10X Genomics (TXG) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $150.7M, up 1% YoY; consumables and services growth offset lower instrument and license revenue, while gross margin rose to 75% and net loss narrowed to $19.4M.

• Atera commercial shipments began in September; strong demand supported raised FY26 guidance, but production, installation and training capacity are expected to constrain the ramp.

Financial highlights

• Q3 revenue was $150.7M versus $149.0M; products and services revenue rose 1% to $150.2M, while license and royalty revenue fell 54% to $0.5M.

• Operating loss improved to $16.1M from $32.2M, and net loss narrowed to $19.4M from $27.5M.

• Operating expenses fell 3% to $129.0M from $132.5M; lower personnel and lab equipment costs were partly offset by higher litigation expenses.

• 9M revenue declined 5% to $452.5M from $476.8M, while net loss widened to $50.8M from $27.3M.

Outlook and guidance

• FY26 revenue guidance rose to $625M–$635M from $610M–$630M; excluding non-recurring patent-settlement revenue in FY26 and FY25, expected growth is 4%–6%.

• Year-end Atera shipment outlook rose to ~50 instruments from ~40; capacity constraints make ~50 per quarter a reasonable 2027 ramp expectation.

• Q4 gross margin is expected in the low-to-mid 60% range, pressured by product mix and Atera shipments; 2027 margins are expected below current levels as placements precede consumables growth.

• Q4 spatial consumables are expected to grow at a double-digit rate, including a full quarter of Atera consumables shipments.

• Planned capital expenditures are $10M–$15M over the next 12 months, mainly for manufacturing and R&D equipment; existing cash and cash generation are expected to cover needs for at least 12 months.