Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 25, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | OSUR | ||
Entity Registrant Name | ORASURE TECHNOLOGIES, INC | ||
Entity Central Index Key | 0001116463 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Shell Company | false | ||
Entity File Number | 001-16537 | ||
Entity Tax Identification Number | 36-4370966 | ||
Entity Address, Address Line One | 220 East First Street | ||
Entity Address, City or Town | Bethlehem | ||
Entity Address, State or Province | PA | ||
Entity Address, Postal Zip Code | 18015 | ||
City Area Code | 610 | ||
Local Phone Number | 882-1820 | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Document Annual Report | true | ||
ICFR Auditor Attestation Flag | true | ||
Title of 12(b) Security | Common Stock, $0.000001 par value per share | ||
Security Exchange Name | NASDAQ | ||
Entity Incorporation, State or Country Code | DE | ||
Document Transition Report | false | ||
Entity Interactive Data Current | Yes | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Common Stock, Shares Outstanding | 72,304,792 | ||
Entity Public Float | $ 727,984,802 | ||
Documents Incorporated by Reference | Documents Incorporated by Reference: Part III of this Annual Report on Form 10-K will be incorporated by reference from certain portions of the Registrant's definitive Proxy Statement for its 2022 Annual Meeting of Shareholders, or will be included in an amendment hereto, to be filed not later than 120 days after the close of the fiscal year ended December 31, 2021. Except with respect to information specifically incorporated by reference in the Annual Report on From 10-K, the Proxy Statement is not deemed to be filed as part hereof. | ||
Auditor Name | KPMG LLP | ||
Auditor Location | Philadelphia, PA | ||
Auditor Firm ID | 185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 116,762 | $ 160,802 |
Short-term investments | 36,279 | 48,599 |
Accounts receivable, net of allowance for doubtful accounts of $3,418 and $3,654 | 45,323 | 38,835 |
Inventories | 53,138 | 31,863 |
Prepaid expenses | 7,939 | 3,860 |
Other current assets | 28,990 | 4,934 |
Total current assets | 288,431 | 288,893 |
Noncurrent Assets: | ||
Property, plant and equipment, net | 88,164 | 51,860 |
Operating right-of-use assets, net | 9,056 | 4,461 |
Finance right-of-use assets, net | 2,493 | 1,312 |
Intangible assets, net | 14,343 | 17,904 |
Goodwill | 40,279 | 40,351 |
Long-term investments | 17,009 | 47,718 |
Other noncurrent assets | 1,215 | 1,973 |
Total noncurrent assets | 172,559 | 165,579 |
TOTAL ASSETS | 460,990 | 454,472 |
Current Liabilities: | ||
Accounts payable | 28,024 | 17,407 |
Deferred revenue | 2,936 | 4,811 |
Accrued expenses and other current liabilities | 33,778 | 22,227 |
Finance lease liability | 939 | 517 |
Operating lease liability | 2,181 | 1,125 |
Acquisition-related contingent consideration obligation | 206 | 402 |
Total current liabilities | 68,064 | 46,489 |
Noncurrent Liabilities: | ||
Finance lease liability | 1,952 | 895 |
Operating lease liability | 7,202 | 3,591 |
Acquisition-related contingent consideration obligation | 354 | 2,049 |
Other noncurrent liabilities | 651 | 1,682 |
Deferred income taxes | 2,234 | 1,195 |
Total noncurrent liabilities | 12,393 | 9,412 |
TOTAL LIABILITIES | 80,457 | 55,901 |
COMMITMENTS AND CONTINGENCIES (Note 15) | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock, par value $.000001, 25,000 shares authorized, none issued | ||
Common stock, par value $.000001, 120,000 shares authorized, 72,069 and 71,738 shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 511,063 | 505,123 |
Accumulated other comprehensive loss | (10,077) | (9,097) |
Accumulated deficit | (120,453) | (97,455) |
Total stockholders' equity | 380,533 | 398,571 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 460,990 | $ 454,472 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 3,418 | $ 3,654 |
Preferred stock, par value | $ 0.000001 | $ 0.000001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.000001 | $ 0.000001 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares issued | 72,069,000 | 71,738,000 |
Common stock, shares outstanding | 72,069,000 | 71,738,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
NET REVENUES: | |||
Total revenue | $ 233,674 | $ 171,721 | $ 154,605 |
COST OF PRODUCTS AND SERVICES SOLD | 116,074 | 69,853 | 60,022 |
Gross profit | 117,600 | 101,868 | 94,583 |
OPERATING EXPENSES: | |||
Research and development | 34,170 | 31,032 | 19,629 |
Sales and marketing | 44,751 | 34,459 | 31,869 |
General and administrative | 50,328 | 42,653 | 35,287 |
Change in the estimated fair value of acquisition-related contingent consideration | (1,485) | (1,099) | (664) |
Gain on sale of business | (10,149) | ||
Total operating expenses | 127,764 | 107,045 | 75,972 |
Operating income (loss) | (10,164) | (5,177) | 18,611 |
OTHER INCOME | 872 | 1,653 | 2,720 |
Income (loss) before income taxes | (9,292) | (3,524) | 21,331 |
INCOME TAX EXPENSE | 13,706 | 11,398 | 4,675 |
NET INCOME (LOSS) | $ (22,998) | $ (14,922) | $ 16,656 |
INCOME (LOSS) PER SHARE: | |||
BASIC | $ (0.32) | $ (0.22) | $ 0.27 |
DILUTED | $ (0.32) | $ (0.22) | $ 0.27 |
SHARES USED IN COMPUTING INCOME (LOSS) PER SHARE: | |||
BASIC | 71,981 | 67,505 | 61,675 |
DILUTED | 71,981 | 67,505 | 62,170 |
Products and Services [Member] | |||
NET REVENUES: | |||
Total revenue | $ 226,897 | $ 166,381 | $ 148,073 |
Other Revenues [Member] | |||
NET REVENUES: | |||
Total revenue | $ 6,777 | $ 5,340 | $ 6,532 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
NET INCOME (LOSS) | $ (22,998) | $ (14,922) | $ 16,656 |
OTHER COMPREHENSIVE INCOME (LOSS) | |||
Currency translation adjustments | (894) | 3,273 | 5,767 |
Unrealized gain (loss) on marketable securities | (86) | (234) | 803 |
COMPREHENSIVE INCOME (LOSS) | $ (23,978) | $ (11,883) | $ 23,226 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
Beginning Balance at Dec. 31, 2018 | $ 283,378 | $ 401,273 | $ (18,706) | $ (99,189) | |
Beginning Balance, Shares at Dec. 31, 2018 | 61,276 | ||||
Common stock issued upon exercise of options | 196 | 196 | |||
Common stock issued upon exercise of options, Shares | 27 | ||||
Vesting of restricted stock, Shares | 717 | ||||
Purchase and retirement of common shares | (3,712) | (3,712) | |||
Purchase and retirement of common shares, Shares | (289) | ||||
Stock-based compensation | 4,057 | 4,057 | |||
NET INCOME (LOSS) | 16,656 | 16,656 | |||
Currency translation adjustments | 5,767 | 5,767 | |||
Unrealized gain (loss) on marketable securities | 803 | 803 | |||
Ending Balance at Dec. 31, 2019 | 307,145 | 401,814 | (12,136) | (82,533) | |
Ending Balance, Shares at Dec. 31, 2019 | 61,731 | ||||
Common stock issued upon exercise of options | 3,222 | 3,222 | |||
Common stock issued upon exercise of options, Shares | 402 | ||||
Vesting of restricted stock and performance stock units, Shares | 653 | ||||
Purchase and retirement of common shares | (2,088) | (2,088) | |||
Purchase and retirement of common shares, Shares | (248) | ||||
Issuance of common stock in connection with public offering, net of commissions and expenses of $6,200 | 95,036 | 95,036 | |||
Issuance of common stock in connection with public offering, net of commissions and expenses of $6,200, Shares | 9,200 | ||||
Stock-based compensation | 7,139 | 7,139 | |||
NET INCOME (LOSS) | (14,922) | (14,922) | |||
Currency translation adjustments | 3,273 | 3,273 | |||
Unrealized gain (loss) on marketable securities | (234) | (234) | |||
Ending Balance at Dec. 31, 2020 | 398,571 | 505,123 | (9,097) | (97,455) | |
Ending Balance, Shares at Dec. 31, 2020 | 71,738 | ||||
Common stock issued upon exercise of options | $ 246 | 246 | |||
Common stock issued upon exercise of options, Shares | 33 | 33 | |||
Vesting of restricted stock and performance stock units, Shares | 451 | ||||
Purchase and retirement of common shares | $ (2,113) | (2,113) | |||
Purchase and retirement of common shares, Shares | (153) | ||||
Stock-based compensation | 7,807 | 7,807 | |||
NET INCOME (LOSS) | (22,998) | (22,998) | |||
Currency translation adjustments | (894) | (894) | |||
Unrealized gain (loss) on marketable securities | (86) | (86) | |||
Ending Balance at Dec. 31, 2021 | $ 380,533 | $ 511,063 | $ (10,077) | $ (120,453) | |
Ending Balance, Shares at Dec. 31, 2021 | 72,069 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Statement of Stockholders' Equity [Abstract] | |
Issuance of common stock in connection with public offering, net of commissions and expenses | $ 6,200 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING ACTIVITIES: | |||
Net income (loss) | $ (22,998) | $ (14,922) | $ 16,656 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Stock-based compensation | 7,807 | 7,139 | 4,057 |
Depreciation and amortization | 11,658 | 9,387 | 7,339 |
Other non-cash amortization | 837 | 327 | 391 |
Provision for doubtful accounts | (253) | 941 | 2,248 |
Inventory reserve | 6,731 | 736 | (280) |
Unrealized foreign currency (gain) loss | (210) | 269 | 385 |
Interest expense on finance leases | 82 | 72 | 36 |
Deferred income taxes | 1,026 | (392) | (1,457) |
Loss on sale of fixed assets | 114 | 147 | |
Gain on sale of product line | (225) | ||
Gain on sale of business | (10,149) | ||
Change in fair value during the period | (1,485) | (1,099) | (664) |
Payment of acquisition related contingent consideration | (142) | (496) | |
Changes in assets and liabilities | |||
Accounts receivable | (6,451) | (2,324) | (2,210) |
Inventories | (27,941) | (9,343) | (1,044) |
Prepaid expenses and other assets | (8,674) | (104) | 200 |
Accounts payable | 3,234 | 7,379 | (1,537) |
Deferred revenue | (1,891) | 1,051 | (297) |
Accrued expenses and other liabilities | 3,288 | 7,297 | (4,017) |
Net cash (used in) provided by operating activities | (35,382) | 5,807 | 9,804 |
INVESTING ACTIVITIES: | |||
Purchases of investments | (25,822) | (90,137) | (92,173) |
Proceeds from maturities and redemptions of investments | 67,925 | 107,718 | 93,491 |
Purchases of property and equipment | (36,622) | (26,674) | (9,314) |
Purchase of property and equipment under government contracts | (11,495) | ||
Proceeds from funding under government contract | 531 | ||
Purchase of patent and product rights | (2,250) | ||
Acquisition of businesses, net of cash acquired | (3,037) | (23,801) | |
Proceeds from sale of business | 12,000 | ||
Other investing activities | (18) | 351 | |
Net cash used in investing activities | (5,501) | (14,029) | (19,797) |
FINANCING ACTIVITIES: | |||
Repayments of loans | (724) | ||
Cash payments for lease liability | (686) | (687) | (442) |
Issuance of common stock in connection with public offering, net | 95,036 | ||
Proceeds from exercise of stock options | 246 | 3,222 | 196 |
Payment of acquisition related contingent consideration | (264) | (3,004) | |
Repurchase of common stock | (2,113) | (2,088) | (3,712) |
Net cash (used in) provided by financing activities | (2,817) | 92,479 | (4,682) |
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH | (340) | 830 | 1,952 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (44,040) | 85,087 | (12,723) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 160,802 | 75,715 | 88,438 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 116,762 | $ 160,802 | $ 75,715 |
The Company
The Company | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company | 1. THE COMPANY: The overall goal of OraSure Technologies, Inc. (“OraSure” or “the Company”) is to empower the global community to improve health and wellness by providing access to accurate essential information. Our business consists of two segments: our “Diagnostics” segment, and our “Molecular Solutions” segment. Our Diagnostics business primarily consists of the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using our proprietary technologies, as well as other diagnostic products including immunoassays and other in vitro diagnostic tests that are used on other specimen types. The Diagnostics business includes tests for diseases including COVID-19, HIV and Hepatitis C that are performed on a rapid basis at the point of care and tests for drugs of abuse that are processed in a laboratory. These products are sold in the United States and internationally to various clinical laboratories, hospitals, clinics, community-based organizations, and other public health organizations, distributors, government agencies, physicians’ offices, and commercial and industrial entities. Our COVID-19 and HIV products are also sold in a consumer-friendly format in the over-the-counter (“OTC”) market in the U.S. and as a self-test to individuals in a number of other countries. Our Diagnostics business also includes the operations of UrSure, Inc. (“UrSure”), which was acquired and merged into OraSure in 2020. This part of the Diagnostics business develops and commercializes products that measure adherence to HIV medications including pre-exposure prophylaxis or PrEP, the daily medication to prevent HIV, and anti-retroviral medications to suppress HIV. These products include laboratory-based tests that can measure levels of the medications in a patient’s urine or blood, as well as point-of-care products currently in development. In 2020, we began developing a rapid antigen self-test for COVID-19 and a COVID-19 antibody enzyme-linked immunosorbent assay (“ELISA”) for use in laboratory settings. In June 2021, we received three Emergency Use Authorizations ("EUA") from the U.S. Food and Drug Administration ("FDA") for our InteliSwab ® COVID-19 Rapid Tests for non-prescription OTC, professional point-of-care (Clinical Laboratory Improvements Amendment of 1988, or "CLIA," waived) and prescription use. We began recording revenues on the sales of our InteliSwab ® COVID-19 Rapid Tests during the third quarter of 2021. Following discussions with the FDA and their de-prioritization of antibody testing in the U.S., we decided to no longer pursue an EUA for the ELISA antibody test. We have, however, continued to offer the product for research use to labs and other parties interested in COVID antibody surveillance and research applications. Our Molecular Solutions business is operated by our subsidiaries, DNA Genotek Inc. (“DNAG”), Diversigen, Inc. (“Diversigen”), and Novosanis NV (“Novosanis”). In our Molecular Solutions business, we manufacture and sell kits that are used to collect, stabilize, transport and store a biological sample of genetic material for molecular testing. Our products are used for academic research and commercial applications, including ancestry, disease risk management, lifestyle and animal testing. Three of our collection devices are used in connection with COVID-19 molecular testing. We also sell research-use-only collection products into the microbiome market. We offer our customers a suite of genomics and microbiome services that range from package customization and study design optimization to extraction, analysis and reporting services. The microbiome laboratory and bioinformatics services are provided by Diversigen, which includes the operations of CoreBiome, Inc. (“CoreBiome”), a subsidiary we acquired in early 2019. CoreBiome and Diversigen were merged together in 2020. Novosanis manufactures and sells the Colli-Pee® collection device for the volumetric collection of first-void urine for use in research, screening and diagnostics in the liquid biopsy and sexually transmitted infection markets. Our Molecular Solutions business serves customers in many countries worldwide, including many leading research universities and hospitals. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of OraSure Technologies, Inc. (“OraSure”) and its wholly-owned subsidiaries, DNAG, Diversigen, and Novosanis. All intercompany transactions and balances have been eliminated. References herein to “we,” “us,” “our,” or the “Company” mean OraSure and its consolidated subsidiaries, unless otherwise indicated. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions about future events. These estimates and underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the fair value of assets acquired and liabilities assumed for business combinations, the valuation of accounts receivable and inventories and assumptions utilized in impairment testing for intangible assets and goodwill, as well as calculations related to accruals, taxes, contingent consideration and performance-based compensation expense, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis, using historical experience and other factors, which management believes to be reasonable under the circumstances, including the current economic environment. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic environment and other factors will be reflected in the financial statements in those future periods. Employee Retention Credit In December 2021, we applied for the Employee Retention Credit for payroll taxes paid in the first and second quarters of 2021 as provided by the Coronavirus Aid, Relief and Economic Security Act . The amount due from the Internal Revenue Service of $ 5,728 is recorded in other current assets in our consolidated balance sheet as of December 31, 2021. The credit is reported in our consolidated statement of operations, for the year ended December 31, 2021, within cost of products and services sold, research and development, sales and marketing and general and administrative costs in the amounts of $ 2,536 , $ 1,134 , $ 924 , and $ 1,134 , respectively Supplemental Cash Flow Information In 2021, 2020 and 2019, we paid income taxes of $ 13,727 , $ 9,263 and $ 10,611 , respectively. In 2021, 2020 and 2019, we recorded through the consolidated statements of operations an increase (decrease) in our allowance for doubtful accounts of $( 253 ), $ 941 and $ 2,248 respectively. We had write-offs of $ 115 , $ 501 and $ 110 in 2021, 2020, and 2019, respectively. As of December 31, 2021, 2020 and 2019, we had accruals for purchases of property and equipment of $ 8,166 $ 802 , and $ 660 , respectively. Investments We consider all investments in debt securities to be available-for-sale securities. These securities are comprised of guaranteed investment certificates and corporate bonds with purchased maturities greater than ninety days. Available-for-sale securities are carried at fair value, based upon quoted market prices, with unrealized gains and losses, if any, reported in stockholders’ equity as a component of accumulated other comprehensive loss. We record an allowance for credit loss for our available-for-sale securities when a decline in investment market value is due to credit-related factors. When evaluating an investment for impairment, we review factors such as the severity of the impairment, changes in underlying credit ratings, forecasted recovery, the Company’s intent to sell or the likelihood that it would be required to sell the investment before its anticipated recovery in market value and the probability that the scheduled cash payments will continue to be made. During 2021, we recognized a provision for expected credit losses for our available-for-sale securities of $ 98 . The following is a summary of our available-for-sale securities as of December 31, 2021 and 2020: Amortized Gross Gross Fair Value December 31, 2021 Guaranteed investment certificates $ 33,249 $ — $ — $ 33,249 Corporate bonds 20,473 — ( 434 ) 20,039 Total available-for-sale securities $ 53,722 $ — $ ( 434 ) $ 53,288 December 31, 2020 Guaranteed investment certificates $ 25,132 $ — $ — $ 25,132 Corporate bonds 71,533 135 ( 483 ) 71,185 Total available-for-sale securities $ 96,665 $ 135 $ ( 483 ) $ 96,317 At December 31, 2021, maturities of our available-for-sale Less than one year $ 36,386 $ — $ ( 107 ) $ 36,279 Greater than one year $ 17,336 $ — $ ( 327 ) $ 17,009 Fair Value of Financial Instruments As of December 31, 2021 and 2020, the carrying values of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their respective fair values based on their short-term nature. Fair value measurements of all financial assets and liabilities that are being measured and reported on a fair value basis are required to be classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). All of our available-for-sale debt securities are measured as Level 2 instruments as of December 31, 2021 and 2020. Our guaranteed investment certificates are measured as Level 1 instruments as of December 31, 2021 and 2020. Included in cash and cash equivalents at December 31, 2021 and 2020, was $ 1,160 and $ 71,489 invested in government money market funds. These funds have investments in government securities and are measured as Level 1 instruments. We offer a nonqualified deferred compensation plan for certain eligible employees and members of our Board of Directors. The assets of the plan are held in the name of the Company at a third-party financial institution. Separate accounts are maintained for each participant to reflect the amounts deferred by the participant and all earnings and losses on those deferred amounts. The assets of the plan are held in mutual funds. The fair value of the plan assets as of December 31, 2021 and 2020 was $ 1,763 and $ 2,565 , respectively, and was calculated using the quoted market prices of the assets as of those dates. All investments in the plan are classified as trading securities and measured as Level 1 instruments. The fair value of plan assets is included in both current assets and other noncurrent assets with the same amounts included in accrued expenses and other noncurrent liabilities in the accompanying consolidated balance sheets. As further discussed in Note 3, Business Combinations, we have identified our contingent consideration obligations as Level 3 liabilities due to significant inputs that are required to measure the fair value of these obligations. The following table represents the change in contingent consideration: Balance as of January 1, 2019 $ — Addition related to acquisition (initial measurement) 4,350 Change in fair value during the period ( 664 ) Currency translation adjustment ( 74 ) Balance as of December 31, 2019 3,612 Addition related to acquisition (initial measurement) 3,440 Payments made during the period ( 3,500 ) Change in fair value during the period ( 1,099 ) Currency translation adjustment ( 2 ) Balance as of December 31, 2020 2,451 Payments made during the period ( 406 ) Change in fair value during the period ( 1,485 ) Balance as of December 31, 2021 $ 560 Accounts Receivable Accounts receivable have been reduced by an estimated allowance for amounts that may become uncollectible in the future. This estimated allowance is based primarily on management’s evaluation of specific balances as they become past due, the financial condition of our customers and our historical experience related to write-offs. Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis, and include the cost of raw materials, labor and overhead. The majority of our inventories are subject to expiration dating, which can be extended in certain circumstances. We continually evaluate quantities on hand and the carrying value of our inventories to determine the need for reserves for excess and obsolete inventories, based on prior experience as well as estimated forecasts of product sales. We reserve for unidentified scrap or spoilage based on historical write-off rates. We also consider items identified through specific identification procedures in assessing the adequacy of our reserve. When factors indicate that impairment has occurred, either a reserve is established against the inventories’ carrying value or the inventories are completely written off, as in the case of lapsing expiration dates. Property, Plant and Equipment Property, plant and equipment are stated at cost. Additions or improvements are capitalized, while repairs and maintenance are charged to expense. