Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 24, 2023 | Jun. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Year Focus | 2022 | ||
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 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 Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
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 Annual Report | true | ||
Document Transition Report | false | ||
Entity Public Float | $ 197,743,692 | ||
Entity Common Stock, Shares Outstanding | 73,244,807 | ||
Auditor Name | KPMG LLP | ||
Auditor Location | Philadelphia, PA | ||
Auditor Firm ID | 185 | ||
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 2023 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, 2022. Except with respect to information specifically incorporated by reference in the Annual Report on Form 10-K, the Definitive Proxy Statement is not deemed to be filed as part hereof. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash and cash equivalents | $ 83,980 | $ 116,762 |
Short-term investments | 26,867 | 36,279 |
Accounts receivable, net of allowance for doubtful accounts of $2,365 and $3,418 | 70,797 | 45,323 |
Inventories | 96,232 | 53,138 |
Prepaid expenses | 6,273 | 7,939 |
Other current assets | 41,569 | 39,865 |
Total current assets | 325,718 | 299,306 |
Noncurrent Assets: | ||
Property, plant and equipment, net | 59,413 | 73,435 |
Operating right-of-use assets, net | 10,399 | 9,056 |
Finance right-of-use assets, net | 1,293 | 2,493 |
Intangible assets, net | 11,694 | 14,343 |
Goodwill | 35,104 | 40,279 |
Long-term investments | 0 | 17,009 |
Other noncurrent assets | 1,087 | 5,069 |
Total noncurrent assets | 118,990 | 161,684 |
TOTAL ASSETS | 444,708 | 460,990 |
Current Liabilities: | ||
Accounts payable | 39,349 | 28,024 |
Deferred revenue | 2,273 | 2,936 |
Accrued expenses and other current liabilities | 25,762 | 33,778 |
Finance lease liability | 1,179 | 939 |
Operating lease liability | 1,764 | 2,181 |
Acquisition-related contingent consideration obligation | 65 | 206 |
Total current liabilities | 70,392 | 68,064 |
Noncurrent Liabilities: | ||
Finance lease liability | 503 | 1,952 |
Operating lease liability | 9,101 | 7,202 |
Acquisition-related contingent consideration obligation | 99 | 354 |
Other noncurrent liabilities | 581 | 651 |
Deferred income taxes | 408 | 2,234 |
Total noncurrent liabilities | 10,692 | 12,393 |
TOTAL LIABILITIES | 81,084 | 80,457 |
Commitments and contingencies (Note 14) | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock, par value $.000001, 25,000 shares authorized, none issued | ||
Common stock, par value $.000001, 120,000 shares authorized, 72,734 and 72,069 shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 520,446 | 511,063 |
Accumulated other comprehensive loss | (18,435) | (10,077) |
Accumulated deficit | (138,387) | (120,453) |
Total stockholders' equity | 363,624 | 380,533 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 444,708 | $ 460,990 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 2,365 | $ 3,418 |
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 | 72,734,000 | 72,069,000 |
Common stock, shares outstanding | 72,734,000 | 72,069,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
NET REVENUES: | |||
Total revenue | $ 387,479 | $ 233,674 | $ 171,721 |
COST OF PRODUCTS AND SERVICES SOLD | 239,842 | 116,074 | 69,853 |
Gross profit | 147,637 | 117,600 | 101,868 |
OPERATING EXPENSES: | |||
Research and development | 36,237 | 34,170 | 31,032 |
Sales and marketing | 49,238 | 44,751 | 34,459 |
General and administrative | 68,206 | 50,328 | 42,653 |
Loss on impairments | 17,101 | ||
Change in the estimated fair value of acquisition-related contingent consideration | (188) | (1,485) | (1,099) |
Total operating expenses | 170,594 | 127,764 | 107,045 |
Operating loss | (22,957) | (10,164) | (5,177) |
OTHER INCOME | 6,481 | 872 | 1,653 |
Loss before income taxes | (16,476) | (9,292) | (3,524) |
INCOME TAX EXPENSE | 1,458 | 13,706 | 11,398 |
NET LOSS | $ (17,934) | $ (22,998) | $ (14,922) |
LOSS PER SHARE: | |||
BASIC | $ (0.25) | $ (0.32) | $ 0.22 |
DILUTED | $ (0.25) | $ (0.32) | $ 0.22 |
SHARES USED IN COMPUTING LOSS PER SHARE: | |||
BASIC | 72,505 | 71,981 | 67,505 |
DILUTED | 72,505 | 71,981 | 67,505 |
Products and Services [Member] | |||
NET REVENUES: | |||
Total revenue | $ 378,047 | $ 226,897 | $ 166,381 |
Other Revenues [Member] | |||
NET REVENUES: | |||
Total revenue | $ 9,432 | $ 6,777 | $ 5,340 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | |||
NET LOSS | $ (17,934) | $ (22,998) | $ (14,922) |
OTHER COMPREHENSIVE LOSS | |||
Currency translation adjustments | (8,572) | (894) | 3,273 |
Unrealized gain (loss) on marketable securities | 214 | (86) | (234) |
COMPREHENSIVE LOSS | $ (26,292) | $ (23,978) | $ (11,883) |
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, 2019 | $ 307,145 | $ 401,814 | $ (12,136) | $ (82,533) | |
Beginning 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 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 | ||||
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 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 | ||||
Common stock issued upon exercise of options | $ 15 | 15 | |||
Common stock issued upon exercise of options, Shares | 2 | 2 | |||
Vesting of restricted stock and performance stock units, Shares | 992 | ||||
Purchase and retirement of common shares | $ (2,254) | (2,254) | |||
Purchase and retirement of common shares, Shares | (329) | ||||
Stock-based compensation | 11,622 | 11,622 | |||
Net loss | (17,934) | (17,934) | |||
Currency translation adjustments | (8,572) | (8,572) | |||
Unrealized gain (loss) on marketable securities | 214 | 214 | |||
Ending Balance at Dec. 31, 2022 | $ 363,624 | $ 520,446 | $ (18,435) | $ (138,387) | |
Ending Balance, Shares at Dec. 31, 2022 | 72,734 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING ACTIVITIES: | |||
Net income (loss) | $ (17,934) | $ (22,998) | $ (14,922) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||
Stock-based compensation | 11,622 | 7,807 | 7,139 |
Depreciation and amortization | 15,308 | 11,658 | 9,387 |
Loss on impairments | 17,101 | ||
Other non-cash amortization | 228 | 837 | 327 |
Provision for doubtful accounts | (1,032) | (253) | 941 |
Inventory reserve | (754) | 6,731 | 736 |
Unrealized foreign currency (gain) loss | (161) | (210) | 269 |
Interest expense on finance leases | 94 | 82 | 72 |
Deferred income taxes | (1,651) | 1,026 | (392) |
Loss on sale of fixed assets | 729 | 114 | |
Gain on sale of product line | (225) | ||
Change in the estimated fair value of acquisition-related contingent consideration | (188) | (1,485) | (1,099) |
Payment of acquisition-related contingent consideration | (142) | (496) | |
Changes in assets and liabilities | |||
Accounts receivable | (25,162) | (6,451) | (2,324) |
Inventories | (43,048) | (27,941) | (9,343) |
Prepaid expenses and other assets | (7,091) | (8,674) | (104) |
Accounts payable | 3,963 | 3,234 | 7,379 |
Deferred revenue | (596) | (1,891) | 1,051 |
Accrued expenses and other liabilities | 1,370 | 3,288 | 7,297 |
Net cash (used in) provided by operating activities | (47,202) | (35,382) | 5,807 |
INVESTING ACTIVITIES: | |||
Purchases of investments | (22,873) | (25,822) | (90,137) |
Proceeds from maturities and redemptions of investments | 47,415 | 67,925 | 107,718 |
Proceeds from sale of assets | 121 | ||
Purchases of property and equipment | (6,774) | (21,893) | (26,674) |
Purchase of property and equipment under government contracts | (57,135) | (26,224) | |
Proceeds from funding under government contract | 60,331 | 531 | |
Purchase of patent and product rights | (2,250) | ||
Acquisition of businesses, net of cash acquired | (3,037) | ||
Other investing activities | (18) | 351 | |
Net cash (used in) provided by investing activities | 21,085 | (5,501) | (14,029) |
FINANCING ACTIVITIES: | |||
Cash payments for lease liabilities | (1,381) | (686) | (687) |
Issuance of common stock in connection with public offering, net | 95,036 | ||
Proceeds from exercise of stock options | 15 | 246 | 3,222 |
Payment of acquisition-related contingent consideration | (208) | (264) | (3,004) |
Repurchase of common stock | (2,254) | (2,113) | (2,088) |
Net cash (used in) provided by financing activities | (3,828) | (2,817) | 92,479 |
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH | (2,837) | (340) | 830 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (32,782) | (44,040) | 85,087 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 116,762 | 160,802 | 75,715 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 83,980 | $ 116,762 | $ 160,802 |
The Company
The Company | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company | 1. THE COMPANY: The primary 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 through effortless tests, collection kits and services. OraSure's business consists of two segments: our “Diagnostics” segment, and our “Molecular Solutions” segment. The Company's Diagnostics business primarily consists of the development, manufacture, marketing and sale of simple, easy to use diagnostic products and specimen collection devices using the Company's 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. The Company's 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, in the case of the HIV product, as a self-test to individuals in a number of other countries. In 2022, after obtaining a CE mark, the Company launched the OraQuick ® HIV Self-Test, an oral swab in-home test for HIV-1 and HIV-2, in Europe, making it available in several European countries. Through the Company’s Diagnostics business the Company is also developing and commercializing products that measure adherence to HIV medications including pre-exposure prophylaxis ("PrEP"). The Company's Molecular Solutions business is operated by its wholly-owned subsidiaries, DNA Genotek Inc. ("DNAG"), Diversigen, Inc. ("Diversigen"), and Novosanis NV ("Novosanis"). The Company's Molecular Solutions business sells its products and services directly to its customers, primarily through its internal sales force in the U.S. domestic market, and in many international markets, also through distributors. The Company's products primarily consist of collection kits and services used by clinical laboratories, direct-to-consumer laboratories, researchers, pharmaceutical companies, and animal health service and product providers. Most of the Company's Molecular Solutions revenues are derived from product sales to commercial customers and sales into the academic and research markets. A significant portion of the Company's total sales is from repeat customers in both markets. Molecular Solutions customers span the disease risk management, diagnostics, pharmaceutical, biotech, companion animal and environmental markets. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
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 estimates related to taxes, contingent consideration, and performance-based compensation expense. 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, the Company 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 the Company's consolidated balance sheet as of December 31, 2022 and 2021. The amount was received in 2023. The credit is reported in the Company's 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 2022, 2021 and 2020 , the Company paid income taxes of $ 9,446 , $ 13,727 and $ 9,263 , respectively. The Company had account receivable write-offs of $ 2,296 , $ 115 , and $ 501 in 2022, 2021, and 2020, respectively. As of December 31, 2022, 2021 and 2020 , the Company had accruals for purchases of property and equipment of $ 227 , $ 8,166 and $ 802 , respectively. Investments The Company considers 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. The Company records an allowance for credit loss for the Company's available-for-sale securities when a decline in investment market value is due to credit-related factors. When evaluating an investment for impairment, the Company reviews 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. The following is a summary of the Company's available-for-sale securities as of December 31, 2022 and 2021: Amortized Gross Gross Fair Value December 31, 2022 Guaranteed investment certificates $ 22,109 $ — $ — $ 22,109 Corporate bonds 4,978 — ( 220 ) 4,758 Total available-for-sale securities $ 27,087 $ — $ ( 220 ) $ 26,867 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 At December 31, 2022, maturities of the Company's available-for-sale securities were as follows: Less than one year $ 27,087 $ — $ ( 220 ) $ 26,867 Greater than one year $ — $ — $ — $ — Fair Value of Financial Instruments As of December 31, 2022 and 2021, 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 un-observable (i.e., supported by little or no market activity). All of the Company's available-for-sale debt securities are measured as Level 2 instruments as of December 31, 2022 and 2021. The Company's guaranteed investment certificates are measured as Level 1 instruments as of December 31, 2022 and 2021. Included in cash and cash equivalents at December 31, 2022 and 2021, was $ 1,730 and $ 1,160 invested in government money market funds. These funds have investments in government securities and are measured as Level 1 instruments. The Company offers a nonqualified deferred compensation plan for certain eligible employees and members of the Company's 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, 2022 and 2021 was $ 747 and $ 1,763 , 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 non-current assets with the same amounts included in accrued expenses and other non-current liabilities in the accompanying consolidated balance sheets. As further discussed in Note 3, Business Combinations, the Company has identified the Company's contingent consideration obligations as Level 3 liabilities due to significant inputs that are required to measure the fair value of these obligations. 