10x Genomics, Inc. (NASDAQ:TXG) Q3 2023 Earnings Conference Call November 2, 2023 4:30 PM ET Company Participants Cassie Corneau - Director, Investor Relations and Strategic Finance Serge Saxonov - CEO and Co-Founder Justin McAnear - Chief Financial Officer Conference Call Participants Patrick Donnelly - Citi Dan Arias - Stifel Kyle Mikson - Canaccord Genuity Dan Brennan - TD Cowen Salem Salem - Barclays Tejas Savant - Morgan Stanley John Sourbeer - UBS Mason Carrico - Stephens Michael Ryskin - Bank of Amer ...

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 September 30, 2023 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 ...

10X Genomics, Inc. (NASDAQ:TXG) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET Company Participants Cassie Corneau - Manager, IR and Strategic Finance Serge Saxonov - Co-Founder, CEO & Director Justin McAnear - CFO Conference Call Participants Patrick Donnelly - Citigroup Daniel Arias - Stifel, Nicolaus & Company Kyle Boucher - TD Cowen Michael Ryskin - Bank of America Merrill Lynch Tejas Savant - Morgan Stanley Matthew Larew - William Blair & Company Mason Carrico - Stephens Inc. Tianqi Hang - ...

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 June 30, 2023 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 Re ...

10x Genomics, Inc. (NASDAQ:TXG) Q1 2023 Earnings Conference Call May 3, 2023 4:30 PM ET Company Participants Cassie Corneau – Head-Investor Relations & Strategic Finance Serge Saxonov – Chief Executive Officer and Co-founder Justin McAnear – Chief Financial Officer Conference Call Participants Dan Arias – Stifel Dan Brennan – Cowen Tejas Savant – Morgan Stanley Patrick Donnelly – Citi Matthew Sykes – Goldman Sachs Kyle Mikson – Canaccord Julia Qin – J.P. Morgan Mason Carrico – Stephens Michael Ryskin – Bank ...

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, 2023 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 ...

10x Genomics, Inc. (NASDAQ:TXG) Q4 2022 Earnings Conference Call February 15, 2023 4:30 PM ET Company Participants Cassie Corneau - Head, Investor Relations & Strategic Finance Serge Saxonov - Chief Executive Officer & Co-Founder Justin McAnear - Chief Financial Officer Conference Call Participants Dan Brennan - Cowen Dan Arias - Stifel Tejas Savant - Morgan Stanley Patrick Donnelly - Citigroup Julia Qin - J.P. Morgan Kyle Mikson - Canaccord Genuity Matt Larew - William Blair Michael Ryskin - Bank of Americ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-K __________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 Registrant as Specif ...

10x Genomics, Inc. (NASDAQ:TXG) Q3 2022 Earnings Conference Call November 2, 2022 4:30 PM ET Company Participants Cassie Corneau - Head, Investor Relations & Strategic Finance Serge Saxonov - Chief Executive Officer & Co-Founder Justin McAnear - Chief Financial Officer Conference Call Participants Tejas Savant - Morgan Stanley Dan Arias - Stifel Patrick Donnelly - Citi Kyle Mikson - Canaccord Genuity Dan Brennan - Cowen Julia Qin - JPMorgan Michael Ryskin - Bank of America Matt Sykes - Goldman Sachs Operato ...

[PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the period ended September 30, 2022, including balance sheets, statements of operations, comprehensive loss, stockholders' equity, and cash flows [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2022, total assets slightly decreased to $996.2 million, while cash and equivalents significantly declined, and total liabilities increased Condensed Consolidated Balance Sheets (in thousands) | | September 30, 2022 (Unaudited) | December 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $629,422 | $747,591 | | **Total assets** | $996,207 | $1,018,826 | | **Total current liabilities** | $126,855 | $110,357 | | **Total liabilities** | $220,415 | $201,258 | | **Total stockholders' equity** | $775,792 | $817,568 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenue increased in Q3 2022, but a significant rise in operating expenses led to a wider net loss for both the quarter and the first nine months Statement of Operations Highlights - Q3 (in thousands) | Metric | Q3 2022 | Q3 2021 | | :--- | :--- | :--- | | **Revenue** | $131,072 | $125,297 | | **Gross Profit** | $100,695 | $100,779 | | **Total Operating Expenses** | $140,691 | $116,658 | | **Loss from Operations** | $(39,996) | $(15,879) | | **Net Loss** | $(41,914) | $(17,171) | | **Net Loss Per Share** | $(0.37) | $(0.15) | Statement of Operations Highlights - Nine Months (in thousands) | Metric | Nine Months 2022 | Nine Months 2021 | | :--- | :--- | :--- | | **Revenue** | $360,177 | $346,960 | | **Gross Profit** | $276,618 | $300,467 | | **Total Operating Expenses** | $421,466 | $336,890 | | **Loss from Operations** | $(144,848) | $(36,423) | | **Net Loss** | $(148,785) | $(39,774) | | **Net Loss Per Share** | $(1.31) | $(0.36) | [Condensed Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Comprehensive loss for Q3 2022 increased to $43.4 million, primarily due to a higher net loss and unrealized losses on marketable securities Comprehensive Loss Summary (in thousands) | | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | **Net loss** | $(41,914) | $(17,171) | | **Other comprehensive income (loss)** | $(1,527) | $136 | | **Comprehensive loss** | $(43,441) | $(17,035) | [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity decreased to $775.8 million by September 30, 2022, mainly due to the cumulative net loss, partially offset by stock-based compensation - The accumulated deficit grew from **$863.3 million** at the end of 2021 to over **$1.01 billion** by September 30, 2022, reflecting ongoing net losses[27](index=27&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased, and investing activities saw substantial cash usage, primarily for marketable securities and property purchases Cash Flow Summary - Nine Months Ended Sep 30 (in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(47,329) | $(27,178) | | **Net cash used in investing activities** | $(317,715) | $(79,111) | | **Net cash provided by financing activities** | $10,816 | $26,394 | | **Net decrease in cash, cash equivalents, and restricted cash** | $(354,523) | $(79,579) | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail business operations, accounting policies, a $4.2 million restructuring charge, revenue breakdowns by source and geography, and ongoing patent litigation - In August 2022, the company implemented a reduction in force, resulting in a restructuring charge of **$4.2 million**, primarily for severance costs[53](index=53&type=chunk)[55](index=55&type=chunk) Revenue by Source - Nine Months Ended Sep 30 (in thousands) | Source | 2022 | 2021 | | :--- | :--- | :--- | | Instruments | $50,064 | $45,123 | | Consumables | $303,991 | $296,342 | | Services | $6,122 | $5,495 | | **Total revenue** | **$360,177** | **$346,960** | Revenue by Geography - Nine Months Ended Sep 30 (in thousands) | Geography | 2022 | 2021 | | :--- | :--- | :--- | | United States | $202,159 | $182,747 | | Europe, Middle East and Africa | $74,067 | $73,761 | | China | $45,620 | $55,577 | | Asia-Pacific (excluding China) | $32,334 | $29,822 | | **Total revenue** | **$360,177** | **$346,960** | - The company is engaged in multiple patent infringement lawsuits, both as a plaintiff against Nanostring, Vizgen, and Parse, and as a defendant in counterclaims from Nanostring and Vizgen[71](index=71&type=chunk)[77](index=77&type=chunk)[79](index=79&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 revenue growth driven by instrument sales, increased net loss due to higher operating expenses and lower gross margin, and sufficient liquidity for the next 12 months - The company incurred net losses of **$41.9 million** for Q3 2022 and **$148.8 million** for the first nine months of 2022, compared to losses of **$17.2 million** and **$39.8 million** in the respective prior-year periods[96](index=96&type=chunk) - COVID-19 related lockdowns in China continued to negatively impact revenues in Q3 2022, affecting customer productivity due to hiring, logistics, and procurement challenges[97](index=97&type=chunk)[99](index=99&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Q3 2022 revenue