TXG - 10x Genomics stock rises 17% on Q3 beat maintains FY22 outlook
- 10x Genomics ( NASDAQ: TXG ) stock rose ~17% on Thursday after Q3 results beat estimates and the company maintained its FY22 revenue outlook.
- Net loss per share widened to -$0.37, compared to -0.15 in Q3 2021. Meanwhile, revenue grew +4.6% Y/Y to $131.07M. Both these top and bottom line metrics surpassed analysts expectations.
- Operating expenses increased to $140.69M, compared to $116.66M in Q3 2021, driven by higher personnel expenses, including stock-based compensation and restructuring costs, increased costs for facilities and information technology, and increased costs for laboratory materials, partially offset by a decline in marketing expenses, according to the company.
- As of Sept. 30, cash and cash equivalents and marketable securities were $452.4M.
- Outlook:
- "When Xenium launches later this year as planned, we strongly believe it will be the best performing system available for in situ analysis," said 10x Genomics Co-founder and CEO Serge Saxonov.
- The company maintained its previously announced FY22 revenue outlook range of $500M to $520M ( consensus $509.26M).
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10x Genomics stock rises 17% on Q3 beat, maintains FY22 outlook