NEW YORK – 10x Genomics said on Thursday after the close of the market that it has laid off approximately 8 percent of its workforce as part of its cost saving strategy to weather the unfavorable macroeconomic environment resulting from recent US policy changes.

纽约——10x Genomics公司在周四市场收盘后表示，作为应对美国近期政策变化导致的不利宏观经济环境的成本节约策略的一部分，公司已裁员约8%的员工。

Given the wider economic uncertainties, the Pleasanton, California-based single-cell and spatial genomics firm also decided to withdraw its previously issued revenue guidance for the year, replacing it with short-term guidance for the second quarter.

鉴于更广泛的经济不确定性，这家位于加利福尼亚州普莱森顿的单细胞和空间基因组学公司还决定撤回之前发布的年度收入预测，代之以针对第二季度的短期预测。

'We have implemented a reduction in both headcount and non-headcount-related expenses across the company,' 10x CEO and Cofounder Serge Saxonov told investors in a conference call recapping the firm's Q1 financial results. 'While these changes are never easy, they will allow us to be a more efficient organization, better positioned to navigate today's environment, while continuing to invest in our highest priorities.' .

“我们已经在整个公司范围内实施了人员和非人员相关费用的削减，”10x首席执行官兼联合创始人谢尔盖·萨克索诺夫在回顾公司第一季度财务业绩的电话会议上告诉投资者。“虽然这些改变从来都不容易，但它们将使我们成为一个更高效的组织，更好地应对当前环境，同时继续投资于我们的最高优先事项。”

Saxonov said the layoffs happened 'across the company,' affecting pretty much every department. The R&D team lost more staff than the direct sales department, he noted.

萨克索诺夫表示，裁员“在整个公司”进行，几乎影响到每个部门。他指出，研发团队比直销部门裁员更多。

Together with the 'significant reductions' in other spending, the company anticipates to reduce operating expenses by more than $50 million for 2025 compared to 2024, CFO Adam Taich told investors. The company also estimates to incur between $5.5 million and $6.5 million in costs associated with these measures, primarily cash severance costs, which will be paid by the end of the third quarter..

财务总监亚当·泰奇告诉投资者，连同其他支出的“大幅减少”，公司预计2025年的运营费用将比2024年减少超过5000万美元。公司还估计，与此相关的措施将产生550万至650万美元的费用，主要是现金遣散费，这些费用将在第三季度末前支付。

Saxonov said the need for these cost-saving measures stems from the 'rapidly evolving macro environment' in the US, particularly relating to the cuts in research funding  across US academic and government labs, where 'the environment kept getting worse as we proceeded through the quarter.'

萨克索诺夫表示，采取这些降低成本的措施是因为美国“快速变化的宏观环境”，特别是与美国学术和政府实验室的研究资金削减有关，“随着我们进入季度，环境变得越来越差”。

Specifically, the company is observing two dynamics regarding US public funding. Some changes — such as delays, reductions, and outright cancellations of grants — are having a real-time impact on the company's customers, Saxonov noted. Additionally, there is a growing threat of future changes, such as proposed National Institutes of Health budget cuts, implementation of NIH indirect cost cuts, and widespread concern over further grant review delays or project cancellations..

具体来说，该公司正在观察有关美国公共资金的两个动态。Saxonov 指出，一些变化——如拨款的延迟、减少以及彻底取消——正在实时影响公司的客户。此外，未来变化的威胁也在增加，例如拟议的国立卫生研究院预算削减、实施 NIH 间接成本削减，以及对进一步拨款审查延迟或项目取消的广泛担忧。

'Taken together, these pressures are creating a climate of deep uncertainty,' Saxonov said. 'We are increasingly hearing from customers that the combination of actual cuts and looming risks is making them hesitant to initiate new projects or invest in capital purchases.'

“综上所述，这些压力正在营造一种深度不确定的氛围，”萨克索诺夫说。“我们越来越多地听到客户反馈，实际削减与潜在风险的结合让他们对启动新项目或投资资本购买感到犹豫。”

In the meantime, 10x is 'highly exposed' to US government funding, Taich said, given that approximately 40 percent to 50 percent of the company's revenue is supported by such funding, half of that from the NIH.

与此同时，泰奇表示，鉴于公司约 40% 至 50% 的收入依赖于此类资金支持，其中一半来自美国国立卫生研究院 (NIH)，10x 基因组学“高度暴露”于美国政府资助。

'The uncertainty for our customers is driving increasingly unpredictable purchasing behavior and reducing visibility on our outlook for the year,' Saxonov said. As a result, the company is withdrawing its previously issued

“我们客户的不确定性正在导致购买行为越来越难以预测，并降低了我们对今年前景的可见性，”萨克索诺夫说。因此，该公司将撤回其先前发布的

full-year guidance

全年指引

, which anticipated 2025 revenues to be in the range of $610 million to $630 million, representing flat to 3 percent growth over 2024.

