10x Genomics, Inc.
TXG Nasdaq Laboratory Analytical Instruments Financials FY2017–FY2025
Revenue
Total sales reported in the income statement.
$643M
5.2%
vs prior year
Operating margin
Operating income as a share of revenue.
−9.5%
22.4 pts
Net income
Profit after all expenses, interest and tax.
−$43.5M
Free cash flow
Cash from operations minus capital spending.
$130M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.59 EPS (TTM)
What 10x Genomics, Inc. does
No business description yet.
- Legal name
- 10x Genomics, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 13, 2026
- Accession · CIK
- 0001628280-26-007822
0001770787
Revenue and margins
10x Genomics, Inc. had $643M of revenue in fiscal 2025, up 5.2% on the year before.
FY17
Revenue $71.1M
FY18
Revenue $146M
FY19
Revenue $246M
FY20
Revenue $299M
FY21
Revenue $490M
FY22
Revenue $516M
FY23
Revenue $619M
FY24
Revenue $611M
FY25
Revenue $643M
Q3 '23
Revenue $154M
Q4 '23
Revenue $184M
Q1 '24
Revenue $141M
Q2 '24
Revenue $153M
Q3 '24
Revenue $152M
Q4 '24
Revenue $165M
Q1 '25
Revenue $155M
Q2 '25
Revenue $173M
Q3 '25
Revenue $149M
Q4 '25
Revenue $166M
Q1 '26
Revenue $151M
Q2 '26
Revenue $151M
FY17
Gross 85.1%
Operating −25.8%
Net −26.4%
FCF −20.3%
FY18
Gross 80.4%
Operating −75.7%
Net −76.9%
FCF −56.5%
FY19
Gross 75.2%
Operating −12.4%
Net −12.7%
FCF −3.3%
FY20
Gross 80.4%
Operating −178.7%
Net −181.6%
FCF −85.2%
FY21
Gross 84.9%
Operating −10.7%
Net −11.9%
FCF −25.0%
FY22
Gross 76.7%
Operating −32.5%
Net −32.1%
FCF −32.0%
FY23
Gross 66.2%
Operating −42.9%
Net −41.2%
FCF −10.3%
FY24
Gross 67.9%
Operating −31.9%
Net −29.9%
FCF −0.9%
FY25
Gross 69.1%
Operating −9.5%
Net −6.8%
FCF 20.2%
Gross
Operating
Net
FCF
Q3 '23
Gross 62.2%
Operating −61.7%
Net −60.5%
FCF −26.4%
Q4 '23
Gross 62.9%
Operating −30.0%
Net −26.6%
FCF 12.1%
Q1 '24
Gross 65.9%
Operating −43.6%
Net −42.5%
FCF −13.2%
Q2 '24
Gross 68.1%
Operating −27.3%
Net −24.8%
FCF 3.0%
Q3 '24
Gross 70.2%
Operating −27.4%
Net −23.6%
FCF 11.7%
Q4 '24
Gross 67.2%
Operating −30.2%
Net −29.7%
FCF −5.7%
Q1 '25
Gross 68.1%
Operating −25.4%
Net −22.2%
FCF 21.0%
Q2 '25
Gross 72.3%
Operating 17.4%
Net 20.0%
FCF 9.3%
Q3 '25
Gross 67.3%
Operating −21.6%
Net −18.4%
FCF 28.5%
Q4 '25
Gross 68.1%
Operating −11.8%
Net −9.8%
FCF 23.5%
Q1 '26
Gross 70.4%
Operating −11.3%
Net −8.9%
FCF 16.3%
Q2 '26
Gross 74.5%
Operating −12.9%
Net −11.9%
FCF 10.2%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY17
Net income −$18.8M
FY18
Net income −$112M
FY19
Net income −$31.3M
FY20
Net income −$543M
FY21
Net income −$58.2M
FY22
Net income −$166M
FY23
Net income −$255M
FY24
Net income −$183M
FY25
Net income −$43.5M
Q3 '23
Net income −$93.0M
Q4 '23
Net income −$49.0M
Q1 '24
Net income −$59.9M
Q2 '24
Net income −$37.9M
Q3 '24
Net income −$35.8M
Q4 '24
Net income −$49.0M
Q1 '25
Net income −$34.4M
Q2 '25
Net income $34.5M
Q3 '25
Net income −$27.5M
Q4 '25
Net income −$16.3M
Q1 '26
Net income −$13.5M
Q2 '26
Net income −$17.9M
FY17
Diluted EPS −$1.62
FY18
Diluted EPS −$8.40
FY19
Diluted EPS −$0.80
FY20
Diluted EPS −$5.37
FY21
Diluted EPS −$0.53
FY22
Diluted EPS −$1.46
FY23
Diluted EPS −$2.18
FY24
Diluted EPS −$1.52
FY25
