10X Genomics (TXG) financial statements
10X Genomics reported revenue of $643M in fiscal 2025, up 31.7% a year over 8 years.
Net income was -$44M and the operating margin -9.5%, against -25.8% in 2017.
Free cash flow was $130M.
The diluted share count rose 977% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from 10X Genomics's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $71M | $146M | $246M | $299M | $490M | $516M | $619M | $611M | $643M |
| Cost of revenue | $11M | $29M | $61M | $58M | $74M | $120M | $209M | $196M | $199M |
| Gross profit | $61M | $118M | $185M | $240M | $416M | $396M | $409M | $414M | $444M |
| Research and development | $32M | $48M | $83M | $123M | $212M | $266M | $270M | $265M | $239M |
| Selling, general and admin | $47M | $88M | $131M | $202M | $258M | $298M | $343M | $344M | $316M |
| Operating income | -$18M | -$111M | -$31M | -$534M | -$52M | -$168M | -$265M | -$195M | -$61M |
| Interest expense | $811,000 | $2M | $3M | $2M | $866,000 | $476,000 | $33,000 | $4,000 | $0 |
| Pre-tax income | -$19M | -$112M | -$31M | -$534M | -$54M | -$162M | -$249M | -$178M | -$40M |
| Income tax | $21,000 | $87,000 | $218,000 | $8M | $5M | $4M | $6M | $5M | $4M |
| Net income | -$19M | -$112M | -$31M | -$543M | -$58M | -$166M | -$255M | -$183M | -$44M |
| EPS (diluted) | -$1.62 | -$8.40 | -$0.80 | -$5.37 | -$0.53 | -$1.46 | -$2.18 | -$1.52 | -$0.35 |
| Diluted shares | 12M | 13M | 39M | 101M | 110M | 114M | 117M | 120M | 125M |
| Gross margin | 85.1% | 80.4% | 75.2% | 80.4% | 84.9% | 76.7% | 66.2% | 67.9% | 69.1% |
| Operating margin | -25.8% | -75.7% | -12.4% | -178.7% | -10.7% | -32.5% | -42.9% | -31.9% | -9.5% |
| Net margin | -26.4% | -76.9% | -12.7% | -181.6% | -11.9% | -32.1% | -41.2% | -29.9% | -6.8% |
Balance sheet
Fiscal years, from 10X Genomics's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $48M | $65M | $424M | $664M | $587M | $430M | $389M | $393M | $523M |
| Receivables | — | $28M | $33M | $51M | $85M | $104M | $115M | $88M | $47M |
| Inventory | — | $9M | $15M | $30M | $60M | $82M | $74M | $83M | $56M |
| Total current assets | — | $106M | $481M | $774M | $748M | $635M | $596M | $584M | $684M |
| Property, plant and equipment | — | $11M | $49M | $73M | $169M | $289M | $280M | $253M | $227M |
| Goodwill | — | — | — | $0 | $5M | $5M | $5M | $5M | $5M |
| Total assets | — | $124M | $606M | $929M | $1.0B | $1.0B | $965M | $919M | $1.0B |
| Total current liabilities | — | $32M | $63M | $118M | $110M | $131M | $127M | $118M | $153M |
| Long-term debt | — | $25M | $20M | $0 | — | — | — | — | — |
| Total liabilities | — | $101M | $186M | $190M | $201M | $223M | $224M | $209M | $245M |
| Shareholders' equity | -$113M | -$220M | $420M | $739M | $818M | $806M | $741M | $710M | $796M |
| Net debt | -$48M | -$35M | -$394M | -$664M | -$587M | -$220M | -$359M | -$344M | -$474M |
Cash flow
Fiscal years, from 10X Genomics's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$11M | -$76M | $35M | -$218M | -$21M | -$34M | -$15M | $7M | $136M |
| Capital spending | $4M | $6M | $43M | $37M | $101M | $132M | $49M | $12M | $6M |
| Free cash flow | -$14M | -$83M | -$8M | -$255M | -$123M | -$165M | -$64M | -$6M | $130M |
| Stock-based compensation | $2M | $3M | $13M | $49M | $96M | $137M | $167M | $141M | $109M |
| Share buybacks (net) | -$80,000 | — | — | — | — | — | — | — | — |
| Net borrowing | — | $19M | $0 | -$31M | $0 | $0 | — | — | — |
| Free cash flow margin | -20.3% | -56.5% | -3.3% | -85.2% | -25.0% | -32.0% | -10.3% | -0.9% | 20.2% |
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Open TXG in InvestinglyQuestions
What was 10X Genomics's revenue in 2025?
$643M in fiscal 2025, from its 10-K filing.
How much free cash flow does 10X Genomics generate?
$130M in fiscal 2025 (operating cash flow minus capital spending).
From 10X Genomics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.