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Dec 31, 2025
10X Genomics Q4 2025 Earnings Report
10x Genomics reported its financial results for the fourth quarter and full year ended December 31, 2025.
Key Takeaways
10x Genomics reported a 1% increase in revenue for the fourth quarter of 2025, reaching $166.0 million, and a net loss of $16.3 million. The company also announced partnerships and collaborations aimed at expanding its AI-ready datasets for cancer research and integrating single cell and spatial tumor analysis into diagnostic workflows.
Fourth quarter 2025 revenue increased by 1% to $166.0 million compared to the prior year period.
Gross margin for Q4 2025 was 68%, up from 67% in Q4 2024, primarily due to lower inventory write-downs, royalty, and warranty costs.
Operating expenses decreased by 18% to $132.6 million in Q4 2025, driven by lower outside legal and personnel expenses.
Net loss for Q4 2025 was $16.3 million, a significant improvement from a net loss of $49.0 million in Q4 2024.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
10x Genomics expects full year 2026 revenue to be in the range of $600 million to $625 million, representing 0% to 4% growth over full year 2025, excluding non-recurring license and royalty revenue related to patent litigation settlements in 2025.
Positive Outlook
- Expected revenue growth of 0% to 4% for full year 2026, excluding non-recurring items.
- Continued strengthening of business fundamentals.
- Expanding impact of platforms driven by new product innovations.
- Strategic partnerships contributing to growth.
- Well-positioned to execute across multiple growth vectors including AI-driven demand, translational research, and emerging clinical opportunities.
Challenges Ahead
- Growth rate of 0% to 4% for 2026 is modest.
- Exclusion of non-recurring license and royalty revenue from 2025 growth calculation suggests reliance on one-time gains in the prior year.
- Challenging environment mentioned in 2025 may persist.
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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