10x Genomics Announces Preliminary Q4 and Full 2024 Earnings Investing.com

Income from FY 2024 ~$611 million and revenue from Q4 2024 ~$165 millionwhich represents a sequential growth of 9%.

PLEASANTON, CA, January 12, 2025 /PRNewswire/ — 10x Genomics (NASDAQ:), Inc. (Nasdaq: TXG), a leader in single-cell and spatial biology, today announced preliminary, unaudited selected results for the fourth quarter and full year ended December 31, 2024.

Preliminary, unaudited selected financial results for the fourth quarter of 2024

• Income of approx $165.0 million for three completed months December 31, 2024which represents a sequential growth of 9% and a decline of 10% compared to the corresponding period of the previous year.
• Instruments income of approx 24.4 million dollarswhich represents a sequential growth of 28% and a decline of 37% compared to the corresponding period of the previous year. Income from instruments consists of approx 10.9 million dollars income Chromium instruments and 13.4 million dollars of income from spatial instruments.
• Income from consumables of approx 133.5 million dollarswhich represents a sequential growth of 6% and a decline of 5% compared to the corresponding period of the previous year. Income from consumables consists of approx 97.7 million dollars income from Chromium consumables and 35.8 million dollars income from spatial consumables.
• Service income of approx 7.1 million dollarswhich represents a sequential growth of 12% and a growth of 35% compared to the corresponding period of the previous year.

Preliminary, unaudited selected financial results for the full year 2024

• Income of approx 610.8 million dollars for the year that ended December 31, 2024which represents a decrease of 1% compared to the previous year.
• Instruments income of approx 92.7 million dollarswhich represents a decrease of 25% compared to the previous year. Income from instruments consists of approx 35.2 million dollars income Chromium instruments and 57.5 million dollars of income from spatial instruments.
• Income from consumables of approx 493.4 million dollarswhich represents a growth of 3% compared to the previous year. Income from consumables consists of approx 372.3 million dollars income from Chromium consumables and 121.1 million dollars income from spatial consumables.
• Service income of approx 24.6 million dollarswhich represents a growth of 57% compared to the previous year.
• Increased cumulative number of instruments sold to more than 7000 instruments by the end of 2024, which includes over 5800 Chromium instruments, over 800 Visium instruments and over 400 Xenium instruments.
• Cash, cash equivalents and marketable securities of approx 393 million dollars of December 31, 2024.

“Our team delivered solid sequential revenue growth last quarter,” said Serge Saxonov, Co-Founder and Chief Executive Officer 10x Genomics. “We are confident that the work we have done during 2024 will prepare us well for the future and better position us to fulfill the full promise of single-cell and spatial biology.”

JP Morgan Healthcare Conference
10x Genomics, Inc. provides these updates in advance of its participation in the 43rd annual JP Morgan Healthcare Conferencewhich starts tomorrow. Live streaming of the company’s presentation and question-and-answer session, starting at 7:30 am pacific time on Monday, January 13, 2025will be available under the “Investors” section of the Company’s website at: http://investors.10xgenomics.com. The broadcast will be archived and available for playback at least 30 days after the event.

The results of the preliminary selection are subject to adjustment
10x Genomics, Inc. has not completed the preparation of its consolidated financial statements for the fourth quarter or fiscal year 2024. Selected results presented in this release for the fourth quarter and year ended December 31, 2024 are preliminary and unaudited and therefore inherently uncertain and subject to change as we complete the preparation of our consolidated financial statements for the year then ended December 31, 2024. 10x Genomics, Inc. is in the process of completing the usual year-end closing and review procedures as of and for the fourth quarter and year just ended December 31, 2024and there can be no assurance that final results for those periods will not differ from these estimates. During preparation for 10x Genomics, Inc consolidated financial statements and related notes as of and for the year then ended December 31, 2024we or our independent certified public accountants may identify items that could cause the final reported results to differ materially from the preliminary unaudited financial estimates presented herein.

About 10x Genomics
10x Genomics is a life science technology company that builds products to accelerate the mastery of biology and advance human health. Our integrated solutions include instruments, consumables and software for single-cell and spatial biology, helping academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that match the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that change the world’s understanding of health and disease. To learn more, please visit 10xgenomics.com or connect with us at LinkedIn or X (Twitter).

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 Exchange Act of the Securities Act of 1934, as amended, subject to the “safe harbor” created by those sections. All statements included in this press release, other than statements of historical fact, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “could,” “will,” “should,” “expect,” “plan,” “anticipate,” “could” “intend”, “aim”, “project”, “think”, “believe”, “see”, “estimate”, “anticipate”, “potential”, “would”, “likely”, “seek ” or “continue” or negative words of these expressions or their variations or similar terminology, but the absence of these words does not mean that the statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc expected financial results for the fourth quarter and the year ended December 31, 2024 and our future opportunities and performance. These statements are based on management’s current expectations, predictions, beliefs, assumptions and information available as of the date hereof. Actual outcomes and results may differ materially from these statements due to a number of factors and such statements should not be relied upon as representations 10x Genomics, Inc views from any date after the date of this press release. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which such statement is based, except as required by law. Although 10x Genomics believes that the expectations expressed in the forward-looking statements are reasonable, cannot provide any assurances that those expectations will prove to be correct, nor can it guarantee that the future results reflected in the forward-looking statements will be achieved or will occur. Material risks and uncertainties that could affect 10x Genomics, Inc financial and operating results and cause actual results to differ materially from those indicated in the forward-looking statements in this press release include those discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of business” in the company’s recent 10-K filing and elsewhere in the documents 10x Genomics, Inc. files with Securities Commission from time to time.

Disclosure Information
10x Genomics uses rashes with Securities Commissionits website (www.10xgenomics.com), press releases, public conference calls, public webcasts and its social media accounts as a means of disclosing material non-public information and complying with its disclosure obligations under Regulation FD.

Contacts
Investors: investors@10xgenomics.com
Media: media@10xgenomics.com