10X Genomics' Q2 revenue beats estimates
Overview
10X Genomics Q2 revenue of $172.9 mln beats analyst expectations, per LSEG data
Net income for Q2 was $34.5 mln, reversing a loss from last year
Co acquires Scale Biosciences to strengthen single cell analysis capabilities
Outlook
Company expects Q3 2025 revenue between $140 mln and $144 mln
10X Genomics notes revenue acceleration due to anticipated tariff changes
Company highlights uncertainty in funding environment impacting outlook
10X Genomics emphasizes long-term opportunity amid market challenges
Result Drivers
REVENUE DECLINE - 5% decrease in revenue excluding litigation settlement, driven by lower instrument sales
GROSS MARGIN INCREASE - Higher license and royalty revenue improved gross margin to 72%
CHINA PURCHASES - $4 mln in revenue from accelerated purchases by Chinese customers due to tariff concerns
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $172.90 mln | $139.40 mln (15 Analysts) |
Q2 Net Income |
| $34.50 mln |
|
Q2 Gross Margin |
| 72.0% |
|
Q2 Operating Income |
| $30.10 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 11 "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 $14.00, about 9.6% above its August 6 closing price of $12.66
Press Release: ID:nPnWjV2ga
