Short answer
10x Genomics, Inc. (TXG) filed its fiscal 2025 10-K annual report with the SEC on Feb 13, 2026. It reported revenue of $643M (+5.2% year over year) and net income of −$44M.
- Top risk flagged: Regulatory/legal risk: Patent litigation settlements with Vizgen (Feb 2025, $26M upfront) and Bruker (May 2025, $68M installments) impacting license and royalty revenue
FY2025 key financial metrics · XBRL
- Revenue
- $643M
- +5.2% YoY
- Net income
- −$44M
- +76.2% YoY
- Operating margin
- -9.5%
- +22.4 pp YoY
- Gross margin
- 69.1%
- +1.2 pp YoY
- EPS (diluted)
- −$0.35
- +77.0% YoY
- ROE
- -5.5%
- +20.2 pp YoY
- Operating cash flow
- $136M
- +1941.6% YoY
Source: XBRL data from the 10x Genomics, Inc. (TXG) FY2025 10-K on SEC EDGAR. USD.
10x Genomics, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: integrated life sciences technology products and software for analyzing biological systems with high resolution and scale
- New acquisition in 2025: Scale Biosciences, adding QuantumScale single cell RNA and methylation kits to single cell portfolio
- Strategic emphasis on expanding spatial portfolio with Visium CytAssist instrument and new Xenium analyzer for in situ RNA analysis
- Employee count increased to 1,178 in 2025, including 332 in R&D and 473 in sales/marketing/support
- Noteworthy: Sold 1,007 instruments and 424,000 consumable reactions in 2025, reflecting growth in consumable reactions despite slight instrument sales decline vs 2024
Management Discussion & Analysis
- Cash flow, buybacks, dividends, and capex data not included
- Forward-looking statements caution on risks and uncertainties without specific guidance
Risk Factors
- Regulatory/legal risk: Patent litigation settlements with Vizgen (Feb 2025, $26M upfront) and Bruker (May 2025, $68M installments) impacting license and royalty revenue
- Geopolitical/macroeconomic risk: Foreign currency fluctuations affecting revenue, mainly in euro, GBP, and JPY markets, causing realized/unrealized gains/losses of $4.6M in 2025
- Operational/supply chain risk: $7.8M increase in inventory write-downs due to product mix changes and manufacturing cost pressures in 2025
- Competitive/market disruption risk: Price declines of Spatial instruments caused 39% revenue drop ($35.9M) in 2025 amid competition and market pricing pressure
- Financial/structural risk: Dependence on contingent consideration of up to $30M from Scale Bio acquisition, with fair value remeasured quarterly causing revenue and income fluctuation
Generated from the filing text; verify against the original. How to read a 10-K
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