Gene Sequencing Tech Provider 10x Genomics' Q3 Sales Fall Short On Expectations, But CEO Sees Opportunity Ahead
Portfolio Pulse from Vandana Singh
10x Genomics (NASDAQ:TXG) reported Q3 2024 revenue of $151.7 million, missing expectations of $162.245 million. Instrument sales dropped 46%, while consumables and services saw growth. The company experienced regional revenue declines in the Americas but growth in EMEA and APAC. TXG stock fell 26.20% in premarket trading.
October 10, 2024 | 11:36 am
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10x Genomics reported Q3 2024 revenue below expectations, with significant declines in instrument sales and regional revenue in the Americas. Despite growth in consumables and services, the stock fell 26.20% in premarket trading.
The company's Q3 revenue fell short of expectations, primarily due to a significant drop in instrument sales and regional revenue decline in the Americas. Despite growth in consumables and services, the market reacted negatively, causing a 26.20% drop in stock price during premarket trading.
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