Loading...
Docoh

10x Genomics (TXG)

10x Genomics is an American biotechnology company that designs and manufactures gene sequencing technology used in scientific research. It was founded in 2012 by Serge Saxonov, Ben Hindson, and Kevin Ness.

Company profile

Ticker
TXG
Exchange
CEO
Serge Saxonov
Employees
Incorporated
Location
Fiscal year end
Former names
10X Genomics, Inc.
SEC CIK
IRS number
455614458

TXG stock data

Calendar

8 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 281.79M 281.79M 281.79M 281.79M 281.79M 281.79M
Cash burn (monthly) 12.77M 30.58M 21.28M 11.52M 5.65M 4.85M
Cash used (since last report) 39.05M 93.47M 65.04M 35.21M 17.28M 14.82M
Cash remaining 242.74M 188.32M 216.75M 246.58M 264.51M 266.97M
Runway (months of cash) 19.0 6.2 10.2 21.4 46.8 55.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Sep 22 Kosaraju Sridhar Class A Common Stock Option exercise Acquire M No No 11.48 10,000 114.8K 30,578
14 Sep 22 Kosaraju Sridhar Stock Option Class A Common Stock Option exercise Dispose M No No 11.48 10,000 114.8K 84,167
14 Sep 22 James Wilbur Class A Common Stock Grant Acquire A No No 0 95,839 0 95,839
14 Sep 22 James Wilbur Stock Option Class A Common Stock Grant Acquire A No No 33.67 239,596 8.07M 239,596
14 Sep 22 Justin J. McAnear Class A Common Stock Grant Acquire A No No 0 20,297 0 78,389
14 Sep 22 Justin J. McAnear RSU Class A Common Stock Grant Acquire A No No 0 40,593 0 40,593
14 Sep 22 Justin J. McAnear Stock Option Class A Common Stock Grant Acquire A No No 33.67 40,593 1.37M 40,593
14 Sep 22 Hindson Benjamin J. Class A Common Stock Grant Acquire A No No 0 33,828 0 220,074
14 Sep 22 Hindson Benjamin J. RSU Class A Common Stock Grant Acquire A No No 0 67,655 0 67,655
14 Sep 22 Hindson Benjamin J. Stock Option Class A Common Stock Grant Acquire A No No 33.67 67,655 2.28M 67,655
13F holders Current Prev Q Change
Total holders 247 312 -20.8%
Opened positions 31 48 -35.4%
Closed positions 96 98 -2.0%
Increased positions 93 130 -28.5%
Reduced positions 81 70 +15.7%
13F shares Current Prev Q Change
Total value 5.58B 8.86B -37.0%
Total shares 96.83M 93.54M +3.5%
Total puts 152.9K 128.7K +18.8%
Total calls 259.7K 236.6K +9.8%
Total put/call ratio 0.6 0.5 +8.2%
Largest owners Shares Value Change
MS Morgan Stanley 8.9M $402.58M -4.4%
Baillie Gifford & Co 8.38M $379.15M +13.9%
Vanguard 7.83M $354.21M +1.2%
BLK Blackrock 6.82M $308.71M -25.5%
FMR 6.2M $280.35M +50.2%
Venrock Associates VI 4.83M $719.22M 0.0%
ARK Investment Management 3.6M $184.45M +6.2%
Sands Capital Management 3.53M $159.59M +10.2%
SRS Investment Management 2.76M $124.81M +1214.3%
Generation Investment Management 2.62M $118.7M NEW
Largest transactions Shares Bought/sold Change
Generation Investment Management 2.62M +2.62M NEW
SRS Investment Management 2.76M +2.55M +1214.3%
BLK Blackrock 6.82M -2.33M -25.5%
FMR 6.2M +2.07M +50.2%
AMP Ameriprise Financial 57.51K -1.58M -96.5%
12 West Capital Management 1.25M -1.27M -50.4%
Baillie Gifford & Co 8.38M +1.02M +13.9%
JPM JPMorgan Chase & Co. 1.01M +926.16K +1105.7%
Capital World Investors 866.7K +866.7K NEW
Brown Capital Management 2.43M +767.49K +46.1%

