10x Genomics to Participate in the 46th Annual TD Cowen Health Care Conference [Accessibility Statement] Skip NavigationPLEASANTON, Calif., Feb. 19, 2026 /PRNewswire/ -- [10x Genomics, Inc.](Nasdaq: TXG), a leader in single cell and spatial biology, announced today that members of its management team will participate in a fireside chat at the TD Cowen 46th Annual Health Care Conference on Tuesday, March 3, at 11:50 a.m. Eastern Time.Interested parties may access a live webcast of the fireside chat on the "I ...

Core Insights - Torex Gold Resources Inc. reported a transformational year in 2025, achieving significant milestones including the completion of the Media Luna Project and returning to strong free cash flow [2][4]. Financial Performance - The company achieved record annual revenue of $1.3 billion and record annual adjusted EBITDA of $730 million [4][6]. - Annual payable production reached 376,364 gold equivalent ounces, slightly below the guidance of 400,000 to 450,000 ounces [6]. - The average realized gold price for the year was $3,612 per ounce, contributing to a record all-in sustaining costs margin of 51% [4][6]. Operational Highlights - In Q4 2025, payable production was 114,844 gold equivalent ounces, with expectations to maintain production levels through 2026 [3][17]. - The Media Luna Project is on track to achieve steady-state production of 7,500 tonnes per day by mid-2026 [3][5]. - The company maintained a lost-time injury frequency of 0.07 per million hours worked, marking one of its safest years [6][19]. Capital Management - Torex executed an inaugural return of capital program, including a quarterly dividend of C$0.15 per share and repurchased over 825,000 shares during the year [9][11]. - The company ended the year with $426.3 million in available liquidity, including $119.5 million in cash [6][19]. Growth Strategy - Torex expanded its portfolio through acquisitions of Prime Mining and Reyna Silver, enhancing its growth potential in Northern Mexico and Nevada [2][6]. - The company plans to invest a record $77 million in exploration and drilling in 2026, focusing on near-mine opportunities [6][10]. CEO Transition - Jody Kuzenko will retire as President and CEO on June 17, 2026, with Andrew Snowden set to assume the role [7].

Core Insights - 10x Genomics reported revenue of $166.03 million for Q4 2025, reflecting a year-over-year increase of 0.6% and a slight surprise of +0.01% over the Zacks Consensus Estimate of $166.01 million [1] - The company posted an EPS of -$0.13, which is an improvement compared to -$0.40 from the previous year, resulting in an EPS surprise of +31.58% against the consensus estimate of -$0.19 [1] Revenue Breakdown - Services revenue reached $8.47 million, exceeding the four-analyst average estimate of $7.78 million, marking a year-over-year increase of +18.7% [4] - Instruments revenue was reported at $15.47 million, surpassing the three-analyst average estimate of $14.4 million, but showing a significant year-over-year decline of -36.5% [4] - Spatial consumables revenue amounted to $40.96 million, slightly above the $39.03 million average estimate, with a year-over-year increase of +14.4% [4] - Total consumables revenue was $141.75 million, exceeding the estimated $134.78 million, representing a year-over-year growth of +6.2% [4] - Instruments revenue in the spatial category was $9.36 million, above the average estimate of $7.98 million, but reflecting a year-over-year decrease of -30.3% [4] Stock Performance - Over the past month, shares of 10x Genomics have declined by -8.5%, in contrast to the Zacks S&P 500 composite's slight decrease of -0.3% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

分组1 - 10x Genomics reported a quarterly loss of $0.13 per share, better than the Zacks Consensus Estimate of a loss of $0.19, and improved from a loss of $0.40 per share a year ago, resulting in an earnings surprise of +31.58% [1] - The company achieved revenues of $166.03 million for the quarter ended December 2025, slightly surpassing the Zacks Consensus Estimate by 0.01%, and showing a year-over-year increase from $165.02 million [2] - 10x Genomics has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance in earnings expectations [2] 分组2 - The stock has gained approximately 17.4% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.4% [3] - The company's earnings outlook is crucial for investors, as it reflects current consensus earnings expectations and any recent changes in those expectations [4] - The estimate revisions trend for 10x Genomics was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell), suggesting expected underperformance in the near future [6] 分组3 - The current consensus EPS estimate for the upcoming quarter is -$0.28 on revenues of $142.23 million, and for the current fiscal year, it is -$0.88 on revenues of $609.12 million [7] - The Medical Info Systems industry, to which 10x Genomics belongs, is currently ranked in the bottom 33% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Financial Performance - Revenue for the year ended December 31, 2025, was $642.8 million, a 5% increase from $610.8 million in 2024[22] - The company has generated net losses of $43.5 million in 2025, an improvement from $182.6 million in 2024[22] - Revenue from single cell solutions decreased year-over-year from $407.5 million in 2024 to $385.9 million in 2025, adversely impacting financial results[131] - The