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10x Genomics First Quarter 2024 Earnings: In Line With Expectations

10x Genomics (NASDAQ:TXG) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$141.0m (up 5.0% from 1Q 2023).

  • Net loss: US$59.9m (loss widened by 18% from 1Q 2023).

  • US$0.50 loss per share (further deteriorated from US$0.44 loss in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

10x Genomics Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Life Sciences industry in the US.

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Performance of the American Life Sciences industry.

The company's shares are down 2.2% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for 10x Genomics that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.