10X Genomics, Inc.

环球视野，深度视角 各位亲爱的股东，大家早上好中午好晚上好。 2024年10月29日盘后，10x Genomics终于发了正式版2024Q3财报。 10x Genomics 不及预期 10x Genomics的财报，我们在上文已经浅浅分析过一遍了。 这次，我们将围绕上次提到到的3个问题展开： 第一，2024Q4以及2024全年的财务指引； 第二，美国区营收大幅度下滑的原因； 第三，空间生物学产品与单细胞系列产品后续的战略定位与安排。 #01 预期不佳 从公布的数据来看，跟初步财务结果几乎没有太大变化。 2024Q3 10x Genomics营收1.52亿美元，同比下滑1.3%，环比下滑0.9%。 毛利率70.2%，相较于去年提高12.8%，环比也有小幅改善。 当然，这也算不得一个好事...因为CFO Adam表示这都是由于产品组合变化所致，Xenium仪器出货量下降了... 好吧，卖越多，亏越多，不如不卖稳赢？ 那么其实净亏损3575.3万美元，同比下降61.6%，环比下降5.7%是不是也是因为这个... 没说... 好吧，从趋势上看10x Genomics要净利润转正还有一段路要走。 那么，回到我们关心的问题： 预期如何？ 很不幸，10x Genomics大幅调低了全年的财务指引，这也是第二次调低全年的财务指引了。 预计，10x Genomics全年营收5.95-6.05亿美元，远低于最初的6.7-6.9亿美元。 甚至，不如咱们半瓶子水预估的6.2亿美元。 简单计算下，10x Genomics认为2024Q4的营收的最好水平就是Q3持平... 注意，是最好... 盘后，10x Genomics股价很干脆的来了个跳水，大跌7.22%。 那么，咱们第二个问题有答案了吗？ 有，但是不完全有。 #02 此涨彼消 本次财报要说亮点，那必然是中国区的表现。 本季度中国区营收1503万美元，同比大幅增长20.9%，环比增长9.4%。 差一点两个双位数增长，总算让中国区的同志们松了一口气。 EMEA（欧洲中东非）表现也ok，营收3785.1万美元，同比增长18.2%，环比增长1.3%。 然而，问题就是美国区这个火车头出现了失速，营收8472.3万美元，同比细化11.8%，环比下滑5.5%。 为什么？ CFO给出的理由是商业化团队的重组造成了销售不及预期，随后在回答投资人提问时CEO Serge Saxonov表示填补销售人员的空缺是目前最棘手的问题。 怎么，咱这是把美国销售一锅端了还是咋滴... 细节也没有更多的披露，我们也将继续关注。 #03 降本也是创新 10x Genomics：你们对价格战一无所知！ 众所周知，10x Genomics最近推出了一系列的低价产品。 包括设备Chromium Xo，新试剂GEM-X Flex、GEM-X Universal Multiplex Workflow。 这些产品一个特点就是可以降低价格，呃，或者是单价、或者是总价。 这时候就有聪明的投资人要问了，你这么打价格战，不会影响到利润率吗？ CFO Adam表示，我们10x Genomics通过创新使得即便销售价格降低利润率仍然能保持在合适区间。 所以说，降本也是一种创新。 谁说中国公司只知道价格战没有创新的？回旋镖来了吧... 另外，本次空间生物学板块表现不佳，甚至都没有公布Xenium的销售数量。 管理层表示不着急，毕竟空间生物学试剂耗材消耗仍然需求旺盛。 等一等，总会追上来的。 #04 最后 我们总结下这份财报。 第一，2024Q3营收不及预期，主要是因为美国区销售拉跨导致。 第二，本季度空间生物学设备销售表现不佳，但是管理层认为未来可期。 第三，中国区、EMEA表现亮眼，美国区商业团队重组和销售人员不足拖累了表现。 第四，下修全年预期，对Q4并不抱有希望。 最后的最后，在财报会上CEO表示2025年宏观环境他的预期是.... 跟2024年没什么区别... 哇的一声哭了出来... ps，有意思的是虽然摩根大通把10x Genomics的目标价格从20降低到14，这货次日开盘后依然有大哥刷了个火箭... 这告诉我们2个不变的真理： 第一，不要看业绩炒股 第二，最好不要炒股 END 啊对对对对，扫描这货 能联系到我 至此，各位股东星标了么？点赞了么？转发了么？在看了么？谢谢！ 所有内容均不作为投资建议，信息均来自公开资料。 近期文章： GeneDx继续狂飙 10x Genomics/Standard BioTools/Illumina 2024Q3业绩前瞻 测序仪厂家福音！GeneDx大规模WGS新生儿筛查初步结果出炉 Thermo Fisher 2024Q3，超预期、下跌与中国 相关资料：注1：https://s28.q4cdn.com/592666581/files/doc_financials/2024/q3/bb9e958b-89f6-40ae-a7ec-4e998209934b.pdf注2：https://investors.10xgenomics.com/news/news-details/2024/10x-Genomics-Reports-Third-Quarter-2024-Financial-Results/default.aspx注3：https://s28.q4cdn.com/592666581/files/doc_financials/2024/q3/TXG_Q3-2024_Earnings-Prepared-Remarks.pdf

PLEASANTON, Calif., Oct. 29, 2024 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today reported financial results for the third quarter ended September 30, 2024. Recent Highlights Revenue was $151.7 million for the third quarter, in line with the company's preliminary announcement, a 1% decrease over the corresponding period of 2023, primarily driven by lower instrument revenue, offset by stronger contributions from consumables. Began shipping GEM-X Flex, setting a new standard for the cost per cell for researchers and enabling them to run millions of cells for less than one cent per cell. GEM-X Flex also delivers a number of improvements that are particularly valuable for clinical FFPE samples. Launched