10X Genomics ( (TXG) ) has released its Q1 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 specializing in single cell and spatial biology, providing integrated solutions that include instruments, consumables, and software to advance human health.
In the first quarter of 2025, 10x Genomics reported a revenue of $154.9 million, marking a 10% increase compared to the previous year, although this figure includes $16.8 million from a patent litigation settlement. The company also announced a strategic plan to reduce operating expenses by over $50 million for the year, which includes an 8% reduction in its global workforce.
Key financial highlights include a gross margin increase to 68%, driven by higher license and royalty revenue and lower manufacturing costs. Operating expenses decreased by 6% to $144.8 million, resulting in a reduced operating loss of $39.3 million. The net loss for the quarter was $34.4 million, an improvement from the $59.9 million loss in the same period last year.
10x Genomics continues to innovate, unveiling a roadmap for product launches across its platforms and announcing a partnership with Arc Institute to enhance single cell data capabilities. Despite uncertainties in U.S. research funding, the company remains focused on serving customers and making strategic investments.
Looking ahead, 10x Genomics has withdrawn its full-year revenue guidance due to recent U.S. policy changes affecting research funding. However, it expects second-quarter revenue to range between $138 million and $142 million, excluding settlement-related revenue, reflecting a modest sequential growth.