Recent News
On August 7, 2025 the company scheduled its second-quarter 2025 results release after market close and announced an acquisition to expand single‑cell scale capabilities; the acquisition aims to enhance the Chromium platform and broaden access to high‑throughput single‑cell analysis. In late July 2025 the stock received a Relative Strength rating upgrade from market data services, reflecting improved price performance over the prior 52 weeks. Additional announcements in August referenced strategic purchases to extend in‑situ and spatial sequencing capabilities.
Technical Analysis
Directional indicators present bearish pressure: DI+ declines while DI- shows a dip-and-reversal that counts as bearish, and ADX at 19.61 classifies trend strength as absent. Collectively, directional signals favor downward pressure rather than a trending breakout.
MACD registers -0.25 and trends downward with the MACD line below its signal at -0.08, a bearish momentum profile that fails to show a bullish crossover required for momentum confirmation.
MRO stands at -32.88 and trends lower; the oscillator’s negative reading indicates price sits below the modeled target, which commonly precedes corrective upward movement toward that target rather than continued extension below valuation.
RSI at 50.19 on a decreasing trend suggests neutral-to-soft momentum with room for either a pullback or a recovery; the reading does not signal an extreme condition but aligns with declining short-term strength.
Price sits beneath the 20‑day average ($12.76), 50‑day average ($13.24), and slightly below the 200‑day average ($11.84). The 12‑day EMA ($12.61) and 26‑day EMA ($12.93) both trend downward, reinforcing short‑term price weakness while the close ($11.72) trades below the lower 1x Bollinger band ($12.15), indicating compressed volatility with a price below recent statistical support.
Volatility measures present elevated beta readings—42‑day beta 2.74 and 52‑week beta 1.94—so any directional move will likely produce amplified price swings. Average volume sits near 2.53M over 10 days versus a 200‑day average near 3.16M, showing slightly lighter recent participation versus long‑term average.
Fundamental Analysis
Revenue displayed notable growth: year‑over‑year revenue growth stands at 35.64% while quarter‑over‑quarter revenue movement reads -289.45%. The YoY increase reflects expanding end‑market adoption; the QoQ decline reflects seasonal or timing effects in the quarter reported.
Profitability metrics present mixed strength. EBIT totals $37,000,000 and translates to an EBIT margin of 21.40%, slightly above the industry peer mean of 19.00% and industry peer median of 19.467%. Operating margin registers -6.115% and compares against the industry peer mean of 16.981%; the gap stems from non‑operating gains and expense timing differences that lift EBIT relative to operating income.
Cash and liquidity metrics show robust coverage: cash at $397,712,000 and cash plus short‑term investments at $447,261,000 support a current ratio of 584.26% and a quick ratio of 522.80%, indicating substantial short‑term liquidity versus current liabilities. The cash conversion cycle at 135.65 days sits near the industry peer mean of 132.44 days.
Return metrics remain modest: return on equity at 4.466% and return on assets at 3.668% reflect early‑stage capital deployment and investment in R&D ($61,224,000). Gross margin at 72.341% provides strong product-level profitability and supports operating leverage as revenue scales.
Valuation multiples present a varied picture: P/E at 41.92x, P/S at 9.00x, and price‑to‑book at 2.01x. Free cash flow yield equals 1.04% while enterprise multiple registers 25.64x. WMDST values the stock as under‑valued based on the firm’s free cash dynamics, cash position, and margin profile despite elevated multiples on revenue‑adjusted metrics.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-07 |
| NEXT REPORT DATE: | 2025-11-06 |
| CASH FLOW | Begin Period Cash Flow | $ 377.1 M |
| Operating Cash Flow | $ 17.7 M | |
| Capital Expenditures | $ -1.58 M | |
