Want to see TXG full AI Analyst Report?
Top Page
10x Genomics
(NASDAQ:TXG)
Select Model
Select Model
Rating:65Neutral
Price Target:
$42.00
▲(61.04% Upside)
Action:Reiterated
Date:06/09/26
The score is driven primarily by improved financial resilience (low leverage and positive TTM cash flow) and strong technical momentum (price well above key moving averages with positive MACD). These positives are tempered by weak valuation signals tied to losses (negative P/E), a sharp TTM revenue decline, and earnings-call guidance pointing to only modest 2026 growth with near-term instrument and launch-transition headwinds.
Positive Factors
Recurring consumables revenue
10x’s business model centers on instrument-installed recurring consumables. Durable double-digit consumables growth, especially strong spatial expansion, signals repeatable revenue per installed base, higher lifetime customer value, and predictable pull-through that supports long-term cash generation beyond one-time instrument sales.
Negative Factors
Sharp TTM revenue decline
A steep trailing-twelve-month revenue decline reflects either demand disruption or one-time comparables and weakens near-term operating leverage. Durable margin recovery depends on restoring top-line growth; prolonged revenue shrinkage can pressure R&D, sales investments, and the path to sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue
10x’s business model centers on instrument-installed recurring consumables. Durable double-digit consumables growth, especially strong spatial expansion, signals repeatable revenue per installed base, higher lifetime customer value, and predictable pull-through that supports long-term cash generation beyond one-time instrument sales.
Read all positive factors
10x Genomics Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where 10x Genomics is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where 10x Genomics is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The Fly10x Genomics (TXG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.95B
Dividend YieldN/A
Average Volume (3M)3.20M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth2.26%
EPS Growth86.67%
CountryUS
Employees1,306
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.17
Shares Outstanding116,877,320
10 Day Avg. Volume3,417,684
30 Day Avg. Volume3,195,458
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)2.56
Price to Sales (P/S)3.17
P/FCF Ratio15.64
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue5.75
Enterprise Value/Gross Profit8.25
Enterprise Value/Ebitda39.34
Forecast
1Y Price Target
$28.50Price Target Upside9.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)-0.76
Revenue Forecast (FY)$613.41M
10x Genomics Business Overview & Revenue Model
Company Description
Headquartered in Pleasanton, California, 10x Genomics, Inc. (founded in 2012 and known as 10X Technologies, Inc. until November 2014) is a prominent life science technology company. The firm specializes in creating and distributing sophisticated i...
How the Company Makes Money
10x Genomics primarily makes money by selling (1) instruments and related hardware systems and (2) recurring consumables that customers run on those instruments, with additional revenue from software and services in certain offerings.
Key revenue...
10x Genomics Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call emphasized a major product milestone (Atara) with strong consumables momentum, margin improvement, expense discipline, and a strengthened cash position, balanced against notable near-term headwinds in instrument revenue, limited initial Atara production capacity, and modest full-year growth guidance. Management framed the instrument declines as temporary and incorporated anticipated customer timing shifts into guidance, while positioning Atara and existing platforms to drive longer-term TAM expansion, AI-driven demand, and translational adoption.Positive Updates
Revenue Growth (Excluding Prior-Year Settlement)
Q1 revenue was $150.8M, up 9% year-over-year when excluding nonrecurring settlement revenue from the prior-year period.
Negative Updates
Instrument Revenue Decline
Total instrument revenue declined 24% year-over-year in Q1; Chromium instruments down 12% and spatial instrument revenue down 32%, driven in part by customers delaying spatial instrument purchases ahead of the Atara launch.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth (Excluding Prior-Year Settlement)
Q1 revenue was $150.8M, up 9% year-over-year when excluding nonrecurring settlement revenue from the prior-year period.
