10x Genomics Q1: revenue up 5% to $141M, net loss widens to $59.9M; guidance reaffirmed

10x Genomics, Inc.

2024-Q1 EPS reported -$0.50 revenue$141,006,000

Revenue of $141.0M (+5% YoY); gross margin 66% vs 73% due to product mix shift to Xenium instruments.
Net loss widened to $59.9M from $50.7M; operating loss $61.5M vs $52.0M.
FY2024 revenue guidance maintained at $670M-$690M, representing 8-12% growth over FY2023.
Shipped Visium HD for spatial discovery, GEM-X single cell technology, and Xenium cell segmentation products.
Operating expenses up 3% to $154.4M; stock-based compensation declined to $36.1M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

10x Genomics, Inc. reported first quarter ended March 31, 2024 results: revenue $141.0 million, net income -$59.9 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $141.0 million
Net income: -$59.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue was $141.0 million for the first quarter of 2024, a 5% increase from $134.3 million for the corresponding prior year period. Gross margin was 66% for the first quarter of 2024, as compared to 73% for the corresponding prior year period. The decrease in gross margin was primarily due to change in product mix driven by Xenium instruments. Operating expenses were $154.4 million for the first quarter of 2024, a 3% increase from $150.4 million for the corresponding prior year period. This increase was driven by higher legal expenses and costs for facilities and information technology partially offset by lower personnel expenses, including stock-based compensation. Operating loss was $61.5 million for the first quarter of 2024, as compared to $52.0 million for the corresponding prior year period. Operating loss includes $36.1 million of stock-based compensation for the first quarter of 2024, as compared to $42.1 million of stock-based compensation for the corresponding prior year per

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Source: SEC EDGAR

accession 0001770787-24-000035

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