Financial report summary

?
Competition
Nanostring
Risks
  • Our business currently depends significantly on research and development spending by research institutions and the ability of researchers to access and fully utilize labs and conduct research, a reduction in which could limit demand for our products and materially and adversely affect our business and operating results.
  • The impacts and potential impacts of the COVID-19 pandemic continue to create significant uncertainty for our business, financial condition and results of operations.
  • We and our customers are dependent on single source and sole source suppliers for some of the equipment, components and materials used in our products and in conjunction with our products and the loss of any of these suppliers could harm our business. The ability of suppliers to meet our needs and the needs of our customers could be reduced or eliminated by the impacts of the COVID-19 pandemic or other factors.
  • We rely exclusively on commercial carriers to transport our products, including perishable consumables, to our customers in a timely and cost-efficient manner and if these delivery services are disrupted, our business will be harmed.
  • Our operating results have in the past fluctuated significantly and may continue to fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
  • Our instruments, consumables and related components are specialized, complex and difficult to manufacture. We could experience production problems that impact our ability to manufacture and ship our instruments, consumables and related components, which would materially and adversely affect our business, financial condition and results of operations.
  • Certain disruptions in supply of, and changes in the competitive environment for, raw materials integral to the manufacturing of our products may adversely affect our profitability.
  • We may be unable to consistently manufacture our instruments and consumables to the necessary specifications or in quantities necessary to meet demand at an acceptable cost or at an acceptable performance level.
  • Our industry is highly competitive. If we fail to compete effectively, our business and operating results will suffer.
  • We are significantly dependent upon revenue generated from the sale of our Chromium solutions, and in particular our Single Cell Gene Expression solutions.
  • Our failure to effectively manage product transitions or accurately forecast customer demand could result in excess or obsolete inventory and resulting charges.
  • Our future success is dependent upon our ability to increase penetration in our existing markets and to maintain and increase the effectiveness of our commercial organization.
  • We may not be able to develop new products, enhance the capabilities of our existing products to keep pace with rapidly changing technology and customer requirements or successfully manage the transition to new product offerings, any of which could have a material adverse effect on our business and operating results.
  • If our existing and new products fail to achieve and sustain sufficient scientific acceptance, we will not generate expected revenue and our prospects may be harmed.
  • If we do not sustain or successfully manage our growth and anticipated growth, our business and prospects will be harmed.
  • Our limited operating history and rapid revenue growth make it difficult to evaluate our future prospects and the risks and challenges we may encounter.
  • The size of the market for our solutions may be smaller than estimated and new opportunities may not develop as quickly as we expect, or at all, limiting our ability to successfully sell our solutions.
  • We depend on our key personnel and other highly qualified personnel, and if we are unable to recruit, train, retain and ensure the health and safety of our personnel, we may not achieve our goals.
  • Our management uses certain key business metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections and make strategic decisions and such metrics may not accurately reflect all of the aspects of our business needed to make such evaluations and decisions, in particular as our business continues to grow.
  • If our facilities or our third-party manufacturers’ facilities become unavailable or inoperable, our research and development programs could be adversely impacted and manufacturing of our instruments and consumables could be interrupted.
  • Costs, delays or other factors related to our facilities and real estate portfolio could adversely impact our business.
  • Undetected errors or defects in our solutions could harm our reputation and decrease market acceptance of our solutions.
  • We have incurred significant losses since inception, we expect to incur losses in the future and we may not be able to generate sufficient revenue to achieve and maintain profitability.
  • If we fail to offer high-quality customer service, our business and reputation could suffer.
  • Investments and acquisitions could disrupt our business, cause dilution to our stockholders and otherwise harm our business.
  • Seasonality may cause fluctuations in our revenue and results of operations.
  • Our reliance on distributors for sales of our products in certain geographies outside of the United States could limit or prevent us from selling our products and impact our revenue.
  • Doing business internationally creates operational and financial risks for our business.
  • The United Kingdom’s withdrawal from the European Union may have a negative effect on global economic conditions, financial markets and our business.
  • The illegal distribution and sale by third parties of counterfeit or unfit versions of our products or stolen products could have a negative impact on our reputation and business.
  • The investment of marketable securities is subject to risks which may cause losses and affect the liquidity of these investments.
  • Indebtedness may impair our financial and operating flexibility.
  • If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • Ethical, legal, privacy and social concerns or governmental restrictions surrounding the use of the genomic and multi-omic information and gene editing could reduce demand for our products.
  • Our products could become subject to more onerous regulation by the U.S. Food and Drug Administration (“FDA”) or other regulatory agencies in the future, which could increase our costs and delay or prevent commercialization of our products, thereby materially and adversely affecting our business, financial condition, results of operations and prospects.
  • Enhanced trade tariffs, import restrictions, export restrictions, Chinese regulations or other trade barriers may materially harm our business.
  • Our ability to use net operating losses to offset future taxable income may be subject to certain limitations.
  • We are subject to risks related to taxation in multiple jurisdictions.
  • Changes in tax laws or regulations that are applied adversely to us or our customers may have a material adverse effect on our business, cash flow, financial condition or results of operations.
  • Our success will depend on our ability to obtain, maintain and protect our intellectual property rights.
  • We are subject to certain manufacturing restrictions related to licensed intellectual property rights that were developed with the financial assistance of United States government grants.
  • Obtaining and maintaining patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • If we cannot successfully enforce our intellectual property rights, the commercial value of our products and technologies will be adversely affected and our competitive position may be harmed.
