10X Genomics (TXG) Bank of America Global Healthcare Conference 2026 summary

Business performance and financial highlights

• Achieved strong double-digit growth in single-cell and spatial consumables revenue, with volume increases offsetting pricing declines.

• Improved operating profile through cost control, resulting in increased cash position and a stronger balance sheet.

• Q2 and Q3 expected to see a step down in revenue, with a substantial increase in Q4 driven by Atera placements.

• Annual guidance reinstated, reflecting anticipated double-digit growth in single-cell reactions and spatial consumables.

• Confident in meeting guidance, with Q4 expected to show a 17-18% sequential revenue increase.

Atera platform launch and market impact

• Launched Atera, the largest platform launch in company history, designed to break through throughput and sensitivity constraints in spatial biology.

• Atera offers high throughput, whole transcriptome capability, and works with standard glass slides, enabling large-scale translational studies.

• Strong initial demand for Atera, with supply constraints limiting shipments to 40 units in the second half of the year, mostly in Q4.

• Early placements prioritized for high-utilization customers, including existing Xenium users and centralized service providers.

• Expectation that Atera will eventually consolidate the spatial portfolio, though legacy platforms will remain relevant in the near term.

Strategic outlook and future initiatives

• Investments in manufacturing capacity are moderate, leveraging existing infrastructure in Pleasanton and Singapore.

• Consumables margins for Atera designed to be accretive, with margin mix expected to improve as the installed base grows.

• Anticipate higher utilization rates for Atera due to its centralized model and higher pull-through potential.

• Roadmap includes further automation, multi-omics (including proteins), and advanced software/AI capabilities.

• Clinical diagnostics seen as a major future opportunity, with technology advances enabling large-scale clinical evidence generation.