10x Genomics Reports 13% Revenue Growth in Q2 2025, Net Income Recovery

10x Genomics, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $172.9 million, a 13% increase from $153.1 million in the same period last year. The company’s products and services revenue decreased by 5% to $145.2 million, primarily due to a significant drop in instruments revenue, which fell 39% to $14.5 million. However, license and royalty revenue surged to $27.8 million, compared to just $0.1 million in the prior year, largely driven by settlements with Vizgen, Inc. and Bruker Corporation. The net income for the quarter was $34.5 million, a notable recovery from a net loss of $37.9 million in Q2 2024.

In the first half of 2025, 10x Genomics generated total revenue of $327.8 million, an 11% increase from $294.1 million in the same period of 2024. The company reported a slight net income of $0.2 million, contrasting sharply with a net loss of $97.8 million in the first half of the previous year. The improved financial performance was attributed to a combination of increased license and royalty revenue and a significant reduction in operating expenses, which fell by 20% to $239.7 million due to restructuring efforts and lower legal costs.

Operationally, 10x Genomics has seen a decrease in its employee headcount following a reduction in force implemented in May 2025, aimed at streamlining operations and reducing costs. The company recorded restructuring charges of $6.0 million associated with this plan. Despite the workforce reduction, the company continues to focus on expanding its product offerings, including the anticipated acquisition of Scale Biosciences, Inc. for $30 million, which is expected to enhance its capabilities in the life sciences technology sector.

Geographically, the company reported strong growth in the Asia-Pacific region, particularly in China, where revenue increased to $23.2 million from $13.7 million year-over-year. The Americas, particularly the United States, remained the largest market, contributing $103.5 million in revenue for the quarter. The company’s cash and cash equivalents, along with marketable securities, totaled $447.3 million as of June 30, 2025, providing a solid liquidity position to support ongoing operations and strategic initiatives.

Looking ahead, 10x Genomics anticipates a slight decline in revenues, excluding the impact of license and royalty revenue, for the third quarter of 2025. The company expects to continue incurring operating losses in the near term but believes that its existing cash reserves and revenue generation capabilities will be sufficient to meet its operational needs for at least the next 12 months. The management remains focused on long-term growth strategies, including potential acquisitions and investments in new technologies.