Justin McAnear, 10x's CFO, attributed the rise in spending to higher personnel-related costs.įor full-year 2022, 10x's revenues increased 5 percent to $516.4 million from $490.5 million, beating the average Wall Street estimate of $$508.1 million.įull-year consumables revenues were $435.6 million, up 4 percent year over year from $418.7 million in 2021 instrument revenues were $72.4 million, up 12 percent from $64.5 million and service revenues were $8.4 million, up 16 percent from $7.3 million.īy region, revenues from the Americas were $293.8 million in 2022, up 11 percent year over year revenues from Europe, the Middle East, and Africa revenues were $117.1 million, up 8 percent year over year and revenues from Asia-Pacific were $105.6 million, down 10 percent from 2021. Its SG&A expenses rose 13 percent to $78.9 million from $69.9 million. The firm's Q4 R&D expenses rose 3 percent to $63.6 million from $61.9 million a year ago. The company's net loss for the quarter was $17.2 million, or $.15 per share, compared to a loss of $18.4 million, or $0.16 per share, in Q4 2021, and beating the average Wall Street estimate of a $0.31 loss per share. However, revenues from Asia Pacific were $27.6 million, down 13 percent year over year, primarily due to COVID disruptions. Revenues from Europe, the Middle East, and Africa totaled $43 million, up 24 percent year over year. Q4 revenues from the Americas were $85.6 million, up 11 percent year over year. Service revenue increased 29 percent to $2.3 million from $1.8 million in Q4 2021. 31, 2022, the Pleasanton, California-based single-cell and spatial technologies firm reported revenues of $156.2 million, up from $143.5 million during the prior-year period and beating the average Wall Street estimate of $148.7 million.Ĭonsumables revenues in the fourth quarter were $131.6 million, up 8 percent from $122.4 million, a year ago, while instrument revenues grew 15 percent year over year to $22.3 million from $19.4 million. The upgradable Chromium iX can process tens of thousands of cell per run.ġ0x Genomics reported after the close of the market on Wednesday a 9 percent increase in fourth quarter revenues, driven by consumables sales and partially offset by a decrease in revenues in China.įor the three months ended Dec. Last year, 10x announced that this assay will only be available on the Chromium X series instruments and later dropped the price of a Chromium Controller to $35,000 in coordination with the launch of the X series. "If you want to do straight up gene expression, Flex should be the default choice," Saxonov told GenomeWeb last week at the Advances in Genome Biology and Technology conference. The move comes as the firm is trying to make its Flex assay the go-to product for single-cell gene expression analysis using Chromium. In an email, a 10x spokesperson said the firm is committed to supporting the Chromium Controller installed base for "several years," and suggested that the Chromium iX instrument would become "a reasonable entry point moving forward." "In fact, after several consecutive quarters of customers overwhelmingly opting for X Series instruments, we made the decision during Q4 to discontinue future sales of our legacy Chromium Controller." " Throughout the year, we've seen ongoing demand for Chromium X Series instruments as both new and existing customers chose the X Series for its high performance, extended capabilities, and series-specific assets," 10x CEO and Cofounder Serge Saxonov said on a conference call with investors following the release of the firm's Q4 and full-year 2022 financial results. NEW YORK – 10x Genomics will be discontinuing its base model of the Chromium single-cell sample preparation instrument, the company said on Thursday. This article has been updated with information from 10x Genomics' earnings call.
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