Company: TXG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001770787-25-000032
Chunk: 36

Company: 10x Genomics, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 36
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 States(1)$86,818 $75,637 Americas (excluding United States)3,752 3,993 Total Americas90,570 79,630 Europe, Middle East and Africa31,895 34,721 Asia-PacificChina16,883 13,924 Asia-Pacific (excluding China)15,535 12,731 Total Asia-Pacific32,418 26,655 Total revenue$154,883 $141,006 (1) Includes license and royalty revenue.   

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Table of Contents10x Genomics, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

License and Royalty RevenueDuring the three months ended March 31, 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.Other Income (Expense), NetGains or losses from foreign currency remeasurement are included in “Other income (expense), net” in the consolidated statements of operations. The Company recognized foreign currency transaction losses of $1.5 million for the three months ended March 31, 2025, and foreign currency transaction income of $1.0 million for the three months ended March 31, 2024, respectively.

4.    Commitments and Contingencies

Lease AgreementsThe Company leases office, laboratory, manufacturing, distribution and server space in various locations worldwide. The payments due under the Company’s operating lease liabilities as of March 31, 2025 are as follows (in thousands):Operating Leases2025 (excluding the three months ended March 31, 2025)$10,101 202615,371 202715,585 202815,756 202914,329 Thereafter26,339 Total lease payments$97,481 Less: imputed interest(17,407)Present value of operating lease liabilities$80,074