Pulmonx (LUNG) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-39562
Entity Registrant Name	PULMONX CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0424412
Entity Address, Address Line One	700 Chesapeake Drive
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94063
Country Region	1
City Area Code	650
Local Phone Number	364-0400
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	LUNG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		36,838,698
Entity Central Index Key	0001127537
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 188,075	$ 231,561
Restricted cash	231	231
Short-term marketable securities	11,774	0
Accounts receivable, net	6,919	4,228
Inventory	14,985	10,741
Prepaid expenses and other current assets	5,660	3,228
Total current assets	227,644	249,989
Long-term marketable securities	2,798	0
Property and equipment, net	4,703	1,474
Goodwill	2,333	2,333
Intangible assets, net	308	400
Right of use assets	8,474	8,976
Other long-term assets	558	536
Total assets	246,818	263,708
Current liabilities
Accounts payable	4,434	1,472
Accrued liabilities	12,374	8,651
Income taxes payable	0	94
Deferred revenue	157	71
Term loan, current	3,306	0
Current lease liabilities	1,946	2,238
Total current liabilities	22,217	12,526
Deferred tax liability	70	62
Long-term lease liabilities	7,440	7,618
Credit arrangement	537	564
Term loan	13,547	16,804
Other long-term liabilities	179	0
Total liabilities	43,990	37,574
Commitments and contingencies (Note 8)
Stockholders’ equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2021 and December 31, 2020	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized as of September 30, 2021 and December 31, 2020; 36,820,407 shares issued and outstanding as of September 30, 2021 and 35,693,753 shares issued and outstanding as of December 31, 2020	37	36
Additional paid-in capital	479,636	467,147
Accumulated other comprehensive income	1,544	1,685
Accumulated deficit	(278,389)	(242,734)
Total stockholders’ equity	202,828	226,134
Total liabilities, preferred stock and stockholders’ equity	$ 246,818	$ 263,708

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Stockholders’ equity
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	36,820,407	35,693,753
Common stock, outstanding (in shares)	36,820,407	35,693,753

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 13,261	$ 10,612	$ 34,708	$ 22,903
Cost of goods sold	3,522	3,150	9,329	8,779
Gross profit	9,739	7,462	25,379	14,124
Operating expenses
Research and development	2,815	1,997	9,355	4,988
Selling, general and administrative	16,686	10,813	50,962	32,114
Total operating expenses	19,501	12,810	60,317	37,102
Loss from operations	(9,762)	(5,348)	(34,938)	(22,978)
Interest income	99	9	306	98
Interest expense	(207)	(1,103)	(630)	(2,914)
Other income (expense), net	(267)	2,631	(202)	3,052
Net loss before tax	(10,137)	(3,811)	(35,464)	(22,742)
Income tax expense	44	49	191	192
Net loss	(10,181)	(3,860)	(35,655)	(22,934)
Other comprehensive income (loss)
Currency translation adjustment	65	33	(141)	281
Change in unrealized losses on marketable securities	0	0	0	(6)
Total other comprehensive income (loss)	65	33	(141)	275
Comprehensive loss	$ (10,116)	$ (3,827)	$ (35,796)	$ (22,659)
Net loss per share attributable common stockholders, basic (in dollars per share)	$ (0.28)	$ (1.37)	$ (0.99)	$ (10.33)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.28)	$ (1.37)	$ (0.99)	$ (10.33)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	36,449,399	2,814,798	35,958,217	2,220,734
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	36,449,399	2,814,798	35,958,217	2,220,734

