Strong Demand For Products, Q3 Revenue Growth
10x Genomics, a biotechnology company that designs and manufactures gene sequencing technology was listed following its IPO in September. While the stock saw some volatility post its debut, it currently trades at about $65, a ~65% increase from its IPO price of $39 per share. Part of the rally is due to growing demand for the company's products. 10x Genomics is a market leader in providing tools (equipment, consumables, and software) for single-cell analysis, and these tools are seeing an increasing uptake from researchers in biotech companies as well as academia as it enables them to understand new biology and diseases .Moreover, the company’s revenues over Q3 2019 were stronger than expected, coming in at $61.21 million (up 67% YoY and about 10% ahead of estimates)Below, we take a look at how the company fared in recent years and what lies ahead.
How does 10x Genomics' Revenue Growth in 2019 compare with that in prior periods and what's the forecast?
Total Revenues for 10x Genomics increased from $71 million in 2017 to $146 million in 2018, a growth of 106%.
We expect revenues to grow to about $240 million in 2019.
How does 10x Genomics' Total Expense in 2018 compare with that in prior periods and what's the forecast?
Total Expense for 10x Genomics increased from $90 Mil in 2017 to about $258 Mil in 2018, an increase of 188%.
We expect Total Expense growth to be -4% in 2019.
How does 10x Genomics' EBT in 2018 compare with that in prior periods and what's the forecast?
EBT for 10x Genomics decreased from -$19 million in 2017 to -$112 million in 2018, as Operating Expenses grew faster than Revenues.
We expect EBT to increase to -$9 million in 2019.
EBT = Total Revenues - Total Expense
HOW TO MODIFY
Modify the forecasts for Total Revenues and Total Expenses to see impact on EBT.
How does 10x Genomics' Net Income in 2018 compare with that in prior periods and what's the forecast?
Net Income for 10x Genomics' declined from -$19 million in 2017 to -$113 million on 2018.
We expect Net Income to increase to -$9 Mil in 2019.
Net Income = Income from Continuing Operations + Adjustments to Net Income [if any]
Change In Net Income
Effective Tax Rate