Core Viewpoint - 10x Genomics reported quarterly earnings of $0.28 per share, significantly beating the Zacks Consensus Estimate of a loss of $0.35 per share, marking an earnings surprise of +180.00% [1][2] Financial Performance - The company posted revenues of $172.91 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 24.00% and showing an increase from $153.1 million in the same quarter last year [2] - Over the last four quarters, 10x Genomics has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - 10x Genomics shares have declined approximately 11.8% since the beginning of the year, contrasting with the S&P 500's gain of 7.9% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.25 on revenues of $144.82 million, and for the current fiscal year, it is -$1.12 on revenues of $593.29 million [7] - The trend of estimate revisions for 10x Genomics was favorable ahead of the earnings release, suggesting potential positive movements in stock performance [6] Industry Context - The Medical Info Systems industry, to which 10x Genomics belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements, covering balance sheets, operations, cash flows, and detailed notes [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $979.97 million as of June 30, 2025, driven by cash and receivables, with equity rising | Metric | June 30, 2025 (in millions) | December 31, 2024 (in millions) | | :----- | :-------------------------- | :------------------------------ | | Total Assets | $979.97 | $918.64 | | Total Liabilities | $206.69 | $208.50 | | Total Stockholders' Equity | $773.28 | $710.13 | - Key Current Asset Changes (June 30, 2025 vs. Dec 31, 2024): - Cash and cash equivalents: Increased from **$344.07 million** to **$397.71 million**[18](index=18&type=chunk) - Accounts receivable, net: Decreased from **$87.86 million** to **$49.98 million**[18](index=18&type=chunk) - Other receivables: Increased significantly from **$606 thousand** to **$69.09 million**[18](index=18&type=chunk) - Inventory: Decreased from **$83.11 million** to **$68.97 million**[18](index=18&type=chunk) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported **$34.5 million** net income for Q2 2025, a significant improvement from prior year loss, driven by license revenue and settlement gain | Period | June 30, 2025 (3 months, in thousands) | June 30, 2024 (3 months, in thousands) | June 30, 2025 (6 months, in thousands) | June 30, 2024 (6 months, in thousands) | | :----- | :------------------------------------- | :------------------------------------- | :------------------------------------- | :------------------------------------- | | Net Income (Loss) | $34,538 | $(37,897) | $180 | $(97,846) | | Revenue Type | 3 Months Ended June 30, 2025 (in millions) | 3 Months Ended June 30, 2024 (in millions) | 6 Months Ended June 30, 2025 (in millions) | 6 Months Ended June 30, 2024 (in millions) | | :------------- | :----------------------------------------- | :----------------------------------------- | :----------------------------------------- | :----------------------------------------- | | Products and services revenue | $145.16 | $152.99 | $282.98 | $293.99 | | License and royalty revenue | $27.75 | $0.11 | $44.81 | $0.12 | | **Total Revenue** | **$172.91** | **$153.10** | **$327.79** | **$294.11** | - Operating Expenses and Gain on Settlement (3 months ended June 30, 2025 vs 2024): - Research and development: **$61.22 million** (2025) vs **$62.92 million** (2024) - Decrease of **3%**[20](index=20&type=chunk) - Selling, general and administrative: **$74.43 million** (2025) vs **$83.04 million** (2024) - Decrease of **10%**[20](index=20&type=chunk) - Gain on settlement: **$(40.70) million** (2025) vs **$0 thousand** (2024)[20](index=20&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income for Q2 2025 was **$35.1 million**, a significant improvement from prior year's loss, reflecting reported net income | Period | June 30, 2025 (3 months, in thousands) | June 30, 2024 (3 months, in thousands) | June 30, 2025 (6 months, in thousands) | June 30, 2024 (6 months, in thousands) | | :----- | :------------------------------------- | :------------------------------------- | :------------------------------------- | :------------------------------------- | | Net income (loss) | $34,538 | $(37,897) | $180 | $(97,846) | | Other comprehensive income (loss), net of tax | $587 | $26 | $713 | $(1) | | **Comprehensive income (loss)** | **$35,125** | **$(37,871)** | **$893** | **$(97,847)** | [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity increased to **$773.3 million** as of June 30, 2025, driven by net income and stock-based compensation | Date | Total Stockholders' Equity (in millions) | | :--- | :------------------------------------- | | June 30, 2025 | $773.28 | | December 31, 2024 | $710.13 | - Key Changes in Stockholders' Equity (Dec 31, 2024 to June 30, 2025): - Additional Paid-in Capital increased by **$62.25 million** (**$2.24 billion** - **$2.18 billion**)[26](index=26&type=chunk) - Accumulated Deficit improved from **$(1.47) billion** to **$(1.47) billion**[26](index=26&type=chunk) - Net income for the period contributed **$34.54 million**[26](index=26&type=chunk) - Stock-based compensation contributed **$58.31 million** (**$30.57 million** + **$27.74 million**)[26](index=26&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly improved to **$52.1 million** for H1 2025, compared to a prior year outflow | Activity | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :------- | :------------------------------------------ | :------------------------------------------ | | Operating activities | $52,059 | $(8,229) | | Investing activities | $(2,832) | $22,579 | | Financing activities | $3,944 | $6,241 | | Effect of exchange rates changes on cash, cash equivalents | $474 | $(51) | | **Net increase in cash and cash equivalents** | **$53,645** | **$20,540** | | Date | Cash, cash equivalents at end of period (in millions) | | :--- | :-------------------------------------------------- | | June 30, 2025 | $397.71 | | June 30, 2024 | $379.82 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and disclosures for the condensed consolidated financial statements [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 providing integrated research solutions, with financial statements unaudited and GAAP-compliant - Business Focus: Life sciences technology company building innovative products and solutions to interrogate, understand and master biological systems[30](index=30&type=chunk) - Product Portfolio: Includes Chromium instruments, Visium CytAssist, Xenium Analyzer ("Spatial instruments"), and proprietary microfluidic chips, slides, reagents, and other consumables. Software is bundled with products[30](index=30&type=chunk) [2. Summary of Significant Accounting Policies](index=11&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) This section outlines the company's significant accounting policies, including revenue recognition, with no material changes during the period - Revenue Recognition: - Product sales: Recognized when control is transferred, generally upon shipment[34](index=34&type=chunk)[38](index=38&type=chunk) - Instrument service agreements (extended warranties): Recognized ratably over the term[34](index=34&type=chunk)[38](index=38&type=chunk) - License revenue: Recognized when intellectual property license is delivered[34](index=34&type=chunk)[38](index=38&type=chunk) - Royalty revenue: Recognized when underlying sales occur[34](index=34&type=chunk)[38](index=38&type=chunk) - Segment Information: The Company operates as a single operating segment[39](index=39&type=chunk) - Recently Issued Accounting Pronouncements: - ASU No. 2023-09 (Income Taxes): Effective fiscal year 2025, requires disaggregation of income tax information[41](index=41&type=chunk) - ASU 2024-03 (Disaggregation of Income Statement Expenses): Effective fiscal years

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $173 million, up 13% year-over-year, but excluding the settlement revenue, it was $146 million, down 5% [21][5] - Total consumables revenue was $122.2 million, down 1%, with Chromium consumables revenue at $85.8 million, down 9% [22][21] - Gross profit for Q2 was $125.1 million, with a gross margin increase to 72% from 68% year-over-year, primarily due to higher license and royalty revenue [26][21] - Net income for the period was $34.5 million compared to a net loss of $37.9 million in the previous year [27][21] Business Line Data and Key Metrics Changes - Spatial consumables revenue was $36.4 million, up 24%, driven by Xenium