Biotech company 10x Genomics (NASDAQ: TXG) will be reporting results this Thursday after market hours. Here’s what investors should know.
10x Genomics beat analysts’ revenue expectations by 24% last quarter, reporting revenues of $172.9 million, up 12.9% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
Is 10x Genomics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting 10x Genomics’s revenue to decline 6.1% year on year to $142.4 million, a further deceleration from the 1.3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. 10x Genomics has missed Wall Street’s revenue estimates twice over the last two years.
Looking at 10x Genomics’s peers in the life sciences tools & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Illumina posted flat year-on-year revenue, beating analysts’ expectations by 1.8%, and Sotera Health Company reported revenues up 9.1%, topping estimates by 2.6%. Illumina traded up 24.7% following the results.
Read our full analysis of Illumina’s results here and Sotera Health Company’s results here.
Investors in the life sciences tools & services segment have had steady hands going into earnings, with share prices flat over the last month. 10x Genomics is up 8.1% during the same time and is heading into earnings with an average analyst price target of $14.86 (compared to the current share price of $13.66).
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