05:29 AM EDT, 10/10/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

10x Genomics' ( TXG ) shares were down more than 26% in premarket activity Thursday after the company overnight said preliminary results showed a revenue decline of about 1% year over year to roughly $151.7 million for Q3 that ended Sept. 30.

Analysts polled by Capital IQ expect $162.3 million.

Q3 sales fell short of the company's expectations, CEO Serge Saxonov said.

"The previously announced modifications we made to our commercial processes and organization to increase effectiveness represented a significant change in how we engage with customers," Saxonov said. "The transition was more disruptive than anticipated, especially in the Americas."

Price: 15.40, Change: -5.41, Percent Change: -26.00