PLEASANTON, Calif., July 14,
2022 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq:
TXG), a life sciences leader focused on mastering biology to
advance human health, today announced that its preliminary revenue
is expected to be approximately $114.5
million for the second quarter ended June 30, 2022. This represents an approximate 1%
decrease from $115.8 million for the
prior year period, and flat revenue sequentially.
Preliminary geographic revenue for the second quarter is
expected to be as follows:
- Americas revenue of approximately $70.9
million, an 8% increase over the prior year period and a 19%
increase sequentially
- EMEA revenue of approximately $25.6
million, an 11% decrease over the prior year period and a
25% increase sequentially
- APAC revenue of approximately $18.1
million, a 15% decrease over the prior year period and a 47%
decrease sequentially
"Our second quarter results fell short of our expectations,"
said Serge Saxonov, Co-founder and CEO of 10x Genomics. "We
continue to have strong confidence in our longer-term opportunity,
technology leadership and the underlying strength of our markets.
We are more excited than ever to deliver on the full potential of
single cell and spatial biology."
In a separate press release issued this afternoon, the company
announced the hiring of Jim Wilbur,
Ph.D. as Chief Commercial Officer, effective July 27.
Preliminary Revenue Subject to
Adjustment
The preliminary revenue for the three months ended June 30, 2022 included in this release is
preliminary and prior to the completion of the company's financial
statement close process and related internal control over financial
reporting, and is therefore subject to adjustment. Management will
provide additional information in conjunction with the release of
its full second quarter 2022 financial results scheduled on
August 8, 2022.
2022 Guidance and Financial
Outlook
10x Genomics will discuss its full year 2022 guidance when it
reports its full financial results for second quarter 2022 in
connection with its earnings call on Monday,
August 8.
Webcast and Conference Call
Information
Company management will host a conference call Monday, August 8 beginning at 1:30 PM Pacific Time / 4:30 PM Eastern Time to discuss results and its
financial guidance. Live audio of the webcast will be available at
http://investors.10xgenomics.com. 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 interrogate, understand and master biology to advance
human health. Our integrated solutions include instruments,
consumables and software for analyzing biological systems at a
resolution and scale that matches the complexity of biology. 10x
Genomics products have been adopted by researchers around the world
including in all of the top 100 global research institutions as
ranked by Nature in 2020 based on publications and all of the top
20 global pharmaceutical companies by 2020 research and development
spend and have been cited in over 3,800 research papers on
discoveries ranging from oncology to immunology and neuroscience.
Our patent portfolio comprises more than 1,500 issued patents and
patent applications.
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, 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," "estimate,"
"predict," "potential" or "continue" 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
expectations regarding our second quarter preliminary revenue, our
business operations, financial performance and results of
operations, the opportunities for single cell and spatial methods
and our belief with regard to our near and long term opportunities.
These statements are based on management's current expectations,
forecasts, beliefs, assumptions and information currently available
to management, and actual outcomes and results could differ
materially from these statements due to a number of factors. 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" and
elsewhere in the documents 10x Genomics, Inc. files with the
Securities and Exchange Commission from time to time.
Although 10x Genomics, Inc. believes that the expectations
reflected in the forward-looking statements are reasonable, it
cannot provide any assurance that these expectations will prove to
be correct nor can it guarantee that the future results, levels of
activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or occur. These
forward-looking statements do not reflect the potential impact of
any future acquisitions, mergers, dispositions, joint ventures or
investments 10x Genomics may make. Further, as the COVID-19
pandemic is continuously evolving, such forward-looking statements
may not accurately or fully reflect the potential impact that the
COVID-19 pandemic may have on the business, financial condition,
results of operations and cash flows of 10x Genomics, Inc. The
forward-looking statements in this press release are based on
information available to 10x Genomics, Inc. as of the date hereof,
and 10x Genomics, Inc. disclaims any obligation to update any
forward-looking statements provided to reflect any change in our
expectations or any change in events, conditions, or circumstances
on which any such statement is based, except as required by law.
These forward-looking 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.
Disclosure Information
10x Genomics uses filings with the Securities and Exchange
Commission, its website (www.10xgenomics.com), 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: investors@10xgenomics.com
Media: media@10xgenomics.com
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SOURCE 10x Genomics, Inc.