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Sep 30, 2025
10X Genomics Q3 2025 Earnings Report
10X Genomics reported its third quarter 2025 financial results, with revenue of $149.0 million and a net loss of $27.5 million.
Key Takeaways
10x Genomics delivered a solid third quarter, with revenue reaching $149.0 million, a 2% sequential increase excluding one-time license and royalty revenue from the prior quarter. The company reported a net loss of $27.5 million, an improvement from the $35.8 million net loss in the same period last year. Gross margin decreased to 67% due to product mix and higher inventory write-downs, while operating expenses saw a 10% reduction.
Revenue for Q3 2025 was $149.0 million, a 2% decrease from Q3 2024, primarily due to lower instrument revenue.
Net loss improved to $27.5 million in Q3 2025, compared to a net loss of $35.8 million in Q3 2024.
Gross margin was 67% in Q3 2025, down from 70% in the prior year period, influenced by product mix and inventory write-downs.
Operating expenses decreased by 10% to $132.5 million, driven by lower personnel and legal expenses.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
10x Genomics expects fourth quarter 2025 revenue to be in the range of $154 million to $158 million, representing a 6% decline from the corresponding prior year period and 5% growth sequentially at the midpoint.
Positive Outlook
- Expected sequential revenue growth of 5% at the midpoint for Q4 2025.
- Continued enthusiasm for single cell and spatial products.
- Strong balance sheet providing confidence to navigate the current environment.
- Technology leadership and innovation position the company for long-term growth.
- Started shipping next-generation Chromium Flex, offering cost-effective and scalable single cell analysis.
Challenges Ahead
- Expected 6% decline in Q4 2025 revenue from the corresponding prior year period.
- Gross margin decreased in Q3 2025 due to changes in product mix and higher inventory write-downs.
- Overall revenue decreased by 2% from the corresponding period of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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