Summary of 10X Genomics (TXG) 2025 Conference Call Company Overview - **Company**: 10X Genomics (TXG) - **Date of Conference**: May 13, 2025 Key Points Industry Context - The macroeconomic environment has changed significantly, impacting funding for customers, particularly in U.S. academic and government markets [4][10][12] - There is ongoing uncertainty regarding future funding and budget allocations, leading to cautious spending among customers [10][11][12] Financial Performance - The company reported robust growth in reactions and volumes for Chromium consumables, indicating strong fundamentals despite macro pressures [6][7] - The first quarter guidance was suspended due to uncertainty, but a quarterly guidance was provided with a projected growth of 1% from Q1 to Q2 [13][15] - The company experienced a 22% growth in China, indicating strong international performance [17] Product Development and Market Position - The introduction of new products aimed at lowering the price per reaction has driven growth in the single-cell market [6][38] - The Xenium platform is gaining traction, with customers increasingly recognizing its value alongside single-cell technologies [30][32] - The company is focused on expanding its product offerings and improving customer experience to maintain a competitive edge [44][46] Customer Insights and Trends - Customers are showing a preference for established brands during uncertain budget periods, which benefits 10X Genomics [48] - There is a growing demand for both single-cell and spatial technologies, with customers increasingly seeing them as complementary rather than competitive [30][31] Competitive Landscape - The competitive environment remains challenging, but 10X Genomics believes its product quality and customer service will help retain market share [44][46] - The company is actively addressing pricing concerns to remain competitive while ensuring product value [47][48] Future Outlook - The company is optimistic about the long-term growth potential in the biopharma sector, with plans to enhance commercial infrastructure and focus on routine use of its technologies [58][59][60] - Sustained progress is expected to take time, but there is confidence in achieving growth comparable to academic markets [60] Additional Insights - The company has made significant changes to its sales force, focusing on dedicated teams for biopharma accounts and Xenium instruments [49][50] - Cost-cutting measures were implemented, particularly in R&D, to maintain financial health without undermining sales efforts [52] This summary encapsulates the key insights and developments discussed during the conference call, highlighting the company's performance, market dynamics, and strategic direction.

Shares of 10x Genomics (TXG) have gained 14.7% over the past four weeks to close the last trading session at $9.49, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $14.79 indicates a potential upside of 55.9%.The mean estimate comprises 14 short-term price targets with a standard deviation of $3.79. While the lowest estimate of $11 indicates a 15.9% increase from the current pri ...

For the quarter ended March 2025, 10x Genomics (TXG) reported revenue of $154.88 million, up 9.8% over the same period last year. EPS came in at -$0.36, compared to -$0.50 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $133.25 million, representing a surprise of +16.24%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being -$0.45.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