increased 5% year-over-year, driven by instrument sales, while gross margin declined and operating expenses significantly rose due to personnel and restructuring costs Revenue Change by Source - Q3 2022 vs Q3 2021 | Source | Q3 2022 Revenue (M) | YoY Change ($) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Instruments | $20.9 | +$3.8M | +22% | | Consumables | $108.1 | +$2.0M | +2% | | **Total** | **$131.1** | **+$5.8M** | **+5%** | - Gross margin for Q3 2022 was **77%**, down from **80%** in Q3 2021, attributed to higher manufacturing costs, newly introduced products, and increased warranty costs[104](index=104&type=chunk)[105](index=105&type=chunk)[106](index=106&type=chunk) - Q3 R&D expenses increased **23%** year-over-year to **$67.3 million**, and SG&A expenses increased **18%** year-over-year to **$73.4 million**, primarily driven by higher personnel expenses, including stock-based compensation and restructuring charges[108](index=108&type=chunk)[111](index=111&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) The company holds $452.4 million in cash and marketable securities and anticipates $80-90 million in capital expenditures, believing its liquidity is sufficient for the next 12 months - The company has **$452.4 million** in total cash, cash equivalents, and marketable securities as of September 30, 2022[96](index=96&type=chunk)[118](index=118&type=chunk) - Anticipated capital expenditures for the next 12 months are between **$80 million** and **$90 million**, primarily for construction costs of facilities in Pleasanton, California[119](index=119&type=chunk) - Net cash used in operating activities for the first nine months of 2022 was **$47.3 million**, primarily due to a net loss of **$148.8 million**, offset by non-cash charges like stock-based compensation (**$95.9 million**)[123](index=123&type=chunk)[124](index=124&type=chunk) [Critical Accounting Estimates](index=28&type=section&id=Critical%20Accounting%20Estimates) A new critical accounting estimate was introduced for market-based performance stock awards granted in Q3 2022, with a fair value of $16.0 million determined by Monte Carlo simulation - In Q3 2022, the company began issuing market-based PSAs that vest upon achieving stock price thresholds of **$60**, **$80**, and **$105**, with an estimated value of **$16.0 million** using a Monte Carlo simulation[134](index=134&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate risk on its $218.4 million marketable securities portfolio, where a 100 basis-point rate change would impact fair value by approximately $1.9 million - The company's investment portfolio of **$218.4 million** is exposed to interest rate risk, where a hypothetical **100 basis-point** increase or decrease would impact the portfolio's fair value by approximately **$1.9 million**[136](index=136&type=chunk)[137](index=137&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of September 30, 2022[138](index=138&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control[139](index=139&type=chunk) [PART II. OTHER INFORMATION](index=30&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is actively involved in multiple significant patent infringement lawsuits, both as a plaintiff and defending against counterclaims - The company has filed two separate lawsuits against Nanostring Technologies in the U.S. and one in Germany, alleging infringement of multiple patents by Nanostring's GeoMx and CosMx products[142](index=142&type=chunk)[143](index=143&type=chunk)[146](index=146&type=chunk) - Nanostring has filed counterclaims and a separate lawsuit against 10x Genomics, alleging that its Visium products infringe on Nanostring patents[144](index=144&type=chunk)[145](index=145&type=chunk) - The company has sued Vizgen, Inc. for patent infringement related to its MERSCOPE Platform, while Vizgen has filed counterclaims alleging infringement by the company's forthcoming Xenium product[147](index=147&type=chunk)[149](index=149&type=chunk) - The company filed a suit against Parse Biosciences, Inc. in August 2022, alleging its Evercode products infringe on six U.S. patents[150](index=150&type=chunk) [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K - There have been no material changes to the company's risk factors from those previously disclosed in its Annual Report[152](index=152&type=chunk) [Other Information](index=31&type=section&id=Item%205.%20Other%20Information) On October 28, 2022, the company adopted Amended and Restated Bylaws to address new SEC universal proxy rules and align with Delaware corporate law updates - The company adopted Amended and Restated Bylaws on October 28, 2022, to address new SEC universal proxy rules and align with Delaware corporate law updates[153](index=153&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Quarterly Report on Form 10-Q, including Amended and Restated Bylaws, stock award agreements, and required certifications - Key exhibits filed include the Amended and Restated Bylaws (Exhibit 3.2), forms of stock option and RSU agreements, and Sarbanes-Oxley Section 302 and 906 certifications[155](index=155&type=chunk)