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TXG beat Q1 estimates with a narrower loss and revenue growth excluding prior-year one-time items.
10x Genomics grew consumables revenue 12.5% and expanded gross margin by 220 basis points.
TXG maintained 2026 revenue guidance of $600M-$625M and ended Q1 with no debt.
10x Genomics (TXG - Free Report) delivered a loss per share of 10 cents in first-quarter 2026, narrower than the year-earlier loss per share of 36 cents. The figure surpassed the Zacks Consensus Estimate by 65.5%.
TXG's Revenues
TXG registered revenues of $150.8 million in the first quarter of 2026, which decreased about 2.6% year over year. Excluding $16.8 million related to one-time license and royalty revenue in the first quarter of 2025, revenues increased 9% year over year. However, the figure surpassed the Zacks Consensus Estimate by 3.57%.
TXG’s Business Units in Detail
The company reports revenue under two primary segments: Products and Services and License and royalty revenue.
Products and Services revenue totaled $149.9 million, up approximately 8.8% year over year. Within this segment, Total instruments revenues totaled $11.3 million, down 23.9% year over year. In contrast, Total consumables revenues were $129.8 million, representing a 12.5% year-over-year increase.
Services revenue totaled $8.8 million, up 15.4% year over year.
Meanwhile, License and royalty revenue was $0.9 million compared with $17.1 million in the prior-year quarter, which included $16.8 million related to one-time license and royalty revenue.
TXG's Geographical Distribution
Geographically, 10x Genomics derives revenues from three major regions: the Americas, Europe, the Middle East and Africa (EMEA), and Asia-Pacific.
In the first quarter of 2026, Total Americas’ revenues were $80.1 million, reflecting a 11.6% year-over-year decline.
EMEA revenues totaled $36.9 million, up approximately 15.5% year over year.
Meanwhile, Total Asia-Pacific revenues were $33.9 million, representing 4.4% year-over-year growth.
In the quarter under review, TXG’s gross profit improved 0.7% year over year to $106.2 million. The gross margin expanded 220 basis points (bps) to 70.3%.
Selling, general and administrative expenses fell 26% year over year to $66.4 million. Research and development expenses declined 11.5% year over year to $56.8 million. Total operating expenses of $123.2 million decreased 14.9% year over year.
Total operating loss was $17 million, reflecting an improvement from the prior-year loss of $39.3 million.
TXG’s Financial Position
TXG exited the first quarter of 2026 with cash, cash equivalents and marketable securities of $539.8 million, up from $523.4 million at the end of the fourth quarter of 2025. Importantly, the company ended the quarter with no debt on its balance sheet, underscoring a solid solvency position.
TXG’s 2026 Guidance
10x Genomics has maintained its revenue outlook for 2026.
10x Genomics expects 2026 revenues to be in the range of $600 million to $625 million. Excluding the non-recurring license and royalty revenue related to patent litigation settlements in 2026, this represents 0% to 4% growth over 2026.
Our Take
10x Genomics exited the first quarter of 2026 with better-than-expected results, wherein both earnings and revenues beat the Zacks Consensus Estimate. While reported revenues declined year over year due to the absence of prior-year one-time license and royalty revenues, underlying business trends remained healthy, with Products and Services revenues rising on continued strength in consumables demand and higher services revenues. Growth across the EMEA and Asia-Pacific regions, expanding gross margin and disciplined cost controls were encouraging. The company also reported a significantly narrower operating loss year over year, supported by lower operating expenses and improving operating leverage.
During the quarter, 10x Genomics continued advancing its spatial biology and single-cell analysis portfolio through strategic innovation initiatives. The launch of Atera, its next-generation spatial whole-transcriptome platform designed to deliver single-cell sensitivity at unprecedented scale, marked a major technology milestone and is expected to support future growth following commercialization in the second half of 2026.
The company also partnered with Bioptimus to launch the STELA initiative, aimed at building foundational spatial datasets linking biology with disease outcomes using the Xenium platform, with planned expansion to Atera over time. Complementing these initiatives, TXG maintained a strong balance sheet with more than $539 million in cash and no debt, providing financial flexibility to support ongoing innovation and commercialization efforts.
TXG’s Zacks Rank and Stocks to Consider
TXG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space that are expected to report earnings soon are DexCom, Inc. (DXCM - Free Report) , Encompass Health Corporation (EHC - Free Report) and The Cooper Companies, Inc. (COO - Free Report) .
The Zacks Consensus Estimate for DexCom’s first-quarter 2026 adjusted earnings per share (EPS) is currently pegged at 47 cents. The consensus estimate for revenues is pegged at $1.18 billion. DXCM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DexCom has an estimated long-term growth rate of 20.6%. DXCM’s earnings yield of 4.1% compares favorably with the industry’s negative yield.
Encompass Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.51. The same for revenues is pegged at $1.57 billion.
Encompass Health has an estimated long-term growth rate of 8.8%. EHC’s earnings yield of 5.9% compares favorably with the industry’s 5.6%.
Cooper Companies currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its second-quarter fiscal 2026 adjusted EPS is currently pegged at $1.10. The same for its revenues is pegged at $1.05 billion.
Cooper Companies has an estimated long-term growth rate of 8.4%. COO’s earnings yield of 7.2% compares favorably with the industry’s 6.1%.
