10x Genomics Q3 revenue increased by 74%, Asia-Pacific revenue doubled

10x Genomics recently reported that its operating income in the third quarter reached US$125 million, an increase of 74% year-on-year from US$71.

The company’s consumables revenue in the third quarter reached US$106 million, a year-on-year increase of 75%; instrument revenue was US$17.

By region, revenue in the Americas was US$70.

Serge Saxonov, CEO of 10x, said: "Our team achieved strong results this quarter, successfully launched Chromium X, and managed this complex operating environment

Subsequently, some 10x executives explained these complexities in detail

First-time financial officer Justin McAnear said that 10x’s business faces “increasing downside risks”, adding that these risks have affected consumables revenue this quarter

The company’s net loss for the quarter narrowed to US$17.

10x Genomics' research and development expenses increased from US$30.

As of September 30, 10x Genomics had a total of US$600 million in cash and cash equivalents

McAnear said that despite the challenging environment, the company is still expected to achieve strong performance at the end of this year