2019 Q4 Form 10-K Financial Statement

#000119312520052640 Filed on February 27, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q2
Revenue $75.29M $61.21M $55.82M
YoY Change 48.93% 67.2% 75.84%
Cost Of Revenue $16.60M $15.48M $15.01M
YoY Change 11.41% 195.36% 226.22%
Gross Profit $58.71M $45.73M $40.81M
YoY Change 64.66% 45.79% 50.08%
Gross Profit Margin 77.98% 74.71% 73.12%
Selling, General & Admin $38.80M $32.61M $32.57M
YoY Change 44.24% 70.66% 53.64%
% of Gross Profit 66.09% 71.32% 79.81%
Research & Development $27.90M $22.21M $18.03M
YoY Change -47.46% 100.35% 58.19%
% of Gross Profit 47.52% 48.57% 44.19%
Depreciation & Amortization $2.850M $2.040M $2.180M
YoY Change 220.22% 140.0% 0.46%
% of Gross Profit 4.85% 4.46% 5.34%
Operating Expenses $66.80M $54.82M $51.18M
YoY Change -39.6% 18.41% 56.98%
Operating Profit -$8.093M -$9.096M -$10.36M
YoY Change -89.2% -39.09% 91.68%
Interest Expense $800.0K $708.0K $695.0K
YoY Change -300.0% 7.44% -331.67%
% of Operating Profit
Other Income/Expense, Net $200.0K -$499.0K -$448.0K
YoY Change -300.0% 26.01% 124.0%
Pretax Income -$7.000M -$9.595M -$10.81M
YoY Change -90.73% -37.41% 83.22%
Income Tax $100.0K $8.000K $100.0K
% Of Pretax Income
Net Earnings -$7.134M -$9.603M -$10.88M
YoY Change -90.55% -37.42% 83.66%
Net Earnings / Revenue -9.48% -15.69% -19.49%
Basic Earnings Per Share
Diluted Earnings Per Share -$73.96K -$99.90K -$116.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $424.2M $427.4M $56.00M
YoY Change
Cash & Equivalents $424.2M $427.4M $61.04M
Short-Term Investments
Other Short-Term Assets $8.000M $7.300M $4.100M
YoY Change
Inventory $15.27M $13.31M $12.30M
Prepaid Expenses
Receivables $33.37M $26.15M $26.80M
Other Receivables $0.00 $0.00 $7.900M
Total Short-Term Assets $480.8M $474.1M $107.2M
YoY Change 352.61%
LONG-TERM ASSETS
Property, Plant & Equipment $48.82M $46.84M $38.30M
YoY Change 338.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.94M $1.778M $10.00M
YoY Change 1134.4%
Total Long-Term Assets $125.1M $98.67M $48.40M
YoY Change 592.06%
TOTAL ASSETS
Total Short-Term Assets $480.8M $474.1M $107.2M
Total Long-Term Assets $125.1M $98.67M $48.40M
Total Assets $605.9M $572.8M $155.6M
YoY Change 387.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.03M $11.96M $9.400M
YoY Change 48.18%
Accrued Expenses $30.00M $19.50M $20.50M
YoY Change
Deferred Revenue $3.297M $3.082M
YoY Change 37.66%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.882M $7.383M $4.900M
YoY Change 136.02%
Total Short-Term Liabilities $63.05M $48.24M $43.20M
YoY Change 94.82%
LONG-TERM LIABILITIES
Long-Term Debt $19.84M $22.31M $24.80M
YoY Change -22.17%
Other Long-Term Liabilities $1.925M $951.0K $72.30M
YoY Change 149.68%
Total Long-Term Liabilities $21.76M $23.26M $97.10M
YoY Change -17.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.05M $48.24M $43.20M
Total Long-Term Liabilities $21.76M $23.26M $97.10M
Total Liabilities $185.8M $151.4M $140.3M
YoY Change 83.9%
SHAREHOLDERS EQUITY
Retained Earnings -$262.4M -$255.2M
YoY Change 13.52%
Common Stock $682.5M $676.8M
YoY Change 6012.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $420.1M $421.4M -$227.9M
YoY Change
Total Liabilities & Shareholders Equity $605.9M $572.8M $155.6M
YoY Change 387.43%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$7.134M -$9.603M -$10.88M
YoY Change -90.55% -37.42% 83.66%
Depreciation, Depletion And Amortization $2.850M $2.040M $2.180M
YoY Change 220.22% 140.0% 0.46%
Cash From Operating Activities $6.700M $14.53M $13.40M
YoY Change -113.14% -380.5% -166.24%
INVESTING ACTIVITIES
Capital Expenditures -$6.580M -$13.68M -$22.51M
YoY Change 132.51% 2106.45% 590.49%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$6.580M -$13.68M -$22.51M