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2019	17,583,150
Beginning balance at Dec. 31, 2019	$ 205,339
Convertible Preferred Stock
Issuance of convertible preferred stock (in shares)	213,876
Issuance of convertible preferred stock	$ 2,260
Ending balance (in shares) at Mar. 31, 2020	17,797,026
Ending balance at Mar. 31, 2020	$ 207,599
Beginning balance (in shares) at Dec. 31, 2019		2,100,203
Beginning balance at Dec. 31, 2019	(187,378)	$ 2	$ 21,750	$ 1,373	$ (210,503)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		7,164
Issuance of common stock upon exercise of stock options	11		11
Change in shares subject to repurchase	2		2
Stock-based compensation expense	209		209
Currency translation adjustment	282			282
Change in unrealized gains (losses) on marketable securities	(5)			(5)
Net loss	(7,163)				(7,163)
Ending balance (in shares) at Mar. 31, 2020		2,107,367
Ending balance at Mar. 31, 2020	$ (194,042)	$ 2	21,972	1,650	(217,666)
Beginning balance (in shares) at Dec. 31, 2019	17,583,150
Beginning balance at Dec. 31, 2019	$ 205,339
Ending balance (in shares) at Sep. 30, 2020	17,797,026
Ending balance at Sep. 30, 2020	$ 207,599
Beginning balance (in shares) at Dec. 31, 2019		2,100,203
Beginning balance at Dec. 31, 2019	(187,378)	$ 2	21,750	1,373	(210,503)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Currency translation adjustment	281
Change in unrealized gains (losses) on marketable securities	(6)
Net loss	(22,934)
Ending balance (in shares) at Sep. 30, 2020		3,801,824
Ending balance at Sep. 30, 2020	$ (206,889)	$ 4	24,896	1,648	(233,437)
Beginning balance (in shares) at Mar. 31, 2020	17,797,026
Beginning balance at Mar. 31, 2020	$ 207,599
Ending balance (in shares) at Jun. 30, 2020	17,797,026
Ending balance at Jun. 30, 2020	$ 207,599
Beginning balance (in shares) at Mar. 31, 2020		2,107,367
Beginning balance at Mar. 31, 2020	(194,042)	$ 2	21,972	1,650	(217,666)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		925
Issuance of common stock upon exercise of stock options	1		1
Change in shares subject to repurchase	63		63
Stock-based compensation expense	159		159
Currency translation adjustment	(34)			(34)
Change in unrealized gains (losses) on marketable securities	(1)			(1)
Net loss	(11,911)				(11,911)
Ending balance (in shares) at Jun. 30, 2020		2,108,292
Ending balance at Jun. 30, 2020	$ (205,765)	$ 2	22,195	1,615	(229,577)
Ending balance (in shares) at Sep. 30, 2020	17,797,026
Ending balance at Sep. 30, 2020	$ 207,599
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		1,703,532
Issuance of common stock upon exercise of stock options	2,645	$ 2	2,643
Repurchase of early exercised common stock options (in shares)		10,000
Change in shares subject to repurchase	(460)		(460)
Stock-based compensation expense	518		518
Currency translation adjustment	33			33
Change in unrealized gains (losses) on marketable securities	0
Net loss	(3,860)				(3,860)
Ending balance (in shares) at Sep. 30, 2020		3,801,824
Ending balance at Sep. 30, 2020	$ (206,889)	$ 4	24,896	1,648	(233,437)
Beginning balance (in shares) at Dec. 31, 2020	35,693,753	35,693,753
Beginning balance at Dec. 31, 2020	$ 226,134	$ 36	467,147	1,685	(242,734)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		122,856
Issuance of common stock upon exercise of stock options	273		273
Repurchase of early exercised common stock options (in shares)		(12,945)
Change in shares subject to repurchase	66		66
Stock-based compensation expense	2,462		2,462
Currency translation adjustment	(272)			(272)
Change in unrealized gains (losses) on marketable securities	(3)			(3)
Net loss	(12,512)				(12,512)
Ending balance (in shares) at Mar. 31, 2021		35,803,664
Ending balance at Mar. 31, 2021	$ 216,148	$ 36	469,948	1,410	(255,246)
Beginning balance (in shares) at Dec. 31, 2020	35,693,753	35,693,753
Beginning balance at Dec. 31, 2020	$ 226,134	$ 36	467,147	1,685	(242,734)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(25,474)
Ending balance (in shares) at Jun. 30, 2021		36,580,617
Ending balance at Jun. 30, 2021	$ 208,868	$ 36	475,561	1,479	(268,208)
Beginning balance (in shares) at Dec. 31, 2020	35,693,753	35,693,753
Beginning balance at Dec. 31, 2020	$ 226,134	$ 36	467,147	1,685	(242,734)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	974,289
Currency translation adjustment	$ (141)
Change in unrealized gains (losses) on marketable securities	0
Net loss	$ (35,655)
Ending balance (in shares) at Sep. 30, 2021	36,820,407	36,820,407
Ending balance at Sep. 30, 2021	$ 202,828	$ 37	479,636	1,544	(278,389)
Beginning balance (in shares) at Mar. 31, 2021		35,803,664
Beginning balance at Mar. 31, 2021	216,148	$ 36	469,948	1,410	(255,246)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		653,609
Issuance of common stock upon exercise of stock options	1,133		1,133
Issuance of shares pursuant to Employee Stock Purchase Plan (in shares)		123,344
Issuance of shares pursuant to Employee Stock Purchase Plan	1,992		1,992
Change in shares subject to repurchase	12		12
Stock-based compensation expense	2,476		2,476
Currency translation adjustment	66			66
Change in unrealized gains (losses) on marketable securities	3			3
Net loss	(12,962)				(12,962)
Ending balance (in shares) at Jun. 30, 2021		36,580,617
Ending balance at Jun. 30, 2021	208,868	$ 36	475,561	1,479	(268,208)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon vesting of restricted stock units (in shares)		20,831
Issuance of common stock upon exercise of stock options (in shares)		197,824
Issuance of common stock upon exercise of stock options	316		315
Issuance of shares pursuant to Employee Stock Purchase Plan (in shares)		21,135
Issuance of shares pursuant to Employee Stock Purchase Plan	660		660
Change in shares subject to repurchase	64		64
Stock-based compensation expense	3,036		3,036
Currency translation adjustment	65			65
Change in unrealized gains (losses) on marketable securities	0
Net loss	$ (10,181)				(10,181)
Ending balance (in shares) at Sep. 30, 2021	36,820,407	36,820,407
Ending balance at Sep. 30, 2021	$ 202,828	$ 37	$ 479,636	$ 1,544	$ (278,389)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (35,655)	$ (22,934)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation expense	5,179	886
Employee Stock Purchase Plan, ESPP, Expense	2,339	0
Change in fair value of derivative liabilities	0	(3,209)
Allowance for doubtful accounts	(1)	(7)
Inventory write-downs	972	380
Depreciation and amortization expense	493	355
Amortization of debt discount and debt issuance costs	89	901
Write-off of deferred offering costs	0	3,030
Amortization of premiums and discounts on short-term marketable securities	37	(35)
Non-cash lease expense	1,766	955
Net changes in operating assets and liabilities:
Accounts receivable	(2,819)	336
Inventory	(5,006)	(3,944)
Prepaid expenses and other current assets	(2,399)	412
Other assets	(32)	71
Accounts payable	2,904	(166)
Accrued liabilities	3,291	310
Income taxes payable	(87)	(85)
Lease liabilities	(1,849)	(554)
Deferred tax liability	11	10
Deferred revenue	90	(83)
Net cash used in operating activities	(30,677)	(23,371)
Cash flows from investing activities
Purchases of investments	(21,608)	0
Maturities of short-term marketable securities	7,000	13,605
Purchases of property and equipment	(2,523)	(218)
Net cash (used in) provided by investing activities	(17,131)	13,387
Cash flows from financing activities
Proceeds from borrowing under term loans, net of payment of lender fees and costs	0	16,764
Proceeds from Credit Agreement	0	527
Repayment of term loans	0	(17,248)
Proceeds from the issuance of convertible note, net of payment of lender fees and costs	0	32,950
Proceeds from Paycheck Protection Program loan	0	2,666
Repayment of Paycheck Protection Program loan	0	(2,666)
Payments of debt issuance cost	(41)	(162)
Payments of deferred offering costs	0	(2,727)
Proceeds from exercise of warrants for Series C-1 convertible preferred stock	0	2,261
Proceeds from exercise of common stock options	1,721	2,722
Proceeds from issuance of common stock under the employee stock purchase plan	2,652	0
Payments for repurchase of early exercised common stock options	(26)	(21)
Net cash provided by financing activities	4,306	35,066
Effect of exchange rate changes on cash and cash equivalents	16	188
Net (decrease) increase in cash and cash equivalents	(43,486)	25,270
Cash, cash equivalents and restricted cash, at beginning of the period	231,792	14,767
Cash, cash equivalents and restricted cash, at end of the period	188,306	40,037
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets:
Cash and cash equivalents	188,075	39,806
Restricted cash	231	231
Cash, cash equivalents and restricted cash in consolidated balance sheets	188,306	40,037
Supplemental non-cash items:
Lapse (increase) in repurchase rights of common stock	142	(395)
Purchases of property and equipment in accounts payable	1,065	288
Accrued interest for convertible note	0	788
Issuance of derivative instrument related to convertible notes	0	3,900
Operating lease right of use assets obtained in exchange for new lease liabilities	1,265	3,882
Supplemental disclosure of cash flow information:
Cash paid for income taxes	283	149
Cash paid for interest	$ 602	$ 2,880