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets. Buildings are typically depreciated over twenty years , while computer equipment and software, machinery and equipment, and furniture and fixtures are depreciated over two to ten years . Building improvements are amortized over their estimated useful lives. When assets are sold, retired, or discarded, the related property amounts are relieved from the accounts, and any gain or loss is recorded in the consolidated statements of operations. Intangible Assets Intangible assets consist of customer relationships, patents and product rights, acquired technology and tradenames. Patents and product rights consist of costs associated with the acquisition of patents, licenses and product distribution rights. Intangible assets are amortized using the straight-line method over their estimated useful lives of five to fifteen years . Impairment of Long-Lived Assets Long-lived assets, which include property and equipment and definite-lived intangible assets, are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. We assess the recoverability of our long-lived assets by determining whether the carrying value of such assets can be recovered through the sum of the undiscounted future cash flows generated from the use and eventual disposition of the asset. If indicators of impairment exist, we measure the amount of such impairment by comparing the carrying value of the assets to the fair value of these assets, which is generally determined based on the present value of the expected future cash flows associated with the use of the assets. Expected future cash flows reflect our assumptions about selling prices, volumes, costs and market conditions over a reasonable period of time. Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is not amortized but rather is tested annually for impairment or more frequently if we believe that indicators of impairment exist. Current generally accepted accounting principles permit us to make a qualitative evaluation about the likelihood of goodwill impairment. If we conclude that it is more likely than not that the carrying value of a reporting unit is greater than its fair value, then we would be required to recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, provided the impairment charge does not exceed the total amount of goodwill allocated to the reporting unit. We performed our annual impairment assessment as of July 31, 2021 utilizing a qualitative evaluation and concluded that it was more likely than not that the fair value of our reporting units is greater than their carrying value. We believe we have made reasonable estimates and assumptions to calculate the fair value of our reporting units. If actual future results are not consistent with management’s estimates and assumptions, we may have to take an impairment charge in the future related to our goodwill. Future impairment tests will continue to be performed annually in the fiscal third quarter, or sooner if a triggering event occurs. Revenue Product sales . Revenue from product sales is recognized upon transfer of control of a product to a customer based on an amount that reflects the consideration we are entitled to, net of allowances for any discounts or rebates. We generally do not grant product return rights to our customers, except for warranty returns and return rights on sales of our OraQuick ® In-Home HIV test to the retail trade, and InteliSwab ® products to certain customers. Historically, returns arising from warranty issues have been infrequent and immaterial. Accordingly, we expense warranty returns as incurred. We record shipping and handling charges billed to our customers as product revenue and the related expense as cost of products sold. Service revenues. Service revenues represent microbiome laboratory testing and analytical services. We recognize revenues when we satisfy our performance obligations for services rendered. Arrangements with multiple-performance obligations . In arrangements involving more than one performance obligation, which largely applies to our service revenue stream, each required performance obligation is evaluated to determine whether it qualifies as a distinct performance obligation based on whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available and (ii) the good or services is separately identifiable from other promises in the contract. The consideration under the arrangement is then allocated to each separate distinct performance obligation based on their respective relative stand-alone selling price. The estimated selling price of each deliverable is determined using an observable cost plus margin approach. The consideration allocated to each distinct performance obligation is recognized as revenue when control is transferred for the related goods or services or when the performance obligation has been satisfied. Other revenues . Other revenues consist primarily of royalty income, funding of research and development efforts and cost reimbursements under a charitable support agreement. Royalties from licensees are based on third-party sales of licensed products and are recorded when the related third-party product sale occurs. Funding of research and development efforts and charitable support reimbursements are recorded as the activities are being performed in accordance with the respective agreements. Deferred Revenue. We record deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of December 31, 2021 and 2020 included customer prepayments of $ 1,843 and $ 3,216 , respectively. Deferred revenue as of December 31, 2021 and 2020 also included $ 1,093 and $ 1,595 , respectively, associated with a long-term contract that has variable pricing based on volume. The average price over the life of contract was determined based on expected revenues and revenue is recognized at that rate when the product is delivered to the customer. Financing and Payment . Our payment terms vary by the type and location of our customer and products or services offered. Payment terms differ by jurisdiction and customer but payment is generally required in a term ranging from 30 to 120 days from date of shipment or satisfaction of the performance obligation. For certain products or services and customer types, we may require payment before the products are delivered or services are rendered to the customer. Practical expedients and exemptions . Taxes assessed by governmental authorities, such as sales or value-added taxes, are excluded from product revenues. Sales commissions are expensed when incurred if the amortization period is one year or less. These costs are recorded in sales and marketing expense in the consolidated statements of operations. If the amortization period exceeds one year, we defer the cost of the commission and expense it over the life of the related sales contract. Revenues by product . The following table represents total net revenues by product line: Years ended December 31, 2021 2020 2019 Infectious disease testing $ 54,645 $ 54,227 $ 58,016 Risk assessment testing 9,678 9,194 12,189 Cryosurgical systems - - 7,054 Genomics (1) 63,350 36,878 56,200 Microbiome (1) 7,944 5,474 7,172 COVID-19 (1) 76,874 50,927 - Laboratory services 11,840 8,746 6,767 Other product and service revenues 2,566 935 675 Net product and services revenues 226,897 166,381 148,073 Royalty income 4,420 3,432 5,116 Other non-product revenues 2,357 1,908 1,416 Other revenues 6,777 5,340 6,532 Net revenues $ 233,674 $ 171,721 $ 154,605 (1) 2020 Genomics, Microbiome, and COVID-19 revenues were reclassified to reflect the correct classification of the product line sales. The reclassification increased (decreased) the product line revenues for the year ended December 31, 2020 by $( 263 ), $( 682 ), and $ 945 , respectively. Revenues by geographic area . The following table represents total net revenues by geographic area, based on the location of the customer: Years ended December 31, 2021 2020 2019 United States $ 188,383 $ 130,835 $ 107,279 Europe 13,799 12,068 11,752 Other regions 31,492 28,818 35,574 $ 233,674 $ 171,721 $ 154,605 Customer and Vendor Concentrations. We had no customers that accounted for more than 10% of our accounts receivable as of December 31, 2021. We had one customer that accounted for 11 % of our accounts receivable as of December 31, 2020. The same customer accounted for approximately 15 % of our net consolidated revenues for the year ended December 31, 2019. We had no customers that accounted for more than 10% of our consolidated net revenues for the years ended December 31, 2021 and 2020. We currently purchase certain products and critical components of our products from sole-supply vendors. If these vendors are unable or unwilling to supply the required components and products, we could be subject to increased costs and substantial delays in the delivery of our products to our customers. Third-party suppliers also manufacture certain products. Our inability to have a timely supply of any of these components and products could have a material adverse effect on our business, as well as our financial condition and results of operations. DNAG has three long-term contract manufacturing relationships to supply virtually all of its products, including the Oragene ® product line. Many of the raw materials and components used in these products are also purchased from third parties, some of which are purchased from a single source supplier. We are actively seeking to qualify other suppliers that can manufacture and supply the raw materials and components for the DNAG products. Business Combinations and Contingent Consideration Acquired businesses are accounted for using the acquisition method of accounting, which requires that the purchase price be allocated to the net assets acquired at their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Amounts allocated to contingent consideration are recorded to the balance sheet at the date of acquisition based on their relative fair values. The purchase price allocation requires us to make significant estimates and assumptions, especially at the acquisition date, with respect to intangible assets. Although we believe the assumptions and estimates we have made are reasonable, they are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain. We account for contingent consideration in accordance with applicable guidance provided within the business combination accounting standard. As part of our consideration for the recent acquisitions, we are contractually obligated to pay certain consideration resulting from the outcome of future events. Therefore, we are required to update our underlying assumptions each reporting period, based on new developments, and record such contingent consideration liabilities at fair value until the contingency is resolved. Changes in the fair value of the contingent consideration liabilities are recognized each reporting period and included in our consolidated statements of operations. Our estimates of fair value are based on assumptions we believe to be reasonable, but the assumptions are uncertain and involve significant judgment by management. Updates to these assumptions could have a significant impact on our results of operations in any given period and any updates to the fair value of the contingent consideration could differ materially from the previous estimates. Examples of critical estimates used in valuing certain intangible assets and contingent consideration include: • future expected cash flows from sales and acquired developed technologies; • the acquired company's trade name and customer relationships as well as assumptions about the period of time the acquired trade name and customer relationships will continue to be used in the combined company's portfolio; • the probability of meeting the future events; and • discount rates used to determine the present value of estimated future cash flows. These estimates are inherently uncertain and unpredictable, and if different estimates were used the purchase price for the acquisition could be allocated to the acquired assets and liabilities differently from the allocation that we have made. In addition, unanticipated events and circumstances may occur, which may affect the accuracy or validity of such estimates, and if such events occur we may be required to record a charge against the value ascribed to an acquired asset or an increase in the amounts recorded for assumed liabilities . Research and Development Research and development expenses consist of costs incurred in performing research and development activities, including salaries and benefits, facilities expenses, overhead expenses, clinical trial and related clinical manufacturing expenses, contract services and other outside expenses. Research and development costs are charged to expense as incurred. Advertising Expenses Advertising costs are charged to expense as incurred. During 2021, 2020, and 2019, we incurred $ 5,103 , $ 1,126 , and $ 468 , respectively, in advertising expenses. Stock-Based Compensation We account for stock-based compensation to employees and directors using the fair value method. We recognize compensation expense for stock option and restricted stock awards issued to employees and directors on a straight-line basis over the requisite service period of the award. We recognize compensation expense related to performance-based restricted stock units based on assumptions as to what percentage of each performance target will be achieved. We evaluate these target assumptions on a quarterly basis and adjust compensation expense related to these awards, as appropriate. To satisfy the exercise of options, issuance of restricted stock, or redemption of performance-based restricted stock units, we issue new shares rather than purchase shares in the open market. Income Taxes We follow the asset and liability method for accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax basis of assets and liabilities, as well as operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates for the respective taxing jurisdiction that are expected to apply to taxable income in the years in which those temporary differences and operating loss and credit carryforwards are expected to be recovered, settled or utilized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We assess the realizability of our net deferred tax assets on a quarterly basis. If, after considering all relevant positive and negative evidence, it is more likely than not that some portion or all of the net deferred tax assets will not be realized, we reduce our net deferred tax assets by a valuation allowance. The realization of the net deferred tax assets is dependent on several factors, including the generation of sufficient taxable income prior to the expiration of our net operating loss carryforwards. Foreign Currency Translation The assets and liabilities of our foreign operations are translated into U.S. dollars at current exchange rates as of the balance sheet date, and revenues and expenses are translated at average exchange rates for the period. Resulting translation adjustments are reflected in accumulated other comprehensive loss, which is a separate component of stockholders’ equity. Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than functional currency are included in our consolidated statements of operations in the period in which the change occurs. Net foreign exchange losses resulting from foreign currency transactions that are included in other income in our consolidated statements of operations were $( 667 ), $( 337 ), and $( 1,339 ) for the years ended December 31, 2021, 2020, and 2019, respectively. Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed in a manner similar to basic earnings (loss) per share except that the weighted-average number of shares outstanding is increased to include incremental shares from the assumed vesting or exercise of dilutive securities, such as common stock options, unvested restricted stock or performance stock units, unless the impact is antidilutive. The number of incremental shares is calculated by assuming that outstanding stock options were exercised and unvested restricted shares and performance stock units were vested, and the proceeds from such exercises or vesting were used to acquire shares of common stock at the average market price during the reporting period. Basic and dilutive computations of net loss per share are the same in periods in which a net loss exists as the dilutive effects of excluded items would be anti-dilutive . The computations of basic and diluted earnings (loss) per share are as follows: Years ended December 31, 2021 2020 2019 Net income (loss) $ ( 22,998 ) $ ( 14,922 ) $ 16,656 Weighted-average shares of common stock outstanding: Basic 71,981 67,505 61,675 Dilutive effect of stock options, restricted stock, and performance stock units — — 495 Diluted 71,981 67,505 62,170 Earnings (loss) per share: Basic $ ( 0.32 ) $ ( 0.22 ) $ 0.27 Diluted $ ( 0.32 ) $ ( 0.22 ) $ 0.27 For the years ended December 31, 2021 and 2020, outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 769 and 984 shares, respectively, were excluded from the computation of diluted loss per share. For the year ended December 31, 2019 outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 768 were excluded from the computation of diluted earnings per share as their inclusion would have been anti-dilutive. Accumulated Other Comprehensive Loss We classify items of other comprehensive income (loss) by their nature and disclose the accumulated balance of other comprehensive loss separately from accumulated deficit and additional paid-in capital in the stockholders’ equity section of our consolidated balance sheets. We have defined the Canadian dollar as the functional currency of our Canadian subsidiary, DNAG, and we have defined the Euro as the functional currency of our Belgian subsidiary, Novosanis. The results of operations are translated into U.S. dollars, which is the reporting currency of the Company. Accumulated other comprehensive loss at December 31, 2021 consists of $ 9,643 of currency translation adjustments and $ 434 of net unrealized losses on marketable securities, which represents the fair market value adjustment for our investments portfolio. Accumulated other comprehensive loss at December 31, 2020 consists of $ 8,749 of currency translation adjustments and $ 348 of net unrealized losses on marketable securities. Recent Accounting Pronouncements In November 2021, the Financial Accounting Standards Board ("FASB") issu ed Accounting Standards Update (“ASU”) No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, The purpose of this update is to improve transparency by requiring business entities to disclose information about certain types of government assistance they receive in their financial statements . Required disclosures include i) the nature of the transactions and related accounting policy used, ii) the financial statement line items affected and amounts thereof and iii) significant terms and conditions of the transactions. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, with early application permitted. We have adopted this guidance within this 2021 Form 10-K. See Note 5 for required disclosures. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Business Combinations | 3. BUSINESS COMBINATIONS UrSure On July 22, 2020, the Company acquired all of the outstanding stock of UrSure, Inc. (“UrSure”), pursuant to the terms of a merger agreement. The initial aggregate purchase price of this transaction was $ 3,000 , adjusted for certain transaction costs, indebtedness, and holdback amounts, and was funded with cash on hand. A portion of the purchase price was deposited into an escrow account for a limited period after closing, pursuant to indemnification obligations under the merger agreement. During the year ended December 31, 2020, we incurred a total of $ 393 of acquisition related costs, including accounting, legal, and other professional fees, all of which were expensed and reported as a component of general and administrative expense in the consolidated statement of operations for the year ended December 31, 2020. Pursuant to our acquisition agreement, we may pay up to an additional $ 28,000 of contingent consideration over the three years following the acquisition date based on the achievement of certain performance criteria as defined under the agreements, including generating certain revenue dollars, and the achievement of certain clinical milestones associated with the development of certain new technology. The Company, with the assistance of an independent valuation specialist, determined the estimated acquisition-date fair value of the acquisition-related contingent consideration of $ 3,440 . The fair value was determined using a probability-weighted model based on our assessment of the likelihood that the benchmarks will be achieved. The probability-weighted payments were then discounted using a discount rate based on an internal rate of return analysis using the probability-weighted cash flows. The fair value measurement was based on significant inputs, including the likelihood of the achievement of clinical milestones and revenue forecasts, not observable in the market and thus represents a Level 3 measurement within the fair value hierarchy. The following table represents the change in contingent consideration: Estimated fair value of contingent consideration as of acquisition date $ 3,440 Change in fair value during the period ( 989 ) Balance as of December 31, 2020 2,451 Payments made during the period ( 406 ) Change in fair value during the period ( 1,485 ) Balance as of December 31, 2021 $ 560 The change in fair value during the years ended December 31, 2021 and 2020 is a result of delays in achieving certain product development milestones and a decrease in associated revenue forecasts as result of these delays. Revenues from UrSure primarily consist of grant money received to fund the development of certain new technology. Effective as of July 22, 2020, the financial results of UrSure are included in our Diagnostics segment. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date: Assets Acquired Accounts receivable $ 285 Other current assets 24 Other assets 6 Intangibles 3,600 Goodwill 3,586 Total assets acquired 7,501 Liabilities Assumed Current liabilities 335 Deferred tax liability 689 Total liabilities assumed 1,024 Net Assets Acquired 6,477 Estimated fair value of contingent consideration ( 3,440 ) Net Cash Paid (net of cash acquired of $ 111 ) $ 3,037 The purchase price was allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based on their acquisition-date estimate fair values. The identifiable intangible assets principally included developed technology, which is subject to amortization on a straight-line basis and is being amortized over a ten year estimated useful life. The Company, with the assistance of an independent valuation specialist, assessed the fair value of the assets of UrSure. The income approach was used to value the acquired intangibles and the fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3 fair value measurements. The income approach estimates fair value for an asset based on the present value of cash flows projected to be generated by the asset. Projected cash flows are discounted at a required rate of return that reflects the relative risk of achieving the cash flows and the time value of money. The useful lives of the intangible assets were estimated based on the expected future economic benefit of the assets and are being amortized over the estimated useful life in proportion to the economic benefits consumed using the straight-line method. The amortization of intangible assets is not deductible for income tax purposes. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the future economic benefits that we expect to achieve as a result of the acquisition. We believe the goodwill related to the acquisition was a result of gaining a complementary product offering that will enable us to leverage those products with existing and new customers. The goodwill is not deductible for income tax purposes. All of the goodwill identified above has been allocated to our Diagnostics segment. We continue to evaluate the fair value of certain assets acquired and liabilities assumed, related to the acquisition. Additional information that existed as of the acquisition date, but was at that time unknown to us, may become known during the remainder of the measurement period. Changes to amounts recorded as a result of the final determination may result in a corresponding adjustment to these assets and liabilities, including goodwill. The determination of the estimated fair values of all assets acquired is expected to be completed within one year from the date of acquisition. Diversigen On November 8, 2019, the Company acquired all of the outstanding stock of Diversigen pursuant to the terms of a merger agreement. The aggregate purchase price for this transaction was $ 12,000 , adjusted for certain transaction costs, indebtedness, and holdback amounts, and was funded with cash on hand. A portion of the purchase price was deposited into an escrow account for a limited period after closing, pursuant to indemnification obligations under the merger agreement noted above. During the year ended December 31, 2019, we incurred a total of $ 1,198 of acquisition related costs, including investment banking fees and accounting, legal and other professional fees, all of which were expensed and reported as a component of general and administrative expenses in the consolidated statement of operations for the year ended December 31, 2019. Pursuant to the merger agreement, we were to pay up to an additional $ 1,500 of contingent consideration in 2020 based on the achievement of certain 2019 revenue metrics as defined under the agreements which did not occur. Revenues from Diversigen primarily consist of microbiome laboratory services that provide metagenomics sequencing, bioinformatics and statistical analysis for the study of the microbiome. Effective as of November 8, 2019, the financial results of Diversigen are included in our Molecular Solutions segment. The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date: Assets Acquired Accounts receivable $ 1,234 Other current assets 45 Property, plant, and equipment, net 1,916 Acquired intangible assets 3,560 Goodwill 6,317 Total assets acquired 13,072 Liabilities Assumed Current liabilities 1,123 Deferred tax liability 598 Other long-term liabilities 893 Total liabilities assumed 2,614 Net Assets Acquired 10,458 Estimated fair value of contingent consideration - Net Cash Paid (net of cash acquired of $ 479 ) $ 10,458 The purchase price was allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based on their acquisition-date estimate fair values. The identifiable intangible assets included customer relationships and tradenames, all of which are subject to amortization on a straight-line basis and are being amortized over estimated useful lives as summarized below: Estimated Useful Description Life (in years) Amount Customer relationships 10 2,900 Tradenames 9 660 Total acquired intangibles $ 3,560 The Company, with the assistance of an independent valuation specialist, assessed the fair value of the assets of Diversigen. The income approach was used to value the acquired intangibles and the fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3 fair value measurements. The income approach estimates fair value for an asset based on the present value of cash flows projected to be generated by the asset. Projected cash flows are discounted at a required rate of return that reflects the relative risk of achieving the cash flows and the time value of money. The useful lives of the intangible assets were estimated based on the expected future economic benefit of the assets and are being amortized over the estimated useful life in proportion to the economic benefits consumed using the straight-line method. The amortization of intangible assets is not deductible for income tax purposes. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the future economic benefits that we expect to achieve as a result of the acquisition. We believe the goodwill related to the acquisitions was a result of providing us a complementary service and product offering that will enable us to leverage those services and products with existing and new customers. The goodwill is not deductible for income tax purposes. All of the goodwill identified above has been allocated to our Molecular Solutions segment. CoreBiome and Novosanis On January 4, 2019, the Company acquired all of the outstanding stock of CoreBiome, pursuant to the terms of a merger agreement, dated January 3, 2019. CoreBiome has subsequently been merged into Diversigen in December 2020. Also on January 4, 2019, the Company, through a wholly-owned subsidiary, acquired all of the outstanding stock of Novosanis, pursuant to a share purchase agreement, dated January 3, 2019. We began operating these entities as of the January 4, 2019 closing date. The aggregate purchase price for both of these transactions was $ 13,320 adjusted for certain transaction costs, indebtedness, and holdback amounts, and was funded with cash on hand. A portion of the purchase price was deposited into escrow accounts for a limited period after closing, in order to secure the potential payment of certain indemnification obligations of the selling stockholders under each agreement noted above. During the year ended December 31, 2019, we incurred a total of $ 639 of acquisition-related costs in connection with these acquisitions, including success-based investment banking fees and accounting, legal and other professional fees, related to both acquisitions, all of which were expensed and reported as a component of general and administrative expenses in the consolidated statement of operation. Pursuant to our acquisition agreements, we were to pay up to an additional $ 32,400 of contingent consideration over three years based on the achievement of certain performance criteria as defined under the agreements, including generating certain revenue dollars, the achievement of a large customer contract, and the development of certain new technology. The Company, with the assistance of an independent valuation specialist, utilized a Monte Carlo simulation to determine the estimated acquisition-date fair value of the acquisition-related contingent consideration of $ 4,350 . The simulation calculated the probability-weighted payments based on our assessment of the likelihood that the benchmarks will be achieved. The probability-weighted payments were then discounted using a discount rate based on an internal rate of return analysis using the probability-weighted cash flows. The fair value measurement was based on significant inputs, including revenue forecasts, not observable in the market and thus represents a Level 3 measurement within the fair value hierarchy. The fair value of the contingent consideration obligation changed from $ 4,350 as of the acquisition date to $ 3,612 as of December 31, 2019. This change was a result of changes in our estimated revenue forecasts and an amendment to one of the agreements, entered into in October 2019, in which management agreed to settle the contingent consideration associated with one of the acquisition’s 2019 results for $ 3,500 . The fair value of the contingent consideration obligation changed from $ 3,612 as of December 31, 2019 to $ 0 as of December 31, 2020. This change is a result of a $ 3,500 payment made in the first quarter of 2020, changes in our estimated revenue forecasts and an amendment to one of the agreements. Revenues from CoreBiome primarily consist of microbiome laboratory services that utilize optimal analytical algorithms to deliver speed and scalability in the lab with precise analytics. Revenues from Novosanis primarily consist of the sale of its Colli-Pee collection device which was designed for the standard collection of first-void urine used in the liquid biopsy and sexually transmitted infection screening market. Effective as of January 4, 2019, the financial results of CoreBiome and Novosanis are included in our Molecular Solutions segment. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date: Assets Acquired Accounts receivable $ 791 Inventories 310 Other current assets 82 Property, plant, and equipment, net 414 Other assets 5 Acquired intangible assets 8,400 Goodwill 10,368 Total assets acquired 20,370 Liabilities Assumed Current liabilities 1,180 Notes payable, short-term 730 Deferred tax liability 819 Other long-term liabilities 74 Total liabilities assumed 2,803 Net Assets Acquired 17,567 Estimated fair value of contingent consideration ( 4,350 ) Net Cash Paid (net of cash acquired of $ 103 ) $ 13,217 The purchase price was allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based on their acquisition-date estimate fair values. The identifiable intangible assets principally included developed technology, customer relationships, and tradenames, all of which are subject to amortization on a straight-line basis and are being amortized over estimated useful lives as summarized below: Estimated Useful Description Life (in years) Amount Developed Technology 10 $ 5,000 Customer relationships 10 2,200 Tradenames 8.34 1,200 Total acquired intangibles $ 8,400 The Company, with the assistance of an independent valuation specialist, assessed the fair value of the assets of CoreBiome and Novosanis. The income approach was used to value the acquired intangibles and the fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3 fair value measurements. The income approach estimates fair value for an asset based on the present value of cash flows projected to be generated by the asset. Projected cash flows are discounted at a required rate of return that reflects the relative risk of achieving the cash flows and the time value of money. The useful lives of the intangible assets were estimated based on the expected future economic benefit of the assets and are being amortized over the estimated useful life in proportion to the economic benefits consumed using the straight-line method. The amortization of intangible assets is not deductible for income tax purposes. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the future economic benefits that we expect to achieve as a result of the acquisition. We believe the goodwill related to the acquisitions was a result of providing us a complementary service and product offering that will enable us to leverage those services and products with existing and new customers. The goodwill is not deductible for income tax purposes. All of the goodwill identified above has been allocated to our Molecular Solutions segment. Unaudited Pro Forma Financial Information The unaudited pro forma results presented below include the results of the UrSure, Diversigen, CoreBiome and Novosanis acquisitions as if they had been consummated as of January 1, 2019. The unaudited pro forma results include the amortization associated with acquired intangible assets and the estimated tax effect of adjustments to income before income taxes but do not include changes in the fair value of our contingent consideration obligations. Material nonrecurring charges, directly attributable to the transactions, including direct acquisition costs, are also excluded. In addition, the unaudited pro forma results do not include any expected benefits of the acquisitions. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of January 1, 2019. Year Ended December 31, 2020 2019 Revenue $ 172,563 $ 159,632 Net income (loss) ( 14,937 ) 16,261 Net income (loss) per share, basic ( 0.22 ) 0.26 Net income (loss) per share, diluted ( 0.22 ) 0.26 |
Sale of Cryosurgical Business
Sale of Cryosurgical Business | 12 Months Ended |
Dec. 31, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Sale of Cryosurgical Business | 4. SALE OF CRYOSURGICAL BUSINESS On August 16, 2019, we sold all rights and title to the assets necessary to operate our cryosurgical systems line of business to a third party for $ 12,000 . This business consisted of medical devices used for the removal of benign skin lesions by cryosurgery or freezing. The products were sold in both the professional and OTC markets in North America, Europe, Central and South America and Australia. We also entered into a transition services agreement with CryoConcepts in which both parties agreed to provide certain transition services beginning after the closing. The Company recorded a gain on sale of business of $ 10,149 reflected in our statement of operations for the year ended December 31, 2019. The gain includes the $ 12,000 of proceeds net of the fair value of the assets sold, which consisted entirely of inventory and fully-depreciated fixed assets, the legal fees associated with the transaction, and a value attributed to the transition services. |
Government Capital Contracts
Government Capital Contracts | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Government Capital Contracts | 5. GOVERNMENT CAPITAL CONTRACTS: In September 2021, we entered into an agreement for $ 109,000 in funding from the U.S. Department of Defense (the “DOD”), in coordination with the Department of Health and Human Services, to build additional manufacturing capacity in the United States for our InteliSwab ® COVID-19 Rapid Tests as part of the nation’s pandemic preparedness plan. Funding will be paid to the Company based on achievement of milestones through March 2024 for the design, acquisition, installation, qualification and acceptance of the manufacturing equipment, as set forth in the agreement. In accordance with the milestone payment schedule, 15 % of the total will not be funded until the completion of the final validation testing, which is scheduled to occur in late 2023 and early 2024. We began making payments to vendors for the capital project during the fourth quarter of 2021. We began receiving funds from the DOD in January 2022 and had received $ 15,428 as of the date of this report. Additionally, during 2021, we received $ 531 in funding from the Commonwealth of Pennsylvania, acting through the Department of Community and Economic Development, for the purchase of machinery and equipment as part of an expansion of manufacturing operations in Pennsylvania. All related purchases were completed in 2021. Activity for these capital contracts is accounted for pursuant to International Accounting Standard ("IAS") 20, Accounting for Government Grants and Disclosure of Government Assistance. Funding earned in relation to capital-related costs incurred for government contracts is recorded as a reduction to the cost of property, plant and equipment and reflected within investing activities in the consolidated statements of cash flows; and associated unpaid liabilities and government proceeds receivable are considered non-cash changes in such balances within the operating section of the consolidated statements of cash flows. Amounts earned in excess of our expected cost of the project for project management are recognized straight-line in other income over the term of the government contract. We recognized $ 561 of such income, which is reported as other income in our consolidated statement of operations for the year ended December 31, 2021. The balances corresponding to government contracts included in our consolidated balance sheet as of December 31, 2021, are as follows: December 31, Other current assets: Billed receivables $ 9,913 Unbilled receivables 9,716 Total other current assets 19,629 Property, plant and equipment, net: Cost of assets 11,495 Reduction for funding earned, not yet received ( 10,964 ) Reduction for funding received ( 531 ) Total property, plant and equipment, net - Accrued expenses and other current liabilities ( 8,103 ) |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories | INVENTORIES: December 31, 2021 2020 Raw materials $ 33,168 $ 15,425 Work in process 2,252 2,572 Finished goods 17,718 13,866 $ 53,138 $ 31,863 During 2021, 2020, and 2019, we recorded adjustments to inventory which had a cost of $ 13,400 , $ 2,564 , and $ 1,318 , respectively. The adjustments in 2021 included a write-off of $ 3,008 of COVID-19 antibody inventory, which we do not believe we can sell as a result of the decision to no longer pursue an EUA for the ELISA antibody test. Additionally, a significant portion of our 2021 adjustments were related to production and tech-transfer issues associated with our COVID-19 rapid test. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | 7. PROPERTY, PLANT AND EQUIPMENT: December 31, 2021 2020 Land $ 1,118 $ 1,118 Buildings and improvements 35,420 26,480 Machinery and equipment 57,919 36,878 Computer equipment and software 14,700 13,024 Furniture and fixtures 4,228 3,545 Construction in progress 35,936 24,419 149,321 105,464 Less accumulated depreciation ( 61,157 ) ( 53,604 ) $ 88,164 $ 51,860 Depreciation expense was $ 7,498 , $ 5,514 , and $ 4,421 for 2021, 2020, and 2019, respectively. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 8. GOODWILL AND OTHER INTANGIBLE ASSETS: The following table represents total goodwill by operating segment: December 31, 2021 2020 Diagnostics $ 3,604 $ 3,586 Molecular Solutions 36,675 36,765 $ 40,279 $ 40,351 The changes in goodwill are as follows: December 31, 2021 2020 Balance as of January 1 40,351 36,201 Goodwill acquired during the year — 3,586 Purchase price adjustment 18 ( 126 ) Change related to foreign currency translation ( 90 ) 690 Balance as of December 31 $ 40,279 $ 40,351 Intangible assets consist of the following: December 31, 2021 Amortization Gross Accumulated Amortization Net Customer relationships 10 $ 15,016 $ ( 11,205 ) $ 3,811 Patents and product rights 5 7,785 ( 6,241 ) 1,544 Developed technology 7 - 10 16,293 ( 9,725 ) 6,568 Tradename 5 - 15 5,661 ( 3,241 ) 2,420 $ 44,755 $ ( 30,412 ) $ 14,343 December 31, 2020 Amortization Gross Accumulated Net Customer relationships 10 $ 14,997 $ ( 9,685 ) $ 5,312 Patents and product rights 5 7,766 ( 5,792 ) 1,974 Developed technology 7 - 10 16,603 ( 8,880 ) 7,723 Tradename 5 - 15 5,645 ( 2,750 ) 2,895 $ 45,011 $ ( 27,107 ) $ 17,904 Amortization expense for 2021, 2020, and 2019 was $ 3,260 , $ 3,246 , and $ 2,522 , respectively. Amortization expense for each of the five succeeding fiscal years and beyond is estimated as follows: 2022 2,305 2023 2,305 2024 2,265 2025 2,012 2026 1,630 Beyond 3,826 $ 14,343 |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | 9. ACCRUED EXPENSES: December 31, 2021 2020 Payroll and related benefits $ 15,570 $ 14,769 Commitment to purchase under government contract 8,103 — Professional fees 3,335 978 Sales tax payable 2,227 2,400 Other 4,543 4,080 $ 33,778 $ 22,227 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Lessee Disclosure [Abstract] | |
