10x Genomics (NASDAQ:TXG) Announces Quarterly Earnings Results

10x Genomics (NASDAQ:TXG) released its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10, Zacks reports. The business had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS.

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 Stock Performance

Shares of TXG stock traded up $6.43 on Friday, hitting $52.03. 5,431,241 shares of the company’s stock traded hands, compared to its average volume of 2,844,127. 10x Genomics has a one year low of $11.16 and a one year high of $52.22. The company’s fifty day simple moving average is $38.81 and its 200 day simple moving average is $27.45. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of -306.06 and a beta of 2.03.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TXG shares. Canaccord Genuity Group lifted their price objective on shares of 10x Genomics from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Leerink Partners lifted their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Barclays increased their price objective on 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $34.83.

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 11,595 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the sale, the insider owned 502,000 shares in the company, valued at approximately $12,268,880. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shehnaaz Suliman sold 5,723 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $32.63, for a total value of $186,741.49. Following the sale, the director directly owned 31,722 shares of the company’s stock, valued at approximately $1,035,088.86. This trade represents a 15.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,309 shares of company stock valued at $2,581,357 over the last three months. 8.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of 10x Genomics by 203.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after acquiring an additional 5,025 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of 10x Genomics during the first quarter worth about $92,000. CIBC Bancorp USA Inc. bought a new stake in shares of 10x Genomics in the third quarter worth about $134,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of 10x Genomics in the fourth quarter worth about $188,000. 84.68% of the stock is currently owned by institutional investors.

10x Genomics News Roundup

Here are the key news stories impacting 10x Genomics this week:

• Positive Sentiment: Q2 results exceeded expectations: 10x Genomics reported an adjusted loss of $0.14 per share, better than the $0.23–$0.24 consensus loss, while revenue of $151.0 million topped estimates near $146.7 million. 10x Genomics Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: 2026 outlook was raised: Management now expects full-year revenue of $610 million to $630 million, with the midpoint slightly above Wall Street’s approximately $613.8 million forecast. The guidance increase signals confidence in demand and supports the stock’s positive reaction. 10x Genomics Raises 2026 Revenue Outlook
• Positive Sentiment: Gross margin improved: Expansion in gross margin adds to the earnings beat and suggests improving operating leverage, even though the company remains unprofitable.
• Neutral Sentiment: Atera shipments remained around 40 units: The company maintained this shipment level while raising its outlook, but investors may be watching for further acceleration in instrument placements. 10x Genomics Q2 2026 Earnings Call Transcript
• Negative Sentiment: Sales and earnings remain pressured year over year: Revenue declined 12.7% from the prior-year quarter, and the company posted a loss versus prior-year EPS of $0.28. Continued losses and an expected full-year loss remain risks despite the improved outlook.

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.