Diluted EPS −$0.35
Q3 '23
Diluted EPS −$0.79
Q4 '23
Diluted EPS −$0.42
Q1 '24
Diluted EPS −$0.50
Q2 '24
Diluted EPS −$0.32
Q3 '24
Diluted EPS −$0.30
Q4 '24
Diluted EPS −$0.40
Q1 '25
Diluted EPS −$0.28
Q2 '25
Diluted EPS $0.28
Q3 '25
Diluted EPS −$0.22
Q4 '25
Diluted EPS −$0.13
Q1 '26
Diluted EPS −$0.10
Q2 '26
Diluted EPS −$0.14
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY17
Return on capital —
Return on equity —
Return on assets —
FY18
Return on capital —
Return on equity —
Return on assets −90.5%
FY19
Return on capital −94.2%
Return on equity −31.2%
Return on assets −8.6%
FY20
Return on capital −559.1%
Return on equity −93.6%
Return on assets −70.7%
FY21
Return on capital —
Return on equity −7.5%
Return on assets −6.0%
FY22
Return on capital —
Return on equity −20.5%
Return on assets −16.2%
FY23
Return on capital —
Return on equity −33.0%
Return on assets −25.6%
FY24
Return on capital —
Return on equity −25.2%
Return on assets −19.4%
FY25
Return on capital —
Return on equity −5.8%
Return on assets −4.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $130M in fiscal 2025, 20.2% of revenue. Cash from operations minus capital spending.
FY17
Free cash flow −$14.5M
FY18
Free cash flow −$82.7M
FY19
Free cash flow −$8.1M
FY20
Free cash flow −$255M
FY21
Free cash flow −$123M
FY22
Free cash flow −$165M
FY23
Free cash flow −$63.8M
FY24
Free cash flow −$5.7M
FY25
Free cash flow $130M
Q3 '23
Free cash flow −$40.5M
Q4 '23
Free cash flow $22.3M
Q1 '24
Free cash flow −$18.6M
Q2 '24
Free cash flow $4.6M
Q3 '24
Free cash flow $17.8M
Q4 '24
Free cash flow −$9.5M
Q1 '25
Free cash flow $32.5M
Q2 '25
Free cash flow $16.1M
Q3 '25
Free cash flow $42.5M
Q4 '25
Free cash flow $39.0M
Q1 '26
Free cash flow $24.5M
Q2 '26
Free cash flow $15.4M
FY17
Cash from operations −$10.7M
Capital spending $3.8M
FY18
Cash from operations −$76.4M
Capital spending $6.3M
FY19
Cash from operations $34.6M
Capital spending $42.7M
FY20
Cash from operations −$218M
Capital spending $36.7M
FY21
Cash from operations −$21.4M
Capital spending $101M
FY22
Cash from operations −$33.6M
Capital spending $132M
FY23
Cash from operations −$15.2M
Capital spending $48.6M
FY24
Cash from operations $6.7M
Capital spending $12.4M
FY25
Cash from operations $136M
Capital spending $5.9M
Cash from operations
Capital spending
Q3 '23
Cash from operations −$25.3M
Capital spending $15.2M
Q4 '23
Cash from operations $25.8M
Capital spending $3.5M
Q1 '24
Cash from operations −$15.7M
Capital spending $2.9M
Q2 '24
Cash from operations $7.5M
Capital spending $2.9M
Q3 '24
Cash from operations $21.6M
Capital spending $3.9M
Q4 '24
Cash from operations −$6.7M
Capital spending $2.7M
Q1 '25
Cash from operations $34.4M
Capital spending $1.9M
Q2 '25
Cash from operations $17.7M
Capital spending $1.6M
Q3 '25
Cash from operations $43.2M
Capital spending $0.7M
Q4 '25
Cash from operations $40.8M
Capital spending $1.8M
Q1 '26
Cash from operations $26.1M
Capital spending $1.6M
Q2 '26
Cash from operations $17.0M
Capital spending $1.6M
Cash from operations
Capital spending
Dividends, buybacks and share count
10x Genomics, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 3.6%.