Leases | . LEASES: We determine whether an arrangement is a lease at inception. We have operating and finance leases for corporate offices, warehouse space and equipment (including vehicles). As of December 31, 2021, we are the lessee in all agreements. Our leases have remaining lease terms of 1 to 7 years , some of which include options to extend the leases based on agreed upon terms, and some of which include options to terminate the leases within 1 year. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. We have lease agreements that contain both lease and non-lease components (e.g., common-area maintenance). For these agreements, we account for lease components separate from non-lease components. During 2021, we entered into various purchase agreements for our molecular solutions business which include a finance lease component for the use of specialized molds made and used by the vendor for purposes of manufacturing the goods to be purchased. We recorded an aggregate ROU asset and offsetting lease liability of $ 2,074 upon commencement of these contracts. The consideration to be paid under the agreements is variable based on the amounts purchased with a fixed amount charged if specified purchase minimums are not met. Only the fixed amount has been included in the measurement of the finance right-of-use asset and lease liability and the variable costs are recognized as purchases are made within cost of products and services sold in our consolidated statements of operations. The consideration for the contract has been allocated between the lease and non-lease components based on their relative estimated stand-alone selling prices. The components of lease expense are as follows: Years ended December 31, 2021 2020 2019 Operating lease cost $ 2,226 $ 1,291 $ 964 Variable lease cost 201 — — Finance lease cost: Amortization of right-of use assets 900 627 410 Interest on lease liabilities 82 72 36 Total finance lease cost 982 699 446 Total lease cost $ 3,409 $ 1,990 $ 1,410 Supplemental cash flow information related to leases is as follows: Years ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,733 $ 1,280 $ 937 Operating cash flows from financing leases 82 72 33 Financing cash flows from financing leases 686 687 442 Non-cash activity: Right-of-use assets obtained in exchange for operating lease obligations 6,480 498 1,829 Right-of-use assets obtained in exchange for finance lease obligations 2,074 46 2,069 Supplemental balance sheet information related to leases is as follows: December 31, 2021 2020 Operating Leases Right-of-use assets $ 9,056 $ 4,461 Lease liabilities: Current lease liabilities 2,181 1,125 Non-current lease liabilities 7,202 3,591 Total operating lease liabilities $ 9,383 $ 4,716 Finance Leases Right-of-use assets $ 2,493 $ 1,312 Lease liabilities: Current lease liabilities 939 517 Non-current lease liabilities 1,952 895 Total finance lease liabilities $ 2,891 $ 1,412 Weighted Average Remaining Lease Term Weighted-average remaining lease term—operating leases 5.26 years 4.45 years Weighted-average remaining lease term—finance leases 2.21 years 2.67 years Weighted Average Discount Rate Weighted-average discount rate—operating leases 3.90 % 4.28 % Weighted-average discount rate—finance leases 3.57 % 4.35 % As of December 31, 2021, minimum lease payments by period are expected to be as follows: Finance Operating 2022 815 2,494 2023 946 1,775 2024 1,275 1,807 2025 — 1,442 2026 — 1,215 Thereafter — 1,592 Total minimum lease payments 3,036 10,325 Less: imputed interest ( 145 ) ( 942 ) Present value of lease liabilities $ 2,891 $ 9,383 In January 2022, we entered into an operating lease for warehouse space, which is scheduled to commence during the first quarter of 2022. The agreement stipulates escalating fixed rent payments aggregating $ 7,154 to be paid over a lease term of 124 months . |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 11. INCOME TAXES: Income (loss) before income tax expense consists of the following: Years Ended December 31, 2021 2020 2019 United States $ ( 60,500 ) $ ( 47,995 ) $ 3,106 Foreign 51,208 44,471 18,225 $ ( 9,292 ) $ ( 3,524 ) $ 21,331 The components of income tax expense are as follows: Years Ended December 31, 2021 2020 2019 Current Federal $ — $ — $ — State 163 ( 106 ) 1,033 Foreign 12,517 11,896 5,099 12,680 11,790 6,132 Deferred Federal ( 10,318 ) ( 20,946 ) 3,568 State ( 965 ) ( 1,053 ) 125 Foreign ( 151 ) ( 410 ) ( 697 ) ( 11,434 ) ( 22,409 ) 2,996 Increase (decrease) in valuation allowance 12,460 22,017 ( 4,453 ) 1,026 ( 392 ) ( 1,457 ) Total income tax expense $ 13,706 $ 11,398 $ 4,675 For the years ended December 31, 2021, 2020, and 2019 we recorded foreign income tax expense of $ 13,543 , $ 12,185 , and $ 4,607 , respectively. The Tax Cuts and Jobs Act imposed a U.S. tax on GILTI that is earned by certain foreign affiliates owned by a U.S. shareholder effective in 2018. GILTI is generally intended to impose tax on the earnings of a foreign corporation that are deemed to exceed a certain threshold return relative to the underlying tangible property. The Company has made a policy election related to its treatment of GILTI and will treat it as a current period expense in the reporting period in which the tax is incurred. Final GILTI regulations were released in 2020. Among the changes was a GILTI “High-Tax Exception,” which allows foreign income deemed taxed at a sufficient effective rate to be excluded from a US owner’s GILTI income. All foreign income in 2021 and 2020 fell under this exception. It is expected that foreign income will continue to qualify for the exception in future years. A reconciliation of the statutory United States federal income tax rate to our effective tax rate for each of the years ended December 31, 2021, 2020, and 2019 is as follows: 2021 2020 2019 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % GILTI tax — — 16.9 Nondeductible executive compensation ( 6.1 ) ( 0.9 ) 0.4 Impact of share-based payment awards ( 3.3 ) ( 12.4 ) ( 5.3 ) Tax effect of foreign items ( 30.8 ) ( 70.7 ) 4.5 State income taxes, net of federal benefit 6.8 26.0 4.0 U.S. and foreign tax credits 2.5 34.9 ( 1.1 ) Nondeductible transaction costs - ( 2.8 ) 1.6 Nondeductible expenses and other ( 4.0 ) ( 2.6 ) 0.4 NOL adjustment due to change in GILTI regulations — 308.9 — Change in valuation allowance, federal and state ( 133.6 ) ( 624.8 ) ( 20.5 ) Effective tax rate ( 147.5 ) % ( 323.4 ) % 21.9 % Deferred income taxes reflect the tax effects of temporary differences between the basis of assets and liabilities recognized for financial reporting purposes and tax purposes, and net operating loss and tax credit carryforwards. Significant components of our deferred tax assets (liabilities) as of December 31, 2021 and 2020 are as follows: 2021 2020 Deferred tax assets (liabilities): Net operating loss carryforwards $ 44,191 $ 31,701 Inventories 4,642 1,593 Capitalized research and development costs 453 746 Accruals and reserves currently not deductible 3,245 3,200 Acquired intangible assets ( 3,117 ) ( 3,870 ) Depreciation and amortization ( 8,536 ) ( 2,804 ) Right-of-use assets ( 2,777 ) ( 2,415 ) Lease liabilities 2,957 2,524 Stock-based compensation 1,891 1,354 Tax credit carryforwards 3,855 3,354 Net deferred tax asset 46,804 35,383 Valuation allowance ( 49,038 ) ( 36,578 ) Net deferred tax liability $ ( 2,234 ) $ ( 1,195 ) In assessing the realizability of our deferred tax asset, we consider all relevant positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The realization of the gross deferred tax assets is dependent upon several factors, including the generation of sufficient taxable income prior to the expiration of the NOL carryforwards. In 2008, we established a full valuation allowance against our U.S. deferred tax asset, and management believes the full valuation allowance is still appropriate as of December 31, 2021 and 2020 since the facts and circumstances necessitating the allowance have not changed. As a result, no U.S. federal income tax benefit was recorded for the years ended December 31, 2021, 2020, and 2019. Our Federal NOL carryforwards expire as follows: Year of Expiration NOLs 2022 - 2032 $ 38,444 2033 - 2037 26,631 Non-Expiring 122,920 $ 187,995 The Tax Reform Act of 1986 contains provisions under Internal Revenue Code (“IRC”) Section 382 that limit the annual amount of federal and state NOL carryforwards that can be used in any given year in the event a significant change in ownership. We do not believe that there is a Section 382 limitation that will impair our future ability to utilize NOLs to offset our future taxable income. We continue to review ownership changes on an annual basis and we do not believe we have had a subsequent ownership change that would impact the NOLs. In January 2022, approximately $ 65,000 was repatriated from our Canadian subsidiary as a one-time event. It is still our intention to continue to permanently reinvest the historical undistributed earnings of our foreign subsidiary to the extent that we will not incur any additional tax expense associated with foreign withholding or other local tax expense on the future cash transfers. As such, deferred taxes have not been recorded on the unremitted earnings of the foreign subsidiary as of December 31, 2021. As of December 31, 2021, our gross unrecognized tax benefits totaled $ 805 , and based upon the valuation allowance for our U.S. operations, the recognition of any tax benefit would not impact our effective tax rate. We record interest and penalties related to unrecognized tax benefits as a component of income tax expense. Interest and penalties were immaterial in 2021, 2020, and 2019. As a result of our net operating loss carryforward position, we are subject to audit by the Internal Revenue Service since our inception, as well as by several state jurisdictions for the years ended September 30, 1998 through December 31, 2021. A reconciliation of our unrecognized tax benefits is as follows: 2021 2020 2019 Balance as of January 1 $ 1,172 $ 1,308 $ 1,676 Additions for tax positions of prior periods 1 1 4 Reductions for tax positions of prior periods ( 368 ) ( 137 ) ( 372 ) Balance as of December 31 $ 805 $ 1,172 $ 1,308 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | 12. STOCKHOLDERS’ EQUITY: Stock-Based Awards We grant stock-based awards under the OraSure Technologies, Inc. Stock Award Plan, as amended (the “Stock Plan”). The Stock Plan permits stock-based awards to employees, outside directors and consultants or other third-party advisors. Awards which may be granted under the Stock Plan include qualified incentive stock options, nonqualified stock options, stock appreciation rights, restricted awards, performance awards and other stock-based awards. As of December 31, 2021, 4,613 shares were available for future grants under the Stock Plan. Under the terms of the Stock Plan, nonqualified stock options may be granted to eligible employees, including our officers at a price not less than 75 percent of the fair market value of a share of common stock on the date of grant. The option term and vesting schedule of such awards may be either unlimited or have a specified period in which to vest and be exercised. To date, options generally have been granted with ten-year exercise periods and an exercise price not less than the fair market value on the date of grant. Options generally vest over four years , with one quarter of the options vesting one year after grant and the remainder vesting on a monthly basis over the next three years. The fair value of each stock option was estimated on the date of the grant using the Black-Scholes option-pricing model using the following weighted-average assumptions: Years Ended December 31, Black-Scholes Option Valuation Assumptions 2021 2020 2019 Risk-free interest rate (1) 0.47 % 1.33 % 2.52 % Expected dividend yield — — — Expected stock price volatility (2) 50 % 42 % 41 % Expected life of stock options (in years) (2) 4 5 5 (1) Based on the constant maturity interest rate of U.S. Treasury securities whose term is consistent with the expected life of our stock options. (2) Based upon historical experience. The weighted-average grant date fair value of stock options granted during the years ended December 31, 2021, 2020 and 2019 was $ 6.14 , $ 2.79 and $ 5.19 , respectively. Compensation expense recognized in the financial statements related to stock options was as follows: Years Ended December 31, 2021 2020 2019 Total compensation cost during the year $ 1,063 $ 892 $ 1,161 Amounts capitalized into inventory during the year ( 538 ) ( 466 ) ( 343 ) Amounts recognized in cost of products sold for amounts previously capitalized 502 360 405 Amounts charged against income $ 1,027 $ 786 $ 1,223 The aggregate intrinsic value of options exercised during the years ended December 31, 2021, 2020 and 2019 (the amount by which the market price of the stock on the date of exercise exceeded the exercise price) was $ 130 , $ 3,117 , and $ 92 , respectively. The following table summarizes the stock option activity under the Stock Plan: Options Weighted- Weighted- Aggregate Intrinsic Value Outstanding on January 1, 2021 1,232 $ 10.12 Granted 366 13.68 Exercised ( 33 ) 7.50 Expired ( 88 ) 15.80 Forfeited ( 67 ) 10.67 Outstanding on December 31, 2021 1,410 $ 10.73 6.88 $ 1,113 Vested or expected to vest as of December 31, 2021 1,378 $ 10.68 6.84 $ 1,081 Exercisable on December 31, 2021 786 $ 10.39 5.43 $ 729 As of December 31, 2021, there was $ 2,571 of unrecognized compensation expense related to unvested option awards that is expected to be recognized over a weighted-average period of 2.8 years. Net cash proceeds from the exercise of stock options were $ 246 , $ 3,222 and $ 196 for the years ended December 31, 2021, 2020 and 2019, respectively. As a result of our net operating loss carryforward position, no actual income tax benefit was realized from stock option exercises for these periods. The following table summarizes information about stock options outstanding as of December 31, 2021: Options outstanding Options exercisable Range of exercise prices Number Weighted- Weighted- Number Weighted- $ 5.37 -$ 8.24 588 6.7 $ 6.92 353 $ 6.75 $ 8.87 -$ 13.31 437 6.4 10.59 282 10.67 $ 14.95 -$ 22.43 385 7.8 16.70 151 18.37 1,410 6.9 $ 10.73 786 $ 10.39 The Stock Plan also permits us to grant restricted shares and restricted units of our common stock to eligible employees, including officers, and our outside directors. Generally, these shares or units are nontransferable until vested and are subject to vesting requirements and/or forfeiture, as determined by our Compensation Committee or Board of Directors. The market value of these shares and units at the date of grant is recognized on a straight-line basis over the period during which the vesting restrictions lapse. Compensation cost of $ 4,094 $ 4,094 and $ 2,979 related to restricted shares was recognized during the years ended December 31, 2021, 2020 and 2019, respectively. The following table summarizes restricted stock award and restricted stock units activity under the Stock Plan: Units Weighted- Issued and unvested, January 1, 2021 659 $ 9.95 Granted 454 13.23 Vested ( 328 ) 10.84 Forfeited ( 84 ) 11.02 Issued and unvested, December 31, 2021 701 $ 11.53 Issued and expected to vest, December 31, 2021 638 $ 11.32 As of December 31, 2021, there was $ 4,640 of unrecognized compensation expense related to unvested restricted stock awards and unvested restricted stock units that is expected to be recognized over a weighted average period of 1.9 years. In connection with the vesting of restricted shares during the years ended December 31, 2021, 2020 and 2019, we purchased and immediately retired 107 , 127 and 76 shares with aggregate values of $ 1,417 , $ 1,219 and $ 949 , respectively, in satisfaction of minimum tax withholding and exercise obligations. We grant performance-based restricted stock units (“PSUs”) to certain executives. Vesting of these PSUs is dependent upon achievement of certain performance-based metrics during a one-year or three-year period, from the date of grant. Assuming achievement of each performance-based metric, the executive must also generally remain in our service for three years from the grant date. Prior to 2021, performance during the one-year period was based on a one-year income before tax target. Performance during the three-year period was based on achievement of a three-year compound annual growth rate for consolidated revenues. In 2021, performance shares were granted based on the achievement of three-year cumulative revenue metrics with a market-based condition, or a total shareholder return modifier. PSUs are converted into shares of our common stock once vested and the number of shares actually earned at the end of the performance period will vary, based on actual performance, from 0 % to 200 % of the target number of performance share units granted. Upon grant of the PSUs, we recognize compensation expense related to these awards based on assumptions as to what percentage of each target will be achieved. The Company evaluates these target assumptions on a quarterly basis and adjusts compensation expense related to these awards, as appropriate. Compensation cost of $ 2,650 , $ 2,153 and $( 83 ) related to the PSUs was recognized during the years ended December 31, 2021, 2020 and 2019, respectively. The following table summarizes PSU activity under the Stock Plan: Units Weighted- Issued and unvested, January 1, 2021 651 $ 11.30 Granted (1) 182 10.99 Performance adjustment (2) 41 N/A Vested ( 123 ) 16.66 Forfeited ( 129 ) 14.28 Issued and unvested, December 31, 2021 622 $ 9.88 Issued and expected to vest, December 31, 2021 470 $ 9.56 (1) Grant activity for all PSUs disclosed at target. (2) Reflects the performance adjustment based on actual performance measured at the end of the performance period. As of December 31, 2021, there was $ 2,349 of unrecognized compensation expense related to unvested performance stock units that is expected to be recognized over a weighted average period of 1.8 years. In connection with the vesting of performance stock units during the year ended December 31, 2021, 2020 and 2019, we purchased and immediately retired 46 , 1 21 , and 213 shares with aggregate values of $ 696 , $ 869 and $ 2,763 , respectively. Public Offering On June 1, 2020, we entered into an underwriting agreement with J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Evercore Group LLC, as representatives of several underwriters, relating to the issuance and sale of 8,000 shares of our common stock. The price to the public in the offering was $ 11.00 per share. Under the terms of the underwriting agreement, we also granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 1,200 shares of common stock. On June 3, 2020, we announced the full exercise by the underwriters of their option to purchase these additional shares. The offering was made pursuant to an effective registration statement on Form S-3 (File No. 333-228877) we had previously filed with the SEC, and a prospectus supplement thereunder. The net proceeds from the offering were approximately $ 95,000 after deducting underwriting discounts and offering expenses paid by the Company. Share Repurchase Program On August 5, 2008, our Board of Directors approved a share repurchase program pursuant to which we are permitted to acquire up to $ 25,000 of our outstanding common shares. No shares were purchased and retired in 2021, 2020, and 2019. |
Transition Costs
Transition Costs | 12 Months Ended |
Dec. 31, 2021 | |
Transition Costs [Abstract] | |
Transition Costs | 13. TRANSITION COSTS On December 31, 2021, the Company's Board of Directors approved the termination of Stephen S. Tang, the Company’s President and Chief Executive Officer, without cause under his existing employment agreement with the Company, with such termination effective as of March 31, 2022. On January 2, 2022, Dr. Tang and the Company entered into a Transition Agreement providing for the terms of the cessation of Dr. Tang’s employment with the Company, including the cessation of his service as President and Chief Executive Officer of the Company and as a member of the Board. Under the Transition Agreement, Dr. Tang’s service to the Company in all capacities is expected to end on March 31, 2022. Pursuant to the Transition Agreement, as of December 31, 2021, a severance accrual of $ 1,569 is included in the consolidated financial statements. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Business Segment Information | 14. BUSINESS SEGMENT INFORMATION: Our business consists of two segments, which are described in Note 1: our “Diagnostics” segment and our “Molecular Solutions” segment. We organized our operating segments according to the nature of the products included in those segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2). We evaluate performance of our operating segments based on revenue and operating income. We do not allocate interest income, interest expense, other income, other expenses or income taxes to our operating segments. Reportable segments have no inter-segment revenues and inter-segment expenses have been eliminated. The following table summarizes operating segment information for the years ended December 31, 2021, 2020, and 2019, and asset information as of December 31, 2021 and 2020: Years ended December 31, 2021 2020 2019 Net revenues: Diagnostics $ 90,040 $ 65,240 $ 78,225 Molecular Solutions 143,634 106,481 76,380 Total $ 233,674 $ 171,721 $ 154,605 Operating income (loss): Diagnostics $ ( 57,177 ) $ ( 43,156 ) $ 154 Molecular Solutions 47,013 37,979 18,457 Total $ ( 10,164 ) $ ( 5,177 ) $ 18,611 Depreciation and amortization: Diagnostics $ 4,325 $ 3,345 $ 3,039 Molecular Solutions 7,333 6,042 4,300 Total $ 11,658 $ 9,387 $ 7,339 Capital expenditures: Diagnostics (1) $ 26,994 $ 17,860 $ 6,073 Molecular Solutions 9,628 8,814 3,241 Total $ 36,622 $ 26,674 $ 9,314 (1) Excludes $ 11,495 for purchases of property and equipment under government contracts for the year ended December 31, 2021. December 31, 2021 2020 Total assets: Diagnostics $ 209,674 $ 242,613 Molecular Solutions 251,316 211,859 Total $ 460,990 $ 454,472 The following table represents total long-lived assets by geographic area: December 31, 2021 2020 United States $ 76,232 $ 36,897 Canada 11,003 10,616 Other regions 929 4,347 $ 88,164 $ 51,860 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 15. COMMITMENTS AND CONTINGENCIES: Purchase Commitments As of December 31, 2021, we had outstanding non-cancelable purchase commitments related to inventory, supplies, capital expenditures, and other goods or services as follows: 2022 36,721 2023 25,429 2024 16,934 2025 8,667 2026 — $ 87,751 Additionally, we have entered into manufacturing agreements with certain third party vendors, in which minimum purchase commitments are required. If the minimum commitments are not achieved, we will be required to make annual penalty payments over the next three years. Based on current forecasts, these penalties aggregate to approximately $ 2,209 for the three-year period. These estimated penalties can fluctuate based on changes in forecasted demand. Employment Agreements Under terms of employment agreements with certain employees, which extend through 2024, we are required to pay each individual a base salary for continuing employment with us as follows: 2022 $ 2,911 2023 821 2024 426 2025 — 2026 — $ 4,158 Litigation From time to time, we are involved in certain legal actions arising in the ordinary course of business. In management’s opinion, based upon the advice of counsel, the outcomes of such actions are not expected, individually or in the aggregate, to have a material adverse effect on our future financial position or results of operations. Spectrum Patent Litigation |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
Retirement Plans | 16. RETIREMENT PLANS: Substantially all of our U.S. employees are eligible to participate in the OraSure Technologies, Inc. 401(k) Plan (the “401(k) Plan”). The 401(k) Plan permits voluntary employee contributions to be excluded from an employee’s current taxable income under provisions of Internal Revenue Code Section 401(k) and the regulations thereunder. The 401(k) Plan also provides for us to match employee contributions up to $ 4 per year. We contributed $ 1,295 , $ 994 and $ 754 to the 401(k) Plan, net of forfeitures, in 2021, 2020, and 2019, respectively. In addition to our 401(k) plan, we offer a nonqualified deferred compensation plan to permit eligible directors and highly compensated employees of the Company to defer receipt and taxation of their compensation each year. We also may make discretionary contributions to the accounts of the participating employees in any amount either in cash or stock. Participants in the plan may not purchase OraSure stock as an investment vehicle. As of December 31, 2021 and 2020, the value of the assets associated with this plan was $ 1,763 and $ 2,565 , respectively, and is included in current assets and other assets in our consolidated balance sheets. Our obligation related to the deferred compensation plan is included in accrued expenses and other liabilities in our consolidated balance sheets. As of December 31, 2021 and 2020, our total obligation under this plan was $ 1,763 and $ 2,565 , respectively. Substantially all regular full-time Canadian employees are eligible to participate in the DNA Genotek Registered Retirement Savings Plan (the “RRSP”). The RRSP permits voluntary employee contributions to be excluded from an employee’s current taxable income and receive tax preferred treatment with Revenue Canada. The RRSP also provides for DNAG to match employee contributions up to $ 4 per year. We contributed $ 448 , $ 366 and $ 184 to the RRSP in 2021, 2020, and 2019, respectively. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of OraSure Technologies, Inc. (“OraSure”) and its wholly-owned subsidiaries, DNAG, Diversigen, and Novosanis. All intercompany transactions and balances have been eliminated. References herein to “we,” “us,” “our,” or the “Company” mean OraSure and its consolidated subsidiaries, unless otherwise indicated. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions about future events. These estimates and underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the fair value of assets acquired and liabilities assumed for business combinations, the valuation of accounts receivable and inventories and assumptions utilized in impairment testing for intangible assets and goodwill, as well as calculations related to accruals, taxes, contingent consideration and performance-based compensation expense, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis, using historical experience and other factors, which management believes to be reasonable under the circumstances, including the current economic environment. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic environment and other factors will be reflected in the financial statements in those future periods. |