consumables revenue [22] - Total instrument revenue was $14.5 million, down 39%, with Chromium instrument revenue at $5.7 million, down 35% [23][22] - Services revenue increased by 47% to $8.5 million, primarily due to an increase in Xenium service plans [24][22] Market Data and Key Metrics Changes - Americas revenue was $78.9 million, down 15% year-over-year, while EMEA revenue was $34.7 million, down 7% [24] - APAC revenue was $32 million, up 41% year-over-year, benefiting from a temporary pull forward in purchasing activity in China [25][24] Company Strategy and Development Direction - The company is focused on advancing technology leadership in single cell and spatial biology, with new product launches aimed at lowering costs and expanding applications [12][19] - The acquisition of Scale Biosciences is expected to enhance the Chromium platform and broaden access to single cell analysis [19][28] - The company aims to maintain operational efficiency while investing in long-term growth despite a challenging funding environment [18][29] Management's Comments on Operating Environment and Future Outlook - The current funding environment is challenging, particularly in academic research, with cautious customer spending and extended project timelines [6][11] - Management noted that while there are signs of optimism among customers, actual spending remains conservative due to slow disbursement of funds [37][38] - The company expects Q3 revenue to be in the range of $140 million to $144 million, reflecting cautious customer spending behavior [28][21] Other Important Information - The company ended the quarter with $447 million in cash, cash equivalents, and marketable securities [27] - The company is committed to cost management and cash generation while pursuing strategic priorities [18][29] Q&A Session Summary Question: Can you discuss the current academic research funding environment? - Management noted that while there is more optimism compared to previous months, spending remains cautious due to slow fund disbursement and uncertainty around budgets [37][38] Question: What is the strategic rationale behind the Scale acquisition? - The acquisition aims to lower costs and drive higher scale in single cell applications, enhancing the company's existing product capabilities [41][42] Question: How is the sales force for Xenium performing in Europe? - The sales team is fully in place and ramping up, with improved execution despite a challenging capital expenditure environment [56][59] Question: What are the expectations for revenue from the Scale acquisition? - Near-term revenue impact from the acquisition is expected to be minimal, with a focus on integrating technologies into the broader portfolio [49][48] Question: What factors could unlock customer spending in the future? - Budget clarity for the next year and the actual disbursement of funds are seen as critical factors for unlocking customer spending [85][86]

[Second Quarter 2025 Earnings Release Highlights](index=1&type=section&id=Second%20Quarter%202025%20Earnings%20Release%20Highlights) [Recent Business Updates and CEO Commentary](index=1&type=section&id=Recent%20Updates) CEO Serge Saxonov affirmed Q2 performance met expectations, highlighting business resilience, strategic acquisitions, new product launches, and key research partnerships - CEO Serge Saxonov expressed satisfaction with Q2 performance, emphasizing the company's **business resilience** in an uncertain financing environment and confidence in its technology and long-term opportunities[4](index=4&type=chunk) - The company acquired Scale Biosciences for **$30 million** in cash and stock consideration, aiming to strengthen its leadership in single-cell analysis through key technologies and expand application scope[9](index=9&type=chunk) - The company began shipping Visium HD 3' and HD cell segmentation products, expanding the Visium portfolio's capabilities in high-resolution, high-sensitivity analysis[9](index=9&type=chunk) - A partnership with the Genome Institute of Singapore launched the TISHUMAP program, utilizing Xenium and AI technology to discover novel biomarkers and therapeutic targets for cancer and inflammatory diseases[9](index=9&type=chunk) [Second Quarter 2025 Financial Summary](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results) Q2 