  • If our trademarks and trade names are not adequately protected, we may not be able to build name recognition in our markets of interest and our competitive position may be harmed.
  • Changes in patent law could diminish the value of our patents in general, thereby impairing our ability to protect our current and future products or technologies, and could increase the uncertainties and costs surrounding the prosecution of our patent applications and the enforcement or defense of our current or future patents.
  • We depend on certain intellectual property rights that are licensed to us. We may be unsuccessful in licensing or acquiring intellectual property rights from third parties that may be necessary to develop, manufacture and/or commercialize our current and/or future products or technologies.
  • We may be subject to claims that we or our employees have misappropriated the intellectual property rights of a third party, including trade secrets or know-how, or are in breach of non-competition or non-solicitation agreements with our competitors.
  • We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property rights.
  • If we fail to execute invention assignment agreements with our employees and contractors involved in the development of intellectual property rights or are unable to protect the confidentiality of our trade secrets, the value of our products and technologies and our business and competitive position could be harmed.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • Our solutions contain third-party open source software components and failure to comply with the terms of the underlying open source software licenses could restrict our ability to sell our products.
  • We collect, process, store, share, disclose and use personal information and other data, which subjects us to governmental regulations and other legal obligations related to privacy and security, and our actual or perceived failure to comply with such obligations could harm our business.
  • If we or our critical third-party providers experience a significant disruption in our information technology systems or breaches of data security, our business could be adversely affected.
  • We rely on on-premise, co-located and third-party data centers and platforms to host our website and other online services, as well as for research and development purposes and any interruptions of service or failures may impair and harm our business.
  • We may become a party to intellectual property litigation or administrative proceedings that could be expensive, time-consuming, unsuccessful, and could interfere with our ability to develop, manufacture and commercialize our products or technologies.
  • We are involved in lawsuits to protect, enforce or defend our patents and other intellectual property rights, which are expensive, time consuming and could ultimately be unsuccessful.
  • If we are unable to protect our intellectual property effectively, our business would be harmed.
  • The U.S. law relating to the patentability of certain inventions in the life sciences is uncertain and rapidly changing, which may adversely impact our existing patents or our ability to obtain patents in the future.
  • Sales of a substantial number of shares of our Class A common stock by our existing stockholders could cause the price of our Class A common stock to decline.
  • The multi-class structure of our common stock has the effect of concentrating voting control with those stockholders who held our capital stock prior to the completion of our IPO, including our co-founders, and may depress the trading price of our Class A common stock.
  • We have incurred and will continue to incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices, including maintaining an effective system of internal controls over financial reporting. We ceased to be an "emerging growth company" and are now required to comply with certain provisions of SOX and are no longer permitted to take advantage of reduced disclosure requirements applicable to emerging growth companies.
  • Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws might discourage, delay or prevent a change in control of our company or changes in our management and, therefore, depress the trading price of our Class A common stock.
  • Our amended and restated bylaws designate a state or federal court located within the State of Delaware as the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers or employees.
  • Securities analysts may not publish favorable research or reports about our business or may publish no information at all, which could cause our stock price or trading volume to decline.
  • If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our operating results could fall below our publicly announced guidance or the expectations of securities analysts and investors, resulting in a decline in the market price of our Class A common stock.
  • The market price of our Class A common stock may be volatile, which could result in substantial losses for investors.
Management Discussion
  • In this section, we discuss the results of our operations for the year ended December 31, 2021 compared to the year ended December 31, 2020. For a discussion of the year ended December 31, 2020 compared to the year ended December 31, 2019, please refer to Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2020.
  • Revenue increased $191.6 million, or 64%, for the year ended December 31, 2021 as compared to year ended December 31, 2020. The increase was driven primarily by an increase in consumables and instruments revenue. Consumables revenue increased $166.1 million, or 66%, to $418.7 million for the year ended December 31, 2021 as compared to the year ended December 31, 2020. The increase in consumables revenue was primarily driven by growth in instrument sales and higher demand for our products, in part due to a lessening impact on our customers' operations related to the COVID-19 pandemic compared to the prior year. We experienced continued increases in revenue from our Single Cell Multiome ATAC+Gene Expression and Visium Spatial Gene Expression consumable products.
  • Instrument revenue increased $24.3 million, or 61%, to $64.5 million for the year ended December 31, 2021 as compared to the year ended December 31, 2020 due to an increase in number of units sold. We believe consumables and instrument revenues for 2020 were adversely impacted by customer lab closures due to the impact of the COVID-19 pandemic. The number of instruments sold during the year ended December 31, 2021 1,099 units, an increase of 46% as compared to the prior year, resulted in a total of 3,511 cumulative instruments sold since inception. Revenue for the year ended December 31, 2021 include sales of our newly introduced Chromium X Series instruments.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: August, CytAssist, indirect, save, simplify, streamlined, unfavorable
Removed: academic, accelerated, April, assist, beginning, build, capacity, closed, community, continuing, continuity, declared, deliver, delivery, disease, disrupted, disruption, disruptive, economy, enhanced, essential, established, expensive, external, faced, facilitated, fight, grow, half, health, holding, immune, implemented, importance, improving, infected, IPO, key, labor, large, launch, licensed, light, local, lost, maintained, maintaining, manage, mobilized, monitoring, national, network, open, outbreak, partner, people, person, pharmaceutical, production, profit, reinstated, reinstatement, reliably, remain, remote, require, resolved, response, resulted, resume, resumed, secure, ship, situation, staffing, strategic, successfully, system, thousand, tool, translational, understanding, utilization, vaccination, volatility, working, world