Employee Retention Credit | Employee Retention Credit In December 2021, we applied for the Employee Retention Credit for payroll taxes paid in the first and second quarters of 2021 as provided by the Coronavirus Aid, Relief and Economic Security Act . The amount due from the Internal Revenue Service of $ 5,728 is recorded in other current assets in our consolidated balance sheet as of December 31, 2021. The credit is reported in our consolidated statement of operations, for the year ended December 31, 2021, within cost of products and services sold, research and development, sales and marketing and general and administrative costs in the amounts of $ 2,536 , $ 1,134 , $ 924 , and $ 1,134 , respectively |
Supplemental Cash Flow Information | Supplemental Cash Flow Information In 2021, 2020 and 2019, we paid income taxes of $ 13,727 , $ 9,263 and $ 10,611 , respectively. In 2021, 2020 and 2019, we recorded through the consolidated statements of operations an increase (decrease) in our allowance for doubtful accounts of $( 253 ), $ 941 and $ 2,248 respectively. We had write-offs of $ 115 , $ 501 and $ 110 in 2021, 2020, and 2019, respectively. As of December 31, 2021, 2020 and 2019, we had accruals for purchases of property and equipment of $ 8,166 $ 802 , and $ 660 , respectively. |
Investments | Investments We consider all investments in debt securities to be available-for-sale securities. These securities are comprised of guaranteed investment certificates and corporate bonds with purchased maturities greater than ninety days. Available-for-sale securities are carried at fair value, based upon quoted market prices, with unrealized gains and losses, if any, reported in stockholders’ equity as a component of accumulated other comprehensive loss. We record an allowance for credit loss for our available-for-sale securities when a decline in investment market value is due to credit-related factors. When evaluating an investment for impairment, we review factors such as the severity of the impairment, changes in underlying credit ratings, forecasted recovery, the Company’s intent to sell or the likelihood that it would be required to sell the investment before its anticipated recovery in market value and the probability that the scheduled cash payments will continue to be made. During 2021, we recognized a provision for expected credit losses for our available-for-sale securities of $ 98 . The following is a summary of our available-for-sale securities as of December 31, 2021 and 2020: Amortized Gross Gross Fair Value December 31, 2021 Guaranteed investment certificates $ 33,249 $ — $ — $ 33,249 Corporate bonds 20,473 — ( 434 ) 20,039 Total available-for-sale securities $ 53,722 $ — $ ( 434 ) $ 53,288 December 31, 2020 Guaranteed investment certificates $ 25,132 $ — $ — $ 25,132 Corporate bonds 71,533 135 ( 483 ) 71,185 Total available-for-sale securities $ 96,665 $ 135 $ ( 483 ) $ 96,317 At December 31, 2021, maturities of our available-for-sale Less than one year $ 36,386 $ — $ ( 107 ) $ 36,279 Greater than one year $ 17,336 $ — $ ( 327 ) $ 17,009 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments As of December 31, 2021 and 2020, the carrying values of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their respective fair values based on their short-term nature. Fair value measurements of all financial assets and liabilities that are being measured and reported on a fair value basis are required to be classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). All of our available-for-sale debt securities are measured as Level 2 instruments as of December 31, 2021 and 2020. Our guaranteed investment certificates are measured as Level 1 instruments as of December 31, 2021 and 2020. Included in cash and cash equivalents at December 31, 2021 and 2020, was $ 1,160 and $ 71,489 invested in government money market funds. These funds have investments in government securities and are measured as Level 1 instruments. We offer a nonqualified deferred compensation plan for certain eligible employees and members of our Board of Directors. The assets of the plan are held in the name of the Company at a third-party financial institution. Separate accounts are maintained for each participant to reflect the amounts deferred by the participant and all earnings and losses on those deferred amounts. The assets of the plan are held in mutual funds. The fair value of the plan assets as of December 31, 2021 and 2020 was $ 1,763 and $ 2,565 , respectively, and was calculated using the quoted market prices of the assets as of those dates. All investments in the plan are classified as trading securities and measured as Level 1 instruments. The fair value of plan assets is included in both current assets and other noncurrent assets with the same amounts included in accrued expenses and other noncurrent liabilities in the accompanying consolidated balance sheets. As further discussed in Note 3, Business Combinations, we have identified our contingent consideration obligations as Level 3 liabilities due to significant inputs that are required to measure the fair value of these obligations. The following table represents the change in contingent consideration: Balance as of January 1, 2019 $ — Addition related to acquisition (initial measurement) 4,350 Change in fair value during the period ( 664 ) Currency translation adjustment ( 74 ) Balance as of December 31, 2019 3,612 Addition related to acquisition (initial measurement) 3,440 Payments made during the period ( 3,500 ) Change in fair value during the period ( 1,099 ) Currency translation adjustment ( 2 ) Balance as of December 31, 2020 2,451 Payments made during the period ( 406 ) Change in fair value during the period ( 1,485 ) Balance as of December 31, 2021 $ 560 |
Accounts Receivable | Accounts Receivable Accounts receivable have been reduced by an estimated allowance for amounts that may become uncollectible in the future. This estimated allowance is based primarily on management’s evaluation of specific balances as they become past due, the financial condition of our customers and our historical experience related to write-offs. |
Inventories | Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis, and include the cost of raw materials, labor and overhead. The majority of our inventories are subject to expiration dating, which can be extended in certain circumstances. We continually evaluate quantities on hand and the carrying value of our inventories to determine the need for reserves for excess and obsolete inventories, based on prior experience as well as estimated forecasts of product sales. We reserve for unidentified scrap or spoilage based on historical write-off rates. We also consider items identified through specific identification procedures in assessing the adequacy of our reserve. When factors indicate that impairment has occurred, either a reserve is established against the inventories’ carrying value or the inventories are completely written off, as in the case of lapsing expiration dates. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at cost. Additions or improvements are capitalized, while repairs and maintenance are charged to expense. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the related assets. Buildings are typically depreciated over twenty years , while computer equipment and software, machinery and equipment, and furniture and fixtures are depreciated over two to ten years . Building improvements are amortized over their estimated useful lives. When assets are sold, retired, or discarded, the related property amounts are relieved from the accounts, and any gain or loss is recorded in the consolidated statements of operations. |
Intangible Assets | Intangible Assets Intangible assets consist of customer relationships, patents and product rights, acquired technology and tradenames. Patents and product rights consist of costs associated with the acquisition of patents, licenses and product distribution rights. Intangible assets are amortized using the straight-line method over their estimated useful lives of five to fifteen years . |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets, which include property and equipment and definite-lived intangible assets, are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. We assess the recoverability of our long-lived assets by determining whether the carrying value of such assets can be recovered through the sum of the undiscounted future cash flows generated from the use and eventual disposition of the asset. If indicators of impairment exist, we measure the amount of such impairment by comparing the carrying value of the assets to the fair value of these assets, which is generally determined based on the present value of the expected future cash flows associated with the use of the assets. Expected future cash flows reflect our assumptions about selling prices, volumes, costs and market conditions over a reasonable period of time. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is not amortized but rather is tested annually for impairment or more frequently if we believe that indicators of impairment exist. Current generally accepted accounting principles permit us to make a qualitative evaluation about the likelihood of goodwill impairment. If we conclude that it is more likely than not that the carrying value of a reporting unit is greater than its fair value, then we would be required to recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, provided the impairment charge does not exceed the total amount of goodwill allocated to the reporting unit. We performed our annual impairment assessment as of July 31, 2021 utilizing a qualitative evaluation and concluded that it was more likely than not that the fair value of our reporting units is greater than their carrying value. We believe we have made reasonable estimates and assumptions to calculate the fair value of our reporting units. If actual future results are not consistent with management’s estimates and assumptions, we may have to take an impairment charge in the future related to our goodwill. Future impairment tests will continue to be performed annually in the fiscal third quarter, or sooner if a triggering event occurs. |
Revenue | Revenue |
Product Sales | Product sales . Revenue from product sales is recognized upon transfer of control of a product to a customer based on an amount that reflects the consideration we are entitled to, net of allowances for any discounts or rebates. We generally do not grant product return rights to our customers, except for warranty returns and return rights on sales of our OraQuick ® In-Home HIV test to the retail trade, and InteliSwab ® products to certain customers. Historically, returns arising from warranty issues have been infrequent and immaterial. Accordingly, we expense warranty returns as incurred. We record shipping and handling charges billed to our customers as product revenue and the related expense as cost of products sold. |
Service Revenues | Service revenues. Service revenues represent microbiome laboratory testing and analytical services. We recognize revenues when we satisfy our performance obligations for services rendered. |
Arrangements with Multiple-performance Obligations | Arrangements with multiple-performance obligations . In arrangements involving more than one performance obligation, which largely applies to our service revenue stream, each required performance obligation is evaluated to determine whether it qualifies as a distinct performance obligation based on whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available and (ii) the good or services is separately identifiable from other promises in the contract. The consideration under the arrangement is then allocated to each separate distinct performance obligation based on their respective relative stand-alone selling price. The estimated selling price of each deliverable is determined using an observable cost plus margin approach. The consideration allocated to each distinct performance obligation is recognized as revenue when control is transferred for the related goods or services or when the performance obligation has been satisfied. |
Other Revenues | Other revenues . Other revenues consist primarily of royalty income, funding of research and development efforts and cost reimbursements under a charitable support agreement. Royalties from licensees are based on third-party sales of licensed products and are recorded when the related third-party product sale occurs. Funding of research and development efforts and charitable support reimbursements are recorded as the activities are being performed in accordance with the respective agreements. |
Deferred Revenue | Deferred Revenue. We record deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of December 31, 2021 and 2020 included customer prepayments of $ 1,843 and $ 3,216 , respectively. Deferred revenue as of December 31, 2021 and 2020 also included $ 1,093 and $ 1,595 , respectively, associated with a long-term contract that has variable pricing based on volume. The average price over the life of contract was determined based on expected revenues and revenue is recognized at that rate when the product is delivered to the customer. |
Financing and Payment | Financing and Payment . Our payment terms vary by the type and location of our customer and products or services offered. Payment terms differ by jurisdiction and customer but payment is generally required in a term ranging from 30 to 120 days from date of shipment or satisfaction of the performance obligation. For certain products or services and customer types, we may require payment before the products are delivered or services are rendered to the customer. |
Practical Expedients and Exemptions | Practical expedients and exemptions . Taxes assessed by governmental authorities, such as sales or value-added taxes, are excluded from product revenues. Sales commissions are expensed when incurred if the amortization period is one year or less. These costs are recorded in sales and marketing expense in the consolidated statements of operations. If the amortization period exceeds one year, we defer the cost of the commission and expense it over the life of the related sales contract. |
Revenues by Product | Revenues by product . The following table represents total net revenues by product line: Years ended December 31, 2021 2020 2019 Infectious disease testing $ 54,645 $ 54,227 $ 58,016 Risk assessment testing 9,678 9,194 12,189 Cryosurgical systems - - 7,054 Genomics (1) 63,350 36,878 56,200 Microbiome (1) 7,944 5,474 7,172 COVID-19 (1) 76,874 50,927 - Laboratory services 11,840 8,746 6,767 Other product and service revenues 2,566 935 675 Net product and services revenues 226,897 166,381 148,073 Royalty income 4,420 3,432 5,116 Other non-product revenues 2,357 1,908 1,416 Other revenues 6,777 5,340 6,532 Net revenues $ 233,674 $ 171,721 $ 154,605 (1) 2020 Genomics, Microbiome, and COVID-19 revenues were reclassified to reflect the correct classification of the product line sales. The reclassification increased (decreased) the product line revenues for the year ended December 31, 2020 by $( 263 ), $( 682 ), and $ 945 , respectively. |
Revenues by Geographic Area | Revenues by geographic area . The following table represents total net revenues by geographic area, based on the location of the customer: Years ended December 31, 2021 2020 2019 United States $ 188,383 $ 130,835 $ 107,279 Europe 13,799 12,068 11,752 Other regions 31,492 28,818 35,574 $ 233,674 $ 171,721 $ 154,605 |
Customer and Vendor Concentrations | Customer and Vendor Concentrations. We had no customers that accounted for more than 10% of our accounts receivable as of December 31, 2021. We had one customer that accounted for 11 % of our accounts receivable as of December 31, 2020. The same customer accounted for approximately 15 % of our net consolidated revenues for the year ended December 31, 2019. We had no customers that accounted for more than 10% of our consolidated net revenues for the years ended December 31, 2021 and 2020. We currently purchase certain products and critical components of our products from sole-supply vendors. If these vendors are unable or unwilling to supply the required components and products, we could be subject to increased costs and substantial delays in the delivery of our products to our customers. Third-party suppliers also manufacture certain products. Our inability to have a timely supply of any of these components and products could have a material adverse effect on our business, as well as our financial condition and results of operations. DNAG has three long-term contract manufacturing relationships to supply virtually all of its products, including the Oragene ® product line. Many of the raw materials and components used in these products are also purchased from third parties, some of which are purchased from a single source supplier. We are actively seeking to qualify other suppliers that can manufacture and supply the raw materials and components for the DNAG products. |
Business Combinations and Contingent Consideration | Business Combinations and Contingent Consideration Acquired businesses are accounted for using the acquisition method of accounting, which requires that the purchase price be allocated to the net assets acquired at their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Amounts allocated to contingent consideration are recorded to the balance sheet at the date of acquisition based on their relative fair values. The purchase price allocation requires us to make significant estimates and assumptions, especially at the acquisition date, with respect to intangible assets. Although we believe the assumptions and estimates we have made are reasonable, they are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain. We account for contingent consideration in accordance with applicable guidance provided within the business combination accounting standard. As part of our consideration for the recent acquisitions, we are contractually obligated to pay certain consideration resulting from the outcome of future events. Therefore, we are required to update our underlying assumptions each reporting period, based on new developments, and record such contingent consideration liabilities at fair value until the contingency is resolved. Changes in the fair value of the contingent consideration liabilities are recognized each reporting period and included in our consolidated statements of operations. Our estimates of fair value are based on assumptions we believe to be reasonable, but the assumptions are uncertain and involve significant judgment by management. Updates to these assumptions could have a significant impact on our results of operations in any given period and any updates to the fair value of the contingent consideration could differ materially from the previous estimates. Examples of critical estimates used in valuing certain intangible assets and contingent consideration include: • future expected cash flows from sales and acquired developed technologies; • the acquired company's trade name and customer relationships as well as assumptions about the period of time the acquired trade name and customer relationships will continue to be used in the combined company's portfolio; • the probability of meeting the future events; and • discount rates used to determine the present value of estimated future cash flows. These estimates are inherently uncertain and unpredictable, and if different estimates were used the purchase price for the acquisition could be allocated to the acquired assets and liabilities differently from the allocation that we have made. In addition, unanticipated events and circumstances may occur, which may affect the accuracy or validity of such estimates, and if such events occur we may be required to record a charge against the value ascribed to an acquired asset or an increase in the amounts recorded for assumed liabilities . |
Research and Development | Research and Development Research and development expenses consist of costs incurred in performing research and development activities, including salaries and benefits, facilities expenses, overhead expenses, clinical trial and related clinical manufacturing expenses, contract services and other outside expenses. Research and development costs are charged to expense as incurred. |
Advertising Expenses | Advertising Expenses Advertising costs are charged to expense as incurred. During 2021, 2020, and 2019, we incurred $ 5,103 , $ 1,126 , and $ 468 , respectively, in advertising expenses. |
Stock-Based Compensation | Stock-Based Compensation We account for stock-based compensation to employees and directors using the fair value method. We recognize compensation expense for stock option and restricted stock awards issued to employees and directors on a straight-line basis over the requisite service period of the award. We recognize compensation expense related to performance-based restricted stock units based on assumptions as to what percentage of each performance target will be achieved. We evaluate these target assumptions on a quarterly basis and adjust compensation expense related to these awards, as appropriate. To satisfy the exercise of options, issuance of restricted stock, or redemption of performance-based restricted stock units, we issue new shares rather than purchase shares in the open market. |
Income Taxes | Income Taxes We follow the asset and liability method for accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax basis of assets and liabilities, as well as operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates for the respective taxing jurisdiction that are expected to apply to taxable income in the years in which those temporary differences and operating loss and credit carryforwards are expected to be recovered, settled or utilized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We assess the realizability of our net deferred tax assets on a quarterly basis. If, after considering all relevant positive and negative evidence, it is more likely than not that some portion or all of the net deferred tax assets will not be realized, we reduce our net deferred tax assets by a valuation allowance. The realization of the net deferred tax assets is dependent on several factors, including the generation of sufficient taxable income prior to the expiration of our net operating loss carryforwards. |
