10x Genomics Q2 revenue rises on Atera demand

10x Genomics

06/08/2026 21:22

Overview
US life science tools firm's Q2 revenue rose 3% yr/yr, beating analyst expectations
Company posted Q2 net loss as operating expenses rose on lower settlement gains
10x Genomics raised full-year revenue guidance and completed Proteintech Genomics acquisition

Outlook
10x Genomics raises 2026 revenue guidance to $610 mln-$630 mln, from $600 mln-$625 mln
Company expects 2026 revenue growth of 2%-5% over 2025, excluding settlement revenue

Result Drivers
ATERA DEMAND - Co cited strong early order flow and customer engagement for its Atera product as a key driver in the quarter, per CEO Serge Saxonov
GROSS MARGIN IMPROVEMENT - Co said higher gross margin was due to lower manufacturing costs, including $2.6 mln in tariff refunds, and reduced inventory write-downs
SETTLEMENT IMPACT - Higher operating expenses were mainly due to a lower gain on settlement versus the prior year; underlying operating expenses were flat yr/yr

Company press release: ID:nPn5PPLZla

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$151.03 mln
$146.79 mln (14 Analysts)
Q2 Net Loss
 
$17.93 mln
 
Q2 Gross Margin
 
74.00%
 
Q2 Operating Income
 
-$19.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 10 "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 $40.00, about 15.7% below its August 5 closing price of $47.46

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(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.)