Company: TXG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001770787-25-000051
Chunk: 70

Company: 10x Genomics, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 70
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5.4 million decrease in personnel expenses, including an $8.0 million decrease in stock-based compensation expense, a $2.2 million decrease in allocated costs for facilities and information technology, partially offset by a $1.8 million increase in laboratory materials and supplies.

Selling, general and administrative expenses decreased $8.6 million, or 10%, to $74.4 million for the three months ended June 30, 2025, as compared to the three months ended June 30, 2024. The decrease was primarily driven by a reduction of $8.2 

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million in outside legal expenses, and a $0.9 million decrease in personnel expenses, including a $5.7 million decrease in stock-based compensation expense, partially offset with $1.1 million increase in marketing expenses, and a $0.6 million increase in allocated costs for facilities and information technology. The 2025 quarterly expenses include restructuring cost of $1.9 million.

Selling, general and administrative expenses decreased $4.7 million, or 3%, to $164.2 million for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024. The decrease was primarily driven by a reduction of $4.6 million in outside legal expenses, partially offset with a $1.2 million increase in personnel expenses, including a $8.5 million decrease in stock-based compensation expense. During the six months ended June 30, 2024, the Company recorded impairment charges of $2.1 million related to computer equipment and software of which $1.1 million was classified as selling, general and administrative expenses. The impairment charge was triggered by a decision to discontinue a software project.

Gain on settlement is a result of the Company settling its worldwide patent litigation with Vizgen in the first quarter of 2025 and Bruker in the second quarter of 2025.

We expect our operating expenses to trend lower in 2025 versus prior year as a result of our actions to reduce operating costs including our May 2025 reduction in force that resulted 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 EndedJune 30,ChangeSix Months EndedJune 30,Change(dollars in thousands)20252024$%20252024$%Interest income$4,271 $4,715 $(444