10x Genomics (NASDAQ:TXG) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

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

NASDAQ:TXG traded down $1.86 during trading hours on Thursday, reaching $45.60. The company had a trading volume of 2,507,453 shares, compared to its average volume of 2,913,797. 10x Genomics has a 52 week low of $11.16 and a 52 week high of $50.34. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -268.24 and a beta of 2.03. The firm’s 50 day moving average price is $38.81 and its 200-day moving average price is $27.45.

Insider Transactions at 10x Genomics

In related news, Director Shehnaaz Suliman sold 5,723 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $32.63, for a total transaction of $186,741.49. Following the completion of the sale, the director directly owned 31,722 shares in the company, valued at approximately $1,035,088.86. The trade was a 15.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 11,595 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the sale, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. This represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 91,309 shares of company stock worth $2,581,357 in the last three months. 8.84% of the stock is owned by insiders.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently modified their holdings of TXG. Cibc World Market Inc. raised its stake in 10x Genomics by 2.2% in the fourth quarter. Cibc World Market Inc. now owns 63,849 shares of the company’s stock valued at $1,041,000 after buying an additional 1,385 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of 10x Genomics by 4.4% during the fourth quarter. New York State Common Retirement Fund now owns 36,017 shares of the company’s stock worth $587,000 after acquiring an additional 1,533 shares during the last quarter. Creative Planning grew its stake in shares of 10x Genomics by 3.0% during the third quarter. Creative Planning now owns 56,874 shares of the company’s stock worth $665,000 after acquiring an additional 1,637 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in shares of 10x Genomics by 3.5% during the fourth quarter. Martingale Asset Management L P now owns 89,006 shares of the company’s stock valued at $1,452,000 after acquiring an additional 3,003 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

TXG has been the topic of several analyst reports. Citigroup boosted their target price on 10x Genomics from $24.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. TD Cowen reaffirmed a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $32.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Leerink Partners increased their price objective on shares of 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, Barclays raised their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and a consensus target price of $32.08.

10x Genomics Company Profile

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.