YoY Change 132.51% 2106.45% 590.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.110M 415.6M 60.00K
YoY Change -103.09% 101275.61% -99.91%
NET CHANGE
Cash From Operating Activities 6.700M 14.53M 13.40M
Cash From Investing Activities -6.580M -13.68M -22.51M
Cash From Financing Activities -1.110M 415.6M 60.00K
Net Change In Cash -990.0K 416.5M -9.050M
YoY Change -94.48% -7827.09% -119.85%
FREE CASH FLOW
Cash From Operating Activities $6.700M $14.53M $13.40M
Capital Expenditures -$6.580M -$13.68M -$22.51M
Free Cash Flow $13.28M $28.21M $35.91M
YoY Change -127.57% -718.64% -311.61%

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CY2018Q4 txg Accrued Commissions Current
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CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2019 dei Document Type
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10-K
CY2019 dei Amendment Flag
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false
CY2019 dei Document Period End Date
DocumentPeriodEndDate
2019-12-31
CY2019 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
CY2019 dei Document Fiscal Period Focus
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FY
CY2019 dei Current Fiscal Year End Date
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--12-31
CY2019 dei Entity Registrant Name
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10x Genomics, Inc.
CY2019 dei Entity Central Index Key
EntityCentralIndexKey
0001770787
CY2019 dei Security12b Title
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Class A common stock
CY2019 dei Security Exchange Name
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NASDAQ
CY2019 dei Entity Small Business
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false
CY2019 dei Entity Emerging Growth Company
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CY2019 dei Entity Incorporation Date Of Incorporation
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CY2019 us-gaap Use Of Estimates
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<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent liabilities, and the reported amounts of revenue and expense. These judgments, estimates and assumptions are used for, but not limited to, revenue recognition, inventory valuation and write-downs, loss contingencies, accounting for assets acquisitions and the valuation of stock-based compensation awards. The Company bases its estimates on various factors and information, which may include, but are not limited to, history and prior experience, the Company&#8217;s forecasts and future plans, current economic conditions and information from third-party professionals that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities and recorded amounts of expenses that are not readily apparent from other sources. To the extent there are material differences between the Company&#8217;s estimates and the actual results, the Company&#8217;s future consolidated results of operation may be affected. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2019 us-gaap Default Longterm Debt Description Of Violation Or Event Of Default
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Immediately upon the occurrence and during the continuance of an event of default, including the noncompliance with the above covenants, the lender may increase the interest rate per annum by 5.0% above the rate that would be otherwise applicable; stop future loan advances; require the Company to deposit 105% of any undrawn letters of credit, or 110% if the letter of credit was denominated in a foreign currency; and take control over all assets collateralizing the loan and take necessary means to protect the collateral.
