Cryoport (CYRX) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Entity File Number	001-34632
Entity Registrant Name	CRYOPORT, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	88-0313393
Entity Address, Address Line One	112 Westwood Place, Suite 350
Entity Address, City or Town	Brentwood
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37027
City Area Code	949
Local Phone Number	470-2300
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	CYRX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,879,018
Entity Central Index Key	0001124524
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 67,314	$ 36,595
Short-term investments	437,360	486,728
Accounts receivable, net	43,076	43,858
Inventories	28,821	27,678
Prepaid expenses and other current assets	8,616	9,317
Total current assets	585,187	604,176
Property and equipment, net	69,008	63,603
Operating lease right-of-use assets	30,011	26,877
Intangible assets, net	194,992	191,009
Goodwill	149,308	151,117
Deposits	1,210	1,017
Deferred tax assets	934	947
Total assets	1,030,650	1,038,746
Current Liabilities:
Accounts payable and other accrued expenses	26,124	28,046
Accrued compensation and related expenses	8,717	8,458
Deferred revenue	927	439
Current portion of operating lease liabilities	4,234	3,720
Current portion of finance lease liabilities	191	128
Current portion of notes payable	61	60
Total current liabilities	40,254	40,851
Convertible senior notes, net of discount of $8.9 million and $10.1 million, respectively	407,992	406,708
Notes payable	347	355
Operating lease liabilities, net of current portion	27,520	24,721
Finance lease liabilities, net of current portion	624	216
Deferred tax liabilities	4,658	4,929
Other long-term liabilities	361	451
Contingent consideration	4,639	4,677
Total liabilities	486,395	482,908
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 48,879,018 and 48,334,280 issued and outstanding at June 30, 2023 and December 31, 2022, respectively	49	48
Additional paid-in capital	1,123,180	1,114,896
Accumulated deficit	(566,761)	(542,832)
Accumulated other comprehensive loss	(34,488)	(34,549)
Total stockholders' equity	544,255	555,838
Total liabilities and stockholders' equity	1,030,650	1,038,746
Class A convertible preferred stock
Stockholders' Equity:
Preferred stock
Class B convertible preferred stock
Stockholders' Equity:
Preferred stock
Series C convertible preferred stock
Stockholders' Equity:
Preferred stock	$ 22,275	$ 18,275

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Convertible senior notes, discount	$ 8.9	$ 10.1
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,500,000	2,500,000
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	48,879,018	48,334,280
Common stock, shares outstanding	48,879,018	48,334,280
Class A convertible preferred stock
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	800,000	800,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class B convertible preferred stock
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	585,000	585,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Conversion of Series C Preferred Stock
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	250,000	250,000
Preferred stock, shares issued	200,000	200,000
Preferred stock, shares outstanding	200,000	200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total revenues	$ 57,021	$ 64,153	$ 119,838	$ 116,455
Total cost of revenues	32,288	35,315	68,033	65,276
Gross margin	24,733	28,838	51,805	51,179
Operating costs and expenses:
Selling, general and administrative	38,802	30,563	72,043	57,185
Engineering and development	4,263	3,522	8,139	7,060
Total operating costs and expenses	43,065	34,085	80,182	64,245
Loss from operations	(18,332)	(5,247)	(28,377)	(13,066)
Other income (expense):
Investment income	2,647	2,048	5,114	3,312
Interest expense	(1,331)	(1,586)	(2,840)	(3,077)
Other income (expense), net	(704)	(4,028)	3,301	(9,045)
Total other income (expense), net	612	(3,566)	5,575	(8,810)
Loss before provision for income taxes	(17,720)	(8,813)	(22,802)	(21,876)
Provision for income taxes	(635)	(364)	(1,127)	(705)
Net loss	(18,355)	(9,177)	(23,929)	(22,581)
Paid-in-kind dividend on Series C convertible preferred stock	(2,000)	(2,000)	(4,000)	(4,000)
Net loss attributable to common stockholders	$ (20,355)	$ (11,177)	$ (27,929)	$ (26,581)
Net loss per share - basic	$ (0.42)	$ (0.23)	$ (0.58)	$ (0.54)
Net loss per share - diluted	$ (0.42)	$ (0.23)	$ (0.58)	$ (0.54)
Weighted average shares outstanding - basic	48,709,384	48,792,559	48,536,901	49,467,691
Weighted average shares outstanding - diluted	48,709,384	48,792,559	48,536,901	49,467,691
Service
Total revenues	$ 35,204	$ 34,585	$ 71,040	$ 67,495
Total cost of revenues	20,008	19,111	39,084	37,829
Product
Total revenues	21,817	29,568	48,798	48,960
Total cost of revenues	$ 12,280	$ 16,204	$ 28,949	$ 27,447

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (18,355)	$ (9,177)	$ (23,929)	$ (22,581)
Other comprehensive income (loss), net of tax:
Net unrealized gain (loss) on available-for-sale debt securities	(1,223)	(5,310)	2,452	(19,374)
Reclassification of realized loss on available-for-sale debt securities to earnings	532	14	631	46
Foreign currency translation adjustments	(4,226)	(7,558)	(3,022)	(8,605)
Other comprehensive income (loss)	(4,917)	(12,854)	61	(27,933)
Total comprehensive loss	$ (23,272)	$ (22,031)	$ (23,868)	$ (50,514)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock Class C Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Other Comprehensive Loss	Total
Balance, Beginning at Dec. 31, 2021	$ 10,275	$ 50	$ 1,100,287	$ (467,541)	$ (1,243)	$ 641,828
Balance, Beginning (in shares) at Dec. 31, 2021	200,000	49,616,154
Net loss				(22,581)		(22,581)
Other comprehensive income (loss), net of taxes					(27,933)	(27,933)
Stock-based compensation expense			9,383			9,383
Issuance of common stock for Cell&Co acquisition			479			479
Issuance of common stock for Cell&Co acquisition (in shares)		15,152
Paid-in-kind preferred stock dividend	$ 4,000		(4,000)
Repurchase of common stock		$ (1)	(24,999)	(8,349)		(33,349)
Repurchase of common stock (in shares)		(1,341,571)
Vesting of restricted stock units (in shares)		80,912
Proceeds from exercise of stock options			597			597
Proceeds from exercise of stock options (in shares)		111,855
Balance, Ending at Jun. 30, 2022	$ 14,275	$ 49	1,081,747	(498,471)	(29,176)	568,424
Balance, Ending (in shares) at Jun. 30, 2022	200,000	48,482,502
Balance, Beginning at Dec. 31, 2021	$ 10,275	$ 50	1,100,287	(467,541)	(1,243)	$ 641,828
Balance, Beginning (in shares) at Dec. 31, 2021	200,000	49,616,154
Repurchase of common stock (in shares)						(1,604,994)
Balance, Ending at Dec. 31, 2022	$ 18,275	$ 48	1,114,896	(542,832)	(34,549)	$ 555,838
Balance, Ending (in shares) at Dec. 31, 2022	200,000	48,334,280
Balance, Beginning at Mar. 31, 2022	$ 12,275	$ 50	1,102,725	(489,294)	(16,322)	609,434
Balance, Beginning (in shares) at Mar. 31, 2022	200,000	49,453,307
Net loss				(9,177)		(9,177)
Other comprehensive income (loss), net of taxes					(12,854)	(12,854)
Stock-based compensation expense			5,258			5,258
Issuance of common stock for Cell&Co acquisition			479			479
Issuance of common stock for Cell&Co acquisition (in shares)		15,152
Paid-in-kind preferred stock dividend	$ 2,000		(2,000)
Repurchase of common stock		$ (1)	(24,999)			(25,000)
Repurchase of common stock (in shares)		(1,035,271)
Vesting of restricted stock units (in shares)		22,517
Proceeds from exercise of stock options			284			284
Proceeds from exercise of stock options (in shares)		26,797
Balance, Ending at Jun. 30, 2022	$ 14,275	$ 49	1,081,747	(498,471)	(29,176)	568,424
Balance, Ending (in shares) at Jun. 30, 2022	200,000	48,482,502
Balance, Beginning at Dec. 31, 2022	$ 18,275	$ 48	1,114,896	(542,832)	(34,549)	555,838
Balance, Beginning (in shares) at Dec. 31, 2022	200,000	48,334,280
Net loss				(23,929)		(23,929)
Other comprehensive income (loss), net of taxes					61	61
Stock-based compensation expense			10,984			$ 10,984
Paid-in-kind preferred stock dividend	$ 4,000		(4,000)
Repurchase of common stock (in shares)						0
Vesting of restricted stock units (in shares)		209,124
Proceeds from exercise of stock options		$ 1	1,300			$ 1,301
Proceeds from exercise of stock options (in shares)		335,614
Balance, Ending at Jun. 30, 2023	$ 22,275	$ 49	1,123,180	(566,761)	(34,488)	544,255
Balance, Ending (in shares) at Jun. 30, 2023	200,000	48,879,018
Balance, Beginning at Mar. 31, 2023	$ 20,275	$ 48	1,118,172	(548,406)	(29,571)	560,518
Balance, Beginning (in shares) at Mar. 31, 2023	200,000	48,501,406
Net loss				(18,355)		(18,355)
Other comprehensive income (loss), net of taxes					(4,917)	(4,917)
Stock-based compensation expense			5,800			5,800
Paid-in-kind preferred stock dividend	$ 2,000		(2,000)
Vesting of restricted stock units (in shares)		52,536
Proceeds from exercise of stock options		$ 1	1,208			1,209
Proceeds from exercise of stock options (in shares)		325,076
Balance, Ending at Jun. 30, 2023	$ 22,275	$ 49	$ 1,123,180	$ (566,761)	$ (34,488)	$ 544,255
Balance, Ending (in shares) at Jun. 30, 2023	200,000	48,879,018

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows From Operating Activities:
Net loss	$ (23,929)	$ (22,581)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	13,127	10,845
Amortization of debt discount	1,283	1,286
Non-cash operating lease expense	2,281	1,834
Unrealized (gain) loss on investments in equity securities	(105)	8,556
Realized loss on available-for-sale investments	69	80
Stock-based compensation expense	10,984	9,383
Loss on disposal of property and equipment	190	304
Gain on insurance settlement	(2,642)
Change in credit losses	(133)	35
Excess and obsolete inventory		546
Insurance proceeds for operations	1,212	6,311
Change in contingent consideration	(68)
Changes in operating assets and liabilities:
Accounts receivable	1,104	(4,291)
Inventories	(1,247)	(9,476)
Prepaid expenses and other current assets	1,251	(1,043)
Deposits	(197)	27
Operating lease liabilities	(2,102)	(1,807)
Accounts payable and other accrued expenses	(2,874)	(4,283)
Accrued compensation and related expenses	248	(1,581)
Deferred revenue	488	(151)
Net deferred tax liability	(220)	(481)
Net cash used in operating activities	(1,280)	(6,487)
Cash Flows From Investing Activities:
Purchases of property and equipment	(18,243)	(9,060)
Insurance proceeds for loss of fixed assets	976	3,000
Software development costs	(2,534)	(564)
Purchases of short-term investments		(136,611)
Acquisitions		(2,107)
Sales/maturities of short-term investments	52,487	84,760
Patent and trademark costs	(391)	(358)
Net cash provided by (used in) investing activities	32,295	(60,940)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	1,300	597
Repurchase of common stock		(33,349)
Repayment of notes payable	(11)	(639)
Repayment of finance lease liabilities	(70)	(18)
Net cash provided by (used in) financing activities	1,219	(33,409)
Effect of exchange rates on cash and cash equivalents	(1,515)	(1,231)
Net change in cash and cash equivalents	30,719	(102,067)
Cash and cash equivalents - beginning of period	36,595	139,101
Cash and cash equivalents - end of period	67,314	37,034
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	1,725	1,884
Cash paid for income taxes	1,103	714
Supplemental Disclosure of Non-Cash Financing Activities:
Operating lease right-of-use assets and operating lease liabilities	5,603	2,103
Net unrealized (gain) loss on available-for-sale debt securities	2,452	(19,374)
Reclassification of realized loss on available-for-sale debt securities to earnings	(631)	(46)
Paid-in-kind preferred stock dividend, including beneficial conversion feature	4,000	4,000
Fixed assets included in accounts payable and accrued liabilities	$ 822	397
Common stock issued for Cell&Co acquisition		$ 479

Management's Representation and

Management's Representation and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Management's Representation and Basis of Presentation
Management's Representation and Basis of Presentation	Note 1. Management’s Representation and Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Cryoport, Inc. (the “Company”, “Cryoport”, “our” or “we”) in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statement presentation. However, the Company believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (consisting primarily of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The Company has evaluated subsequent events through the date of this filing and determined that no subsequent events have occurred that would require recognition in the unaudited condensed consolidated financial statements or disclosure in the notes thereto other than as disclosed in the accompanying notes.

