Life sciences research company 10x Genomics (NASDAQ: TXG) delivered its first-quarter numbers on May 5, reporting that it grew revenues by 47% year over year, with instrument sales up by 22% and consumables sales up by 52%. The combination of increasing consumable sales and lower litigation expenses produced a mouth-watering gross margin of 84%, compared to 79% for the prior-year period.
There is a lot to like about this Cathie Wood favorite, even if the market disagreed , sending the stock down by a double-digit percentage in the wake of earnings.
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Down More Than 20%, Is This Cathie Wood Biotech A Buy?