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

Company: 10x Genomics, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 litigation with Vizgen and the subsequent allocation of the up-front payment.

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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 to less interest income generated from our investments in marketable securities during the three months ended March 31, 2025.

Other income (expense), net increased by $3.2 million to $2.1 million other income, net for the three months ended March 31, 2025 as compared to $1.0 million other expense, net, for the three months ended March 31, 2024. These increase in other income (expense), net was driven by losses from foreign currency rate measurement fluctuations.

Provision for Income Taxes

The Company’s provision for income taxes was $0.9 million and $2.1 million, respectively, for the three months ended March 31, 2025 and 2024. The decrease was primarily due to lower foreign income.

Liquidity and Capital Resources

As of March 31, 2025, we had approximately $426.9 million in cash and cash equivalents and marketable securities which were primarily held in U.S. banks. We have generated negative cumulative cash flows from operations since inception through March 31, 2025, and we have generated losses from operations since inception as reflected in our accumulated deficit of $1.5 billion.

We currently anticipate making aggregate capital expenditures of between approximately $10 million and $15 million during the next 12 months, which we expect to include, among other expenditures,