Nature of the Business

Nature of the Business	6 Months Ended
	Jun. 30, 2023
Nature of the Business
Nature of the Business	Note 2. Nature of the Business Cryoport serves the life sciences industry as a provider of integrated temperature-controlled supply chain solutions supporting the biopharma/pharma, animal health, and reproductive medicine markets. Our mission is to support life and health worldwide and we are continuously developing, implementing, and leveraging our supply chain platform, which is designed to deliver comprehensive, unparalleled, highly differentiated temperature-controlled logistics, packaging, storage, cryogenic systems, informatics, and related services for life science products, regenerative medicine, cellular therapies, and treatments that require unique, specialized cold chain management. The Company is a Nevada corporation and its common stock is traded on the NASDAQ Capital Market exchange under the ticker symbol “CYRX.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	There have been no material changes to the Company’s significant accounting policies during the six months ended June 30, 2023, as compared to the significant accounting policies disclosed in Note 2 – Summary of Significant Accounting Policies to the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Foreign Currency Transactions Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the period-end exchange rates. Income and expenses are translated at an average exchange rate for the period and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The translation loss adjustment totaled $3.0 million and $8.6 million for the six months ended June 30, 2023 and 2022, respectively. Foreign currency gains and losses from transactions denominated in other than respective local currencies are included in earnings. Recently Adopted Accounting Pronouncements In September 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,” which is intended to enhance the transparency surrounding the use of supplier finance programs in connection with the purchase of goods and services. Supplier finance programs may also be referred to as reverse factoring, payables finance, or structured payables arrangements. The amendments in ASU 2022-04 require a buyer that uses supplier finance programs to disclose sufficient qualitative and quantitative information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. ASU 2022-04 is effective for all entities for fiscal years beginning after December 15, 2022, on a retrospective basis, including interim periods with those fiscal years, except for the requirement to disclose roll-forward information, which is effective prospectively for fiscal years beginning after December 15, 2023. We adopted ASU 2022-04 on January 1, 2023. The adoption of this standard did not have an impact on the Company’s consolidated financial statements or disclosures as the Company currently does not have supplier finance programs. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which addresses and amends areas identified by the FASB as part of its post-implementation review of the accounting standard that introduced the current expected credit losses (“CECL”) model. The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current-period gross write offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. For entities, such as Cryoport, that had not In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” ASU 2021-08 requires contract assets and contract liabilities acquired in a business combination to be recognized and measured in accordance with Topic 606, Revenue from Contracts with Customers, on the acquisition date as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for public business entities. We adopted ASU 2021-08 on January 1, 2023. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements or disclosures. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information for credit loss estimates on certain types of financial instruments, including trade receivables. In addition, new disclosures are required. The ASU, as subsequently amended, is effective for the Company for fiscal years beginning after December 15, 2022, as the Company was a smaller reporting company as of November 15, 2019, the determination date. We adopted ASU 2016-13 on January 1, 2023. Based on the composition of the Company’s accounts receivable, investment portfolio, and other financial assets, including current market conditions and historical credit loss activity, the adoption of this standard did not have a material impact on the Company’s consolidated financial statements or disclosures. Specifically, the Company’s estimate of expected credit losses as of June 30, 2023, using its expected credit loss evaluation process described above, resulted in no adjustments to the provision for credit losses and no cumulative-effect adjustment to accumulated deficit on the adoption date of the standard. Accounting Guidance Issued but Not Adopted at June 30, 2023 In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions,” which amends the guidance in Topic 820, Fair Value Measurement

Revenue, Concentrations and Geo

Revenue, Concentrations and Geographic Information	6 Months Ended
	Jun. 30, 2023
Revenue, Concentrations and Geographic Information
Revenue, Concentrations and Geographic Information	Note 4. Revenue, Concentrations and Geographic Information Customers The Company grants credit to customers within the U.S. and international customers and does not require collateral. Revenues from international customers are generally secured by advance payments except for established foreign customers. The Company generally requires advance or credit card payments for initial revenues from new customers. The Company’s ability to collect receivables can be affected by economic fluctuations in the geographic areas and industries served by the Company. Credit loss reserves for uncollectible amounts are provided based on past experience and a specific analysis of the accounts, which management believes to be sufficient. Accounts receivable at June 30, 2023 and December 31, 2022 are net of provision for credit losses of $1.2 million and $1.3 million, respectively. Although the Company expects to collect amounts due, actual collections may differ from the estimated amounts. The Company maintains reserves for credit losses and such losses, in the aggregate, historically have not exceeded its estimates. The Company’s customers are in the biopharma, pharmaceutical, animal health, reproductive medicine, and other life science industries. Consequently, there is a concentration of accounts receivable within these industries, which is subject to normal credit risk. There were no customers that accounted for more than 10% of net accounts receivable at June 30, 2023 and December 31, 2022. The Company has revenue from foreign customers primarily in the United Kingdom, France, Germany, China and India. During the three months ended June 30, 2023 and 2022, the Company had revenues from foreign customers of approximately $25.9 million and $29.3 million, respectively, which constituted approximately 45.3% and 45.6%, respectively, of total revenues. No single customer generated over 10% of revenues during the three months ended June 30, 2023 and 2022. During the six months ended June 30, 2023 and 2022, the Company had revenues from foreign customers of approximately $55.1 million and $53.7 million, respectively, which constituted approximately 45.9% and 46.1%, respectively, of total revenues. No single customer generated over 10% of revenues during the six months ended June 30, 2023 and 2022. Revenue Disaggregation The Company views its operations, makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. As a result, the financial information disclosed herein represents all of the material financial information related to the Company. When disaggregating revenue, the Company considered all of the economic factors that may affect its revenues. We consider sales disaggregated by end-market to depict how the nature, amount, timing and uncertainty of revenues and cash flows are impacted by changes in economic factors. The following table disaggregates our revenues by major markets for the three and six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2023 2022 2023 2022 Biopharma/Pharma ​ $ 46,533 ​ $ 52,591 ​ $ 97,655 ​ $ 95,601 Animal Health ​ 7,873 ​ ​ 9,285 ​ ​ 16,736 ​ ​ 16,079 Reproductive Medicine ​ ​ 2,615 ​ ​ 2,277 ​ ​ 5,447 ​ ​ 4,775 Total revenues ​ $ 57,021 ​ $ 64,153 ​ $ 119,838 ​ $ 116,455 ​ Prior year amounts in animal health and reproductive medicine have been reclassified within revenue to biopharma/pharma. These reclassifications had no effect on the previously reported total revenues. ​ Given that the Company’s revenues are generated in different geographic regions, factors such as regulatory and geopolitical factors within those regions could impact the nature, timing and uncertainty of the Company’s revenues and cash flows. Our geographical revenues, by origin, for the three and six months ended June 30, 2023 and 2022, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2023 2022 2023 2022 Americas ​ $ 31,164 ​ $ 34,893 ​ $ 64,781 ​ $ 62,771 Europe, the Middle East, and Africa (EMEA) ​ 15,112 ​ ​ 16,854 ​ ​ 33,271 ​ ​ 33,041 Asia Pacific (APAC) ​ 10,745 ​ ​ 12,406 ​ ​ 21,786 ​ ​ 20,643 Total revenues ​ $ 57,021 ​ $ 64,153 ​ $ 119,838 ​ $ 116,455 ​ Contract Liabilities (Deferred Revenue) Contract liabilities are recorded when cash payments are received in advance of the Company’s performance. Deferred revenue was $0.9 million and $0.4 million at June 30, 2023 and December 31, 2022, respectively. During the three months ended June 30, 2023 and 2022, the Company recognized revenues of $0.5 million and $0.4 million, respectively, from the related contract liabilities outstanding as the services were performed. Credit Losses The accounts receivable balance on our consolidated balance sheet as of June 30, 2023 was $43.1 million, net of $1.2 million of allowances. The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected at June 30, 2023: ​ ​ ​ ​ ​ Balance at January 1, 2023 $ 1,275 Change in expected credit losses ​ (10) Write-offs, net of recoveries ​ ​ (59) Balance at June 30, 2023 ​ $ 1,206 ​

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Net Loss Per Share
Net Loss Per Share	Note 5. Net Loss Per Share We calculate basic and diluted net loss per share using the weighted average number of common shares outstanding during the periods presented. In periods of a net loss position, basic and diluted weighted average common shares are the same. For the diluted earnings per share calculation, we adjust the weighted average number of common shares outstanding to include dilutive stock options, unvested restricted stock units and shares associated with the conversion of the Company’s 0.75% Convertible Senior Notes due in 2026 (the “2026 Senior Notes”), the Company’s 3.0% Convertible Senior Notes due in 2025 (the “2025 Senior Notes” and together with the 2026 Senior Notes, the “Convertible Senior Notes”) and convertible preferred stock outstanding during the periods. The following shows the amounts used in computing net loss per share (in thousands except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Net loss ​ $ (18,355) ​ $ (9,177) ​ $ (23,929) ​ $ (22,581) Paid-in-kind dividend on Series C convertible preferred stock ​ (2,000) ​ ​ (2,000) ​ ​ (4,000) ​ ​ (4,000) Net loss attributable to common shareholders ​ $ (20,355) ​ $ (11,177) ​ $ (27,929) ​ $ (26,581) Weighted average common shares issued and outstanding - basic and diluted ​ ​ 48,709,384 ​ ​ 48,792,559 ​ ​ 48,536,901 ​ ​ 49,467,691 Basic and diluted net loss per share ​ $ (0.42) ​ $ (0.23) ​ $ (0.58) ​ $ (0.54) ​ The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Stock options 3,012,284 ​ 3,457,046 ​ 3,100,326 ​ 3,845,882 Restricted stock units ​ 1,093,390 ​ 709,481 ​ 1,093,390 ​ 709,481 Series C convertible preferred stock ​ 5,778,389 ​ 5,552,919 ​ 5,778,389 ​ 5,552,919 Conversion of 2026 Senior Notes ​ 3,422,780 ​ 3,422,780 ​ 3,422,780 ​ 3,422,780 Conversion of 2025 Senior Notes 599,954 ​ 599,954 ​ 599,954 ​ 599,954 ​ 13,906,797 ​ 13,742,180 ​ 13,994,839 ​ 14,131,016 ​

