# 10x Genomics, Inc. (TXG)

> Source: Nexqual · https://nexqual.com/TXG · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, 10x Genomics, Inc. (TXG), nexqual.com/TXG" · informational, not investment advice.

**Price:** USD 83.62 (+7.18% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 78.02 · day 78.25–87.82 · 52w 12.34–102.81 · market cap $10.9B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $617M, net income -$75.1M (-12.2% margin), free cash flow $121M (SEC filings).
- Insider open-market sales, last ~7 months: 17 Form 4 filings, $14.9M; 7 not under a Rule 10b5-1 plan ($6.2M); 0 by opportunistic insiders, 8 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.61 on a 1–5 scale) (18 analysts), mean target USD 77.5 (range 50–110).
- Total return with dividends: 1Y +504.8% vs S&P 500 +13.2%; 5Y -48.1% vs S&P 500 +79.8%.
- Next earnings: 2026-11-05, EPS estimate USD -0.02, revenue estimate $148M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $490M | $516M | $619M | $611M | $643M | $617M |
| Gross profit | $416M | $396M | $409M | $414M | $444M | — |
| Operating income | -$52.3M | -$168M | -$265M | -$195M | -$61.0M | -$88.4M |
| Net income | -$58.2M | -$166M | -$255M | -$183M | -$43.5M | -$75.1M |
| EPS (diluted) | -$0.53 | -$1.46 | -$2.18 | -$1.52 | -$0.35 | — |
| Free cash flow | -$123M | -$165M | -$63.8M | -$5.7M | $130M | $121M |
| Gross margin | 84.9% | 76.7% | 66.2% | 67.9% | 69.1% | — |
| Operating margin | -10.7% | -32.5% | -42.9% | -31.9% | -9.5% | -14.3% |
| Net margin | -11.9% | -32.1% | -41.2% | -29.9% | -6.8% | -12.2% |
| Revenue growth | +64.1% | +5.3% | +19.8% | -1.3% | +5.2% | — |
| Cash + short-term investments | $587M | $430M | $389M | $393M | $523M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 17.7x · P/FCF 89.7x · P/B 13.2x · FCF yield 1.11% · Earnings yield -0.69%

## Insider sales (SEC Form 4, open-market, last ~7 months)
10 of 17 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-22 | Suliman Shehnaaz | Director | 5,723 | $465K | 19.4% | Yes (adopted March 13, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-22 | Saxonov Serge | Chief Executive Officer | 25,000 | $2.0M | 2.3% | Yes (adopted November 29, 2025) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
| 2026-09-09 | Taich Adam | Chief Financial Officer | 46,388 | $3.0M | 12.8% | Yes (adopted June 10, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-03 | Stuelpnagel John R | Director | 20,000 | $1.2M | 5.7% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-08-26 | Saxonov Serge | Chief Executive Officer | 10,486 | $668K | 1% | Yes (adopted November 29, 2025) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-24 | Saxonov Serge | Chief Executive Officer | 18,545 | $1.2M | 1.7% | No | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-24 | Taich Adam | Chief Financial Officer | 17,166 | $1.1M | 4.5% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-24 | Hindson Benjamin J. | See Remarks | 13,818 | $871K | 2.8% | No | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-08-24 | Suliman Shehnaaz | Director | 2,207 | $140K | 7% | Yes (adopted March 13, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-13…2026-08-14 | Teichmann Sarah A. | Director | 7,551 | $432K | 21.2% | Yes (adopted May 14, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-11 | Stuelpnagel John R | Director | 20,000 | $1.2M | 5.4% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-06-22 | Saxonov Serge | Chief Executive Officer | 30,000 | $1.0M | 2.6% | Yes (adopted November 29, 2025) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-16 | Suliman Shehnaaz | Director | 5,723 | $187K | 15.3% | Yes (adopted March 13, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22…2026-05-26 | Saxonov Serge | Chief Executive Officer | 28,893 | $709K | 2.5% | Yes (adopted November 29, 2025) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-05-22 | Hindson Benjamin J. | See Remarks | 11,595 | $283K | 2.3% | No | Routine (sold in Feb & May & Aug & Nov each year 2023–2025) |
| 2026-05-22 | Taich Adam | Chief Financial Officer | 15,098 | $369K | 3.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-14 | Saxonov Serge | Chief Executive Officer | 5,000 | $123K | 0.4% | Yes (adopted November 29, 2025) | Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.61 on a 1–5 scale), 18 analysts; mean target USD 77.5 (low 50, high 110).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | TD Cowen | Target raised | Hold | $47 → $70 |
| 2026-10-13 | Morgan Stanley | Target raised | Equal-Weight | $40 → $70 |
| 2026-10-12 | Canaccord Genuity | Target raised | Buy | $60 → $100 |
| 2026-10-07 | Barclays | Target raised | Overweight | $52 → $110 |
| 2026-09-29 | Leerink Partners | Target raised | Market Perform | $40 → $90 |
| 2026-09-28 | Piper Sandler | Target raised | Neutral | $47 → $80 |
| 2026-09-28 | Argus Research | Initiated | Buy | $110 |
| 2026-09-09 | UBS | Target raised | Neutral | $20 → $68 |
| 2026-09-01 | RBC Capital | Initiated | Sector Perform | $70 |
| 2026-08-12 | Stephens & Co. | Target raised | Overweight | $50 → $65 |
| 2026-08-10 | Piper Sandler | Target raised | Neutral | $42 → $47 |
| 2026-08-10 | Canaccord Genuity | Target raised | Buy | $50 → $60 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +504.8% | -48.1% |
| S&P 500 (SPY) | +13.2% | +79.8% |
| Per year | +511.6% | -12.3% |
| Volatility (annualized) | 73.7% | 69.6% |
| Max drawdown | -28.6% (Oct 2026→Oct 2026) | -95.8% (Nov 2021→Mar 2025) |