Formation and Business of the C

Formation and Business of the Company	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Formation and Business of the Company	Formation and Business of the Company The Company Pulmonx Corporation (the “Company”) was incorporated in the state of California in December 1995 as Pulmonx and reincorporated in the state of Delaware in December 2013. The Company is a commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a form of chronic obstructive pulmonary disease (“COPD”). The Company’s solution, which is comprised of the Zephyr Endobronchial Valve (“Zephyr Valve”), the Chartis Pulmonary Assessment System (“Chartis System”) and the StratX Lung Analysis Platform (“StratX Platform”), is designed to treat a broad pool of patients for whom medical management has reached its limits and either do not want or are ineligible for surgical approaches. The Company has subsidiaries in Germany, Switzerland, Australia, the United Kingdom, the Netherlands, Italy, France and Hong Kong. Initial Public Offering On September 30, 2020, the Company’s registration statement on Form S-1 (File No. 333-248635) relating to its initial public offering (“IPO”) of common stock became effective. The IPO closed on October 5, 2020 at which time the Company issued 11,500,000 shares of its common stock at a price of $19.00 per share, which included the issuance of shares in connection with the exercise by the underwriters of their option to purchase up to 1,500,000 additional shares. The Company received an aggregate of $218.5 million gross proceeds, before underwriting discounts, commissions and offering costs, and approximately $201.4 million in net proceeds after deducting underwriting discounts and commissions and offering costs. In addition, upon closing the IPO, all outstanding shares of the Company’s convertible preferred stock converted into 17,797,026 shares of common stock. Additionally, the $33.0 million aggregate outstanding principal amount and $0.8 million accrued interest of the 2020 Notes converted into 2,561,484 shares of common stock at a conversion price of $13.20 per share. In connection with the completion of its IPO, on October 5, 2020, the Company’s certificate of incorporation was amended and restated to provide for 200,000,000 authorized shares of common stock with a par value of $0.001 per share and 10,000,000 authorized shares of preferred stock with a par value of $0.001 per share. Liquidity and Going Concern The Company has incurred operating losses and negative cash flows from operations to date and has an accumulated deficit of $278.4 million as of September 30, 2021. During the nine months ended September 30, 2021 and September 30, 2020, the Company used $30.7 million and $23.4 million of cash in its operating activities, respectively. As of September 30, 2021, the Company had cash, cash equivalents and marketable securities of $202.6 million. Historically, the Company’s activities have been financed through private placements of equity securities, debt and sale of common stock in the IPO. The Company’s condensed consolidated financial statements have been prepared on the basis of the Company continuing as a going concern for the next 12 months. Management believes that the Company’s existing cash, cash equivalents and marketable securities will allow the Company to continue its planned operations for at least the next 12 months from the date of the issuance of these unaudited interim condensed consolidated financial statements. Impact of the COVID-19 Pandemic In response to the novel coronavirus, or COVID-19 pandemic, numerous state and local jurisdictions imposed travel bans, restrictions, social distancing requirements, quarantines, stay-at-home orders and other significant measures beginning in March 2020. In the markets in which we operate, elective, specialty and other procedures and appointments were suspended or canceled. The COVID-19 pandemic significantly delayed and decreased the number of procedures performed using the Company’s products. As a result, we experienced a material adverse impact on our business, financial condition and results of operations in 2020. Beginning in March 2021, we observed indicators of recovery in our US markets, which continued in the second quarter. During the third quarter of 2021, procedure volumes were again adversely impacted in the U.S. in certain regions that were affected by the Delta variant of COVID-19. In certain international markets in Europe, our business recovered during the third quarter of 2021, due to procedure volumes increasing as COVID-19 cases gradually declined through the quarter. We may continue to see regional variations in procedure volumes in our markets from the COVID-19 pandemic and its variants. The Company’s unaudited interim condensed consolidated financial statements reflect judgments and estimates that could change in the future as a result of the COVID-19 pandemic. The COVID-19 pandemic has adversely impacted the Company’s business, financial condition and results of operations by decreasing and delaying procedures performed using its products. While we have seen many regions begin to stabilize with improvements in procedure volumes, there continues to be variability and uncertainty as variants of the virus emerge. We can make no assurance regarding any future level of demand for our products, and COVID-19 may adversely impact our results of operations and financial condition.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The Company’s unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). Reverse Stock Split On September 22, 2020, the Company effected a 1-for-10 reverse stock split of the Company’s common stock and convertible preferred stock. The par value and authorized shares of common stock were not adjusted as a result of the reverse stock split. All issued and outstanding common stock, convertible preferred stock, stock options and per share amounts contained in the accompanying financial statements and notes to the financial statements have been retroactively adjusted to give effect to the reverse stock split for all periods presented. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Unaudited Interim Financial Information The condensed consolidated balance sheet as of December 31, 2020 was derived from the Company’s audited financial statements, but does not include all disclosures required by GAAP. The accompanying unaudited condensed consolidated financial statements as of September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020, have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to make the information presented not misleading. Accordingly, these financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2020 and notes thereto, included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on March 15, 2021. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s condensed consolidated financial position as of September 30, 2021 and condensed consolidated results of operations for the three and nine months ended September 30, 2021 and 2020 and condensed consolidated cash flows for the nine months ended September 30, 2021 and 2020 have been made. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2021. Use of Estimates The preparation of unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. Significant estimates and assumptions include reserves and write-downs related to inventories, the recoverability of long term assets, valuation of equity instruments and equity-linked instruments, valuation of common stock, stock-based compensation, valuation of the derivative liability, intangible assets, goodwill, debt and related features, deferred tax assets and related valuation allowances and impact of contingencies. Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. The derivative liabilities were carried at fair value based on unobservable market inputs. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the term loan approximates their fair value. The fair value of marketable debt securities is estimated using Level 2 inputs based on their quoted market values (Note 4). Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents balances with established financial institutions and, at times, such balances with any one financial institution may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limits. As of September 30, 2021 and December 31, 2020, the Company also had cash on deposit with foreign banks of approximately $4.0 million and $5.6 million, respectively, that was not federally insured. The Company earns revenue from the sale of its products to distributors and other customers such as hospitals. Sales of Zephyr Valves and delivery catheters accounted for most of the Company’s revenue for the nine months ended September 30, 2021 and 2020. The Company’s accounts receivable are derived from revenue earned from distributors and customers. The Company performs ongoing credit evaluations of its customers’ and distributors’ financial condition and generally requires no collateral from its customers and distributors. At September 30, 2021 and December 31, 2020, no customer or distributor accounted for more than 10% of accounts receivable. During the three and nine months ended September 30, 2021 and September 30, 2020, no customer or distributor accounted for more than 10% of revenue. The Company relies on single source suppliers for the components, sub-assemblies and materials for its products. These components, sub-assemblies and materials are critical and there are no or relatively few alternative sources of supply. The Company’s suppliers have generally met the Company’s demand for their products and services on a timely basis. Deferred Offering Costs Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the Company’s IPO, are capitalized and recorded on the balance sheet. During the year ended December 31, 2020, the Company