Core Insights - 10x Genomics' Xenium In Situ platform was utilized in a study published in the Journal of Dental Research, providing new insights into the cellular mechanisms involved in secondary palate formation [1][2] - The study highlights the role of the Pax9 protein as a transcription factor in Wnt signaling, which is crucial for embryonic development [2][3] Company Overview - 10x Genomics is a leader in single cell and spatial biology, offering integrated solutions that include instruments, consumables, and software to enhance biological research [8][9] - The company's products are instrumental in advancing research across various fields, including oncology, immunology, and neuroscience, contributing to significant breakthroughs in understanding health and disease [9] Research Findings - The study revealed that the Xenium platform allowed for higher spatial resolution in gene expression analysis, enhancing the understanding of signaling pathways in palate development [3][4] - Researchers found significant differences in spatial gene expression between wild-type and Pax9-deficient mice, indicating Pax9's role in progenitor cell differentiation and maturation [6][7] - The analysis suggested that disrupted Wnt signaling due to loss of Pax9 expression affects proper bone formation, which could lead to potential therapeutic strategies for cleft palate anomalies [4][6]

New 5,000-plex gene panel increases plex by an order of magnitude and delivers industry-leading speed and throughput Key features of the new high-plex Xenium Prime 5K assay include: About 10x Genomics 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 fall under the "safe harbor" provisi ...

Core Viewpoint - Torex Gold Resources Inc. has outlined a multi-year exploration strategy for its Morelos Property, aiming to enhance mineral resources, achieve new discoveries, and extend the mine life beyond 2033 to ensure stable production and cash flow [2][3][6]. Exploration Strategy Overview - The Morelos Property spans 29,000 hectares within the Guerrero Gold Belt, featuring the ELG Mine Complex and Media Luna Project. The company has invested an average of $31 million annually in drilling and resource expansion since 2021, with a budget of $30 million for 2024 [6][7]. - The exploration strategy aims to maintain over 450,000 gold equivalent ounces (oz AuEq) of annual production beyond 2027 and to make at least one new discovery in the coming years [7][8]. Target Areas - The exploration strategy focuses on three main areas: 1. Extending the mine life of ELG Underground and Media Luna through infill and near-mine step-out drilling [7]. 2. Expanding resources within the Media Luna Cluster, including Media Luna, EPO, Media Luna West, Media Luna East, and Todos Santos [7]. 3. Advancing new exploration targets such as El Naranjo, Atzcala, Esperanza, Querenque, Tecate, El Olvido, and Victoria [7][8]. Geological Understanding - The company has identified three dominant styles of mineralization at Morelos: skarn, intermediate sulphidation (IS), and carbonate replacement deposits (CRD). This evolving understanding supports the potential for new discoveries [8][25]. Exploration Pipeline - The exploration pipeline includes various stages from target selection to resource delineation. The company aims to advance each target based on economic potential and strategic objectives [9][10]. - The 2023 drilling program successfully expanded Measured & Indicated Resources by 570 thousand oz AuEq, leading to an increase in Proven & Probable Reserves by 280 thousand oz AuEq, extending the mine life of ELG Underground by two years through 2028 [11][12]. Regional Exploration - A budget of $3 million is allocated for regional exploration in 2024, with plans for 3,000 meters of intermediate drill testing at El Naranjo to delineate geological features [21][22]. - The company is also exploring potential extensions to structural corridors on the north side of the Balsas River, similar to those at the ELG deposit [22]. Longer-Dated Targets - Other promising targets include Querenque, Tecate, Esperanza, El Olvido, and Victoria, which will be evaluated and advanced as appropriate in the exploration pipeline over the coming years [24][48].

The Xenium Prime 5K assay, optimized for human and mouse species, is now available for preorder and is expected to ship next month. 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 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 resol ...

Torex Gold Releases 2023 Responsible Gold Mining Report Report shines a spotlight on continued excellence in ESG performance and disclosure May 21, 2024 6:00 PM EDT | Source: Torex Gold Resources Inc. (All amounts expressed in U.S. dollars unless otherwise stated) Toronto, Ontario--(Newsfile Corp. - May 21, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) today released its 2023 Responsible Gold Mining Report (the "Report") titled At the Heart of Who we Are, the Company's ninth annual ...