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Acquisitions
Acquisitions	Note 6. Acquisitions 2022 Acquisitions In April 2022, we completed the acquisition of Cell&Co BioServices in Clermont-Ferrand, France with additional operations in Pont-du-Château, France to further enhance our existing global temperature-controlled supply chain capabilities. Cell&Co BioServices is a bioservices business providing biorepository, kitting, and logistics services to the life sciences industry. The purchase consideration was €5.7 million ($6.2 million), comprised of upfront consideration of €3.2 million ($3.5 million) in cash, 15,152 shares of the Company’s common stock with a fair value of $0.4 million, and an earn-out provision with a fair value of €2.0 million ($2.2 million) based on achieving annual EBITDA targets through 2025, as defined in the share purchase agreement. Of the purchase consideration, $2.7 million was allocated to goodwill and $3.4 million to identifiable intangible assets. The acquired goodwill and intangible assets are not deductible for tax purposes. In July 2022, the Company completed the acquisition of Polar Expres based in Madrid, Spain, which provides temperature-controlled logistics solutions dedicated to the life sciences industry. Polar Expres operates logistics centers in Madrid and Barcelona supporting the rapidly growing life science market. This acquisition further expands CRYOPDP’s footprint which enhances our existing global temperature-controlled supply chain capabilities and provides us with additional growth opportunities in the EMEA region. The purchase consideration was €2.8 million ($2.8 million), comprised of cash consideration of €1.4 million ($1.4 million) and an earn-out provision with a fair value of €1.4 million ($1.4 million) based on achieving 2024 and 2026 EBITDA targets as defined in the share purchase agreement. Of the purchase consideration, $1.7 million was allocated to goodwill and $1.0 million to identifiable intangible assets. The acquired goodwill and intangible assets are not deductible for tax purposes. In July 2022, the Company also completed the acquisition of Cell Matters based in Liège, Belgium, which provides cryo-process optimization, cryoprocessing, and cryopreservation solutions to the life sciences industry. The purchase consideration was €3.9 million ($4.0 million). The purchase consideration, including the reimbursement of financial indebtedness at the closing date, in the amount of €4.7 million ($4.7 million) in aggregate was allocated to goodwill. The value of this acquisition is assigned to Cell Matters’ assembled workforce which has significant expertise in cryo-process optimization and cryopreservation. Through June 30, 2023, the Company recorded a measurement period adjustment of $0.1 million comprised of a refund from the sellers following payments made from Cell Matters to the sellers between the locked box date and the closing date, in accordance with the locked box mechanism as defined in the share purchase agreement. The acquired goodwill is not deductible for tax purposes.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	6 Months Ended
	Jun. 30, 2023
Cash, Cash Equivalents and Short-Term Investments
Cash, Cash Equivalents and Short-Term Investments	Note 7. Cash, Cash Equivalents and Short-Term Investments Cash, cash equivalents and short-term investments consisted of the following as of June 30, 2023 and December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Cash ​ $ 34,168 ​ $ 34,752 Cash equivalents: ​ ​ ​ ​ ​ Money market mutual fund ​ 33,146 ​ ​ 1,843 Total cash and cash equivalents ​ 67,314 ​ ​ 36,595 Short-term investments: ​ ​ ​ ​ ​ U.S. Treasury notes and bills ​ 150,810 ​ ​ 190,718 Mutual funds ​ 99,882 ​ ​ 99,777 Corporate debt securities ​ ​ 186,668 ​ ​ 196,233 Total short-term investments ​ 437,360 ​ ​ 486,728 Cash, cash equivalents and short-term investments ​ $ 504,674 ​ $ 523,323 ​ Available-for-sale investments The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ ​ Cost Gains Losses Fair Value U.S. Treasury notes ​ $ 149,221 ​ $ 1,621 ​ $ (32) ​ $ 150,810 Corporate debt securities ​ ​ 185,805 ​ ​ 1,113 ​ ​ (250) ​ ​ 186,668 Total available-for-sale investments ​ $ 335,026 ​ $ 2,734 ​ $ (282) ​ $ 337,478 ​ The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Fair Value Due within one year ​ $ 125,428 ​ $ 127,084 Due after one year through five years ​ 209,598 ​ ​ 210,394 Due after five years through ten years ​ ​ — ​ ​ — Total ​ $ 335,026 ​ $ 337,478 ​ The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at December 31, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ ​ Cost Gains Losses Fair Value U.S. Treasury notes ​ $ 199,626 $ 5 ​ $ (8,913) ​ $ 190,718 Corporate debt securities ​ ​ 210,764 ​ 1,243 ​ (15,774) ​ ​ 196,233 Total available-for-sale investments ​ $ 410,390 $ 1,248 ​ $ (24,687) ​ $ 386,951 ​ The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Fair Value Due within one year ​ $ 129,568 ​ $ 126,776 Due after one year through five years ​ 280,822 ​ ​ 260,175 Due after five years through ten years ​ ​ — ​ ​ — Total ​ $ 410,390 ​ $ 386,951 ​ The primary objective of our investment portfolio is to enhance overall returns in an efficient manner while maintaining safety of principal, prudent levels of liquidity and acceptable levels of risk. Our investment policy limits interest-bearing security investments to certain types of debt and money market instruments issued by institutions with primarily investment-grade credit ratings, and it places restrictions on maturities and concentration by asset class and issuer. We review our available-for-sale investments for other-than-temporary declines in fair value below our cost basis each quarter and whenever events or changes in circumstances indicate that the cost basis of an asset may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below our cost basis, as well as adverse conditions related specifically to the security such as any changes to the credit rating of the security and the intent to sell or whether we will more likely than not be required to sell the security before recovery of its amortized cost basis. Our assessment of whether a security is other-than-temporarily impaired could change in the future based on new developments or changes in assumptions related to that particular security. The following table shows the Company’s gross unrealized losses and fair value of available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury notes $ 2,675 ​ $ (19) ​ $ 148,135 ​ $ (13) ​ $ 150,810 ​ $ (32) Corporate debt securities ​ 19,601 ​ ​ (33) ​ ​ 167,067 ​ ​ (217) ​ ​ 186,668 ​ ​ (250) Total ​ $ 22,276 ​ $ (52) ​ $ 315,202 ​ $ (230) ​ $ 337,478 ​ $ (282) ​ For U.S. Treasury notes, the unrealized losses were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost of the investment. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider the U.S. Treasury notes to be other-than-temporarily impaired at June 30, 2023. For corporate debt securities, the unrealized losses were primarily caused by interest rate increases. The Company does not intend to sell these debt securities that are in an unrealized loss position, and it is not more likely than not that the Company will be required to sell these debt securities before recovery of their amortized cost bases, which may be at maturity. Based on the credit quality of the debt securities, and the Company’s estimates of future cash flows to be collected from those securities, the Company believes the unrealized losses are not credit losses. Accordingly, the Company does not consider the corporate debt securities to be other-than-temporarily impaired at June 30, 2023. During the three months ended June 30, 2023 and 2022 we had realized gains (losses) of $0.02 million and $(0.03) million on available-for-sale investments, respectively. During the six months ended June 30, 2023 and 2022 we had realized losses of $(0.07) million and $(0.08) million on available-for-sale investments, respectively. Equity Investments We held investments in equity securities with readily determinable fair values of $99.9 million at June 30, 2023. These investments consist of mutual funds that invest primarily in tax-free municipal bonds and treasury inflation protected securities. Unrealized losses during 2023 and 2022 related to equity securities held at June 30, 2023 and 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 Net losses recognized during the six months on equity securities ​ $ (1,405) ​ $ (8,556) Less: net gains (losses) recognized during the year on equity securities sold during the period ​ 1,510 ​ ​ — Unrealized losses recognized during the six months on equity securities still held at June 30, 2023 and 2022 ​ $ 105 ​ $ (8,556) ​

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements
Fair Value Measurements	Note 8. Fair Value Measurements We measure fair value based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based on a three-tier hierarchy that prioritizes the inputs used to measure fair value. These tiers include the following: Level 1: Level 2: Level 3: In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in the assessment of fair value. We did not elect the fair value option, as allowed, to account for financial assets and liabilities that were not previously carried at fair value. Therefore, material financial assets and liabilities that are not carried at fair value, such as trade accounts receivable and payable, are reported at their historical carrying values. The carrying values of our assets that are required to be measured at fair value on a recurring basis as of June 30, 2023 and 2022 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ Level 1 Level 2 Level 3 Total June 30, 2023 ​ ​ ​ ​ Assets: ​ ​ ​ ​ Money market mutual fund ​ $ 33,146 ​ $ — ​ $ — ​ $ 33,146 Mutual funds ​ 99,882 ​ ​ — ​ ​ — ​ ​ 99,882 U.S. Treasury notes ​ 150,810 ​ ​ — ​ ​ — ​ ​ 150,810 Corporate debt securities ​ ​ 186,668 ​ ​ — ​ ​ — ​ ​ 186,668 ​ ​ $ 470,506 ​ $ — ​ $ — ​ $ 470,506 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Senior Notes ​ $ — ​ $ 407,992 ​ $ — ​ $ 407,992 Contingent consideration ​ ​ — ​ ​ — ​ ​ 4,639 ​ ​ 4,639 ​ ​ $ — ​ $ 407,992 ​ $ 4,639 ​ $ 412,631 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ Level 1 Level 2 Level 3 Total December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ Money market mutual fund ​ $ 1,843 ​ $ — ​ $ — ​ $ 1,843 Mutual funds ​ 99,777 ​ — ​ — ​ 99,777 U.S. Treasury notes ​ ​ 190,718 ​ ​ — ​ ​ — ​ ​ 190,718 Corporate debt securities ​ 196,233 ​ — ​ — ​ 196,233 ​ ​ $ 488,571 ​ $ — ​ $ — ​ $ 488,571 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Senior Notes ​ $ — ​ $ 406,708 ​ $ — ​ $ 406,708 Contingent consideration ​ ​ — ​ ​ — ​ ​ 4,677 ​ ​ 4,677 ​ ​ $ — ​ $ 406,708 ​ $ 4,677 ​ $ 411,385 ​ Our equity securities and available-for-sale debt securities, including U.S. treasury notes and U.S. treasury bills are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within the fair value hierarchy. We did not have any financial liabilities measured at fair value on a recurring basis as of June 30, 2023. We carry the Convertible Senior Notes (see Note 11) at face value less the unamortized discount and issuance costs on our consolidated balance sheets and present fair value for disclosure purposes only. We estimate the fair value of the Convertible Senior Notes using the net present value of the payments, discounted at an interest rate that is consistent with market and risk-adjusted interest rates, which is a Level 2 input. The following table presents the estimated fair values and the carrying values (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 ​ December 31, 2022 ​ Carrying Value Fair Value Carrying Value Fair Value 2026 Senior Notes ​ $ 393,853 ​ $ 307,879 ​ $ 392,621 ​ $ 290,132 2025 Senior Notes ​ $ 14,139 ​ $ 12,869 ​ $ 14,087 ​ $ 12,373 ​ Under the terms of the CTSA acquisition, contingent consideration may be payable in cash based on the achievement of a certain EBITDA target for 2024, with no maximum limit as to the contingent consideration achievable. Under the terms of the F-airGate, Cell&Co, and Polar Expres acquisitions, contingent consideration may be payable in cash based on the achievement of certain future revenue and/or EBITDA targets during each annual period following the acquisition dates for a total of four years, up to a maximum of $6.1 million (undiscounted) in the aggregate. The fair value of the contingent consideration was measured at the end of each reporting period using Level 3 inputs. The fair value of the contingent consideration for the F-airGate and Polar Expres acquisitions was determined using a probability-weighted discounted cash flow model. The fair value of the contingent consideration for the CTSA and Cell&Co acquisitions was valued based on unobservable inputs using a Monte Carlo simulation. These inputs included the estimated amount and timing of projected future revenue, a discount rate, a risk-free rate, asset volatility and revenue volatility. Significant increases (decreases) in any of those inputs in isolation would result in a significantly higher (lower) fair value measurement. The contingent consideration was determined to have an aggregate fair value of $4.6 million and $4.7 million which is reflected as contingent consideration liability in the accompanying consolidated balance sheets as of June 30, 2023 and December 31, 2022, respectively. Certain assumptions used in estimating the fair value of the contingent consideration are uncertain by nature. Actual results may differ materially from estimates. ​ The losses recognized in earnings and the change in net assets related to the contingent consideration at June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Losses ​ ​ ​ ​ Foreign ​ Fair Value ​ ​ December 31, ​ recognized in ​ ​ ​ ​ Currency ​ June 30, ​ ​ 2022 ​ earnings Payments ​ Adjustment ​ 2023 2021 Acquisitions $ 902 $ 126 ​ $ — $ (15) $ 1,013 2022 Acquisitions ​ 3,775 ​ 77 ​ ​ (271) ​ 45 ​ 3,626 ​ ​ $ 4,677 ​ $ 203 ​ $ (271) ​ $ 30 ​ $ 4,639 ​ The losses recognized in earnings have been reported in operating expenses in the consolidated statement of operations for the six months ended June 30, 2023.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2023
Inventory
Inventory	Note 9. Inventory Inventories consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2023 ​ 2022 Raw materials ​ $ 17,357 ​ $ 18,287 Work-in-process ​ 1,054 ​ 895 Finished goods ​ 10,410 ​ 8,496 Total ​ $ 28,821 ​ $ 27,678 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 10. Goodwill and Intangible Assets Goodwill The following table represents the changes in the carrying value of goodwill for the six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2023 2022 Balance at beginning of year $ 151,117 ​ $ 146,954 Foreign currency adjustment ​ (1,809) ​ ​ (4,369) Goodwill related to CTSA and F-airGate acquisitions ​ ​ — ​ ​ 2,616 Total $ 149,308 ​ $ 145,201 ​ Intangible Assets The following table presents our intangible assets as of June 30, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Net ​ Average ​ ​ Gross ​ Accumulated ​ Carrying ​ Amortization ​ Amount Amortization Amount Period (years) Non-compete agreement ​ $ 390 ​ $ 318 ​ $ 72 ​ 1 Technology ​ ​ 47,178 ​ ​ 9,086 ​ ​ 38,092 ​ 10 Customer relationships ​ ​ 131,326 ​ ​ 25,423 ​ ​ 105,903 ​ 12 Trade name/trademark ​ ​ 818 ​ ​ 180 ​ ​ 638 ​ 12 Agent network ​ ​ 10,871 ​ ​ 6,724 ​ ​ 4,147 ​ 2 Order backlog ​ ​ 2,600 ​ ​ 2,600 ​ ​ — ​ — Land use rights ​ ​ 2,255 ​ ​ 269 ​ ​ 1,986 ​ 35 Patents and trademarks ​ ​ 44,166 ​ ​ 12 ​ ​ 44,154 ​ — Total ​ $ 239,604 ​ $ 44,612 ​ $ 194,992 ​ ​ ​ The following table presents our intangible assets as of December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Net ​ Average ​ ​ Gross ​ Accumulated ​ Carrying ​ Amortization ​ Amount Amortization Amount Period (years) Non-compete agreement ​ $ 390 ​ $ 280 ​ $ 110 1 Technology ​ ​ 36,592 ​ ​ 8,056 ​ ​ 28,536 ​ 9 Customer relationships ​ ​ 131,716 ​ ​ 21,254 ​ ​ 110,462 ​ 12 Trade name/trademark ​ ​ 820 ​ ​ 158 ​ ​ 662 ​ 13 Agent network ​ ​ 11,667 ​ ​ 6,199 ​ ​ 5,468 ​ 2 Order backlog ​ ​ 2,600 ​ ​ 2,600 ​ ​ — ​ — Land use rights ​ ​ 2,378 ​ ​ 257 ​ ​ 2,121 ​ 35 Patents and trademarks ​ ​ 45,181 ​ ​ 1,531 ​ ​ 43,650 — Total ​ $ 231,344 ​ $ 40,335 ​ $ 191,009 ​ ​ ​ Amortization expense for intangible assets for the three and six months ended June 30, 2023, was $3.9 million and $7.7 million, respectively. Amortization expense for intangible assets for the three and six months ended June 30, 2022 was $3.7 million and $7.5 million, respectively. Expected future amortization of intangible assets as of June 30, 2023 is as follows: ​ ​ ​ ​ ​ Years Ending December 31, Amount Remainder of 2023 (excluding the six months ended June 30, 2023) ​ $ 7,861 2024 ​ 15,124 2025 ​ 13,179 2026 ​ 12,928 2027 ​ 12,795 Thereafter ​ 83,201 ​ ​ $ 145,088 ​