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 the Company's customers and the Company's 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 the Company's inventories are subject to expiration dating, which can be extended in certain circumstances. The Company continually evaluates quantities on hand and the carrying value of the Company's inventories to determine the need for net realizable value adjustments, based primarily on prior experience with consideration of expected changes in the business and estimated forecasts of product sales. The Company reserves for unidentified scrap or spoilage based on historical write-off rates. The Company also considers items identified through specific identification procedures in assessing the adequacy of the Company's reserve. Although the Company makes every effort to ensure the accuracy of its forecasts of future product demand, any significant unanticipated changes in demand could have a significant impact on the carrying value of its inventories and reported operating results 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 trade names. 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. The Company assesses the recoverability of the Company's 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, the Company measures 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 the Company's assumptions about selling prices, volumes, costs and market conditions over a reasonable period of time. See Note 6 for discussion of impairments recorded in 2022. 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 the Company believes that indicators of impairment exist. Current generally accepted accounting principles permit the Company to make a qualitative evaluation about the likelihood of goodwill impairment. If the Company concludes that it is more likely than not that the carrying value of a reporting unit is greater than its fair value, then the Company 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. The Company performs an annual goodwill impairment assessment as of July 31 each year. Historically this involved a qualitative analysis that resulted in a conclusion that it was more likely than not that the fair value of the Company's reporting units is greater than their carrying value. A more frequent evaluation is performed if an event occurs or circumstances change between annual tests that could more likely than not reduce the fair value of a reporting unit below its carrying amount. 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 the Company is entitled to, net of allowances for any discounts or rebates. The Company generally does not grant product return rights to the Company's customers, except for warranty returns and return rights on sales of the Company's OraQuick ® In-Home HIV test to the retail trade, and InteliSwab ® products to the retail trade and certain customers. Historically, returns arising from warranty issues have been infrequent and immaterial. Accordingly, the Company expenses warranty returns as incurred. The Company records shipping and handling charges billed to the Company's customers as product revenue and the related expense as cost of products sold. Service revenues. Service revenues represent microbiome laboratory testing and analytical services. The Company recognizes revenues when the Company satisfies its performance obligations for services rendered. Arrangements with multiple-performance obligations . In arrangements involving more than one performance obligation, which largely applies to the Company's 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 and funding from grants of research and development efforts. For the year ended December 31, 2021, other revenue also included cost reimbursements under a charitable support agreement which ended in June 2021. Royalties from licensees are based on third-party sales of licensed products and are recorded when the related third-party product sale occurs. Research and development grant revenue is recognized pursuant to International Accounting Standard 20, Accounting for Government Grants and Disclosure of Government Assistance ("IAS 20") . The expenses are recorded in research and development expense and the reimbursements are recorded in other revenue. Funding of research and development efforts and charitable support reimbursements are recorded as the activities are performed in accordance with the respective agreements. Deferred Revenue. The Company records deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of December 31, 2022 and 2021 included customer prepayments of $ 1,533 and $ 1,843 , respectively. Deferred revenue as of December 31, 2022 and 2021 also included $ 740 and $ 1,093 , 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 . The Company's 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, the Company 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, the Company defers the cost of the commission and expenses 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, 2022 2021 2020 COVID-19 $ 243,325 $ 76,874 $ 50,927 Genomics 54,335 63,350 36,878 HIV 38,812 42,144 44,224 HCV 13,369 11,783 8,448 Risk assessment testing 10,269 9,678 9,194 Microbiome 7,503 7,944 5,474 Laboratory services 7,296 11,840 8,746 Other product and service revenues 3,138 3,284 2,490 Net product and services revenues $ 378,047 $ 226,897 $ 166,381 Royalty income 2,683 4,420 3,432 Other non-product revenues 6,749 2,357 1,908 Other revenues 9,432 6,777 5,340 Net revenues $ 387,479 $ 233,674 $ 171,721 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, 2022 2021 2020 United States $ 350,206 $ 188,383 $ 130,835 Europe 11,536 13,799 12,068 Other regions 25,737 31,492 28,818 $ 387,479 $ 233,674 $ 171,721 Customer and Vendor Concentrations. The Company had one customer that accounted for more than 57 % of the Company's consolidated accounts receivable as of December 31, 2022 and no ne as of December 31, 2021. The same customer accounted for approximately 58 % of the Company's consolidated revenues for the year ended December 31, 2022. The Company had no customers that accounted for more than 10% of the Company's consolidated net revenues for the years ended December 31, 2021 and 2020. The Company currently purchases certain products and critical components of the Company's products from sole-supply vendors. If these vendors are unable or unwilling to supply the required components and products, the Company could be subject to increased costs and substantial delays in the delivery of the Company's products to the Company's customers. Third-party suppliers also manufacture certain products. The Company's inability to have a timely supply of any of these components and products could have a material adverse effect on the Company's business, as well as the Company's financial condition and results of operations. The Company’s Intercept i2 ® he collection device is manufactured and supplied under a long-term agreement with Thermo Fisher, the sole-source supplier for these products. 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. The Company is 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 the Company to make significant estimates and assumptions, especially at the acquisition date, with respect to intangible assets. Although the Company believes the assumptions and estimates it has 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. The Company accounts for contingent consideration in accordance with applicable guidance provided within the business combination accounting standard. As part of the Company's consideration for the recent acquisitions, the Company is contractually obligated to pay certain consideration resulting from the outcome of future events. Therefore, the Company is required to update the Company's 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 the Company's consolidated statements of operations. The Company's estimates of fair value are based on assumptions the Company believes to be reasonable, but the assumptions are uncertain and involve significant judgment by management. Updates to these assumptions could have a significant impact on the Company's 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 the Company has made. In addition, unanticipated events and circumstances may occur, which may affect the accuracy or validity of such estimates, and if such events occur the Company 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 2022, 2021, and 2020, the Company incurred $ 4,849 , $ 5,103 , and $ 1,126 , respectively, in advertising expenses. Stock-Based Compensation The Company accounts for stock-based compensation to employees and directors using the fair value method. The Company recognizes 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. The Company recognizes compensation expense related to performance-based restricted stock units based on assumptions as to what percentage of each performance target will be achieved. The Company evaluates these target assumptions on a quarterly basis and adjusts 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, the Company issues new shares rather than purchase shares in the open market. Income Taxes The Company follows 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. The Company assesses the realizability of the Company's 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, the Company reduces its 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 the Company's net operating loss carryforwards. Foreign Currency Translation The assets and liabilities of the Company's 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 the Company's consolidated statements of operations in the period in which the change occurs. Net foreign exchange gains (losses) resulting from foreign currency transactions that are included in other income in the Company's consolidated statements of operations were $ 1,553 , $( 667 ) , and $( 337 ) for the years ended December 31, 2022, 2021, and 2020 , 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 anti-dilutive. 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. For the years ended December 31, 2022, 2021, and 2020 outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 436 , 769 , and 984 shares, respectively, were excluded from the computation of diluted loss per share. Accumulated Other Comprehensive Loss The Company classifies items of other comprehensive income (loss) by their nature and discloses the accumulated balance of other comprehensive loss separately from accumulated deficit and additional paid-in capital in the stockholders’ equity section of the Company's consolidated balance sheets. The Company has defined the Canadian dollar as the functional currency of the Company's Canadian subsidiary, DNAG, and the Company has defined the Euro as the functional currency of the Company's 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, 2022 consists of $ 18,215 of currency translation adjustments and $ 220 of net unrealized losses on marketable securities. 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 the Company's investments portfolio. Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of this update is to provide optional guidance for a limited time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU were effective upon issuance and could be applied prospectively through December 31, 2022. The FASB issued an amendment, ASU 2022-06, Deferral of the Sunset Date of Topic 848, in December 2022, which, extends the date for prospective application to December 31, 2024. Management has evaluated this ASU and concluded that it will not have a material impact on the Company's Consolidated Financial Statements . Reclassifications Certain prior period amounts have been reclassified to conform to current year presentation. See Note 4 for discussion of the reclassification related to the U.S. Department of Defense contract. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2022 | |
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, the Company 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 the Company's acquisition agreement, the Company was to 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 the Company's 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. As of December 31, 2022, it is not likely the Company will be required to make a material payment. 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 Payments made during the period ( 208 ) Change in fair value during the period ( 188 ) Balance as of December 31, 2022 $ 164 The change in fair value during the years ended December 31, 2022, 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 the Company's Diagnostics segment. The Company finalized its valuation of the assets acquired and liabilities assumed. The total consideration of $ 3,037 was allocated to assets acquired and liabilities assumed as of the acquisition date as follows: 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 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 the Company expects to achieve as a result of the acquisition. The Company believes the goodwill related to the acquisition was a result of gaining a complementary product offering that will enable the Company 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 the Company's Diagnostics segment. |
Government Capital Contracts