Have you evaluated the performance of 10x Genomics' (TXG) international operations for the quarter ending March 2024? Given the extensive global presence of this life science technology company, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become ...

10x Genomics, Inc. (NASDAQ:TXG) Q1 2024 Earnings Conference Call April 30, 2024 4:30 PM ET Company Participants Cassie Corneau - Director of Investor Relations & Strategic Finance Serge Saxonov - Chief Executive Officer & Co-Founder Justin McAnear - Chief Financial Officer Conference Call Participants Mason Carrico - Stephens, Inc. Patrick Donnelly - Citigroup Daniel Arias - Stifel Financial Doug Schenkel - Wolfe Research Dan Brennan - TD Cowen Matt Larew - William Blair Matthew Sykes - Goldman Sachs Subbu ...

10x Genomics (TXG) reported $141.01 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 5%. EPS of -$0.50 for the same period compares to -$0.44 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $142.04 million, representing a surprise of -0.73%. The company delivered an EPS surprise of -8.70%, with the consensus EPS estimate being -$0.46.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents 10x Genomics, Inc.'s unaudited condensed consolidated financial statements for Q1 2024, covering balance sheets, operations, comprehensive loss, equity, cash flows, and detailed notes - Financial statements are unaudited and prepared in accordance with U.S. GAAP, with certain information and footnote disclosures condensed or omitted compared to annual statements[32](index=32&type=chunk) - Management believes all necessary normal recurring adjustments are reflected in the financial statements[32](index=32&type=chunk) [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2024 | December 31, 2023 | | :----------------------------- | :------------- | :---------------- | | Total assets | $922,913 | $965,143 | | Total liabilities | $204,079 | $224,100 | | Total stockholders' equity | $718,834 | $741,043 | | Cash and cash equivalents | $355,781 | $359,284 | | Marketable securities | $16,033 | $29,411 | | Accounts receivable, net | $91,305 | $114,832 | | Inventory | $83,189 | $73,706 | - Total assets decreased by **$42.2 million**, and total stockholders' equity decreased by **$22.2 million** from December 31, 2023, to March 31, 2024[18](index=18&type=chunk) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change (in thousands) | YoY Change (%) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------------------------ | :------------- | | Revenue | $141,006 | $134,285 | $6,721 | 5.0% | | Cost of revenue | $48,092 | $35,895 | $12,197 | 34.0% | | Gross profit | $92,914 | $98,390 | $(5,476) | (5.6)% | | Loss from operations | $(61,498) | $(51,988) | $(9,510) | 18.3% | | Net loss | $(59,949) | $(50,747) | $(9,202) | 18.1% | | Net loss per share, basic and diluted | $(0.50) | $(0.44) | $(0.06) | 13.6% | - Net loss increased by **18.1%** year-over-year, primarily due to higher cost of revenue and operating expenses, despite a **5.0%** increase in revenue[20](index=20&type=chunk) [Condensed Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Condensed Consolidated Statements of Comprehensive Loss Highlights (in thousands) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change (in thousands) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------------------------ | | Net loss | $(59,949) | $(50,747) | $(9,202) | | Other comprehensive income (loss), net of tax | $(27) | $2,856 | $(2,883) | | Comprehensive loss | $(59,976) | $(47,891) | $(12,085) | - Comprehensive loss increased by **$12.1 million** year-over-year, driven by the higher net loss and a negative foreign currency translation adjustment in 2024[23](index=23&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Condensed Consolidated Statements of Stockholders' Equity Highlights (in thousands) | Metric | December 31, 2023 | March 31, 2024 | Change (in thousands) | | :----------------------------- | :---------------- | :------------- | :-------------------- | | Total Stockholders' Equity | $741,043 | $718,834 | $(22,209) | | Accumulated Deficit | $(1,284,420) | $(1,344,369) | $(59,949) | | Additional Paid-in Capital | $2,025,890 | $2,063,657 | $37,767 | - Total stockholders' equity decreased by **$22.2 million**, primarily due to the net loss incurred during the period, partially offset by an increase in additional paid-in capital from stock-based compensation[26](index=26&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Activity | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change (in thousands) | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | :------------------------ | | Net cash used in operating activities | $(15,725) | $(4,125) | $(11,600) | | Net cash provided by investing activities | $10,632 | $119,956 | $(109,324) | | Net cash provided by (used in) financing activities | $1,638 | $(3,414) | $5,052 | | Net increase (decrease) in cash and cash equivalents | $(3,503) | $112,441 | $(115,944) | | Cash and cash equivalents at end of period | $355,781 | $339,794 | $15,987 | - The company experienced a net decrease in cash and cash equivalents of **$3.5 million** in Q1 2024, a significant shift from a net increase of **$112.4 million** in Q1 2023, primarily due to increased cash used in operating activities and lower cash provided by investing activities[29](index=29&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Detailed disclosures and explanations for the unaudited condensed consolidated financial statements, covering business, accounting policies, and key financial items [1. Description of Business and Basis of Presentation](index=11&type=section&id=1.%20Description%20of%20Business%20and%20Basis%20of%20Presentation) - 10x Genomics, Inc. is a life sciences technology company focused on innovative products and solutions for interrogating biological systems, including Chromium and Spatial instruments, consumables, and software[31](index=31&type=chunk) - The accompanying condensed consolidated financial statements are unaudited, prepared in accordance with U.S. GAAP, and include normal recurring adjustments[32](index=32&type=chunk) [2. Summary of Significant Accounting Policies](index=11&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) - There were no material changes in the company's significant accounting policies during the three months ended March 31, 2024[34](index=34&type=chunk) - Revenue from product sales is recognized when control is transferred (generally upon shipment), while extended warranty revenue is recognized ratably over the service period[35](index=35&type=chunk) - The company is evaluating the impact of new accounting pronouncements, including ASU No. 2023-09 (Income Taxes) and SEC Final Rule No. 33-11275 (Climate-Related Disclosures)[42](index=42&type=chunk)[43](index=43&type=chunk) [3. Other Financial Statement Information](index=12&type=section&id=3.%20Other%20Financial%20Statement%20Information) Available-for-sale Securities (March 31, 2024, in thousands) | Category | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | | :-------------------- | :------------- | :--------------------- | :---------------------- | :--------- | | Money market funds | $345,662 | $— | $— | $345,662 | | Corporate debt securities | $5,862 | $— | $(14) | $5,848 | | Government debt securities | $9,382 | $— | $(31) | $9,351 | | Asset-backed securities | $841 | $— | $(7) | $834 | | **Total** | **$361,747** | **$—** | **$(52)** | **$361,695** | Inventory (in thousands) | Category | March 31, 2024 | December 31, 2023 | | :------------------ | :------------- | :---------------- | | Purchased materials | $39,159 | $34,484 | | Work in progress | $20,552 | $21,975 | | Finished goods | $23,478 | $17,247 | | **Total Inventory** | **$83,189** | **$73,706** | Revenue by Source (in thousands) | Category | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change (%) | | :-------------------- | :-------------------------------- | :-------------------------------- | :------------- | | Instruments | $25,453 | $19,176 | 33.0% | | Consumables | $110,335 | $112,378 | (1.8)% | | Services | $5,218 | $2,731 | 91.0% | | **Total Revenue** | **$141,006** | **$134,285** | **5.0%** | Revenue by Geography (in thousands) | Region | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change (%) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------------- | | Americas | $79,630 | $78,796 | 1.1% | | Europe, Middle East and Africa | $34,721 | $28,422 | 22.2% | | Asia-Pacific | $26,655 | $27,067 | (1.5)% | | **Total Revenue** | **$141,006** | **$134,285** | **5.0%** | - Impairment charges of **$2.1 million** were recorded in Q1 2024 related to computer equipment and software due to the discontinuation of a productivity engineering project[49](index=49&type=chunk)[51](index=51&type=chunk) [4. Commitments and Contingencies](index=15&type=section&id=4.%20Commitments%20and%20Contingencies) Operating Lease Liabilities (March 31, 2024, in thousands) | Period | Operating Leases | | :------------------------------------------ | :--------------- | | 2024 (excluding the three months ended March 31, 2024) | $12,385 | | 2025 | $14,828 | | 2026 | $15,377 | | 2027 | $15,584 | | 2028 | $15,747 | | Thereafter | $40,655 | | **Total lease payments** | **$114,576** | | Less: imputed interest | $(22,400) | | **Present value of operating lease liabilities** | **$92,176** | - The company is regularly involved in intellectual property disputes, including ongoing litigation with NanoString, Vizgen, Parse, and Curio[61](index=61&type=chunk)[142](index=142&type=chunk) - A jury found NanoString willfully infringed patents and awarded 10x Genomics over **$31 million** in damages in November 2023; however, post-trial motions are stayed due to NanoString's Chapter 11 bankruptcy filing[62](index=62&type=chunk) - The Munich Regional Court issued a permanent injunction against NanoString in Germany for infringing the EP928 patent, though a temporary stay was granted on appeal, conditioned on a security deposit not yet posted[69](index=69&type=chunk) [5. Capital Stock](index=19&type=section&id=5.