wrote off deferred offering costs of $3.0 million as, in May 2020, the Company withdrew its registration statement that was filed with the SEC in February 2020. After the registration statement was withdrawn in May 2020, an additional $1.8 million in deferred offering costs were incurred related to the Company’s October 2020 IPO. In connection with the IPO, all deferred offering costs incurred after May 2020 were recorded as reduction of the gross proceeds from the IPO in the additional paid-in capital on the accompanying balance sheet as of December 31, 2020. There were no deferred offering costs capitalized as of September 30, 2021. Foreign Currency Translation and Transaction Gains and Losses The functional currencies of the Company’s wholly owned subsidiaries in the Netherlands are the U.S. dollar. The functional currencies of the Company’s wholly owned subsidiaries in Switzerland, Germany, Australia, the United Kingdom, France and Hong Kong are the Swiss franc. The functional currency of the Company’s subsidiary in Italy is the Euro. Accordingly, asset and liability accounts of Switzerland, Germany, Australia, the United Kingdom, Italy and Hong Kong operations are translated into U.S. dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into U.S. dollars using historical rates. The revenues and expenses are translated using the average exchange rates in effect during the period, and gains and losses from foreign currency translation adjustments are included as a component of accumulated other comprehensive income in the condensed consolidated balance sheet. Foreign currency translation adjustments are recorded in other comprehensive income (loss) in the condensed consolidated statements of operations and comprehensive loss and was $0.1 million and less than $0.1 million during the three months ended September 30, 2021 and 2020, respectively, and $(0.1) million and $0.3 million during the nine months ended September 30, 2021 and 2020, respectively. Foreign currency transaction gains and losses are included in other income (expense), net in the condensed consolidated statements of operations and comprehensive loss and was $(0.3) million and $0.1 million during the three months ended September 30, 2021 and 2020, respectively, and $(0.2) million and $(0.2) million during the nine months ended September 30, 2021 and 2020, respectively. Net Loss per Share Attributable to Common Stockholders Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, convertible preferred stock, stock options, common stock subject to repurchase related to early exercise of stock options, and convertible preferred stock warrants are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities as the convertible preferred stock is considered a participating security because it participates in dividends with common stock. The Company also considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities, because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of all series of convertible preferred stock and the holders of the shares issued upon early exercise of stock options subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This ASU is effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company adopted ASU 2019-12 as of January 1, 2021 and the adoption did not have a material impact on the Company’s unaudited interim condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). The amendments in ASU 2020-04 provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning an interim period that includes or is subsequent to March 12, 2020, or prospectively from the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic, the amendments must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company may elect to apply ASU 2020-04 as its contracts referenced in London Interbank Offered Rate (“LIBOR”) are impacted by reference rate reform. The Company is currently evaluating the impact of the adoption of this ASU on the Company’s consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting For Convertible Instruments and Contracts in an Entity's Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. ASU 2020-06 also simplifies the diluted net income per share calculation in certain areas. This ASU is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this principle on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses . This new guidance will require financial instruments to be measured at amortized cost, and trade accounts receivable to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. In November 2019, the FASB issued ASU 2019-10, according to which, the new standard is effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies (“SRC”) as defined by the SEC, for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other entities, including the Company, the new standard is effective for fiscal years beginning after December 15, 2022, and interim periods within that fiscal year. Early adoption is permitted. The Company is currently evaluating the impact of the new standard on the Company’s consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Level 2 – Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; Level 3 – Unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis – Financial assets and liabilities held by the Company measured at fair value on a recurring basis include money market funds, marketable securities, convertible preferred stock warrant liability and derivative liabilities. Assets and Liabilities Measured and Recorded at Fair Value on a Nonrecurring Basis – The Company determines the fair value of long-lived assets held and used, such as intangible assets, by reference to independent appraisals, quoted market prices (e.g. an offer to purchase) and other factors. An impairment charge is recorded when the carrying value of the asset exceeds its fair value. As noted above, there have been no impairment charges recorded to date. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the term loan approximates the fair value and is classified as a Level 2 liability. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. The following tables summarizes the types of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): September 30, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 234 $ — $ — $ 234 Cash equivalents 234 — — 234 U.S. Treasury bonds 4,803 — — 4,803 U.S. Government agency bonds — 3,513 — 3,513 Corporate bonds — 760 — 760 Commercial paper — 5,496 — 5,496 Marketable securities 4,803 9,769 — 14,572 Total financial assets $ 5,037 $ 9,769 $ — $ 14,806 There were no liabilities measured at fair value on a recurring and non-recurring basis as of September 30, 2021. December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 10,533 $ — $ — $ 10,533 Cash equivalents 10,533 — — 10,533 Total financial assets $ 10,533 $ — $ — $ 10,533 There were no liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2020. The following table summarizes the cost, unrealized gains and losses and fair value of marketable securities (in thousands): September 30, 2021 Amortized Cost Unrealized Losses Unrealized Gains Fair Value U.S. Treasury bonds $ 4,803 $ — $ — $ 4,803 U.S. Government agency bonds 3,513 — — 3,513 Corporate bonds 760 — — 760 Commercial paper 5,496 — — 5,496 Marketable securities $ 14,572 $ — $ — $ 14,572 Amounts recognized on the consolidated balance sheet Short-term marketable securities $ 11,774 Long-term marketable securities 2,798 Marketable securities $ 14,572 The Company did not have any marketable securities as of December 31, 2020. Accrued interest receivable on marketable securities of less than $0.1 million is included in prepaid expenses and other current assets on the condensed consolidated balance sheet. The Company valued a Success Fee derivative liability based on the Success Fee amount of $1.9 million and the probability and estimated timing of a liquidity event. On October 5, 2020, the Success Fee derivative liability was settled upon the Company payment of $1.9 million pursuant to the Success Fee Agreement to Oxford Finance LLC. The Company valued a 2020 Notes derivative liability using the “with and without” methodology. The “with and without” methodology involves valuing the convertible note on an as is basis and then valuing the 2020 Notes without each individual embedded derivative. The difference between the value of the 2020 Notes with the embedded derivatives and the value without each individual embedded derivative equals the fair value of that embedded derivative. The Company used a Monte Carlo Simulation to value the embedded derivatives. The first step of each simulation was to forecast the Company’s Series G-1 convertible preferred stock price through the expiration of the 2020 Notes. In order to estimate the future share price of the Series G-1 convertible preferred stock, the Company applied a “random walk” model based upon a Geometric Brownian Motion process with a constant drift. The fair value of the 2020 Notes derivative liability was determined using the following assumptions: April 17, 2020 Risk-free interest rate 0.2 % Current Series G-1 convertible preferred stock value per share $ 0.84 Series G-1 convertible preferred stock volatility 34.4 % As of September 30, 2020, the Company assumed the 2020 Notes would be converted pursuant to a qualified initial public offering (Note 6), as the IPO was highly likely to occur as of September 30, 2020. As a result, the Company concluded that the 2020 Notes derivative had no value upon the closing of the IPO, because value of the notes with and without the derivative was the same. The change in fair value of derivative liabilities is summarized below (in thousands): Success Fee Derivative Liability 2020 Notes Derivative Liability Beginning fair value, January 1, 2020 $ 1,165 $ — Fair value at inception — 3,900 Change in fair value 691 (3,900) Ending fair value, September 30, 2020 $ 1,856 $ —