Government Capital Contracts | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Government Capital Contracts | 4. GOVERNMENT CAPITAL CONTRACTS: In September 2021, the Company 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 the Company's 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 expected to occur through December 2023 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. The Company began making payments to vendors for the capital project during the fourth quarter of 2021. The Company began receiving funds from the DOD in January 2022 and has received $ 60,331 as of the date of this report. The remaining $ 48,669 is expected to be collected within the next year. Activity for these capital contracts is accounted for pursuant to IAS 20, Accounting for Government Grants and Disclosure of Government Assistance . Funding received 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. Property, plant and equipment in the amount of $ 14,729 that was recorded on the Company's consolidated balance sheet as of December 31, 2021 was reclassified in 2022 as the assets were allocated to the DOD build out. The consolidated balance sheet as of December 31, 2021 has been updated to reflect a reduction of $ 14,729 in property, plant and equipment and an increase in other current assets of $ 10,875 and other noncurrent assets of $ 3,854 for amounts due from DOD. The respective investing activities on the consolidated cash flows for the year ended December 31, 2021 have also been reclassified. The DOD also reimburses the Company for certain engineering consulting costs. These expenses are reflected in research and development expenses as incurred with the corresponding amount presented in other income. For the year ended December 31, 2022, $ 1,422 was recorded in research and development expenses and other income. Amounts earned in excess of the Company's expected costs for the project for project management are recognized straight-line in other income over the term of the government contract. The Company recognized $ 2,246 and $ 561 of such income, which is reported as other income in the Company's consolidated statement of operations for the year ended December 31, 2022 and 2021, respectively. Additionally, during 2021, the Company 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. The balances corresponding to government contracts included in the Company's consolidated balance sheet are as follows: December 31, December 31, Other current assets: Billed receivables $ — $ 9,913 Unbilled receivables 27,013 20,591 Total other current assets 27,013 30,504 Other non-current assets — 3,854 Accrued expenses and other current liabilities $ ( 318 ) $ ( 8,103 ) The activity corresponding to the government contracts included in the Company's consolidated statements of cashflows is as follows: December 31, December 31, Cost of assets, cumulative $ 83,359 $ 26,224 Reduction for funding earned to date, not yet received ( 22,497 ) ( 25,693 ) Reduction for funding received to date ( 60,862 ) ( 531 ) Total property, plant and equipment, net $ — $ — |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories | 5. INVENTORIES: December 31, 2022 2021 Raw materials $ 42,445 $ 33,168 Work in process 2,335 2,252 Finished goods 51,452 17,718 $ 96,232 $ 53,138 During 2022, 2021, and 2020, the Company recorded adjustments to inventory which had a cost of $ 15,618 , $ 13,400 , and $ 2,564 , respectively. The adjustments in 2021 included a write-off of $ 3,008 of COVID-19 antibody inventory, which the Company does not believe the Company can sell as a result of the decision to no longer pursue an EUA for the ELISA antibody test. Additionally, a significant portion of the Company's 2022 and 2021 adjustments were related to production and tech-transfer issues associated with the Company's COVID-19 rapid test. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | 6. PROPERTY, PLANT AND EQUIPMENT: December 31, 2022 2021 Land $ 1,118 $ 1,118 Buildings and improvements 35,582 35,420 Machinery and equipment 60,725 57,919 Computer equipment and software 16,681 14,700 Furniture and fixtures 4,064 4,228 Construction in progress 11,124 21,207 129,294 134,592 Less accumulated depreciation ( 69,881 ) ( 61,157 ) $ 59,413 $ 73,435 During the year ended December 31, 2022, management determined several manufacturing lines and associated supporting assets will not be utilized due to changes in forecasted demand for the products the lines are intended to produce. As a result of this decision, the Company determined that the carrying values of the equipment are not recoverable and recorded aggregate pre-tax asset impairment charges of $ 8,585 and $ 4,912 to the Molecular Solutions and Diagnostics segments, respectively, to write the assets down to their estimated fair values. This resulted in the assets being fully impaired. This charge is reported within loss on impairments in the consolidated statement of operations. The Company estimated the fair value of the impaired long-lived assets using a market approach, which required the Company to estimate the value that would be received for the equipment in the most advantageous market for that equipment in an orderly transaction between market participants. Due to the extremely specialized nature of the manufacturing equipment and various market data points, the estimated fair value was not significant. The Company's fair value estimates were representative of Level 3 measurements within the fair value hierarchy due to the significant level of estimation involved and the lack of transparency as to the inputs used. Depreciation expense was $ 11,740 , $ 7,498 , and $ 5,514 for 2022, 2021, and 2020 , respectively. See Note 4 for discussion of prior year reclassification. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 7. GOODWILL AND OTHER INTANGIBLE ASSETS: The following table represents total goodwill by operating segment: December 31, 2022 2021 Diagnostics $ — $ 3,604 Molecular Solutions 35,104 36,675 $ 35,104 $ 40,279 The changes in goodwill are as follows: December 31, 2022 2021 Balance as of January 1 $ 40,279 $ 40,351 Impairment ( 3,604 ) — Purchase price adjustment — 18 Change related to foreign currency translation ( 1,571 ) ( 90 ) Balance as of December 31 $ 35,104 $ 40,279 During the second quarter of 2022, the Company determined that a triggering event occurred in relation to the depressed market price of the Company's common stock and corresponding decline in the Company's market capitalization. As a result, the Company performed an interim quantitative goodwill impairment test and concluded that the carrying value of the Company's Diagnostics reporting unit exceeded its estimated fair value and the goodwill balance for that segment was fully impaired. The Company recognized a pre-tax impairment charge of $ 3,604 during the year ended December 31, 2022, which is reported in loss on impairments in the Company's consolidated statement of operations. The Company's quantitative goodwill impairment test concluded that the carrying value of the Company's Molecular Solutions reporting unit exceeded its estimated fair value and no impairment of the related goodwill exists. Intangible assets consist of the following: December 31, 2022 Amortization Gross Accumulated Amortization Net Customer relationships 10 $ 14,286 $ ( 11,011 ) $ 3,275 Patents and product rights 5 7,620 ( 6,615 ) 1,005 Developed technology 7 - 10 15,478 ( 9,940 ) 5,538 Tradename 5 - 15 5,387 ( 3,511 ) 1,876 $ 42,771 $ ( 31,077 ) $ 11,694 December 31, 2021 Amortization Gross Accumulated 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 Amortization expense for 2022, 2021, and 2020 was $ 2,269 , $ 3,260 , and $ 3,246 , respectively. Amortization expense for each of the five succeeding fiscal years and beyond is estimated as follows: 2023 $ 2,221 2024 2,183 2025 1,947 2026 1,591 2027 1,520 Beyond 2,232 $ 11,694 |
Accrued Expenses And Other Curr
Accrued Expenses And Other Current Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | 8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES: December 31, 2022 2021 Payroll and related benefits $ 14,103 $ 15,570 Commitment to purchase under government contract — 8,103 Professional fees 4,685 3,335 Sales tax payable 1,519 2,227 Other 5,455 4,543 $ 25,762 $ 33,778 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Lessee Disclosure [Abstract] | |
Leases | 9. LEASES: The Company determines whether an arrangement is a lease at inception. The Company has operating and finance leases for corporate offices, warehouse space and equipment (including vehicles). As of December 31, 2022, the Company is the lessee in all agreements. The Company's leases have remaining lease terms of 1 to 10 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. The Company presents the operating right-of-use asset amortization and the change in operating lease liabilities on the same line item, other non-cash amortization on the statement of cash flows. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The Company has lease agreements that contain both lease and non-lease components (e.g., common-area maintenance). For these agreements, the Company accounts for lease components separately from non-lease components. During 2021, the Company entered into various purchase agreements for the Company's 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. The Company 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 the Company's 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, 2022 2021 2020 Operating lease cost $ 2,910 $ 2,226 $ 1,291 Variable and short-term lease cost 521 201 — Finance lease cost: Amortization of right-of use assets 1,299 900 627 Interest on lease liabilities 94 82 72 Total finance lease cost 1,393 982 699 Total lease cost $ 4,824 $ 3,409 $ 1,990 Supplemental cash flow information related to leases is as follows: Years ended December 31, 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,209 $ 3,733 $ 1,280 Operating cash flows from financing leases 94 82 72 Financing cash flows from financing leases 1,381 686 687 Non-cash activity: Right-of-use assets obtained in exchange for operating lease obligations 3,963 6,480 498 Right-of-use assets obtained in exchange for finance lease obligations 117 2,074 46 Supplemental balance sheet information related to leases is as follows: December 31, 2022 2021 Operating Leases Right-of-use assets $ 10,399 $ 9,056 Lease liabilities: Current lease liabilities 1,764 2,181 Non-current lease liabilities 9,101 7,202 Total operating lease liabilities $ 10,865 $ 9,383 Finance Leases Right-of-use assets $ 1,293 $ 2,493 Lease liabilities: Current lease liabilities 1,179 939 Non-current lease liabilities 503 1,952 Total finance lease liabilities $ 1,682 $ 2,891 Weighted Average Remaining Lease Term Weighted-average remaining lease term—operating leases 6.24 years 5.26 years Weighted-average remaining lease term—finance leases 1.33 years 2.21 years Weighted Average Discount Rate Weighted-average discount rate—operating leases 4.06 % 3.90 % Weighted-average discount rate—finance leases 3.44 % 3.57 % As of December 31, 2022, minimum lease payments by period are expected to be as follows: Finance Operating 2023 $ 1,216 $ 1,898 2024 505 2,311 2025 20 1,928 2026 12 1,710 2027 — 1,544 Thereafter — 3,083 Total minimum lease payments 1,753 12,474 Less: imputed interest ( 71 ) ( 1,609 ) Present value of lease liabilities $ 1,682 $ 10,865 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 10. INCOME TAXES: Income (loss) before income tax expense consists of the following: Years Ended December 31, 2022 2021 2020 United States $ ( 7,912 ) $ ( 60,500 ) $ ( 47,995 ) Foreign ( 8,564 ) 51,208 44,471 $ ( 16,476 ) $ ( 9,292 ) $ ( 3,524 ) The components of income tax expense (benefit) are as follows: Years Ended December 31, 2022 2021 2020 Current Federal $ — $ — $ — State 955 163 ( 106 ) Foreign 2,154 12,517 11,896 3,109 12,680 11,790 Deferred Federal ( 2,250 ) ( 10,318 ) ( 20,946 ) State ( 633 ) ( 965 ) ( 1,053 ) Foreign ( 2,617 ) ( 151 ) ( 410 ) ( 5,500 ) ( 11,434 ) ( 22,409 ) Increase (decrease) in valuation allowance 3,849 12,460 22,017 ( 1,651 ) 1,026 ( 392 ) Total income tax expense $ 1,458 $ 13,706 $ 11,398 For the years ended December 31, 2022, 2021, and 2020 the Company recorded foreign income tax expense of $ 503 , $ 13,543 , and $ 12,185 , respectively. The Company's 2022 income tax expense is comprised of $ 1,703 of Canadian withholding taxes paid on the repatriation of Canadian earnings which occurred in the first quarter of 2022, $ 955 of U.S. state income taxes, and a foreign income tax benefit of $ 1,200 associated with the Company's Canadian subsidiary. The Company's 2021 income tax expense is comprised of U.S. state income taxes of $ 163 and foreign tax expense associated with the Company's Canadian subsidiary of $ 13,543 . The Company's 2020 income tax expense is comprised of a U.S. state income tax benefit of a $ 794 and foreign tax expense associated with the Company's Canadian subsidiary of $ 12,192 . A reconciliation of the statutory United States federal income tax rate to the Company's effective tax rate for each of the years ended December 31, 2022, 2021, and 2020 is as follows: 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % Nondeductible executive compensation ( 5.5 ) ( 6.1 ) ( 0.9 ) Impact of share-based payment awards ( 4.8 ) ( 3.3 ) ( 12.4 ) Tax effect of foreign items ( 5.7 ) ( 30.8 ) ( 70.7 ) State income taxes, net of federal benefit ( 0.8 ) 6.8 26.0 U.S. and foreign tax credits 3.6 2.5 34.9 Nondeductible transaction costs — — ( 2.8 ) Nondeductible expenses and other 7.0 ( 4.0 ) ( 2.6 ) NOL adjustment due to change in GILTI regulations — — 308.9 Change in valuation allowance, federal and state ( 23.7 ) ( 133.6 ) ( 624.8 ) Effective tax rate ( 8.9 ) % ( 147.5 ) % ( 323.4 ) % 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 the Company's deferred tax assets (liabilities) as of December 31, 2022 and 2021 are as follows: 2022 2021 Deferred tax assets (liabilities): Net operating loss carryforwards $ 39,783 $ 44,191 Inventories 4,504 4,642 Capitalized research and development costs 6,505 453 Accruals and reserves currently not deductible 2,799 3,245 Acquired intangible assets ( 2,641 ) ( 3,117 ) Depreciation and amortization ( 6,227 ) ( 8,536 ) Right-of-use assets ( 2,775 ) ( 2,777 ) Lease liabilities 2,990 2,957 Stock-based compensation 3,032 1,891 Tax credit carryforwards 4,509 3,855 Net deferred tax asset 52,479 46,804 Valuation allowance ( 52,887 ) ( 49,038 ) Net deferred tax liability $ ( 408 ) $ ( 2,234 ) In assessing the realizability of the Company's deferred tax asset, the Company considers 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, the Company established a full valuation allowance against the Company's U.S. deferred tax asset, and management believes the full valuation allowance is still appropriate as of December 31, 2022 and 2021 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, 2022, 2021, and 2020. The Company's Federal NOL carryforwards expire as follows: Year of Expiration NOLs 2030 - 2033 $ 36,107 2034 - 2037 12,055 Non-Expiring 117,885 $ 166,047 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. The Company does not believe that there is a Section 382 limitation that will impair the Company's future ability to utilize NOLs to offset the Company's future taxable income. The Company continues to review ownership changes on an annual basis and the Company does not believe it has had a subsequent ownership change that would impact the NOLs. In January 2022, approximately $ 65,000 was repatriated from the Company's Canadian subsidiary as a one-time event. Associated with this repatriation the Company paid $ 1.7 million in Canadian withholding tax which is included in the Company's foreign income tax expense within the table further above. It is still the Company's intention to continue to permanently reinvest the historical undistributed earnings of the Company's foreign subsidiary to the extent that the Company 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, 2022. As of December 31, 2022 , the Company's gross unrecognized tax benefits totaled $ 373 , and based upon the valuation allowance for the Company's U.S. operations, the recognition of any tax benefit would not impact the Company's effective tax rate. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense. Interest and penalties were immaterial in 2022, 2021, and 2020. As a result of the Company's net operating loss carryforward position, the Company is subject to audit by the Internal Revenue Service since the Company's inception, as well as by several state jurisdictions for the years ended September 30, 1998 through December 31, 2022. A reconciliation of the Company's unrecognized tax benefits is as follows: 2022 2021 2020 Balance as of January 1 $ 805 $ 1,172 $ 1,308 Additions for tax positions of prior periods 1 1 1 Reductions for tax positions of prior periods ( 433 ) ( 368 ) ( 137 ) Balance as of December 31 $ 373 $ 805 $ 1,172 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Stockholders' Equity | 11. STOCKHOLDERS’ EQUITY: Stock-Based Awards The Company grants 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, 2022 , 3,921 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 the Company's 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 2022 2021 2020 Risk-free interest rate (1) 1.65 % 0.47 % 1.33 % Expected dividend yield — — — Expected stock price volatility (2) 50 % 50 % 42 % Expected life of stock options (in years) (2) 5 5 5 (1) Based on the constant maturity interest rate of U.S. Treasury securities whose term is consistent with the expected life of the Company's stock options. (2) Based upon historical experience. The weighted-average grant date fair value of stock options granted during the years ended December 31, 2022, 2021, and 2020 was $ 4.15 , $ 6.14 and $ 2.79 , respectively. Compensation expense recognized in the financial statements related to stock options was $ 1,515 , 1,063 , and $ 892 for the years ended December 31, 2022, 2021, and 2020, respectively. The aggregate intrinsic value of options exercised during the years ended December 31, 2022, 2021, and 2020 (the amount by which the market price of the stock on the date of exercise exceeded the exercise price) was $ 4 , $ 130 , and $ 3,117 , respectively. The following table summarizes the stock option activity under the Stock Plan: Options Weighted- Weighted- Aggregate Intrinsic Value Outstanding on January 1, 2022 1,410 $ 10.73 Granted 589 8.86 Exercised ( 2 ) 7.17 Expired ( 28 ) 10.01 Forfeited ( 211 ) 9.63 Outstanding on December 31, 2022 1,758 $ 10.25 6.54 $ — Vested or expected to vest as of December 31, 2022 1,633 $ 10.29 7.03 $ — Exercisable on December 31, 2022 1,045 $ 10.67 5.11 $ — As of December 31, 2022 , there was $ 2,583 of unrecognized compensation expense related to unvested option awards that is expected to be recognized over a weighted-average period of 2.6 years. Net cash proceeds from the exercise of stock options were $ 15 , $ 246 and $ 3,222 for the years ended December 31, 2022, 2021, and 2020 , respectively. As a result of the Company's 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, 2022: Options outstanding Options exercisable Range of exercise prices Number Weighted- Weighted- Number Weighted- $ 5.37 -$ 8.86 1,036 7.2 $ 7.83 435 $ 6.83 $ 8.87 -$ 13.31 362 4.8 10.67 357 10.64 $ 14.95 -$ 22.43 360 6.5 16.79 253 17.30 1,758 6.5 $ 10.25 1,045 $ 10.67 The Stock Plan also permits the Company to grant restricted shares and restricted units of the Company's common stock to eligible employees, including officers, and the Company's outside directors. Generally, these shares or units are nontransferable until vested and are subject to vesting requirements and/or forfeiture, as determined by the Company's 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 $ 9,169 , $ 4,094 and $ 4,094 related to restricted shares was recognized during the years ended December 31, 2022, 2021, and 2020, respectively. The following table summarizes restricted stock award and restricted stock units activity under the Stock Plan: Units Weighted- Issued and unvested, January 1, 2022 701 $ 11.53 Granted 2,995 6.45 Vested ( 750 ) 9.50 Forfeited ( 373 ) 9.47 Issued and unvested, December 31, 2022 2,573 $ 6.51 Issued and expected to vest, December 31, 2022 2,538 $ 6.53 As of December 31, 2022 , there was $ 11,185 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 1.8 years. In connection with the vesting of restricted shares during the years ended December 31, 2022, 2021, and 2020, the Company purchased and immediately retired 241 , 107 and 127 shares with aggregate values of $ 1,621 , $ 1,417 and $ 1,219 , respectively, in satisfaction of minimum tax withholding and exercise obligations. The Company grants 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 the Company's 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 and 2022, 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 the Company's 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, the Company recognizes 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 $ 938 , $ 2,650 and $ 2,153 related to the PSUs was recognized during the years ended December 31, 2022, 2021, and 2020, respectively. The following table summarizes PSU activity under the Stock Plan: Units Weighted- Issued and unvested, January 1, 2022 622 $ 9.88 Granted (1) 532 8.86 Performance adjustment (2) 36 N/A Vested ( 241 ) 11.09 Forfeited ( 234 ) 10.50 Issued and unvested, December 31, 2022 715 $ 6.86 Issued and expected to vest, December 31, 2022 698 $ 6.82 (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, 2022 , there was $ 316 of unrecognized compensation expense related to unvested performance stock units that is expected to be recognized over a weighted average period of 1.6 years. In connection with the vesting of performance stock units during the year ended December 31, 2022, 2021 and 2020, we purchased and immediately retired 88 , 46 , and 121 shares with aggregate values of $ 633 , $ 696 and $ 869 , respectively. Public Offering On June 1, 2020, the Company 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 the Company's common stock. The price to the public in the offering was $ 11.00 per share. Under the terms of the underwriting agreement, the Company 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, the Company 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) the Company 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, the Company's Board of Directors approved a share repurchase program pursuant to which the Company is permitted to acquire up to $ 25,000 of the Company's outstanding common shares. No shares were purchased and retired in 2022, 2021, and 2020 . |
Transition Costs
Transition Costs | 12 Months Ended |
Dec. 31, 2022 | |
Transition Costs [Abstract] | |
Transition Costs | 12. 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 ended on March 31, 2022. Pursuant to the Transition Agreement, Dr. Tang received severance of $ 1,569 , which was accrued in the consolidated financial statements at December 31, 2021 and paid in April 2022. Additionally, in accordance with his Transition Agreement, certain of his unvested time-vesting restricted stock awards and unvested PSUs that were outstanding at March 31, 2022 vested on April 8, 2022. His remaining unvested time-vesting restricted stock awards and PSUs were forfeited on March 31, 2022. These payments, rights and benefits are substantially similar to the severance benefits contemplated by his previous employment agreement in respect to a termination without cause thereunder. In aggregate, the Company recognized $ 1,508 of expense in relation to Dr. Tang's stock compensation for the year ended December 31, 2022. |
Business Segment Information
Business Segment Information | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Business Segment Information | 13. BUSINESS SEGMENT INFORMATION: The Company's business consists of two segments, which are described in Note 1: the Company's “Diagnostics” segment and the Company's “Molecular Solutions” segment. The Company organized its 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). The Company evaluates performance of its operating segments based on revenue and operating income. The Company does not allocate interest income, interest expense, other income, other expenses or income taxes to its 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, 2022, 2021, and 2020, and asset information as of December 31, 2022 and 2021: Years ended December 31, 2022 2021 2020 Net revenues: Diagnostics $ 303,673 $ 90,040 $ 65,240 Molecular Solutions 83,806 143,634 106,481 Total $ 387,479 $ 233,674 $ 171,721 Operating income (loss): Diagnostics $ ( 598 ) $ ( 57,177 ) $ ( 43,156 ) Molecular Solutions ( 22,359 ) 47,013 37,979 Total $ ( 22,957 ) $ ( 10,164 ) $ ( 5,177 ) Depreciation and amortization: Diagnostics $ 8,099 $ 4,325 $ 3,345 Molecular Solutions 7,209 7,333 6,042 Total $ 15,308 $ 11,658 $ 9,387 Capital expenditures: Diagnostics (1) $ 3,644 $ 12,265 $ 17,860 Molecular Solutions 3,130 9,628 8,814 Total $ 6,774 $ 21,893 $ 26,674 (1) Excludes $ 57,135 and $ 26,224 for purchases of property and equipment under government contracts for the years ended December 31, 2022 and 2021 respectively. No purchases of property and equipment under government contracts were made in 2020. December 31, 2022 2021 Total assets: Diagnostics $ 279,994 $ 209,674 Molecular Solutions 164,714 251,316 Total $ 444,708 $ 460,990 The following table represents total long-lived assets by geographic area: December 31, 2022 2021 United States $ 60,751 $ 72,376 Canada 8,526 11,488 Other regions 1,828 1,120 $ 71,105 $ 84,984 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 14. COMMITMENTS AND CONTINGENCIES: Purchase Commitments As of December 31, 2022 , the Company had manufacturing agreements with certain third party vendors, in which minimum purchase commitments are required. If the minimum commitments are not achieved, the Company will be required to make annual penalty payments over the next three years. Based on current forecasts, these penalties aggregate to approximately $ 1,143 and are accrued for in the consolidated balance sheet. These estimated penalties can fluctuate based on changes in forecasted demand. The table below represents an estimate of future purchases under those agreements. 2023 $ 21,710 2024 9,695 2025 6,928 2026 — 2027 — $ 38,333 Litigation From time to time, the Company is 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 the Company's future financial position or results of operations. Spectrum Patent Litigation a motion for summary judgment of noninfringement. DNAG oppossed the motion. Briefing is complete and the motion remains pendng. The final pretrial conference is set for September 7, 2023. The Patent and Trademark Office instituted review of the second patent on February 10, 2023, scheduling a hearing for November 14, 2023. |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2022 | |
Retirement Benefits [Abstract] | |
Retirement Plans | 15. RETIREMENT PLANS: Substantially all of the Company's 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 the Company to match employee contributions up to $ 4 per year. The Company contributed $ 1,763 , $ 1,295 and $ 994 to the 401(k) Plan, net of forfeitures, in 2022, 2021, and 2020, respectively. In addition to the Company's 401(k) plan, the Company offers 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. The Company 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, 2022 and 2021, the value of the assets associated with this plan was $ 747 and $ 1,763 , respectively, and is included in current assets and other assets in the Company's consolidated balance sheets. The Company's obligation related to the deferred compensation plan is included in accrued expenses and other liabilities in the Company's consolidated balance sheets. As of December 31, 2022 and 2021, the Company's total obligation under this plan was $ 747 and $ 1,763 , 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 Canada Revenue Agency. The RRSP also provides for DNAG to match employee contributions up to $ 4 CAD per year. The Company contributed $ 453 , $ 448 and $ 366 to the RRSP in 2022, 2021, and 2020 , respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 16. SUBSEQUENT EVENTS: On February 14, 2023, the Company announced a 11 % reduction in its non-production workforce. This will be accounted for pursuant to ASC 420, Exit or Disposal Cost Obligations , and the expense will primarily be recorded in the first quarter of 2023. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
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 estimates related to taxes, contingent consideration, and performance-based compensation expense. 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, the Company 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 the Company's consolidated balance sheet as of December 31, 2022 and 2021. The amount was received in 2023. The credit is reported in the Company's 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 2022, 2021 and 2020 , the Company paid income taxes of $ 9,446 , $ 13,727 and $ 9,263 , respectively. The Company had account receivable write-offs of $ 2,296 , $ 115 , and $ 501 in 2022, 2021, and 2020, respectively. As of December 31, 2022, 2021 and 2020 , the Company had accruals for purchases of property and equipment of $ 227 , $ 8,166 and $ 802 , respectively. |
Investments | Investments The Company considers 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. The Company records an allowance for credit loss for the Company's available-for-sale securities when a decline in investment market value is due to credit-related factors. When evaluating an investment for impairment, the Company reviews 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. The following is a summary of the Company's available-for-sale securities as of December 31, 2022 and 2021: Amortized Gross Gross Fair Value December 31, 2022 Guaranteed investment certificates $ 22,109 $ — $ — $ 22,109 Corporate bonds 4,978 — ( 220 ) 4,758 Total available-for-sale securities $ 27,087 $ — $ ( 220 ) $ 26,867 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 At December 31, 2022, maturities of the Company's available-for-sale securities were as follows: Less than one year $ 27,087 $ — $ ( 220 ) $ 26,867 Greater than one year $ — $ — $ — $ — |
