10x Genomics 2025 Q3 Earnings Beats Estimates, Narrows Net Loss by 23.2%

10x Genomics (TXG) reported Q3 2025 earnings on November 8, 2025, with revenue of $149 million, exceeding the Zacks Consensus Estimate by 4.64%. The stock has surged 26.35% month-to-date, driven by strong consumables demand and strategic product launches. Despite a 1.7% year-over-year revenue decline, the company narrowed its net loss to $27.47 million, a 23.2% improvement, and provided optimistic Q4 guidance.

Revenue

Total revenue for Q3 2025 declined 1.7% year-over-year to $149 million, with instrument revenue totaling $12 million. Consumables remained a growth driver, generating $127.89 million, led by $92.52 million in Chromium consumables and $35.37 million in Spatial consumables. Services revenue reached $8.13 million, while license and royalty revenue contributed $983,000. The decline in instrument sales, particularly in Chromium ($4.93 million) and Spatial ($7.07 million) segments, offset gains in consumables.

Earnings/Net Income

The company narrowed its net loss to $27.47 million in Q3 2025, down 23.2% from $35.75 million in the prior-year period. Earnings per share (EPS) improved to -$0.22 from -$0.30, reflecting 26.7% efficiency gains. Operating expenses decreased by 10% to $132.5 million, and the company ended the quarter with $482.1 million in cash and marketable securities. The 23.2% reduction in net loss signals progress, though seven consecutive quarters of losses underscore persistent challenges.

Price Action

The stock price of 10x Genomics surged 6.57% in the latest trading day, 11.80% for the week, and 26.35% month-to-date.

Post-Earnings Price Action Review

Recent performance highlights TXG’s ability to consistently outperform consensus EPS estimates in three of the last four quarters, signaling strong fundamentals. The Q4 guidance of $154–$158 million reflects sequential growth potential, bolstered by the launch of the Chromium Flex assay, which enhances scalability and reduces costs. With $482.1 million in cash, the company is well-positioned to navigate macroeconomic uncertainties and fund innovation. However, challenges such as academic and government funding pressures remain risks. The strategic focus on partnerships and product innovation, including the Xenium Protein launch, could drive long-term growth, but investors must weigh short-term volatility against the company’s resilience.

CEO Commentary

Serge Saxonov, CEO of 10x Genomics, emphasized the company’s progress in navigating a challenging market. “Our team delivered a solid third quarter, and we continue to see notable enthusiasm for our single-cell and spatial products,” he stated. He highlighted the successful launch of the Chromium Flex assay and Xenium Protein, which address scalability and cost-effectiveness in research workflows. Saxonov acknowledged ongoing margin pressures but expressed confidence in the company’s ability to innovate and maintain leadership in genomic technology.

Guidance

10x Genomics provided Q4 2025 revenue guidance of $154–$158 million, reflecting a 5% sequential growth at the midpoint. The company expects continued momentum in consumables demand and product adoption, though macroeconomic headwinds and funding uncertainties may temper growth. No 2026 guidance was provided due to ongoing uncertainties.

Additional News

Recent developments include a partnership with Anthropic to enhance data analysis capabilities, the launch of the automation-compatible Chromium Flex assay, and the introduction of Xenium Protein for multiomic workflows. These innovations aim to address scalability and cost barriers in single-cell research. Additionally, the company’s strong cash position of $482.1 million supports strategic investments and R&D initiatives.