Overview

• Life science tech firm's preliminary Q4 revenue rises, beating analyst expectations

• Consumables revenue grew 6% yr/yr, while instruments revenue fell 36% yr/yr

• Preliminary results subject to adjustment as financial statements are finalized

Outlook

• Company did not provide specific guidance for future quarters or the full year

Result Drivers

• CONSUMABLES GROWTH - Consumables revenue grew 6% year-over-year, driven by a 14% increase in Spatial consumables

• INSTRUMENTS DECLINE - Instruments revenue decreased 36% year-over-year, with both Single Cell and Spatial instruments contributing to the decline

• SERVICES AND LICENSE REVENUE - Services and license revenue grew 23% year-over-year, despite a slight sequential decrease

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

• Wall Street's median 12-month price target for 10X Genomics Inc is $18.00, about 12% below its January 9 closing price of $20.46

Press Release: ID:nPnbRBZ8Fa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)