10x Genomics Announces Preliminary Select Third Quarter 2024 Results

10x Genomics Announces Preliminary Select Third Quarter 2024 Results

Benzinga
October 9, 2024

PLEASANTON, Calif., Oct. 9, 2024 /PRNewswire/ -- 10x Genomics, Inc. (NASDAQ:TXG), a leader in single cell and spatial biology, today announced preliminary select results for the third quarter ended September 30, 2024.

Preliminary Select Third Quarter 2024 Results

Revenue of approximately $151.7 million for the third quarter ended September 30, 2024, representing an approximate 1% decrease from the corresponding prior year period.

Preliminary revenue by source for the third quarter is expected to be as follows:

Instruments revenue of approximately $19.1 million, representing a 46% decrease from the corresponding prior year period. Instruments revenue consists of approximately $7.6 million of Chromium instruments revenue and $11.4 million of Spatial instruments revenue.

Consumables revenue of approximately $126.2 million, representing 10% growth over the corresponding prior year period. Consumables revenue consists of approximately $96.5 million of Chromium consumables revenue and $29.7 million of Spatial consumables revenue.

Services revenue of approximately $6.4 million, representing 48% growth over the corresponding prior year period.

Preliminary revenue by geography for the third quarter is expected to be as follows:

Americas revenue of approximately $87.8 million, an 11% decrease from the prior year period.

EMEA revenue of approximately $37.9 million, an 18% increase over the prior year period.

APAC revenue of approximately $26.0 million, a 15% increase over the prior year period.

Cash and cash equivalents of approximately $398 million as of September 30, 2024.

"Third quarter revenue fell short of our expectations," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "The previously announced modifications we made to our commercial processes ...

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