10x Genomics Inc (TXG)
NASDAQ:TXG
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10x Genomics
(NASDAQ:TXG)
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Select Model
Rating:55Neutral
Price Target:
$23.50
▲(2.17% Upside)
Action:ReiteratedDate:03/17/26
Score is driven mainly by improving financial momentum (notably the shift to positive operating/free cash flow and strong gross margins) but is held back by continued operating losses. Technicals are meaningfully weak with bearish trend indicators despite oversold readings. Guidance is cautious (flat-to-modest growth excluding settlements) and valuation remains challenging due to negative earnings.
Positive Factors
Recurring consumables revenue
A consumables-led model creates durable, repeatable revenue tied to installed base utilization. Once instruments are deployed, recurring assay and reagent demand yields predictable pull-through, supporting steady revenue and high gross margins over time independent of sporadic instrument sales.
Negative Factors
Weak instrument demand
Instruments seed the installed base that generates recurring consumables revenue. Prolonged weakness in capital purchases—driven by constrained CapEx—limits new install growth and future consumables pull-through, capping medium-term revenue expansion despite strong consumables trends.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue
A consumables-led model creates durable, repeatable revenue tied to installed base utilization. Once instruments are deployed, recurring assay and reagent demand yields predictable pull-through, supporting steady revenue and high gross margins over time independent of sporadic instrument sales.
Read all positive factors
10x Genomics (TXG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.94B
Dividend YieldN/A
Average Volume (3M)2.27M
Price to Earnings (P/E)―
Beta (1Y)1.52
Revenue Growth1.92%
EPS Growth59.18%
CountryUS
Employees1,306
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.13
Shares Outstanding117,673,386
10 Day Avg. Volume1,912,112
30 Day Avg. Volume2,272,588
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 Cap0.89
Enterprise Value/Revenue4.08
Enterprise Value/Gross Profit5.91
Enterprise Value/Ebitda-209.21
Forecast
1Y Price Target
$20.46Price Target Upside-11.04% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)-0.83
Revenue Forecast (FY)$612.57M
10x Genomics Business Overview & Revenue Model
Company Description
10x Genomics, Inc., a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides ...
How the Company Makes Money
10x Genomics generates revenue primarily by selling (1) instruments and (2) recurring consumables and related services/software tied to usage of those instruments. Instruments provide an upfront sale when a lab purchases or leases a platform, but ...
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 Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: strong operational and commercial progress in consumables, reaction volumes, product innovation (notably FLEX APEX and Xenium), improved gross margin, and a materially stronger cash position were clear positives. Offsetting these wins were meaningful declines in instrument revenue, continued capital expenditure constraints, regional funding variability (notably the Americas), and pricing/mix considerations from lower-cost assays. Management reinstated cautious but constructive guidance for 2026 (flat-to-modest growth excluding settlements) and emphasized continued cost discipline.Positive Updates
Quarterly and Full-Year Revenue Performance
Q4 revenue of $166,000,000 (up 1% year-over-year) exceeded the high end of guidance; full-year revenue closed at $599,000,000 excluding $44,000,000 of upfront patent litigation settlement revenue.
Negative Updates
Instrument Revenue Pressure
Total instrument revenue declined 36% in Q4; Chromium instrument revenue declined 44% and spatial instrument revenue declined 30%, reflecting materially constrained capital equipment purchases.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly and Full-Year Revenue Performance
Q4 revenue of $166,000,000 (up 1% year-over-year) exceeded the high end of guidance; full-year revenue closed at $599,000,000 excluding $44,000,000 of upfront patent litigation settlement revenue.
Read all positive updates
Company Guidance
10x reinstated full‑year 2026 revenue guidance of $600–$625 million, which at the midpoint implies roughly 0–4% growth versus 2025 after excluding $44 million of upfront patent‑settlement revenue from 2025’s $599 million; the guidance assumes continued double‑digit growth in single‑cell consumable reaction volumes and double‑digit spatial consumables revenue, while constrained CapEx will keep instrument revenue under pressure. Management also expects Q1 to be a larger share of full‑year revenue (historically ~23% of revenue, now about ~24% at the midpoint) and emphasized sustaining the cost discipline that helped end 2025 with $523 million in cash, up ~$130 million year‑over‑year.10x Genomics Financial Statement Overview
Summary
Income Statement
47
Neutral
Balance Sheet
68
Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 642.82M | 610.78M | 618.73M | 516.41M | 490.49M |
| Gross Profit | 443.88M | 414.48M | 409.31M | 396.02M | 416.40M |
| EBITDA | -110.89M | -133.99M | -205.11M | -128.49M | -24.59M |
| Net Income | -43.54M | -182.63M | -255.10M | -166.00M | -58.22M |
Balance Sheet | |||||
| Total Assets | 1.04B | 918.64M | 965.14M | 1.03B | 1.02B |
| Cash, Cash Equivalents and Short-Term Investments | 523.41M | 393.40M | 388.69M | 429.98M | 587.45M |
| Total Debt | 157.74M | 82.61M | 95.37M | 95.18M | 81.98M |
| Total Liabilities | 245.04M | 208.50M | 224.10M | 223.24M | 201.26M |
| Stockholders Equity | 796.33M | 710.13M | 741.04M | 805.74M | 817.57M |
Cash Flow | |||||
| Free Cash Flow | 130.12M | -5.73M | -64.72M | -165.27M | -122.65M |
| Operating Cash Flow | 136.05M | 6.66M | -15.20M | -33.61M | -21.37M |
| Investing Cash Flow | -13.44M | -32.63M | 133.49M | -350.89M | -106.73M |
| Financing Cash Flow | 6.80M | 10.91M | 13.67M | 15.82M | 35.30M |
10x Genomics Technical Analysis
Positive
23.00
Price Trends
20.04
Positive
19.14
Positive
16.06
Positive
Market Momentum
0.75
Negative
63.55
Neutral
79.95
Neutral
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 23 is above the 20-day moving average (MA) of 20.08, above the 50-day MA of 20.04, and above the 200-day MA of 16.06, indicating a bullish trend. The MACD of 0.75 indicates Negative momentum. The RSI at 63.55 is Neutral, neither overbought nor oversold. The STOCH value of 79.95 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $2.83B | -6.96 | -132.16% | ― | 50.67% | -578.00% | |
62 Neutral | $1.76B | -166.38 | -7.41% | ― | 50.50% | ― | |
55 Neutral | $2.94B | -46.73 | -5.69% | ― | 1.92% | 59.18% | |
54 Neutral | $1.61B | 1,014.72 | 0.17% | ― | 10.67% | ― | |
52 Neutral | $846.77M | 10.10 | -29.47% | ― | 32.90% | 1.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $338.99M | -3.99 | -116.98% | ― | 13.66% | -2.65% |
* Healthcare Sector Average
TXG
10x Genomics
23.00
14.99
187.14%
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SOPH
SOPHiA GENETICS
4.73
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HNGE
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35.98
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-10.41%
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.