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Cash and Cash Equivalents The Company’s cash and cash equivalents consist of the following (in thousands): September 30, December 31, 2021 2020 Cash $ 187,841 $ 221,028 Cash equivalents: Money market funds 234 10,533 Total cash and cash equivalents $ 188,075 $ 231,561 Inventory Inventory consists of the following (in thousands): September 30, December 31, 2021 2020 Raw materials $ 3,486 $ 3,342 Work in process 708 227 Finished goods 10,791 7,172 Total inventory $ 14,985 $ 10,741 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, 2021 2020 Prepaid expenses $ 1,690 $ 381 Prepaid insurance 3,140 2,131 VAT receivable 311 339 Other current assets 519 377 Total prepaid expenses and other current assets $ 5,660 $ 3,228 Property and Equipment, Net Property and equipment, net consist of the following (in thousands): September 30, December 31, 2021 2020 Machinery and equipment $ 1,651 $ 1,447 Computer equipment and software 1,714 1,062 Furniture and fixtures 239 229 Leasehold improvements 583 57 Construction in progress 2,655 452 Total 6,842 3,247 Less: accumulated depreciation (2,139) (1,773) Property and equipment, net $ 4,703 $ 1,474 Depreciation expense for the three months ended September 30, 2021 and September 30, 2020 was $0.2 million and $0.1 million, respectively. Depreciation expense for the nine months ended September 30, 2021 and September 30, 2020 was $0.4 million and $0.3 million, respectively. Goodwill Goodwill was $2.3 million as of September 30, 2021 and December 31, 2020 arising from the Company’s acquisition of Emphasys Medical, Inc, in March 2009. No goodwill impairment losses have been recognized since the acquisition. There were no acquisitions or dispositions of goodwill in nine months ended September 30, 2021 and 2020. The Company assesses goodwill for impairment annually, or more frequently, when events or changes in circumstances indicate there may be impairment. Through September 30, 2021, there have been no events or changes in circumstances that indicated that the carrying value of goodwill may not be recoverable. As a result, no impairment charge was recorded during the nine months ended September 30, 2021. Intangible Assets Intangible assets consist of the following (in thousands): September 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value Developed technology $ 1,658 $ (1,382) $ 276 Trademarks 191 (159) 32 Total intangible assets $ 1,849 $ (1,541) $ 308 December 31, 2020 Gross Carrying Value Accumulated Amortization Net Carrying Value Developed technology $ 1,658 $ (1,299) $ 359 Trademarks 191 (150) 41 Total intangible assets $ 1,849 $ (1,449) $ 400 Amortization expense relating to the intangibles totaled less than $0.1 million and less than $0.1 million during the three months ended September 30, 2021 and September 30, 2020, respectively. Amortization expense relating to the intangibles totaled $0.1 million and $0.1 million during each nine months ended September 30, 2021 and September 30, 2020, respectively. Future amortization expense is as follows as of September 30, 2021 (in thousands): 2021 (remaining three months) $ 31 2022 123 2023 123 2024 31 Total amortization expense $ 308 Accrued Liabilities Accrued liabilities consist of the following (in thousands): September 30, December 31, 2021 2020 Accrued employee bonuses and commissions $ 3,253 $ 2,374 Accrued vacation 1,787 1,810 Other accrued personnel related expenses 2,328 1,368 Accrued professional fees 2,840 1,313 Sales taxes, franchise tax and VAT 616 521 Liability for early exercise of stock options 460 629 Accrued inventory purchases 229 57 Other 861 579 Total accrued liabilities $ 12,374 $ 8,651

