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 ar.