Fair Value of Financial Instruments | Fair Value of Financial Instruments As of December 31, 2022 and 2021, 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 un-observable (i.e., supported by little or no market activity). All of the Company's available-for-sale debt securities are measured as Level 2 instruments as of December 31, 2022 and 2021. The Company's guaranteed investment certificates are measured as Level 1 instruments as of December 31, 2022 and 2021. Included in cash and cash equivalents at December 31, 2022 and 2021, was $ 1,730 and $ 1,160 invested in government money market funds. These funds have investments in government securities and are measured as Level 1 instruments. The Company offers a nonqualified deferred compensation plan for certain eligible employees and members of the Company's 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, 2022 and 2021 was $ 747 and $ 1,763 , 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 non-current assets with the same amounts included in accrued expenses and other non-current liabilities in the accompanying consolidated balance sheets. As further discussed in Note 3, Business Combinations, the Company has identified the Company's contingent consideration obligations as Level 3 liabilities due to significant inputs that are required to measure the fair value of these obligations. |
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 the Company's customers and the Company's 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 the Company's inventories are subject to expiration dating, which can be extended in certain circumstances. The Company continually evaluates quantities on hand and the carrying value of the Company's inventories to determine the need for net realizable value adjustments, based primarily on prior experience with consideration of expected changes in the business and estimated forecasts of product sales. The Company reserves for unidentified scrap or spoilage based on historical write-off rates. The Company also considers items identified through specific identification procedures in assessing the adequacy of the Company's reserve. |
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 trade names. 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. The Company assesses the recoverability of the Company's 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, the Company measures 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 the Company's assumptions about selling prices, volumes, costs and market conditions over a reasonable period of time. See Note 6 for discussion of impairments recorded in 2022. |
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 the Company believes that indicators of impairment exist. Current generally accepted accounting principles permit the Company to make a qualitative evaluation about the likelihood of goodwill impairment. If the Company concludes that it is more likely than not that the carrying value of a reporting unit is greater than its fair value, then the Company 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. The Company performs an annual goodwill impairment assessment as of July 31 each year. Historically this involved a qualitative analysis that resulted in a conclusion that it was more likely than not that the fair value of the Company's reporting units is greater than their carrying value. A more frequent evaluation is performed if an event occurs or circumstances change between annual tests that could more likely than not reduce the fair value of a reporting unit below its carrying amount. |
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 the Company is entitled to, net of allowances for any discounts or rebates. The Company generally does not grant product return rights to the Company's customers, except for warranty returns and return rights on sales of the Company's OraQuick ® In-Home HIV test to the retail trade, and InteliSwab ® products to the retail trade and certain customers. Historically, returns arising from warranty issues have been infrequent and immaterial. Accordingly, the Company expenses warranty returns as incurred. The Company records shipping and handling charges billed to the Company's 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. The Company recognizes revenues when the Company satisfies its 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 the Company's 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 and funding from grants of research and development efforts. For the year ended December 31, 2021, other revenue also included cost reimbursements under a charitable support agreement which ended in June 2021. Royalties from licensees are based on third-party sales of licensed products and are recorded when the related third-party product sale occurs. Research and development grant revenue is recognized pursuant to International Accounting Standard 20, Accounting for Government Grants and Disclosure of Government Assistance ("IAS 20") . The expenses are recorded in research and development expense and the reimbursements are recorded in other revenue. Funding of research and development efforts and charitable support reimbursements are recorded as the activities are performed in accordance with the respective agreements. |
Deferred Revenue | Deferred Revenue. The Company records deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of December 31, 2022 and 2021 included customer prepayments of $ 1,533 and $ 1,843 , respectively. Deferred revenue as of December 31, 2022 and 2021 also included $ 740 and $ 1,093 , 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 . The Company's 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, the Company 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, the Company defers the cost of the commission and expenses 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, 2022 2021 2020 COVID-19 $ 243,325 $ 76,874 $ 50,927 Genomics 54,335 63,350 36,878 HIV 38,812 42,144 44,224 HCV 13,369 11,783 8,448 Risk assessment testing 10,269 9,678 9,194 Microbiome 7,503 7,944 5,474 Laboratory services 7,296 11,840 8,746 Other product and service revenues 3,138 3,284 2,490 Net product and services revenues $ 378,047 $ 226,897 $ 166,381 Royalty income 2,683 4,420 3,432 Other non-product revenues 6,749 2,357 1,908 Other revenues 9,432 6,777 5,340 Net revenues $ 387,479 $ 233,674 $ 171,721 |
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, 2022 2021 2020 United States $ 350,206 $ 188,383 $ 130,835 Europe 11,536 13,799 12,068 Other regions 25,737 31,492 28,818 $ 387,479 $ 233,674 $ 171,721 |
Customer and Vendor Concentrations | Customer and Vendor Concentrations. The Company had one customer that accounted for more than 57 % of the Company's consolidated accounts receivable as of December 31, 2022 and no ne as of December 31, 2021. The same customer accounted for approximately 58 % of the Company's consolidated revenues for the year ended December 31, 2022. The Company had no customers that accounted for more than 10% of the Company's consolidated net revenues for the years ended December 31, 2021 and 2020. The Company currently purchases certain products and critical components of the Company's products from sole-supply vendors. If these vendors are unable or unwilling to supply the required components and products, the Company could be subject to increased costs and substantial delays in the delivery of the Company's products to the Company's customers. Third-party suppliers also manufacture certain products. The Company's inability to have a timely supply of any of these components and products could have a material adverse effect on the Company's business, as well as the Company's financial condition and results of operations. The Company’s Intercept i2 ® he collection device is manufactured and supplied under a long-term agreement with Thermo Fisher, the sole-source supplier for these products. 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. The Company is 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 the Company to make significant estimates and assumptions, especially at the acquisition date, with respect to intangible assets. Although the Company believes the assumptions and estimates it has 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. The Company accounts for contingent consideration in accordance with applicable guidance provided within the business combination accounting standard. As part of the Company's consideration for the recent acquisitions, the Company is contractually obligated to pay certain consideration resulting from the outcome of future events. Therefore, the Company is required to update the Company's 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 the Company's consolidated statements of operations. The Company's estimates of fair value are based on assumptions the Company believes to be reasonable, but the assumptions are uncertain and involve significant judgment by management. Updates to these assumptions could have a significant impact on the Company's 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 the Company has made. In addition, unanticipated events and circumstances may occur, which may affect the accuracy or validity of such estimates, and if such events occur the Company 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 2022, 2021, and 2020, the Company incurred $ 4,849 , $ 5,103 , and $ 1,126 , respectively, in advertising expenses. |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for stock-based compensation to employees and directors using the fair value method. The Company recognizes 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. The Company recognizes compensation expense related to performance-based restricted stock units based on assumptions as to what percentage of each performance target will be achieved. The Company evaluates these target assumptions on a quarterly basis and adjusts 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, the Company issues new shares rather than purchase shares in the open market. |
Income Taxes | Income Taxes The Company follows 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. The Company assesses the realizability of the Company's 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, the Company reduces its 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 the Company's net operating loss carryforwards. |
Foreign Currency Translation | Foreign Currency Translation The assets and liabilities of the Company's 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 the Company's consolidated statements of operations in the period in which the change occurs. Net foreign exchange gains (losses) resulting from foreign currency transactions that are included in other income in the Company's consolidated statements of operations were $ 1,553 , $( 667 ) , and $( 337 ) for the years ended December 31, 2022, 2021, and 2020 , 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 anti-dilutive. 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. For the years ended December 31, 2022, 2021, and 2020 outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 436 , 769 , and 984 shares, respectively, were excluded from the computation of diluted loss per share. |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The Company classifies items of other comprehensive income (loss) by their nature and discloses the accumulated balance of other comprehensive loss separately from accumulated deficit and additional paid-in capital in the stockholders’ equity section of the Company's consolidated balance sheets. The Company has defined the Canadian dollar as the functional currency of the Company's Canadian subsidiary, DNAG, and the Company has defined the Euro as the functional currency of the Company's 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, 2022 consists of $ 18,215 of currency translation adjustments and $ 220 of net unrealized losses on marketable securities. 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 the Company's investments portfolio. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of this update is to provide optional guidance for a limited time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU were effective upon issuance and could be applied prospectively through December 31, 2022. The FASB issued an amendment, ASU 2022-06, Deferral of the Sunset Date of Topic 848, in December 2022, which, extends the date for prospective application to December 31, 2024. Management has evaluated this ASU and concluded that it will not have a material impact on the Company's Consolidated Financial Statements . |
Reclassifications | Reclassifications Certain prior period amounts have been reclassified to conform to current year presentation. See Note 4 for discussion of the reclassification related to the U.S. Department of Defense contract. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Available-for-sale Securities | The following is a summary of the Company's available-for-sale securities as of December 31, 2022 and 2021: Amortized Gross Gross Fair Value December 31, 2022 Guaranteed investment certificates $ 22,109 $ — $ — $ 22,109 Corporate bonds 4,978 — ( 220 ) 4,758 Total available-for-sale securities $ 27,087 $ — $ ( 220 ) $ 26,867 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 At December 31, 2022, maturities of the Company's available-for-sale securities were as follows: Less than one year $ 27,087 $ — $ ( 220 ) $ 26,867 Greater than one year $ — $ — $ — $ — |
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, 2022 2021 2020 COVID-19 $ 243,325 $ 76,874 $ 50,927 Genomics 54,335 63,350 36,878 HIV 38,812 42,144 44,224 HCV 13,369 11,783 8,448 Risk assessment testing 10,269 9,678 9,194 Microbiome 7,503 7,944 5,474 Laboratory services 7,296 11,840 8,746 Other product and service revenues 3,138 3,284 2,490 Net product and services revenues $ 378,047 $ 226,897 $ 166,381 Royalty income 2,683 4,420 3,432 Other non-product revenues 6,749 2,357 1,908 Other revenues 9,432 6,777 5,340 Net revenues $ 387,479 $ 233,674 $ 171,721 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, 2022 2021 2020 United States $ 350,206 $ 188,383 $ 130,835 Europe 11,536 13,799 12,068 Other regions 25,737 31,492 28,818 $ 387,479 $ 233,674 $ 171,721 |