2025 total revenue reached **$172.9 million** (including **$27.3 million** settlement), with **$145.6 million** ex-settlement, gross margin at **72%**, and a return to operating and net profitability Key Financial Data for Q2 2025 | Metric | Q2 2025 (Million USD) | Q2 2024 (Million USD) | Y-o-Y Change | Notes | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | 172.9 | 153.1 | +12.9% | Includes $27.3 million patent litigation settlement | | **Revenue Excluding Settlement** | 145.6 | 153.1 | -5% | Primarily due to lower instrument revenue, partially offset by ~$4.0 million early purchases by Chinese customers | | **Gross Margin** | 72% | 68% | +4% | 67% excluding license and royalty revenue | | **Operating Expenses** | 95.0 | 146.0 | -35% | Primarily due to $40.7 million litigation settlement gain | | **Operating Income (Loss)** | 30.1 | (41.7) | Turned Profitable | | | **Net Income (Loss)** | 34.5 | (37.9) | Turned Profitable | | | **Cash, Cash Equivalents, and Marketable Securities** | 447.3 | - | +20 million (Q-o-Q) | As of June 30, 2025, increased by $20 million from prior quarter | [Third Quarter 2025 Revenue Guidance](index=2&type=section&id=Third%20Quarter%202025%20Revenue%20Guidance) Q3 2025 revenue is projected between **$140 million** and **$144 million**, factoring in **$4 million** of early Chinese customer purchases Q3 2025 Revenue Guidance | Metric | Range (Million USD) | | :--- | :--- | | **Q3 Revenue Guidance** | 140 - 144 | | **Impact from Early Chinese Customer Purchases** | ~4.0 (already accounted for) | [Company Information](index=2&type=section&id=Company%20Information) [About 10x Genomics](index=2&type=section&id=About%2010x%20Genomics) 10x Genomics is a life science technology company providing integrated single-cell and spatial biology solutions to accelerate research and human health - 10x Genomics is a life science technology company focused on accelerating biological research and human health development through single-cell and spatial biology products[12](index=12&type=chunk) - The company provides integrated research solutions, including instruments, consumables, and software, serving academia, translational researchers, and biopharmaceutical companies[12](index=12&type=chunk) - Its products have driven significant discoveries in oncology, immunology, neuroscience, and other fields, deepening the understanding of health and disease[12](index=12&type=chunk) [Legal and Investor Information](index=2&type=section&id=Legal%20and%20Investor%20Information) This section provides forward-looking statement disclaimers, directs investors to SEC filings for risk factors, and outlines official information dissemination channels - Forward-looking statements are protected by the Private Securities Litigation Reform Act of 1995, and actual results may differ materially from expectations due to various factors[13](index=13&type=chunk) - The company discloses material non-public information through SEC filings, its website, press releases, public conference calls, webcasts, and social media accounts to comply with Regulation FD disclosure obligations[14](index=14&type=chunk) - Investor and media contact emails are provided[15](index=15&type=chunk) [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 and H1 2025 statements show significant improvement, with **12.9%** Q2 total revenue growth, a shift to operating and net profitability, driven by license revenue and settlement gains Condensed Consolidated Statements of Operations Summary (Thousands USD) | Metric | Q2 2025 | Q2 2024 | First Six Months 2025 | First Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | **Product and Service Revenue** | 145,157 | 152,990 | 282,980 | 293,995 | | **License and Royalty Revenue** | 27,751 | 114 | 44,811 | 115 | | **Total Revenue** | 172,908 | 153,104 | 327,791 | 294,110 | | **Gross Profit** | 125,084 | 104,220 | 230,529 | 197,134 | | **Operating Expenses** | 94,958 | 145,957 | 239,731 | 300,369 | | **Operating Income (Loss)** | 30,126 | (41,737) | (9,202) | (103,235) | | **Net Income (Loss)** | 34,538 | (37,897) | 180 | (97,846) | | **Basic Net Income (Loss) Per Share** | 0.28 | (0.32) | — | (0.82) | [Three Months Ended June 30, 2025 vs 2024](index=3&type=section&id=Three%20Months%20Ended%20June%2030%2C%202025%20vs%202024) Q2 