10x Genomics Reports Preliminary Q4 & FY25 Results: Instrument Sales Decline Significantly
TXG has more than doubled off its 52-week low of $6.78.
Summary
10x Genomics reported preliminary Q4 and full-year 2025 results, highlighting a significant year-over-year decline in instrument revenue and a slight decrease in overall full-year revenue, excluding one-time items.
Key Events · Earnings and Guidance · TXG
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Preliminary Q4 and Full Year 2025 Results
10x Genomics announced preliminary, unaudited select financial results for the fourth quarter and fiscal year ended December 31, 2025.
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Significant Decline in Instrument Revenue
Instrument revenue decreased by 36% year-over-year in Q4 2025 to $15.5 million, and by 39% for the full year 2025 to $56.8 million, indicating a slowdown in new instrument placements.
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Modest Consumables Growth
Consumables revenue grew 6% year-over-year in Q4 2025 to $141.7 million, and 3% for the full year 2025 to $507.2 million, partially offsetting instrument declines.
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Overall Revenue Decrease for Full Year
Full year 2025 revenue was approximately $642.8 million. Excluding $44.1 million from patent litigation settlements, full year revenue was approximately $598.7 million, representing a 2% decrease from the prior year.
Analysis · TXG · Industrial Applications And Services
10x Genomics announced preliminary financial results for Q4 and full year 2025, revealing a challenging period marked by a substantial decline in instrument revenue. While consumables revenue showed modest growth, the significant year-over-year decrease in instrument sales (36% in Q4, 39% for the full year) is a key concern, as instrument placements drive future consumables demand. The overall full-year revenue, excluding patent litigation settlements, decreased by 2%. Investors should monitor future reports for signs of stabilization or recovery in instrument sales, which are critical for the company's long-term growth trajectory. The company's strong cash position provides some financial stability amidst these headwinds.
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At the time of this filing, TXG was trading at $19.70 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $6.78 to $21.18. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.