Foreign Currency Translation | Foreign Currency Translation The assets and liabilities of our foreign operations are translated into U.S. dollars at current exchange rates as of the balance sheet date, and revenues and expenses are translated at average exchange rates for the period. Resulting translation adjustments are reflected in accumulated other comprehensive loss, which is a separate component of stockholders’ equity. Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than functional currency are included in our consolidated statements of operations in the period in which the change occurs. Net foreign exchange losses resulting from foreign currency transactions that are included in other income in our consolidated statements of operations were $( 667 ), $( 337 ), and $( 1,339 ) for the years ended December 31, 2021, 2020, and 2019, respectively. |
Earnings (Loss) Per Share | Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed in a manner similar to basic earnings (loss) per share except that the weighted-average number of shares outstanding is increased to include incremental shares from the assumed vesting or exercise of dilutive securities, such as common stock options, unvested restricted stock or performance stock units, unless the impact is antidilutive. The number of incremental shares is calculated by assuming that outstanding stock options were exercised and unvested restricted shares and performance stock units were vested, and the proceeds from such exercises or vesting were used to acquire shares of common stock at the average market price during the reporting period. Basic and dilutive computations of net loss per share are the same in periods in which a net loss exists as the dilutive effects of excluded items would be anti-dilutive . The computations of basic and diluted earnings (loss) per share are as follows: Years ended December 31, 2021 2020 2019 Net income (loss) $ ( 22,998 ) $ ( 14,922 ) $ 16,656 Weighted-average shares of common stock outstanding: Basic 71,981 67,505 61,675 Dilutive effect of stock options, restricted stock, and performance stock units — — 495 Diluted 71,981 67,505 62,170 Earnings (loss) per share: Basic $ ( 0.32 ) $ ( 0.22 ) $ 0.27 Diluted $ ( 0.32 ) $ ( 0.22 ) $ 0.27 For the years ended December 31, 2021 and 2020, outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 769 and 984 shares, respectively, were excluded from the computation of diluted loss per share. For the year ended December 31, 2019 outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 768 were excluded from the computation of diluted earnings per share as their inclusion would have been anti-dilutive. |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss We classify items of other comprehensive income (loss) by their nature and disclose the accumulated balance of other comprehensive loss separately from accumulated deficit and additional paid-in capital in the stockholders’ equity section of our consolidated balance sheets. We have defined the Canadian dollar as the functional currency of our Canadian subsidiary, DNAG, and we have defined the Euro as the functional currency of our Belgian subsidiary, Novosanis. The results of operations are translated into U.S. dollars, which is the reporting currency of the Company. Accumulated other comprehensive loss at December 31, 2021 consists of $ 9,643 of currency translation adjustments and $ 434 of net unrealized losses on marketable securities, which represents the fair market value adjustment for our investments portfolio. Accumulated other comprehensive loss at December 31, 2020 consists of $ 8,749 of currency translation adjustments and $ 348 of net unrealized losses on marketable securities. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2021, the Financial Accounting Standards Board ("FASB") issu ed Accounting Standards Update (“ASU”) No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, The purpose of this update is to improve transparency by requiring business entities to disclose information about certain types of government assistance they receive in their financial statements . Required disclosures include i) the nature of the transactions and related accounting policy used, ii) the financial statement line items affected and amounts thereof and iii) significant terms and conditions of the transactions. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, with early application permitted. We have adopted this guidance within this 2021 Form 10-K. See Note 5 for required disclosures. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Available-for-sale Securities | The following is a summary of our available-for-sale securities as of December 31, 2021 and 2020: Amortized Gross Gross Fair Value December 31, 2021 Guaranteed investment certificates $ 33,249 $ — $ — $ 33,249 Corporate bonds 20,473 — ( 434 ) 20,039 Total available-for-sale securities $ 53,722 $ — $ ( 434 ) $ 53,288 December 31, 2020 Guaranteed investment certificates $ 25,132 $ — $ — $ 25,132 Corporate bonds 71,533 135 ( 483 ) 71,185 Total available-for-sale securities $ 96,665 $ 135 $ ( 483 ) $ 96,317 At December 31, 2021, maturities of our available-for-sale Less than one year $ 36,386 $ — $ ( 107 ) $ 36,279 Greater than one year $ 17,336 $ — $ ( 327 ) $ 17,009 |
Summary of Change in Contingent Consideration | The following table represents the change in contingent consideration: Balance as of January 1, 2019 $ — Addition related to acquisition (initial measurement) 4,350 Change in fair value during the period ( 664 ) Currency translation adjustment ( 74 ) Balance as of December 31, 2019 3,612 Addition related to acquisition (initial measurement) 3,440 Payments made during the period ( 3,500 ) Change in fair value during the period ( 1,099 ) Currency translation adjustment ( 2 ) Balance as of December 31, 2020 2,451 Payments made during the period ( 406 ) Change in fair value during the period ( 1,485 ) Balance as of December 31, 2021 $ 560 |
Disaggregation of Revenue by Product and Geographic Area | Revenues by product . The following table represents total net revenues by product line: Years ended December 31, 2021 2020 2019 Infectious disease testing $ 54,645 $ 54,227 $ 58,016 Risk assessment testing 9,678 9,194 12,189 Cryosurgical systems - - 7,054 Genomics (1) 63,350 36,878 56,200 Microbiome (1) 7,944 5,474 7,172 COVID-19 (1) 76,874 50,927 - Laboratory services 11,840 8,746 6,767 Other product and service revenues 2,566 935 675 Net product and services revenues 226,897 166,381 148,073 Royalty income 4,420 3,432 5,116 Other non-product revenues 2,357 1,908 1,416 Other revenues 6,777 5,340 6,532 Net revenues $ 233,674 $ 171,721 $ 154,605 (1) 2020 Genomics, Microbiome, and COVID-19 revenues were reclassified to reflect the correct classification of the product line sales. The reclassification increased (decreased) the product line revenues for the year ended December 31, 2020 by $( 263 ), $( 682 ), and $ 945 , respectively. Revenues by geographic area . The following table represents total net revenues by geographic area, based on the location of the customer: Years ended December 31, 2021 2020 2019 United States $ 188,383 $ 130,835 $ 107,279 Europe 13,799 12,068 11,752 Other regions 31,492 28,818 35,574 $ 233,674 $ 171,721 $ 154,605 |
Computations of Basic and Diluted Earnings Per Share | The computations of basic and diluted earnings (loss) per share are as follows: Years ended December 31, 2021 2020 2019 Net income (loss) $ ( 22,998 ) $ ( 14,922 ) $ 16,656 Weighted-average shares of common stock outstanding: Basic 71,981 67,505 61,675 Dilutive effect of stock options, restricted stock, and performance stock units — — 495 Diluted 71,981 67,505 62,170 Earnings (loss) per share: Basic $ ( 0.32 ) $ ( 0.22 ) $ 0.27 Diluted $ ( 0.32 ) $ ( 0.22 ) $ 0.27 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Summary of Change in Contingent Consideration | The following table represents the change in contingent consideration: Balance as of January 1, 2019 $ — Addition related to acquisition (initial measurement) 4,350 Change in fair value during the period ( 664 ) Currency translation adjustment ( 74 ) Balance as of December 31, 2019 3,612 Addition related to acquisition (initial measurement) 3,440 Payments made during the period ( 3,500 ) Change in fair value during the period ( 1,099 ) Currency translation adjustment ( 2 ) Balance as of December 31, 2020 2,451 Payments made during the period ( 406 ) Change in fair value during the period ( 1,485 ) Balance as of December 31, 2021 $ 560 |
Summary of Unaudited Pro Forma Financial Information | The unaudited pro forma results presented below include the results of the UrSure, Diversigen, CoreBiome and Novosanis acquisitions as if they had been consummated as of January 1, 2019. The unaudited pro forma results include the amortization associated with acquired intangible assets and the estimated tax effect of adjustments to income before income taxes but do not include changes in the fair value of our contingent consideration obligations. Material nonrecurring charges, directly attributable to the transactions, including direct acquisition costs, are also excluded. In addition, the unaudited pro forma results do not include any expected benefits of the acquisitions. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of January 1, 2019. Year Ended December 31, 2020 2019 Revenue $ 172,563 $ 159,632 Net income (loss) ( 14,937 ) 16,261 Net income (loss) per share, basic ( 0.22 ) 0.26 Net income (loss) per share, diluted ( 0.22 ) 0.26 |
UrSure Inc [Member] | |
Summary of Change in Contingent Consideration | The following table represents the change in contingent consideration: Estimated fair value of contingent consideration as of acquisition date $ 3,440 Change in fair value during the period ( 989 ) Balance as of December 31, 2020 2,451 Payments made during the period ( 406 ) Change in fair value during the period ( 1,485 ) Balance as of December 31, 2021 $ 560 |
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date: Assets Acquired Accounts receivable $ 285 Other current assets 24 Other assets 6 Intangibles 3,600 Goodwill 3,586 Total assets acquired 7,501 Liabilities Assumed Current liabilities 335 Deferred tax liability 689 Total liabilities assumed 1,024 Net Assets Acquired 6,477 Estimated fair value of contingent consideration ( 3,440 ) Net Cash Paid (net of cash acquired of $ 111 ) $ 3,037 |
Diversigen, Inc. [Member] | |
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as of the acquisition date: Assets Acquired Accounts receivable $ 1,234 Other current assets 45 Property, plant, and equipment, net 1,916 Acquired intangible assets 3,560 Goodwill 6,317 Total assets acquired 13,072 Liabilities Assumed Current liabilities 1,123 Deferred tax liability 598 Other long-term liabilities 893 Total liabilities assumed 2,614 Net Assets Acquired 10,458 Estimated fair value of contingent consideration - Net Cash Paid (net of cash acquired of $ 479 ) $ 10,458 |
Summary of Identifiable Intangible Assets Subject to Amortization on Straight-line Basis and Being Amortized over Estimated Useful Lives | The identifiable intangible assets included customer relationships and tradenames, all of which are subject to amortization on a straight-line basis and are being amortized over estimated useful lives as summarized below: Estimated Useful Description Life (in years) Amount Customer relationships 10 2,900 Tradenames 9 660 Total acquired intangibles $ 3,560 |
Corebiome Inc. and Novosanis NV [Member] | |
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date: Assets Acquired Accounts receivable $ 791 Inventories 310 Other current assets 82 Property, plant, and equipment, net 414 Other assets 5 Acquired intangible assets 8,400 Goodwill 10,368 Total assets acquired 20,370 Liabilities Assumed Current liabilities 1,180 Notes payable, short-term 730 Deferred tax liability 819 Other long-term liabilities 74 Total liabilities assumed 2,803 Net Assets Acquired 17,567 Estimated fair value of contingent consideration ( 4,350 ) Net Cash Paid (net of cash acquired of $ 103 ) $ 13,217 |
Summary of Identifiable Intangible Assets Subject to Amortization on Straight-line Basis and Being Amortized over Estimated Useful Lives | The identifiable intangible assets principally included developed technology, customer relationships, and tradenames, all of which are subject to amortization on a straight-line basis and are being amortized over estimated useful lives as summarized below: Estimated Useful Description Life (in years) Amount Developed Technology 10 $ 5,000 Customer relationships 10 2,200 Tradenames 8.34 1,200 Total acquired intangibles $ 8,400 |
Government Capital Contracts (T
Government Capital Contracts (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Government Contracts Balance Included in Consolidated Balance Sheet | The balances corresponding to government contracts included in our consolidated balance sheet as of December 31, 2021, are as follows: December 31, Other current assets: Billed receivables $ 9,913 Unbilled receivables 9,716 Total other current assets 19,629 Property, plant and equipment, net: Cost of assets 11,495 Reduction for funding earned, not yet received ( 10,964 ) Reduction for funding received ( 531 ) Total property, plant and equipment, net - Accrued expenses and other current liabilities ( 8,103 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventories | December 31, 2021 2020 Raw materials $ 33,168 $ 15,425 Work in process 2,252 2,572 Finished goods 17,718 13,866 $ 53,138 $ 31,863 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | December 31, 2021 2020 Land $ 1,118 $ 1,118 Buildings and improvements 35,420 26,480 Machinery and equipment 57,919 36,878 Computer equipment and software 14,700 13,024 Furniture and fixtures 4,228 3,545 Construction in progress 35,936 24,419 149,321 105,464 Less accumulated depreciation ( 61,157 ) ( 53,604 ) $ 88,164 $ 51,860 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following table represents total goodwill by operating segment: December 31, 2021 2020 Diagnostics $ 3,604 $ 3,586 Molecular Solutions 36,675 36,765 $ 40,279 $ 40,351 The changes in goodwill are as follows: December 31, 2021 2020 Balance as of January 1 40,351 36,201 Goodwill acquired during the year — 3,586 Purchase price adjustment 18 ( 126 ) Change related to foreign currency translation ( 90 ) 690 Balance as of December 31 $ 40,279 $ 40,351 |
Summary of Intangible Assets | Intangible assets consist of the following: December 31, 2021 Amortization Gross Accumulated Amortization Net Customer relationships 10 $ 15,016 $ ( 11,205 ) $ 3,811 Patents and product rights 5 7,785 ( 6,241 ) 1,544 Developed technology 7 - 10 16,293 ( 9,725 ) 6,568 Tradename 5 - 15 5,661 ( 3,241 ) 2,420 $ 44,755 $ ( 30,412 ) $ 14,343 December 31, 2020 Amortization Gross Accumulated Net Customer relationships 10 $ 14,997 $ ( 9,685 ) $ 5,312 Patents and product rights 5 7,766 ( 5,792 ) 1,974 Developed technology 7 - 10 16,603 ( 8,880 ) 7,723 Tradename 5 - 15 5,645 ( 2,750 ) 2,895 $ 45,011 $ ( 27,107 ) $ 17,904 |
Summary of Amortization Expense | Amortization expense for each of the five succeeding fiscal years and beyond is estimated as follows: 2022 2,305 2023 2,305 2024 2,265 2025 2,012 2026 1,630 Beyond 3,826 $ 14,343 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Expenses | December 31, 2021 2020 Payroll and related benefits $ 15,570 $ 14,769 Commitment to purchase under government contract 8,103 — Professional fees 3,335 978 Sales tax payable 2,227 2,400 Other 4,543 4,080 $ 33,778 $ 22,227 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Lessee Disclosure [Abstract] | |
Summary of Components of Lease Expense | The components of lease expense are as follows: Years ended December 31, 2021 2020 2019 Operating lease cost $ 2,226 $ 1,291 $ 964 Variable lease cost 201 — — Finance lease cost: Amortization of right-of use assets 900 627 410 Interest on lease liabilities 82 72 36 Total finance lease cost 982 699 446 Total lease cost $ 3,409 $ 1,990 $ 1,410 |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases is as follows: Years ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,733 $ 1,280 $ 937 Operating cash flows from financing leases 82 72 33 Financing cash flows from financing leases 686 687 442 Non-cash activity: Right-of-use assets obtained in exchange for operating lease obligations 6,480 498 1,829 Right-of-use assets obtained in exchange for finance lease obligations 2,074 46 2,069 |
Summary of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is as follows: December 31, 2021 2020 Operating Leases Right-of-use assets $ 9,056 $ 4,461 Lease liabilities: Current lease liabilities 2,181 1,125 Non-current lease liabilities 7,202 3,591 Total operating lease liabilities $ 9,383 $ 4,716 Finance Leases Right-of-use assets $ 2,493 $ 1,312 Lease liabilities: Current lease liabilities 939 517 Non-current lease liabilities 1,952 895 Total finance lease liabilities $ 2,891 $ 1,412 |
Summary of Lease Term and Discount Rate | Weighted Average Remaining Lease Term Weighted-average remaining lease term—operating leases 5.26 years 4.45 years Weighted-average remaining lease term—finance leases 2.21 years 2.67 years Weighted Average Discount Rate Weighted-average discount rate—operating leases 3.90 % 4.28 % Weighted-average discount rate—finance leases 3.57 % 4.35 % |
Schedule of Minimum Lease Payments by Period Expected | As of December 31, 2021, minimum lease payments by period are expected to be as follows: Finance Operating 2022 815 2,494 2023 946 1,775 2024 1,275 1,807 2025 — 1,442 2026 — 1,215 Thereafter — 1,592 Total minimum lease payments 3,036 10,325 Less: imputed interest ( 145 ) ( 942 ) Present value of lease liabilities $ 2,891 $ 9,383 In January 2022, we entered into an |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income (Loss) Before Income Tax Expense (Benefit) | Income (loss) before income tax expense consists of the following: Years Ended December 31, 2021 2020 2019 United States $ ( 60,500 ) $ ( 47,995 ) $ 3,106 Foreign 51,208 44,471 18,225 $ ( 9,292 ) $ ( 3,524 ) $ 21,331 |
Components of Income Tax Expense (Benefit) | The components of income tax expense are as follows: Years Ended December 31, 2021 2020 2019 Current Federal $ — $ — $ — State 163 ( 106 ) 1,033 Foreign 12,517 11,896 5,099 12,680 11,790 6,132 Deferred Federal ( 10,318 ) ( 20,946 ) 3,568 State ( 965 ) ( 1,053 ) 125 Foreign ( 151 ) ( 410 ) ( 697 ) ( 11,434 ) ( 22,409 ) 2,996 Increase (decrease) in valuation allowance 12,460 22,017 ( 4,453 ) 1,026 ( 392 ) ( 1,457 ) Total income tax expense $ 13,706 $ 11,398 $ 4,675 |
Reconciliation of Statutory United States Federal Income Tax Rate to Domestic Effective Tax Rate | A reconciliation of the statutory United States federal income tax rate to our effective tax rate for each of the years ended December 31, 2021, 2020, and 2019 is as follows: 2021 2020 2019 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % GILTI tax — — 16.9 Nondeductible executive compensation ( 6.1 ) ( 0.9 ) 0.4 Impact of share-based payment awards ( 3.3 ) ( 12.4 ) ( 5.3 ) Tax effect of foreign items ( 30.8 ) ( 70.7 ) 4.5 State income taxes, net of federal benefit 6.8 26.0 4.0 U.S. and foreign tax credits 2.5 34.9 ( 1.1 ) Nondeductible transaction costs - ( 2.8 ) 1.6 Nondeductible expenses and other ( 4.0 ) ( 2.6 ) 0.4 NOL adjustment due to change in GILTI regulations — 308.9 — Change in valuation allowance, federal and state ( 133.6 ) ( 624.8 ) ( 20.5 ) Effective tax rate ( 147.5 ) % ( 323.4 ) % 21.9 % |
Components of Total Deferred Tax Assets (Liabilities) | Significant components of our deferred tax assets (liabilities) as of December 31, 2021 and 2020 are as follows: 2021 2020 Deferred tax assets (liabilities): Net operating loss carryforwards $ 44,191 $ 31,701 Inventories 4,642 1,593 Capitalized research and development costs 453 746 Accruals and reserves currently not deductible 3,245 3,200 Acquired intangible assets ( 3,117 ) ( 3,870 ) Depreciation and amortization ( 8,536 ) ( 2,804 ) Right-of-use assets ( 2,777 ) ( 2,415 ) Lease liabilities 2,957 2,524 Stock-based compensation 1,891 1,354 Tax credit carryforwards 3,855 3,354 Net deferred tax asset 46,804 35,383 Valuation allowance ( 49,038 ) ( 36,578 ) Net deferred tax liability $ ( 2,234 ) $ ( 1,195 ) |
Expiry Details of Federal Net Operating Losses Carryforwards | Our Federal NOL carryforwards expire as follows: Year of Expiration NOLs 2022 - 2032 $ 38,444 2033 - 2037 26,631 Non-Expiring 122,920 $ 187,995 |
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of our unrecognized tax benefits is as follows: 2021 2020 2019 Balance as of January 1 $ 1,172 $ 1,308 $ 1,676 Additions for tax positions of prior periods 1 1 4 Reductions for tax positions of prior periods ( 368 ) ( 137 ) ( 372 ) Balance as of December 31 $ 805 $ 1,172 $ 1,308 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Weighted-Average Assumptions for Fair Value Measurement | The fair value of each stock option was estimated on the date of the grant using the Black-Scholes option-pricing model using the following weighted-average assumptions: Years Ended December 31, Black-Scholes Option Valuation Assumptions 2021 2020 2019 Risk-free interest rate (1) 0.47 % 1.33 % 2.52 % Expected dividend yield — — — Expected stock price volatility (2) 50 % 42 % 41 % Expected life of stock options (in years) (2) 4 5 5 (1) Based on the constant maturity interest rate of U.S. Treasury securities whose term is consistent with the expected life of our stock options. (2) Based upon historical experience. |
Schedule of Compensation Expense Recognized in Financial Statements Related to Stock Options | Compensation expense recognized in the financial statements related to stock options was as follows: Years Ended December 31, 2021 2020 2019 Total compensation cost during the year $ 1,063 $ 892 $ 1,161 Amounts capitalized into inventory during the year ( 538 ) ( 466 ) ( 343 ) Amounts recognized in cost of products sold for amounts previously capitalized 502 360 405 Amounts charged against income $ 1,027 $ 786 $ 1,223 |
Summary of Company's Stock Option Activity | The following table summarizes the stock option activity under the Stock Plan: Options Weighted- Weighted- Aggregate Intrinsic Value Outstanding on January 1, 2021 1,232 $ 10.12 Granted 366 13.68 Exercised ( 33 ) 7.50 Expired ( 88 ) 15.80 Forfeited ( 67 ) 10.67 Outstanding on December 31, 2021 1,410 $ 10.73 6.88 $ 1,113 Vested or expected to vest as of December 31, 2021 1,378 $ 10.68 6.84 $ 1,081 Exercisable on December 31, 2021 786 $ 10.39 5.43 $ 729 |
Schedule of Currently Outstanding and Exercisable Stock Options | The following table summarizes information about stock options outstanding as of December 31, 2021: Options outstanding Options exercisable Range of exercise prices Number Weighted- Weighted- Number Weighted- $ 5.37 -$ 8.24 588 6.7 $ 6.92 353 $ 6.75 $ 8.87 -$ 13.31 437 6.4 10.59 282 10.67 $ 14.95 -$ 22.43 385 7.8 16.70 151 18.37 1,410 6.9 $ 10.73 786 $ 10.39 |
Summary of Restricted Stock Award and Restricted Stock Units Activity Under Stock Plan | The following table summarizes restricted stock award and restricted stock units activity under the Stock Plan: Units Weighted- Issued and unvested, January 1, 2021 659 $ 9.95 Granted 454 13.23 Vested ( 328 ) 10.84 Forfeited ( 84 ) 11.02 Issued and unvested, December 31, 2021 701 $ 11.53 Issued and expected to vest, December 31, 2021 638 $ 11.32 |
Performance Based Restricted Stock Unit [Member] | |
