10x Genomics Reports Q3 2025 Revenue of $149M, Net Loss of $27.5M

10x Genomics, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $149.0 million, a slight decrease of 2% compared to $151.7 million in the same period last year. The company's products and services revenue also fell by 2% to $148.0 million, down from $151.6 million. Notably, instruments revenue saw a significant decline of 37%, dropping to $12.0 million from $19.1 million, while consumables revenue increased marginally by 1% to $127.9 million. The net loss for the quarter was $27.5 million, an improvement from the $35.8 million loss reported in Q3 2024.

In terms of year-to-date performance, 10x Genomics recorded total revenue of $476.8 million for the nine months ending September 30, 2025, which represents a 7% increase from $445.8 million in the same period of the previous year. The increase was primarily driven by a rise in service revenue, which grew by 40% to $24.3 million, attributed to an uptick in service plans for instruments coming off warranty. The company’s accumulated deficit now stands at $1.5 billion, with cash and cash equivalents totaling $432.5 million as of the end of the quarter.

Strategically, 10x Genomics completed the acquisition of Scale Biosciences, Inc. on August 11, 2025, for a total upfront payment of $22.7 million, which included $9.2 million in cash and $13.5 million in stock. This acquisition is expected to enhance the company’s capabilities in single-cell genomics technology. Additionally, the company implemented a reduction in force in May 2025, resulting in restructuring charges of $6.0 million, aimed at streamlining operations and reducing costs.

Operationally, 10x Genomics reported a decrease in accounts receivable, which fell by $44.5 million, indicating improved cash collection processes. The company also experienced a reduction in inventory levels, which decreased by $22.4 million. The total employee headcount was reduced by approximately 8% due to the restructuring efforts. The company anticipates that its revenues will moderately increase in the fourth quarter of 2025, supported by the ongoing integration of Scale Biosciences and a focus on expanding service offerings.

Looking ahead, 10x Genomics expects to continue incurring operating losses in the near term, but believes that its existing cash reserves and anticipated revenue growth will be sufficient to meet its operational needs for at least the next 12 months. The company plans to invest between $15 million and $20 million in capital expenditures over the next year, primarily for manufacturing and research and development purposes.