10x Genomics Reports Second Quarter 2025 Financial Results
10x Genomics (NASDAQ: TXG) reported Q2 2025 financial results with total revenue of $172.9 million, including a $27.3 million patent litigation settlement. Excluding the settlement, revenue was $145.6 million, representing a 5% year-over-year decrease.
Key highlights include a $30 million acquisition of Scale Biosciences, improved gross margin of 72% (67% excluding license revenue), and net income of $34.5 million compared to a loss in the previous year. The company maintains a strong cash position of $447.3 million.
For Q3 2025, 10x Genomics projects revenue between $140-144 million, accounting for approximately $4 million in accelerated Chinese purchases due to potential tariff changes.
10x Genomics (NASDAQ: TXG) ha comunicato i risultati finanziari del secondo trimestre 2025 con un fatturato totale di 172,9 milioni di dollari, incluso un accordo per una controversia brevettuale di 27,3 milioni di dollari. Escludendo tale accordo, il fatturato è stato di 145,6 milioni di dollari, con una diminuzione del 5% rispetto all’anno precedente.
I punti salienti comprendono un’acquisizione da 30 milioni di dollari di Scale Biosciences, un miglioramento del margine lordo al 72% (67% escludendo i ricavi da licenze) e un utile netto di 34,5 milioni di dollari rispetto a una perdita nell’anno precedente. L’azienda mantiene una solida posizione di cassa pari a 447,3 milioni di dollari.
Per il terzo trimestre 2025, 10x Genomics prevede un fatturato compreso tra 140 e 144 milioni di dollari, includendo circa 4 milioni di dollari di acquisti anticipati dalla Cina dovuti a possibili modifiche tariffarie.
10x Genomics (NASDAQ: TXG) reportó los resultados financieros del segundo trimestre de 2025 con ingresos totales de 172,9 millones de dólares, incluyendo un acuerdo por litigio de patentes de 27,3 millones de dólares. Excluyendo este acuerdo, los ingresos fueron de 145,6 millones de dólares, lo que representa una disminución del 5% interanual.
Los aspectos destacados incluyen una adquisición de 30 millones de dólares de Scale Biosciences, una mejora en el margen bruto al 72% (67% sin contar los ingresos por licencias) y una ganancia neta de 34,5 millones de dólares en comparación con una pérdida el año anterior. La compañía mantiene una sólida posición de efectivo de 447,3 millones de dólares.
Para el tercer trimestre de 2025, 10x Genomics proyecta ingresos entre 140 y 144 millones de dólares, considerando aproximadamente 4 millones de dólares en compras anticipadas en China debido a posibles cambios arancelarios.
10x Genomics (NASDAQ: TXG)는 2025년 2분기 재무 결과를 발표했으며, 총 매출은 1억 7,290만 달러로, 이 중 2,730만 달러는 특허 소송 합의금입니다. 합의금을 제외한 매출은 1억 4,560만 달러로 전년 대비 5% 감소했습니다.
주요 내용으로는 3,000만 달러 규모의 Scale Biosciences 인수, 72%의 개선된 총이익률(라이선스 수익 제외 시 67%), 그리고 전년 손실에서 3,450만 달러의 순이익으로 전환한 점이 포함됩니다. 회사는 4억 4,730만 달러의 강력한 현금 보유고를 유지하고 있습니다.
2025년 3분기에는 잠재적인 관세 변경에 따른 중국에서의 약 400만 달러 조기 구매를 반영하여 1억 4,000만~1억 4,400만 달러의 매출을 예상하고 있습니다.
10x Genomics (NASDAQ : TXG) a publié ses résultats financiers du deuxième trimestre 2025, affichant un chiffre d’affaires total de 172,9 millions de dollars, incluant un règlement de litige sur un brevet de 27,3 millions de dollars. Hors règlement, le chiffre d’affaires s’élève à 145,6 millions de dollars, soit une baisse de 5 % par rapport à l’année précédente.
Les points clés comprennent une acquisition de 30 millions de dollars de Scale Biosciences, une marge brute améliorée à 72 % (67 % hors revenus de licences) et un bénéfice net de 34,5 millions de dollars contre une perte l’année précédente. L’entreprise conserve une solide trésorerie de 447,3 millions de dollars.
