10x Genomics, Inc.

10x Genomics sells primarily to research organizations that need standardized, high-throughput workflows for single cell and spatial biology experiments. The largest portion of direct sales comes from academic and government institutions, where purchasing decisions are often made by principal investigators, core facility directors, and lab leadership. Biopharmaceutical and biotechnology companies are another major segment, using the platforms for translational research, target discovery, and biomarker work, and management expects this segment to grow in mix over time. Customers typically buy an instrument upfront and then repeatedly purchase proprietary consumables per experiment, creating recurring revenue tied to utilization. The company also sells through distributors in certain regions, but no single customer has represented more than 10% of revenue in recent periods.

The company’s strategy emphasizes continued investment in new solutions and new versions of existing products to expand the addressable biology questions its platforms can answer. It aims to deepen penetration in its existing customer base—especially academic/government labs—while increasing adoption in biopharma, where larger budgets and translational use cases can support higher utilization. 10x Genomics also uses targeted acquisitions or in-licensing to add enabling technologies and accelerate product commercialization, accepting that near-term spending can pressure results while building long-term growth. Commercial execution is supported by a specialized direct sales force in North America and parts of Europe, complemented by distributors in regions where direct coverage is less efficient.