Company: TXG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001770787-25-000032
Chunk: 166

Company: 10x Genomics, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 4
Chunk 166
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ations of funding could also result in a decrease in the aggregate amount of grants awarded or funding disbursed for life sciences research or the redirection of existing funding to other projects or priorities, any of which in turn could cause our customers and potential customers to reduce, delay or cancel purchases of our products. For example, in March 2025 the NIH terminated approximately seven hundred research grants totaling more than $2.4 billion that funded scientific research, including studies related to breast cancer, Alzheimer’s disease and HIV prevention, among other topics. Our operating results may fluctuate substantially due to any such delays, reductions, modification of terms or cancellations. 

In addition to the risks to customer spending posed by recent changes and uncertainty related to U.S academic and government funding including direct government funding of research projects, actions by the federal government of the United States generally targeting federal funding to research institutions who are or could be purchasers of our products pose risks to our operating results. For example, in 2025 the United States government threatened to freeze or cancel billions of dollars of federal funding to multiple institutions, including certain of our customers, if such institutions did not take certain actions to limit activism on campus. These or similar actions, such as revoking the tax exempt status of research universities, could have the effect of delaying, reducing or eliminating institutional funding available for research projects, which could in turn delay, limit or cancel purchases of our products by researchers at targeted institutions and negatively impact our revenue. Some institutions have responded to these risks of losing federal funding by implementing measures that could also have adverse impacts on our revenue, including hiring freezes, rescissions of offers of acceptance to academic programs, caps or additional scrutiny, processes or layers of approval required to authorize expenditures or limitations or reductions on capital expenditures which may, for example, delay or prevent purchases of our instruments. Additionally, in 2025 the United States Department of State revoked the visas or legal statuses of, to date, more than 1,800 international students at more than 280 colleges and universities in the United States on the 

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grounds that the “presence or activities in the United States [of such students]...would have potentially serious adverse foreign policy consequences for the United States.” These or potential additional future visa or legal status revocations or similar actions could negatively impact our revenue as some affected individuals may be current or potential users or purchasers of our products.

There is currently significant uncertainty regarding further delays, reductions, modification of the terms or cancellations of U.S. academic and government funding or other changes to the