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FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1630000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1625000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1563000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1532000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1503000
CY2019Q4 txg Finitelived Intangible Assets Amortization Expense Year Six
FinitelivedIntangibleAssetsAmortizationExpenseYearSix
1500000
CY2019Q4 txg Finitelived Intangible Assets Amortization Expense After Year Six
FinitelivedIntangibleAssetsAmortizationExpenseAfterYearSix
13013000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
67876000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25210000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
19055000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14083000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3497000
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2250000
CY2019Q4 txg Long Term Debt Maturities Repayments In Year Three
LongTermDebtMaturitiesRepaymentsInYearThree
12170000
CY2019Q4 txg Long Term Debt Maturities Repayments Due
LongTermDebtMaturitiesRepaymentsDue
34969000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
72979000
CY2019Q4 us-gaap Contractual Obligation
ContractualObligation
4200000
CY2019Q4 txg Long Term Debt Maturities Repayments Next Twelve Months
LongTermDebtMaturitiesRepaymentsNextTwelveMonths
11744000
CY2019Q4 txg Long Term Debt Maturities Repayments In Year Two
LongTermDebtMaturitiesRepaymentsInYearTwo
11055000
CY2019Q4 txg Long Term Debt Maturity Repayment Of Interest Expense
LongTermDebtMaturityRepaymentOfInterestExpense
4969000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
281000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
29719000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
9882000
CY2013Q4 txg Operating Loss Carryforwards Limitation Amount
OperatingLossCarryforwardsLimitationAmount
4800000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-96431000
CY2017 txg Adjustments To Additional Paid In Capital Vesting Of Shares Including Early Exercise Of Options
AdjustmentsToAdditionalPaidInCapitalVestingOfSharesIncludingEarlyExerciseOfOptions
112000
CY2017 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1661000
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-15000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-112509000
CY2018 txg Adjustments To Additional Paid In Capital Vesting Of Shares Including Early Exercise Of Options
AdjustmentsToAdditionalPaidInCapitalVestingOfSharesIncludingEarlyExerciseOfOptions
256000
CY2018 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
150000
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2658000
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-22000
CY2019 txg Adjustments To Additional Paid In Capital Vesting Of Shares Including Early Exercise Of Options
AdjustmentsToAdditionalPaidInCapitalVestingOfSharesIncludingEarlyExerciseOfOptions
494000
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13333000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-9000
CY2019 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of Class&#160;B common stock has the right to ten votes and each share of Class&#160;A common stock has the right to one vote per share.
CY2019Q4 txg Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets And Liabilities Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherAssetsAndLiabilitiesNet
1237000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
38561000
CY2019 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6800000
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3500000
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
6247000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
7581000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
6794000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
6947000
CY2019Q4 txg Operating Leases Future Minimum Payments Due After Year Four
OperatingLeasesFutureMinimumPaymentsDueAfterYearFour
45410000
CY2019 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2019 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2019Q2 dei Entity Public Float
EntityPublicFloat
0
CY2019 dei Entity File Number
EntityFileNumber
001-39035
CY2019 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2019 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
45-5614458
CY2019 dei Entity Address Address Line1
EntityAddressAddressLine1
6230 Stoneridge Mall Road
CY2019 dei Entity Address Address Line2
EntityAddressAddressLine2
Pleasanton
CY2019 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94588
CY2019 dei City Area Code
CityAreaCode
925
CY2019 dei Local Phone Number
LocalPhoneNumber
401-7300
CY2019 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2019 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2019 dei Document Annual Report
DocumentAnnualReport
true
CY2019 dei Document Transition Report
DocumentTransitionReport
false
CY2018Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.00001
CY2019 txg Operating Loss Carry Forwards Expiration Year
OperatingLossCarryForwardsExpirationYear
2032
CY2019 us-gaap Tax Credit Carryforward Limitations On Use
TaxCreditCarryforwardLimitationsOnUse
50 percentage
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2019Q4 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
22100000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4946000
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
460000
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
7000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0
CY2019 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
The Company generally provides&#160;a&#160;one-year&#160;warranty on its instruments.
CY2019Q4 txg Accrued Legal Expenses Current
AccruedLegalExpensesCurrent
4375000
CY2018Q4 txg Accrued Legal Expenses Current
AccruedLegalExpensesCurrent
1769000
CY2019Q4 txg Accrued License Fees Current
AccruedLicenseFeesCurrent
6183000
CY2019Q4 txg Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
3885000
CY2018Q4 txg Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
990000
CY2019 txg Contract With Customer Liability Increase Excluding Revenue Recognized
ContractWithCustomerLiabilityIncreaseExcludingRevenueRecognized
2884000
CY2019 dei Trading Symbol
TradingSymbol
TXG

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