Gene Sequencing Tech Provider 10x Genomics' Q3 Sales Fall Short On Expectations, But CEO Sees Opportunity Ahead

10x Genomics Inc (NASDAQ:TXG) stock is trading lower after the company, on Wednesday, released preliminary financial results for the third quarter of 2024, revealing a mixed performance.

The company’s revenue for the quarter totaled approximately $151.7 million versus the consensus of $162.245 million, marking a slight 1% decline compared to the same period in 2023.

Also Read: What’s Going On With 10x Genomics Stock On Wednesday?

“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 and organization to increase effectiveness represented a significant change in ...