Patents

Utility
Methods and Systems for Processing Polynucleotides
29 Sep 22
The present disclosure provides compositions, methods, systems, and devices for polynucleotide processing and analyte characterization.
Utility
Resolving Spatial Arrays Using Deconvolution
15 Sep 22
Methods for determining a location of a feature on an array include: (a) providing a first array with a first plurality of features immobilized on a first substrate; (b) providing a second array with a second plurality of features immobilized on a second substrate; (c) aligning the first array with the second array; (d) hybridizing a first barcoded oligonucleotide of the first array to a second barcoded oligonucleotide of the second array, thereby producing a combined nucleic acid that includes first and second spatial barcodes; (e) determining all or a portion of the sequence of the combined nucleic acid; and (f) identifying the second barcoded oligonucleotide associated with the first barcoded oligonucleotide in the combined nucleic acid, and determining the location of a second feature in the second array.
Utility
Nucleic Acid Sequencing
15 Sep 22
A nucleic acid sequencing method involving contacting a spatially defined target nucleic acid sequence with N labeled oligonucleotide probes and performing measurements, at least at the spatially defined site (1), at M time instances during ligation or hybridization to form M data sets.
Utility
Compositions, methods, and systems for bead formation using improved polymers
13 Sep 22
The present disclosure provides systems and methods for making a hydrogel comprising a cell, cell nucleus, or one or more components derived from a cell or cell nucleus.
Utility
Methods and systems for processing polynucleotides
13 Sep 22
This disclosure provides methods and compositions for sample processing, particularly for sequencing applications.