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jun. 30, 2023
Convertible Senior Notes
Convertible Senior Notes	Note 11. Convertible Senior Notes Convertible Senior Notes payable consisted of the following at June 30, 2023 and December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Principal amount of 2025 Senior Notes ​ $ 14,344 ​ $ 14,344 Principal amount of 2026 Senior Notes ​ 402,500 ​ 402,500 Less: unamortized debt issuance costs ​ ​ (8,852) ​ ​ (10,136) Net carrying value of Convertible Senior Notes payable ​ $ 407,992 ​ $ 406,708 ​ Interest expense incurred in connection with the Convertible Senior Notes consisted of the following for the three and six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Coupon interest ​ $ 862 ​ $ 872 ​ $ 1,725 ​ $ 1,734 Amortization of debt issuance costs ​ ​ 643 ​ ​ 634 ​ ​ 1,283 ​ ​ 1,268 Total interest expense on Convertible Senior Notes ​ $ 1,505 ​ $ 1,506 ​ $ 3,008 ​ $ 3,002 ​ The Company’s 2025 Senior Notes and 2026 Senior Notes payable of $14.3 million and $402.5 million, respectively, are due and payable in 2025 and 2026, respectively. See Note 10 – Convertible Senior Notes

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2023
Notes Payable
Notes Payable	Note 12. Notes Payable Notes payable consisted of the following at June 30, 2023 and December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2023 ​ 2022 Principal amount of notes payable ​ $ 408 ​ $ 415 Less: current portion of notes payable ​ (61) ​ ​ (60) Notes payable – long term ​ $ 347 ​ $ 355 ​ Interest expense incurred in connection with the notes payable consisted of the following for the three and six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ June 30, ​ June 30, ​ 2023 2022 2023 2022 Interest expense ​ $ 1 ​ $ 2 ​ $ 2 ​ $ 2 Amortization of debt discount ​ — ​ ​ 11 ​ ​ — ​ ​ 21 Total interest expense on notes payable ​ $ 1 ​ $ 13 ​ $ 2 ​ $ 23 ​ Cell&Co Notes In connection with the acquisition of Cell&Co, the Company assumed two notes payable totaling €0.4 million ($0.4 million) bearing interest rates of 0.6% and 1.06%, respectively, payable quarterly, maturing in July 2027 and September 2030, respectively. Future note payments as of June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ Years Ending December 31, Amount 2023 (excluding the six months ended June 30, 2023) ​ $ 37 2024 ​ 76 2025 ​ 62 2026 ​ 63 2027 ​ 58 Thereafter ​ 112 Total note maturities ​ $ 408 ​

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases
Leases	Note 13. Leases The Company has operating and finance leases for corporate offices and certain equipment. These leases have remaining lease terms of one year to approximately nine years, some of which include options to extend the leases for multiple renewal periods of five years each. Under the terms of the facilities leases, the Company is required to pay its proportionate share of property taxes, insurance and normal maintenance costs. In October 2022, Cryoport Systems entered into a lease agreement commencing in 2024, for an administrative, global supply chain center and research and development center in Santa Ana, California, in the aggregate rental amount of $27.7 million spanning 10 years. This lease is not included in the balance sheet right-of-use asset and lease liability as it commences in 2024. The components of lease cost were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 Operating lease cost ​ $ 3,453 ​ $ 2,530 Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ ​ 79 ​ ​ 25 Interest on finance lease liabilities ​ ​ 19 ​ ​ 3 ​ ​ ​ 98 ​ ​ 28 Total lease cost ​ ​ 3,551 ​ ​ 2,558 ​ Other information related to leases was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Supplemental Cash Flows Information ​ Six Months Ended June 30, ​ 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ Operating cash flows from operating leases $ 3,323 ​ $ 2,444 Operating cash flows from finance leases $ 89 ​ $ 28 Financing cash flows from finance leases ​ $ 70 ​ $ 18 Right-of-use assets obtained in exchange for lease liabilities (in thousands): ​ ​ ​ ​ ​ ​ Operating leases $ 5,603 ​ $ 2,103 Finance leases ​ $ 538 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Weighted-Average Remaining Lease Term ​ ​ ​ Operating leases 11.8 years 12.4 years Finance leases 4.4 years 3.4 years ​ ​ ​ ​ ​ ​ Weighted-Average Discount Rate ​ ​ ​ ​ Operating leases 9.3 % 9.5 % Finance leases 8.4 % 7.8 % ​ Future minimum lease payments under non-cancellable leases that have commenced as of June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Finance Years Ending December 31 Leases Leases 2023 (excluding the three months ended June 30, 2023) ​ $ 3,346 ​ $ 140 2024 ​ 6,508 ​ ​ 222 2025 ​ 5,481 ​ ​ 218 2026 ​ 4,750 ​ ​ 191 2027 ​ 4,189 ​ ​ 107 Thereafter ​ ​ 29,541 ​ ​ 96 Total future minimum lease payments ​ 53,815 ​ ​ 974 Less imputed interest ​ (22,061) ​ ​ (159) Total ​ $ 31,754 ​ $ 815 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Finance Reported as of June 30, 2023 Leases Leases Current lease liabilities ​ $ 4,234 ​ $ 191 Noncurrent lease liabilities ​ 27,520 ​ ​ 624 Total ​ $ 31,754 ​ $ 815 ​

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies
Commitments and Contingencies	Note 14. Commitments and Contingencies MVE Biological Solutions Fire On January 25, 2022, a fire occurred at the MVE Biological Solutions manufacturing facility (“New Prague fire”) located in New Prague, Minnesota. The New Prague facility manufactures aluminum dewars and is one of MVE Biological Solutions’ three global manufacturing facilities. There were no injuries reported and damage was limited to a portion of the facility. As a consequence of the fire damage, the New Prague manufacturing operations were curtailed on an interim basis until the necessary repairs were completed. Production was resumed at the facility during the week of February 14, 2022 and ramped up production toward the end of the first quarter of 2022. The Company estimated that the revenue impact of the New Prague fire was approximately $9.4 million and was primarily limited to the first quarter of 2022. The New Prague fire resulted in a loss of inventory, fixed assets, and other contents at the site. We have adequate property damage and business interruption insurance under which we filed a claim with the insurance carrier. As of June 30, 2023, the Company received a total of $15.1 million in insurance proceeds, of which the final payment of $2.2 million was received in the first quarter of 2023. For the six months ended June 30, 2023, the Company recognized a gain of $2.6 million related to business interruption insurance proceeds. Proceeds from insurance settlements, except for those directly related to investing activities, were recognized as cash inflows from operating activities. The losses related to such an event are recognized as incurred. Insurance proceeds are recorded to the extent of the losses and then, only if recovery is realized or probable. Any gains in excess of losses are recognized only when the contingencies regarding the recovery are resolved, and the amount is fixed or determinable. Employment Agreements We have entered into employment agreements with certain of our officers under which payment and benefits would become payable in the event of termination by us for any reason other than cause, or upon a change in control of our Company, or by the employee for good reason. Litigation The Company may become a party to product litigation in the normal course of business. The Company accrues for open claims based on its historical experience and available insurance coverage. We record a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We also disclose material contingencies when we believe a loss is not probable but reasonably possible. Accounting for contingencies requires us to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. The outcomes of our legal proceedings are inherently unpredictable, subject to significant uncertainties, and could be material to our financial condition, results of operations, and cash flows for a particular period. Indemnities and Guarantees The Company has made certain indemnities and guarantees, under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain actions or transactions. The guarantees and indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated nor incurred any payments for these obligations and, therefore, no liabilities have been recorded for these indemnities and guarantees in the accompanying consolidated balance sheets. The Company indemnifies its directors, officers, employees and agents, as permitted under the laws of the States of California and Nevada. In connection with its facility and equipment leases, the Company has indemnified its lessors for certain claims arising from the use of the facilities and equipment. The duration of the guarantees and indemnities varies and is generally tied to the life of the agreements.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity
Stockholders' Equity	Note 15. Stockholders’ Equity Authorized Stock The Company has 100,000,000 authorized shares of common stock with a par value of $0.001 per share, and 2,500,000 undesignated or “blank check” preferred stock, with a par value of $0.001, of which, 800,000 shares have been designated as Class A Convertible Preferred Stock, 585,000 shares have been designated as Class B Convertible Preferred Stock and 250,000 shares have been designated as 4.0% Series C Convertible Preferred Stock. Repurchase Program In March 2022, the Company’s Board of Directors authorized a repurchase program (the “Repurchase Program”) through December 31, 2025, authorizing the repurchase of common stock and/or convertible senior notes in the amount of up to $100.0 million from time to time, on the open market or otherwise, in such quantities, at such prices, and in such manner as determined by the Company’s management at its discretion. The size and timing of any repurchase will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions, and applicable legal requirements. The Company purchased 1,604,994 shares of its common stock under the Repurchase Program during the year ended December 31, 2022, at an average price of $23.63 per share, for an aggregate purchase price of $37.9 million. These shares were returned to the status of authorized but unissued shares of common stock. All share repurchases were made using cash resources and are reported in the period based on the settlement date of the applicable repurchase. No shares were purchased during the six months ended June 30, 2023. Common Stock Reserved for Future Issuance As of June 30, 2023, approximately 18.3 million shares of common stock were issuable upon vesting, conversion or exercise of stock options, restricted stock units, the Convertible Senior Notes and the Series C Preferred Stock, as follows: ​ ​ ​ ​ Exercise of stock options 7,359,724 Vesting of restricted stock units 1,093,390 Conversion of Series C Preferred Stock 5,778,389 Conversion of convertible 2026 Senior Notes ​ 3,422,780 Conversion of convertible 2025 Senior Notes 599,954 Total shares of common stock reserved for future issuances 18,254,237 ​