Business Combinations (Tables)
Business Combinations (Tables) - UrSure Inc [Member] | 12 Months Ended |
Dec. 31, 2022 | |
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 Payments made during the period ( 208 ) Change in fair value during the period ( 188 ) Balance as of December 31, 2022 $ 164 |
Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | 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 Fair value of contingent consideration ( 3,440 ) Net Cash Paid (net of cash acquired of $ 111 ) $ 3,037 |
Government Capital Contracts (T
Government Capital Contracts (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 the Company's consolidated balance sheet are as follows: December 31, December 31, Other current assets: Billed receivables $ — $ 9,913 Unbilled receivables 27,013 20,591 Total other current assets 27,013 30,504 Other non-current assets — 3,854 Accrued expenses and other current liabilities $ ( 318 ) $ ( 8,103 ) |
Summary of Government Contracts Balances Included In Consolidated Statements Of Cashflows | The activity corresponding to the government contracts included in the Company's consolidated statements of cashflows is as follows: December 31, December 31, Cost of assets, cumulative $ 83,359 $ 26,224 Reduction for funding earned to date, not yet received ( 22,497 ) ( 25,693 ) Reduction for funding received to date ( 60,862 ) ( 531 ) Total property, plant and equipment, net $ — $ — |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventories | December 31, 2022 2021 Raw materials $ 42,445 $ 33,168 Work in process 2,335 2,252 Finished goods 51,452 17,718 $ 96,232 $ 53,138 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | December 31, 2022 2021 Land $ 1,118 $ 1,118 Buildings and improvements 35,582 35,420 Machinery and equipment 60,725 57,919 Computer equipment and software 16,681 14,700 Furniture and fixtures 4,064 4,228 Construction in progress 11,124 21,207 129,294 134,592 Less accumulated depreciation ( 69,881 ) ( 61,157 ) $ 59,413 $ 73,435 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following table represents total goodwill by operating segment: December 31, 2022 2021 Diagnostics $ — $ 3,604 Molecular Solutions 35,104 36,675 $ 35,104 $ 40,279 The changes in goodwill are as follows: December 31, 2022 2021 Balance as of January 1 $ 40,279 $ 40,351 Impairment ( 3,604 ) — Purchase price adjustment — 18 Change related to foreign currency translation ( 1,571 ) ( 90 ) Balance as of December 31 $ 35,104 $ 40,279 |
Summary of Intangible Assets | Intangible assets consist of the following: December 31, 2022 Amortization Gross Accumulated Amortization Net Customer relationships 10 $ 14,286 $ ( 11,011 ) $ 3,275 Patents and product rights 5 7,620 ( 6,615 ) 1,005 Developed technology 7 - 10 15,478 ( 9,940 ) 5,538 Tradename 5 - 15 5,387 ( 3,511 ) 1,876 $ 42,771 $ ( 31,077 ) $ 11,694 December 31, 2021 Amortization Gross Accumulated 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 |
Summary of Amortization Expense | Amortization expense for each of the five succeeding fiscal years and beyond is estimated as follows: 2023 $ 2,221 2024 2,183 2025 1,947 2026 1,591 2027 1,520 Beyond 2,232 $ 11,694 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | December 31, 2022 2021 Payroll and related benefits $ 14,103 $ 15,570 Commitment to purchase under government contract — 8,103 Professional fees 4,685 3,335 Sales tax payable 1,519 2,227 Other 5,455 4,543 $ 25,762 $ 33,778 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Lessee Disclosure [Abstract] | |
Summary of Components of Lease Expense | The components of lease expense are as follows: Years ended December 31, 2022 2021 2020 Operating lease cost $ 2,910 $ 2,226 $ 1,291 Variable and short-term lease cost 521 201 — Finance lease cost: Amortization of right-of use assets 1,299 900 627 Interest on lease liabilities 94 82 72 Total finance lease cost 1,393 982 699 Total lease cost $ 4,824 $ 3,409 $ 1,990 |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases is as follows: Years ended December 31, 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,209 $ 3,733 $ 1,280 Operating cash flows from financing leases 94 82 72 Financing cash flows from financing leases 1,381 686 687 Non-cash activity: Right-of-use assets obtained in exchange for operating lease obligations 3,963 6,480 498 Right-of-use assets obtained in exchange for finance lease obligations 117 2,074 46 |
Summary of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is as follows: December 31, 2022 2021 Operating Leases Right-of-use assets $ 10,399 $ 9,056 Lease liabilities: Current lease liabilities 1,764 2,181 Non-current lease liabilities 9,101 7,202 Total operating lease liabilities $ 10,865 $ 9,383 Finance Leases Right-of-use assets $ 1,293 $ 2,493 Lease liabilities: Current lease liabilities 1,179 939 Non-current lease liabilities 503 1,952 Total finance lease liabilities $ 1,682 $ 2,891 |
Summary of Lease Term and Discount Rate | Weighted Average Remaining Lease Term Weighted-average remaining lease term—operating leases 6.24 years 5.26 years Weighted-average remaining lease term—finance leases 1.33 years 2.21 years Weighted Average Discount Rate Weighted-average discount rate—operating leases 4.06 % 3.90 % Weighted-average discount rate—finance leases 3.44 % 3.57 % |
Schedule of Minimum Lease Payments by Period Expected | As of December 31, 2022, minimum lease payments by period are expected to be as follows: Finance Operating 2023 $ 1,216 $ 1,898 2024 505 2,311 2025 20 1,928 2026 12 1,710 2027 — 1,544 Thereafter — 3,083 Total minimum lease payments 1,753 12,474 Less: imputed interest ( 71 ) ( 1,609 ) Present value of lease liabilities $ 1,682 $ 10,865 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 2021 2020 United States $ ( 7,912 ) $ ( 60,500 ) $ ( 47,995 ) Foreign ( 8,564 ) 51,208 44,471 $ ( 16,476 ) $ ( 9,292 ) $ ( 3,524 ) |
Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) are as follows: Years Ended December 31, 2022 2021 2020 Current Federal $ — $ — $ — State 955 163 ( 106 ) Foreign 2,154 12,517 11,896 3,109 12,680 11,790 Deferred Federal ( 2,250 ) ( 10,318 ) ( 20,946 ) State ( 633 ) ( 965 ) ( 1,053 ) Foreign ( 2,617 ) ( 151 ) ( 410 ) ( 5,500 ) ( 11,434 ) ( 22,409 ) Increase (decrease) in valuation allowance 3,849 12,460 22,017 ( 1,651 ) 1,026 ( 392 ) Total income tax expense $ 1,458 $ 13,706 $ 11,398 |
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 the Company's effective tax rate for each of the years ended December 31, 2022, 2021, and 2020 is as follows: 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % Nondeductible executive compensation ( 5.5 ) ( 6.1 ) ( 0.9 ) Impact of share-based payment awards ( 4.8 ) ( 3.3 ) ( 12.4 ) Tax effect of foreign items ( 5.7 ) ( 30.8 ) ( 70.7 ) State income taxes, net of federal benefit ( 0.8 ) 6.8 26.0 U.S. and foreign tax credits 3.6 2.5 34.9 Nondeductible transaction costs — — ( 2.8 ) Nondeductible expenses and other 7.0 ( 4.0 ) ( 2.6 ) NOL adjustment due to change in GILTI regulations — — 308.9 Change in valuation allowance, federal and state ( 23.7 ) ( 133.6 ) ( 624.8 ) Effective tax rate ( 8.9 ) % ( 147.5 ) % ( 323.4 ) % |
Components of Total Deferred Tax Assets (Liabilities) | Significant components of the Company's deferred tax assets (liabilities) as of December 31, 2022 and 2021 are as follows: 2022 2021 Deferred tax assets (liabilities): Net operating loss carryforwards $ 39,783 $ 44,191 Inventories 4,504 4,642 Capitalized research and development costs 6,505 453 Accruals and reserves currently not deductible 2,799 3,245 Acquired intangible assets ( 2,641 ) ( 3,117 ) Depreciation and amortization ( 6,227 ) ( 8,536 ) Right-of-use assets ( 2,775 ) ( 2,777 ) Lease liabilities 2,990 2,957 Stock-based compensation 3,032 1,891 Tax credit carryforwards 4,509 3,855 Net deferred tax asset 52,479 46,804 Valuation allowance ( 52,887 ) ( 49,038 ) Net deferred tax liability $ ( 408 ) $ ( 2,234 ) |
Expiry Details of Federal Net Operating Losses Carryforwards | Federal NOL carryforwards expire as follows: Year of Expiration NOLs 2030 - 2033 $ 36,107 2034 - 2037 12,055 Non-Expiring 117,885 $ 166,047 |
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the Company's unrecognized tax benefits is as follows: 2022 2021 2020 Balance as of January 1 $ 805 $ 1,172 $ 1,308 Additions for tax positions of prior periods 1 1 1 Reductions for tax positions of prior periods ( 433 ) ( 368 ) ( 137 ) Balance as of December 31 $ 373 $ 805 $ 1,172 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 2021 2020 Risk-free interest rate (1) 1.65 % 0.47 % 1.33 % Expected dividend yield — — — Expected stock price volatility (2) 50 % 50 % 42 % Expected life of stock options (in years) (2) 5 5 5 (1) Based on the constant maturity interest rate of U.S. Treasury securities whose term is consistent with the expected life of the Company's stock options. (2) Based upon historical experience. |
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, 2022 1,410 $ 10.73 Granted 589 8.86 Exercised ( 2 ) 7.17 Expired ( 28 ) 10.01 Forfeited ( 211 ) 9.63 Outstanding on December 31, 2022 1,758 $ 10.25 6.54 $ — Vested or expected to vest as of December 31, 2022 1,633 $ 10.29 7.03 $ — Exercisable on December 31, 2022 1,045 $ 10.67 5.11 $ — |
Schedule of Currently Outstanding and Exercisable Stock Options | The following table summarizes information about stock options outstanding as of December 31, 2022: Options outstanding Options exercisable Range of exercise prices Number Weighted- Weighted- Number Weighted- $ 5.37 -$ 8.86 1,036 7.2 $ 7.83 435 $ 6.83 $ 8.87 -$ 13.31 362 4.8 10.67 357 10.64 $ 14.95 -$ 22.43 360 6.5 16.79 253 17.30 1,758 6.5 $ 10.25 1,045 $ 10.67 |
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, 2022 701 $ 11.53 Granted 2,995 6.45 Vested ( 750 ) 9.50 Forfeited ( 373 ) 9.47 Issued and unvested, December 31, 2022 2,573 $ 6.51 Issued and expected to vest, December 31, 2022 2,538 $ 6.53 |
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, 2022 622 $ 9.88 Granted (1) 532 8.86 Performance adjustment (2) 36 N/A Vested ( 241 ) 11.09 Forfeited ( 234 ) 10.50 Issued and unvested, December 31, 2022 715 $ 6.86 Issued and expected to vest, December 31, 2022 698 $ 6.82 (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, 2022 | |
Segment Reporting [Abstract] | |
Summary of Operating Segment and Asset Information | The following table summarizes operating segment information for the years ended December 31, 2022, 2021, and 2020, and asset information as of December 31, 2022 and 2021: Years ended December 31, 2022 2021 2020 Net revenues: Diagnostics $ 303,673 $ 90,040 $ 65,240 Molecular Solutions 83,806 143,634 106,481 Total $ 387,479 $ 233,674 $ 171,721 Operating income (loss): Diagnostics $ ( 598 ) $ ( 57,177 ) $ ( 43,156 ) Molecular Solutions ( 22,359 ) 47,013 37,979 Total $ ( 22,957 ) $ ( 10,164 ) $ ( 5,177 ) Depreciation and amortization: Diagnostics $ 8,099 $ 4,325 $ 3,345 Molecular Solutions 7,209 7,333 6,042 Total $ 15,308 $ 11,658 $ 9,387 Capital expenditures: Diagnostics (1) $ 3,644 $ 12,265 $ 17,860 Molecular Solutions 3,130 9,628 8,814 Total $ 6,774 $ 21,893 $ 26,674 (1) Excludes $ 57,135 and $ 26,224 for purchases of property and equipment under government contracts for the years ended December 31, 2022 and 2021 respectively. No purchases of property and equipment under government contracts were made in 2020. December 31, 2022 2021 Total assets: Diagnostics $ 279,994 $ 209,674 Molecular Solutions 164,714 251,316 Total $ 444,708 $ 460,990 |
Presentation of Total Long-Lived Assets by Geographic Area | The following table represents total long-lived assets by geographic area: December 31, 2022 2021 United States $ 60,751 $ 72,376 Canada 8,526 11,488 Other regions 1,828 1,120 $ 71,105 $ 84,984 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Estimate of Future Purchases | The table below represents an estimate of future purchases under those agreements. 2023 $ 21,710 2024 9,695 2025 6,928 2026 — 2027 — $ 38,333 |
The Company - Additional Inform
The Company - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 Segment | |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Income taxes paid | $ 9,446 | $ 13,727 | $ 9,263 |
Write-offs against allowance for doubtful accounts | 2,296 | 115 | 501 |
Accruals for purchases of property and equipment | 227 | 8,166 | 802 |
Cash and cash equivalents | 83,980 | 116,762 | |
Fair value of plan assets | 747 | 1,763 | |
Deferred revenue | $ 2,273 | 2,936 | |
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 | $ 4,849 | 5,103 | 1,126 |
Net foreign exchange (losses) gains | 1,553 | (667) | $ (337) |
Accumulated foreign currency adjustments included in other comprehensive loss amounted | 18,215 | 9,643 | |
Unrealized loss on marketable securities | 220 | 434 | |
Long-term Contract [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Deferred revenue | 740 | 1,093 | |
Money Market Fund [Member] | Level I Instruments [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cash and cash equivalents | $ 1,730 | $ 1,160 | |
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 | 436 | 769 | 984 |
Up Front Payment Arrangement [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Deferred revenue | $ 1,533 | $ 1,843 | |
Customer [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Percentage of concentration risk | 57% | 0% | |
Customer [Member] | Net Consolidated Revenue [Member] | Customer Concentration Risk [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Percentage of concentration risk | 58% | ||
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 | $ 5,728 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Available-for-sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 27,087 | $ 53,722 |
Gross Unrealized Losses | (220) | (434) |
Fair Value | 26,867 | 53,288 |
Guaranteed Investment Certificates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 22,109 | 33,249 |
Fair Value | 22,109 | 33,249 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,978 | 20,473 |
Gross Unrealized Losses | (220) | (434) |
