10x Genomics Preliminary Q3 Revenue Of ~$151.7M, Down 1% YoY
Portfolio Pulse from Benzinga Newsdesk
10x Genomics reported preliminary Q3 2024 revenue of $151.7M, a 1% YoY decrease. Instrument sales dropped 46%, while consumables and services grew by 10% and 48%, respectively. Revenue fell short due to disruptive commercial process changes and cautious customer spending.
October 09, 2024 | 8:06 pm
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10x Genomics' Q3 2024 revenue decreased by 1% YoY to $151.7M, with a significant 46% drop in instrument sales. The company faced challenges due to changes in commercial processes and cautious customer spending.
The 1% YoY revenue decline and a significant 46% drop in instrument sales indicate short-term challenges for 10x Genomics. The company's commercial process changes and cautious customer spending have negatively impacted results, suggesting potential short-term pressure on the stock price.
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IMPORTANCE 80
RELEVANCE 100