10x Genomics reported modest revenue growth but sharply improved profitability for 2025. Revenue was $166.0 million in Q4 2025, up 1% year over year, with full-year revenue of $642.8 million, a 5% increase from 2024. Excluding $44.1 million of non-recurring patent litigation settlement revenue, full-year revenue was $598.7 million, a 2% decline.
Q4 gross margin improved to 68% and full-year gross margin to 69%. Operating expenses fell 18% in Q4 and 17% for the year, helped by lower legal and personnel costs and a $49.9 million litigation settlement gain. Net loss narrowed to $16.3 million in Q4 2025 from $49.0 million a year earlier, and to $43.5 million for 2025 from $182.6 million in 2024.
The company ended 2025 with $523.4 million in cash, cash equivalents and marketable securities. For 2026, 10x Genomics guides to revenue of $600–$625 million, which represents 0% to 4% growth versus 2025 after excluding non-recurring patent-related revenue.
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