10x Genomics Sees Strong Growth with Q2 Results, Strategic Acquisition, and Optimistic Outlook

10x Genomics is poised for growth, with strong Q2 results, a strategic acquisition, and optimistic guidance. Total revenue surpassed estimates, driven by a patent litigation settlement. The acquisition of Scale Biosciences enhances its technology portfolio. Despite challenges in the academic and biopharma markets, the company's strong product adoption and strategic initiatives position it well for growth. Analyst Kyle Mikson CFA maintains a Buy rating and $15.00 price target.

Pleasanton, Calif., Aug. 7, 2025 – 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, reported financial results for the second quarter ended June 30, 2025. The company's revenue was $172.9 million, which was $27.3 million higher than the prior year due to a patent litigation settlement. Excluding this settlement, revenue was $145.6 million, a 5% decrease from the corresponding period of 2024. The company ended the quarter with $447.3 million in cash and cash equivalents and marketable securities, a $20 million increase over the prior quarter.

10x Genomics entered into a definitive agreement to acquire Scale Biosciences for upfront cash and stock consideration of $30 million, plus contingent consideration that could become payable upon the achievement of certain milestones. The acquisition aims to strengthen the company's leadership in single cell analysis with key technology that will drive innovation and expand access by enabling more powerful, affordable, and scalable experiments across a broader range of applications.

The company also announced the beginning of shipping Visium HD 3' and HD cell segmentation, expanding the Visium portfolio's capabilities by enabling high-resolution, high-sensitivity profiling across a wider range of applications. Additionally, 10x Genomics partnered with the Genome Institute of Singapore on the TISHUMAP initiative, which will leverage Xenium and AI to uncover novel biomarkers and therapeutic targets for cancer and inflammatory diseases.

Financial Highlights

- Revenue: $172.9 million for the second quarter of 2025, excluding the patent litigation settlement, revenue was $145.6 million.
- Gross Margin: 72% for the second quarter of 2025, compared to 68% for the corresponding prior year period.
- Operating Expenses: $95.0 million for the second quarter of 2025, a 35% decrease from $146.0 million for the corresponding prior year period.
- Operating Income: $30.1 million for the second quarter of 2025, compared to an operating loss of $41.7 million for the corresponding prior year period.
- Net Income: $34.5 million for the second quarter of 2025, compared to a net loss of $37.9 million for the corresponding prior year period.

Outlook

10x Genomics expects third quarter 2025 revenue to be in the range of $140 million to $144 million. The company will host a conference call to discuss the second quarter 2025 financial results, business developments, and outlook after market close on Thursday, August 7, 2025, at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A webcast of the conference call can be accessed at [investors.10xgenomics.com](http://investors.10xgenomics.com).

Analyst Insights

Analyst Kyle Mikson CFA maintains a Buy rating and $15.00 price target on the stock, citing strong product adoption and strategic initiatives that position the company well for growth despite challenges in the academic and biopharma markets.

References

[1] https://www.biospace.com/press-releases/10x-genomics-reports-second-quarter-2025-financial-results