Pour le troisième trimestre 2025, 10x Genomics prévoit un chiffre d’affaires compris entre 140 et 144 millions de dollars, intégrant environ 4 millions de dollars d’achats anticipés en Chine en raison de potentielles modifications tarifaires.
10x Genomics (NASDAQ: TXG) meldete die Finanzergebnisse für das zweite Quartal 2025 mit einem Gesamtumsatz von 172,9 Millionen US-Dollar, einschließlich einer Patentstreitbeilegung in Höhe von 27,3 Millionen US-Dollar. Ohne diese Einigung betrug der Umsatz 145,6 Millionen US-Dollar, was einem Rückgang von 5 % gegenüber dem Vorjahr entspricht.
Zu den wichtigsten Highlights zählen eine 30 Millionen US-Dollar teure Übernahme von Scale Biosciences, eine verbesserte Bruttomarge von 72 % (67 % ohne Lizenzumsätze) und ein Nettogewinn von 34,5 Millionen US-Dollar im Vergleich zu einem Verlust im Vorjahr. Das Unternehmen hält eine starke Barreserve von 447,3 Millionen US-Dollar.
Für das dritte Quartal 2025 prognostiziert 10x Genomics einen Umsatz zwischen 140 und 144 Millionen US-Dollar, wobei etwa 4 Millionen US-Dollar an vorgezogenen chinesischen Käufen aufgrund möglicher Zolländerungen berücksichtigt werden.
- Net income of $34.5 million, compared to $37.9 million loss in prior year
- Improved gross margin to 72% from 68% year-over-year
- Strong cash position of $447.3 million, up $20 million from previous quarter
- Strategic acquisition of Scale Biosciences for $30 million to strengthen single cell analysis capabilities
- Successful patent litigation settlement resulting in $27.3 million revenue
- 5% year-over-year revenue decrease excluding litigation settlement
- Decline in instrument revenue
- Q3 guidance affected by $4 million pull-forward of Chinese orders due to tariff concerns
- Continued uncertainty in funding environment
Insights
10x Genomics reports mixed Q2 results with boosted figures from litigation settlement amid challenging market conditions while making strategic acquisitions.
Looking beneath the surface of 10x Genomics' Q2 results reveals a complex picture. The headline
The company's gross margin improvement to
The
Cash position remains solid at
The
Management's commentary about "continued uncertainty in the funding environment" and focus on "disciplined execution" signals ongoing caution about market conditions for life sciences tools, particularly in academia and biotech where funding constraints persist.
Recent Updates
- Revenue was
$172.9 million $27.3 million $145.6 million - Ended the second quarter with cash and cash equivalents and marketable securities of
$447.3 million $20 million - Entered into a definitive agreement to acquire Scale Biosciences for upfront cash and stock consideration of
$30 million - Began shipping Visium HD 3' and HD cell segmentation, expanding the Visium portfolio's capabilities by enabling high-resolution, high-sensitivity profiling across a wider range of applications.
- Announced a partnership with the Genome Institute of
Singapore on the TISHUMAP initiative, which will leverage Xenium and AI to uncover novel biomarkers and therapeutic targets for cancer and inflammatory diseases.
"The second quarter unfolded largely as anticipated," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "Amid continued uncertainty in the funding environment, we're encouraged by the resilience of our business and the dedication of our team. We're focused on disciplined execution, and remain confident in the strength of our technology, the momentum behind our platforms and the significant long-term opportunity in front of us."
Second Quarter 2025 Financial Results
Revenue was
Gross margin was
Operating expenses were
Operating income was
Net income was
Cash and cash equivalents and marketable securities were
Third Quarter 2025 Revenue Guidance
10x Genomics expects third quarter 2025 revenue to be in the range of
Webcast and Conference Call Information
10x Genomics will host a conference call to discuss the second quarter 2025 financial results, business developments and outlook after market close on Thursday, August 7, 2025 at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A webcast of the conference call can be accessed at http://investors.10xgenomics.com. The webcast will be archived and available for replay at least 45 days after the event.
