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TXG

10x Genomics, Inc.

TXG

10x Genomics, Inc. • NASDAQ
$18.82 ▲ 0.37% (+0.07)
Market Cap $2.32 B
52w High $20.34
52w Low $6.78
Dividend Yield 0%
P/E -29.87
Volume 1.57M
Outstanding Shares 123.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $149.002M ▼ $132.549M ▲ $-27.472M ▼ -18.437% ▼ $-0.22 ▼ $-15.951M ▼
Q2-2025 $172.908M ▲ $94.958M ▼ $34.538M ▲ 19.975% ▲ $0.28 ▲ $46.651M ▲
Q1-2025 $154.883M ▼ $144.773M ▼ $-34.358M ▲ -22.183% ▲ $-0.28 ▲ $-23.692M ▲
Q4-2024 $165.021M ▲ $160.794M ▲ $-49.028M ▼ -29.71% ▼ $-0.4 ▼ $-37.816M ▼
Q3-2024 $151.654M $147.878M $-35.753M -23.575% $-0.3 $-23.686M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $482.084M ▲ $1.027B ▲ $241.031M ▲ $785.12M ▲
Q2-2025 $447.261M ▲ $979.97M ▲ $206.691M ▲ $773.279M ▲
Q1-2025 $426.905M ▲ $903.393M ▼ $196.498M ▼ $706.895M ▼
Q4-2024 $393.402M ▼ $918.636M ▼ $208.502M ▼ $710.134M ▼
Q3-2024 $398.159M $937.794M $214.99M $722.804M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-27.472M ▼ $43.214M ▲ $-8.801M ▼ $617K ▼ $34.997M ▲ $42.527M ▲
Q2-2025 $34.538M ▲ $17.708M ▼ $-939K ▲ $3.522M ▲ $20.651M ▼ $16.13M ▼
Q1-2025 $-34.358M ▲ $34.351M ▲ $-1.893M ▲ $422K ▼ $32.994M ▲ $32.458M ▲
Q4-2024 $-49.028M ▼ $-6.748M ▼ $-51.592M ▼ $4.517M ▲ $-54.092M ▼ $-9.464M ▼
Q3-2024 $-35.753M $21.641M $-3.618M $156K $18.335M $17.752M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Consumables
Consumables
 $260.00M ▲$120.00M ▼$120.00M ▲$130.00M ▲
Instruments
Instruments
 $50.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Licensing And Royalty Revenue
Licensing And Royalty Revenue
 $0 ▲$20.00M ▲$30.00M ▲$0 ▼
Product And Service Revenue
Product And Service Revenue
 $0 ▲$140.00M ▲$150.00M ▲$150.00M ▲
Service
Service
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past several years but has flattened more recently, suggesting the company may be in a transition period from rapid early adoption to a more measured growth phase. Gross profit remains healthy, which shows the core products have attractive economics once they are sold. However, operating losses have persisted every year, driven by high spending on research, sales, and infrastructure. Net losses are meaningful but have narrowed compared with the early pandemic period, indicating some improvement in cost discipline. Overall, it is still a scale‑up story: strong product demand and margins, but not yet at the point where revenue comfortably covers the full cost base.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid for a growth-oriented tools company. Total assets have stayed fairly stable, with only a mild drift down, suggesting no major balance sheet deterioration. Cash remains a significant portion of total assets, although cash levels are lower than they were a few years ago as the company has invested in growth. Debt is present but modest compared with shareholders’ equity, so financial leverage is limited and the capital structure leans conservative. Equity has edged down from its peak but still represents the majority of the funding base, which provides a cushion to absorb ongoing losses while the company scales.

Cash Flow

Cash Flow Cash flow from operations has been gradually improving and recently tipped into slightly positive territory, which is an encouraging sign that the underlying business is maturing. Free cash flow is still modestly negative because of ongoing investment in equipment and facilities, but the cash burn is far lower than in the early years. Capital spending peaked earlier and has since eased, suggesting the heaviest build‑out phase may be behind them. The overall picture is of a company moving closer to self-funding its growth, but still reliant on its existing cash reserves and careful cost control to bridge the gap to sustained positive free cash flow.

Competitive Edge

Competitive Edge 10x Genomics holds a leading position in single‑cell and spatial biology, with its platforms widely used in top research labs and biopharma companies. Its installed base of instruments and recurring consumables creates a sticky ecosystem, where once customers commit to the workflow they are likely to keep buying reagents and upgrades. A large and growing body of scientific publications using 10x systems reinforces their position as a de facto standard in many areas of advanced biology, which makes it harder for rivals to displace them. At the same time, the field is crowded with aggressive competitors and fast-moving innovation, and the company remains exposed to swings in academic and biopharma research budgets, which can affect instrument demand.

Innovation and R&D

Innovation and R&D Innovation is the core of 10x’s strategy. It consistently releases new platforms and chemistry upgrades, such as the recent GEM‑X technology, which improves sensitivity, throughput, and cost per cell. The company spans single‑cell, spatial transcriptomics, and in situ analysis through the Chromium, Visium, and Xenium lines, giving researchers an integrated toolkit rather than isolated products. Strong investment in R&D, backed by a sizable patent portfolio and active IP enforcement, helps sustain its technological lead but also keeps expenses high. Looking ahead, deeper spatial capabilities, expanded multi‑omics assays, and moves into drug discovery and translational research represent key opportunities, but they require continued heavy R&D and careful execution.

Summary

10x Genomics is a high‑innovation life sciences tools company that has translated cutting‑edge single‑cell and spatial biology technologies into a globally adopted platform. Financially, it combines healthy product margins and improving cash dynamics with ongoing operating losses and a still‑meaningful cash burn. The balance sheet is relatively strong, with ample equity and manageable debt, providing room to keep investing. Strategically, its competitive edge rests on technology leadership, a large installed base, and network effects in the research community, but it operates in a rapidly evolving and competitive market with sensitivity to research funding cycles. The central question going forward is how effectively it can convert its scientific leadership and product breadth into sustained revenue growth and operating leverage without overextending its cost base.

NEWS

November 18, 2025 · 9:00 AM UTC

New ASTRA Consortium Unites Asia-Pacific Scientists to Build Pan-Cancer Spatial Atlas Powered by 10x Genomics' Xenium

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November 11, 2025 · 4:05 PM UTC

10x Genomics to Participate in the Wolfe Research Healthcare Conference 2025

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November 6, 2025 · 4:05 PM UTC

10x Genomics Reports Third Quarter 2025 Financial Results

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October 29, 2025 · 9:00 AM UTC

10x Genomics Launches the Next Generation of Chromium Flex to Empower Scientists to Massively Scale Single Cell Research

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October 20, 2025 · 12:30 PM UTC

10x Genomics and Anthropic Partner to Make Single Cell and Spatial Analysis More Accessible Through Claude for Life Sciences

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