## Peers (Medical Devices)
BIO (Bio-Rad Laboratories, Inc.) USD 385.12 +1.08% · PODD (Insulet Corporation) USD 148.93 -0.60% · GKOS (Glaukos Corporation) USD 181.43 +0.14% · GMED (Globus Medical, Inc.) USD 81.26 +0.44% · BRKR (Bruker Corporation) USD 62 +2.07% · SNN (Smith & Nephew SNATS, Inc.) USD 30.12 +0.07%

## More
Full page: https://nexqual.com/TXG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Products and services revenue | $149.1M | 98.7% | +2.7% |
| — Single Cell (part of Products and services revenue) | $88.5M | 58.6% | +3.1% |
| — Spatial (part of Products and services revenue) | $42.3M | 28.0% | +16.2% |
| — Services (part of Products and services revenue) | $10.7M | 7.1% | +26.0% |
| — Spatial (part of Products and services revenue) | $4.6M | 3.0% | -47.8% |
| — Single Cell (part of Products and services revenue) | $3.1M | 2.0% | -46.1% |
| Consumables | $130.8M | 86.6% | +7.0% |
| Instruments | $7.7M | 5.1% | -47.2% |
| License and royalty revenue | $1.9M | 1.3% | -93.0% |
| Total revenue | $151.0M | 100% | — |
The lines above cover 191.6% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $85.0M | 56.3% | -19.9% |
| — United States (part of Americas) | $82.1M | 54.4% | -20.7% |
| — Americas (excluding United States) (part of Americas) | $2.9M | 1.9% | +9.4% |
| Europe, Middle East and Africa | $40.0M | 26.5% | +15.1% |
| Asia-Pacific | $26.0M | 17.2% | -18.7% |
| — China (part of Asia-Pacific) | $15.0M | 9.9% | -35.4% |
| — Asia-Pacific (excluding China) (part of Asia-Pacific) | $11.1M | 7.3% | +25.1% |
| Total revenue | $151.0M | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "Financial Guidance 10x Genomics is raising its full year 2026 revenue guidance and now expects revenue in the range of $610 million to $630 million, versus the previous range of $600 million to $625 million."
- "Webcast and Conference Call Information 10x Genomics will host a conference call to discuss the second quarter 2026 financial results, business developments and outlook after market close on Thursday, August 6, 2026 at 1:30 PM Pacific Time / 4:30 PM Eastern Time."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.02 | $-0.04 | +$0.02 | $147.8M | 2 |
| Next quarter (ends 2026-12-31) | $-0.01 | $-0.01 | +$0.01 | $171.5M | 2 |
| Current fiscal year (ends 2026-12-31) | $0.04 | $0.00 | +$0.04 | $620.6M | 3 |
| Next fiscal year (ends 2027-12-31) | $0.08 | $0.21 | -62.9% | $683.3M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±20.5%; last 8 reports averaged ±5.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 23 | 98.2% | ±20.5% |
| 2026-12-18 | 51 | 90.4% | ±27.3% |
| 2027-02-19 | 114 | 85.7% | ±38.2% |
| 2027-05-21 | 205 | 85.2% | ±50.2% |
| 2027-08-20 | 296 | 85.1% | ±59.5% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | $0.03 | −$0.02 | Beat +$0.05 | +9.6% |
| May 7, 2026 | Quarter ended Mar 31, 2026 | $0.07 | −$0.06 | Beat +$0.13 | -5.0% |
| Feb 12, 2026 | Quarter ended Dec 31, 2025 | $0.07 | −$0.04 | Beat +$0.11 | -5.4% |
| Jan 12, 2026 | Quarter ended Dec 31, 2025 | $0.07 | −$0.04 | Beat +$0.11 | +0.3% |
| Nov 6, 2025 | Quarter ended Sep 30, 2025 | −$0.02 | −$0.07 | Beat +71.4% | +13.0% |
| Aug 7, 2025 | — | — | — | — | -2.9% |
| May 8, 2025 | — | — | — | — | +5.5% |
| Feb 12, 2025 | — | — | — | — | +1.0% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-07 | Schedule 13G/A | ARK Investment Management LLC, Catherine D. Wood: 5.2% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1770787/000110465926114392/0001104659-26-114392-index.htm |
| 2026-09-08 | Schedule 13G | T. Rowe Price Associates, Inc.: 11.7% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1770787/000008025526000600/0000080255-26-000600-index.htm |
| 2026-08-14 | Schedule 13G/A | ARK Investment Management LLC, Catherine D. Wood: 8.6% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1770787/000110465926096964/0001104659-26-096964-index.htm |
| 2026-08-07 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1770787/000162828026054491/0001628280-26-054491-index.htm |
| 2026-08-06 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1770787/000162828026054273/0001628280-26-054273-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.