10x Genomics (TXG) Earnings Date & Reports

Key Takeaways

• Third quarter revenue reached $150.7 million, up 1.1% year over year and slightly above the roughly $148 million consensus estimate.
• GAAP net loss narrowed to -$0.15 per share, beating the consensus estimate of about -$0.26 per share.
• Gross margin expanded sharply to 75%, up from 67% in the prior-year period, driven by lower inventory write-downs and product mix.
• Management raised full-year 2026 revenue guidance to $625 million–$635 million, up from $610 million–$630 million.
• Total instrument revenue fell 43%, while consumables revenue rose 5%, led by 16% growth in spatial consumables.
• The company now expects to ship roughly 50 Atera instruments by year-end, up from a prior target of about 40.
• For more context on the company, explore its Major News, Today's Price Move, Price Targets, and Forecast pages.
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Earnings Context and Why It Matters

10x Genomics (TXG), a life science technology company focused on single-cell and spatial biology, reported results for the third quarter ended September 30, 2026. This quarter matters because it sits at a pivotal transition for the company: the recently launched Atera spatial platform is beginning to ship, while legacy Chromium, Visium, and Xenium instrument sales are moderating as customers await the new system. Investors are watching whether recurring consumables demand can offset declining instrument revenue and whether a recovering margin profile can bring the company closer to profitability. With a heavy cash balance and a disciplined cost structure, the report offers a key read on how well 10x Genomics is positioning itself for its next growth cycle.

Reported Results

10x Genomics posted third quarter revenue of $150.7 million, a 1.1% increase from the prior-year period and modestly above the consensus estimate of roughly $148 million. The company reported a GAAP net loss of $0.15 per share, narrowing from a $0.22 loss a year earlier and beating the consensus estimate of about -$0.26 per share.

Consumables revenue rose 5% to $134.3 million, with spatial consumables up 16% and single-cell consumables roughly flat. Total instrument revenue declined 43%, reflecting a slowdown in Chromium and spatial instrument unit sales ahead of the Atera ramp. Gross margin climbed to 75% from 67%, helped by lower inventory write-downs and a favorable product mix. Total operating expenses fell to $129.0 million from $132.5 million. The company ended the quarter with $576 million in cash, cash equivalents, and marketable securities.

Management also raised its full-year 2026 revenue outlook to a range of $625 million–$635 million, up from $610 million–$630 million, citing stronger-than-anticipated spatial consumables demand and a higher Atera shipment forecast.

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Market Reaction and Investor Sentiment

Despite the earnings and revenue beats, shares of 10x Genomics declined sharply following the release, falling roughly 10% in immediate after-hours trading. The negative reaction suggests investors had priced in stronger growth expectations heading into the report, and the combination of flat overall revenue and a 43% drop in instrument sales tempered enthusiasm. The margin improvement was viewed as encouraging, but much of it stemmed from cost discipline and product mix rather than top-line acceleration. With the stock having rallied substantially into the quarter, the market appeared to be looking for more compelling growth evidence before rewarding the shares further.

Forward Outlook and Key Factors to Monitor

Looking ahead, the near-term narrative centers on the Atera ramp. Management's decision to raise its year-end shipment target from roughly 40 to about 50 instruments signals confidence in production scaling, but execution on manufacturing and customer installation will be the key variable to watch. Atera's success will ultimately be measured by consumables pull-through, not just instrument shipments, given that recurring revenue drives the long-term model.

Investors should also monitor whether spatial consumables momentum can be sustained once Atera is more widely deployed. The strong 16% growth in spatial consumables, even while customers awaited the new platform, suggests healthy underlying demand. Single-cell consumables, by contrast, remain relatively flat, so any reacceleration there would be a meaningful positive signal.

On the cost side, management has indicated that gross margins may step down sequentially in the fourth quarter as Atera instrument shipments increase. Balancing that margin pressure against rising consumables revenue will shape profitability through the rest of the fiscal year. Finally, watch for further guidance updates and any signals on international demand, where results have been uneven across regions.

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