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Stock-Based Compensation
Stock-Based Compensation	Note 16. Stock-Based Compensation Stock Options During the three and six months ended June 30, 2023 and 2022, we granted stock options at exercise prices equal to or higher than the quoted market price of our common stock on the grant date. The fair value of each option grant was estimated on the date of grant using Black-Scholes with the following weighted average assumptions: ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2023 2022 Expected life (years) ​ 3.8 - 5.2 ​ 3.8 - 5.2 Risk-free interest rate 3.5% - 4.1% ​ 2.1% - 3.6% Volatility ​ 69.9% - 76.2 ​ 67.5% - 76.8% Dividend yield 0% ​ 0% ​ The expected option life assumption is estimated based on the simplified method. Accordingly, the Company has utilized the average of the contractual term of the options and the weighted average vesting period for all options to calculate the expected option term. The risk-free interest rate assumption is based upon observed interest rates appropriate for the expected term of our employee stock options. The expected volatility is based on the average of the historical volatility and the implied volatility of our stock commensurate with the expected life of the stock-based award. We do not anticipate paying dividends on the common stock in the foreseeable future. We recognize stock-based compensation cost on a straight-line basis over the vesting period. Stock-based compensation expense is recognized only for those awards that ultimately vest. Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Cost of revenues ​ $ 575 ​ $ 711 ​ $ 1,050 ​ $ 1,178 Selling, general and administrative ​ 4,766 ​ ​ 4,056 ​ ​ 9,070 ​ ​ 7,347 Engineering and development ​ 459 ​ ​ 491 ​ ​ 864 ​ ​ 858 ​ ​ $ 5,800 ​ $ 5,258 ​ $ 10,984 ​ $ 9,383 ​ A summary of stock option activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ Weighted- ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ Number of ​ Exercise ​ Contractual ​ Intrinsic ​ Shares Price/Share Term (Years) Value (1) Outstanding — December 31, 2022 7,340,521 ​ $ 15.10 — ​ — Granted (weighted-average fair value of $12.65 per share) ​ 376,197 ​ ​ 21.43 ​ — ​ ​ — Exercised (335,614) ​ ​ 3.87 — ​ — Forfeited (21,380) ​ ​ 35.02 — ​ — Outstanding — June 30, 2023 7,359,724 ​ $ 15.87 ​ 4.8 ​ $ 43,495 Vested (exercisable) — June 30, 2023 6,097,926 ​ $ 12.94 ​ 4.4 ​ $ 43,378 Expected to vest after June 30, 2023 (unexercisable) 1,261,798 ​ $ 30.04 ​ 6.2 ​ $ 117 (1) Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on June 30, 2023, which was $17.25 per share. Total intrinsic value of options exercised during the six months ended June 30, 2023 and 2022 was $5.9 million and $3.1 million, respectively. As of June 30, 2023, there was unrecognized compensation expense of $21.1 million related to unvested stock options, which we expect to recognize over a weighted average period of 2.1 years. As of June 30, 2023, the Company had 813,811 shares available for future awards under the Cryoport Inc. 2018 Omnibus Equity Incentive Plan. Restricted stock units A summary of our restricted stock unit activity is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Restricted ​ Fair Value per ​ Stock Units Share Outstanding – December 31, 2022 ​ 727,984 ​ $ 38.32 Granted 603,261 ​ ​ 20.31 Share issuance ​ (209,124) ​ ​ 37.6 Forfeited (28,731) ​ ​ 33.43 Outstanding – June 30, 2023 1,093,390 ​ $ 28.65 ​ For the three months ended June 30, 2023 and 2022, we recorded stock-based compensation expense on our issued restricted stock units of $2.5 million and $2.1 million, respectively. For the six months ended June 30, 2023 and 2022, we recorded stock-based compensation expense on our issued restricted stock units of $4.6 million and $3.5 million, respectively. As of June 30, 2023 there was unrecognized compensation expense of $28.2 million related to unvested restricted stock units, which we expect to recognize over a weighted average period of 2.9 years.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies
Foreign Currency Transactions	Foreign Currency Transactions Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of foreign subsidiaries are translated into U.S. dollars at the period-end exchange rates. Income and expenses are translated at an average exchange rate for the period and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The translation loss adjustment totaled $3.0 million and $8.6 million for the six months ended June 30, 2023 and 2022, respectively. Foreign currency gains and losses from transactions denominated in other than respective local currencies are included in earnings.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In September 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,” which is intended to enhance the transparency surrounding the use of supplier finance programs in connection with the purchase of goods and services. Supplier finance programs may also be referred to as reverse factoring, payables finance, or structured payables arrangements. The amendments in ASU 2022-04 require a buyer that uses supplier finance programs to disclose sufficient qualitative and quantitative information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. ASU 2022-04 is effective for all entities for fiscal years beginning after December 15, 2022, on a retrospective basis, including interim periods with those fiscal years, except for the requirement to disclose roll-forward information, which is effective prospectively for fiscal years beginning after December 15, 2023. We adopted ASU 2022-04 on January 1, 2023. The adoption of this standard did not have an impact on the Company’s consolidated financial statements or disclosures as the Company currently does not have supplier finance programs. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which addresses and amends areas identified by the FASB as part of its post-implementation review of the accounting standard that introduced the current expected credit losses (“CECL”) model. The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current-period gross write offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. For entities, such as Cryoport, that had not In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” ASU 2021-08 requires contract assets and contract liabilities acquired in a business combination to be recognized and measured in accordance with Topic 606, Revenue from Contracts with Customers, on the acquisition date as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for public business entities. We adopted ASU 2021-08 on January 1, 2023. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements or disclosures. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information for credit loss estimates on certain types of financial instruments, including trade receivables. In addition, new disclosures are required. The ASU, as subsequently amended, is effective for the Company for fiscal years beginning after December 15, 2022, as the Company was a smaller reporting company as of November 15, 2019, the determination date. We adopted ASU 2016-13 on January 1, 2023. Based on the composition of the Company’s accounts receivable, investment portfolio, and other financial assets, including current market conditions and historical credit loss activity, the adoption of this standard did not have a material impact on the Company’s consolidated financial statements or disclosures. Specifically, the Company’s estimate of expected credit losses as of June 30, 2023, using its expected credit loss evaluation process described above, resulted in no adjustments to the provision for credit losses and no cumulative-effect adjustment to accumulated deficit on the adoption date of the standard. Accounting Guidance Issued but Not Adopted at June 30, 2023 In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions,” which amends the guidance in Topic 820, Fair Value Measurement

Revenue, Concentrations and G_2

Revenue, Concentrations and Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue, Concentrations and Geographic Information
Schedule of disaggregation of revenue by major markets	The following table disaggregates our revenues by major markets for the three and six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2023 2022 2023 2022 Biopharma/Pharma ​ $ 46,533 ​ $ 52,591 ​ $ 97,655 ​ $ 95,601 Animal Health ​ 7,873 ​ ​ 9,285 ​ ​ 16,736 ​ ​ 16,079 Reproductive Medicine ​ ​ 2,615 ​ ​ 2,277 ​ ​ 5,447 ​ ​ 4,775 Total revenues ​ $ 57,021 ​ $ 64,153 ​ $ 119,838 ​ $ 116,455
Schedule of geographical revenues, by origin	Our geographical revenues, by origin, for the three and six months ended June 30, 2023 and 2022, were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2023 2022 2023 2022 Americas ​ $ 31,164 ​ $ 34,893 ​ $ 64,781 ​ $ 62,771 Europe, the Middle East, and Africa (EMEA) ​ 15,112 ​ ​ 16,854 ​ ​ 33,271 ​ ​ 33,041 Asia Pacific (APAC) ​ 10,745 ​ ​ 12,406 ​ ​ 21,786 ​ ​ 20,643 Total revenues ​ $ 57,021 ​ $ 64,153 ​ $ 119,838 ​ $ 116,455
Schedule of roll-forward of the allowance for credit losses	​ ​ ​ ​ ​ Balance at January 1, 2023 $ 1,275 Change in expected credit losses ​ (10) Write-offs, net of recoveries ​ ​ (59) Balance at June 30, 2023 ​ $ 1,206

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Net Loss Per Share
Schedule of amounts used in computing net loss per share	The following shows the amounts used in computing net loss per share (in thousands except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Net loss ​ $ (18,355) ​ $ (9,177) ​ $ (23,929) ​ $ (22,581) Paid-in-kind dividend on Series C convertible preferred stock ​ (2,000) ​ ​ (2,000) ​ ​ (4,000) ​ ​ (4,000) Net loss attributable to common shareholders ​ $ (20,355) ​ $ (11,177) ​ $ (27,929) ​ $ (26,581) Weighted average common shares issued and outstanding - basic and diluted ​ ​ 48,709,384 ​ ​ 48,792,559 ​ ​ 48,536,901 ​ ​ 49,467,691 Basic and diluted net loss per share ​ $ (0.42) ​ $ (0.23) ​ $ (0.58) ​ $ (0.54)
Schedule of the number of shares excluded from the computation of diluted loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Stock options 3,012,284 ​ 3,457,046 ​ 3,100,326 ​ 3,845,882 Restricted stock units ​ 1,093,390 ​ 709,481 ​ 1,093,390 ​ 709,481 Series C convertible preferred stock ​ 5,778,389 ​ 5,552,919 ​ 5,778,389 ​ 5,552,919 Conversion of 2026 Senior Notes ​ 3,422,780 ​ 3,422,780 ​ 3,422,780 ​ 3,422,780 Conversion of 2025 Senior Notes 599,954 ​ 599,954 ​ 599,954 ​ 599,954 ​ 13,906,797 ​ 13,742,180 ​ 13,994,839 ​ 14,131,016

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Cash, Cash Equivalents and Short-Term Investments
Schedule of cash, cash equivalents and short-term investments	Cash, cash equivalents and short-term investments consisted of the following as of June 30, 2023 and December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Cash ​ $ 34,168 ​ $ 34,752 Cash equivalents: ​ ​ ​ ​ ​ Money market mutual fund ​ 33,146 ​ ​ 1,843 Total cash and cash equivalents ​ 67,314 ​ ​ 36,595 Short-term investments: ​ ​ ​ ​ ​ U.S. Treasury notes and bills ​ 150,810 ​ ​ 190,718 Mutual funds ​ 99,882 ​ ​ 99,777 Corporate debt securities ​ ​ 186,668 ​ ​ 196,233 Total short-term investments ​ 437,360 ​ ​ 486,728 Cash, cash equivalents and short-term investments ​ $ 504,674 ​ $ 523,323
Schedule of available-for-sale investments	The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ ​ Cost Gains Losses Fair Value U.S. Treasury notes ​ $ 149,221 ​ $ 1,621 ​ $ (32) ​ $ 150,810 Corporate debt securities ​ ​ 185,805 ​ ​ 1,113 ​ ​ (250) ​ ​ 186,668 Total available-for-sale investments ​ $ 335,026 ​ $ 2,734 ​ $ (282) ​ $ 337,478 The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at December 31, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ ​ ​ ​ Cost Gains Losses Fair Value U.S. Treasury notes ​ $ 199,626 $ 5 ​ $ (8,913) ​ $ 190,718 Corporate debt securities ​ ​ 210,764 ​ 1,243 ​ (15,774) ​ ​ 196,233 Total available-for-sale investments ​ $ 410,390 $ 1,248 ​ $ (24,687) ​ $ 386,951
Schedule of investments based on stated contractual maturities	The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Fair Value Due within one year ​ $ 125,428 ​ $ 127,084 Due after one year through five years ​ 209,598 ​ ​ 210,394 Due after five years through ten years ​ ​ — ​ ​ — Total ​ $ 335,026 ​ $ 337,478 The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Fair Value Due within one year ​ $ 129,568 ​ $ 126,776 Due after one year through five years ​ 280,822 ​ ​ 260,175 Due after five years through ten years ​ ​ — ​ ​ — Total ​ $ 410,390 ​ $ 386,951
Schedule of gross unrealized losses and fair value of available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	The following table shows the Company’s gross unrealized losses and fair value of available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury notes $ 2,675 ​ $ (19) ​ $ 148,135 ​ $ (13) ​ $ 150,810 ​ $ (32) Corporate debt securities ​ 19,601 ​ ​ (33) ​ ​ 167,067 ​ ​ (217) ​ ​ 186,668 ​ ​ (250) Total ​ $ 22,276 ​ $ (52) ​ $ 315,202 ​ $ (230) ​ $ 337,478 ​ $ (282)
Schedule of unrealized losses related to equity securities held	Unrealized losses during 2023 and 2022 related to equity securities held at June 30, 2023 and 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 Net losses recognized during the six months on equity securities ​ $ (1,405) ​ $ (8,556) Less: net gains (losses) recognized during the year on equity securities sold during the period ​ 1,510 ​ ​ — Unrealized losses recognized during the six months on equity securities still held at June 30, 2023 and 2022 ​ $ 105 ​ $ (8,556)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements
Schedule of fair value hierarchy	The carrying values of our assets that are required to be measured at fair value on a recurring basis as of June 30, 2023 and 2022 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ Level 1 Level 2 Level 3 Total June 30, 2023 ​ ​ ​ ​ Assets: ​ ​ ​ ​ Money market mutual fund ​ $ 33,146 ​ $ — ​ $ — ​ $ 33,146 Mutual funds ​ 99,882 ​ ​ — ​ ​ — ​ ​ 99,882 U.S. Treasury notes ​ 150,810 ​ ​ — ​ ​ — ​ ​ 150,810 Corporate debt securities ​ ​ 186,668 ​ ​ — ​ ​ — ​ ​ 186,668 ​ ​ $ 470,506 ​ $ — ​ $ — ​ $ 470,506 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Senior Notes ​ $ — ​ $ 407,992 ​ $ — ​ $ 407,992 Contingent consideration ​ ​ — ​ ​ — ​ ​ 4,639 ​ ​ 4,639 ​ ​ $ — ​ $ 407,992 ​ $ 4,639 ​ $ 412,631 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ​ Level 1 Level 2 Level 3 Total December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ Money market mutual fund ​ $ 1,843 ​ $ — ​ $ — ​ $ 1,843 Mutual funds ​ 99,777 ​ — ​ — ​ 99,777 U.S. Treasury notes ​ ​ 190,718 ​ ​ — ​ ​ — ​ ​ 190,718 Corporate debt securities ​ 196,233 ​ — ​ — ​ 196,233 ​ ​ $ 488,571 ​ $ — ​ $ — ​ $ 488,571 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Senior Notes ​ $ — ​ $ 406,708 ​ $ — ​ $ 406,708 Contingent consideration ​ ​ — ​ ​ — ​ ​ 4,677 ​ ​ 4,677 ​ ​ $ — ​ $ 406,708 ​ $ 4,677 ​ $ 411,385
Schedule of estimated fair values and the carrying values	The following table presents the estimated fair values and the carrying values (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 ​ December 31, 2022 ​ Carrying Value Fair Value Carrying Value Fair Value 2026 Senior Notes ​ $ 393,853 ​ $ 307,879 ​ $ 392,621 ​ $ 290,132 2025 Senior Notes ​ $ 14,139 ​ $ 12,869 ​ $ 14,087 ​ $ 12,373
Schedule of losses recognized in earnings and the change in net assets related to the contingent consideration	The losses recognized in earnings and the change in net assets related to the contingent consideration at June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Losses ​ ​ ​ ​ Foreign ​ Fair Value ​ ​ December 31, ​ recognized in ​ ​ ​ ​ Currency ​ June 30, ​ ​ 2022 ​ earnings Payments ​ Adjustment ​ 2023 2021 Acquisitions $ 902 $ 126 ​ $ — $ (15) $ 1,013 2022 Acquisitions ​ 3,775 ​ 77 ​ ​ (271) ​ 45 ​ 3,626 ​ ​ $ 4,677 ​ $ 203 ​ $ (271) ​ $ 30 ​ $ 4,639

