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Jun 30, 2024
10X Genomics Q2 2024 Earnings Report
Reported a revenue increase driven by consumables and highlighted product launches amidst a challenging macro environment.
Key Takeaways
10x Genomics reported a 4% increase in revenue for Q2 2024, primarily driven by consumables. The company saw strong demand for spatial and single cell consumables, fueled by product launches earlier in the year. They are updating the outlook for the full year 2024, now expecting revenue to be in the range of $640 million to $660 million.
Revenue was $153.1 million, a 4% increase year-over-year.
Gross margin was flat year-over-year at 68%.
Operating loss was $41.7 million, improved from $63.4 million in the prior year period.
Began shipping Xenium Prime 5K with enhanced chemistry and multimodal cell segmentation.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
10x Genomics is updating its outlook for the full year 2024. The company now expects revenue to be in the range of $640 million to $660 million versus a prior range of $670 million to $690 million. The updated range represents 3% to 7% growth over full year 2023 revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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