Company: TXG
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001770787-25-000032
Chunk: 64

Company: 10x Genomics, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 measures that could also have adverse impacts on our revenue, including hiring freezes, rescissions of offers of acceptance to academic programs, caps or additional scrutiny, processes or layers of approval required to authorize expenditures or limitations or reductions on capital expenditures which may, for example, delay or prevent purchases of our instruments. Additionally, in 2025 the United States Department of State revoked the visas or legal statuses of, to date, more than 1,800 international students at more than 280 colleges and universities in the United States on the 

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grounds that the “presence or activities in the United States [of such students]...would have potentially serious adverse foreign policy consequences for the United States.” These or potential additional future visa or legal status revocations or similar actions could negatively impact our revenue as some affected individuals may be current or potential users or purchasers of our products.

There is currently significant uncertainty regarding further delays, reductions, modification of the terms or cancellations of U.S. academic and government funding or other changes to the budgets, budget cycles, seasonal or other spending patterns or the operations of our customers or the institutions that fund them. Delays, reductions, cancellations, caps, reprioritizations or other changes to our customers’ budgets, expenditures or operations could materially and adversely affect our business, operating results and financial condition.

Our business currently depends significantly on research and development spending by research institutions, a reduction in which could limit demand for our products and materially and adversely affect our business and operating results.

A large portion of our revenue comes from sales of Chromium, Visium and Xenium products to research institutions. As a result, the demand for our products will depend upon research priorities and purchasing patterns of these customers, the ability of such customers to adequately staff, access and utilize labs and conduct research, the research and development budgets of these customers and the ability of such customers to receive funding for research, all of which are impacted by factors beyond our control, such as:

•decreases or delays in funding of research and development;

•changes in, restrictions upon, availability of, delays or interruptions to funding or other incentives for our customers including administrative or other delays in funding or incentive award processes, changes in the amount of funds or other incentives allocated to different areas of research, changes that have the effect of increasing the length of the funding or incentive award process;

•competitor product offerings or pricing;

•changes in our customers' research priorities;

•macroeconomic conditions including regional, national or global economic downturns, inflation, interest rate or currency