%20Capital%20Stock) - As of March 31, 2024, there were **105,644,016** shares of Class A common stock and **14,056,833** shares of Class B common stock outstanding[88](index=88&type=chunk) - No Class B common stock was converted to Class A common stock during the three months ended March 31, 2024, compared to **600,000** shares in the same period of 2023[90](index=90&type=chunk) [6. Equity Incentive Plans](index=20&type=section&id=6.%20Equity%20Incentive%20Plans) Stock-based Compensation Expense (in thousands) | Category | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change (%) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------------- | | Cost of revenue | $2,033 | $1,461 | 39.1% | | Research and development | $16,888 | $17,780 | (5.0)% | | Selling, general and administrative | $17,208 | $22,860 | (24.7)% | | **Total stock-based compensation expense** | **$36,129** | **$42,101** | **(14.2)%** | - In March 2024, **219,168** Performance Stock Units (PSUs) were granted, with vesting tied to a two-year revenue Compound Annual Growth Rate (CAGR) and a three-year relative Total Shareholder Return (TSR)[94](index=94&type=chunk)[101](index=101&type=chunk) - No shares of Class A common stock were issued under the 2019 Employee Stock Purchase Plan (ESPP) during the three months ended March 31, 2024 or 2023[100](index=100&type=chunk) [7. Net Loss Per Share](index=21&type=section&id=7.%20Net%20Loss%20Per%20Share) Anti-dilutive Common Stock Equivalents (March 31, 2024 and 2023) | Category | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Stock options to purchase common stock | 5,604,160 | 7,556,361 | | Restricted stock units | 5,578,818 | 5,871,150 | | Shares committed under ESPP | 116,883 | 100,253 | | **Total** | **11,299,861** | **13,527,764** | - Potentially dilutive common stock equivalents were excluded from diluted net loss per share calculations because their inclusion would have been anti-dilutive due to the company reporting net losses[41](index=41&type=chunk)[101](index=101&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's analysis of Q1 2024 financial condition and results, covering revenue, costs, operating expenses, and liquidity, noting continued net losses and future investment plans - The company incurred net losses of **$59.9 million** and **$50.7 million** for the three months ended March 31, 2024 and 2023, respectively[106](index=106&type=chunk) - As of March 31, 2024, the company had an accumulated deficit of **$1.3 billion** and cash, cash equivalents, and marketable securities totaling **$371.8 million**[106](index=106&type=chunk)[119](index=119&type=chunk) - Management expects to continue incurring significant expenses and operating losses in the near term due to ongoing investments in personnel, technology platforms, new products, intellectual property protection, acquisitions, and infrastructure[106](index=106&type=chunk)[107](index=107&type=chunk) [Overview](index=22&type=section&id=Overview) - 10x Genomics is a life sciences technology company offering integrated solutions including Chromium and Spatial instruments, consumables, and software for biological analysis[104](index=104&type=chunk) - The company has incurred net losses in each year since its inception in 2012, with a **$1.3 billion** accumulated deficit as of March 31, 2024[106](index=106&type=chunk) - Future expenses are expected to increase due to efforts to attract and retain personnel, scale technology platforms, introduce new products, protect intellectual property, and invest in infrastructure[107](index=107&type=chunk) [Comparison of the Three Months Ended March 31, 2024 and 2023](index=23&type=section&id=Comparison%20of%20the%20Three%20Months%20Ended%20March%2031%2C%202024%20and%202023) - Total revenue increased by **5%** year-over-year to **$141.0 million**, driven by Spatial instruments and services, but offset by declines in Chromium products[109](index=109&type=chunk)[112](index=112&type=chunk) - Gross margin decreased by **7 percentage points** to **66%**, primarily due to a shift in product mix towards lower-margin Xenium instruments and higher manufacturing costs[110](index=110&type=chunk)[111](index=111&type=chunk) - Operating expenses increased by **3%** to **$154.4 million**, mainly due to higher legal and facility costs, partially offset by lower personnel and stock-based compensation expenses[112](index=112&type=chunk)[114](index=114&type=chunk) [Revenue](index=23&type=section&id=Revenue) Revenue by Product Category (in thousands) | Category | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Change (in