预计2025年的收入将在6.1亿美元至6.3亿美元之间，较2024年持平至增长3%。

'While the change to our guide reflects the current macro funding environment rather than company-specific performance, we believe it is prudent to take this step to ensure transparency and avoid setting expectations with the significantly limited visibility we have under these evolving conditions,' Taich explained.

“虽然我们对指南的修改反映了当前宏观融资环境，而非公司特定的表现，但我们认为采取这一步骤是明智的，以确保透明度，并避免在这些不断变化的条件下，因视野严重受限而设定预期，”Taich解释道。

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Looking at Q1 financial results, for the three months ended March 31, 10x booked $154.9 million in revenues.

查看第一季度的财务结果，截至3月31日的三个月内，10x的收入为1.549亿美元。

According to Saxonov, during the quarter, the company reached a settlement agreement with Vizgen on 'very favorable terms' regarding the

根据萨克索诺夫的说法，在该季度，公司与Vizgen就“非常有利的条款”达成了和解协议，关于

patent infringement suit

专利侵权诉讼

between the two firms. Under the settlement, the company received a $26 million payment, which it recognized in part as reduced operating expenses related to obtaining the settlement and in part as license and royalty revenues.

两家公司之间。根据和解协议，该公司获得了 2600 万美元的付款，其中部分被确认为与达成和解相关的运营费用减少，部分被确认为许可和特许权使用费收入。

Excluding the $16.8 million license and royalty revenue from the settlement, the company's revenues were $138.1 million, down 2 percent from the $141.0 million in the prior-year period but beating the consensus Wall Street estimate of $132.5 million. The revenue decline during the quarter was primarily driven by 'a significant decrease in instrument revenue, offset by continued strength in consumables,' Saxonov said..

排除掉来自和解的1680万美元许可和特许权使用费收入，该公司的营收为1.381亿美元，较前一年同期的1.41亿美元下降了2%，但仍超过了华尔街普遍预期的1.325亿美元。萨克索诺夫表示，本季度收入下滑的主要原因是“仪器收入显著下降，但被耗材持续强劲的表现部分抵消”。

10x's Q1 instrument revenues were $14.8 million, declining 42 percent from $25.5 million a year ago. Spatial instrument revenues dropped 49 percent to $8.9 million from $17.6 million last year, driven primarily by fewer instruments sold. Chromium instrument revenues declined 25 percent year over year to $5.9 million from $7.9 million, driven primarily by lower average selling prices, Taich said.

10x公司第一季度仪器收入为1480万美元，较一年前的2550万美元下降了42%。空间仪器收入从去年的1760万美元下降了49%，至890万美元，主要原因是销售的仪器数量减少。台奇表示，Chromium仪器收入同比下降25%，从790万美元降至590万美元，主要原因是平均销售价格降低。

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Consumables revenues were $115.4 million, up 5 percent from $110.3 million a year ago. By platforms, Chromium consumables revenues were $84.1 million, almost flat compared to $83.9 million a year ago, while spatial consumables revenues increased 18 percent to $31.2 million from $26.4 million in Q1 2024..

消耗品收入为1.154亿美元，较去年的1.103亿美元增长了5%。按平台划分，Chromium消耗品收入为8,410万美元，与去年的8,390万美元几乎持平，而空间消耗品收入从2024年第一季度的2,640万美元增长了18%，达到3,120万美元。

Service revenues were $7.7 million, up 48 percent from the $5.2 million in Q1 2024.

服务收入为 770 万美元，较 2024 年第一季度的 520 万美元增长了 48%。

By geography, revenues from the Americas totaled $90.6 million, up 14 percent from $79.6 million for the same period a year ago. Revenues in the US were $86.8 million, a 15 percent increase from $75.6 million in the prior year.

按地理区域划分，美洲地区的收入总计为 9060 万美元，比去年同一时期的 7960 万美元增长了 14%。美国的收入为 8680 万美元，较前一年的 7560 万美元增长了 15%。

Revenues from Europe, the Middle East, and Africa were $31.9 million, down 8 percent from $34.7 million a year ago. Lastly, revenues from the Asia-Pacific region totaled $32.4 million, a 21 percent increase from $26.7 million in Q1 2024. Looking at China alone, revenues were 16.9 million, up 22 percent year over year from $13.9 million.

来自欧洲、中东和非洲的收入为 3,190 万美元，较一年前的 3,470 万美元下降了 8%。最后，亚太地区的收入总计为 3,240 万美元，较 2024 年第一季度的 2,670 万美元增长了 21%。单独看中国，收入为 1,690 万美元，较去年的 1,390 万美元同比增长了 22%。

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In regard to the evolving tariff landscape, Taich said the company is 'tracking developments very closely.' The company has 'a limited reliance on China' for its supply chain and 'has a global manufacturing footprint,' he said, with manufacturing sites in both the US and Singapore.

关于不断变化的关税形势，泰奇表示公司正在“非常密切地跟踪发展”。他说，公司的供应链对中国的依赖有限，“拥有全球制造基地”，在美国和新加坡都有制造工厂。

China accounted for approximately 10 percent of 10x's revenues in 2024, 'but given our ability to manufacture many of our products in Singapore and other mitigation strategies, we believe the impact from currently proposed tariffs is likely to be minimal,' Taich said.

