10x Genomics, Inc. (TXG) shares plummeted 5.66% in after-hours trading on Thursday, following the release of the company's second-quarter financial results. The decline came on top of a 5% drop during the regular session, reflecting a negative market reaction to the earnings report.

The company reported a net loss of $17.9 million for the quarter, a sharp reversal from earnings of $0.28 per share a year earlier. Revenue fell 12.6% year-over-year to $151.0 million, missing the prior-year figure of $172.9 million. While the reported loss of $0.14 per share and revenue beat analyst estimates, the fundamental year-over-year deterioration—including a revenue decline and a swing to a loss—appeared to weigh heavily on investor sentiment. Operating expenses also climbed 39% to $132.1 million, reflecting a smaller settlement gain compared to the same period last year.

Despite the after-hours selloff, the company raised its full-year 2026 revenue guidance to a range of $610 million to $630 million, up from the previous $600 million to $625 million, citing strong early order flow for its Atera product. However, the positive outlook was not enough to offset concerns over the immediate contraction in revenue and profitability.