Company: TXG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001770787-25-000051
Chunk: 25

Company: 10x Genomics, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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. Consumables revenue increased $3.8 million, or 2%, to $237.5 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. Services revenue increased $5.1 million, or 47%, for the six months ended June 30, 2025 as compared to six months ended June 30, 2024, primarily driven by an increase in service plans for instruments coming off warranty.

In February 2025, the Company settled its worldwide patent litigation with Vizgen, Inc. As part of that settlement, Vizgen has limited rights to certain intellectual property owned or exclusively licensed by the Company. As one part of the settlement, the Company received an upfront payment of $26.0 million and will receive royalties on Vizgen’s sales of products covered by the license. The $26.0 million upfront payment was recorded as a $9.2 million gain on settlement and $16.8 million of license and royalty revenue. The amount attributed to the gain on settlement was determined by applying a 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, excluding the impact of license and royalty revenue, to slightly decline sequentially in the third quarter of 2025.

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

Three Months EndedJune 30,ChangeSix Months EndedJune 30,Change(dollars in thousands)20252024$%20252024$%Cost of products and services revenue$47,824 $48,884 $(1,060)(2)%$97,262 $96,976 $286 — %Gross profit$125