs

Company press release: ID:nPn8cWJYSa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$150.80 mln
$146.36 mln (15 Analysts)
Q1 Net Income
-$13.50 mln
Q1 Gross Margin
70.00%
Q1 Operating Income
-$17 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 12 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

Wall Street's median 12-month price target for 10X Genomics Inc is $22.00, about 3.3% below its May 6 closing price of $22.74

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)