thousands) | % Change | | :-------------------- | :-------------------------------- | :-------------------------------- | :-------------------- | :--------- | | Instruments | $25,453 | $19,176 | $6,277 | 33% | | Chromium Instruments | $7,850 | $11,626 | $(3,776) | (32)% | | Spatial Instruments | $17,603 | $7,550 | $10,053 | 133% | | Consumables | $110,335 | $112,378 | $(2,043) | (2)% | | Chromium Consumables | $83,927 | $101,096 | $(17,169) | (17)% | | Spatial Consumables | $26,408 | $11,282 | $15,126 | 134% | | Services | $5,218 | $2,731 | $2,487 | 91% | | **Total Revenue** | **$141,006** | **$134,285** | **$6,721** | **5%** | - Spatial instruments revenue increased by **133%** and Spatial consumables revenue increased by **134%** year-over-year, driving overall revenue growth[112](index=112&type=chunk) - Chromium instruments revenue decreased by **32%** and Chromium consumables revenue decreased by **17%** year-over-year[112](index=112&type=chunk) [Cost of revenue, gross profit and gross margin](index=23&type=section&id=Cost%20of%20revenue%2C%20gross%20profit%20and%20gross%20margin) Cost of Revenue, Gross Profit, and Gross Margin (in thousands) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Change (in thousands) | % Change | | :-------------------- | :-------------------------------- | :-------------------------------- | :-------------------- | :--------- | | Cost of revenue | $48,092 | $35,895 | $12,197 | 34% | | Gross profit | $92,914 | $98,390 | $(5,476) | (6)% | | Gross margin | 66% | 73% | (7) pp | - | - The increase in cost of revenue was primarily driven by **$10.5 million** higher manufacturing costs due to increased sales and newly introduced products, and **$2.0 million** of higher warranty charges[110](index=110&type=chunk) - Gross margin decreased by **7 percentage points** to **66%**, primarily due to a change in product mix driven by lower-margin Xenium instruments[110](index=110&type=chunk)[111](index=111&type=chunk) [Operating expenses](index=23&type=section&id=Operating%20expenses) - Operating expenditures are expected to continue to increase in 2024 and beyond due to investments in R&D projects, commercial efforts, talent retention, and increased legal costs for intellectual property protection[115](index=115&type=chunk) [Research and development](index=23&type=section&id=Research%20and%20development) - Research and development expenses increased by **$1.5 million**, or **2%**, to **$68.6 million**, primarily due to higher personnel expenses (**$0.6 million**) and increased costs for facilities and information technology (**$0.7 million**)[112](index=112&type=chunk)[113](index=113&type=chunk) - Included a **$0.7 million** impairment charge related to computer equipment and software due to the discontinuation of a productivity engineering project[113](index=113&type=chunk) [Selling, general and administrative](index=24&type=section&id=Selling%2C%20general%20and%20administrative) - Selling, general and administrative expenses increased by **$2.5 million**, or **3%**, to **$85.8 million**, driven by **$5.9 million** in increased outside legal expenses and **$2.0 million** in higher costs for facilities and information technology[112](index=112&type=chunk)[114](index=114&type=chunk) - These increases were partially offset by a **$5.6 million** decrease in personnel expenses, including a **$5.7 million** decrease in stock-based compensation expense[114](index=114&type=chunk) - Included a **$1.1 million** impairment charge related to computer equipment and software[114](index=114&type=chunk) [Other income (expense), net](index=24&type=section&id=Other%20income%20(expense)%2C%20net) Other Income (Expense), Net (in thousands) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Change (in thousands) | % Change | | :-------------------- | :-------------------------------- | :-------------------------------- | :-------------------- | :--------- | | Interest income | $4,736 | $3,869 | $867 | 22% | | Interest expense | $(1) | $(19) | $18 | (95)% | | Other expense, net | $(1,040) | $(1,516) | $476 | (31)% | | **Total other income** | **$3,695** | **$2,334** | **$1,361** | **58%** | - Interest income increased by **$0.9 million**, or **22%**, primarily due to higher interest rates on cash equivalents and marketable securities[116](index=116&type=chunk) - Other expense, net, decreased by **$0.5 million**, or **31%**, driven by lower net realized and unrealized losses from foreign currency rate fluctuations[117](index=117&type=chunk) [Provision for Income Taxes](index=24&type=section&id=Provision%20for%20Income%20Taxes) Provision for Income Taxes (in thousands) | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Change (in thousands) | | :-------------------------- | :-------------------------------- | :-------------------------------- | :-------------------- | | Provision for income taxes | $2,146 | $1,093 | $1,053 | - The increase