中国在2024年约占10x公司收入的10％，但鉴于我们能够在新加坡制造许多产品，并采取其他缓解策略，我们认为目前拟议的关税影响可能微乎其微，Taich说道。

The firm's net loss for the quarter was $34.3 million, or $.28 per share, compared to a net loss of $59.9 million, or $.50 per share, in Q1 2024, narrowly beating the consensus Wall Street estimate of a $.29 loss per share.

该公司本季度的净亏损为 3430 万美元，即每股 0.28 美元，而 2024 年第一季度的净亏损为 5990 万美元，即每股 0.50 美元，略好于华尔街分析师平均预期的每股亏损 0.29 美元。

10x's R&D expenses for the quarter dropped 6 percent year over year to $64.2 million from $68.6 million. The change was mainly driven by lower personnel expenses, partially offset by higher lab material and supply costs, Taich said.

10x公司本季度的研发费用同比下降6%，从6860万美元降至6420万美元。Tai表示，这一变化主要是由较低的人员费用驱动的，部分被较高的实验室材料和供应成本所抵消。

Its SG&A expenses shrunk 5 percent to $89.7 million from $85.8 million a year ago. The decline was primarily driven by an increase in outside legal and personnel expenses, partially offset by a decrease in marketing expenses.

其销售、管理及行政（SG&A）开支从一年前的8,580万美元缩减了5%至8,970万美元。下降的主要原因是外部法律和人员费用增加，部分被营销费用的减少所抵消。

As of March 31, 10x had $377.1 million in cash and cash equivalents and $49.8 million in marketable securities.

截至3月31日，10x拥有3.771亿美元的现金及现金等价物和4980万美元的可出售证券。

For the second quarter, 10x expects revenues to be in a range of $138 million to $142 million, representing 1 percent sequential growth at the midpoint, excluding the impact of the one-time Q1 license and royalty revenue.

对于第二季度，10x预计收入将在1.38亿美元至1.42亿美元之间，中值较上一季度增长1%，不包括一次性第一季度许可和特许权收入的影响。

'We anticipate that the funding and macro environment will remain challenging, and that ordering patterns will continue to be impacted, particularly for instruments and larger consumable orders, as customers work through grant delays, program cancellations, and reprioritized budgets,' Taich told investors.

“我们预计，资金和宏观环境仍将充满挑战，订单模式将继续受到影响，尤其是仪器和较大额的耗材订单，因为客户正在应对拨款延迟、项目取消和预算重新分配的问题，”泰奇告诉投资者。

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During the call, Saxonov openly criticized current US policies while calling for an end to the attacks on US academic and government research institutions.

在通话中，萨克索诺夫公开批评了美国现行政策，同时呼吁停止对美国学术和政府研究机构的攻击。

'Our university system is the global engine of scientific discovery and the envy of the world; the NIH is the foundational jewel of biomedical progress. We should certainly endeavor to reform … but recent federal actions are not doing that. Instead, they are severely undermining these enterprises and run the risk of fundamentally dismantling their ability to support research, and that would be a tragedy,' Saxonov said.

“我们的大学系统是科学发现的全球引擎，令世界羡慕；国立卫生研究院（NIH）是生物医学进步的基石。我们当然应该努力进行改革……但最近的联邦行动并未做到这一点。相反，它们正在严重削弱这些机构，并有可能从根本上拆除它们支持研究的能力，那将是一场悲剧，”萨克索诺夫说道。

'My exhortation to those who are listening, let's not squander a great inheritance, let's work to defend and improve our greatest institutions.'.

“我恳请在座的各位，不要浪费了伟大的遗产，让我们努力捍卫并改进我们最伟大的制度。”

In light of the company's Q1 results and future outlook, investment bank JP Morgan on Friday lowered its price target for 10x's shares from $12 to $9.

鉴于该公司第一季度的业绩和未来前景，投资银行摩根大通周五将其对10x股票的价格目标从12美元下调至9美元。

'[W]hile we are constructive on 10x's positioning in single-cell and spatial as evidenced by the solid consumables growth in a challenging market, the limited visibility in US academic and government spending gives us pause, as does the impact of the recent commercial reorg on Xenium placement improvement,' JP Morgan analyst Rachel Vatnsdal wrote in a research note to investors..

摩根大通分析师雷切尔·瓦特恩斯达尔在给投资者的研究报告中写道：“尽管我们对10x公司在单细胞和空间领域的定位持建设性态度，这从其在艰难市场环境中的稳定耗材增长可见一斑，但美国学术和政府支出的有限可见性令我们感到担忧，最近的商业重组对Xenium设备部署改进的影响亦是如此。”

In morning trading on the Nasdaq, 10x Genomics' shares were up 5 percent at $9.05.

在纳斯达克早盘交易中，10x Genomics的股价上涨了5%，达到9.05美元。