10x Genomics (NASDAQ:TXG) Posts Earnings Results

10x Genomics (NASDAQ:TXG) posted its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10, Zacks reports. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis.

Here are the key takeaways from 10x Genomics’ conference call:

• Atera demand exceeded expectations, with booked orders already well above the approximately 40 instruments the company expects to ship in 2026. Management cited broad interest from academia, medical centers, and biopharma, with potential utilization estimated at roughly 2x Xenium levels.
• 10x raised its 2026 revenue outlook to $610 million-$630 million, representing 2%-5% growth excluding non-recurring settlement revenue. Q4 is expected to benefit substantially from Atera shipments, alongside normal seasonal strength.
• Q2 revenue was $151 million, or $149.4 million excluding settlement revenue, up 3% year over year; consumables revenue increased 7%, led by 16% growth in spatial consumables and double-digit growth in single-cell reaction volumes. However, total instrument revenue declined 47% as customers moderated purchases ahead of Atera and tariff changes.
• Management expects a modest sequential revenue decline in Q3 as customers defer Xenium and Visium purchases while preparing for Atera, with the spatial transition dynamics expected to peak during the quarter. Atera demand is strong, but near-term shipments remain constrained by manufacturing capacity.
• Executives characterized AI-driven biological research as a significant structural tailwind, increasing demand for high-quality single-cell and spatial data. The company also highlighted continued Flex Apex momentum, expanding multi-omics capabilities, and new oncology partnerships supporting future clinical applications.

10x Genomics Trading Down 3.9%

TXG traded down $1.86 on Thursday, hitting $45.60. 2,507,453 shares of the company’s stock were exchanged, compared to its average volume of 2,913,797. The firm has a 50-day moving average price of $38.81 and a 200-day moving average price of $27.45. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -268.24 and a beta of 2.03. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $50.34.

Insider Buying and Selling

In other 10x Genomics news, Director Shehnaaz Suliman sold 5,723 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $32.63, for a total value of $186,741.49. Following the completion of the sale, the director directly owned 31,722 shares of the company’s stock, valued at $1,035,088.86. This trade represents a 15.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Taich sold 15,098 shares of 10x Genomics stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $368,995.12. Following the transaction, the chief financial officer owned 379,898 shares in the company, valued at approximately $9,284,707.12. This represents a 3.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 91,309 shares of company stock valued at $2,581,357 over the last ninety days. 8.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its stake in shares of 10x Genomics by 6.6% in the fourth quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after buying an additional 779,973 shares in the last quarter. Millennium Management LLC boosted its holdings in 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after acquiring an additional 2,494,142 shares during the period. Wellington Management Group LLP boosted its stake in shares of 10x Genomics by 126.6% in the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after purchasing an additional 2,394,355 shares during the period. AQR Capital Management LLC boosted its position in 10x Genomics by 241.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after buying an additional 2,925,372 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of 10x Genomics by 12.9% in the 3rd quarter. Bank of America Corp DE now owns 3,413,286 shares of the company’s stock valued at $39,901,000 after buying an additional 389,797 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TXG has been the topic of several research reports. Morgan Stanley upped their target price on 10x Genomics from $22.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research note on Wednesday, June 24th. Piper Sandler lifted their target price on 10x Genomics from $20.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.