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10x 10x Genomics Reports Second Quarter 2021 Financial Results August 4 , 2021 GENOMICS Q2 2021 revenue growth of 170 % over prior year and 9 % over prior quarter PLEASANTON , Calif . , Aug. 04 , 2021 ( GLOBE NEWSWIRE ) -- 10x Genomics , Inc. ( Nasdaq : TXG ) today reported financial results for the second quarter ended June 30 , 2021 . Recent Highlights • Revenue was $ 115.8 million for the second quarter , representing a 170 % increase over the corresponding period of 2020 and a 9 % increase compared to the first quarter of 2021 • Launched Chromium X , a next - generation instrument and platform for single cell analysis enabling million cell experiments and accelerating discoveries in areas including drug and CRISPR screens , large - scale translational studies , cell mapping , antibody discovery and biomarker identification Began shipping Visium Spatial Gene Expression for FFPE , a new assay that gives researchers access to whole transcriptome spatial profiling of preserved tissue blocks enabling for the first time unbiased discovery in FFPE samples all outstanding • Entered into a global settlement and cross - license agreement with Bio - Rad Laboratories , Inc. litigation underscoring the value of 10x Genomics ' innovation and strong patent portfolio " We continued our track record of execution during the second quarter , delivering on major strategic objectives while also delivering on our commercial plans and R & D pipeline , " said Serge Saxonov , Co - founder and CEO of 10x Genomics . " Single cell and spatial analyses represent the future of biology . We will continue to build on our progress and momentum in bringing these technologies to more and more researchers around the world . " Second Quarter 2021 Financial Results Revenue was $ 115.8 million for the three months ended June 30 , 2021 , a 170 % increase from $ 42.9 million for the three months ended June 30 , 2020 . This increase was primarily the result of increased consumables revenue driven by growth in the instrument installed base and decreased impact of the pandemic on customer operations . Gross margin was 96 % for the second quarter of 2021 , as compared to 77 % for the corresponding prior year period . The increase in gross margin was driven primarily by a one - time reversal of $ 14.7 million of accrued royalties related to the settlement of ongoing litigation with Bio - Rad . Operating expenses were $ 121.3 million for the second quarter of 2021 , a 68 % increase from $ 72.3 million for the three months ended June 30 , 2020 . Drivers of the increase in operating expenses this quarter include increased personnel expenses , including stock - based compensation , and increased expenses related to materials , facilities and technology to support operational expansion . Operating loss was $ 10.3 million for the second quarter of 2021 , as compared to $ 39.4 million for the corresponding prior year period . This includes $ 26.9 million of stock - based compensation for the second quarter of 2021 , as compared to $ 13.9 million for the second quarter of 2020 . Net loss was $ 11.1 million for the second quarter of 2021 , as compared to a net loss of $ 40.2 million for the corresponding prior year period . Cash and cash equivalents were $ 622.0 million as of June 30 , 2021 . 2021 Financial Guidance 10x Genomics is maintaining its previously announced full year 2021 revenue guidance of $ 480 million to $ 500 million , representing 61 % to 67 % growth over full year 2020 revenue . Webcast and Conference Call Information 10x Genomics will host a conference call to discuss the second quarter 2021 financial results , business developments and outlook after market close on Wednesday , August 4 , 2021 at 1:30 PM Pacific Time / 4:30 PM Eastern Time . A webcast of the conference call can be accessed at http://investors.10xgenomics.com . The webcast will be archived and available for replay at least 45 days after the event . About 10x Genomics 10x Genomics is a life science technology company building products to interrogate , understand and master biology to advance human health . The company's integrated solutions include instruments , consumables and software for analyzing biological systems at a resolution and scale that matches the complexity of biology . 10x Genomics products have been adopted by researchers around the world including in all of the top 100 global research institutions as ranked by Nature in 2020 based on publications and all of the top 20 global pharmaceutical companies by 2020 research and development spend , and have been cited in over 2,800 research papers on discoveries ranging from oncology to immunology and neuroscience . The company's patent portfolio comprises more than 1,150 issued patents and patent applications . Forward Looking Statements