Long Term Debt and Convertible

Long Term Debt and Convertible Notes	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long Term Debt and Convertible Notes	Long Term Debt and Convertible Notes Term Loan Oxford Finance Loan From August 2014 until February 2020, the Company was party to a Loan and Security Agreement with Oxford Finance LLC, which provided the ability to borrow up to $20.0 million in term loans (“Oxford Finance Loan”). In 2014, the Company borrowed $15.0 million. The term loan bore interest at 8.96% and had a five-year term. The first 36 months were interest only payments followed by 24 months of equal payments of principal and interest. A final payment of 8.50% of the term loan amount was due at maturity and was being accreted using the effective interest rate method. The term loan was collateralized by assets, including cash and cash equivalents, accounts receivable and property and equipment. The Oxford Finance Loan was subsequently amended in 2017 and 2018 to extend the interest only period and to extend the maturity date to July 1, 2020, and at the Company’s option, further extend the maturity date to May 1, 2021. In 2019, the Company elected to extend the maturity date to May 2021. In connection with the original agreement in August 2014, the Company also entered into the Success Fee Agreement. In the event of a sale or other disposition by the Company of all or substantially all of its assets, a merger or consolidation, or an initial public offering (a “Liquidity Event”), before the termination of the agreement on August 28, 2021, the Company was required to pay up to $2.5 million (the “Success Fee”) to Oxford Finance LLC, the amount of which would be based on actual borrowings, up to $20.0 million. This agreement was identified as a freestanding derivative under ASC 815, Derivatives (“Success Fee”) and was remeasured to its fair value at the end of each reporting period and any change in fair value is recognized as change in other income (expense), net in the statements of operations and comprehensive loss (Note 4). On October 5, 2020, in connection with the IPO, the Company paid $1.9 million pursuant to the Success Fee Agreement to Oxford Finance LLC based on the $15.0 million borrowed. On February 20, 2020, the Company repaid its entire obligation under the term loan agreement with Oxford Finance LLC amounting to $17.3 million, including outstanding loan amount of $15.0 million, final payment of $1.3 million, amendment fees of $0.9 million and accrued interest of $0.1 million. The repayment of the obligation under the term loan agreement with Oxford Finance LLC was accounted as extinguishment and the Company recorded a loss on extinguishment of $0.4 million included in interest expense in the condensed consolidated statements of operations and comprehensive loss. During the three and nine months ended September 30, 2020, the Company recorded interest expense related to deferred financing and debt issuance costs of Oxford Finance Loan of $0 and less than 0.1 million, respectively. Interest expense on the term loan amounted to $0 and $0.4 million during the three and nine months ended September 30, 2020, respectively. CIBC Loan On February 20, 2020, the Company executed a Loan and Security Agreement (the “CIBC Agreement”) with Canadian Imperial Bank of Commerce (“CIBC”) to raise up to $32.0 million in debt financing (“CIBC Loan”) consisting of $17.0 million advanced at the closing of the agreement (“Tranche A”), with the option to drawing up to an additional $8.0 million (“Tranche B”) on or before February 20, 2022. The term loan also provides for an additional financing tranche (“Tranche C”) of up to $7.0 million on or prior to February 20, 2022, which is conditioned upon achieving a trailing six-month revenue of at least $20.0 million as of the date of any Tranche C borrowing. The availability of Tranche B and Tranche C is further conditioned upon the joining of Pulmonx International Sàrl to the CIBC Agreement and the execution by Pulmonx International Sàrl of Swiss-law collateral documentation in favor of CIBC. The CIBC Loan originally had a five-year term maturing on February 20, 2025, which included 24 months of interest only payments followed by 36 months of equal payments of principal and interest. The interest only period can be extended to 36 months if the Company achieves three-month trailing revenue of at least $20.0 million as of February 20, 2022. The CIBC Loan bears interest at a floating rate equal to 1.0% above the Wall Street Journal Prime Rate at any time. The Tranche C loan will bear interest at a floating rate equal to 1.5% above the Wall Street Journal Prime Rate at any time. The CIBC Loan is collateralized by substantially all of the Company’s assets, including cash and cash equivalents, accounts receivable, intellectual property and equipment. The Company may prepay the loan, subject to certain requirements. The CIBC Agreement includes customary restrictive covenants, financial covenants, events of default and other customary terms and conditions. In April 2020, the Company entered into a First Amendment to CIBC Agreement that changed the maturity date to March 15, 2022, which would be automatically extended to February 20, 2025 if the maturity of all outstanding convertible notes (see below) was extended to a date no earlier than May 21, 2025 or all convertible notes converted into convertible preferred stock of the Company. An amendment fee of $0.2 million was paid. The Tranche B drawing is conditioned to achieving a trailing six-month revenue of at least $15.0 million as of the date of any Tranche B borrowing. On the date of drawing Tranche B Loan or Tranche C Loan, the Company will pay a structuring fee in an amount equal to 1.0% of the amount of Tranche B Loan or Tranche C Loan. The amendment was accounted for as a debt modification and no gain or loss was recognized. In December 2020, to address certain post-close covenants for which the Company was not in compliance, the Company entered into a Second Amendment to the CIBC Agreement that extended the compliance of such covenants to June 30, 2021. In March 2021, the Company entered into a Third Amendment to CIBC Agreement which extended the maturity date from March 15, 2022 to February 20, 2025, and modified certain financial covenants. Per the amended terms, 36 equal payments of principal plus accrued interest will be due beginning March 31, 2022. The beginning of principal repayment can be extended to March 31, 2023 if the Company achieves three-month trailing revenue of at least $20.0 million as of February 20, 2022. In connection with the Third Amendment the Company paid fees to CIBC of less than $0.1 million which were recorded as a discount on the CIBC Loan and are being accreted over the life of the term loan using the effective interest method. The amendment was accounted for as a debt modification and no gain or loss was recognized. In June 2021, the Company entered into an amended and restated loan and security agreement with CIBC that extended the compliance of certain post-close covenants to March 31, 2022. As of September 30, 2021, the CIBC Loan had an annual effective interest rate of 4.78% per year. The financial covenants in the CIBC Agreement require that, when the cash and cash equivalents of the Company is less than $100.0 million, the Company have revenue for the trailing three-month period ending on the last day of each fiscal quarter of not less than 80.0% of the revenue for the trailing three-month period, as set forth in the annual projections delivered to the CIBC. Further, the Company is required to maintain unrestricted cash in an aggregate amount equal to or greater than the Adjusted EBITDA loss as defined in the CIBC Agreement for the four-month period ending on any date of determination. As of September 30, 2021, the Company was in compliance with all covenants contained in CIBC Agreement. The CIBC Loan consists of the following (in thousands): September 30, December 31, 2021 2020 Term loan $ 17,000 $ 17,000 Less: debt issuance costs (147) (196) Term loan $ 16,853 $ 16,804 The Company paid $0.4 million fees to the lender and third parties which is reflected as a discount on the CIBC Loan and is being accreted over the life of the term loan using the effective interest method. During each three months ended September 30, 2021 and 2020, the Company recorded interest expense related to debt discount and debt issuance costs of CIBC Loan of less than $0.1 million, respectively. During the nine months ended September 30, 2021 and 2020, the Company recorded interest expense related to debt discount and debt issuance costs of CIBC Loan of $0.1 million and $0.1 million, respectively. Interest expense on the CIBC Loan amounted $0.2 million and $0.2 million during the three months ended September 30, 2021 and 2020, respectively. Interest expense on the CIBC Loan amounted $0.6 million and $0.5 million during the nine months ended September 30, 2021 and 2020, respectively. Credit Agreement In April 2020, Pulmonx International Sàrl, a wholly-owned subsidiary of the Company, entered into a COVID-19 Credit Agreement with UBS Switzerland AG to receive up to 0.5 million Swiss Francs ($0.5 million U.S. dollar equivalent) under Swiss Federal Government program to mitigate the economic impact of the spread of the coronavirus. In May 2020, Pulmonx International Sàrl received $0.5 million Swiss Francs ($0.5 million U.S. dollar equivalent) under the COVID-19 Credit Agreement. The COVID-19 Credit Agreement bears no interest and is payable within 60 months after receipt of funds. As of September 30, 2021, Pulmonx International Sàrl did not make any repayment of credit agreement. 2020 Notes In April 2020, the Company entered into a Note Purchase Agreement and Convertible Promissory Notes (collectively the “2020 Notes Agreement”) with certain investors (the “Lenders”) to issue convertible promissory notes (the “2020 Notes”) for a maximum aggregate amount of $66.0 million. In April 2020, the Company received $33.0 million in gross proceeds from issuance of the 2020 Notes. Upon meeting customary closing conditions, the Company can draw up to an additional $33.0 million, provided that any such draw be for no less than $5.0 million on or prior to April 17, 2022. All unpaid interest and principal will be due and payable upon request of the majority of Lenders (“Majority Holders”) on or after the earlier of April 17, 2022 or an event of default. The 2020 Notes accrue interest at a rate equal to 2.0% above the Wall Street Journal Prime Rate. The Company may prepay the 2020 Notes prior to April 17, 2022 only with the consent of the Majority Holders. The 2020 Notes included embedded derivatives that were required to be bifurcated from the 2020 Notes and accounted for separately as a single, compound embedded derivative instrument under ASC 815, Derivatives (“2020 Notes derivative liability”). The Company determined that a share settled redemption in the case of a financing or an IPO as described in the 2020 Notes represented an embedded derivative that was not clearly and closely related to the debt host and had accounted for these settlement alternatives as separate embedded derivative liability. The fair value of the 2020 derivative liability of $3.9 million was recorded on the issuance date of the 2020 Notes resulting in a debt discount, which was reported as a direct deduction from the face amount of the 2020 Notes. The 2020 derivative liability was remeasured to its fair value at the end of each reporting period and any change in fair value is recognized in other income (expense), net in the statements of operations and comprehensive loss (Note 4). The change in fair value of $3.3 million and $3.9 million during the three and nine months ended September 30, 2020, respectively, was recorded as a component of other income (expense), net in the condensed consolidated statements of operations and comprehensive loss. Upon the closing of the IPO in October 2020, the $33.0 million aggregate outstanding principal amount and $0.8 million accrued interest of the 2020 Notes converted into 2,561,484 shares of common stock pursuant to the Qualified IPO conversion at the $13.20 per share fixed price. The Company determined that the 2020 Notes derivative had no value upon the closing of the IPO, because value of the notes with and without such derivative was the same. During the three and nine months ended September 30, 2020, the Company recorded interest expense of 0.9 million and $1.6 million on the 2020 Notes, respectively. At September 30, 2021, the Company retained the ability to draw up to an additional $33.0 million under the 2020 Notes Agreement until the maturity date in April 2022. The Company’s obligations with respect to the 2020 Notes are unsecured and subordinated to its obligations with respect to the CIBC Loan. The 2020 Notes have customary events of default. Contractual Maturities of Financing Obligations As of September 30, 2021, the aggregate future payments under the CIBC Loan and Credit Agreement (including interest payments) are as follows (in thousands): 2021 (remaining three months) $ 182 2022 5,369 2023 6,078 2024 5,837 2025 1,487 Total 18,953 Less: interest (1,415) Less: unamortized debt discount (148) Term loan and credit agreement $ 17,390