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory
Schedule of inventories	Inventories consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2023 ​ 2022 Raw materials ​ $ 17,357 ​ $ 18,287 Work-in-process ​ 1,054 ​ 895 Finished goods ​ 10,410 ​ 8,496 Total ​ $ 28,821 ​ $ 27,678

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets
Schedule of goodwill	The following table represents the changes in the carrying value of goodwill for the six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2023 2022 Balance at beginning of year $ 151,117 ​ $ 146,954 Foreign currency adjustment ​ (1,809) ​ ​ (4,369) Goodwill related to CTSA and F-airGate acquisitions ​ ​ — ​ ​ 2,616 Total $ 149,308 ​ $ 145,201
Schedule of intangible assets	The following table presents our intangible assets as of June 30, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Net ​ Average ​ ​ Gross ​ Accumulated ​ Carrying ​ Amortization ​ Amount Amortization Amount Period (years) Non-compete agreement ​ $ 390 ​ $ 318 ​ $ 72 ​ 1 Technology ​ ​ 47,178 ​ ​ 9,086 ​ ​ 38,092 ​ 10 Customer relationships ​ ​ 131,326 ​ ​ 25,423 ​ ​ 105,903 ​ 12 Trade name/trademark ​ ​ 818 ​ ​ 180 ​ ​ 638 ​ 12 Agent network ​ ​ 10,871 ​ ​ 6,724 ​ ​ 4,147 ​ 2 Order backlog ​ ​ 2,600 ​ ​ 2,600 ​ ​ — ​ — Land use rights ​ ​ 2,255 ​ ​ 269 ​ ​ 1,986 ​ 35 Patents and trademarks ​ ​ 44,166 ​ ​ 12 ​ ​ 44,154 ​ — Total ​ $ 239,604 ​ $ 44,612 ​ $ 194,992 ​ ​ ​ The following table presents our intangible assets as of December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Net ​ Average ​ ​ Gross ​ Accumulated ​ Carrying ​ Amortization ​ Amount Amortization Amount Period (years) Non-compete agreement ​ $ 390 ​ $ 280 ​ $ 110 1 Technology ​ ​ 36,592 ​ ​ 8,056 ​ ​ 28,536 ​ 9 Customer relationships ​ ​ 131,716 ​ ​ 21,254 ​ ​ 110,462 ​ 12 Trade name/trademark ​ ​ 820 ​ ​ 158 ​ ​ 662 ​ 13 Agent network ​ ​ 11,667 ​ ​ 6,199 ​ ​ 5,468 ​ 2 Order backlog ​ ​ 2,600 ​ ​ 2,600 ​ ​ — ​ — Land use rights ​ ​ 2,378 ​ ​ 257 ​ ​ 2,121 ​ 35 Patents and trademarks ​ ​ 45,181 ​ ​ 1,531 ​ ​ 43,650 — Total ​ $ 231,344 ​ $ 40,335 ​ $ 191,009 ​ ​
Schedule of expected future amortization of intangible assets	​ ​ ​ ​ ​ Years Ending December 31, Amount Remainder of 2023 (excluding the six months ended June 30, 2023) ​ $ 7,861 2024 ​ 15,124 2025 ​ 13,179 2026 ​ 12,928 2027 ​ 12,795 Thereafter ​ 83,201 ​ ​ $ 145,088

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
	Jun. 30, 2023
Convertible Senior Notes
Schedule of convertible senior notes payable	Convertible Senior Notes payable consisted of the following at June 30, 2023 and December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Principal amount of 2025 Senior Notes ​ $ 14,344 ​ $ 14,344 Principal amount of 2026 Senior Notes ​ 402,500 ​ 402,500 Less: unamortized debt issuance costs ​ ​ (8,852) ​ ​ (10,136) Net carrying value of Convertible Senior Notes payable ​ $ 407,992 ​ $ 406,708
Schedule of interest expenses incurred in connection with the convertible senior notes	Interest expense incurred in connection with the Convertible Senior Notes consisted of the following for the three and six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Coupon interest ​ $ 862 ​ $ 872 ​ $ 1,725 ​ $ 1,734 Amortization of debt issuance costs ​ ​ 643 ​ ​ 634 ​ ​ 1,283 ​ ​ 1,268 Total interest expense on Convertible Senior Notes ​ $ 1,505 ​ $ 1,506 ​ $ 3,008 ​ $ 3,002

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Payable
Schedule of notes payable	Notes payable consisted of the following at June 30, 2023 and December 31, 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2023 ​ 2022 Principal amount of notes payable ​ $ 408 ​ $ 415 Less: current portion of notes payable ​ (61) ​ ​ (60) Notes payable – long term ​ $ 347 ​ $ 355 ​
Schedule of interest expense incurred in connection with the notes payable	Interest expense incurred in connection with the notes payable consisted of the following for the three and six months ended June 30, 2023 and 2022 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ June 30, ​ June 30, ​ 2023 2022 2023 2022 Interest expense ​ $ 1 ​ $ 2 ​ $ 2 ​ $ 2 Amortization of debt discount ​ — ​ ​ 11 ​ ​ — ​ ​ 21 Total interest expense on notes payable ​ $ 1 ​ $ 13 ​ $ 2 ​ $ 23
Schedule of future note payments	Future note payments as of June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ Years Ending December 31, Amount 2023 (excluding the six months ended June 30, 2023) ​ $ 37 2024 ​ 76 2025 ​ 62 2026 ​ 63 2027 ​ 58 Thereafter ​ 112 Total note maturities ​ $ 408

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases
Schedule of components of lease cost	The components of lease cost were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 Operating lease cost ​ $ 3,453 ​ $ 2,530 Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ ​ 79 ​ ​ 25 Interest on finance lease liabilities ​ ​ 19 ​ ​ 3 ​ ​ ​ 98 ​ ​ 28 Total lease cost ​ ​ 3,551 ​ ​ 2,558
Schedule of other information related to leases	Other information related to leases was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Supplemental Cash Flows Information ​ Six Months Ended June 30, ​ 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ Operating cash flows from operating leases $ 3,323 ​ $ 2,444 Operating cash flows from finance leases $ 89 ​ $ 28 Financing cash flows from finance leases ​ $ 70 ​ $ 18 Right-of-use assets obtained in exchange for lease liabilities (in thousands): ​ ​ ​ ​ ​ ​ Operating leases $ 5,603 ​ $ 2,103 Finance leases ​ $ 538 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Weighted-Average Remaining Lease Term ​ ​ ​ Operating leases 11.8 years 12.4 years Finance leases 4.4 years 3.4 years ​ ​ ​ ​ ​ ​ Weighted-Average Discount Rate ​ ​ ​ ​ Operating leases 9.3 % 9.5 % Finance leases 8.4 % 7.8 % ​
Schedule of future minimum lease payments under non-cancellable leases	Future minimum lease payments under non-cancellable leases that have commenced as of June 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Finance Years Ending December 31 Leases Leases 2023 (excluding the three months ended June 30, 2023) ​ $ 3,346 ​ $ 140 2024 ​ 6,508 ​ ​ 222 2025 ​ 5,481 ​ ​ 218 2026 ​ 4,750 ​ ​ 191 2027 ​ 4,189 ​ ​ 107 Thereafter ​ ​ 29,541 ​ ​ 96 Total future minimum lease payments ​ 53,815 ​ ​ 974 Less imputed interest ​ (22,061) ​ ​ (159) Total ​ $ 31,754 ​ $ 815 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Finance Reported as of June 30, 2023 Leases Leases Current lease liabilities ​ $ 4,234 ​ $ 191 Noncurrent lease liabilities ​ 27,520 ​ ​ 624 Total ​ $ 31,754 ​ $ 815

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity
Schedule of common stock were issuable upon exercise of common stock were issuable upon vesting, conversion or exercise of stock options, restricted stock units, the Convertible Senior Notes and the Series C Preferred Stock	As of June 30, 2023, approximately 18.3 million shares of common stock were issuable upon vesting, conversion or exercise of stock options, restricted stock units, the Convertible Senior Notes and the Series C Preferred Stock, as follows: ​ ​ ​ ​ Exercise of stock options 7,359,724 Vesting of restricted stock units 1,093,390 Conversion of Series C Preferred Stock 5,778,389 Conversion of convertible 2026 Senior Notes ​ 3,422,780 Conversion of convertible 2025 Senior Notes 599,954 Total shares of common stock reserved for future issuances 18,254,237

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Stock-Based Compensation
Schedule of fair value of each option grant	​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2023 2022 Expected life (years) ​ 3.8 - 5.2 ​ 3.8 - 5.2 Risk-free interest rate 3.5% - 4.1% ​ 2.1% - 3.6% Volatility ​ 69.9% - 76.2 ​ 67.5% - 76.8% Dividend yield 0% ​ 0%
Schedule of stock-based compensation expense related to all of our share-based payment awards	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2023 2022 2023 2022 Cost of revenues ​ $ 575 ​ $ 711 ​ $ 1,050 ​ $ 1,178 Selling, general and administrative ​ 4,766 ​ ​ 4,056 ​ ​ 9,070 ​ ​ 7,347 Engineering and development ​ 459 ​ ​ 491 ​ ​ 864 ​ ​ 858 ​ ​ $ 5,800 ​ $ 5,258 ​ $ 10,984 ​ $ 9,383
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ ​ Weighted- ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ Number of ​ Exercise ​ Contractual ​ Intrinsic ​ Shares Price/Share Term (Years) Value (1) Outstanding — December 31, 2022 7,340,521 ​ $ 15.10 — ​ — Granted (weighted-average fair value of $12.65 per share) ​ 376,197 ​ ​ 21.43 ​ — ​ ​ — Exercised (335,614) ​ ​ 3.87 — ​ — Forfeited (21,380) ​ ​ 35.02 — ​ — Outstanding — June 30, 2023 7,359,724 ​ $ 15.87 ​ 4.8 ​ $ 43,495 Vested (exercisable) — June 30, 2023 6,097,926 ​ $ 12.94 ​ 4.4 ​ $ 43,378 Expected to vest after June 30, 2023 (unexercisable) 1,261,798 ​ $ 30.04 ​ 6.2 ​ $ 117 (1) Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on June 30, 2023, which was $17.25 per share.
Schedule of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Restricted ​ Fair Value per ​ Stock Units Share Outstanding – December 31, 2022 ​ 727,984 ​ $ 38.32 Granted 603,261 ​ ​ 20.31 Share issuance ​ (209,124) ​ ​ 37.6 Forfeited (28,731) ​ ​ 33.43 Outstanding – June 30, 2023 1,093,390 ​ $ 28.65

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Summary of Significant Accounting Policies
Foreign currency translation loss	$ 3	$ 8.6

Revenue, Concentrations and G_3

Revenue, Concentrations and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue, Concentrations and Geographic Information
Accounts receivable, net of provision for credit losses			$ 1,200		$ 1,300
Total revenues	$ 57,021	$ 64,153	119,838	$ 116,455
Contract liabilities	900		900		$ 400
Contract with customer liability on revenue recognized	500	400
Foreign Customers
Revenue, Concentrations and Geographic Information
Total revenues	$ 25,900	$ 29,300	$ 55,100	$ 53,700
Sales Revenue, Net | Foreign Customers | Customer Concentration Risk
Revenue, Concentrations and Geographic Information
Concentration risk, percentage	45.30%	45.60%	45.90%	46.10%

