10x Genomics Reports Second Quarter 2026 Financial Results

PLEASANTON, Calif., Aug. 6, 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.

• 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."

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.

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.

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.

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.

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.

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.

(Unaudited)

(In thousands, except share and per share data)

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:

Single Cell

$3,087

$5,727

$8,310

$11,640

Spatial

4,574

8,770

$10,613

17,672

7,661

14,497

18,923

29,312

Single Cell

88,451

85,788

177,345

169,897

Spatial

42,301

36,397

83,208

67,644

130,752

122,185

260,553

237,541

10,681

8,475

19,514

16,127

149,094

145,157

$298,990

$282,980

1,942

27,751

$2,889

$44,811

$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):

United States *

$82,109

$103,491

$158,802

$190,309

Americas (excluding United States)

2,917

2,667

$6,323

6,419

85,026

106,158

165,125

196,728

39,972

34,734

76,824

66,629

China

14,968

23,170

30,805

40,053

Asia-Pacific (excluding China)

11,070

8,846

29,125

24,381

26,038

32,016

59,930

64,434

$151,036

$172,908

$301,879

$327,791

* Includes license and royalty revenue.

(2)

Includes stock-based compensation expense as follows:

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

(Unaudited)

(In thousands)

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

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