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Dec 31, 2024
10X Genomics Q4 2024 Earnings Report
10x Genomics reported a decrease in revenue and net loss for the fourth quarter of 2024 compared to the previous year.
Key Takeaways
10x Genomics experienced a 10% decrease in revenue for Q4 2024, totaling $165.0 million, and a net loss of $49.0 million, which remained consistent with the prior year. Despite the revenue decline, the company improved its gross margin and reduced operating expenses.
Fourth quarter 2024 revenue decreased by 10% to $165.0 million compared to $184.0 million in Q4 2023.
Net loss for Q4 2024 was $49.0 million, unchanged from Q4 2023.
Gross margin improved to 67% in Q4 2024 from 63% in Q4 2023, primarily due to a change in product mix.
Operating expenses decreased by 6% to $160.8 million in Q4 2024, driven by lower in-process research and development expense, partially offset by increased outside litigation expenses.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
10x Genomics expects full year 2025 revenue to be in the range of $610 million to $630 million, representing 0% to 3% growth over full year 2024.
Positive Outlook
- Guidance implies double-digit growth for Chromium reactions.
- Guidance implies double-digit growth for overall spatial revenue.
- Company aims to deliver consistent execution in 2025.
- Strong conviction in the large market opportunity ahead.
- Launched major new products across all three platforms in 2024.
Challenges Ahead
- Guidance range of 0% to 3% growth is relatively modest.
- Current uncertainty within U.S. academic research is noted.
- Revenue growth is projected to be flat to slightly positive.
- No specific financial targets beyond revenue growth were provided.
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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