company incurred net losses of $43.5 million and $182.6 million for the years ended December 31, 2025 and 2024, respectively, with an accumulated deficit of $1.5 billion as of December 31, 2025[116] - Price reductions and discounting may negatively impact financial results if not offset by increased sales volume or operational cost savings[85] - The company faces increased costs due to tariffs imposed by the United States, which may negatively impact financial results and margins[105] - Approximately 10% of the company's total revenue in 2025 came from its business in China, which could be materially impacted by trade restrictions[106] - The company has experienced increased operational costs due to the expiration of raw materials, which may cause delays in manufacturing[122] - The company has modified its commercial processes in 2024 to increase effectiveness, although these changes negatively impacted short-term financial results[110] - The company’s ability to achieve profitability is uncertain, as it continues to invest significantly in research and development[116] Market and Competition - The total addressable market for the company's solutions is estimated to be over $21 billion annually, with a serviceable addressable market of more than $13 billion[35][36] - The life sciences industry is highly competitive, with new competitors expected to continue emerging, increasing the intensity of competition[47] - The company faces significant competition from both established and early-stage companies in the life sciences research sector, which may affect market share[81] - The company is significantly dependent on revenue from its Chromium solutions, with potential risks if future products do not meet customer needs[131] - The company faces risks related to competition, pricing strategies, and the success of new product introductions, which could impact revenue generation[66] Product Development and Innovation - The company plans to focus on improving existing technologies and developing new solutions through both organic development and targeted acquisitions[37] - The development of new products or enhancements to existing products is critical, as failure to innovate could adversely impact business results[88] - The company anticipates that average selling prices for certain products will decline over time as it expands its portfolio with lower-priced instruments[85] - The company is investing in AI and machine learning technologies, but there are significant risks associated with their development and deployment[184] - The regulatory process for clinical products is costly and time-consuming, potentially delaying the commercialization of new products[101] Intellectual Property - The company owns or exclusively in-licenses over 1,598 issued or allowed patents and 1,123 pending patent applications as of December 31, 2025[54] - The company plans to pursue additional intellectual property protection, although there is no assurance that current or future patent applications will result in issued patents[60] - The company’s ability to protect intellectual property rights is crucial for maintaining competitive advantage and profitability[213] - The company relies on a combination of legal measures, including patents and trademarks, to protect its intellectual property, but these measures provide limited protection[214] - The company may face significant expenses and competitive disadvantages if it fails to maintain and enforce its intellectual property rights[215] Workforce and Operations - As of December 31, 2025, the commercial organization consists of 473 full-time employees, many with PhD degrees and significant industry experience[38] - As of December 31, 2025, the company employed a total of 1,178 individuals, with 332 in research and development and 473 in sales, marketing, and support[45] - The company has grown its employee count from 110 in 2015 to 1,178 by the end of 2025, indicating significant organizational growth[150] - The company faces intense competition for qualified personnel, particularly in the San Francisco Bay Area, which could hinder its ability to attract and retain key employees[155] - The company has experienced revenue growth historically, but revenue decreased year-over-year in 2024[147] Regulatory and Compliance - The company markets its products as "For Research Use Only," exempting them from certain FDA and EU IVDR compliance requirements[51] - The FDA's new regulations for Laboratory Developed Tests (LDTs) could impose additional compliance requirements, affecting product development and market strategy[206] - The EU IVDR imposes general safety and performance requirements for in vitro diagnostic products, which could increase compliance obligations for the company[202] - The company is currently not subject to FDA clearance as long as products are not intended for clinical use, but plans to develop products for diagnostic purposes, which may require regulatory approval[200] Funding and Financial Risks - A substantial portion of revenue is derived from sales to academic institutions and research organizations that rely heavily on U.S. academic and government funding, which is subject to annual appropriations and budgetary constraints[75] - The company is dependent on the availability of funding for research and development spending by research institutions, which could affect sales and financial performance[73] - In March 