10X GENOMICS Reports 28.1% Year-Over-Year Increase in Total Revenue for Q2 FY2023 at USD 146.8 Million
August 8, 2023
☀️Earnings Overview
10X GENOMICS ($NASDAQ:TXG) reported total revenue of USD 146.8 million for the second quarter of FY2023, showing a 28.1% year-over-year growth. The company posted net income of USD -62.4 million, compared to -64.5 million the same quarter the previous year. The figures were reported on June 30 2023.
Analysis
GoodWhale has conducted a thorough analysis of 10X GENOMICS‘s wellbeing and found that the company is a high risk investment according to Risk Rating. They have detected five risk warnings when examining the income sheet, balance sheet, cashflow statement, non financial and financial journal. To get a clear picture of 10X GENOMICS’s financial standing and the risks associated with it, it’s best to register on goodwhale.com. There you can find the detailed report that GoodWhale has compiled from their analysis, allowing for a better understanding of the company’s current situation. GoodWhale has given a comprehensive overview of 10X GENOMICS’s financials and identified the risks associated with investing in the company. Those interested in learning more about the company should register on goodwhale.com to access GoodWhale’s analysis and understand what it means for their investment. By doing so, they can make an informed decision regarding 10X GENOMICS. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 10x Genomics. More…
| Total Revenues | Net Income | Net Margin |
| 568.41 | -172.29 | -30.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 10x Genomics. More…
| Operations | Investing | Financing |
| -16.93 | -350.89 | 15.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 10x Genomics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 989.64 | 196.34 | 6.83 |
Key Ratios Snapshot
Some of the financial key ratios for 10x Genomics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.3% | – | -29.3% |
| FCF Margin | ROE | ROA |
| -22.1% | -13.1% | -10.5% |
Peers
The company’s products include the Chromium System, an integrated solution for genome sequencing and data analysis, and the Visium Spatial Transcriptomics System, amicroarray platform for analyzing transcriptome activity in tissue samples. 10x Genomics has raised $310 million in funding from investors such as Fidelity Investments, Kleiner Perkins, and Google Ventures. 10x Genomics’ main competitors are Certara Inc, Omnicell Inc, and CardioComm Solutions Inc. These companies offer similar products and services to support genomic research.
– Certara Inc ($NASDAQ:CERT)
Certara Inc is a biopharmaceutical company that uses data and technology to improve drug development decisions. The company has a market cap of 2.49B as of 2022 and a Return on Equity of 1.81%. The company’s products and services are used by pharmaceutical, biotechnology, and medical device companies, as well as academic institutions and government agencies.
– Omnicell Inc ($NASDAQ:OMCL)
Omnicell is a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies. Their market cap of 2.49B as of 2022, and ROE of 2.67% indicates a strong and growing company. Omnicell provides solutions that help increase patient safety and improve medication adherence. Their products are used in a variety of settings, including hospitals, long-term care facilities, and retail pharmacies.
– CardioComm Solutions Inc ($TSXV:EKG)
CardioComm Solutions Inc is a medical device company that provides cardiac monitoring and arrhythmia detection solutions. It has a market cap of 2.26M as of 2022 and a return on equity of -59.73%. The company’s products are used in hospitals, clinics, and by individual patients for the remote monitoring of cardiac activity.
Summary
Investor sentiment in 10X GENOMICS remains strong despite the company’s second quarter FY2023 results, which showed total revenue of USD 146.8 million, up 28.1% year-over-year and net income of USD -62.4 million, down from -64.5 million in the same period last year. The company’s strong revenue growth is a positive sign and suggests that their core business is healthy and expanding. Going forward, analysts are encouraged by 10X GENOMICS’ potential to continue to differentiate itself by providing innovative solutions for genomics research and remain a leader in the industry.
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