Document
Exhibit 99.1
10x Genomics Reports Second Quarter 2026 Financial Results
PLEASANTON, Calif. August 6, 2026 – 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.
Recent Updates
•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.”
Second Quarter 2026 Financial Results
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.
2026 Financial Guidance
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.
Webcast and Conference Call Information
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.
About 10x Genomics
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.
Forward Looking Statements
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.
Disclosure Information
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.
Contacts
Investors: investors@10xgenomics.com
Media: media@10xgenomics.com
10x Genomics, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except share and per share data)
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Products and services revenue |
$ |
149,094 |
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$ |
145,157 |
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$ |
298,990 |
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$ |
282,980 |
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| License and royalty revenue |
1,942 |
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27,751 |
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2,889 |
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44,811 |
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Revenue (1)
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151,036 |
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172,908 |
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301,879 |
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327,791 |
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Cost of products and services revenue (2)
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38,539 |
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47,824 |
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83,204 |
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97,262 |
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| Gross profit |
112,497 |
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125,084 |
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218,675 |
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230,529 |
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| Operating expenses: |
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Research and development (2)
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56,791 |
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61,224 |
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113,638 |
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125,469 |
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Selling, general and administrative (2)
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78,661 |
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74,434 |
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145,038 |
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164,162 |
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| Gain on settlement |
(3,400) |
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(40,700) |
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(3,400) |
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(49,900) |
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| Total operating expenses |
132,052 |
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94,958 |
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255,276 |
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239,731 |
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| Income (loss) from operations |
(19,555) |
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30,126 |
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(36,601) |
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(9,202) |
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| Other income (expense): |
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| Interest income |
4,797 |
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4,271 |
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9,811 |
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7,957 |
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| Interest expense |
— |
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(3) |
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— |
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(3) |
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| Other income (expense), net |
(3,887) |
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2,603 |
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(4,702) |
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4,739 |
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| Total other income |
910 |
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6,871 |
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5,109 |
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12,693 |
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| Income (loss) before provision for income taxes |
(18,645) |
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36,997 |
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(31,492) |
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3,491 |
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| Provision for (benefit from) income taxes |
(714) |
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2,459 |
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(91) |
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3,311 |
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| Net income (loss) |
$ |
(17,931) |
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$ |
34,538 |
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$ |
(31,401) |
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$ |
180 |
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| Net income (loss) per share, basic |
$ |
(0.14) |
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$ |
0.28 |
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$ |
(0.24) |
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$0.00 |
| Net income (loss) per share, diluted |
$ |
(0.14) |
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$ |
0.28 |
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$ |
(0.24) |
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$0.00 |
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| Weighted-average shares used to compute net income (loss) per share, basic |
129,984,169 |
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123,755,409 |
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129,050,312 |
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123,183,924 |
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| Weighted-average shares used to compute net income (loss) per share, diluted |
129,984,169 |
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124,509,720 |
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129,050,312 |
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124,258,150 |
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__________________________
(1) The following table represents total revenue by source for the periods indicated (in thousands). Spatial includes the Company’s Visium and Xenium products:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Instruments |
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| Single Cell |
$ |
3,087 |
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$ |
5,727 |
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$ |
8,310 |
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$ |
11,640 |
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| Spatial |
4,574 |
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8,770 |
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$ |
10,613 |
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17,672 |
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| Total instruments revenue |
7,661 |
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14,497 |
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18,923 |
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29,312 |
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| Consumables |
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| Single Cell |
88,451 |
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85,788 |
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177,345 |
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169,897 |
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| Spatial |
42,301 |
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36,397 |
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83,208 |
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67,644 |
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| Total consumables revenue |
130,752 |
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122,185 |
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260,553 |
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237,541 |
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| Services |
10,681 |
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8,475 |
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19,514 |
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16,127 |
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| Products and services revenue |
149,094 |
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|
145,157 |
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$ |
298,990 |
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$ |
282,980 |
|
| License and royalty revenue |
1,942 |
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|
27,751 |
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$ |
2,889 |
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$ |
44,811 |
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| Total revenue |
$ |
151,036 |
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$ |
172,908 |
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$ |
301,879 |
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$ |
327,791 |
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(1) The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Americas |
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United States*
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$ |
82,109 |
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$ |
103,491 |
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$ |
158,802 |
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$ |
190,309 |
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| Americas (excluding United States) |
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2,917 |
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2,667 |
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$ |
6,323 |
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6,419 |
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| Total Americas |
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85,026 |
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106,158 |
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165,125 |
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196,728 |
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| Europe, Middle East and Africa |
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39,972 |
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34,734 |
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76,824 |
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66,629 |
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| Asia-Pacific |
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| China |
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14,968 |
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23,170 |
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30,805 |
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40,053 |
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| Asia-Pacific (excluding China) |
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11,070 |
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8,846 |
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29,125 |
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24,381 |
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| Total Asia-Pacific |
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26,038 |
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32,016 |
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59,930 |
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64,434 |
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| Total revenue |
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$ |
151,036 |
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$ |
172,908 |
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$ |
301,879 |
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$ |
327,791 |
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* Includes license and royalty revenue.