FY17
Dividends —
Buybacks $0.1M
FY18
Dividends —
Buybacks —
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY17
Diluted shares 0.01B
FY18
Diluted shares 0.01B
FY19
Diluted shares 0.04B
FY20
Diluted shares 0.10B
FY21
Diluted shares 0.11B
FY22
Diluted shares 0.11B
FY23
Diluted shares 0.12B
FY24
Diluted shares 0.12B
FY25
Diluted shares 0.12B
Balance sheet
Cash, debt and the ratios that show how comfortably 10x Genomics, Inc. can carry it.
FY17
Cash $47.9M
Debt —
FY18
Cash $65.1M
Debt $29.7M
FY19
Cash $424M
Debt $29.7M
FY20
Cash $664M
Debt $0.0M
FY21
Cash $587M
Debt —
FY22
Cash $430M
Debt —
FY23
Cash $389M
Debt —
FY24
Cash $393M
Debt —
FY25
Cash $523M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $587M | $430M | $389M | $393M | $523M |
| Interest coverage | −60.3x | −352.8x | −8,040.3x | −48,639.8x | — |
| Current ratio | 6.8x | 4.8x | 4.7x | 5.0x | 4.5x |
| Quick ratio | 6.2x | 4.2x | 4.1x | 4.3x | 4.1x |
| Total assets | $1.0B | $1.0B | $965M | $919M | $1.0B |
| Total liabilities | $201M | $223M | $224M | $209M | $245M |
| Shareholders' equity | $818M | $806M | $741M | $710M | $796M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ |
| Return on assets rose | — | — | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ | ✓ | — | — | — | — | — |
| Current ratio rose | — | — | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ |
| Revenue rose relative to assets | — | — | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ |
| F-score | — / 3 | — / 5 | 5 / 9 | 3 / 9 | 5 / 8 | 2 / 8 | 2 / 8 | 6 / 8 | 4 / 8 |
| Accruals ratio | — | −29.0% | −18.0% | −42.3% | −3.8% | −12.9% | −24.1% | −20.1% | −18.3% |
| Altman Z'' | — | −10.44 | 5.15 | 2.02 | 5.26 | 2.65 | 0.47 | 0.28 | 1.63 |
9 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $71.1M | $146M | $246M | $299M | $490M | $516M | $619M | $611M | $643M |
| Gross profit | $60.5M | $118M | $185M | $240M | $416M | $396M | $409M | $414M | $444M |
| Research and development | $32.2M | $47.5M | $83.1M | $123M | $212M | $266M | $270M | $265M | $239M |
| Operating income | −$18.4M | −$111M | −$30.6M | −$534M | −$52.3M | −$168M | −$265M | −$195M | −$61.0M |
| Interest expense | $0.8M | $2.4M | $3.1M | $1.7M | $0.9M | $0.5M | $0.0M | $0.0M | $0.0M |
| Pretax income | −$18.7M | −$112M | −$31.0M | −$534M | −$53.7M | −$162M | −$249M | −$178M | −$39.9M |
| Income tax | $0.0M | $0.1M | $0.2M | $8.3M | $4.5M | $4.0M | $6.3M | $4.9M | $3.6M |
| Net income | −$18.8M | −$112M | −$31.3M | −$543M | −$58.2M | −$166M | −$255M | −$183M | −$43.5M |
| Diluted EPS | −$1.62 | −$8.40 | −$0.80 | −$5.37 | −$0.53 | −$1.46 | −$2.18 | −$1.52 | −$0.35 |
| Diluted shares | 0.01B | 0.01B | 0.04B | 0.10B | 0.11B | 0.11B | 0.12B | 0.12B | 0.12B |
| Cash flow | |||||||||
| Cash from operations | −$10.7M | −$76.4M | $34.6M | −$218M | −$21.4M | −$33.6M | −$15.2M | $6.7M | $136M |
| Capital expenditure | $3.8M | $6.3M | $42.7M | $36.7M | $101M | $132M | $48.6M | $12.4M | $5.9M |
| Free cash flow | −$14.5M | −$82.7M | −$8.1M | −$255M | −$123M | −$165M | −$63.8M | −$5.7M | $130M |
| Depreciation and amortization | $4.3M | $3.9M | $7.1M | $14.0M | $21.1M | $25.4M | $35.5M | $35.9M | $36.2M |
| Stock-based compensation | $1.7M | $2.7M | $13.3M | $48.6M | $96.0M | $137M | $167M | $141M | $109M |
