10x Genomics, Inc. (TXG)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$616.9M

Revenue growth

-4.3%

Net income, last twelve months

-$75.1M

Earnings per share

-$0.59

Gross margin

70.0%

Operating margin

-14.3%

Net margin

-12.2%

Free cash flow

$121.4M

Return on equity

-9.1%

Market value

$10.7B

Cash

$502.5M

Debt

$0

Debt to equity

0.00

Shares outstanding

127.7M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 6 August 2026.

• Revenue fell as settlement income dropped. Revenue was $151.0 million against $172.9 million a year earlier. Excluding $1.6 million of settlement revenue this year and $27.3 million last year, revenue rose 3%, as the company reported.
• Operating and net results turned to loss. Operating loss was $19.6 million against operating income of $30.1 million. Net loss was $17.9 million, or $0.14 per diluted share, against net income of $34.5 million, or $0.28 per diluted share.
• Six-month revenue and loss. For the six months ended June 30, 2026, revenue was $301.9 million against $327.8 million. Net loss was $31.4 million, against net income of $0.2 million, and diluted loss per share was $0.24.
• Revenue guidance range raised. The full-year 2026 revenue range rose to $610 million to $630 million from $600 million to $625 million.
• Growth guidance raised on like basis. Growth over full year 2025, excluding settlement-related license and royalty revenue, is now 2% to 5%, against 0% to 4% in the prior release.
• Settlement revenue excluded from growth basis. The growth range excludes non-recurring license and royalty revenue from patent litigation settlements. The prior release excluded only the 2025 amount from its range.
• Consumables revenue rose 7%. Total consumables revenue was $130.8 million against $122.2 million. Single Cell consumables were $88.5 million against $85.8 million, and Spatial consumables were $42.3 million against $36.4 million.
• Spatial consumables grew fastest. Spatial consumables revenue rose about 16% to $42.3 million, while Single Cell consumables rose about 3%. Spatial covers the Visium and Xenium products.
• Instrument revenue fell 47%. Instruments revenue was $7.7 million against $14.5 million. Single Cell instruments were $3.1 million against $5.7 million, and Spatial instruments were $4.6 million against $8.8 million.
• Services revenue rose 26%. Services revenue was $10.7 million against $8.5 million. Products and services revenue, excluding license and royalty revenue, was $149.1 million against $145.2 million.
• License and royalty revenue fell. License and royalty revenue was $1.9 million against $27.8 million. The prior-year figure included non-recurring patent litigation settlement income.
• Americas revenue fell, Europe rose. Americas revenue was $85.0 million against $106.2 million, with United States revenue of $82.1 million including license and royalty revenue. Europe, Middle East and Africa rose to $40.0 million from $34.7 million.
• China revenue fell about 35%. China revenue was $15.0 million against $23.2 million. Asia-Pacific excluding China rose to $11.1 million from $8.8 million, about 25% higher.
• Asia-Pacific decline driven by China. Total Asia-Pacific revenue was $26.0 million against $32.0 million. The China decline accounts for more than the whole regional drop, with Asia-Pacific excluding China growing.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 65 held.

Every filing

The newest filings with the SEC of 149 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

427 funds held it at 30 Jun 2026: 187 added and 142 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Agilent Technologies, Inc. (A): revenue $7.4B, market value $51.2B
• Waters Corp. (WAT): revenue $4.6B, market value $46.9B
• Illumina, Inc. (ILMN): revenue $4.5B, market value $43.6B
• Mettler Toledo International Inc. (MTD): revenue $4.1B, market value $36.9B
• Revvity, Inc. (RVTY): revenue $2.9B, market value $18.5B
• Avantor, Inc. (AVTR): revenue $6.6B, market value $11.3B
• Bio-Rad Laboratories, Inc. (BIO): revenue $2.6B, market value $10.3B
• Bruker Corp. (BRKR): revenue $3.5B, market value $9.4B

What the company does

10x Genomics is a life sciences technology company that makes instruments, consumables and software for analysing biological systems at the level of single cells and tissue sections. The company says its mission is to accelerate the mastery of biology to advance human health. Since launching its first product in mid-2015 through 31 December 2025, it has sold 8,046 instruments to researchers, and it sells in over 50 countries. As of 31 December 2025 it employed 1,178 people. Its Class A common stock is listed on the Nasdaq Global Select Market under the symbol TXG.

