Company: TXG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001770787-25-000032
Chunk: 152

Company: 10x Genomics, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 152
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4,393)(6)%Selling, general and administrative89,728 85,774 3,954 5 Gain on settlement(9,200)— (9,200)N/ATotal operating expenses$144,773 $154,412 $(9,639)(6)%

Research and development expenses decreased $4.4 million, or 6%, to $64.2 million for the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. The decrease was primarily driven by a $3.9 million decrease in personnel expenses, including a $2.8 million decrease in stock-based compensation expense, a $1.9 million decrease in allocated costs for facilities and information technology, partially offset by an $0.8 million increase in laboratory materials and supplies.

Selling, general and administrative expenses increased $4.0 million, or 5%, to $89.7 million for the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. The increase was primarily driven by a $3.6 million increase in outside legal expenses and a $2.0 million increase in personnel expenses, partially offset by a $1.2 million decrease in marketing expenses.

Gain on settlement is a result of the Company settling its worldwide patent litigation with Vizgen and the subsequent allocation of the up-front payment.

20

We expect our operating expenses to trend lower in 2025 as a result of our actions to reduce operating costs including our May 2025 reduction in force that is expected to result in the termination of approximately 8% of our global workforce and additional planned reductions in non-headcount operating expenses.

Other Income (Expense), Net

Three Months EndedMarch 31,Change(dollars in thousands)20252024$%Interest income$3,686 $4,736 $(1,050)(22)%Interest expense— (1)1 (100)Other income (expense), net2,136 (1,040)3,176 (305)Total other income$5,822 $3,695 $2,127 58 %

Interest income decreased by $1.1 million, or 22%, to $3.7 million for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The decrease was primarily due