2025, the NIH terminated approximately 700 research grants totaling more than $2.4 billion, impacting funding for various scientific research projects[77] - The U.S. government threatened to freeze or cancel billions of dollars in federal funding to multiple institutions in 2025, potentially affecting purchases of products[78] - Delays or cancellations in U.S. academic and government funding could materially and adversely affect the company's business and financial condition[80] Supply Chain and Manufacturing - The company relies on single source suppliers for critical components, which poses risks to its ability to manufacture and deliver products[141] - Supply chain disruptions, including shortages of high-performance computing components, have adversely affected manufacturing capabilities and profit margins[145] - The company outsources manufacturing for its Chromium, Visium, and Xenium instruments to qualified contract manufacturers with ISO 13485 certification[43] - Manufacturing operations in Pleasanton, California, Singapore, and Taiwan are ISO 9001:2015 certified, covering design, development, manufacturing, distribution, service, and sales[41] - The company may face challenges in consistently manufacturing products to meet specifications and demand, which could negatively impact financial performance[125] Customer Relations and Market Dynamics - Sales to academic and government institutions represent the largest portion of direct sales revenue, with biopharmaceutical companies expected to grow as a revenue source in the future[39] - The complexity of data generated by products requires advanced analytics, and customers may struggle to derive actionable insights, potentially slowing product adoption[118] - The company may face challenges in providing high-quality customer service as it scales, which could affect its reputation and sales[170] - The company expects increased utilization of its customer service teams with the introduction of new products, which may require additional resources[171] Economic and Social Factors - Economic or social disruptions could negatively impact demand for the company's products, affecting its business operations[182] - Inflationary pressures and changes in foreign currency exchange rates could significantly affect financial results, with rising interest rates increasing the cost of capital[183] - Approximately 27% of the company's sales for the years ended December 31, 2025 and 2024 were denominated in currencies other than U.S. dollars[152] - The company does not currently maintain a program to hedge currency exposures, which could adversely affect its financial results due to fluctuations in exchange rates[153] Strategic Growth and Acquisitions - The company has made multiple acquisitions, including two in 2018 and 2020, and plans to continue investing in key technologies to facilitate product commercialization[150] - The company anticipates that future investments or acquisitions could lead to potentially dilutive equity issuances or increased debt, which may harm its financial condition[176] - Foreign acquisitions involve unique risks, including integration challenges across different cultures, currency risks, and regulatory approval considerations[175]

Financial Data and Key Metrics Changes - The company reported $166 million in revenue for Q4 2025, representing a 1% increase year-over-year and exceeding the high end of guidance [20][21] - Full-year revenue for 2025 was $599 million, excluding $44 million from patent litigation settlements [6][20] - Gross margin improved to 68% in Q4 2025 from 67% in the prior year, driven by lower inventory write-downs and reduced royalty costs [22] Business Line Data and Key Metrics Changes - Total consumables revenue increased by 6%, with single-cell consumables revenue up 3% and spatial consumables revenue up 14% [21] - Single-cell consumables volumes grew at a double-digit rate each quarter, primarily due to the adoption of the lower-cost FLEX assay [7][21] - Instrument revenue declined by 36%, with Chromium instruments down 44% and spatial instruments down 30% [21] Market Data and Key Metrics Changes - Revenue from the Americas declined by 6%, while EMEA and APAC regions grew by 7% and 9%, respectively [22] - The Americas faced challenges due to a subdued funding environment, while EMEA benefitted from late-quarter orders [22] Company Strategy and Development Direction - The company aims to leverage advancements in AI and biology measurement technologies to drive growth, focusing on large-scale studies and translational research [12][14] - Plans to enhance clinical applications of single-cell and spatial analysis through collaborations with academic medical centers [17][49] - The company is committed to continuous innovation and expects 2026 to be a pivotal year for new product capabilities [18] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging operating environment in 2025, with subdued customer spending and ongoing funding uncertainties impacting purchasing decisions [6][19] - Despite these challenges, the company is optimistic about future growth driven by strong demand for its solutions and a solid financial position [11][19] - The outlook for 2026 includes revenue guidance of $600 million to $625 million, reflecting a stable funding environment and anticipated growth in consumables [24] Other Important Information - The company increased its cash balance by over $100 million year-over-year, reflecting disciplined cost management [11][23] - The launch of the FLEX APEX assay is expected to drive significant adoption and new applications in the single-cell market [9][41] Q&A Session Summary Question: Can you comment on ordering patterns and expectations for academic and pharma? - Management indicated that the environment remains steady but cautious, with ongoing uncertainty in academic funding impacting customer sentiment [30] Question: Was volume growth enough to offset pricing in single-cell consumables? - Management noted that in Q4, single-cell consumables saw over 30% volume growth, contributing to overall revenue growth despite pricing pressures [36] Question: What are the expectations for the clinical translational space? - The company is excited about future clinical applications and is pursuing a hybrid strategy to enable clinical evidence generation while supporting existing customers [49] Question: How is the company addressing competitive dynamics? - Management expressed confidence in their competitive position, highlighting continuous innovation and the strong performance of the Xenium platform [77] Question: What are the plans for cash generated in 2026? - The company aims to maintain a strong balance sheet to pursue strategic investments and opportunities as they arise [62]

Financial Data and Key Metrics Changes - The company reported $166 million in revenue for Q4 2025, representing a 1% increase year-over-year and exceeding the high end of guidance [20][21] - Full-year revenue for 2025 was $599 million, excluding $44 million from patent litigation settlements [6][20] - Gross margin for Q4 was 68%, up from 67% in the prior year, driven by lower inventory write-downs and reduced royalty costs [22] - Operating expenses decreased by 18% in Q4, primarily due to lower legal and personnel costs [23] Business Line Data and Key Metrics Changes - Total consumables revenue increased by 6%, with single-cell consumables revenue up 3% and spatial consumables revenue up 14% [21] - Single-cell consumables volumes grew at a double-digit rate each quarter, driven by the adoption of newer, lower-cost products like Flex [7][21] - Spatial consumables revenue growth was driven by strong demand for Xenium, with existing customers increasing utilization [8][21] Market Data and Key Metrics Changes - Revenue from the Americas declined by 6%, while EMEA and APAC regions grew by 7% and 9%, respectively [22] - The Americas faced challenges due to a subdued academic and government funding environment, while EMEA performed better than expected due to late-quarter orders [22] Company Strategy and Development Direction - The company aims to leverage advancements in AI and biology measurement technologies to drive growth, focusing on large-scale studies and partnerships [12][14] - There is a strategic push into clinical applications, with collaborations to generate clinical evidence and support diagnostic applications [17][51] - The company plans to continue investing in innovation while managing costs effectively to strengthen its financial position [11][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment remained challenging, with subdued customer spending and ongoing funding uncertainties impacting purchasing decisions [6][19] - Despite these challenges, there is optimism about underlying demand and the potential for growth in 2026, with revenue guidance set at $600 million to $625 million [24][25] - Management expressed confidence in the company's position and the opportunities ahead, particularly in AI-driven projects and translational research [18][56] Other Important Information - The company increased its cash balance by over $100 million year-over-year, reflecting disciplined cost management [11][23] - The launch of the Flex Apex assay is expected to drive significant growth in single-cell applications [9][42] Q&A Session Summary Question: Can you comment on ordering patterns and expectations for academic and pharma? - Management indicated that the environment remains steady but cautious, with ongoing uncertainty in academic funding impacting customer sentiment [30] Question: How did volume growth and pricing impact single-cell consumables? - Management noted that reaction growth was 22% for the full year, with Q4 seeing over 30% volume growth due to the Flex assay [36] Question: What are the expectations for clinical translational space? - Management is excited about the potential for clinical applications and is pursuing initiatives to generate clinical evidence while also enabling existing customers [51] Question: How is the company addressing competitive dynamics? - Management feels confident in its competitive position, citing continuous innovation and strong customer feedback on products like Xenium [76] Question: What are the plans for cash generation and investment? - Management emphasized the importance of maintaining a strong balance sheet to pursue strategic opportunities and investments in innovation [63]

