10x Genomics (TXG) Reports Q1: Everything You Need To Know Ahead Of Earnings
Biotech company 10x Genomics (NASDAQ:TXG) will be announcing earnings results tomorrow after the bell. Here's what investors should know.
10x Genomics beat analysts' revenue expectations by 3.5% last quarter, reporting revenues of $165 million, down 10.3% year on year. It was a slower quarter for the company, with a significant miss of analysts' EPS estimates and full-year revenue guidance missing analysts' expectations.
Is 10x Genomics a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting 10x Genomics's revenue to decline 5.9% year on year to $132.7 million, a reversal from the 5% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.29 per share.
10x Genomics Total Revenue
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 Q1 results, giving us a hint as to what we can expect. Medpace delivered year-on-year revenue growth of 9.3%, beating analysts' expectations by 6%, and Mettler-Toledo reported a revenue decline of 4.6%, topping estimates by 1%. Medpace traded down 2.1% following the results while Mettler-Toledo was up 4.3%.
Read our full analysis of Medpace's results here and Mettler-Toledo's results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 5.9% on average over the last month. 10x Genomics is up 18.8% during the same time and is heading into earnings with an average analyst price target of $15.27 (compared to the current share price of $8.48).
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