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Sep 30, 2024
10X Genomics Q3 2024 Earnings Report
Revenue decreased slightly due to lower instrument revenue, offset by stronger consumables, and operating loss improved due to decreased operating expenses.
Key Takeaways
10x Genomics reported third-quarter revenue of $151.7 million, a 1% decrease compared to the prior year. The company experienced a net loss of $35.8 million, an improvement from the previous year's net loss of $93.0 million. They are updating their outlook for the full year 2024, now expecting revenue to be in the range of $595 million to $605 million.
Revenue was $151.7 million, a 1% decrease year-over-year.
Gross margin was 70%, compared to 62% in the prior year.
Operating loss was $41.5 million, compared to $94.8 million in the prior year.
Net loss was $35.8 million, compared to a net loss of $93.0 million in the prior year.
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 $595 million to $605 million versus a prior range of $640 million to $660 million. The updated range represents a 3% decrease from the full year 2023 revenue at the midpoint.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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