10x Genomics (TXG) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to loss of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this life science technology company would post a loss of $0.32 per share when it actually produced a loss of $0.40, delivering a surprise of -25%.Over the last four quarters, the compa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-Q _____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-39035 10x Genomics, Inc. (Exact name of r ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $155 million, with $138 million excluding license and royalty revenue, down 2% year over year [5][20] - Total consumables revenue was $115.4 million, up 5%, while instrument revenue was $14.8 million, down 42% [20][21] - Gross profit for Q1 was $105.4 million, with gross margins increasing to 68% from 66% year over year [22] Business Line Data and Key Metrics Changes - Chromium consumables revenue was approximately flat at $84.1 million, while spatial consumables revenue increased by 18% to $31.2 million, driven by Xenium consumables [20][21] - Total instrument revenue saw a significant decline, with Chromium instrument revenue down 25% and spatial instrument revenue down 49% [21] Market Data and Key Metrics Changes - Revenue in the Americas decreased by 7% to $73.8 million, EMEA decreased by 8% to $31.9 million, while APAC increased by 22% to $32.4 million [22] - Instrument revenue declined across all geographies, although strong consumable sales helped offset the impact in APAC [22] Company Strategy and Development Direction - The company is navigating a challenging macro environment, withdrawing full-year revenue guidance and implementing quarterly guidance due to uncertainty in U.S. academic and government research funding [10][25] - A focus on cost-saving measures, including an 8% reduction in workforce, is aimed at maintaining a strong balance sheet while continuing to invest in key priorities [12][29] - The company is committed to long-term growth, with confidence in capturing large opportunities despite current challenges [19][30] Management's Comments on Operating Environment and Future Outlook - Management highlighted a deteriorating research funding environment, with significant impacts on customer purchasing behavior and project initiation [9][10] - There is optimism regarding the long-term potential of the company's products, particularly in single-cell and spatial biology, despite current market challenges [11][19] - The company is closely monitoring the evolving tariff landscape, with minimal reliance on China in its supply chain [27][28] Other Important Information - The company has completed a sales reorganization to enhance focus and coverage in the current environment [11] - Recent product launches have been well-received, contributing to increased usage and adoption among customers [14][15] Q&A Session Summary Question: Current backdrop and customer conversations - Management noted that customer conversations have become increasingly dire due to funding uncertainties, prompting cost-cutting measures among institutions [42][44] Question: Year outlook and instrumentation vs consumables - Management indicated that Q2 is expected to mirror Q1 trends, with pressure on CapEx in instrumentation but stable consumables performance [55][56] Question: Headcount reduction and OpEx initiatives - The company emphasized that the headcount reduction will lead to over $50 million in operating expense savings for 2025, while still retaining critical talent for growth [70][69] Question: Regional sales dynamics - Management acknowledged that while EMEA sales have declined, the fundamental business remains strong, and recent hiring in Europe is expected to improve performance [76][75] Question: Demand in APAC and potential pull forward - Strong underlying demand in APAC, particularly in China and Japan, was noted, with structural improvements contributing to robust performance [78][79] Question: Long-term growth opportunities in organoid research - Management expressed optimism about the potential for single-cell sequencing in organoid research, viewing it as a promising growth area [99][98] Question: Tariffs and demand in China - The company does not anticipate significant pull forward in demand due to tariffs, and it has strategies in place to mitigate potential impacts [108][107]

Financial Performance - Revenue for Q1 2025 was $154.9 million, a 10% increase from $141.0 million in Q1 2024, including $16.8 million from a patent litigation settlement[5] - Gross margin improved to 68% in Q1 2025 from 66% in Q1 2024, primarily due to higher license and royalty revenue and lower manufacturing costs[6] - Operating expenses decreased by 6% to $144.8 million in Q1 2025 from $154.4 million in Q1 2024, driven by a $9.2 million gain from the litigation settlement[7] - Net loss narrowed to $34.4 million in Q1 2025 compared to a net loss of $59.9 million in Q1 2024[8] - Revenue from consumables was $115.4 million in Q1 2025, up from $110.3 million in Q1 2024, while instrument revenue decreased significantly[20] Cash Position - Cash and cash equivalents and marketable securities totaled $426.9 million as of March 31, 2025[9] Cost Management - The company plans to reduce operating expenses by over $50 million in 2025, including an approximate 8% reduction in global workforce[10] Strategic Initiatives - A roadmap for new product launches was unveiled at the 2025 AGBT General Meeting, expanding capabilities across all platforms[10] - A partnership with Arc Institute was announced to develop the Arc Virtual Cell Atlas using Chromium Flex technology[10] Guidance and Outlook - The company has withdrawn its full-year revenue guidance due to uncertainties in U.S. academic and government research funding, providing Q2 2025 guidance of $138 million to $142 million[11]

PLEASANTON, Calif., May 8, 2025 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today reported financial results for the first quarter ended March 31, 2025.Recent Updates Revenue was $154.9 million for the first quarter. Excluding $16.8 million related to a patent litigation settlement, revenue was $138.1 million, a 2% decrease from the corresponding period of 2024, primarily driven by a significant decrease in instrument revenue. Ended the first quarter with c ...

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