| Acquisitions | — | — | $0.0M | $0.0M | $5.5M | $4.0M | $0.0M | $0.0M | — |
| Share buybacks | $0.1M | — | — | — | — | — | — | — | — |
| Dividends and buybacks | $0.1M | — | — | — | — | — | — | — | — |
| Balance sheet | |||||||||
| Cash and short-term investments | $47.9M | $65.1M | $424M | $664M | $587M | $430M | $389M | $393M | $523M |
| Total debt | — | $29.7M | $29.7M | $0.0M | — | — | — | — | — |
| Current assets | — | $106M | $481M | $774M | $748M | $635M | $596M | $584M | $684M |
| Current liabilities | — | $32.4M | $63.0M | $118M | $110M | $131M | $127M | $118M | $153M |
| Inventory | — | $8.6M | $15.3M | $30.0M | $60.0M | $81.6M | $73.7M | $83.1M | $56.3M |
| Property and equipment, net | — | $11.1M | $48.8M | $72.8M | $169M | $289M | $280M | $253M | $227M |
| Goodwill | — | — | — | $0.0M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M |
| Intangible assets | — | $0.6M | $22.4M | $22.4M | $25.4M | $22.9M | $16.6M | $15.7M | $62.3M |
| Total assets | — | $124M | $606M | $929M | $1.0B | $1.0B | $965M | $919M | $1.0B |
| Total liabilities | — | $101M | $186M | $190M | $201M | $223M | $224M | $209M | $245M |
| Preferred stock | — | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | −$113M | −$220M | $420M | $739M | $818M | $806M | $741M | $710M | $796M |
| Margins | |||||||||
| 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% |
| EBITDA margin | −19.8% | −73.0% | −9.6% | −174.0% | −6.3% | −27.6% | −37.1% | −26.0% | −3.9% |
| Net margin | −26.4% | −76.9% | −12.7% | −181.6% | −11.9% | −32.1% | −41.2% | −29.9% | −6.8% |
| FCF margin | −20.3% | −56.5% | −3.3% | −85.2% | −25.0% | −32.0% | −10.3% | −0.9% | 20.2% |
| Returns | |||||||||
| Return on capital | — | — | −94.2% | −559.1% | — | — | — | — | — |
| Return on capital employed | — | −120.5% | −5.6% | −65.8% | −5.8% | −18.7% | −31.7% | −24.3% | −6.9% |
| Return on equity | — | — | −31.2% | −93.6% | −7.5% | −20.5% | −33.0% | −25.2% | −5.8% |
| Return on assets | — | −90.5% | −8.6% | −70.7% | −6.0% | −16.2% | −25.6% | −19.4% | −4.4% |
| Return on tangible equity | — | — | −7.9% | −75.7% | −7.4% | −21.3% | −35.4% | −26.5% | −6.0% |
| Growth | |||||||||
| Revenue growth | — | 105.8% | 68.1% | 21.5% | 64.1% | 5.3% | 19.8% | −1.3% | 5.2% |
| Share count change | — | 15.6% | 191.9% | 158.8% | 9.1% | 3.2% | 2.9% | 2.8% | 3.6% |
| Financial health | |||||||||
| Debt / equity | — | — | 0.1x | 0.0x | — | — | — | — | — |
| Interest coverage | −22.7x | −46.0x | −9.9x | −317.6x | −60.3x | −352.8x | −8,040.3x | −48,639.8x | — |
| Current ratio | — | 3.3x | 7.6x | 6.6x | 6.8x | 4.8x | 4.7x | 5.0x | 4.5x |
| Quick ratio | — | 3.0x | 7.4x | 6.3x | 6.2x | 4.2x | 4.1x | 4.3x | 4.1x |
| Capital allocation | |||||||||
| Capex / revenue | 5.3% | 4.3% | 17.4% | 12.3% | 20.6% | 25.5% | 7.9% | 2.0% | 0.9% |
| Stock comp / revenue | 2.3% | 1.8% | 5.4% | 16.3% | 19.6% | 26.5% | 27.0% | 23.0% | 17.0% |
| Quality scores | |||||||||
| Piotroski F-score | — | — | 5.0 | 3.0 | 5.0 | 2.0 | 2.0 | 6.0 | 4.0 |
| Altman Z'' | — | −10.4 | 5.1 | 2.0 | 5.3 | 2.6 | 0.5 | 0.3 | 1.6 |
| Accruals ratio | — | −29.0% | −18.0% | −42.3% | −3.8% | −12.9% | −24.1% | −20.1% | −18.3% |
Source: SEC EDGAR XBRL filings (CIK 0001770787). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.