Summary of Performance Based Restricted Stock Unit Award Activity Under Stock Plan | The following table summarizes PSU activity under the Stock Plan: Units Weighted- Issued and unvested, January 1, 2021 651 $ 11.30 Granted (1) 182 10.99 Performance adjustment (2) 41 N/A Vested ( 123 ) 16.66 Forfeited ( 129 ) 14.28 Issued and unvested, December 31, 2021 622 $ 9.88 Issued and expected to vest, December 31, 2021 470 $ 9.56 (1) Grant activity for all PSUs disclosed at target. (2) Reflects the performance adjustment based on actual performance measured at the end of the performance period. |
Business Segment Information (T
Business Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Summary of Operating Segment and Asset Information | The following table summarizes operating segment information for the years ended December 31, 2021, 2020, and 2019, and asset information as of December 31, 2021 and 2020: Years ended December 31, 2021 2020 2019 Net revenues: Diagnostics $ 90,040 $ 65,240 $ 78,225 Molecular Solutions 143,634 106,481 76,380 Total $ 233,674 $ 171,721 $ 154,605 Operating income (loss): Diagnostics $ ( 57,177 ) $ ( 43,156 ) $ 154 Molecular Solutions 47,013 37,979 18,457 Total $ ( 10,164 ) $ ( 5,177 ) $ 18,611 Depreciation and amortization: Diagnostics $ 4,325 $ 3,345 $ 3,039 Molecular Solutions 7,333 6,042 4,300 Total $ 11,658 $ 9,387 $ 7,339 Capital expenditures: Diagnostics (1) $ 26,994 $ 17,860 $ 6,073 Molecular Solutions 9,628 8,814 3,241 Total $ 36,622 $ 26,674 $ 9,314 (1) Excludes $ 11,495 for purchases of property and equipment under government contracts for the year ended December 31, 2021. December 31, 2021 2020 Total assets: Diagnostics $ 209,674 $ 242,613 Molecular Solutions 251,316 211,859 Total $ 460,990 $ 454,472 |
Presentation of Total Long-Lived Assets by Geographic Area | The following table represents total long-lived assets by geographic area: December 31, 2021 2020 United States $ 76,232 $ 36,897 Canada 11,003 10,616 Other regions 929 4,347 $ 88,164 $ 51,860 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Outstanding Non-cancelable Purchase Commitments | As of December 31, 2021, we had outstanding non-cancelable purchase commitments related to inventory, supplies, capital expenditures, and other goods or services as follows: 2022 36,721 2023 25,429 2024 16,934 2025 8,667 2026 — $ 87,751 |
Schedule of Base Salary for Continuing Employment Agreement | Under terms of employment agreements with certain employees, which extend through 2024, we are required to pay each individual a base salary for continuing employment with us as follows: 2022 $ 2,911 2023 821 2024 426 2025 — 2026 — $ 4,158 |
The Company - Additional Inform
The Company - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021Segment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of Segments of company | 2 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Income taxes paid | $ 13,727 | $ 9,263 | $ 10,611 |
Increase or decrease in allowance for doubtful accounts | (253) | 941 | 2,248 |
Write-offs against allowance for doubtful accounts | 115 | 501 | 110 |
Accruals for purchases of property and equipment | 8,166 | 802 | 660 |
Provision for expected credit losses for available-for-sale securities | 98 | ||
Cash and cash equivalents | 116,762 | 160,802 | |
Fair value of plan assets | 1,763 | 2,565 | |
Deferred revenue | $ 2,936 | 4,811 | |
Contract with customer payment terms, description | Payment terms differ by jurisdiction and customer but payment is generally required in a term ranging from 30 to 120 days from date of shipment or satisfaction of the performance obligation. | ||
Advertising expenses | $ 5,103 | 1,126 | 468 |
Net foreign exchange (losses) gains | (667) | (337) | $ (1,339) |
Accumulated foreign currency adjustments included in other comprehensive loss amounted | 9,643 | 8,749 | |
Unrealized loss on marketable securities | 434 | 348 | |
Long-term Contract [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Deferred revenue | 1,093 | 1,595 | |
Money Market Fund [Member] | Level I Instruments [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cash and cash equivalents | $ 1,160 | $ 71,489 | |
Common Stock Options Unvested Restricted Stock and Unvested Performance Units [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Number of anti-dilutive securities excluded from EPS computation | 769 | 984 | 768 |
Up Front Payment Arrangement [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Deferred revenue | $ 1,843 | $ 3,216 | |
Customer [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Percentage of concentration risk | 11.00% | ||
Customer [Member] | Net Consolidated Revenue [Member] | Customer Concentration Risk [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Percentage of concentration risk | 15.00% | ||
Cost of Products and Service Sold [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Employee retention credit | 2,536 | ||
Research and Development [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Employee retention credit | 1,134 | ||
Sales and Marketing [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Employee retention credit | 924 | ||
General and Administrative Costs [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Employee retention credit | $ 1,134 | ||
Buildings [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 20 years | ||
Minimum [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Intangible Assets, Amortization Period (Years) | 5 years | ||
Contract with customer payment terms | 30 days | ||
Minimum [Member] | Computer Equipment and Software [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 2 years | ||
Minimum [Member] | Machinery and Equipment [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 2 years | ||
Minimum [Member] | Furniture and Fixtures [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 2 years | ||
Maximum [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Intangible Assets, Amortization Period (Years) | 15 years | ||
Contract with customer payment terms | 120 days | ||
Sales commissions amortization period | 1 year | ||
Maximum [Member] | Computer Equipment and Software [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 10 years | ||
Maximum [Member] | Machinery and Equipment [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 10 years | ||
Maximum [Member] | Furniture and Fixtures [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Estimated useful lives of assets | 10 years | ||
Internal Revenue Service (IRS) [Member] | Other Current Assets [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Amount due from Internal Revenue Services | $ 5,728 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Available-for-sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 53,722 | $ 96,665 |
Gross Unrealized Gains | 135 | |
Gross Unrealized Losses | (434) | (483) |
Fair Value | 53,288 | 96,317 |
Guaranteed Investment Certificates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 33,249 | 25,132 |
Fair Value | 33,249 | 25,132 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 20,473 | 71,533 |
Gross Unrealized Gains | 135 | |
Gross Unrealized Losses | (434) | (483) |
Fair Value | 20,039 | $ 71,185 |
Less Than One Year [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 36,386 | |
Gross Unrealized Losses | (107) | |
Fair Value | 36,279 | |
Greater Than One Year [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 17,336 | |
Gross Unrealized Losses | (327) | |
Fair Value | $ 17,009 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Change in Contingent Consideration (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Combination, Contingent Consideration Arrangements [Abstract] | |||
Beginning Balance | $ 2,451 | $ 3,612 | |
Addition related to acquisition (initial measurement) | 3,440 | $ 4,350 | |
Payments made during the period | (406) | (3,500) | |
Change in the estimated fair value of acquisition-related contingent consideration | (1,485) | (1,099) | (664) |
Currency translation adjustment | (2) | (74) | |
Ending Balance | $ 560 | $ 2,451 | $ 3,612 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Summary of Total Net Revenues by Product Line (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 233,674 | $ 171,721 | $ 154,605 |
Product and Services Revenues [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 226,897 | 166,381 | 148,073 |
Product and Services Revenues [Member] | Infectious Disease Testing [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 54,645 | 54,227 | 58,016 |
Product and Services Revenues [Member] | Risk Assessment Testing [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 9,678 | 9,194 | 12,189 |
Product and Services Revenues [Member] | Cryosurgical Systems [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 7,054 | ||
Product and Services Revenues [Member] | Genomics [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 63,350 | 36,878 | 56,200 |
Product and Services Revenues [Member] | Microbiome [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 7,944 | 5,474 | 7,172 |
Product and Services Revenues [Member] | COVID-19 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 76,874 | 50,927 | |
Product and Services Revenues [Member] | Laboratory Services [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 11,840 | 8,746 | 6,767 |
Product and Services Revenues [Member] | Other Product And Services Revenues [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 2,566 | 935 | 675 |
Other [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 6,777 | 5,340 | 6,532 |
Other [Member] | Royalty Income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 4,420 | 3,432 | 5,116 |
Other [Member] | Other Non Product Revenues [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 2,357 | $ 1,908 | $ 1,416 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Summary of Total Net Revenues by Product Line (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Net revenues | $ 233,674 | $ 171,721 | $ 154,605 |
Product and Services Revenues [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | 226,897 | 166,381 | 148,073 |
Product and Services Revenues [Member] | Genomics [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | 63,350 | 36,878 | 56,200 |
Product and Services Revenues [Member] | Genomics [Member] | Reclassification, Adjustment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | (263) | ||
Product and Services Revenues [Member] | Microbiome [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | 7,944 | 5,474 | $ 7,172 |
Product and Services Revenues [Member] | Microbiome [Member] | Reclassification, Adjustment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | (682) | ||
Product and Services Revenues [Member] | C O V I D19 [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | $ 76,874 | 50,927 | |
Product and Services Revenues [Member] | C O V I D19 [Member] | Reclassification, Adjustment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Net revenues | $ 945 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Summary of Total Net Revenues by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 233,674 | $ 171,721 | $ 154,605 |
United States [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 188,383 | 130,835 | 107,279 |
Europe [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 13,799 | 12,068 | 11,752 |
Other Regions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 31,492 | $ 28,818 | $ 35,574 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Computations of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |||
NET INCOME (LOSS) | $ (22,998) | $ (14,922) | $ 16,656 |
SHARES USED IN COMPUTING INCOME (LOSS) PER SHARE: | |||
Basic | 71,981 | 67,505 | 61,675 |
Dilutive effect of stock options, restricted stock, and performance stock units | 495 | ||
Diluted | 71,981 | 67,505 | 62,170 |
Basic | $ (0.32) | $ (0.22) | $ 0.27 |
Diluted | $ (0.32) | $ (0.22) | $ 0.27 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands | Jul. 22, 2020 | Nov. 08, 2019 | Jan. 04, 2019 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||||
Business acquisition contingent consideration, non-current | $ 354 | $ 2,049 | |||||
Net revenues | 233,674 | 171,721 | $ 154,605 | ||||
Net income (loss) | $ (22,998) | (14,922) | 16,656 | ||||
UrSure Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Purchase price | $ 3,000 | ||||||
Business acquisition contingent consideration, non-current | $ 28,000 | ||||||
Business combination contingent consideration expected payment period | 3 years | ||||||
Estimated fair value of contingent consideration | $ 3,440 | ||||||
Acquisition-related costs | 393 | ||||||
UrSure Inc [Member] | Developed Technology [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Intangible Assets, Amortization Period (Years) | 10 years | ||||||
Diversigen, Inc. [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Purchase price | $ 12,000 | ||||||
Business acquisition contingent consideration, non-current | $ 1,500 | ||||||
Acquisition-related costs | 1,198 | ||||||
Business combination contingent consideration expected payment year | 2020 | ||||||
Corebiome Inc. and Novosanis NV [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Purchase price | $ 13,320 | ||||||
Business acquisition contingent consideration, non-current | $ 32,400 | ||||||
Business combination contingent consideration expected payment period | 3 years | 1 year | |||||
Estimated fair value of contingent consideration | $ 4,350 | $ 0 | 3,612 | ||||
Acquisition-related costs | $ 639 | ||||||
Payment of acquisition-related contingent consideration | $ 3,500 | $ 3,500 | |||||
Corebiome Inc. and Novosanis NV [Member] | Developed Technology [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Intangible Assets, Amortization Period (Years) | 10 years |
Business Combinations - Summary
Business Combinations - Summary of Change in Contingent Consideration (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition, Contingent Consideration [Line Items] | |||
Beginning Balance | $ 2,451 | $ 3,612 | |
Payments made during the period | (406) | (3,500) | |
Change in fair value during the period | (1,485) | (1,099) | $ (664) |
Ending Balance | 560 | 2,451 | $ 3,612 |
Ur Sure Inc [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Beginning Balance | 2,451 | ||
Estimated fair value of contingent consideration as of acquisition date | 3,440 | ||
Payments made during the period | (406) | ||
Change in fair value during the period | (1,485) | (989) | |
Ending Balance | $ 560 | $ 2,451 |
Business Combinations - Summa_2
Business Combinations - Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Jul. 22, 2020 | Dec. 31, 2019 | Nov. 08, 2019 | Jan. 04, 2019 |
Assets Acquired | ||||||
Goodwill | $ 40,279 | $ 40,351 | $ 36,201 | |||
UrSure Inc [Member] | ||||||
Assets Acquired | ||||||
Accounts receivable | $ 285 | |||||
Other current assets | 24 | |||||
Other assets | 6 | |||||
Intangibles | 3,600 | |||||
Goodwill | 3,586 | |||||
Total assets acquired | 7,501 | |||||
Liabilities Assumed | ||||||
Current liabilities | 335 | |||||
Deferred tax liability | 689 | |||||
Total liabilities assumed | 1,024 | |||||
Net Assets Acquired | 6,477 | |||||
Estimated fair value of contingent consideration | (3,440) | |||||
Net Cash Paid | $ 3,037 | |||||
Diversigen, Inc. [Member] | ||||||
Assets Acquired | ||||||
Accounts receivable | $ 1,234 | |||||
Other current assets | 45 | |||||
Property, plant, and equipment, net | 1,916 | |||||
Intangibles | 3,560 | |||||
Goodwill | 6,317 | |||||
Total assets acquired | 13,072 | |||||
Liabilities Assumed | ||||||
Current liabilities | 1,123 | |||||
Deferred tax liability | 598 | |||||
Other long-term liabilities | 893 | |||||
Total liabilities assumed | 2,614 | |||||
Net Assets Acquired | 10,458 | |||||
Net Cash Paid | $ 10,458 | |||||
Corebiome Inc. and Novosanis NV [Member] | ||||||
Assets Acquired | ||||||
Accounts receivable | $ 791 | |||||
Inventories | 310 | |||||
Other current assets | 82 | |||||
Property, plant, and equipment, net | 414 | |||||
Other assets | 5 | |||||
Intangibles | 8,400 | |||||
Goodwill | 10,368 | |||||
Total assets acquired | 20,370 | |||||
Liabilities Assumed | ||||||
Current liabilities | 1,180 | |||||
Notes payable, short-term | 730 | |||||
Deferred tax liability | 819 | |||||
Other long-term liabilities | 74 | |||||
Total liabilities assumed | 2,803 | |||||
Net Assets Acquired | 17,567 | |||||
Estimated fair value of contingent consideration | $ 0 | $ (3,612) | (4,350) | |||
Net Cash Paid | $ 13,217 |
Business Combinations - Summa_3
Business Combinations - Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Thousands | Jul. 22, 2020 | Nov. 08, 2019 | Jan. 04, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||
Net of cash acquired | $ 3,037 | $ 23,801 | |||
UrSure Inc [Member] | |||||
Business Acquisition [Line Items] | |||||
Net of cash acquired | $ 111 | ||||
Diversigen, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Net of cash acquired | $ 479 | ||||
Corebiome Inc. and Novosanis NV [Member] | |||||
Business Acquisition [Line Items] | |||||
Net of cash acquired | $ 103 |
Business Combinations - Summa_4
Business Combinations - Summary of Identifiable Intangible Assets Subject to Amortization on Straight-line Basis and Being Amortized over Estimated Useful Lives (Detail) - USD ($) $ in Thousands | Nov. 08, 2019 | Jan. 04, 2019 | Dec. 31, 2021 | Dec. 31, 2020 |
Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Estimated Useful Life | 10 years | 10 years | ||
Diversigen, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 3,560 | |||
Diversigen, Inc. [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 2,900 | |||
Acquired intangibles, Estimated Useful Life | 10 years | |||
Diversigen, Inc. [Member] | Tradenames [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 660 | |||
Acquired intangibles, Estimated Useful Life | 9 years | |||
Corebiome Inc. and Novosanis NV [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 8,400 | |||
Corebiome Inc. and Novosanis NV [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 2,200 | |||
Acquired intangibles, Estimated Useful Life | 10 years | |||
Corebiome Inc. and Novosanis NV [Member] | Tradenames [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 1,200 | |||
Acquired intangibles, Estimated Useful Life | 8 years 4 months 2 days | |||
Corebiome Inc. and Novosanis NV [Member] | Developed Technology [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired intangibles, Amount | $ 5,000 | |||
Acquired intangibles, Estimated Useful Life | 10 years |
Business Combinations - Summa_5
Business Combinations - Summary of Unaudited Pro Forma Financial Information (Detail) - CoreBiome Inc. Diversign Novosanis NV and UrSure [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||
Revenue | $ 172,563 | $ 159,632 |
Net income (loss) | $ (14,937) | $ 16,261 |
Net income (loss) per share, basic | $ (0.22) | $ 0.26 |
Net income (loss) per share, diluted | $ (0.22) | $ 0.26 |
Sale of Cryosurgical Business -
Sale of Cryosurgical Business - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Aug. 16, 2019 | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Gain on sale of business | $ 10,149 | |
Proceeds from sale of business | 12,000 | |
Cryosurgical Systems [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Consideration receivable from sale of business | $ 12,000 | |
Gain on sale of business | 10,149 | |
Proceeds from sale of business | $ 12,000 |
Government Capital Contracts (A
Government Capital Contracts (Additional Information) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Government capital contracts funding amount | $ 109,000 | ||||
Proceeds from funding under government contract | $ 531 | ||||
Percentage withheld under government contracts subject to validation testing | 15.00% | ||||
Net revenues | $ 233,674 | $ 171,721 | $ 154,605 | ||
Subsequent Event | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Proceeds from funding under government contract | $ 15,428 | ||||
Other Income [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Net revenues | 6,777 | $ 5,340 | $ 6,532 | ||
Other Income [Member] | Government Contract [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Net revenues | $ 561 |
Government Capital Contracts -
Government Capital Contracts - Summary of Government Contracts Balance Included in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other current assets: | ||
Total other current assets | $ 28,990 | $ 4,934 |
Property, plant and equipment, net: | ||
Cost of assets | 149,321 | 105,464 |
Property plant and equipment Net | 88,164 | 51,860 |
Accrued expenses and other current liabilities | 33,778 | $ 22,227 |
Government Contract [Member] | ||
Other current assets: | ||
Billed receivables | 9,913 | |
Unbilled receivables | 9,716 | |
Total other current assets | 19,629 | |
Property, plant and equipment, net: | ||
Cost of assets | 11,495 | |
Reduction for funding earned, not yet received | (10,964) | |
Reduction for funding received | (531) | |
Property plant and equipment Net | 0 | |
Accrued expenses and other current liabilities | $ (8,103) |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Inventory, Net [Abstract] | ||
Raw materials | $ 33,168 | $ 15,425 |
Work in process | 2,252 | 2,572 |
Finished goods | 17,718 | 13,866 |
Inventories | $ 53,138 | $ 31,863 |
Inventories - Additional Inform
Inventories - Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Inventory [Line Items] | |||
Inventory adjustments | $ 13,400 | $ 2,564 | $ 1,318 |
COVID-19 Antibody | |||
Inventory [Line Items] | |||
Inventory adjustments | $ 3,008 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | $ 149,321 | $ 105,464 |
Less accumulated depreciation | (61,157) | (53,604) |
Property plant and equipment Net | 88,164 | 51,860 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 1,118 | 1,118 |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 35,420 | 26,480 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 57,919 | 36,878 |
Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 14,700 | 13,024 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 4,228 | 3,545 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | $ 35,936 | $ 24,419 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 7,498 | $ 5,514 | $ 4,421 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Schedule of Goodwill by Operating Segment (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill [Line Items] | |||
Goodwill | $ 40,279 | $ 40,351 | $ 36,201 |
Diagnostics [Member] | |||
Goodwill [Line Items] | |||
Goodwill | 3,604 | 3,586 | |
Molecular Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill | $ 36,675 | $ 36,765 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Schedule of Changes in Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Roll Forward] | ||
Beginning Balance | $ 40,351 | $ 36,201 |
Goodwill acquired during the year | 3,586 | |
Purchase price adjustment | 18 | (126) |
Change related to foreign currency translation | (90) | 690 |
Ending Balance | $ 40,279 | $ 40,351 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 44,755 | $ 45,011 |
Intangible Assets, Accumulated Amortization | (30,412) | (27,107) |
Intangible Assets, Net | $ 14,343 | $ 17,904 |
Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 5 years | |
Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 15 years | |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 10 years | 10 years |
Intangible Assets, Gross | $ 15,016 | $ 14,997 |
Intangible Assets, Accumulated Amortization | (11,205) | (9,685) |