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10x Genomics Q1 Earnings & Revenues Beat Estimates, Gross Margin Up
Key Takeaways
10x Genomics (TXG - Free Report) delivered a loss per share of 10 cents in first-quarter 2026, narrower than the year-earlier loss per share of 36 cents. The figure surpassed the Zacks Consensus Estimate by 65.5%.
TXG's Revenues
TXG registered revenues of $150.8 million in the first quarter of 2026, which decreased about 2.6% year over year. Excluding $16.8 million related to one-time license and royalty revenue in the first quarter of 2025, revenues increased 9% year over year. However, the figure surpassed the Zacks Consensus Estimate by 3.57%.
TXG’s Business Units in Detail
The company reports revenue under two primary segments: Products and Services and License and royalty revenue.
Products and Services revenue totaled $149.9 million, up approximately 8.8% year over year. Within this segment, Total instruments revenues totaled $11.3 million, down 23.9% year over year. In contrast, Total consumables revenues were $129.8 million, representing a 12.5% year-over-year increase.
Services revenue totaled $8.8 million, up 15.4% year over year.
Meanwhile, License and royalty revenue was $0.9 million compared with $17.1 million in the prior-year quarter, which included $16.8 million related to one-time license and royalty revenue.
TXG's Geographical Distribution
Geographically, 10x Genomics derives revenues from three major regions: the Americas, Europe, the Middle East and Africa (EMEA), and Asia-Pacific.
In the first quarter of 2026, Total Americas’ revenues were $80.1 million, reflecting a 11.6% year-over-year decline.
EMEA revenues totaled $36.9 million, up approximately 15.5% year over year.
Meanwhile, Total Asia-Pacific revenues were $33.9 million, representing 4.4% year-over-year growth.
10x Genomics Price, Consensus and EPS Surprise
10x Genomics price-consensus-eps-surprise-chart | 10x Genomics Quote
TXG's Margin Trend
In the quarter under review, TXG’s gross profit improved 0.7% year over year to $106.2 million. The gross margin expanded 220 basis points (bps) to 70.3%.
Selling, general and administrative expenses fell 26% year over year to $66.4 million. Research and development expenses declined 11.5% year over year to $56.8 million. Total operating expenses of $123.2 million decreased 14.9% year over year.
Total operating loss was $17 million, reflecting an improvement from the prior-year loss of $39.3 million.
TXG’s Financial Position
TXG exited the first quarter of 2026 with cash, cash equivalents and marketable securities of $539.8 million, up from $523.4 million at the end of the fourth quarter of 2025. Importantly, the company ended the quarter with no debt on its balance sheet, underscoring a solid solvency position.
TXG’s 2026 Guidance
10x Genomics has maintained its revenue outlook for 2026.
10x Genomics expects 2026 revenues to be in the range of $600 million to $625 million. Excluding the non-recurring license and royalty revenue related to patent litigation settlements in 2026, this represents 0% to 4% growth over 2026.
Our Take
10x Genomics exited the first quarter of 2026 with better-than-expected results, wherein both earnings and revenues beat the Zacks Consensus Estimate. While reported revenues declined year over year due to the absence of prior-year one-time license and royalty revenues, underlying business trends remained healthy, with Products and Services revenues rising on continued strength in consumables demand and higher services revenues. Growth across the EMEA and Asia-Pacific regions, expanding gross margin and disciplined cost controls were encouraging. The company also reported a significantly narrower operating loss year over year, supported by lower operating expenses and improving operating leverage.
During the quarter, 10x Genomics continued advancing its spatial biology and single-cell analysis portfolio through strategic innovation initiatives. The launch of Atera, its next-generation spatial whole-transcriptome platform designed to deliver single-cell sensitivity at unprecedented scale, marked a major technology milestone and is expected to support future growth following commercialization in the second half of 2026.
The company also partnered with Bioptimus to launch the STELA initiative, aimed at building foundational spatial datasets linking biology with disease outcomes using the Xenium platform, with planned expansion to Atera over time. Complementing these initiatives, TXG maintained a strong balance sheet with more than $539 million in cash and no debt, providing financial flexibility to support ongoing innovation and commercialization efforts.
TXG’s Zacks Rank and Stocks to Consider
TXG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space that are expected to report earnings soon are DexCom, Inc. (DXCM - Free Report) , Encompass Health Corporation (EHC - Free Report) and The Cooper Companies, Inc. (COO - Free Report) .
The Zacks Consensus Estimate for DexCom’s first-quarter 2026 adjusted earnings per share (EPS) is currently pegged at 47 cents. The consensus estimate for revenues is pegged at $1.18 billion. DXCM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DexCom has an estimated long-term growth rate of 20.6%. DXCM’s earnings yield of 4.1% compares favorably with the industry’s negative yield.
Encompass Health currently has a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.51. The same for revenues is pegged at $1.57 billion.
Encompass Health has an estimated long-term growth rate of 8.8%. EHC’s earnings yield of 5.9% compares favorably with the industry’s 5.6%.
Cooper Companies currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its second-quarter fiscal 2026 adjusted EPS is currently pegged at $1.10. The same for its revenues is pegged at $1.05 billion.
Cooper Companies has an estimated long-term growth rate of 8.4%. COO’s earnings yield of 7.2% compares favorably with the industry’s 6.1%.