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10x Genomics Inc. (TXG+4.99%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported revenue of $610.8 million for the year, a slight decrease from $618.7 million in 2023. This decrease was primarily attributed to lower instrument sales, which fell by 25% to $92.7 million.
Consumables revenue increased by 3% to $493.4 million, driven by growth in Spatial consumables sales, despite a decline in Chromium consumables sales due to price decreases and changes in product mix.
Service revenue rose by 57% to $24.6 million, reflecting increased service plans for both Chromium and Spatial instruments.
The company reported a net loss of $182.6 million, an improvement from the $255.1 million net loss in 2023. The loss was impacted by operating expenses totaling $609.0 million.
Research and development expenses slightly decreased to $264.7 million, while selling, general and administrative expenses remained relatively stable at $344.3 million.
The company ended the year with $393.4 million in cash, cash equivalents, and marketable securities, and an accumulated deficit of $1.5 billion.
10x Genomics highlighted its continued investment in research and development to enhance existing products and develop new solutions, as well as its focus on expanding its commercial operations globally.
The company anticipates making capital expenditures between $12 million and $17 million in the next 12 months, primarily for equipment used in manufacturing and research and development.
10x Genomics also noted its dependence on single source suppliers for some components and the potential impact of geopolitical and economic factors on its operations, particularly in China and the Asia-Pacific region.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the 10x Genomics Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.