| Change In Working Capital | $ -53.69 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 20.7 M | |
| End Period Cash Flow | $ 397.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 172.9 M | |
| Forward Revenue | $ -47.50 M | |
| COSTS | ||
| Cost Of Revenue | $ 47.8 M | |
| Depreciation | $ 9.7 M | |
| Depreciation and Amortization | $ 9.7 M | |
| Research and Development | $ 61.2 M | |
| Total Operating Expenses | $ 183.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 125.1 M | |
| EBITDA | $ 46.7 M | |
| EBIT | $ 37.0 M | |
| Operating Income | $ -10.57 M | |
| Interest Income | $ 4.3 M | |
| Interest Expense | $ 3.0 K | |
| Net Interest Income | $ 4.3 M | |
| Income Before Tax | $ 37.0 M | |
| Tax Provision | $ 2.5 M | |
| Tax Rate | 6.646 % | |
| Net Income | $ 34.5 M | |
| Net Income From Continuing Operations | $ 34.5 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.08 | |
| EPS Actual | $ 0.48 | |
| EPS Difference | $ 0.56 | |
| EPS Surprise | 700.0 % | |
| Forward EPS | $ -0.30 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 980.0 M | |
| Intangible Assets | $ 19.2 M | |
| Net Tangible Assets | $ 754.1 M | |
| Total Current Assets | $ 655.7 M | |
| Cash and Short-Term Investments | $ 447.3 M | |
| Cash | $ 397.7 M | |
| Net Receivables | $ 50.0 M | |
| Inventory | $ 69.0 M | |
| Long-Term Investments | $ 2.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 15.9 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 112.2 M | |
| Net Debt | — | |
| Total Debt | $ 86.7 M | |
| Total Liabilities | $ 206.7 M | |
| EQUITY | ||
| Total Equity | $ 773.3 M | |
| Retained Earnings | $ -1.47 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 6.21 | |
| Shares Outstanding | 124.442 M | |
| Revenue Per-Share | $ 1.39 | |
| VALUATION | Market Capitalization | $ 1.6 B |
| Enterprise Value | $ 1.2 B | |
| Enterprise Multiple | 25.64 | |
| Enterprise Multiple QoQ | -169.52 % | |
| Enterprise Multiple YoY | -129.415 % | |
| Enterprise Multiple IPRWA | high: 142.585 median: 72.241 mean: 71.869 TXG: 25.64 low: -148.838 |
|
| EV/R | 6.918 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.267 | |
| Asset To Liability | 4.741 | |
| Debt To Capital | 0.101 | |
| Debt To Assets | 0.089 | |
| Debt To Assets QoQ | -0.135 % | |
| Debt To Assets YoY | 280.241 % | |
| Debt To Assets IPRWA | high: 0.847 median: 0.348 mean: 0.327 TXG: 0.089 low: 0.051 |
|
| Debt To Equity | 0.112 | |
| Debt To Equity QoQ | -0.971 % | |
| Debt To Equity YoY | 275.309 % | |
| Debt To Equity IPRWA | high: 3.117 median: 0.697 mean: 0.675 TXG: 0.112 low: 0.067 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.013 | |
| Price To Book QoQ | 16.581 % | |
| Price To Book YoY | -44.795 % | |
| Price To Book IPRWA | high: 8.583 mean: 4.052 median: 3.432 TXG: 2.013 low: 0.246 |
|
| Price To Earnings (P/E) | 41.919 | |
| Price To Earnings QoQ | -218.404 % | |
| Price To Earnings YoY | -161.207 % | |
| Price To Earnings IPRWA | high: 111.763 mean: 80.748 median: 79.394 TXG: 41.919 low: -75.925 |
|
| PE/G Ratio | -0.21 | |
| Price To Sales (P/S) | 9.003 | |
| Price To Sales QoQ | 14.235 % | |
| Price To Sales YoY | -47.795 % | |
| Price To Sales IPRWA | high: 37.916 mean: 17.239 median: 15.972 TXG: 9.003 low: 0.528 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -32.843 | |
| Forward PE/G | 0.164 | |
| Forward P/S | -32.769 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -18.081 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.184 | |
| Asset Turnover Ratio QoQ | 8.005 % | |
| Asset Turnover Ratio YoY | 11.09 % | |
| Asset Turnover Ratio IPRWA | TXG: 0.184 high: 0.173 mean: 0.118 median: 0.108 low: 0.038 |
|
| Receivables Turnover | 3.373 | |
| Receivables Turnover Ratio QoQ | 52.89 % | |
| Receivables Turnover Ratio YoY | 101.01 % | |
| Receivables Turnover Ratio IPRWA | TXG: 3.373 high: 2.963 mean: 1.346 median: 1.273 low: 0.962 |
|
| Inventory Turnover | 0.666 | |
| Inventory Turnover Ratio QoQ | 6.255 % | |
| Inventory Turnover Ratio YoY | 16.748 % | |
