10x Genomics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>10x Genomics, Inc. has submitted its comprehensive 2023 annual report detailing financial performance and corporate structure.</b>

AI Summary

10x Genomics, Inc. (TXG) filed a Annual Report (10-K) with the SEC on February 15, 2024. 10x Genomics, Inc. filed its annual report for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and headquartered in Pleasanton, California. The filing covers the fiscal year 2023, with data also referencing fiscal years 2022, 2021, and 2020. Key financial statement components like Common Stock, Additional Paid-In Capital, Retained Earnings, and Accumulated Other Comprehensive Income are detailed for multiple fiscal year-ends. The report includes information on Common Class A and Class B membership shares.

Why It Matters

For investors and stakeholders tracking 10x Genomics, Inc., this filing contains several important signals. This 10-K filing provides a detailed overview of 10x Genomics' financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The inclusion of historical financial data allows for trend analysis and comparison, enabling stakeholders to understand the company's trajectory over several years.

Risk Assessment

Risk Level: medium — 10x Genomics, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative performance without further analysis of the specific financial figures and management discussion.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to identify key performance indicators, revenue trends, and any disclosed risks or opportunities.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-15 — Filing Date (FILED AS OF DATE)
• 2023 — Fiscal Year (2023 FY)
• 2022 — Prior Fiscal Year (2022 FY)

Key Players & Entities

• 10x Genomics, Inc. (company) — CONFORMED NAME
• 0001770787-24-000017 (other) — ACCESSION NUMBER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240215 (date) — FILED AS OF DATE
• DE (other) — STATE OF INCORPORATION
• 3826 (other) — STANDARD INDUSTRIAL CLASSIFICATION
• Pleasanton, CA (location) — BUSINESS ADDRESS CITY, STATE
• 001-39035 (other) — SEC FILE NUMBER

FAQ

Industry Context

10x Genomics operates in the laboratory analytical instruments industry, focusing on life science tools.

Regulatory Implications

The filing is a standard Form 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the 'Consolidated Statements of Operations' for revenue and net income trends.
2. Examine the 'Consolidated Balance Sheets' for asset, liability, and equity positions.
3. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business performance and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 2023 10-K.
• 2024-02-15: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the period ending December 31, 2023, and contains historical financial data for prior periods for comparison.

Key Financial Figures

• $0.00001 — stered Class A common stock, par value $0.00001 per share TXG The Nasdaq Stock Market L
• $67 billion — rket opportunities across the more than $67 billion global life sciences research tools mar
• $16 billion — stimates, we could access approximately $16 billion of the global life sciences research to
• $618.7 million — in over 50 countries. Our revenue was $618.7 million and $516.4 million for the years ended
• $516.4 million — es. Our revenue was $618.7 million and $516.4 million for the years ended 2023 and 2022, resp
• $255.1 million — rate of 20%. We generated net losses of $255.1 million and $166.0 million for the years ended
• $166.0 million — erated net losses of $255.1 million and $166.0 million for the years ended 2023 and 2022, resp

Filing Documents

• txg-20231231.htm (10-K) — 2111KB
• ex1051-2019omnibusincentiv.htm (EX-10.5 1) — 257KB
• ex1052-2019omnibusincentiv.htm (EX-10.5 2) — 245KB
• ex1061-2019employeestockpu.htm (EX-10.6 1) — 87KB
• ex1028-transitionandsepara.htm (EX-10.28) — 97KB
• ex191amendedandrestatedins.htm (EX-19.1) — 81KB
• a231_eyfy2310kconsent.htm (EX-23.1) — 3KB
• txg-20231231xex311.htm (EX-31.1) — 10KB
• txg-20231231xex312.htm (EX-31.2) — 10KB
• txg-20231231xex321.htm (EX-32.1) — 5KB
• txg-20231231xex322.htm (EX-32.2) — 5KB
• ex971policyforrecoveryofer.htm (EX-97.1) — 26KB
• image_0.jpg (GRAPHIC) — 2KB
• image_10xheader.jpg (GRAPHIC) — 23KB
• image_10xheader1.jpg (GRAPHIC) — 23KB
• txg-20231231_g1.jpg (GRAPHIC) — 223KB
• txg-20231231_g10.jpg (GRAPHIC) — 250KB
• txg-20231231_g11.jpg (GRAPHIC) — 83KB
• txg-20231231_g12.jpg (GRAPHIC) — 87KB
• txg-20231231_g2.jpg (GRAPHIC) — 349KB
• txg-20231231_g3.jpg (GRAPHIC) — 159KB
• txg-20231231_g4.jpg (GRAPHIC) — 67KB
• txg-20231231_g5.jpg (GRAPHIC) — 90KB
• txg-20231231_g6.jpg (GRAPHIC) — 114KB
• txg-20231231_g7.jpg (GRAPHIC) — 273KB
• txg-20231231_g8.jpg (GRAPHIC) — 92KB
• txg-20231231_g9.jpg (GRAPHIC) — 339KB
• 0001770787-24-000017.txt (&nbsp;) — 15919KB
• txg-20231231.xsd (EX-101.SCH) — 58KB
• txg-20231231_cal.xml (EX-101.CAL) — 115KB
• txg-20231231_def.xml (EX-101.DEF) — 295KB
• txg-20231231_lab.xml (EX-101.LAB) — 866KB
• txg-20231231_pre.xml (EX-101.PRE) — 565KB
• txg-20231231_htm.xml (XML) — 1262KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 27 Item 1B. Unresolved Staff Comments 73

