10x Genomics Reports Second Quarter 2026 Financial Results

10x Genomics Reports Second Quarter 2026 Financial Results 08/06/2026 , /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), the life science technology leader focused on accelerating science and advancing human health, today reported financial results for the second quarter ended June 30, 2026. Recent Updates Revenue was $151.0 million for the second quarter of 2026. Excluding $1.6 million related to a patent litigation settlement, revenue was $149.4 million. Revenue increased 3% over the corresponding period of 2025 when excluding non-recurring settlement revenue in both the current and prior-year periods.Acquired Proteintech Genomics, a division within Proteintech Group, strengthening the company's multiomics strategy by adding advanced protein detection capabilities to its single cell and spatial platforms.Announced multi-year research collaborations with Cleveland Clinic and Lausanne University Hospital to advance research in diagnostic applications of single cell and spatial technologies for cancer care, furthering the company's diagnostics strategy. "The story of the quarter was the extraordinary customer response to Atera. We are highly encouraged by the engagement across the research ecosystem and the very strong early order flow," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "Combined with the continued momentum across the rest of the business and our strong operating foundation, we are uniquely well-positioned for the opportunities ahead." Second Quarter 2026 Financial Results Revenue was $151.0 million for the second quarter of 2026, as compared to $172.9 million for the corresponding period of 2025. Excluding $1.6 million and $27.3 million of non-recurring revenue related to patent litigation settlements in the second quarter of 2026 and 2025, respectively, revenue increased 3% over the corresponding period of 2025. Gross margin was 74% for the second quarter of 2026, as compared to 72% for the corresponding prior year period. The increase in gross margin was primarily due to lower manufacturing costs, which included $2.6 million of tariff refunds, as well as lower inventory write-downs, partially offset by a decrease in non-recurring license and royalty revenue. Operating expenses were $132.1 million for the second quarter of 2026, a 39% increase from $95.0 million for the corresponding prior year period. The increase was primarily due to a lower gain on settlement of $3.4 million recognized in the second quarter of 2026, as compared to a $40.7 million gain on settlement recognized in the second quarter of 2025. Excluding impacts from settlements, operating expenses were approximately flat year-over-year. Operating loss was $19.6 million for the second quarter of 2026, as compared to operating income of $30.1 million for the corresponding prior year period. Net loss was $17.9 million for the second quarter of 2026, as compared to net income of $34.5 million for the corresponding prior year period. Cash and cash equivalents and marketable securities were $552.0 million as of June 30, 2026. 2026 Financial Guidance 10x Genomics is raising its full year 2026 revenue guidance and now expects revenue in the range of $610 million to $630 million, versus the previous range of $600 million to $625 million. Excluding the non-recurring license and royalty revenue related to patent litigation settlements in both 2026 and 2025, this represents 2% to 5% growth over full year 2025. Webcast and Conference Call Information 10x Genomics will host a conference call to discuss the second quarter 2026 financial results, business developments and outlook after market close on Thursday, August 6, 2026 at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A webcast of the conference call can be accessed at http://investors.10xgenomics.com. The webcast will be archived and available for replay at least 45 days after the event. About 10x Genomics 10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated research solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world's understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn, X, Facebook, Bluesky or YouTube. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements included in this press release, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "outlook," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc.'s products, services, business strategy, collaborations and opportunities and 10x Genomics, Inc.'s financial performance and results of operations, including expectations regarding revenue and guidance. These statements are based on management's current expectations, forecasts, beliefs, estimates, assumptions and information currently available to management. Actual outcomes and results could differ materially from these statements due to a number of factors and such statements should not be relied upon as representing 10x Genomics, Inc.'s views as of any date subsequent to the date of this press release. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements provided to reflect any change in 10x Genomics' expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. The material risks and uncertainties that could affect 10x Genomics, Inc.'s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recently-filed 10-K for the fiscal year ended December 31, 2025 filed on February 12, 2026 and the company's quarterly report on Form 10-Q for the quarter ended June 30, 2026 to be filed with the U.S. Securities and Exchange Commission ("SEC"), and elsewhere in the documents 10x Genomics, Inc. files with the SEC from time to time. Disclosure Information 10x Genomics uses filings with the Securities and Exchange Commission, its website (www.10xgenomics.com), press releases, public conference calls, public webcasts and its social media accounts as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Contacts Investors: [email protected] Media: [email protected] 10x Genomics, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Products and services revenue $ 149,094 $ 145,157 $ 298,990 $ 282,980 License and royalty revenue 1,942 27,751 2,889 44,811 Revenue(1) 151,036 172,908 301,879 327,791 Cost of products and services revenue(2) 38,539 47,824 83,204 97,262 Gross profit 112,497 125,084 218,675 230,529 Operating expenses: Research and development(2) 56,791 61,224 113,638 125,469 Selling, general and administrative(2) 78,661 74,434 145,038 164,162 Gain on settlement (3,400) (40,700) (3,400) (49,900) Total operating expenses 132,052 94,958 255,276 239,731 Income (loss) from operations (19,555) 30,126 (36,601) (9,202) Other income (expense): Interest income 4,797 4,271 9,811 7,957 Interest expense — (3) — (3) Other income (expense), net (3,887) 2,603 (4,702) 4,739 Total other income 910 6,871 5,109 12,693 Income (loss) before provision for income taxes (18,645) 36,997 (31,492) 3,491 Provision for (benefit from) income taxes (714) 2,459 (91) 3,311 Net income (loss) $ (17,931) $ 34,538 $ (31,401) $ 180 Net income (loss) per share, basic $ (0.14) $ 0.28 $ (0.24) $0.00 Net income (loss) per share, diluted $ (0.14) $ 0.28 $ (0.24) $0.00 Weighted-average shares used to compute net income (loss) per share, basic 129,984,169 123,755,409 129,050,312 123,183,924 Weighted-average shares used to compute net income (loss) per share, diluted 129,984,169 124,509,720 129,050,312 124,258,150 (1) The following table represents total revenue by source for the periods indicated (in thousands). Spatial includes the Company's Visium and Xenium products: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Instruments Single Cell $ 3,087 $ 5,727 $ 8,310 $ 11,640 Spatial 4,574 8,770 $ 10,613 17,672 Total instruments revenue 7,661 14,497 18,923 29,312 Consumables Single Cell 88,451 85,788 177,345 169,897 Spatial 42,301 36,397 83,208 67,644 Total consumables revenue 130,752 122,185 260,553 237,541 Services 10,681 8,475 19,514 16,127 Products and services revenue 149,094 145,157 $ 298,990 $ 282,980 License and royalty revenue 1,942 27,751 $ 2,889 $ 44,811 Total revenue $ 151,036 $ 172,908 $ 301,879 $ 327,791 (1) The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Americas United States* $ 82,109 $ 103,491 $ 158,802 $ 190,309 Americas (excluding United States) 2,917 2,667 $ 6,323 6,419 Total Americas 85,026 106,158 165,125 196,728 Europe, Middle East and Africa 39,972 34,734 76,824 66,629 Asia-Pacific China 14,968 23,170 30,805 40,053 Asia-Pacific (excluding China) 11,070 8,846 29,125 24,381 Total Asia-Pacific 26,038 32,016 59,930 64,434 Total revenue $ 151,036 $ 172,908 $ 301,879 $ 327,791 * Includes license and royalty revenue. (2) Includes stock-based compensation expense as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2026 2025 2026 2025 Cost of revenue $ 1,836 $ 1,989 $ 3,754 $ 4,470 Research and development 10,533 12,613 21,228 26,719 Selling, general and administrative 13,247 12,643 23,276 27,132 Total stock-based compensation expense $ 25,616 $ 27,245 $ 48,258 $ 58,321 10x Genomics, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands) June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 502,512 $ 473,966 Marketable securities 49,521 49,443 Accounts receivable, net 47,545 47,013 Other receivables 3,084 35,480 Inventory 52,616 56,341 Prepaid expenses and other current assets 19,393 22,208 Total current assets 674,671 684,451 Property and equipment, net 215,324 226,711 Operating lease right-of-use assets 56,685 60,450 Goodwill 6,918 4,511 Intangible assets, net 61,160 62,329 Other noncurrent assets 15,308 2,913 Total assets $ 1,030,066 $ 1,041,365 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 20,694 $ 12,733 Accrued compensation and related benefits 24,744 42,500 Accrued expenses and other current liabilities 30,377 39,971 Deferred revenue 23,610 23,902 Operating lease liabilities 12,015 10,985 Contingent consideration, current 7,069 23,363 Total current liabilities 118,509 153,454 Contingent consideration, noncurrent 2,991 1,237 Operating lease liabilities, noncurrent 66,781 73,376 Deferred revenue, noncurrent 9,683 10,501 Other noncurrent liabilities 6,556 6,471 Total liabilities 204,520 245,039 Stockholders' equity: Preferred stock — — Common stock 2 2 Additional paid-in capital 2,367,459 2,306,690 Accumulated deficit (1,541,992) (1,510,591) Accumulated other comprehensive income 77 225 Total stockholders' equity 825,546 796,326 Total liabilities and stockholders' equity $ 1,030,066 $ 1,041,365 View original content to download multimedia:https://www.prnewswire.com/news-releases/10x-genomics-reports-second-quarter-2026-financial-results-302845409.html SOURCE 10x Genomics, Inc.