2025 Operating Results (Thousands USD) | Metric | Q2 2025 | Q2 2024 | Change | Change % | | :--- | :--- | :--- | :--- | :--- | | **Product and Service Revenue** | 145,157 | 152,990 | (7,833) | -5.1% | | **License and Royalty Revenue** | 27,751 | 114 | 27,637 | >100% | | **Total Revenue** | 172,908 | 153,104 | 19,804 | +12.9% | | **Gross Profit** | 125,084 | 104,220 | 20,864 | +20.0% | | **Operating Expenses** | 94,958 | 145,957 | (50,999) | -34.9% | | **Operating Income (Loss)** | 30,126 | (41,737) | 71,863 | Turned Profitable | | **Net Income (Loss)** | 34,538 | (37,897) | 72,435 | Turned Profitable | | **Basic Net Income (Loss) Per Share** | 0.28 | (0.32) | 0.60 | Turned Profitable | [Six Months Ended June 30, 2025 vs 2024](index=3&type=section&id=Six%20Months%20Ended%20June%2030%2C%202025%20vs%202024) First Six Months 2025 Operating Results (Thousands USD) | Metric | First Six Months 2025 | First Six Months 2024 | Change | Change % | | :--- | :--- | :--- | :--- | :--- | | **Product and Service Revenue** | 282,980 | 293,995 | (11,015) | -3.7% | | **License and Royalty Revenue** | 44,811 | 115 | 44,696 | >100% | | **Total Revenue** | 327,791 | 294,110 | 33,681 | +11.4% | | **Gross Profit** | 230,529 | 197,134 | 33,395 | +16.9% | | **Operating Expenses** | 239,731 | 300,369 | (60,638) | -20.2% | | **Operating Income (Loss)** | (9,202) | (103,235) | 94,033 | Loss Narrowed | | **Net Income (Loss)** | 180 | (97,846) | 98,026 | Turned Profitable | | **Basic Net Income (Loss) Per Share** | — | (0.82) | 0.82 | Turned Profitable | [Revenue Breakdown by Source and Geography](index=4&type=section&id=Revenue%20Breakdown%20by%20Source%20and%20Geography) Q2 2025 Revenue by Source (Thousands USD) | Revenue Source | Q2 2025 | Q2 2024 | Change | Change % | | :--- | :--- | :--- | :--- | :--- | | **Instrument Revenue** | | | | | | Chromium | 5,727 | 8,792 | (3,065) | -34.9% | | Spatial | 8,770 | 15,060 | (6,290) | -41.8% | | **Total Instrument Revenue** | 14,497 | 23,852 | (9,355) | -39.2% | | **Consumables Revenue** | | | | | | Chromium | 85,788 | 94,108 | (8,320) | -8.8% | | Spatial | 36,397 | 29,254 | 7,143 | +24.4% | | **Total Consumables Revenue** | 122,185 | 123,362 | (1,177) | -1.0% | | **Service Revenue** | 8,475 | 5,776 | 2,699 | +46.7% | | **Product and Service Revenue** | 145,157 | 152,990 | (7,833) | -5.1% | | **License and Royalty Revenue** | 27,751 | 114 | 27,637 | >100% | | **Total Revenue** | 172,908 | 153,104 | 19,804 | +12.9% | Q2 2025 Revenue by Geography (Thousands USD) | Geography | Q2 2025 | Q2 2024 | Change | Change % | | :--- | :--- | :--- | :--- | :--- | | **Americas** | | | | | | United States | 103,491 | 89,672 | 13,819 | +15.4% | | Americas (Excluding U.S.) | 2,667 | 3,419 | (752) | -22.0% | | **Total Americas** | 106,158 | 93,091 | 13,067 | +14.0% | | **Europe, Middle East, and Africa** | 34,734 | 37,362 | (2,628) | -7.0% | | **Asia Pacific** | | | | | | China | 23,170 | 13,738 | 9,432 | +68.7% | | Asia Pacific (Excluding China) | 8,846 | 8,913 | (67) | -0.8% | | **Total Asia Pacific** | 32,016 | 22,651 | 9,365 | +41.3% | | **Total Revenue** | 172,908 | 153,104 | 19,804 | +12.9% | [Stock-Based Compensation Expense Details](index=4&type=section&id=Stock-Based%20Compensation%20Expense%20Details) Stock-Based Compensation Expense (Thousands USD) | Category | Q2 2025 | Q2 2024 | First Six Months 2025 | First Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | **Cost of Revenue** | 1,989 | 2,247 | 4,470 | 4,280 | | **Research and Development Expenses** | 12,613 | 17,862 | 26,719 | 34,750 | | **Selling, General and Administrative Expenses** | 12,643 | 18,383 | 27,132 | 35,591 | | **Total Stock-Based Compensation Expense** | 27,245 | 38,492 | 58,321 | 74,621 | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets grew to **$979.97 million**, with **$447.3 million** in cash and marketable securities, reflecting an improved financial position Condensed Consolidated Balance Sheets Summary (Thousands USD) | Metric | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and Cash Equivalents | 397,712 | 344,067 | 53,645 | | Marketable Securities | 49,549 | 49,335 | 214 | | Accounts Receivable, Net | 49,977 | 87,862 | (37,885) | | Inventory | 68,968 | 83,107 | (14,139) | | **Total Current Assets** | 655,661 | 584,387 | 71,274 | | **Total Assets** | 979,970 | 918,636 | 61,334 | | **Liabilities** | | | | | Accounts Payable | 15,938 | 12,909 | 3,029 | | Deferred Revenue (Current) | 21,449 | 20,658 | 791 | | **Total Current Liabilities** | 112,221 | 117,633 | (5,412) | | **Total Liabilities** | 206,691 | 208,502 | (1,811) | | **Stockholders' Equity** | | | | | Accumulated Deficit | (1,466,867) | (1,467,047) | 180 | | **Total Stockholders' Equity** | 773,279 | 710,134 | 63,145 | | **Total Liabilities and Stockholders' Equity** | 979,970 | 918,636 | 61,334 |