Fair Value | 4,758 | $ 20,039 |
Less Than One Year [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 27,087 | |
Gross Unrealized Losses | (220) | |
Fair Value | $ 26,867 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Total Net Revenues by Product Line (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 387,479 | $ 233,674 | $ 171,721 |
Product and Services Revenues [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 378,047 | 226,897 | 166,381 |
Product and Services Revenues [Member] | COVID-19 [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 243,325 | 76,874 | 50,927 |
Product and Services Revenues [Member] | Genomics [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 54,335 | 63,350 | 36,878 |
Product and Services Revenues [Member] | HIV [ Member ] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 38,812 | 42,144 | 44,224 |
Product and Services Revenues [Member] | HCV [ Member ] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 13,369 | 11,783 | 8,448 |
Product and Services Revenues [Member] | Risk Assessment Testing [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 10,269 | 9,678 | 9,194 |
Product and Services Revenues [Member] | Microbiome [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 7,503 | 7,944 | 5,474 |
Product and Services Revenues [Member] | Laboratory Services [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 7,296 | 11,840 | 8,746 |
Product and Services Revenues [Member] | Other Product And Services Revenues [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 3,138 | 3,284 | 2,490 |
Other [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 9,432 | 6,777 | 5,340 |
Other [Member] | Royalty Income [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 2,683 | 4,420 | 3,432 |
Other [Member] | Other Non Product Revenues [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 6,749 | $ 2,357 | $ 1,908 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Summary of Total Net Revenues by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 387,479 | $ 233,674 | $ 171,721 |
United States [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 350,206 | 188,383 | 130,835 |
Europe [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | 11,536 | 13,799 | 12,068 |
Other Regions [Member] | |||
Disaggregation Of Revenue [Line Items] | |||
Net revenues | $ 25,737 | $ 31,492 | $ 28,818 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Jul. 22, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | ||||
Business acquisition contingent consideration, non-current | $ 99 | $ 354 | ||
Net revenues | 387,479 | 233,674 | $ 171,721 | |
Net income (loss) | $ (17,934) | $ (22,998) | (14,922) | |
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 | |||
Total consideration | $ 3,037 | |||
UrSure Inc [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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business Acquisition, Contingent Consideration [Line Items] | |||
Change in fair value during the period | $ (188) | $ (1,485) | $ (1,099) |
Ur Sure Inc [Member] | |||
Business Acquisition, Contingent Consideration [Line Items] | |||
Beginning Balance | 560 | 2,451 | |
Estimated fair value of contingent consideration as of acquisition date | 3,440 | ||
Payments made during the period | (208) | (406) | |
Change in fair value during the period | (188) | (1,485) | (989) |
Ending Balance | $ 164 | $ 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Jul. 22, 2020 |
Assets Acquired | ||||
Goodwill | $ 35,104 | $ 40,279 | $ 40,351 | |
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 | |||
Fair value of contingent consideration | (3,440) | |||
Net Cash Paid | $ 3,037 |
Business Combinations - Summa_3
Business Combinations - Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jul. 22, 2020 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | ||
Net of cash acquired | $ 3,037 | |
UrSure Inc [Member] | ||
Business Acquisition [Line Items] | ||
Net of cash acquired | $ 111 |
Government Capital Contracts -
Government Capital Contracts - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Government capital contracts funding amount | $ 109,000 | ||||
Property, plant and equipment, net | $ 59,413 | $ 73,435 | |||
Proceeds from funding under government contract | $ 60,331,000 | 60,331 | 531 | ||
Remaining expected Fund Under Government Contract | $ 48,669,000 | ||||
Percentage withheld under government contracts subject to validation testing | 15% | ||||
Net revenues | $ 387,479 | 233,674 | $ 171,721 | ||
Government Contract [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Property, plant and equipment, net | 0 | 0 | |||
Reduction in property, plant and equipment | (14,729) | ||||
Increase in other current assets | 10,875 | ||||
Increase in other noncurrent assets | 3,854 | ||||
Revision of Prior Period, Reclassification, Adjustment [Member] | Government Contract [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Property, plant and equipment, net | 14,729 | ||||
Other Income [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Net revenues | 9,432 | 6,777 | $ 5,340 | ||
Other Income [Member] | Government Contract [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Net revenues | 2,246 | $ 561 | |||
Research and Development Expenses and Other Income [Member] | Government Contract [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Reimbursement of engineering cost | $ 1,422 |
Government Capital Contracts _2
Government Capital Contracts - Summary of Government Contracts Balance Included in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other current assets: | ||
Total other current assets | $ 41,569 | $ 39,865 |
Other noncurrent assets | 1,087 | 5,069 |
Accrued expenses and other current liabilities | 25,762 | 33,778 |
Government Contract [Member] | ||
Other current assets: | ||
Billed receivables | 0 | 9,913 |
Unbilled receivables | 27,013 | 20,591 |
Total other current assets | 27,013 | 30,504 |
Other noncurrent assets | 0 | 3,854 |
Accrued expenses and other current liabilities | $ (318) | $ (8,103) |
Government Capital Contracts _3
Government Capital Contracts - Summary of Government Contracts Included in Statements of Cashflows (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Cost of assets, cumulative | $ 129,294 | $ 134,592 |
Property plant and equipment Net | 59,413 | 73,435 |
Government Contract [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Cost of assets, cumulative | 83,359 | 26,224 |
Reduction for funding earned, not yet received | (22,497) | (25,693) |
Reduction for funding received | (60,862) | (531) |
Property plant and equipment Net | $ 0 | $ 0 |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Inventory, Net [Abstract] | ||
Raw materials | $ 42,445 | $ 33,168 |
Work in process | 2,335 | 2,252 |
Finished goods | 51,452 | 17,718 |
Inventories | $ 96,232 | $ 53,138 |
Inventories - Additional Inform
Inventories - Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Inventory [Line Items] | |||
Inventory adjustments | $ 15,618 | $ 13,400 | $ 2,564 |
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, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | $ 129,294 | $ 134,592 |
Less accumulated depreciation | (69,881) | (61,157) |
Property plant and equipment Net | 59,413 | 73,435 |
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 | 35,582 | 35,420 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 60,725 | 57,919 |
Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 16,681 | 14,700 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | 4,064 | 4,228 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment Gross | $ 11,124 | $ 21,207 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 11,740 | $ 7,498 | $ 5,514 |
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration] | Asset Impairment Charges | ||
Molecular Solutions [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Pre-tax asset impairment charge | $ 8,585 | ||
Diagnostics [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Pre-tax asset impairment charge | $ 4,912 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Schedule of Goodwill by Operating Segment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Goodwill [Line Items] | |||
Goodwill | $ 35,104 | $ 40,279 | $ 40,351 |
Diagnostics [Member] | |||
Goodwill [Line Items] | |||
Goodwill | 3,604 | ||
Molecular Solutions [Member] | |||
Goodwill [Line Items] | |||
Goodwill | $ 35,104 | $ 36,675 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Schedule of Changes in Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill [Roll Forward] | ||
Beginning Balance | $ 40,279 | $ 40,351 |
Impairment | (3,604) | |
Purchase price adjustment | 18 | |
Change related to foreign currency translation | (1,571) | (90) |
Ending Balance | $ 35,104 | $ 40,279 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 42,771 | $ 44,755 |
Intangible Assets, Accumulated Amortization | (31,077) | (30,412) |
Intangible Assets, Net | $ 11,694 | $ 14,343 |
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 | $ 14,286 | $ 15,016 |
Intangible Assets, Accumulated Amortization | (11,011) | (11,205) |
Intangible Assets, Net | $ 3,275 | $ 3,811 |
Patents and Product Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Amortization Period (Years) | 5 years | 5 years |
Intangible Assets, Gross | $ 7,620 | $ 7,785 |
Intangible Assets, Accumulated Amortization | (6,615) | (6,241) |
Intangible Assets, Net | 1,005 | 1,544 |
Developed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | 15,478 | 16,293 |
Intangible Assets, Accumulated Amortization | (9,940) | (9,725) |
Intangible Assets, Net | $ 5,538 | $ 6,568 |
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 | $ 5,387 | $ 5,661 |
Intangible Assets, Accumulated Amortization | (3,511) | (3,241) |
Intangible Assets, Net | $ 1,876 | $ 2,420 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Line Items] | |||
Amortization expense | $ 2,269 | $ 3,260 | $ 3,246 |
Pre-tax impairment charge | $ 3,604 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets - Summary of Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2022 | $ 2,221 | |
2023 | 2,183 | |
2024 | 1,947 | |
2025 | 1,591 | |
2026 | 1,520 | |
Beyond | 2,232 | |
Intangible Assets, Net | $ 11,694 | $ 14,343 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Accrued Liabilities, Current [Abstract] | ||
Payroll and related benefits | $ 14,103 | $ 15,570 |
Commitment to purchase under government contract | 0 | 8,103 |
Professional fees | 4,685 | 3,335 |
Sales tax payable | 1,519 | 2,227 |
Other | 5,455 | 4,543 |
Accrued expenses and other current liabilities | $ 25,762 | $ 33,778 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 | $ 117 | $ 2,074 | $ 46 |
Fixed rent payments to be paid over lease term | $ 12,474 | ||
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 | 10 years |
Leases - Summary of Components
Leases - Summary of Components of Lease Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lease, Cost [Abstract] | |||
Operating lease cost | $ 2,910 | $ 2,226 | $ 1,291 |
Variable and short-term lease cost | 521 | 201 | |
Finance Lease Cost | |||
Amortization of right-of use assets | 1,299 | 900 | 627 |
Interest on lease liabilities | 94 | 82 | 72 |
Total finance lease cost | 1,393 | 982 | 699 |
Total lease cost | $ 4,824 | $ 3,409 | $ 1,990 |
Leases - Summary of Supplementa
Leases - Summary of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities: | |||
Operating cash flows from operating leases | $ 2,209 | $ 3,733 | $ 1,280 |
Operating cash flows from financing leases | 94 | 82 | 72 |
Financing cash flows from financing leases | 1,381 | 686 | 687 |
Non-cash activity | |||
Right-of-use assets obtained in exchange for operating lease obligations | 3,963 | 6,480 | 498 |
Right-of-use assets obtained in exchange for finance lease obligations | $ 117 | $ 2,074 | $ 46 |
Leases - Summary of Supplemen_2
Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Leases | ||
Right-of-use assets | $ 10,399 | $ 9,056 |
Lease liabilities: | ||
Current lease liabilities | 1,764 | 2,181 |
Non-current lease liabilities | 9,101 | 7,202 |
Total operating lease liabilities | 10,865 | 9,383 |
Finance Leases | ||
Right-of-use assets | 1,293 | 2,493 |
Lease liabilities: | ||
Current lease liabilities | 1,179 | 939 |
Non-current lease liabilities | 503 | 1,952 |
Total finance lease liabilities | $ 1,682 | $ 2,891 |
Leases - Summary of Lease Term
Leases - Summary of Lease Term and Discount Rate (Detail) | Dec. 31, 2022 | Dec. 31, 2021 |
Weighted Average Remaining Lease Term | ||
Weighted-average remaining lease term—operating leases | 6 years 2 months 26 days | 5 years 3 months 3 days |
Weighted-average remaining lease term—finance leases | 1 year 3 months 29 days | 2 years 2 months 15 days |
Weighted Average Discount Rate | ||
Weighted-average discount rate—operating leases | 4.06% | 3.90% |
Weighted-average discount rate—finance leases | 3.44% | 3.57% |
Leases - Schedule of Minimum Le
Leases - Schedule of Minimum Lease Payments by Period Expected (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Finance Lease Liabilities, Payments, Due [Abstract] | ||
2023 | $ 1,216 | |
2024 | 505 | |
2025 | 20 | |
2026 | 12 | |
Total minimum finance lease payments | 1,753 | |
Less: imputed interest | (71) | |
Present Value of Finance Lease Liabilities | 1,682 | $ 2,891 |
Operating Lease Liabilities, Payments Due [Abstract] | ||
2023 | 1,898 | |
2024 | 2,311 | |
2025 | 1,928 | |
2026 | 1,710 | |
2027 | 1,544 | |
Thereafter | 3,083 | |
Total Minimum Operating Lease Payments | 12,474 | |
Less: imputed interest | (1,609) | |
Present Value of Operating Lease Liabilities | $ 10,865 | $ 9,383 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest [Abstract] | |||
United States | $ (7,912) | $ (60,500) | $ (47,995) |
Foreign | (8,564) | 51,208 | 44,471 |
Loss before income taxes | $ (16,476) | $ (9,292) | $ (3,524) |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 955,000 | 163,000 | (106,000) |
Foreign | 2,154,000 | 12,517,000 | 11,896,000 |
Total current income tax expense (benefit) | 3,109,000 | 12,680,000 | 11,790,000 |
Deferred | |||
Federal | (2,250,000) | (10,318,000) | (20,946,000) |
State | (633,000) | (965,000) | (1,053,000) |
Foreign | (2,617,000) | (151,000) | (410,000) |
Total deferred income tax expense (benefit) | (5,500,000) | (11,434,000) | (22,409,000) |
