Biotech company 10x Genomics (NASDAQ:TXG) will be reporting earnings tomorrow after market hours. Here’s what to look for.

10x Genomics missed analysts’ revenue expectations by 5% last quarter, reporting revenues of $151.7 million, down 1.3% year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly.

Is 10x Genomics a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting 10x Genomics’s revenue to decline 13.3% year on year to $159.5 million, a reversal from the 17.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.11 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. 10x Genomics has missed Wall Street’s revenue estimates twice over the last two years.

Looking at 10x Genomics’s peers in the life sciences tools & services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Illumina posted flat year-on-year revenue, beating analysts’ expectations by 2.1%, and Bio-Techne reported revenues up 9%, topping estimates by 4.2%. Illumina traded down 9.6% following the results while Bio-Techne was up 3.3%.

Read our full analysis of Illumina’s results here and Bio-Techne’s results here.

Investors in the life sciences tools & services segment have had steady hands going into earnings, with share prices flat over the last month. 10x Genomics is down 21.7% during the same time and is heading into earnings with an average analyst price target of $20.07 (compared to the current share price of $12.26).

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.