GEM-X Universal Multiplex, enabling researchers to run more cost-effective single cell studies decreasing the cost per sample, even for small scale experiments. Began shipping Chromium Xo, providing a budget-friendly instrument for routine, high-performance single cell analysis. "Our results this quarter fell short of our expectations given greater-than-anticipated disruption from the sales restructuring we implemented in the quarter and cautious customer spending. As these dynamics persist, especially under a difficult macro backdrop, our revenue growth this year will be lower than our previous expectations," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "Despite these challenges, I am confident that the steps we are taking will enable us to reach more customers, execute consistently across the portfolio and drive the broad democratization of our technologies to reach the full potential of the large opportunity ahead." Third Quarter 2024 Financial Results Revenue was $151.7 million for the third quarter of 2024, a 1% decrease from $153.6 million for the corresponding prior year period. Gross margin was 70% for the third quarter of 2024, as compared to 62% for the corresponding prior year period. The increase in gross margin was primarily due to change in product mix. Operating expenses were $147.9 million for the third quarter of 2024, a 22% decrease from $190.3 million for the corresponding prior year period. The decrease was primarily driven by a $41.4 million in-process research and development expense related to an agreement to acquire certain intangible and other assets in the prior year period. Operating loss was $41.5 million for the third quarter of 2024, as compared to $94.8 million for the corresponding prior year period. Operating loss includes $33.9 million of stock-based compensation for the third quarter of 2024, as compared to $40.2 million of stock-based compensation for the corresponding prior year period. Operating loss in the third quarter of 2023 included $41.4 million of in-process research and development expense. Net loss was $35.8 million for the third quarter of 2024, as compared to a net loss of $93.0 million for the corresponding prior year period. Cash and cash equivalents were $398.2 million as of September 30, 2024. 2024 Financial Guidance 10x Genomics is updating its outlook for the full year 2024. The company now expects revenue to be in the range of $595 million to $605 million versus a prior range of $640 million to $660 million. The updated range represents a 3% decrease from the full year 2023 revenue at the midpoint. Webcast and Conference Call Information 10x Genomics will host a conference call to discuss the third quarter 2024 financial results, business developments and outlook after market close on Tuesday, October 29, 2024, 2024 at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A webcast of the conference call can be accessed at . The webcast will be archived and available for replay at least 45 days after the event. About 10x Genomics 10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world's understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn or X (Twitter). Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements included in this press release, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc.'s organization and organizational restructuring, commercial execution, opportunities, specifications, costs and adoption of 10x Genomics, Inc.'s products and services, expected performance advantages and benefits of using 10x Genomics, Inc.'s products and services and 10x Genomics, Inc.'s financial performance and results of operations, including expectations regarding revenue and guidance. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management. Actual outcomes and results could differ materially from these statements due to a number of factors and such statements should not be relied upon as representing 10x Genomics, Inc.'s views as of any date subsequent to the date of this press release. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements provided to reflect any change in 10x Genomics' expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. The material risks and uncertainties that could affect 10x Genomics, Inc.'s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recently-filed 10-K for the fiscal year ended December 31, 2023 and the company's 10-Q for the quarter ended March 31, 2024 to be filed with the Securities and Exchange Commission (SEC) and elsewhere in the documents 10x Genomics, Inc. files with the SEC from time to time. Disclosure Information 10x Genomics uses filings with the Securities and Exchange Commission, its website (), press releases, public conference calls, public webcasts and its social media accounts as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Contacts Investors: [email protected] Media: [email protected] SOURCE 10x Genomics, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

环球视野，深度视角 各位亲爱的股东们，大家早上好中午好晚上好。 2024年10月9日，这个日子实在是太重要了... Illumina发布新品，Vizgen与Ultiveu合并...然后10x Genomics不及预期。 相信看到这条消息的朋友，心里都会一哆嗦。 一般提前公布业绩只有一个原因：出现重大变化。 可能超出预期的好，也可能超出预期的差。 这一次，10x Genomics不幸踩中后者。 这条消息威力有多大呢？在盘后直接把10x Genomics的股价干掉了26%... 那么，哪里不及预期呢？ 单独看收入，2024Q3 10x Genomics营收1.517亿美元，同比下滑1%。 其实问题并不大。 最重要的问题（之一），出在空间生物学上。 根据初步统计数据，2024Q3 空间生物学设备营收1140万美元，同比下滑49.8%，环比下滑24.3%。 试剂方面也没好到哪里去，仅仅比上一个季度略微增长1.5%，同比的话去年基数较低，就不需要看了。 这确实要远逊于Q2的表现，在空间生物学仪器方面在今年呈现出了一边倒的下跌趋势... 这确实让人心碎。 另外，本季度美国区表现拉跨，只拿到了8780万美元的营收，也是不及上个季度。 但是很有可能是暂时性的，需要继续观察。 真正让花街胆寒的，是后面这一句：将在财报会上讨论2024全年财务指引。 这要是往高了调，我不信还要拿出来讨论。 在过去的3个季度，10x Genomics大约完成了4.458亿美元的营收。 而，2024Q2公布的预期是6.4-6.6亿美元。 这意味着，差不多Q4要干2亿美元才能够到及格线。 不是说不可能，只是这种可能性有点低了。 我们推测，10x Genomics可能把全年财务预期调整到6.2-6.4亿美元之间。 当然这一切，还得看10月29日财报会的情况... END 啊对对对对，扫描这货 能联系到我 至此，各位股东星标了么？点赞了么？转发了么？在看了么？谢谢！ 所有内容均不作为投资建议，信息均来自公开资料。 近期文章： Illumina的“一大步”，竟然是跟随华大智造？ 贺建奎老师去搞AD（阿尔茨海默病）疫苗了？ miRNA研究者获得2024年诺贝尔生理或医学奖 Cassava离得谱中谱，方为人上人 NGS/NIPT谁能斩获2024诺奖？ 相关资料：注1：https://investors.10xgenomics.com/news/news-details/2024/10x-Genomics-Announces-Preliminary-Select-Third-Quarter-2024-Results/default.aspx