About 10x Genomics
10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated research solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world's understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn, X, Facebook, Bluesky or YouTube.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements included in this press release, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc.'s partnerships, plans, positioning, product launches, organization, goals, opportunities, potential, specifications, costs, enthusiasm, trends and adoption of 10x Genomics, Inc.'s products and services, expected performance advantages and benefits of using 10x Genomics, Inc.'s products and services and 10x Genomics, Inc.'s financial performance and results of operations, including expectations regarding revenue and guidance as well as government policy and academic and government research funding. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management. Actual outcomes and results could differ materially from these statements due to a number of factors and such statements should not be relied upon as representing 10x Genomics, Inc.'s views as of any date subsequent to the date of this press release. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements provided to reflect any change in 10x Genomics' expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. The material risks and uncertainties that could affect 10x Genomics, Inc.'s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recently-filed 10-K for the fiscal year ended December 31, 2024, filed on February 13, 2025, and the company's quarterly reports on Form 10-Q for the quarter ended March 31, 2025, filed on May 9, 2025, and for the quarter ended June 30, 2025, to be filed with the Securities and Exchange Commission (SEC), and elsewhere in the documents 10x Genomics, Inc. files with the SEC from time to time.
Disclosure Information
10x Genomics uses filings with the Securities and Exchange Commission, its website (https://www.10xgenomics.com/), press releases, public conference calls, public webcasts and its social media accounts as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
Investors: investors@10xgenomics.com
Media: media@10xgenomics.com
10x Genomics, Inc. | |||||||
Condensed Consolidated Statements of Operations | |||||||
(Unaudited) | |||||||
(In thousands, except share and per share data) | |||||||
Three Months Ended | Six Months Ended | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Products and services revenue (1) | $ 145,157 | $ 152,990 | $ 282,980 | $ 293,995 | |||
License and royalty revenue (1) | 27,751 | 114 | 44,811 | 115 | |||
Revenue | 172,908 | 153,104 | 327,791 | 294,110 | |||
Cost of products and services revenue (2) | 47,824 | 48,884 | 97,262 | 96,976 | |||
Gross profit | 125,084 | 104,220 | 230,529 | 197,134 | |||
Operating expenses: | |||||||
Research and development (2) | 61,224 | 62,918 | 125,469 | 131,556 | |||
Selling, general and administrative (2) | 74,434 | 83,039 | 164,162 | 168,813 | |||
Gain on settlement | (40,700) | — | (49,900) | — | |||
Total operating expenses | 94,958 | 145,957 | 239,731 | 300,369 | |||
Income (loss) from operations | 30,126 | (41,737) | (9,202) | (103,235) | |||
Other income (expense): | |||||||
Interest income | 4,271 | 4,715 | 7,957 | 9,451 | |||
Interest expense | (3) | (1) | (3) | (2) | |||
Other income (expense), net | 2,603 | (56) | 4,739 | (1,096) | |||
Total other income | 6,871 | 4,658 | 12,693 | 8,353 | |||
Income (loss) before provision for income taxes | 36,997 | (37,079) | 3,491 | (94,882) | |||
Provision for income taxes | 2,459 | 818 | 3,311 | 2,964 | |||
Net income (loss) | $ 34,538 | $ (37,897) | $ 180 | $ (97,846) | |||
Net income (loss) per share, basic | $ 0.28 | $ (0.32) | $ — | $ (0.82) | |||
Net income (loss) per share, diluted | $ 0.28 | $ (0.32) | $ — | $ (0.82) | |||
Weighted-average shares used to compute net income | 123,755,409 | 120,066,972 | 123,183,924 | 119,461,485 | |||