Intangible Assets, Net | $ 3,811 | $ 5,312 |
Patents and Product Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 5 years | 5 years |
Intangible Assets, Gross | $ 7,785 | $ 7,766 |
Intangible Assets, Accumulated Amortization | (6,241) | (5,792) |
Intangible Assets, Net | 1,544 | 1,974 |
Developed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | 16,293 | 16,603 |
Intangible Assets, Accumulated Amortization | (9,725) | (8,880) |
Intangible Assets, Net | $ 6,568 | $ 7,723 |
Developed Technology [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 7 years | 7 years |
Developed Technology [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 10 years | 10 years |
Tradename [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 5,661 | $ 5,645 |
Intangible Assets, Accumulated Amortization | (3,241) | (2,750) |
Intangible Assets, Net | $ 2,420 | $ 2,895 |
Tradename [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 5 years | 5 years |
Tradename [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 15 years | 15 years |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 3,260 | $ 3,246 | $ 2,522 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets - Summary of Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2022 | $ 2,305 | |
2023 | 2,305 | |
2024 | 2,265 | |
2025 | 2,012 | |
2026 | 1,630 | |
Beyond | 3,826 | |
Intangible Assets, Net | $ 14,343 | $ 17,904 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued Liabilities, Current [Abstract] | ||
Payroll and related benefits | $ 15,570 | $ 14,769 |
Commitment to purchase under government contracts | 8,103 | |
Professional fees | 3,335 | 978 |
Sales tax payable | 2,227 | 2,400 |
Other | 4,543 | 4,080 |
Accrued expenses, Total | $ 33,778 | $ 22,227 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 31, 2022 | |
Lessee Lease Description [Line Items] | ||||
Lessee operating and financing lease existence of option to terminate | true | |||
Lessee operating and financing leases, period of options to terminate | 1 year | |||
Lessee, operating and finance lease, existence of option to extend | true | |||
Aggregate ROU asset and offsetting lease liability | $ 2,074 | $ 46 | $ 2,069 | |
Fixed rent payments to be paid over lease term | 10,325 | |||
Leases in Purchase Commitment [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Aggregate ROU asset and offsetting lease liability | $ 2,074 | |||
Minimum [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating and financing leases, remaining lease terms | 1 year | |||
Maximum [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating and financing leases, remaining lease terms | 7 years | |||
Subsequent Event [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating lease term | 124 months | |||
Subsequent Event [Member] | New Warehouse Lease [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Fixed rent payments to be paid over lease term | $ 7,154 |
Leases - Summary of Components
Leases - Summary of Components of Lease Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lease, Cost [Abstract] | |||
Operating lease cost | $ 2,226 | $ 1,291 | $ 964 |
Variable lease cost | 201 | ||
Finance Lease Cost | |||
Amortization of right-of use assets | 900 | 627 | 410 |
Interest on lease liabilities | 82 | 72 | 36 |
Total finance lease cost | 982 | 699 | 446 |
Total lease cost | $ 3,409 | $ 1,990 | $ 1,410 |
Leases - Summary of Supplementa
Leases - Summary of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | |||
Operating cash flows from operating leases | $ 3,733 | $ 1,280 | $ 937 |
Operating cash flows from financing leases | 82 | 72 | 33 |
Financing cash flows from financing leases | 686 | 687 | 442 |
Non-cash activity | |||
Right-of-use assets obtained in exchange for operating lease obligations | 6,480 | 498 | 1,829 |
Right-of-use assets obtained in exchange for finance lease obligations | $ 2,074 | $ 46 | $ 2,069 |
Leases - Summary of Supplemen_2
Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Operating Leases | ||
Right-of-use assets | $ 9,056 | $ 4,461 |
Lease liabilities: | ||
Current lease liabilities | 2,181 | 1,125 |
Non-current lease liabilities | 7,202 | 3,591 |
Total operating lease liabilities | 9,383 | 4,716 |
Finance Leases | ||
Right-of-use assets | 2,493 | 1,312 |
Lease liabilities: | ||
Current lease liabilities | 939 | 517 |
Non-current lease liabilities | 1,952 | 895 |
Total finance lease liabilities | $ 2,891 | $ 1,412 |
Leases - Summary of Lease Term
Leases - Summary of Lease Term and Discount Rate (Detail) | Dec. 31, 2021 | Dec. 31, 2020 |
Weighted Average Remaining Lease Term | ||
Weighted-average remaining lease term—operating leases | 5 years 3 months 3 days | 4 years 5 months 12 days |
Weighted-average remaining lease term—finance leases | 2 years 2 months 15 days | 2 years 8 months 1 day |
Weighted Average Discount Rate | ||
Weighted-average discount rate—operating leases | 3.90% | 4.28% |
Weighted-average discount rate—finance leases | 3.57% | 4.35% |
Leases - Schedule of Minimum Le
Leases - Schedule of Minimum Lease Payments by Period Expected (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Finance Lease Liabilities, Payments, Due [Abstract] | ||
2022 | $ 815 | |
2023 | 946 | |
2024 | 1,275 | |
Total minimum finance lease payments | 3,036 | |
Less: imputed interest | (145) | |
Present Value of Finance Lease Liabilities | 2,891 | $ 1,412 |
Operating Lease Liabilities, Payments Due [Abstract] | ||
2022 | 2,494 | |
2023 | 1,775 | |
2024 | 1,807 | |
2025 | 1,442 | |
2026 | 1,215 | |
Thereafter | 1,592 | |
Total Minimum Operating Lease Payments | 10,325 | |
Less: imputed interest | (942) | |
Present Value of Operating Lease Liabilities | $ 9,383 | $ 4,716 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income (Loss) Before Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest [Abstract] | |||
United States | $ (60,500) | $ (47,995) | $ 3,106 |
Foreign | 51,208 | 44,471 | 18,225 |
Income (loss) before income taxes | $ (9,292) | $ (3,524) | $ 21,331 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 163,000 | (106,000) | 1,033,000 |
Foreign | 12,517,000 | 11,896,000 | 5,099,000 |
Total current income tax expense (benefit) | 12,680,000 | 11,790,000 | 6,132,000 |
Deferred | |||
Federal | (10,318,000) | (20,946,000) | 3,568,000 |
State | (965,000) | (1,053,000) | 125,000 |
Foreign | (151,000) | (410,000) | (697,000) |
Total deferred income tax expense (benefit) | (11,434,000) | (22,409,000) | 2,996,000 |
Increase (decrease) in valuation allowance | 12,460,000 | 22,017,000 | (4,453,000) |
Deferred income taxes | 1,026,000 | (392,000) | (1,457,000) |
Total income tax expense | $ 13,706,000 | $ 11,398,000 | $ 4,675,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Contingency [Line Items] | |||||
Foreign income tax expense | $ 13,543,000 | $ 12,185,000 | $ 4,607,000 | ||
U.S. federal income tax benefits | 0 | 0 | 0 | ||
Gross unrecognized tax benefits | $ 805,000 | $ 1,172,000 | $ 1,308,000 | $ 1,676,000 | |
Subsequent Event [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Foreign earnings repatriated | $ 65,000,000 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Statutory United States Federal Income Tax Rate to Domestic Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory U.S. federal income tax rate | 21.00% | 21.00% | 21.00% |
GILTI tax | 16.90% | ||
Nondeductible executive compensation | (6.10%) | (0.90%) | 0.40% |
Impact of share-based payment awards | (3.30%) | (12.40%) | (5.30%) |
Tax effect of foreign items | (30.80%) | (70.70%) | 4.50% |
State income taxes, net of federal benefit | 6.80% | 26.00% | 4.00% |
U.S. and foreign tax credits | 2.50% | 34.90% | (1.10%) |
Nondeductible transaction costs | (2.80%) | 1.60% | |
Nondeductible expenses and other | (4.00%) | (2.60%) | 0.40% |
NOL adjustment due to change in GILTI regulations | 308.90% | ||
Change in valuation allowance, federal and state | (133.60%) | (624.80%) | (20.50%) |
Effective tax rate | (147.50%) | (323.40%) | 21.90% |
Income Taxes - Components of To
Income Taxes - Components of Total Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets (liabilities): | ||
Net operating loss carryforwards | $ 44,191 | $ 31,701 |
Inventories | 4,642 | 1,593 |
Capitalized research and development costs | 453 | 746 |
Accruals and reserves currently not deductible | 3,245 | 3,200 |
Acquired intangible assets | (3,117) | (3,870) |
Depreciation and amortization | (8,536) | (2,804) |
Right-of-use assets | (2,777) | (2,415) |
Lease liabilities | 2,957 | 2,524 |
Stock-based compensation | 1,891 | 1,354 |
Tax credit carryforwards | 3,855 | 3,354 |
Net deferred tax asset | 46,804 | 35,383 |
Valuation allowance | (49,038) | (36,578) |
Net deferred tax liability | $ (2,234) | $ (1,195) |
Income Taxes - Expiry Details o
Income Taxes - Expiry Details of Federal Net Operating Losses Carryforwards (Detail) $ in Thousands | Dec. 31, 2021USD ($) |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 187,995 |
2022 - 2032 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 38,444 |
2033- 2037 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 26,631 |
Non-Expiring [Member] | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 122,920 |
Income Taxes - Reconciliation_2
Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance as of January 1 | $ 1,172 | $ 1,308 | $ 1,676 |
Additions for tax positions of prior periods | 1 | 1 | 4 |
Reductions for tax positions of prior periods | (368) | (137) | (372) |
Balance as of December 31 | $ 805 | $ 1,172 | $ 1,308 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | Jun. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Aug. 05, 2008 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares available for future grants under the Stock Plan | 4,613,000 | ||||
Amount share repurchase program of common shares | $ 25,000,000 | ||||
Total cost of common stock purchased and retired | $ 2,113,000 | $ 2,088,000 | $ 3,712,000 | ||
Proceeds from exercise of stock options | 246,000 | 3,222,000 | 196,000 | ||
Income tax benefit realized from stock option exercises during period | 0 | 0 | 0 | ||
Total compensation cost | $ 7,807,000 | $ 7,139,000 | $ 4,057,000 | ||
Public Offering [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Issuance of common stock in connection with public offering, net of commissions and expenses of $6,200, Shares | 8,000,000 | ||||
Public offering price per share | $ 11 | ||||
Net offering proceeds after deducting underwriting discount and commission and offering expenses | $ 95,000,000 | ||||
Over-Allotment Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Underwriters option exercisable period | 30 days | ||||
Underwriters option to purchase additional shares | 1,200,000 | ||||
Share Repurchase Program [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares purchased and retired | 0 | 0 | 0 | ||
Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percent of the fair market value of a share granted as Stock plan price | 75.00% | ||||
Granted exercise periods | 10 years | ||||
Vesting period | 4 years | ||||
Vesting of Options | Options generally vest over four years, with one quarter of the options vesting one year after grant and the remainder vesting on a monthly basis over the next three years. | ||||
Weighted-average grant date fair value of stock options granted | $ 6.14 | $ 2.79 | $ 5.19 | ||
Aggregate intrinsic value of options exercised | $ 130,000 | $ 3,117,000 | $ 92,000 | ||
Unrecognized compensation expense related to unvested option awards | $ 2,571,000 | ||||
Expected weighted-average period for recognition of compensation expense related to unvested awards | 2 years 9 months 18 days | ||||
Proceeds from exercise of stock options | $ 246,000 | 3,222,000 | 196,000 | ||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Expected weighted-average period for recognition of compensation expense related to unvested awards | 1 year 10 months 24 days | ||||
Total compensation cost | $ 4,094,000 | $ 4,094,000 | $ 2,979,000 | ||
Unrecognized compensation expense related to unvested restricted stock awards | $ 4,640,000 | ||||
Vesting of restricted shares, withholding and exercise obligations | 107,000 | 127,000 | 76,000 | ||
Restricted shares of common stock, aggregate values | $ 1,417,000 | $ 1,219,000 | $ 949,000 | ||
Performance Based Restricted Stock [Member] | Share-based Compensation Award, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 1 year | ||||
Performance Based Restricted Stock [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 3 years | ||||
Performance Based Restricted Stock Unit [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares purchased and retired | 46,000 | 21,000 | 213,000 | ||
Total cost of common stock purchased and retired | $ 696,000 | $ 869,000 | $ 2,763,000 | ||
Expected weighted-average period for recognition of compensation expense related to unvested awards | 1 year 9 months 18 days | ||||
Total compensation cost | $ 2,650,000 | $ 2,153,000 | $ (83,000) | ||
Unrecognized compensation expense related to unvested restricted stock awards | $ 2,349,000 | ||||
Maximum [Member] | Performance Based Restricted Stock [Member] | Share-based Compensation Award, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percentage of actual performance share units granted | 200.00% | ||||
Minimum [Member] | Performance Based Restricted Stock [Member] | Share-based Compensation Award, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percentage of actual performance share units granted | 0.00% |
Stockholders' Equity - Weighted
Stockholders' Equity - Weighted-Average Assumptions for Fair Value Measurement (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Risk-free interest rate | 0.47% | 1.33% | 2.52% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected stock price volatility | 50.00% | 42.00% | 41.00% |
Expected life of stock options (in years) | 4 years | 5 years | 5 years |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Compensation Expense Recognized in Financial Statements Related to Stock Options (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract] | |||
Total compensation cost during the year | $ 1,063 | $ 892 | $ 1,161 |
Amounts capitalized into inventory during the year | (538) | (466) | (343) |
Amounts recognized in cost of products sold for amounts previously capitalized | 502 | 360 | 405 |
Amounts charged against income | $ 1,027 | $ 786 | $ 1,223 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Company's Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Options, Outstanding, Beginning Balance | shares | 1,232 |
Options, Granted | shares | 366 |
Options, Exercised | shares | (33) |
Options, Expired | shares | (88) |
Options, Forfeited | shares | (67) |
Options, Outstanding, Ending Balance | shares | 1,410 |
Weighted-Average Exercise Price Per Share, Outstanding, Beginning Balance | $ / shares | $ 10.12 |
Options, Vested or expected to vest | shares | 1,378 |
Weighted-Average Exercise Price Per Share, Granted | $ / shares | $ 13.68 |
Options, Exercisable | shares | 786 |
Weighted-Average Exercise Price Per Share, Exercised | $ / shares | $ 7.50 |
Weighted-Average Exercise Price Per Share, Expired | $ / shares | 15.80 |
Weighted-Average Exercise Price Per Share, Forfeited | $ / shares | 10.67 |
Weighted-Average Exercise Price Per Share, Outstanding, Ending Balance | $ / shares | 10.73 |
Weighted-Average Exercise Price Per Share, Vested or expected to vest | $ / shares | 10.68 |
Weighted-Average Exercise Price Per Share, Exercisable | $ / shares | $ 10.39 |
Weighted-Average Remaining Contractual Term, Outstanding | 6 years 10 months 17 days |
Weighted-Average Remaining Contractual Term, Vested or expected to vest | 6 years 10 months 2 days |
Weighted-Average Remaining Contractual Term, Exercisable | 5 years 5 months 4 days |
Aggregate Intrinsic Value, Outstanding | $ | $ 1,113 |
Aggregate Intrinsic Value, Vested or expected to vest | $ | 1,081 |
Aggregate Intrinsic Value, Exercisable | $ | $ 729 |
Stockholders' Equity - Schedu_2
Stockholders' Equity - Schedule of Currently Outstanding and Exercisable Stock Options (Detail) shares in Thousands | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number Outstanding, Options outstanding | shares | 1,410 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 6 years 10 months 24 days |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 10.73 |
Number Exercisable, Options exercisable | shares | 786 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 10.39 |
Range One [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, Lower Range Limit | 5.37 |
Range of exercise prices, Upper Range Limit | $ 8.24 |
Number Outstanding, Options outstanding | shares | 588 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 6 years 8 months 12 days |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 6.92 |
Number Exercisable, Options exercisable | shares | 353 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 6.75 |
Range Two [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, Lower Range Limit | 8.87 |
Range of exercise prices, Upper Range Limit | $ 13.31 |
Number Outstanding, Options outstanding | shares | 437 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 6 years 4 months 24 days |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 10.59 |
Number Exercisable, Options exercisable | shares | 282 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 10.67 |
Range Three [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, Lower Range Limit | 14.95 |
Range of exercise prices, Upper Range Limit | $ 22.43 |
Number Outstanding, Options outstanding | shares | 385 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 7 years 9 months 18 days |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 16.70 |
Number Exercisable, Options exercisable | shares | 151 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 18.37 |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summary of Restricted Stock Award and Restricted Stock Units Activity Under Stock Plan (Detail) - Restricted Stock Award and Restricted Stock Units [Member] shares in Thousands | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares, Issued and unvested, Beginning Balance | shares | 659 |
Shares, Granted | shares | 454 |
Shares, Vested | shares | (328) |
Shares, Forfeited | shares | (84) |
Shares, Issued and unvested, Ending Balance | shares | 701 |
Weighted-Average Grant Date Fair Value, Issued and unvested, Beginning Balance | $ / shares | $ 9.95 |
Shares, Issued and expected to vest | shares | 638 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | $ 13.23 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 10.84 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 11.02 |
Weighted-Average Grant Date Fair Value, Issued and unvested, Ending Balance | $ / shares | 11.53 |
Weighted-Average Grant Date Fair Value, Issued and expected to vest | $ / shares | $ 11.32 |
Stockholders' Equity - Summar_3
Stockholders' Equity - Summary of Performance Based Restricted Stock Unit Award Activity Under Stock Plan (Detail) - Performance Based Restricted Stock Unit [Member] shares in Thousands | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares, Issued and unvested, Beginning Balance | 651 |
Shares, Granted | 182 |
Performance adjustment | 41 |
Shares, Vested | (123) |
Shares, Forfeited | (129) |
Shares, Issued and unvested, Ending Balance | 622 |
Shares, Issued and expected to vest | 470 |
Weighted-Average Grant Date Fair Value, Issued and unvested, Beginning Balance | $ / shares | $ 11.30 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 10.99 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 16.66 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 14.28 |
Weighted-Average Grant Date Fair Value, Issued and unvested, Ending Balance | $ / shares | 9.88 |
Weighted-Average Grant Date Fair Value, Issued and expected to vest | $ / shares | $ 9.56 |
Transition Costs - Additional I
Transition Costs - Additional Information (Detail) $ in Thousands | Dec. 31, 2021USD ($) |
Transition Costs [Line Items] | |
Severance accrual | $ 1,569 |
Business Segment Information -
Business Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments of company | 2 |
Business Segment Information _2
Business Segment Information - Summary of Operating Segment and Asset Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Net revenues | $ 233,674 | $ 171,721 | $ 154,605 |
Operating income (loss) | (10,164) | (5,177) | 18,611 |
Depreciation and amortization | 11,658 | 9,387 | 7,339 |
Capital expenditures | 36,622 | 26,674 | 9,314 |
Total assets | 460,990 | 454,472 | |
Diagnostics [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 90,040 | 65,240 | 78,225 |
Operating income (loss) | (57,177) | (43,156) | 154 |
Depreciation and amortization | 4,325 | 3,345 | 3,039 |
Capital expenditures | 26,994 | 17,860 | 6,073 |
Total assets | 209,674 | 242,613 | |
Molecular Solutions [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 143,634 | 106,481 | 76,380 |
Operating income (loss) | 47,013 | 37,979 | 18,457 |
Depreciation and amortization | 7,333 | 6,042 | 4,300 |
Capital expenditures | 9,628 | 8,814 | $ 3,241 |
Total assets | $ 251,316 | $ 211,859 |
Business Segment Information _3
Business Segment Information - Summary of Operating Segment and Asset Information (Parenthetical) (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Segment Reporting Information [Line Items] | |
Purchases of property and equipment under government contracts | $ 11,495 |
Diagnostics [Member] | |
Segment Reporting Information [Line Items] | |
Purchases of property and equipment under government contracts | $ 11,495 |
Business Segment Information _4
Business Segment Information - Presentation of Total Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long-lived assets | $ 88,164 | $ 51,860 |
United States [Member] | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long-lived assets | 76,232 | 36,897 |
Canada [Member] | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long-lived assets | 11,003 | 10,616 |
Other Regions [Member] | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long-lived assets | $ 929 | $ 4,347 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Outstanding Non-cancelable Purchase Commitments (Detail) $ in Thousands | Dec. 31, 2021USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2022 | $ 36,721 |
2023 | 25,429 |
2024 | 16,934 |
2025 | 8,667 |
Total | $ 87,751 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
Estimated penalties to be incurred under minimum purchase commitments | $ 2,209 |
Commitments and Contingencies_3
Commitments and Contingencies - Schedule of Base Salary for Continuing Employment Agreement (Detail) - Employment Agreements [Member] $ in Thousands | Dec. 31, 2021USD ($) |
Contractual Obligation Fiscal Year Maturity [Line Items] | |
2022 | $ 2,911 |
2023 | 821 |
2024 | 426 |
Total | $ 4,158 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Employee contributions | $ 4,000 | ||
Contributed to plan, net of forfeitures | 1,295,000 | $ 994,000 | $ 754,000 |
Value of the assets associated with the plan | 1,763,000 | 2,565,000 | |
Total obligation under plan | 1,763,000 | 2,565,000 | |
RRSP [Member] | DNA Genotek [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employee contributions | 4,000 | ||
Contributed to plan, net of forfeitures | $ 448,000 | $ 366,000 | $ 184,000 |