TXG earnings analysis
What we found in TXG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
10x Genomics reported Q1 2026 results with revenue of $150.843 million, a slight decline of 3% YoY but exceeded estimates by 0.03%. EPS stood at -$0.10, matching analysts' expectations while the gross margin improved to 70% due to lower costs. The company retains full-year revenue expectations of $600 to $625 million, expecting moderate growth, excluding one-time revenues from the previous year.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeds Estimates
- Actual revenue was $150.843 million, surpassing estimates of $146.381 million by 3.05%.
- Gross Margin Improvement
- The gross margin improved to 70%, up from 68% in Q1 2025.
- Reduction in Operating Loss
- Operating expenses decreased by 15% year over year, from $144.773 million to $123.224 million.
- Increase in Consumables Revenue
- Consumables revenue grew by 13% to $129.801 million, compared to $115.356 million last year.
- Strong Cash Position
- Cash and cash equivalents rose by $16.4 million to $539.8 million, as of March 31, 2026.
- Positive Operating Cash Flow
- Operating cash flow was $26.120 million, although lower than $34.351 million from the previous year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Net Loss
- The company reported a net loss of $13.5 million for Q1 2026, contributing to an accumulated deficit of $1.5 billion.
- Significant Decrease in License Revenue
- License and royalty revenue declined by 94% to $947,000, down from $17.060 million due to a one-time patent settlement in 2025.
- Dependence on Consumables for Growth
- Instruments revenue plummeted by 24% to $11.262 million, indicating vulnerability if consumables growth does not sustain.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.1
- Gross margin
- 70%
- Segment
- Instruments: $11.262M
- Segment
- Consumables: $129.801M
- Segment
- Services: $8.833M
What they said about what is next.
Maintaining full-year revenue expectations of $600M to $625M.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 13, 2026
- 10x Genomics reported revenue of $642.8 million for the year ended December 31, 2025, a 5% increase from $610.8 million in 2024, while narrowing its net loss to $43.5 million from $182.6 million a year earlier. The…
- 10-Q · October 29, 2024
- 10x Genomics reported Q3 revenue of $151,654 (in thousands), roughly flat YoY but down versus the prior quarter, while gross profit expanded to $106,393 and gross margin improved to 70.2%. Operating loss narrowed to…
- 10-Q · April 30, 2024
- 10x Genomics reported Q1 revenue of $141,006,000, up $6,721,000 (+5.0%) versus Q1 2023, but profitability deteriorated: gross profit was $92,914,000 (65.9% margin) and operating loss widened to $61,498,000. Net loss was…
- 10-K · February 15, 2024
- 10x Genomics describes a platform-driven strategy selling instruments, consumables and software (Chromium, Visium, Xenium) to capture a large share of the life sciences tools market. Revenue grew 20% year-over-year to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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