Company: TXG
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001770787-25-000013
Chunk: 135

Company: 10x Genomics, Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 135
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 million, including a $6.5 million reduction in stock-based compensation expense, a decrease in depreciation and amortization of $1.4 million, partially offset by an increase in other expenses of $0.8 million. 

In-process research and development expense recorded during the year ended December 31, 2023 related to the January 2023 agreement to acquire certain intangible and other assets from Centrillion Technologies, Inc. and Centrillion Technology Holdings Corp. which was accounted for as an asset acquisition. In connection with the acquisition, we recognized an in-process research and development intangible asset of $61.0 million which did not have alternative future use and therefore was recognized as an expense during the period. See Note 4 to the consolidated financial statements for further details. There were no similar purchases in year ended December 31, 2024.

Selling, general and administrative expenses increased $1.0 million, or 0.3%, for the year ended December 31, 2024 as compared to the year ended December 31, 2023. The increase was primarily driven by an increase in outside legal expenses of $21.2 million, an increase in allocated costs for facilities and information technology to support operational expansion of $1.7 million, partially offset by a decrease in personnel expenses of $18.6 million, including a $21 million reduction in stock-based compensation expense, and a decrease in other expenses of $4.4 million.

Excluding acquisitions, we do not expect our operating expenditures to meaningfully increase in 2025. 

Other Income (Expense), Net

Year Ended December 31,Change(dollars in thousands)20242023$%Interest income$18,448 $16,906 $1,542 9 %Interest expense(4)(33)29 (88)%Other expense, net(1,585)(307)(1,278)416 %Total other income$16,859 $16,566 $293 2 %

69

Interest income increased by $1.5 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023. The increase was primarily due to interest income generated from our investments in marketable securities and an increase in interest rates during the year ended December 31, 2024.

Other expense, net increased by $1.3 million for the year ended December 31, 2024 as compared to the