
	September 30, 2025								December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Fair Value Measurement
Cash equivalents:
Money market funds	$	399,256	$	—	$	—	$	399,256	$	322,012	$	—	$	—	$	322,012	Level 1
Marketable securities:

Government debt securities	49,576		3		(3)		49,576		49,317		18		—		49,335		Level 2

Total available-for-sale securities	$	448,832	$	3	$	(3)	$	448,832	$	371,329	$	18	$	—	$	371,347

The available-for-sale debt securities are subject to a periodic impairment review. For investments in an unrealized loss position, the Company determines whether a credit loss exists by considering information about the collectability of the instrument, current market conditions and reasonable and supportable forecasts of economic conditions. The Company recognizes an allowance for credit losses, up to the amount of the unrealized loss when appropriate, and writes down the amortized cost basis of the investment if it is more likely than not that the Company will be required or will intend to sell the investment before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in “Other income (expense), net,” and unrealized losses not related to credit losses are recognized in “Accumulated other comprehensive income (loss).” There are no allowances for credit losses for the periods presented.


	September 30, 2025		December 31, 2024
Land	$	36,765	$	36,765
Building	147,493		147,094
Laboratory equipment and machinery	77,145		72,498
Computer equipment and software	15,195		14,953
Furniture and fixtures	9,848		9,586
Leasehold improvements	89,370		89,567
Construction in progress	2,527		5,152
Total property and equipment	378,343		375,615
Less: accumulated depreciation and amortization	(145,809)		(122,967)
Property and equipment, net	$	232,534	$	252,648


	September 30, 2025							December 31, 2024
	Remaining Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Intangibles, Net		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Technology licenses	9.0	$	22,504	$	(9,124)	$	13,380	$	22,504	$	(8,016)	$	14,488
Developed technology	6.3	52,639		(1,326)		51,313		1,000		(92)		908
Customer relationships	0.2	945		(940)		5		945		(918)		27
Assembled workforce	0.7	1,328		(1,267)		61		1,328		(1,080)		248
Intangible assets, net		$	77,416	$	(12,657)	$	64,759	$	25,777	$	(10,106)	$	15,671

During the three months ended September 30, 2025, the Company recorded developed technology of $51.6 million and assembled workforce of $0.7 million in connection with the Scale acquisition. Subsequently, the Company recorded an impairment charge of $0.7 million related to the assembled workforce during the same period. The amortization of developed technology is recorded in cost of revenue. See Note 3, Asset Acquisition, for details related to intangibles acquired.


	September 30, 2025		December 31, 2024
Accrued payroll and related costs	$	6,420	$	2,970
Accrued bonus	22,495		21,859
Accrued commissions	3,779		5,938

Other	4,390		2,848
Accrued compensation and related benefits	$	37,084	$	33,615


	September 30, 2025		December 31, 2024

Legal and related costs	$	3,811	$	6,100


Royalties for licensed technologies	4,527		7,042

Professional services	2,765		5,315
Product warranties	6,685		8,615
Taxes payable	5,587		4,936
Other	12,391		9,157
Accrued expenses and other current liabilities	$	35,766	$	41,165

As of September 30, 2025, the aggregate amount of remaining performance obligations related to separately sold extended warranty service agreements or allocated amounts for extended warranty service agreements bundled with sales of instruments was $33.0 million, of which approximately $22.1 million is expected to be recognized to revenue in the next 12 months, with the

remainder thereafter. The contract liabilities of $33.0 million and $33.2 million as of September 30, 2025 and December 31, 2024, respectively, consisted of deferred revenue related to extended warranty service agreements.

The following table represents revenue by source for the periods indicated (in thousands). Chromium products include the Company’s single cell products and spatial products include the Company’s Visium and Xenium products:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Instruments
Chromium	$	4,927	$	7,641	$	16,567	$	24,283
Spatial	7,072		11,415		24,744		44,078
Total instruments revenue	11,999		19,056		41,311		68,361
Consumables
Chromium	92,519		96,536		262,416		274,571
Spatial	35,373		29,668		103,017		85,330
Total consumables revenue	127,892		126,204		365,433		359,901
Services	8,128		6,299		24,255		17,292
Products and services revenue	148,019		151,559		430,999		445,554
License and royalty revenue	983		95		45,794		210
Total revenue	$	149,002	$	151,654	$	476,793	$	445,764


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Americas
United States(1)	$	77,246	$	84,723	$	267,555	$	250,032
Americas (excluding United States)	2,625		3,099		9,044		10,511
Total Americas	79,871		87,822		276,599		260,543
Europe, Middle East and Africa	41,624		37,851		108,253		109,934
Asia-Pacific
China	15,189		15,030		55,242		42,692
Asia-Pacific (excluding China)	12,318		10,951		36,699		32,595
Total Asia-Pacific	27,507		25,981		91,941		75,287
Total revenue	$	149,002	$	151,654	$	476,793	$	445,764

In February 2025, the Company settled its worldwide patent litigation with Vizgen, Inc. As part of that settlement, Vizgen has limited rights to certain intellectual property owned or exclusively licensed by the Company. As one part of the settlement, the Company received an upfront payment of $26.0 million and will receive royalties on Vizgen’s sales of products covered by the

license. The $26.0 million upfront payment was recorded as a $9.2 million gain on settlement and $16.8 million of license and royalty revenue. The amount attributed to the gain on settlement was determined by applying a royalty rate to the Vizgen historical revenues prior to the settlement.

In May 2025, the Company entered into a settlement agreement and license agreements with Bruker Corporation resolving all outstanding litigation and other proceedings between the parties across all jurisdictions around the world. Under the agreements, the Company has the right to receive four quarterly installment payments beginning in the third quarter of 2025, which total $68.0 million, and applicable interest. The Company will also receive royalties on Bruker’s sales of products and services covered by the license. The $68.0 million was recorded as a $40.7 million gain on settlement and $27.3 million of license and royalty revenue. The amount attributed to the gain on settlement was determined by applying a royalty rate to the historical revenues prior to the settlement. As of September 30, 2025, the Company had received one quarterly payment, and the remaining balance was recognized under other receivables which is presented separately on the Company’s condensed consolidated balance sheets.

Gains or losses from foreign currency remeasurement are included in “Other income (expense), net” in the condensed consolidated statements of operations. The Company recognized foreign currency transaction loss of $0.6 million for the three months ended September 30, 2025, and foreign currency transaction income of $3.1 million for the nine months ended September 30, 2025. The Company recognized foreign currency transaction income of $1.3 million and $0.3 million for the three and nine months ended September 30, 2024, respectively.

The change in fair value of contingent consideration are included in “Other income (expense), net” in the condensed consolidated statements of operations. The company recognized the $1.1 million loss due to change in fair value of contingent consideration for the three and nine months ended September 30, 2025.