Financial Data and Key Metrics Changes - 10x Genomics reported $166 million in revenue for Q4 2025, representing a 1% increase year-over-year and exceeding the high end of guidance [18] - Full-year revenue for 2025 was $599 million, excluding $44 million from patent litigation settlements [4] - Gross margin improved to 68% in Q4 2025 from 67% in the prior year, driven by lower inventory write-downs and costs [20] - Operating expenses decreased by 18% in Q4 2025, reflecting cost discipline and efficiency [21] - Cash balance increased by $130 million year-over-year, ending 2025 with $523 million [21] Business Line Data and Key Metrics Changes - Total consumables revenue grew by 6%, with single-cell consumables revenue up 3% and spatial consumables revenue up 14% [19] - Single-cell consumables volumes grew at a double-digit rate each quarter, driven by the adoption of lower-cost products like FLEX [5] - Spatial consumables revenue growth was primarily driven by the success of the Xenium platform [6] Market Data and Key Metrics Changes - Revenue from the Americas declined by 6%, while EMEA and APAC regions grew by 7% and 9%, respectively [20] - The operating environment remained challenging, particularly in the U.S. academic and government funding sectors, impacting customer purchasing decisions [4][20] Company Strategy and Development Direction - The company is focused on continuous innovation and expanding its product offerings, particularly in single-cell and spatial technologies [10] - 10x Genomics aims to leverage advancements in AI and biology measurement technologies to drive growth [11] - The company is pursuing clinical applications for diagnostics, collaborating with academic medical centers to generate clinical evidence [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position amidst ongoing funding challenges, noting a gradual improvement in customer sentiment [27] - The outlook for 2026 includes revenue guidance of $600 million to $625 million, reflecting expectations of continued growth in single-cell and spatial consumables [22] - Management acknowledged the systemic turbulence in research funding dynamics but noted recent NIH budget approvals as a positive sign [22] Other Important Information - The company launched several new products in 2025, including the FLEX APEX assay, which has been well-received by customers [8] - The company is seeing strong demand for its Xenium platform, which is expected to continue driving growth in spatial analysis [10] Q&A Session Summary Question: Can you comment on ordering patterns and expectations for academic and pharma? - Management noted that the environment remains steady but cautious, with ongoing uncertainty in academic funding impacting purchasing decisions [27] Question: How did volume growth and pricing impact single-cell consumables? - Management indicated that while volume growth was strong, pricing dynamics are complex, with various factors influencing the overall revenue guidance for 2026 [31][35] Question: What are the expectations for clinical translational space? - Management highlighted a hybrid strategy to enable clinical evidence generation while also pursuing direct clinical applications [48][50] Question: How is the company addressing competitive dynamics? - Management expressed confidence in their competitive position, citing continuous innovation and strong customer sentiment for their products [76] Question: What is the outlook for the Visium platform? - Management acknowledged that while Visium did not grow in 2025, they will continue to support its applications while focusing on the growth of the Xenium platform [80]

Exhibit 99.1 10x Genomics Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Outlook for 2026 PLEASANTON, Calif. February 12, 2026 – 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today reported financial results for the fourth quarter and full year ended December 31, 2025 and provided its outlook for 2026. Recent Updates "In 2025, our team executed with discipline through a challenging environment while continuing to strengthen the fundamentals of the b ...

Core Insights - 10x Genomics reported a revenue of $166.0 million for Q4 2025, a 1% increase from Q4 2024, and a full-year revenue of $642.8 million, a 5% increase from 2024 [1][2] - The company ended 2025 with $523.4 million in cash and cash equivalents, an increase of $130.0 million from the previous year [1] - 10x Genomics provided a revenue guidance for 2026, expecting between $600 million to $625 million, indicating a potential growth of 0% to 4% over 2025 [1] Financial Performance - Q4 2025 gross margin was 68%, up from 67% in Q4 2024, attributed to lower inventory write-downs and costs [1] - Operating expenses for Q4 2025 were $132.6 million, an 18% decrease from $160.8 million in Q4 2024, mainly due to reduced legal and personnel expenses [1] - The operating loss for Q4 2025 was $19.5 million, significantly improved from a loss of $49.8 million in Q4 2024 [1] Annual Results - For the full year 2025, gross margin was 69%, compared to 68% in 2024, driven by higher license and royalty revenue [1] - Operating expenses for the full year 2025 decreased by 17% to $504.9 million from $609.0 million in 2024, influenced by a gain on litigation settlements [1] - The net loss for 2025 was $43.5 million, a significant reduction from a net loss of $182.6 million in 2024 [1] Strategic Initiatives - The company launched a study with Brigham & Women's Hospital to identify single cell blood-based signatures for autoimmune diseases [1] - A collaboration with Dana-Farber Cancer Institute was initiated to analyze patient tumor samples, marking the start of a multi-year research initiative [1] - Partnerships with the Cancer Research Institute and PharosAI aim to create large AI-ready datasets for cancer research [1]