On February 12, 2026, 10x Genomics, Inc. (Nasdaq: TXG), a prominent player in the fields of single cell and spatial biology, released its financial results for the fourth quarter and full year ending December 31, 2025. This press release not only highlighted the company’s financial performance but also provided a glimpse into its strategic direction for 2026.

1. Overview of Financial Performance

Fourth Quarter Results

10x Genomics reported a revenue of $166.0 million for Q4 2025, reflecting a modest 1% increase from $165.0 million in Q4 2024. This growth was attributed to the company's robust product offerings in single cell and spatial biology.

Gross Margin: The gross margin for the fourth quarter improved to 68%, up from 67% in the prior year, driven by lower costs associated with inventory write-downs, royalties, and warranties.

Operating Expenses: Operating expenses saw a notable decrease, amounting to $132.6 million—an 18% reduction from $160.8 million in the same quarter of the previous year. This decline was primarily due to lower legal and personnel expenses.

Net Loss: The net loss for Q4 2025 was $16.3 million, significantly reduced from $49.0 million in Q4 2024.

Full Year 2025 Results

For the entire year, 10x Genomics achieved a revenue of $642.8 million, a 5% increase from $610.8 million in 2024. However, excluding a one-time revenue boost of $44.1 million from patent litigation settlements, the adjusted revenue was $598.7 million, indicating a 2% decline year-over-year.

Gross Margin: The full-year gross margin rose to 69%, compared to 68% in 2024, bolstered by increased license and royalty revenues and decreased royalty and warranty costs.

Operating Loss: The operating loss narrowed to $61.0 million, significantly improved from $194.6 million in 2024.

Net Loss: The net loss for the year was $43.5 million, down from $182.6 million in 2024.

Cash Position

10x Genomics concluded 2025 with $523.4 million in cash and cash equivalents along with marketable securities, marking an increase of $130.0 million compared to the previous year.

2. Strategic Initiatives and Partnerships

In addition to the financial results, 10x Genomics announced several strategic collaborations aimed at enhancing its research capabilities and product offerings:

Partnership with Cancer Research Institute and PharosAI: The company is collaborating to create extensive AI-ready datasets for cancer research, utilizing its Chromium and Xenium platforms.

Collaboration with Dana-Farber Cancer Institute: This initiative aims to analyze patient tumor samples to potentially integrate single cell and spatial tumor analysis into diagnostic workflows.

Study with Brigham & Women's Hospital: This study focuses on identifying single cell blood-based signatures of autoimmune disease, aimed at supporting clinical care.

3. Outlook for 2026

Looking ahead, 10x Genomics has set its revenue guidance for 2026 in the range of $600 million to $625 million. Excluding the one-time license and royalty revenue from 2025, this forecast reflects expected growth of 0% to 4% year-over-year.

4. Leadership Remarks

Serge Saxonov, Co-founder and CEO of 10x Genomics, expressed optimism regarding the company’s future, stating, "In 2025, our team executed with discipline through a challenging environment while continuing to strengthen the fundamentals of the business. As we look to 2026, I am excited by the expanding impact of our platforms, driven by new product innovations and strategic partnerships."

5. Conclusion

10x Genomics continues to position itself as a leader in the life sciences sector, focusing on innovative solutions in single cell and spatial biology. With a solid financial foundation and strategic collaborations, the company is well-equipped to navigate the evolving landscape of biomedical research. Investors and stakeholders will be keenly watching how these developments unfold in the coming year.

Original press release