| Inventory Turnover Ratio IPRWA | high: 2.37 median: 1.196 mean: 1.033 TXG: 0.666 low: 0.187 |
|
| Days Sales Outstanding (DSO) | 27.053 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 135.65 | |
| Cash Conversion Cycle Days QoQ | -12.569 % | |
| Cash Conversion Cycle Days YoY | -23.667 % | |
| Cash Conversion Cycle Days IPRWA | high: 448.101 TXG: 135.65 mean: 132.437 median: 107.055 low: 51.486 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.318 | |
| CapEx To Revenue | -0.009 | |
| CapEx To Depreciation | -0.164 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 773.3 M | |
| Net Invested Capital | $ 773.3 M | |
| Invested Capital | $ 773.3 M | |
| Net Tangible Assets | $ 754.1 M | |
| Net Working Capital | $ 543.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 3.986 | |
| Current Ratio | 5.843 | |
| Current Ratio QoQ | 8.743 % | |
| Current Ratio YoY | 11.997 % | |
| Current Ratio IPRWA | high: 12.395 TXG: 5.843 mean: 2.221 median: 1.933 low: 0.756 |
|
| Quick Ratio | 5.228 | |
| Quick Ratio QoQ | 11.699 % | |
| Quick Ratio YoY | 18.238 % | |
| Quick Ratio IPRWA | high: 7.325 TXG: 5.228 mean: 1.707 median: 1.496 low: 0.701 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 1.859 | |
| Cost Of Debt | 0.0 % | |
| Interest Coverage Ratio | 12333.333 | |
| Interest Coverage Ratio QoQ | -173.619 % | |
| Interest Coverage Ratio YoY | -133.263 % | |
| Interest Coverage Ratio IPRWA | TXG: 12333.333 high: 33.857 mean: 7.21 median: 5.23 low: -23.105 |
|
| Operating Cash Flow Ratio | 0.52 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 24.0 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 8.477 % | |
| Revenue Growth | 11.638 % | |
| Revenue Growth QoQ | -289.451 % | |
| Revenue Growth YoY | 35.641 % | |
| Revenue Growth IPRWA | high: 16.567 % TXG: 11.638 % mean: 4.913 % median: 4.728 % low: -0.773 % |
|
| Earnings Growth | -200.0 % | |
| Earnings Growth QoQ | 566.667 % | |
| Earnings Growth YoY | 455.556 % | |
| Earnings Growth IPRWA | high: 71.304 % mean: 5.931 % median: 4.078 % low: -61.905 % TXG: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 72.341 % | |
| Gross Margin QoQ | 6.259 % | |
| Gross Margin YoY | 6.273 % | |
| Gross Margin IPRWA | high: 89.231 % TXG: 72.341 % mean: 46.375 % median: 40.612 % low: 3.787 % |
|
| EBIT Margin | 21.399 % | |
| EBIT Margin QoQ | -198.918 % | |
| EBIT Margin YoY | -188.36 % | |
| EBIT Margin IPRWA | high: 65.47 % TXG: 21.399 % median: 19.467 % mean: 19.002 % low: -167.282 % |
|
| Return On Sales (ROS) | -6.115 % | |
| Return On Sales QoQ | -71.733 % | |
| Return On Sales YoY | -74.75 % | |
| Return On Sales IPRWA | high: 40.537 % median: 17.652 % mean: 16.981 % TXG: -6.115 % low: -167.282 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 16.1 M | |
| Free Cash Flow Yield | 1.036 % | |
| Free Cash Flow Yield QoQ | -61.038 % | |
| Free Cash Flow Yield YoY | 656.204 % | |
| Free Cash Flow Yield IPRWA | high: 13.177 % TXG: 1.036 % median: 0.637 % mean: 0.589 % low: -16.613 % |
|
| Free Cash Growth | -50.305 % | |
| Free Cash Growth QoQ | -88.644 % | |
| Free Cash Growth YoY | -57.874 % | |
| Free Cash Growth IPRWA | high: 206.094 % median: 206.094 % mean: 120.763 % TXG: -50.305 % low: -222.423 % |
|
| Free Cash To Net Income | 0.467 | |
| Cash Flow Margin | 33.76 % | |
| Cash Flow To Earnings | 1.69 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.668 % | |
| Return On Assets QoQ | -197.269 % | |
| Return On Assets YoY | -189.66 % | |
| Return On Assets IPRWA | high: 3.831 % TXG: 3.668 % mean: 1.71 % median: 1.615 % low: -14.729 % |
|
| Return On Capital Employed (ROCE) | 4.264 % | |
| Return On Equity (ROE) | 0.045 | |
| Return On Equity QoQ | -191.893 % | |
| Return On Equity YoY | -185.327 % | |
| Return On Equity IPRWA | high: 0.104 TXG: 0.045 mean: 0.035 median: 0.032 low: -0.217 |
|
| DuPont ROE | 4.667 % | |
| Return On Invested Capital (ROIC) | 4.467 % | |
| Return On Invested Capital QoQ | -219.279 % | |
| Return On Invested Capital YoY | -45.338 % | |
| Return On Invested Capital IPRWA | high: 5.983 % TXG: 4.467 % mean: 2.407 % median: 2.332 % low: -17.594 % |
|