10X Genomics Q4 prelim revenue beats on consumables unit strength

Reuters01-12
10X Genomics Q4 prelim revenue beats on consumables unit strength

Overview

  • Life science tech firm's preliminary Q4 revenue rises, beating analyst expectations

  • Consumables revenue grew 6% yr/yr, while instruments revenue fell 36% yr/yr

  • Preliminary results subject to adjustment as financial statements are finalized

Outlook

  • Company did not provide specific guidance for future quarters or the full year

Result Drivers

  • CONSUMABLES GROWTH - Consumables revenue grew 6% year-over-year, driven by a 14% increase in Spatial consumables

  • INSTRUMENTS DECLINE - Instruments revenue decreased 36% year-over-year, with both Single Cell and Spatial instruments contributing to the decline

  • SERVICES AND LICENSE REVENUE - Services and license revenue grew 23% year-over-year, despite a slight sequential decrease

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

Beat

$166 mln

$150.80 mln (14 Analysts)

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

  • Wall Street's median 12-month price target for 10X Genomics Inc is $18.00, about 12% below its January 9 closing price of $20.46

Press Release: ID:nPnbRBZ8Fa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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