(2) Includes stock-based compensation expense as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
(in thousands) |
2026 |
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2025 |
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2026 |
|
2025 |
| Cost of revenue |
$ |
1,836 |
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$ |
1,989 |
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$ |
3,754 |
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$ |
4,470 |
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| Research and development |
10,533 |
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12,613 |
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21,228 |
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26,719 |
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| Selling, general and administrative |
13,247 |
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12,643 |
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23,276 |
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27,132 |
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| Total stock-based compensation expense |
$ |
25,616 |
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$ |
27,245 |
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$ |
48,258 |
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$ |
58,321 |
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10x Genomics, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands)
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June 30,
2026 |
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December 31,
2025 |
| Assets |
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| Current assets: |
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| Cash and cash equivalents |
$ |
502,512 |
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$ |
473,966 |
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| Marketable securities |
49,521 |
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49,443 |
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| Accounts receivable, net |
47,545 |
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47,013 |
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| Other receivables |
3,084 |
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35,480 |
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| Inventory |
52,616 |
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|
56,341 |
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| Prepaid expenses and other current assets |
19,393 |
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22,208 |
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| Total current assets |
674,671 |
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684,451 |
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| Property and equipment, net |
215,324 |
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226,711 |
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| Operating lease right-of-use assets |
56,685 |
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60,450 |
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| Goodwill |
6,918 |
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|
4,511 |
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| Intangible assets, net |
61,160 |
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|
62,329 |
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| Other noncurrent assets |
15,308 |
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|
2,913 |
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| Total assets |
$ |
1,030,066 |
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$ |
1,041,365 |
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| Liabilities and stockholders’ equity |
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| Current liabilities: |
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| Accounts payable |
$ |
20,694 |
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$ |
12,733 |
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| Accrued compensation and related benefits |
24,744 |
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|
42,500 |
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| Accrued expenses and other current liabilities |
30,377 |
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|
39,971 |
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| Deferred revenue |
23,610 |
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23,902 |
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| Operating lease liabilities |
12,015 |
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|
10,985 |
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| Contingent consideration, current |
7,069 |
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|
23,363 |
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| Total current liabilities |
118,509 |
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|
153,454 |
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| Contingent consideration, noncurrent |
2,991 |
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|
1,237 |
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| Operating lease liabilities, noncurrent |
66,781 |
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73,376 |
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| Deferred revenue, noncurrent |
9,683 |
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10,501 |
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| Other noncurrent liabilities |
6,556 |
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|
6,471 |
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| Total liabilities |
204,520 |
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|
245,039 |
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| Stockholders’ equity: |
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| Preferred stock |
— |
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— |
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| Common stock |
2 |
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|
2 |
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| Additional paid-in capital |
2,367,459 |
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|
2,306,690 |
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| Accumulated deficit |
(1,541,992) |
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(1,510,591) |
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| Accumulated other comprehensive income |
77 |
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|
225 |
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| Total stockholders’ equity |
825,546 |
|
|
796,326 |
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| Total liabilities and stockholders’ equity |
$ |
1,030,066 |
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$ |
1,041,365 |
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