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company’s contract liabilities consist of deferred revenue for remaining performance obligations by the Company to the customer after delivery, which was $0.2 million and $0.1 million as of September 30, 2021 and December 31, 2020, respectively. The deferred revenue as of December 31, 2019 was $0.2 million, which was recognized as revenue during the year ended December 31, 2020. The deferred revenue as of December 31, 2020 was $0.1 million, which was recognized as revenue during the nine months ended September 30, 2021. The Company disaggregates its revenue by major geographic region, which has been disclosed in Note 14, “Segment Information”.

Leases, Lease Commitments and C

Leases, Lease Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases, Lease Commitments and Contingencies	Leases, Lease Commitments and Contingencies The Company has a lease for its headquarters location in Redwood City, California. In October 2019, the Company renewed its lease for the headquarters location in Redwood City, California for an additional five years commencing in August 2020 and expiring in July 2025. The monthly base rent during the renewed term is $0.1 million and is subject to an annual increase of 3.5%. The Company is responsible for its share of real estate taxes, common area maintenance and management fees. The Company is eligible to receive a tenant improvement allowance of $0.2 million on commencement of the renewal term in August 2020. During 2013, the Company entered into a five-year lease for office facilities in Switzerland. The Company had an option to extend the lease through January 2022, which was not exercised by the Company. Per the lease terms, in the event the option to extend is not exercised, the lease remains in force and can be terminated with 12-months’ notice. In April 2020, the Company executed a sublease for another office facility in Redwood City, California for a three-year term commencing on June 1, 2020. The lease agreement provides for early termination if the Company or Sublandlord elects to terminate the lease by providing the other party at least 180 days prior written notice. The early termination may only occur on or after the expiration of the 18th full calendar month of the sublease term. The monthly base rent during the term is less than $0.1 million and is subject to an annual increase of 3.5%. The Company is responsible for its share of real estate taxes, common area maintenance and management fees. In September 2020, the Company amended a sublease agreement entered into in April 2020, to include additional facility space in Redwood City, California for a four-year term. The amendment was accounted as a separate sublease agreement. The sublease agreement contained a rent-free period through February 14, 2021, after which rent is approximately $0.1 million per month and is subject to an annual increase of 3.5%. The Company is responsible for its share of real estate taxes, common area maintenance and management fees. The Company is eligible to receive a tenant improvement allowance of $0.7 million to fund facility enhancements. The sublease agreement can be extended for an additional twelve Operating lease cost consists of the following (in thousands): Nine months ended September 30, 2021 2020 Operating lease cost $ 2,117 $ 1,322 Short-term lease cost 13 9 Variable lease cost 484 227 Total lease cost $ 2,614 $ 1,558 The following table summarizes a maturity analysis of the Company’s lease liabilities showing the aggregate lease payments as of September 30, 2021 (in thousands): 2021 (remaining three months) $ 682 2022 2,586 2023 3,342 2024 2,820 2025 1,007 Total minimum lease payments 10,437 Less: Amount of lease payments representing interest 1,051 Present value of future minimum lease payments $ 9,386 Less: Current lease liabilities 1,946 Long-term lease liabilities $ 7,440 The following table summarizes additional information related to the Company’s operating leases (in thousands, except weighted average data): September 30, 2021 December 31, 2020 Right of use asset $ 8,474 $ 8,976 Weighted average remaining lease term (years) 3.41 4.13 Weighted average discount rate (percent) 6.0 6.1 The following table summarizes other supplemental information related to the Company’s operating leases (in thousands): Nine Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities included in cash flows used in operating activities $ 2,127 $ 963 Right-of-use assets obtained in exchange for lease liabilities $ 1,265 $ 3,882 Contingencies From time to time, the Company may be a party to various litigation claims in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with legal counsel, the need to record a liability for litigation and contingencies. Accrual estimates are recorded when and if it is determinable that such a liability for litigation and contingencies are both probable and reasonably estimable. In December 2018, a former distributor outside the United States filed suit alleging the Company’s subsidiary, PulmonX International Sàrl, conducted unfair competitive practices and violated the exclusive distribution rights as a result of the subsidiary’s termination of its distribution agreement. The complaint seeks pecuniary and non-pecuniary damages. The Company is in the initial stages of evaluating this matter and does not believe the impact of any such matter will be material to the Company’s results of operation or financial position.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax expense for the three months ended September 30, 2021 and September 30, 2020 was less than $0.1 million and less than $0.1 million, respectively. The income tax expense for the nine months ended September 30, 2021 and September 30, 2020 was $0.2 million and $0.2 million, respectively. The income tax expense was determined based upon estimates of the Company’s effective income tax rates in various jurisdictions. The difference between the Company’s effective income tax rate and the U.S. federal statutory rate is primarily attributable to state income taxes, foreign income taxes, the effect of certain permanent differences, and full valuation allowance against net deferred tax assets. The income tax expense for the nine months ended September 30, 2021 and 2020 relates primarily to state minimum income tax and income tax on the Company’s earnings in foreign jurisdictions. The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act enacted in March 2020 did not provide an income tax benefit for the Company given its historical U.S. losses and a full valuation allowance against its net U.S. deferred tax assets.

