10x Genomics raises 2026 revenue outlook to $625–$635 million
Key Facts
On November 5, 10x Genomics raised its fiscal 2026 revenue outlook to a range of $625 million to $635 million, from a previous range of $610 million to $630 million, according to its third-quarter results statement. The company said the new guidance represents growth of 4% to 6% over 2025 revenue, excluding nonrecurring license and royalty revenue tied to patent dispute settlements in 2026 and 2025. The update puts the company’s projected annual revenue above both the low and high ends of its previous estimate, with the ranges overlapping. Management attributed the increase to third-quarter performance, strong sales of spatial product consumables and expectations to ship more Atera instruments during the year. The announcement came alongside quarterly results showing modest revenue growth and improvement in some profitability measures.
The company posted revenue of $150.7 million in the third quarter of 2026, up 1% from $149.0 million in the same period of 2025. The quarterly improvement coincided with revenue falling to $452.5 million in the first nine months of the year, compared with $476.8 million in the same period of 2025. By revenue component, consumables revenue rose to $134.327 million from $127.892 million a year earlier. Instrument revenue, by contrast, fell to $6.858 million from $11.999 million, and consumables were the largest revenue component in the quarter. The company linked its higher annual outlook to strong sales of spatial product consumables, while the figures reflect differing performance by the consumables and instruments businesses during the quarter.
Gross margin rose to 75% in the third quarter from 67% in the same quarter of 2025. The company attributed the improvement mainly to lower inventory write-offs and a change in product mix. Operating expenses also fell 3% to $129.0 million from $132.5 million a year earlier. The company said lower employee and laboratory equipment expenses contributed in part to the decline, partly offset by higher litigation expenses. These developments helped narrow the operating loss to $16.1 million from $32.2 million in the third quarter of 2025, according to the results statement.
Quarterly net loss narrowed to $19.4 million from $27.5 million in the same period a year earlier. But net loss for the first nine months rose to $50.8 million from $27.3 million in the same period of 2025, alongside lower revenue for that period. Cash, cash equivalents and marketable securities totaled $575.7 million as of September 30, 2026. The third-quarter operating and net losses remained part of the financial picture the company presented alongside its higher annual outlook. An after-hours report also showed 10x Genomics shares falling 12.5% in after-hours trading on November 5.
Co-CEO and founder Serge Saxonov said the quarter’s standout was the start of commercial shipments of the Atera platform, adding: "The standout of the quarter was the start of commercial shipments of the Atera platform." The company announced the start of global commercial shipments of the platform and said early demand had launched research programs in discovery, translational research and biopharma. The statement did not set a numerical target for the number of Atera instruments to be shipped by year-end. Management said expectations to ship more instruments during the year were one reason for raising its revenue estimate. Atera’s role in the new guidance is therefore tied to the shipment outlook cited by management and the start of its commercial launch, alongside strong sales of spatial consumables.
The company also announced Sentira, a cloud-based analysis platform that uses accelerated computing from Nvidia to process spatial data, and Claude from Anthropic to analyze single-cell data using agentic AI. The company had scheduled a conference to discuss results, developments and business prospects after the market close on Thursday, November 5, 2026, at 1:30 p.m. Pacific time and 4:30 p.m. Eastern time. The conference coincided with the release of third-quarter results and updated annual guidance. The results combined higher quarterly revenue, improved margin and narrower quarterly losses with lower revenue and higher net loss for the first nine months. The company’s announced adjusted annual growth estimate excludes nonrecurring license and royalty revenue tied to patent settlements.