Company: TXG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050332
Chunk: 27

Company: 10x Genomics, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 royalty rate to the Vizgen historical revenues prior to the settlement.

In May 2025, the Company entered into a settlement agreement and license agreements with Bruker Corporation resolving all outstanding litigation and other proceedings between the parties across all jurisdictions around the world. Under the agreements, the Company will receive four quarterly installment payments beginning in the third quarter of 2025, which total $68.0 million and applicable interest. The Company will also receive royalties on Bruker’s sales of products and services covered by the licenses. The $68.0 million was recorded as a $40.7 million gain on settlement and $27.3 million of license and royalty 

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revenue. The amount attributed to the gain on settlement was determined by applying a royalty rate to the historical revenues prior to the settlement.

We expect our revenues to moderately increase sequentially in the fourth quarter of 2025.

Cost of Products and Services Revenue, Gross Profit and Gross Margin

Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change(dollars in thousands)20252024$%20252024$%Cost of products and services revenue$48,695 $45,261 $3,434 8 %$145,957 $142,237 $3,720 3 %Gross profit$100,307 $106,393 $(6,086)(6)%$330,836 $303,527 $27,309 9 %Gross margin67 %70 %69 %68 %

Cost of products and services revenue increased $3.4 million, or 8%, to $48.7 million for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024. The increase was primarily driven by higher manufacturing costs of $5.8 million and higher inventory write-downs of $3.5 million due to changes in product mix, partially offset by lower royalties of $4.1 million and lower warranty costs of $1.8 million. Gross margin decreased to 67% primarily due to changes in product mix and higher inventory write-downs, partially offset by lower royalties and lower warranty costs.

Cost of products and services revenue increased $3.7 million, or 3%, to $146.0 million for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024. The increase