Increase (decrease) in valuation allowance | 3,849,000 | 12,460,000 | 22,017,000 |
Deferred income taxes | (1,651,000) | 1,026,000 | (392,000) |
Total income tax expense | $ 1,458,000 | $ 13,706,000 | $ 11,398,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jan. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Contingency [Line Items] | ||||||
Foreign income tax expense (benefit) | $ (1,200,000) | $ 503,000 | $ 13,543,000 | $ 12,185,000 | ||
U.S. federal income tax benefits | 0 | 0 | 0 | |||
Foreign earnings repatriated | $ 65,000,000 | |||||
Gross unrecognized tax benefits | 373,000 | 805,000 | 1,172,000 | $ 1,308,000 | ||
State income tax expense (benefit) | $ 955,000 | 163,000 | (794,000) | |||
Canada [Member] | ||||||
Income Tax Contingency [Line Items] | ||||||
Foreign income tax expense (benefit) | $ 13,543,000 | $ 12,192,000 | ||||
Withholding tax paid on the repatriation | $ 1,700,000 | $ 1,703,000 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory U.S. federal income tax rate | 21% | 21% | 21% |
Nondeductible executive compensation | (5.50%) | (6.10%) | (0.90%) |
Impact of share-based payment awards | (4.80%) | (3.30%) | (12.40%) |
Tax effect of foreign items | (5.70%) | (30.80%) | (70.70%) |
State income taxes, net of federal benefit | (0.80%) | 6.80% | 26% |
U.S. and foreign tax credits | 3.60% | 2.50% | 34.90% |
Nondeductible transaction costs | (2.80%) | ||
Nondeductible expenses and other | 7% | (4.00%) | (2.60%) |
NOL adjustment due to change in GILTI regulations | 308.90% | ||
Change in valuation allowance, federal and state | (23.70%) | (133.60%) | (624.80%) |
Effective tax rate | (8.90%) | (147.50%) | (323.40%) |
Income Taxes - Components of To
Income Taxes - Components of Total Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax assets (liabilities): | ||
Net operating loss carryforwards | $ 39,783 | $ 44,191 |
Inventories | 4,504 | 4,642 |
Capitalized research and development costs | 6,505 | 453 |
Accruals and reserves currently not deductible | 2,799 | 3,245 |
Acquired intangible assets | (2,641) | (3,117) |
Depreciation and amortization | (6,227) | (8,536) |
Right-of-use assets | (2,775) | (2,777) |
Lease liabilities | 2,990 | 2,957 |
Stock-based compensation | 3,032 | 1,891 |
Tax credit carryforwards | 4,509 | 3,855 |
Net deferred tax asset | 52,479 | 46,804 |
Valuation allowance | (52,887) | (49,038) |
Net deferred tax liability | $ (408) | $ (2,234) |
Income Taxes - Expiry Details o
Income Taxes - Expiry Details of Federal Net Operating Losses Carryforwards (Detail) $ in Thousands | Dec. 31, 2022 USD ($) |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 166,047 |
2030 - 2033 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 36,107 |
2034- 2037 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 12,055 |
Non-Expiring [Member] | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 117,885 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance as of January 1 | $ 805 | $ 1,172 | $ 1,308 |
Additions for tax positions of prior periods | 1 | 1 | 1 |
Reductions for tax positions of prior periods | (433) | (368) | (137) |
Balance as of December 31 | $ 373 | $ 805 | $ 1,172 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | 12 Months Ended | ||||
Jun. 01, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 05, 2008 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares available for future grants under the Stock Plan | 3,921,000 | ||||
Amount share repurchase program of common shares | $ 25,000,000 | ||||
Total cost of common stock purchased and retired | $ 2,254,000 | $ 2,113,000 | $ 2,088,000 | ||
Proceeds from exercise of stock options | 15,000 | 246,000 | 3,222,000 | ||
Income tax benefit realized from stock option exercises during period | 0 | 0 | 0 | ||
Total compensation cost | $ 11,622,000 | $ 7,807,000 | $ 7,139,000 | ||
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% | ||||
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 | $ 4.15 | $ 6.14 | $ 2.79 | ||
Aggregate intrinsic value of options exercised | $ 4,000 | $ 130,000 | $ 3,117,000 | ||
Unrecognized compensation expense related to unvested option awards | $ 2,583,000 | ||||
Expected weighted-average period for recognition of compensation expense related to unvested awards | 2 years 7 months 6 days | ||||
Proceeds from exercise of stock options | $ 15,000 | 246,000 | 3,222,000 | ||
Total compensation cost | $ 1,515,000 | 1,063,000 | 892,000 | ||
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 9 months 18 days | ||||
Total compensation cost | $ 9,169,000 | $ 4,094,000 | $ 4,094,000 | ||
Unrecognized compensation expense related to unvested restricted stock awards | $ 11,185,000 | ||||
Vesting of restricted shares, withholding and exercise obligations | 241,000 | 107,000 | 127,000 | ||
Restricted shares of common stock, aggregate values | $ 1,621,000 | $ 1,417,000 | $ 1,219,000 | ||
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 | 88,000 | 46,000 | 121,000 | ||
Total cost of common stock purchased and retired | $ 633,000 | $ 696,000 | $ 869,000 | ||
Expected weighted-average period for recognition of compensation expense related to unvested awards | 1 year 7 months 6 days | ||||
Total compensation cost | $ 938,000 | $ 2,650,000 | $ 2,153,000 | ||
Unrecognized compensation expense related to unvested restricted stock awards | $ 316,000 | ||||
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% | ||||
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% |
Stockholders' Equity - Weighted
Stockholders' Equity - Weighted-Average Assumptions for Fair Value Measurement (Detail) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||
Risk-free interest rate | [1] | 1.65% | 0.47% | 1.33% |
Expected dividend yield | 0% | 0% | 0% | |
Expected stock price volatility | [2] | 50% | 50% | 42% |
Expected life of stock options (in years) | [2] | 5 years | 5 years | 5 years |
[1] Based on the constant maturity interest rate of U.S. Treasury securities whose term is consistent with the expected life of the Company's stock options. Based upon historical experience. |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Company's Stock Option Activity (Detail) shares in Thousands | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward] | |
Options, Outstanding, Beginning Balance | shares | 1,410 |
Options, Granted | shares | 589 |
Options, Exercised | shares | (2) |
Options, Expired | shares | (28) |
Options, Forfeited | shares | (211) |
Options, Outstanding, Ending Balance | shares | 1,758 |
Options, Vested or expected to vest | shares | 1,633 |
Options, Exercisable | shares | 1,045 |
Weighted-Average Exercise Price Per Share, Outstanding, Beginning Balance | $ / shares | $ 10.73 |
Weighted-Average Exercise Price Per Share, Granted | $ / shares | 8.86 |
Weighted-Average Exercise Price Per Share, Exercised | $ / shares | 7.17 |
Weighted-Average Exercise Price Per Share, Expired | $ / shares | 10.01 |
Weighted-Average Exercise Price Per Share, Forfeited | $ / shares | 9.63 |
Weighted-Average Exercise Price Per Share, Outstanding, Ending Balance | $ / shares | 10.25 |
Weighted-Average Exercise Price Per Share, Vested or expected to vest | $ / shares | 10.29 |
Weighted-Average Exercise Price Per Share, Exercisable | $ / shares | $ 10.67 |
Weighted-Average Remaining Contractual Term, Outstanding | 6 years 6 months 14 days |
Weighted-Average Remaining Contractual Term, Vested or expected to vest | 7 years 10 days |
Weighted-Average Remaining Contractual Term, Exercisable | 5 years 1 month 9 days |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Currently Outstanding and Exercisable Stock Options (Detail) shares in Thousands | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number Outstanding, Options outstanding | shares | 1,758 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 6 years 6 months |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 10.25 |
Number Exercisable, Options exercisable | shares | 1,045 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 10.67 |
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 | $ 8.86 |
Number Outstanding, Options outstanding | shares | 1,036 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 7 years 2 months 12 days |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 7.83 |
Number Exercisable, Options exercisable | shares | 435 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 6.83 |
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 | 362 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 4 years 9 months 18 days |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 10.67 |
Number Exercisable, Options exercisable | shares | 357 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 10.64 |
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 | 360 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | 6 years 6 months |
Weighted-Average Exercise Price Per Share, Options outstanding | $ 16.79 |
Number Exercisable, Options exercisable | shares | 253 |
Weighted-Average Exercise Price Per Share, Options exercisable | $ 17.30 |
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, 2022 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares, Issued and unvested, Beginning Balance | shares | 701 |
Shares, Granted | shares | 2,995 |
Shares, Vested | shares | (750) |
Shares, Forfeited | shares | (373) |
Shares, Issued and unvested, Ending Balance | shares | 2,573 |
Shares, Issued and expected to vest | shares | 2,538 |
Weighted-Average Grant Date Fair Value, Issued and unvested, Beginning Balance | $ / shares | $ 11.53 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 6.45 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 9.50 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 9.47 |
Weighted-Average Grant Date Fair Value, Issued and unvested, Ending Balance | $ / shares | 6.51 |
Weighted-Average Grant Date Fair Value, Issued and expected to vest | $ / shares | $ 6.53 |
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, 2022 $ / shares shares | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares, Issued and unvested, Beginning Balance | 622 | |
Shares, Granted | 532 | [1] |
Performance adjustment | 36 | [2] |
Shares, Vested | (241) | |
Shares, Forfeited | (234) | |
Shares, Issued and unvested, Ending Balance | 715 | |
Shares, Issued and expected to vest | 698 | |
Weighted-Average Grant Date Fair Value, Issued and unvested, Beginning Balance | $ / shares | $ 9.88 | |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 8.86 | [1] |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 11.09 | |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 10.50 | |
Weighted-Average Grant Date Fair Value, Issued and unvested, Ending Balance | $ / shares | 6.86 | |
Weighted-Average Grant Date Fair Value, Issued and expected to vest | $ / shares | $ 6.82 | |
[1] Grant activity for all PSUs disclosed at target. Reflects the performance adjustment based on actual performance measured at the end of the performance period. |
Transition Costs - Additional I
Transition Costs - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Transition Costs [Line Items] | |||
Severance accrual | $ 1,569 | ||
Stock-based compensation | $ 11,622 | $ 7,807 | $ 7,139 |
Transition costs [Member] | |||
Transition Costs [Line Items] | |||
Stock-based compensation | $ 1,508 |
Business Segment Information -
Business Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 Segment | |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Net revenues | $ 387,479 | $ 233,674 | $ 171,721 |
Operating income (loss) | (22,957) | (10,164) | (5,177) |
Depreciation and amortization | 15,308 | 11,658 | 9,387 |
Capital expenditures | 6,774 | 21,893 | 26,674 |
Total assets | 444,708 | 460,990 | |
Diagnostics [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 303,673 | 90,040 | 65,240 |
Operating income (loss) | (598) | (57,177) | (43,156) |
Depreciation and amortization | 8,099 | 4,325 | 3,345 |
Capital expenditures | 3,644 | 12,265 | 17,860 |
Total assets | 279,994 | 209,674 | |
Molecular Solutions [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 83,806 | 143,634 | 106,481 |
Operating income (loss) | (22,359) | 47,013 | 37,979 |
Depreciation and amortization | 7,209 | 7,333 | 6,042 |
Capital expenditures | 3,130 | 9,628 | $ 8,814 |
Total assets | $ 164,714 | $ 251,316 |
Business Segment Information _3
Business Segment Information - Summary of Operating Segment and Asset Information (Parenthetical) (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Purchases of property and equipment under government contracts | $ 57,135,000 | $ 26,224,000 | |
Diagnostics [Member] | |||
Segment Reporting Information [Line Items] | |||
Purchases of property and equipment under government contracts | $ 57,135,000 | $ 26,224,000 | $ 0 |
Business Segment Information _4
Business Segment Information - Presentation of Total Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long lived assets | $ 71,105 | $ 84,984 |
United States [Member] | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long lived assets | 60,751 | 72,376 |
Canada [Member] | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long lived assets | 8,526 | 11,488 |
Other Regions [Member] | ||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||
Long lived assets | $ 1,828 | $ 1,120 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Estimate of Future Purchases (Detail) $ in Thousands | Dec. 31, 2021 USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2023 | $ 21,710 |
2024 | 9,695 |
2025 | 6,928 |
Total | $ 38,333 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
Estimated penalties to be incurred under minimum purchase commitments | $ 1,143 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 CAD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Employee contributions | $ 4,000 | |||
Contributed to plan, net of forfeitures | 1,763,000 | $ 1,295,000 | $ 994,000 | |
Value of the assets associated with the plan | 747,000 | 1,763,000 | ||
Total obligation under plan | 747,000 | 1,763,000 | ||
RRSP [Member] | DNA Genotek [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employee contributions | $ 4,000 | |||
Contributed to plan, net of forfeitures | $ 453,000 | $ 448,000 | $ 366,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Feb. 14, 2023 |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Reduction percentage on non-production workforce | 11% |