10x Genomics Inc. has reported its financial results for the first quarter of 2025. The company achieved a revenue of $154.9 million, marking a 10% increase from $141.0 million in the same period last year. This revenue includes $16.8 million from a worldwide patent litigation settlement. Without this settlement, the revenue was $138.1 million, representing a 2% decrease from the corresponding period of 2024, largely due to a significant decrease in instrument revenue. The gross margin for the first quarter of 2025 was 68%, an improvement from 66% in the prior year period. This increase was attributed to higher license and royalty revenue and reduced manufacturing costs, although it was partially offset by an increase in inventory reserves. The net loss for the quarter was $34.4 million, compared to a net loss of $59.9 million in the same period last year. The company held cash and cash equivalents and marketable securities totaling $426.9 million as of March 31, 2025. Due to recent U.S. policy changes affecting academic and government research funding, 10x Genomics has withdrawn its previously issued full-year revenue guidance. For the second quarter of 2025, the company expects revenue to range between $138 million and $142 million, representing 1% growth sequentially at the midpoint, excluding the license and royalty revenue from the settlement. In response to these challenges, the company has implemented a plan to reduce operating expenses by more than $50 million for the year 2025 compared to the previous year, which includes a reduction of approximately 8% of its global workforce.