10X Genomics reported a solid third quarter, exceeding revenue expectations with $149 million driven by strong demand for both single-cell and spatial biology products despite ongoing macroeconomic challenges.

• Total revenue of $149 million surpassed guidance, reflecting strong execution amid macro pressures.
• Significant year-over-year growth in spatial consumables, particularly for Xenium, continued to drive momentum.
• Expansion of product offerings, including new Chromium Flex and Xenium protein, is anticipated to enhance market adoption and streamline workflows.
• Ended the quarter with a robust $482 million cash position, ensuring flexibility for strategic investments.
• Customer sentiment indicates sustained cautious spending behavior, particularly concerning capital expenditures.