Revenue, Concentrations and G_4

Revenue, Concentrations and Geographic Information - Disaggregates our revenues by major markets (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Summary of Significant Accounting Policies
Number of reportable segments | segment			1
Number of reporting units | segment			1
Total revenues	$ 57,021	$ 64,153	$ 119,838	$ 116,455
Biopharmaceutical
Summary of Significant Accounting Policies
Total revenues	46,533	52,591	97,655	95,601
Animal Health
Summary of Significant Accounting Policies
Total revenues	7,873	9,285	16,736	16,079
Reproductive Medicine
Summary of Significant Accounting Policies
Total revenues	$ 2,615	$ 2,277	$ 5,447	$ 4,775

Revenue, Concentrations and G_5

Revenue, Concentrations and Geographic Information - Disaggregation our geographical revenues by origin (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Summary of Significant Accounting Policies
Total revenues	$ 57,021	$ 64,153	$ 119,838	$ 116,455
Americas
Summary of Significant Accounting Policies
Total revenues	31,164	34,893	64,781	62,771
Europe, the Middle East and Africa (EMEA)
Summary of Significant Accounting Policies
Total revenues	15,112	16,854	33,271	33,041
Asia Pacific (APAC)
Summary of Significant Accounting Policies
Total revenues	$ 10,745	$ 12,406	$ 21,786	$ 20,643

Revenue, Concentrations and G_6

Revenue, Concentrations and Geographic Information - Credit Losses (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Revenue, Concentrations and Geographic Information
Accounts receivable, net	$ 43,100
Accounts receivable, allowance for credit loss	1,206
Balance at January 1, 2023	1,275
Change in expected credit losses	(10)
Write-offs, net of recoveries	(59)
Balance at June 30, 2023	$ 1,206

Net Loss Per Share - Amounts us

Net Loss Per Share - Amounts used in computing net loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Loss Per Share
Net loss	$ (18,355)	$ (9,177)	$ (23,929)	$ (22,581)
Paid-in-kind dividend on Series C convertible preferred stock	(2,000)	(2,000)	(4,000)	(4,000)
Net loss attributable to common stockholders	$ (20,355)	$ (11,177)	$ (27,929)	$ (26,581)
Weighted average common shares issued and outstanding - basic	48,709,384	48,792,559	48,536,901	49,467,691
Weighted average common shares issued and outstanding - diluted	48,709,384	48,792,559	48,536,901	49,467,691
Net loss per share attributable to common stockholders - basic	$ (0.42)	$ (0.23)	$ (0.58)	$ (0.54)
Net loss per share attributable to common stockholders - diluted	$ (0.42)	$ (0.23)	$ (0.58)	$ (0.54)

Net Loss Per Share - The number

Net Loss Per Share - The number of shares excluded from the computation of diluted loss per share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
The number of shares excluded from the computation of diluted loss per share
Antidilutive securities excluded from computation of earnings per share, amount	13,906,797	13,742,180	13,994,839	14,131,016
Series C convertible preferred stock
The number of shares excluded from the computation of diluted loss per share
Antidilutive securities excluded from computation of earnings per share, amount	5,778,389	5,552,919	5,778,389	5,552,919
Conversion of convertible 2026 Senior Notes
The number of shares excluded from the computation of diluted loss per share
Interest rate (as a percent)	0.75%		0.75%
Conversion of convertible 2025 Senior Notes
The number of shares excluded from the computation of diluted loss per share
Interest rate (as a percent)	3%		3%
Employee Stock Option
The number of shares excluded from the computation of diluted loss per share
Antidilutive securities excluded from computation of earnings per share, amount	3,012,284	3,457,046	3,100,326	3,845,882
Restricted stock units
The number of shares excluded from the computation of diluted loss per share
Antidilutive securities excluded from computation of earnings per share, amount	1,093,390	709,481	1,093,390	709,481
Conversion of 2026 Senior Notes
The number of shares excluded from the computation of diluted loss per share
Antidilutive securities excluded from computation of earnings per share, amount	3,422,780	3,422,780	3,422,780	3,422,780
Conversion of 2025 Senior Notes
The number of shares excluded from the computation of diluted loss per share
Antidilutive securities excluded from computation of earnings per share, amount	599,954	599,954	599,954	599,954

Acquisitions (Details)

Acquisitions (Details) $ in Thousands, € in Millions	1 Months Ended				6 Months Ended
	Jul. 31, 2022 USD ($)	Jul. 31, 2022 EUR (€)	Apr. 30, 2022 USD ($) shares	Apr. 30, 2022 EUR (€) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jul. 31, 2022 EUR (€)	Apr. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Acquisitions
Cash consideration						$ 2,107
Purchase consideration allocated to goodwill					$ 149,308	$ 145,201	$ 151,117			$ 146,954
Cell & Co
Acquisitions
Total purchase consideration			$ 6,200	€ 5.7
Upfront cash consideration			$ 3,500	€ 3.2
Stock issued | shares			15,152	15,152
Business combination equity interest shares issuable | shares			400,000	400,000
Earn-out provision at fair value			$ 2,200						€ 2
Goodwill expected to be deductible for income tax purposes			3,400
Purchase consideration allocated to goodwill			$ 2,700
Polar Express
Acquisitions
Earn-out provision at fair value	$ 1,400							€ 1.4
Purchase consideration allocated to goodwill	1,700
Purchase consideration	2,800							2.8
Cash consideration	1,400	€ 1.4
Purchase consideration allocated to identifiable intangible assets	1,000
Cell Matters
Acquisitions
Total purchase consideration	4,000	€ 3.9
Measurement period adjustment					$ 100
Purchase consideration allocated to goodwill	$ 4,700							€ 4.7

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash, Cash Equivalents and Short-Term Investments
Cash	$ 34,168	$ 34,752
Cash equivalents:
Money market mutual fund	33,146	1,843
Total cash and cash equivalents	67,314	36,595
Short-term investments:
Total short-term investments	437,360	486,728
Cash, cash equivalents and short-term investments	504,674	523,323
U.S. Treasury notes and bills
Short-term investments:
Short-term Investments	150,810	190,718
Mutual funds
Short-term investments:
Short-term Investments	99,882	99,777
Corporate debt securities
Short-term investments:
Short-term Investments	$ 186,668	$ 196,233

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Available-for-sale Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash, Cash Equivalents and Short-Term Investments
Amortized Cost	$ 335,026	$ 410,390
Unrealized Gains	2,734	1,248
Unrealized Losses	(282)	(24,687)
Fair Value	337,478	386,951
U.S. Treasury notes
Cash, Cash Equivalents and Short-Term Investments
Amortized Cost	149,221	199,626
Unrealized Gains	1,621	5
Unrealized Losses	(32)	(8,913)
Fair Value	150,810	190,718
Corporate debt securities
Cash, Cash Equivalents and Short-Term Investments
Amortized Cost	185,805	210,764
Unrealized Gains	1,113	1,243
Unrealized Losses	(250)	(15,774)
Fair Value	$ 186,668	$ 196,233

Cash, Cash Equivalents and Sh_5

Cash, Cash Equivalents and Short-term Investments - Contractual maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash, Cash Equivalents and Short-Term Investments
Due within one year, Amortized Cost	$ 125,428	$ 129,568
Due after one year through five years, Amortized Cost	209,598	280,822
Total, Amortized Cost	335,026	410,390
Due within one year, Fair Value	127,084	126,776
Due after one year through five years, Fair Value	210,394	260,175
Total, Fair Value	$ 337,478	$ 386,951

Cash, Cash Equivalents and Sh_6

Cash, Cash Equivalents and Short-Term Investments - Company's gross unrealized losses and fair value (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cash, Cash Equivalents and Short-Term Investments
Less than 12 Months, Fair Value	$ 22,276		$ 22,276
12 Months or more, Fair Value	315,202		315,202
Total, Fair Value	337,478		337,478
Less than 12 Months, Unrealized Losses	(52)		(52)
12 Months or more, Unrealized Losses	(230)		(230)
Total, Unrealized Losses	(282)		(282)
Realized losses on available-for-sale investments	20	$ (30)	(70)	$ (80)
U.S. Treasury notes
Cash, Cash Equivalents and Short-Term Investments
Less than 12 Months, Fair Value	2,675		2,675
12 Months or more, Fair Value	148,135		148,135
Total, Fair Value	150,810		150,810
Less than 12 Months, Unrealized Losses	(19)		(19)
12 Months or more, Unrealized Losses	(13)		(13)
Total, Unrealized Losses	(32)		(32)
Corporate debt securities
Cash, Cash Equivalents and Short-Term Investments
Less than 12 Months, Fair Value	19,601		19,601
12 Months or more, Fair Value	167,067		167,067
Total, Fair Value	186,668		186,668
Less than 12 Months, Unrealized Losses	(33)		(33)
12 Months or more, Unrealized Losses	(217)		(217)
Total, Unrealized Losses	$ (250)		$ (250)

Cash, Cash Equivalents and Sh_7

Cash, Cash Equivalents and Short-Term Investments - Equity investments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash, Cash Equivalents and Short-Term Investments
Investments in equity securities	$ 99,900
Net losses recognized during the six months on equity securities	(1,405)	$ (8,556)
Less: net gains (losses) recognized during the year on equity securities sold during the period	1,510
Unrealized losses recognized during the six months on equity securities still held at June 30, 2023 and 2022	$ 105	$ (8,556)

Fair Value Measurements - Fair

Fair Value Measurements - Fair value hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Liabilities	$ 4,600	$ 4,700
Recurring
Fair Value Measurements
Assets	470,506	488,571
Liabilities	412,631	411,385
Recurring | Mutual funds
Fair Value Measurements
Assets	99,882	99,777
Recurring | U.S. Treasury notes
Fair Value Measurements
Assets	150,810	190,718
Recurring | Corporate debt securities
Fair Value Measurements
Assets	186,668	196,233
Recurring | Convertible Senior Notes
Fair Value Measurements
Liabilities	407,992	406,708
Recurring | Contingent consideration
Fair Value Measurements
Liabilities	4,639	4,677
Recurring | Money market mutual fund
Fair Value Measurements
Assets	33,146	1,843
Recurring | Level 1
Fair Value Measurements
Assets	470,506	488,571
Recurring | Level 1 | Mutual funds
Fair Value Measurements
Assets	99,882	99,777
Recurring | Level 1 | U.S. Treasury notes
Fair Value Measurements
Assets	150,810	190,718
Recurring | Level 1 | Corporate debt securities
Fair Value Measurements
Assets	186,668	196,233
Recurring | Level 1 | Money market mutual fund
Fair Value Measurements
Assets	33,146	1,843
Recurring | Level 2
Fair Value Measurements
Liabilities	407,992	406,708
Recurring | Level 2 | Convertible Senior Notes
Fair Value Measurements
Liabilities	407,992	406,708
Recurring | Level 3
Fair Value Measurements
Liabilities	4,639	4,677
Recurring | Level 3 | Contingent consideration
Fair Value Measurements
Liabilities	$ 4,639	$ 4,677

Fair Value Measurements - Estim

Fair Value Measurements - Estimated fair values and the carrying values (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Carrying Value	$ 407,992	$ 406,708
2026 Convertible Senior Notes
Fair Value Measurements
Carrying Value	393,853	392,621
Fair Value	307,879	290,132
2025 Convertible Senior Notes
Fair Value Measurements
Carrying Value	14,139	14,087
Fair Value	$ 12,869	$ 12,373

Fair Value Measurements - losse

Fair Value Measurements - losses recognized in earnings and the change in net asset - (Details) - Contingent consideration - Level 3 $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value Measurements
Fair Value December 31, 2022	$ 4,677
Losses recognized in earnings	203
Payments	(271)
Foreign Currency Adjustment	30
Fair Value March 31, 2023	4,639
2021 Acquisitions
Fair Value Measurements
Fair Value December 31, 2022	902
Losses recognized in earnings	126
Foreign Currency Adjustment	(15)
Fair Value March 31, 2023	1,013
2022 Acquisitions
Fair Value Measurements
Fair Value December 31, 2022	3,775
Losses recognized in earnings	$ 77
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating Expenses
Payments	$ (271)
Foreign Currency Adjustment	45
Fair Value March 31, 2023	$ 3,626

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Fair value	$ 4.6	$ 4.7
Contingent consideration
Fair Value Measurements
Period of contingent consideration payable	4 years
Maximum contingent consideration payable in cash	$ 6.1

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory
Raw materials	$ 17,357	$ 18,287
Work-in-process	1,054	895
Finished goods	10,410	8,496
Total	$ 28,821	$ 27,678

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill
Balance at beginning of year	$ 151,117	$ 146,954
Foreign currency adjustment	(1,809)	(4,369)
Balance at end of year	$ 149,308	145,201
CTSA and F-airGate
Goodwill
Goodwill related to CTSA and F-airGate acquisitions		$ 2,616