Torex Gold Reports Q2 2025 ResultsSolid operational momentum through the end of the quarter sets the Company up for a strong second half of the yearAugust 06, 2025 6:00 PM EDT | Source: Torex Gold Resources Inc.(All amounts expressed in U.S. dollars unless otherwise stated)Toronto, Ontario--(Newsfile Corp. - August 6, 2025) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) reports the Company's financial and operational results for the three and six months ended June 30, 2025. ...

Core Viewpoint - 10x Genomics (TXG) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, indicating a positive outlook for the company's stock price [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, which reflects the changing earnings picture of a company [1][2]. - A strong correlation exists between changes in earnings estimates and near-term stock price movements, making the Zacks rating system valuable for investors [4][6]. Institutional Investor Influence - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, leading to significant stock price movements based on their buying or selling activities [4]. Business Improvement Indicators - Rising earnings estimates and the Zacks rating upgrade for 10x Genomics suggest an improvement in the company's underlying business, which could lead to increased stock prices [5][10]. Earnings Estimate Revisions - 10x Genomics is projected to earn -$1.12 per share for the fiscal year ending December 2025, with no year-over-year change; however, the Zacks Consensus Estimate has increased by 19.8% over the past three months [8]. Zacks Rank System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7][9]. - The upgrade of 10x Genomics to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Transaction Overview - Torex Gold is set to acquire all outstanding shares of Prime Mining, implying an equity value of $449 million (US$327 million)[19] - The transaction consideration is an exchange ratio of 0.0600 Torex common shares per Prime Mining share, representing an offer price of $2.57 per Prime Mining share based on Torex's closing price on July 25, 2025[19] - This represents a 32.4% premium based on the 30-day volume-weighted average prices of Torex and Prime Mining and an 18.5% premium based on spot prices[19] Benefits to Torex Gold Shareholders - The acquisition diversifies Torex's asset base by adding the Los Reyes project, a high-quality advanced exploration/development asset, to drive growth[20] - The Los Reyes project boasts a sizeable mineral resource, materially increasing Torex's resource base[20] Benefits to Prime Mining Shareholders - Prime Mining shareholders receive an immediate and significant premium, including a 32.4% premium to the 30-day VWAP and an 18.5% premium to spot prices[21] - Prime Mining shareholders gain participation in a high-margin, growing gold-copper company through a 10.7% ownership in the pro forma company[21] Los Reyes Project Highlights - The Los Reyes project has a multi-million ounce deposit, including a high-grade mill resource[29] - The Los Reyes project contains total indicated resources of 49.0 million tonnes with a gold grade of 0.95 g/t and a silver grade of 34.2 g/t, containing 1,491 koz of gold and 54.0 Moz of silver[30] - The Los Reyes project contains total inferred resources of 17.2 million tonnes with a gold grade of 0.97 g/t and a silver grade of 39.0 g/t, containing 538 koz of gold and 21.6 Moz of silver[30] Exploration and Development - Torex has budgeted $45 million towards drilling in 2025 (124,500 metres) across its properties[41]

