10X Genomics ( (TXG) ) has released its Q4 earnings. Here is a breakdown of the information 10X Genomics presented to its investors.
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10x Genomics is a life science technology company that provides solutions for single cell and spatial biology, aiding researchers and biopharmaceutical companies in understanding biological systems.
In its latest earnings report, 10x Genomics announced a decrease in revenue for both the fourth quarter and the full year 2024 compared to the previous year. Despite this, the company remains optimistic about its product launches and strategic collaborations aimed at advancing research in biology.
The company reported a fourth-quarter revenue of $165 million, a 10% decrease year-over-year, and a gross margin improvement to 67%. Full-year revenue stood at $610.8 million, slightly down from 2023. Notable strategic moves include the launch of the Billion Cells Project in collaboration with the Chan Zuckerberg Initiative and Ultima Genomics, which aims to accelerate AI model development in biology.
Despite facing an operating loss of $194.6 million for the full year, the company’s financial management improved its cash and marketable securities position to $393.4 million. The operating expenses saw a reduction of 10%, which helped decrease the net loss from the previous year.
Looking forward, 10x Genomics anticipates a revenue growth of up to 3% in 2025, with expected double-digit growth in certain product lines. The company remains focused on capitalizing on its recent organizational and strategic changes to drive future success.