What it sells

The commercial portfolio is made up of Single Cell and Spatial solutions. The Single Cell portfolio runs on the Chromium platform. Chromium instruments partition samples into individual components, which can exceed one million. Each partition is paired with gel beads carrying unique barcodes, so the contents can be identified after the material is pooled and sequenced together. The portfolio also includes the QuantumScale Single Cell RNA and Single Cell Methylation kits, obtained through the 2025 acquisition of Scale Biosciences, Inc.

The Spatial portfolio has two platforms. Visium uses DNA arrays with barcodes that encode physical location, so researchers can map where molecules sit in a tissue section. It includes the Visium CytAssist instrument. Xenium uses the Xenium Analyzer to detect hundreds of RNA targets in fresh frozen or FFPE tissue sections without conventional sequencing.

Software is bundled with the products. It includes Cell Ranger for processing data, Loupe Browser for Chromium and Visium data, and Xenium Explorer for in situ data.

How it makes money

Revenue comes from instruments, consumables and services. Consumables are the reagent setups for each experiment and are designed to work exclusively with 10x instruments. The exceptions are the QuantumScale Single Cell RNA kit, the Single Cell Methylation kit and the Visium v1 3' Gene Expression solution. The company says it expects consumables to remain the bulk of its revenue. Chromium Universal Gene Expression consumables were its highest selling consumables products in each of the last three years.

The company sold 424,000 consumable reactions in 2025: 378,300 for Chromium, 31,200 for Visium and 14,500 for Xenium. Cumulative instruments sold stand at 6,477 Chromium, 1,015 Visium and 554 Xenium.

Services are post-warranty instrument service agreements, usually one year long and starting after the standard one-year warranty. The company also earns license and royalty revenue from third parties, including from settlements of patent litigation with Vizgen, Inc. and Bruker Corporation. Some sales are in euros, Great British pounds and Japanese yen.

Who buys from it

Customers are mainly academic, government, biopharmaceutical, biotechnology and other institutions focused on life sciences research. Academic and government institutions account for the largest portion of direct sales revenue. In both 2025 and 2024, no single customer, including distributors, represented more than 10% of the business.

The company sells through its own direct sales force in North America and certain regions of Europe. It uses third-party distributors in certain regions of Asia, Europe, Oceania, North America, South America, the Middle East and Africa. Margins are generally higher on direct sales than on sales through distributors. Marketing targets principal investigators, research scientists, department heads and laboratory and core facility directors, who control buying decisions.

How it makes its products

Manufacturing operations in Pleasanton, California, Singapore and Taiwan are ISO 9001:2015 certified. Most consumables are made in the company's own facilities, including gel bead generation, reagent formulation, tube filling, certain microfluidic chips and kit assembly. Chromium, Visium and Xenium instruments are made by contract manufacturers that have represented that they hold ISO 13485 certification. The company does optical and final assembly, integration and testing of the Xenium instrument itself. Some components come from a single supplier, and the company has qualified second sources for some, but not all, of its components.

Competition, patents and regulation

The filing describes the industry as highly competitive, with established and early stage companies offering genomics, single cell, spatial and in situ analysis products. Some competitors may have greater financial resources, larger research and development staff or greater name recognition. The company says it believes it is differentiated by the capabilities and performance of its products, its proprietary technologies and its product development processes.

As of 31 December 2025 it owned or exclusively in-licensed over 1,598 issued or allowed patents and 1,123 pending patent applications. It holds exclusive licenses from Harvard and Stanford and pays them royalties. Its registered trademarks include 10X GENOMICS, CHROMIUM, VISIUM and XENIUM.

Products intended for clinical or diagnostic use would face FDA and foreign regulatory requirements, including clearance or approval.

Its people

Of the 1,178 employees, 822 work in the United States and 356 work outside it. By function, 332 are in research and development, 473 in sales, marketing and support, 185 in general and administrative roles and 188 in manufacturing. The filing says many hold PhDs, as do most of the senior management team and board members. No employees in the United States are represented by a labor union, and the company has never experienced a work stoppage.

*From 10x Genomics's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1770787/000162828026007822/txg-20251231.htm)*

From the company's 10-K.