in the provision for income taxes was primarily due to higher foreign income[118](index=118&type=chunk) - Deferred tax assets related to domestic operations are fully offset by a valuation allowance[118](index=118&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) - As of March 31, 2024, the company had **$371.8 million** in cash, cash equivalents, and marketable securities[119](index=119&type=chunk) - The company has generated negative cumulative cash flows from operations since inception and has an accumulated deficit of **$1.3 billion**[119](index=119&type=chunk) - Management believes existing cash and cash equivalents and cash generated from product sales will be sufficient to meet anticipated cash needs for at least the next 12 months[123](index=123&type=chunk) [Sources of liquidity](index=25&type=section&id=Sources%20of%20liquidity) - The company has financed its operations and capital expenditures primarily through sales of convertible preferred stock and common stock, revenue from product sales, and incurrence of indebtedness[125](index=125&type=chunk) Summary of Cash Flows (in thousands) | Activity | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Change (in thousands) | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | :------------------------ | | Net cash used in operating activities | $(15,725) | $(4,125) | $(11,600) | | Net cash provided by investing activities | $10,632 | $119,956 | $(109,324) | | Net cash provided by (used in) financing activities | $1,638 | $(3,414) | $5,052 | | Effect of exchange rate changes on cash, cash equivalents, and restricted cash | $(48) | $24 | $(72) | | **Net increase (decrease) in cash and cash equivalents** | **$(3,503)** | **$112,441** | **$(115,944)** | [Operating activities](index=25&type=section&id=Operating%20activities) - Net cash used in operating activities increased to **$15.7 million** in Q1 2024 from **$4.1 million** in Q1 2023, primarily due to a higher net loss and a **$6.3 million** net cash outflow from changes in operating assets and liabilities[127](index=127&type=chunk) - Key drivers of the Q1 2024 operating cash outflow included decreases in accrued expenses (**$12.7 million**) and accrued compensation (**$9.4 million**), and an increase in inventory (**$9.9 million**)[127](index=127&type=chunk) - These outflows were partially offset by an increase in accounts receivable (**$23.5 million**) and deferred revenue (**$2.1 million**)[127](index=127&type=chunk) [Investing activities](index=27&type=section&id=Investing%20activities) - Net cash provided by investing activities significantly decreased to **$10.6 million** in Q1 2024 from **$120.0 million** in Q1 2023[131](index=131&type=chunk)[132](index=132&type=chunk) - Q1 2024 investing activities included **$0.6 million** from sales of marketable securities and **$13.0 million** from maturities of marketable securities, partially offset by **$2.9 million** in property and equipment purchases[131](index=131&type=chunk) - Q1 2023 investing activities were significantly higher due to **$93.3 million** from sales and **$31.9 million** from maturities of marketable securities[132](index=132&type=chunk) [Financing activities](index=27&type=section&id=Financing%20activities) - Net cash provided by financing activities was **$1.6 million** in Q1 2024, a positive shift from **$3.4 million** used in Q1 2023[133](index=133&type=chunk) - The Q1 2024 cash provided was primarily from proceeds related to the issuance of common stock from the exercise of stock options[133](index=133&type=chunk) - The Q1 2023 cash used was primarily due to payments on financing arrangements of **$5.8 million**, partially offset by **$2.4 million** from stock option exercises[133](index=133&type=chunk) [Critical Accounting Estimates](index=27&type=section&id=Critical%20Accounting%20Estimates) - There have been no significant changes in the company's critical accounting policies and estimates during the three months ended March 31, 2024, compared to those disclosed in its most recent Annual Report on Form 10-K[135](index=135&type=chunk) - The preparation of financial statements requires management to make estimates and assumptions that affect reported amounts of assets, liabilities, revenue, and expenses[134](index=134&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's exposure to market risk, particularly related to changes in interest rates and foreign currency exchange rates, has not materially changed since December 31, 2023 - The company's exposure to market risk has not changed materially since December 31, 2023[136](index=136&type=chunk) - For detailed financial market risks related to interest rates and foreign currency exchange rates, reference is made to Item 7A of the Annual Report[136](index=136&type=chunk) [Item 4. Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including CEO and CFO, concluded disclosure controls were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of March 31, 2024[138](index=138&type=chunk) - There have been no changes in internal control over financial reporting during the quarter ended March 31, 2024, that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[139](index=139&type=chunk) [Evaluation of Disclosure Controls and Procedures](index=27&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) - Management, including the CEO and CFO, evaluated the effectiveness of disclosure controls and procedures as of March 31, 2024[137](index=137&type=chunk) - Disclosure controls and procedures are designed to ensure that information required to be disclosed is recorded, processed, summarized, and reported within specified time periods[137](index=137&type=chunk) - The evaluation concluded that disclosure controls and procedures were effective at a reasonable assurance level[138](index=138&type=chunk) [Changes in Internal Control over Financial Reporting](index=29&type=section&id=Changes%20in%20Internal%20Control%20over%20Financial%20Reporting) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2024, that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[139](index=139&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is regularly involved in various legal and regulatory proceedings, particularly intellectual property disputes, and expects this to continue given the industry's litigious nature - The company is regularly subject to lawsuits, claims, arbitration proceedings, administrative actions, and other legal and regulatory proceedings, especially intellectual property disputes[142](index=142&type=chunk) - Given the litigious history of the industry and operating as a public company, the company expects third parties to claim infringement of intellectual property rights and will continue to defend its technology[142](index=142&type=chunk) - Refer to Note 4 to the unaudited condensed consolidated financial statements for detailed information on legal proceedings[143](index=143&type=chunk) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the company's previously disclosed risk factors that are considered material to its business, results of operations, and financial condition - No material changes to the company's risk factors that are material to its business, results of operations, and financial condition from those previously disclosed in the Annual Report[144](index=144&type=chunk) - The Annual Report and incorporated documents are accessible on the SEC's website[144](index=144&type=chunk) [Item 5. Other Information](index=30&type=section&id=Item%205.%20Other%20Information) Discloses Rule 10b5-1 trading arrangements by officers and directors, including a terminated plan and new plans adopted in March 2024 - James L. Wilbur, former Chief Commercial Officer, terminated his Rule 10b5-1 trading arrangement on February 21, 2024[145](index=145&type=chunk) - Shehnaaz Suliman, a Board Director, adopted a Rule 10b5-1 trading arrangement on March 10, 2024, for up to **20,016** shares[146](index=146&type=chunk) - Benjamin J. Hindson, Chief Scientific Officer and President, adopted a Rule 10b5-1 trading arrangement on March 11, 2024, for up to **22,496** shares plus carryover shares[147](index=147&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) Lists all exhibits filed with the Quarterly Report on Form 10-Q, including organizational documents, certifications, and XBRL-related documents - The exhibits include the Amended and Restated Certificate of Incorporation, Amended and Restated Bylaws, and Form of Stock Certificate for Class A common stock[148](index=148&type=chunk) - Certifications of the Principal Executive Officer and Principal Financial and Accounting Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are filed herewith[148](index=148&type=chunk) - Inline XBRL Instance Document and Taxonomy Extension Documents are also included as exhibits[148](index=148&type=chunk) [Signatures](index=32&type=section&id=Signatures) The report is duly signed on behalf of 10x Genomics, Inc. by Serge Saxonov, Chief Executive Officer and Director, and Justin J. McAnear, Chief Financial Officer, on April 30, 2024 - The report is signed by Serge Saxonov, Chief Executive Officer and Director, and Justin J. McAnear, Chief Financial Officer[152](index=152&type=chunk) - The signing date for the report is April 30, 2024[152](index=152&type=chunk)

Recent Highlights "We delivered four major new products this quarter, which set a new standard for single cell and spatial biology," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "In its first quarter, Visium HD helped drive strong growth in Spatial. We also had a significant number of customers trial our new GEM-X products, contributing to lower quarter-end orders for Chromium. Overall, we're encouraged by the early enthusiasm, adoption and feedback from customers and believe these new launches w ...