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets
Gross Amount	$ 239,604	$ 231,344
Accumulated Amortization	44,612	40,335
Net Carrying Amount	194,992	191,009
Non-compete agreement
Goodwill and Intangible Assets
Gross Amount	390	390
Accumulated Amortization	318	280
Net Carrying Amount	$ 72	$ 110
Weighted Average Amortization Period (years)	1 year	1 year
Technology
Goodwill and Intangible Assets
Gross Amount	$ 47,178	$ 36,592
Accumulated Amortization	9,086	8,056
Net Carrying Amount	$ 38,092	$ 28,536
Weighted Average Amortization Period (years)	10 years	9 years
Customer relationships
Goodwill and Intangible Assets
Gross Amount	$ 131,326	$ 131,716
Accumulated Amortization	25,423	21,254
Net Carrying Amount	$ 105,903	$ 110,462
Weighted Average Amortization Period (years)	12 years	12 years
Trade name/trademark
Goodwill and Intangible Assets
Gross Amount	$ 818	$ 820
Accumulated Amortization	180	158
Net Carrying Amount	$ 638	$ 662
Weighted Average Amortization Period (years)	12 years	13 years
Agent network
Goodwill and Intangible Assets
Gross Amount	$ 10,871	$ 11,667
Accumulated Amortization	6,724	6,199
Net Carrying Amount	$ 4,147	$ 5,468
Weighted Average Amortization Period (years)	2 years	2 years
Order backlog
Goodwill and Intangible Assets
Gross Amount	$ 2,600	$ 2,600
Accumulated Amortization	2,600	2,600
Land use rights
Goodwill and Intangible Assets
Gross Amount	2,255	2,378
Accumulated Amortization	269	257
Net Carrying Amount	$ 1,986	$ 2,121
Weighted Average Amortization Period (years)	35 years	35 years
Patents and trademarks
Goodwill and Intangible Assets
Gross Amount	$ 44,166	$ 45,181
Accumulated Amortization	12	1,531
Net Carrying Amount	$ 44,154	$ 43,650

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Expected Future Amortization (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Expected future amortization of intangible assets
Remainder of 2023 (excluding the six months ended June 31, 2023)	$ 7,861
2024	15,124
2025	13,179
2026	12,928
2027	12,795
Thereafter	83,201
Future amortization of intangible assets	$ 145,088

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets
Amortization expense for intangible assets	$ 3.9	$ 3.7	$ 7.7	$ 7.5

Convertible Senior Notes - Comp

Convertible Senior Notes - Components of Convertible notes payable (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Convertible Senior Notes
Less: unamortized debt issuance costs	$ (8,852)	$ (10,136)
Net carrying value of Convertible Senior Notes payable	407,992	406,708
2025 Convertible Senior Notes
Convertible Senior Notes
Principal amount of Senior Notes	14,344	14,344
2026 Convertible Senior Notes
Convertible Senior Notes
Principal amount of Senior Notes	$ 402,500	$ 402,500

Convertible Senior Notes - Inte

Convertible Senior Notes - Interest expenses incurred on Convertible notes payable (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Convertible Senior Notes
Coupon interest	$ 862	$ 872	$ 1,725	$ 1,734
Amortization of debt issuance costs	643	634	1,283	1,268
Total interest expense on Convertible Senior Notes	$ 1,505	$ 1,506	$ 3,008	$ 3,002

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
2026 Convertible Senior Notes
Convertible Senior Notes
Principal amount of notes payable	$ 402,500	$ 402,500
2025 Convertible Senior Notes
Convertible Senior Notes
Principal amount of notes payable	$ 14,344	$ 14,344

Notes Payable (Details)

Notes Payable (Details) $ in Thousands, € in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Notes Payable
Less: current portion of notes payable	$ (61)		$ (60)
Notes payable - long term	347		355
Notes Payable
Notes Payable
Principal amount of notes payable	408
Less: current portion of notes payable	(61)		(60)
Notes payable - long term	347		355
Cell & Co
Notes Payable
Notes payable - long term	400	€ 0.4
Cell & Co | Notes Payable
Notes Payable
Principal amount of notes payable	$ 408		$ 415

Notes Payable - Interest expens

Notes Payable - Interest expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Notes Payable
Interest expense	$ 862	$ 872	$ 1,725	$ 1,734
Total interest expense on Convertible Senior Notes	1,505	1,506	3,008	3,002
Notes Payable
Notes Payable
Interest expense	1	2	2	2
Amortization of debt discount		11		21
Total interest expense on Convertible Senior Notes	$ 1	$ 13	$ 2	$ 23

Notes Payable - Future note pay

Notes Payable - Future note payments (Details) - Notes Payable $ in Thousands	Jun. 30, 2023 USD ($)
Notes Payable
2023 (excluding the six months ended June 30, 2023)	$ 37
2024	76
2025	62
2026	63
2027	58
Thereafter	112
Total note maturities	$ 408

Note Payable - Additional Infor

Note Payable - Additional Information (Details) $ in Thousands, € in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Notes Payable
Note payable	$ 347		$ 355
Cell & Co
Notes Payable
Note payable	$ 400	€ 0.4
Cell & Co | Notes payable, July 2027
Notes Payable
Interest rate (as a percent)	0.60%	0.60%
Cell & Co | Notes payable, September 2030
Notes Payable
Interest rate (as a percent)	1.06%	1.06%

Leases - Components Of Lease Co

Leases - Components Of Lease Cost (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases
Operating lease cost	$ 3,453	$ 2,530
Finance lease cost:
Amortization of right-of-use assets	79	25
Interest on finance lease liabilities	19	3
Total finance lease cost	98	28
Total lease cost	$ 3,551	$ 2,558

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 3,323	$ 2,444
Operating cash flows from finance leases	89	28
Financing cash flows from finance leases	70	18
Right-of-use assets obtained in exchange for lease liabilities
Operating leases	5,603	$ 2,103
Finance leases	$ 538
Weighted-Average Remaining Lease Term
Operating leases	11 years 9 months 18 days		12 years 4 months 24 days
Finance leases	4 years 4 months 24 days		3 years 4 months 24 days
Weighted-Average Discount Rate
Operating leases	9.30%		9.50%
Finance leases	8.40%		7.80%

Leases - Future minimum lease p

Leases - Future minimum lease payments under non-cancellable leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
2023 (excluding the three months ended June 30, 2023)	$ 3,346
2024	6,508
2025	5,481
2026	4,750
2027	4,189
Thereafter	29,541
Total future minimum lease payments	53,815
Less imputed interest	(22,061)
Current lease liabilities	4,234
Noncurrent lease liabilities	27,520
Total	31,754
Finance Leases
2023 (excluding the three months ended June 30, 2023)	140
2024	222
2025	218
2026	191
2027	107
Thereafter	96
Total future minimum lease payments	974
Less imputed interest	(159)
Current lease liabilities	191	$ 128
Noncurrent lease liabilities	624	$ 216
Total	$ 815

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Oct. 31, 2022	Jun. 30, 2023
Leases
Lessee option to extend		5 years
Lease agreement commencing in 2024, for an administrative, global supply chain center and research and development center in Santa Ana, California
Leases
Aggregate rental amount	$ 27.7
Term of lease (in years)	10 years
Minimum
Leases
Operating and finance leases for corporate offices and certain equipment		1 year
Maximum
Leases
Operating and finance leases for corporate offices and certain equipment		9 years

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 25, 2022	Jun. 30, 2023
Commitments and Contingencies
Estimated revenue impact of new prague fire	$ 9,400
Insurance proceeds received for new prague fire		$ 15,100
Proceeds from sale of insurance investments		2,200
Gain on insurance settlement		$ 2,642

Stockholders' Equity - Authoriz

Stockholders' Equity - Authorized Stock (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Stockholders' Equity
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class A Convertible Preferred Stock
Stockholders' Equity
Preferred stock, shares authorized	800,000	800,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class B Convertible Preferred Stock
Stockholders' Equity
Preferred stock, shares authorized	585,000	585,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Series C convertible preferred stock
Stockholders' Equity
Preferred stock, shares authorized	250,000	250,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, dividend rate (as a percent)	4%	4%

Stockholders' Equity - Repurcha

Stockholders' Equity - Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Mar. 31, 2022
Stockholders' Equity
Authorized amount of share repurchases			$ 100
Aggregate purchase price (in shares)	0	1,604,994
Average price per share		$ 23.63
Aggregate purchase price		$ 37.9
Repurchase of common stock (in shares)	0	1,604,994

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Reserved for Future Issuance (Details)	6 Months Ended
	Jun. 30, 2023 shares
Stockholders' Equity
Common stock reserved for future issuance	18,254,237
Conversion of convertible 2026 Senior Notes
Stockholders' Equity
Common stock issued upon conversion of senior notes	3,422,780
Conversion of convertible 2025 Senior Notes
Stockholders' Equity
Common stock issued upon conversion of senior notes	599,954
Exercise of stock options
Stockholders' Equity
Common stock reserved for future issuance	7,359,724
Vesting of restricted stock units
Stockholders' Equity
Common stock reserved for future issuance	1,093,390
Conversion of Series C Preferred Stock
Stockholders' Equity
Common stock reserved for future issuance	5,778,389
Warrants
Stockholders' Equity
Common stock issued upon conversion of senior notes	18,300,000

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair value of each option grant was estimated on the date of grant using Black-Scholes (Details)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Stock-Based Compensation
Risk-free interest rate, minimum	3.50%	2.10%
Risk-free interest rate, maximum	4.10%	3.60%
Volatility, minimum	69.90%	67.50%
Volatility, maximum	76.20%	76.80%
Dividend yield	0%	0%
Minimum
Stock-Based Compensation
Expected life (years)	3 years 9 months 18 days	3 years 9 months 18 days
Maximum
Stock-Based Compensation
Expected life (years)	5 years 2 months 12 days	5 years 2 months 12 days

Stock-Based Compensation - Tota

Stock-Based Compensation - Total stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock-Based Compensation
Stock-based compensation expense	$ 5,800	$ 5,258	$ 10,984	$ 9,383
Cost of revenues
Stock-Based Compensation
Stock-based compensation expense	575	711	1,050	1,178
Selling, general and administrative
Stock-Based Compensation
Stock-based compensation expense	4,766	4,056	9,070	7,347
Engineering and development
Stock-Based Compensation
Stock-based compensation expense	$ 459	$ 491	$ 864	$ 858

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023
Number of Shares
Weighted-average fair value per share	$ 12.65
Employee Stock Option
Number of Shares
Outstanding - Beginning Balance	7,340,521
Granted (weighted-average fair value of $12.65 per share)	376,197
Exercised	(335,614)
Forfeited	(21,380)
Outstanding - Ending Balance	7,359,724
Vested (exercisable) - June 30, 2023	6,097,926
Expected to vest after June 30, 2023 (unexercisable)	1,261,798
Weighted- Average Exercise Price/Share
Outstanding - Beginning Balance	$ 15.10
Granted (weighted-average fair value of $12.65 per share)	21.43
Exercised	3.87
Forfeited	35.02
Outstanding - Ending Balance	15.87
Vested (exercisable) - June 30, 2023	12.94
Expected to vest after June 30, 2023 (unexercisable)	$ 30.04
Weighted- Average Remaining Contractual Term (Years)
Outstanding balance at end	4 years 9 months 18 days
Vested (exercisable)	4 years 4 months 24 days
Expected to vest (unexercisable)	6 years 2 months 12 days
Aggregated Intrinsic Value
Outstanding balance at end	$ 43,495
Vested (exercisable)	43,378
Expected to vest (unexercisable)	$ 117

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted stock unit (Details) - Restricted stock units	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Number of Restricted Stock Units
Outstanding - Beginning Balance | shares	727,984
Granted | shares	603,261
Share issuance | shares	(209,124)
Forfeited | shares	(28,731)
Outstanding - Ending Balance | shares	1,093,390
Weighted Average Fair Value per Share
Outstanding - Beginning Balance | $ / shares	$ 38.32
Granted | $ / shares	20.31
Share issuance | $ / shares	37.6
Forfeited | $ / shares	33.43
Outstanding - Ending Balance | $ / shares	$ 28.65

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock-Based Compensation
Stock-based compensation expense	$ 5,800	$ 5,258	$ 10,984	$ 9,383
Exercise of stock options
Stock-Based Compensation
Intrinsic value per share			$ 17.25
Total intrinsic value of options	5,900	3,100	$ 5,900	3,100
Unrecognized compensation cost related to unvested stock options	21,100		$ 21,100
Weighted average recognition period			2 years 1 month 6 days
Restricted stock units
Stock-Based Compensation
Weighted average recognition period			2 years 10 months 24 days
Stock-based compensation expense	2,500	$ 2,100	$ 4,600	$ 3,500
Unrecognized compensation expense	$ 28,200		$ 28,200
Omnibus Equity Incentive Plan | Exercise of stock options
Stock-Based Compensation
Shares available for future awards	813,811		813,811

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (18,355)	$ (9,177)	$ (23,929)	$ (22,581)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false