Core Insights - 10x Genomics and A*STAR Genome Institute of Singapore have launched a collaboration for the TISHUMAP project aimed at drug target discovery and precision medicine for cancer and inflammatory diseases [1][2][3] Group 1: Project Overview - The TISHUMAP project will analyze up to 2,500 formalin-fixed paraffin-embedded (FFPE) clinical tissue samples from various cancers, including gastric, liver, and colorectal cancers [2] - The project utilizes 10x Genomics' Xenium platform, which allows for visualization of gene activity within individual cells in intact tissues, providing a detailed molecular-level map of cellular interactions [2][4] - The collaboration aims to develop new diagnostics and personalized treatment plans by identifying novel biomarkers and drug targets through advanced AI analysis [2][3] Group 2: Collaboration Details - A*STAR GIS and 10x Genomics will work on both data generation and analysis, creating tailored gene panels and intelligent software pipelines for managing large datasets [3] - The partnership focuses on streamlining lab workflows and developing advanced tools for sample preparation, imaging, and spatial biology data analysis [3] Group 3: Company Background - 10x Genomics is a life science technology company that provides integrated research solutions for single cell and spatial biology, contributing to breakthroughs in various fields including oncology and immunology [5] - A*STAR GIS is part of Singapore's Agency for Science, Technology and Research, focusing on genomic sciences to improve human health and societal impact [6][7]

Core Insights - Torex Gold Resources Inc. reports excellent drilling results from the northern extension of the EPO deposit, indicating strong potential for resource expansion and enhanced production profiles beyond 2035 [1][4][31] Drilling Results - The recent drilling program has yielded high-grade intercepts, including 55.18 grams per tonne (gpt) AuEq over 20.1 meters in drill hole ML24-1049DA, and 4.92 gpt AuEq over 35.7 meters in ML24-1042 [3][7] - The northern portion of EPO mineralization extends over an area of at least 500 x 200 meters with vertical continuity exceeding 100 meters [3][12] Resource Expansion - The 2024 drilling program successfully added approximately 233,000 gold equivalent ounces (oz AuEq) to Inferred Resources, primarily from the northern area of the deposit [2][7] - The ongoing drilling aims to upgrade Inferred Resources to Indicated Resources, with expectations for a significant increase in resources by the year-end 2025 mineral reserve and resource update [9][16] Production Outlook - Torex is on track to achieve first production from EPO by the end of 2026, with a projected minimum annual production of at least 450,000 oz AuEq through 2030 [4][31] - The company has budgeted approximately $10 million for drilling at EPO, with $5 million allocated specifically for the northern extension [17][32] Geological Context - The EPO deposit is characterized by a complex geological setting, including the Morelos Formation and various intrusive phases, which contribute to the mineralization [18][19] - The mineralization is controlled by structural features such as the La Avispa fault, which influences the distribution of mineralized zones [11][19]

Core Viewpoint - 10x Genomics, Inc. will report its financial results for Q2 2025 on August 7, 2025, and will host a conference call to discuss these results and future outlook [1]. Group 1: Financial Reporting - The financial results for the second quarter ended June 30, 2025, will be announced after market close on August 7, 2025 [1]. - A public conference call and live webcast for analysts and investors will begin at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time [1]. Group 2: Company Overview - 10x Genomics is a life science technology company focused on products that enhance the understanding of biology and improve human health [3]. - The company offers integrated research solutions, including instruments, consumables, and software for single cell and spatial biology, aiding researchers in comprehending complex biological systems [3]. - Its products contribute to advancements in various fields such as oncology, immunology, and neuroscience, leading to significant discoveries in health and disease [3]. Group 3: Disclosure Practices - 10x Genomics utilizes various channels, including SEC filings, press releases, and social media, to disclose material non-public information and comply with disclosure obligations [4].