Loading...
•
Mar 31, 2022
10X Genomics Q1 2022 Earnings Report
Revenue increased but operating loss widened due to increased operating expenses.
Key Takeaways
10x Genomics reported an 8% increase in revenue compared to the corresponding period of 2021. The increase was primarily the result of increased consumables revenue driven by growth in cumulative instruments sold and increased instrument revenue driven by sales of Chromium X Series instruments. Operating loss was $41.7 million, as compared to $10.2 million for the corresponding prior year period.
Revenue was $114.5 million for the first quarter, representing an 8% increase over the corresponding period of 2021.
Showcased robust product roadmap at Xperience 2022 for the Chromium and Visium platforms and provided a first look into Xenium, the company's forthcoming In Situ platform.
Launched two new products for fixed RNA profiling and nuclei isolation, designed to improve sample preparation and broaden the adoption of Chromium, the leading platform for single cell analysis.
Maintaining its full year 2022 revenue guidance of $600 million to $630 million, representing 22% to 28% growth over full year 2021 revenue.
Forward Guidance
10x Genomics is maintaining its full year 2022 revenue guidance of $600 million to $630 million, representing 22% to 28% growth over full year 2021 revenue.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...