C

Item 1 C . Cybersecurity 73 Item 2.

Properties

Properties 75 Item 3.

Legal Proceedings

Legal Proceedings 75 Item 4. Mine Safety Disclosures 75 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 76 Item 6. [Reserved] 77 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 78 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 90 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 91 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 125 Item 9A.

Controls and Procedures

Controls and Procedures 125 Item 9B. Other Information 127 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 127 PART III Item 10. Directors, Executive Officers and Corporate Governance 128 Item 11.

Executive Compensation

Executive Compensation 128 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 128 Item 13. Certain Relationships and Related Transactions, and Director Independence 128 Item 14. Principal Accounting Fees and Services 128 PART IV Item 15. Exhibits, Financial Statement Schedules 129 Item 16. Form 10-K Summary 132

Signatures

Signatures 133 Table of Contents 10x Genomics, Inc. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended , and Section 21E of the Securities Exchange Act of 1934, as amended , which are subject to those sections' "safe harbor." All statements, other than historical facts, may be forward-looking statements. Forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or variations of these terms or similar terminology generally can identify forward-looking statements, but the absence of these words is not determinative. These forward-looking statements include statements regarding 10x Genomics, Inc.'s expectations regarding our plans, objectives, goals, beliefs, business strategies, results of operations, financial position, sufficiency of our capital resources, business outlook, future events, business conditions, key business metrics and key factors affecting our performance, gross margin trends, expected future investments including anticipated capital expenditures, anticipated size of market opportunities and our ability to capture them, expected uses, performance and benefits of our products and services, business trends and other information. These statements are based on management's expectations, forecasts, beliefs, opinions, assumptions and information available at the time of filing and should not be relied upon as 10x Genomics, Inc.'s views as of any subsequent date. Actual outcomes and results could differ materially from these statements due to several factors. 10x Genomics, Inc. disclaims any obligation to update any published forw

Business

Item 1. Business. Mission Our mission is to accelerate the mastery of biology to advance human health. Overview We are a life sciences technology company focused on building innovative products and solutions to interrogate, understand and master biology. Our integrated solutions include instruments, consumables and software for analyzing biological systems at a resolution and scale that matches the complexity of biology. We have built deep expertise across diverse disciplines including chemistry, biology, hardware and software. Innovations in all of these areas have enabled our rapidly expanding suite of products, which allow our customers to interrogate biological systems at previously inaccessible resolution and scale. Our products have enabled researchers to make fundamental discoveries across multiple areas of biology, including oncology, immunology and neuroscience, and have helped empower the single cell revolution hailed by Science magazine as the 2018 "Breakthrough of the Year." Our products have won many awards, including among others the technological advancements in single cell multimodal omics hailed by Nature Methods journal as the 2019 "Method of the Year" and the technological advancements in spatially resolved transcriptomics hailed by Nature Methods journal as the 2020 "Method of the Year." Through our compatible partner program, we and our two long read sequencing company partners launched products and protocols providing the ability to obtain full-length isoforms at single cell resolution. This groundbreaking capability was highlighted as part of the Nature Methods 2022 "Method of the Year" Long-read sequencing. Since 2015, a total of seven 10x products have been recognized by The Scientist magazine on their annual Top 10 Innovations list, an annual list of newly released products that have the potential to generate the biggest impact on scientific research. Since launching our first product in mid-2015 through December 31, 2023, we have sold

View Full Filing

View this 10-K filing on SEC EDGAR