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Jun 30, 2022
10X Genomics Q2 2022 Earnings Report
Revenue decreased slightly due to macro headwinds, particularly outside of the United States.
Key Takeaways
10x Genomics reported a slight decrease in revenue for the second quarter of 2022, with revenue totaling $114.6 million, a 1% decrease compared to the prior year period. The decrease was primarily driven by decreased demand due to lockdowns in China, delayed customer reorders in Europe resulting from a logistics cold-chain issue, execution challenges and unfavorable foreign exchange headwinds. The company is updating its outlook for the full year 2022 and now expects revenue to be in the range of $500 million to $520 million, representing 2% to 6% growth over full year 2021.
Revenue was $114.6 million for the second quarter, representing a 1% decrease over the corresponding period of 2021.
Announced the breakthrough capability of single-cell analysis on FFPE samples with its recently launched Fixed RNA Profiling Kit.
Began shipping Visium CytAssist, the company's first spatial instrument.
Announced the hiring of Jim Wilbur, Ph.D., as Chief Commercial Officer.
Forward Guidance
10x Genomics is updating its outlook for the full year 2022. The company now expects revenue to be in the range of $500 million to $520 million, representing 2% to 6% growth over full year 2021.
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