Read all positive updates
Company Guidance
Management maintained 2026 revenue guidance of $600–$625 million (which, excluding 2025 upfront patent settlement revenue, implies about 0%–4% y/y growth at the midpoint), reiterated expectations for double‑digit growth in both single‑cell consumable reaction volumes and spatial consumables revenue, and noted Q1 was front‑loaded ($150.8M revenue; Q1 gross margin 70%) with a low single‑digit sequential step‑down expected in Q2 and a broadly similar Q3 before Atara begins to contribute meaningfully in Q4 (initial production capacity limited in 2026). They expect to sell roughly 40 Atara units between Q3 and Q4 (weighted to Q4), with each instrument able to process up to 800 whole‑transcriptome 1‑cm2 samples/year (or >3,000 with targeted panels). Management reiterated full‑year gross margin in the mid‑60s (noting some Q4 mix pressure as instrument margins are below portfolio average), said OpEx should be roughly flat y/y after Q1 OpEx declined ~15% (≈20% ex the prior‑year settlement), and highlighted a cash balance of $540M (up $113M y/y, $16M sequentially).10x Genomics Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 638.78M | 642.82M | 610.78M | 618.73M | 516.41M | 490.49M |
| Gross Profit | 444.61M | 443.88M | 414.48M | 409.31M | 396.02M | 416.40M |
| EBITDA | 93.30M | 3.91M | -133.99M | -205.11M | -128.49M | -24.59M |
| Net Income | -22.66M | -43.54M | -182.63M | -255.10M | -166.00M | -58.22M |
Balance Sheet | ||||||
| Total Assets | 1.02B | 1.04B | 918.64M | 965.14M | 1.03B | 1.02B |
| Cash, Cash Equivalents and Short-Term Investments | 539.85M | 523.41M | 393.40M | 388.69M | 429.98M | 587.45M |
| Total Debt | 81.39M | 157.74M | 82.61M | 95.37M | 95.18M | 81.98M |
| Total Liabilities | 201.44M | 245.04M | 208.50M | 224.10M | 223.24M | 201.26M |
| Stockholders Equity | 814.32M | 796.33M | 710.13M | 741.04M | 805.74M | 817.57M |
Cash Flow | ||||||
| Free Cash Flow | 122.18M | 130.12M | -5.73M | -64.72M | -165.27M | -122.65M |
| Operating Cash Flow | 127.82M | 136.05M | 6.66M | -15.20M | -33.61M | -21.37M |
| Investing Cash Flow | -12.86M | -13.44M | -32.63M | 133.49M | -350.89M | -106.73M |
| Financing Cash Flow | -2.04M | 6.80M | 10.91M | 13.67M | 15.82M | 35.30M |
10x Genomics Technical Analysis
Positive
26.08
Price Trends
27.46
Positive
24.14
Positive
20.13
Positive
Market Momentum
3.13
Negative
72.75
Negative
90.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TXG, the sentiment is Positive. The current price of 26.08 is below the 20-day moving average (MA) of 33.38, below the 50-day MA of 27.46, and above the 200-day MA of 20.13, indicating a bullish trend. The MACD of 3.13 indicates Negative momentum. The RSI at 72.75 is Negative, neither overbought nor oversold. The STOCH value of 90.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TXG.
10x Genomics Risk Analysis
10x Genomics disclosed 8 risk factors in its most recent earnings report. 10x Genomics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
10x Genomics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.50B | -12.77 | -138.70% | ― | 49.78% | -477.12% | |
65 Neutral | $4.95B | -229.47 | -2.86% | ― | 2.26% | 86.67% | |
61 Neutral | $1.96B | 96.72 | 1.64% | ― | 7.86% | -2.92% | |
56 Neutral | $1.26B | -11.97 | -30.85% | ― | 10.59% | 46.79% | |
54 Neutral | $448.84M | -4.53 | -140.63% | ― | 20.85% | -18.60% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $2.00B | -25.38 | -27.50% | ― | 34.09% | -84.19% |
* Healthcare Sector Average
TXG
10x Genomics
39.01
27.09
227.27%
OMCL
Omnicell
43.03
14.11
48.79%
SDGR
Schrodinger
16.88
-3.75
-18.18%
WGS
GeneDx Holdings
67.51
-18.23
-21.26%
SOPH
SOPHiA GENETICS
5.35
2.10
64.62%
HNGE
Hinge Health, Inc. Class A
84.05
40.98
95.15%
10x Genomics Corporate Events
Executive/Board ChangesShareholder Meetings
10x Genomics Shareholders Reelect Directors, Ratify Auditor
Positive
Jun 8, 2026
At its annual meeting of stockholders held via live webcast on June 4, 2026, 10x Genomics reported that holders of approximately 90.5% of eligible votes were present, establishing a quorum. Shareholders elected three Class I directors, Serge Saxon...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.