Weighted-average shares used to compute net income | 124,509,720 | 120,066,972 | 124,258,150 | 119,461,485 | |||
(1) The following table represents revenue by source for the periods indicated (in thousands). Spatial products includes the Company's Visium and Xenium products: |
Three Months Ended | Six Months Ended | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Instruments | |||||||
Chromium | $ 5,727 | $ 8,792 | $ 11,640 | $ 16,642 | |||
Spatial | $ 8,770 | 15,060 | $ 17,672 | 32,663 | |||
Total instruments revenue | 14,497 | 23,852 | 29,312 | 49,305 | |||
Consumables | |||||||
Chromium | 85,788 | 94,108 | 169,897 | 178,035 | |||
Spatial | 36,397 | 29,254 | 67,644 | 55,662 | |||
Total consumables revenue | 122,185 | 123,362 | 237,541 | 233,697 | |||
Services | 8,475 | 5,776 | 16,127 | 10,993 | |||
Products and services revenue | 145,157 | 152,990 | $ 282,980 | $ 293,995 | |||
License and royalty revenue | 27,751 | 114 | $ 44,811 | $ 115 | |||
Total revenue | $ 172,908 | $ 153,104 | $ 327,791 | $ 294,110 | |||
The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands): |
Three Months Ended | Six Months Ended | ||||||
2025 | 2024 | 2025 | 2024 | ||||
$ 103,491 | $ 89,672 | $ 190,309 | $ 165,309 | ||||
2,667 | 3,419 | $ 6,419 | 7,412 | ||||
Total | 106,158 | 93,091 | 196,728 | 172,721 | |||
34,734 | 37,362 | 66,629 | 72,083 | ||||
23,170 | 13,738 | 40,053 | 27,662 | ||||
8,846 | 8,913 | 24,381 | 21,644 | ||||
Total | 32,016 | 22,651 | 64,434 | 49,306 | |||
Total revenue | $ 172,908 | $ 153,104 | $ 327,791 | $ 294,110 | |||
* Includes license and royalty revenue. | |||||||
(2) Includes stock-based compensation expense as follows: |
Three Months Ended | Six Months Ended | ||||||
(in thousands) | 2025 | 2024 | 2025 | 2024 | |||
Cost of revenue | $ 1,989 | $ 2,247 | $ 4,470 | $ 4,280 | |||
Research and development | 12,613 | 17,862 | 26,719 | 34,750 | |||
Selling, general and administrative | 12,643 | 18,383 | 27,132 | 35,591 | |||
Total stock-based compensation expense | $ 27,245 | $ 38,492 | $ 58,321 | $ 74,621 | |||
10x Genomics, Inc. | |||
Condensed Consolidated Balance Sheets | |||
(Unaudited) | |||
(In thousands) | |||
June 30, | December 31, | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 397,712 | $ 344,067 | |
Marketable securities | 49,549 | 49,335 | |
Accounts receivable, net | 49,977 | 87,862 | |
Other receivables | 69,090 | 606 | |
Inventory | 68,968 | 83,107 | |
Prepaid expenses and other current assets | 20,365 | 19,410 | |
Total current assets | 655,661 | 584,387 | |
Property and equipment, net | 239,710 | 252,648 | |
Operating lease right-of-use assets | 62,700 | 57,290 | |
Goodwill | 4,511 | 4,511 | |
Intangible assets, net | 14,714 | 15,671 | |
Other noncurrent assets | 2,674 | 4,129 | |
Total assets | $ 979,970 | $ 918,636 | |
Liabilities and stockholders' equity | |||
Current liabilities: | |||
Accounts payable | $ 15,938 | $ 12,909 | |
Accrued compensation and related benefits | 26,102 | 33,615 | |
Accrued expenses and other current liabilities | 39,063 | 41,165 | |
Deferred revenue | 21,449 | 20,658 | |
Operating lease liabilities | 9,669 | 9,286 | |
Total current liabilities | 112,221 | 117,633 | |
Operating lease liabilities, noncurrent | 77,075 | 73,327 | |
Deferred revenue, noncurrent | 11,270 | 12,513 | |
Other noncurrent liabilities | 6,125 | 5,029 | |
Total liabilities | 206,691 | 208,502 | |
Commitments and contingencies | |||
Stockholders' equity: | |||
Preferred stock | — | — | |
Common stock | 2 | 2 | |
Additional paid-in capital | 2,239,924 | 2,177,672 | |
Accumulated deficit | (1,466,867) | (1,467,047) | |
Accumulated other comprehensive income (loss) | 220 | (493) | |
Total stockholders' equity | 773,279 | 710,134 | |
Total liabilities and stockholders' equity | $ 979,970 | $ 918,636 | |
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SOURCE 10x Genomics, Inc.
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