Company: TXG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050332
Chunk: 54

Company: 10x Genomics, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 inception in 2012, we have incurred net losses in each year. Our net losses were $27.5 million and $27.3 million for the three and nine months ended September 30, 2025 and net losses were $35.8 million and $133.6 million for the three and nine months ended September 30, 2024, respectively. As of September 30, 2025, we had an accumulated deficit of $1.5 billion and cash and cash equivalents, and marketable securities totaling $482.1 million. We expect to continue to incur significant expenses for the foreseeable future and to incur operating losses in the near term. 

Acquisition

On August 7, 2025, we entered into an agreement to acquire all outstanding shares of common stock of Scale Biosciences, Inc., a single cell genomics technology company (“Scale”). Upon closing the transaction on August 11, 2025, we made an upfront payment consisting of $9.2 million in cash and $13.5 million (1,099,992 shares) in shares of our Class A common stock. In the first quarter of 2026, we expect to pay $20.0 million, subject to any adjustments, in connection with the technology transfer completed in the third quarter of 2025 and in the future may pay up to $30.0 million of contingent consideration if certain milestones are met.

The transaction was accounted for as an asset acquisition because substantially all of the fair value of the assets acquired is concentrated in the developed technology. We determined that the contingent consideration was within the scope of ASC 480, Distinguishing Liabilities from Equity, because the contingent consideration is payable in cash or shares of our Class A common stock, at our election. The contingent consideration was recorded at fair value as of the acquisition date. Upon closing, we recognized $22.4 million for the fair value of the contingent consideration. Refer to Note 3, Asset Acquisition, in the Notes to condensed consolidated financial statements included in this report, for a description of the fair value measurement of the contingent consideration. 

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Table of Contents

Comparison of the Three and Nine Months Ended September 30, 2025 and 2024

Revenue

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change(dollars in thousands)20252024$%20252024$%InstrumentsChromium$4,927 $7,641 $(2,