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Mar 31, 2025
10X Genomics Q1 2025 Earnings Report
Estimated Revenue:$129M
-9.6% YoY
Estimated EPS:-$0.286
+37.8% YoY
Key Takeaways
10x Genomics reported a 10% increase in total revenue for Q1 2025, driven by a patent litigation settlement. Excluding the settlement, revenue decreased by 2% year-over-year, primarily due to lower instrument sales. The company ended the quarter with $426.9 million in cash and marketable securities and announced cost reduction initiatives.
Total revenue for Q1 2025 was $154.9 million, a 10% increase year-over-year.
Excluding a $16.8 million patent litigation settlement, revenue was $138.1 million, a 2% decrease year-over-year.
Net loss for Q1 2025 was $34.4 million, an improvement from a $59.9 million net loss in the prior year period.
The company ended the quarter with $426.9 million in cash and cash equivalents and marketable securities.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
10x Genomics is withdrawing its previously issued full year revenue guidance due to uncertainty in U.S. academic and government research funding. The company is providing guidance for the second quarter of 2025.
Positive Outlook
- Customer enthusiasm remains strong.
- Improving consumables trends noted.
- Product roadmap includes launches across all three platforms (Chromium, Visium, Xenium).
- Partnership with Arc Institute to accelerate development of Arc Virtual Cell Atlas.
- Prioritizing cost reduction initiatives to protect the balance sheet.
Challenges Ahead
- Withdrawal of full year revenue guidance.
- Uncertainty in U.S. academic and government research funding.
- Temporary move to quarterly guidance.
- Significant decrease in instrument revenue in Q1 2025.
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