Warrants for Convertible Prefer

Warrants for Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2021
Warrants and Rights Note Disclosure [Abstract]
Warrants for Convertible Preferred Stock	Warrants for Convertible Preferred Stock In January and February 2020, warrants to purchase 213,876 shares of Series C-1 convertible preferred stock were exercised at an exercise price of $10.57 per share, yielding $2.3 million cash proceeds. Warrants to purchase 1,415 shares of Series C-1 convertible preferred stock warrants expired unexercised. As of September 30, 2021 and December 31, 2020, no Series C-1 convertible preferred stock warrants were outstanding.

Convertible Preferred Stock

Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Convertible Preferred Stock	Convertible Preferred Stock Under the Company’s Amended and Restated Certificate of Incorporation, the Company is not authorized to issue any shares of convertible preferred stock. Upon the closing of the IPO in October 2020, all outstanding shares of the convertible preferred stock converted into 17,797,026 shares of common stock and the related carrying value was reclassified to common stock and additional paid-in capital. There was no issued and outstanding convertible preferred stock as of September 30, 2021 and December 31, 2020.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock As of September 30, 2021 and December 31, 2020, the Company’s certificate of incorporation authorized the Company to issue up to 200,000,000 shares of common stock. Common stockholders are entitled to dividends as and when declared by the Board of Directors, subject to the rights of holders of all classes of stock outstanding having priority rights as to dividends. There have been no dividends declared to date. The holder of each share of common stock is entitled to one vote. Shares Reserved for Future Issuance The Company has reserved shares of common stock for future issuances as follows: September 30, December 31, 2021 2020 Common stock options issued and outstanding 2,256,261 2,923,403 Common stock available for future grants 3,782,355 3,233,794 Common stock available for ESPP 932,458 720,000 Total 6,971,074 6,877,197 Stock Option Plan A summary of stock option activity for the nine months ended September 30, 2021 is set forth below: Outstanding Options Number of Shares Weighted Average Exercise Price Balance, January 1, 2021 2,923,403 $ 4.72 Options granted 421,200 43.79 Options exercised (974,289) 1.77 Options canceled (114,053) 11.26 Balance, September 30, 2021 2,256,261 $ 12.96 The weighted average exercise price and aggregate intrinsic value of options outstanding at September 30, 2021 was $12.96 per share and $55.6 million, respectively. September 30, 2021 Number of Shares Weighted Average Exercise Price Weighted Average Contractual Life (in Years) Options vested 693,952 $ 5.61 6.89 Options vested and expected to vest 2,256,261 $ 12.96 8.31 Total intrinsic value of options vested as of September 30, 2021 was $21.2 million. Early Exercise of Stock Options Under the terms of the individual option grants, all options are fully exercisable on the grant date, subject to the Company’s repurchase right at the original exercise price. Accordingly, options may be exercised prior to vesting. The shares are subject to the Company’s lapsing repurchase right upon termination of employment or over the options’ vesting period of generally four years at the original purchase price. The proceeds initially are recorded in other liabilities from the early exercise of stock options and are reclassified to additional paid-in capital as the Company’s repurchase right lapses. During the nine months ended September 30, 2021, the Company repurchased 12,945 shares of common stock for less than $0.1 million. During the nine months ended September 30, 2020, the Company repurchased 10,000 shares of common stock for less than $0.1 million. As of September 30, 2021 and December 31, 2020, 258,000 and 355,677 shares, respectively, were subject to repurchase, with an aggregate exercise price of $0.5 million and $0.6 million, respectively, and were recorded in other current liabilities. Restricted Stock Units Activity with respect to restricted stock units was as follows: Number of Shares Underlying Outstanding Restricted Stock Weighted Average Grant Date Fair Value Unvested, January 1, 2021 — $ — Granted 467,270 $ 43.40 Vested (20,831) $ 43.40 Canceled (12,751) $ 43.70 Unvested, September 30, 2021 433,688 $ 43.40 Total Stock-Based Compensation Stock-based compensation expense is reflected in the statements of operations and comprehensive loss as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of goods sold $ 154 $ 37 $ 364 $ 67 Research and development 336 63 942 96 Selling, general and administrative 2,448 418 6,212 723 Total $ 2,938 $ 518 $ 7,518 $ 886 The above stock-based compensation expense related to the following equity-based awards (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options and restricted stock units $ 2,672 $ 518 $ 5,231 $ 886 ESPP 266 — 2,287 — Total $ 2,938 $ 518 $ 7,518 $ 886 Stock-based compensation of $0.2 million and $0.8 million were capitalized into inventory for the three and nine months ended September 30, 2021, respectively. No stock-based compensation was capitalized into inventory for the three and nine months ended September 30, 2020, respectively. Stock-based compensation capitalized in prior periods of $0.2 million and $0.4 million were recognized as cost of sales in the three and nine months ended September 30, 2021. As of September 30, 2021, there was $36.0 million of unrecognized compensation costs related to non-vested common stock options and restricted stock units, expected to be recognized over a weighted-average period of 3.4 years. As of September 30, 2021, the Company had unrecognized employee stock-based compensation relating to ESPP awards of approximately $0.2 million, which is expected to be recognized over a weighted-average period of 0.4 years.

Net Loss per Share Attributable

Net Loss per Share Attributable to Common Stockholders	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss per Share Attributable to Common Stockholders	Net Loss per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders which excludes shares which are legally outstanding, but subject to repurchase by the Company (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator Net loss attributable to common stockholders $ (10,181) $ (3,860) $ (35,655) $ (22,934) Denominator Weighted-average common stock outstanding 36,721,310 2,951,564 36,252,811 2,389,145 Less: weighted-average common shares subject to repurchase (271,911) (136,766) (294,594) (168,411) Weighted-average common shares used to compute basic and diluted net loss per share 36,449,399 2,814,798 35,958,217 2,220,734 Net loss per share attributable to common stockholders, basic and diluted $ (0.28) $ (1.37) $ (0.99) $ (10.33) The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding because such securities have an antidilutive impact due to the Company’s net loss, in common stock equivalent shares: As of September 30, 2021 2020 Convertible preferred stock — 17,797,026 Options to purchase common stock 2,256,268 2,940,930 Unvested early exercised common stock options 258,000 381,387 Unvested restricted stock units 433,688 — Shares committed under ESPP 9,897 — Convertible notes* — 2,561,484 Total 2,957,853 23,680,827 ______________ * At September 30, 2020, the conversion of the 2020 Notes into convertible preferred stock was dependent on the outstanding loan balance including accrued interest and the per share conversion price (see Note 6). Upon closing the IPO, on October 5, 2020, the aggregate outstanding principal amount plus accrued interest under the 2020 Notes converted into 2,561,484 shares of common stock, which was used to determine the number of common stock issuable upon conversion of the 2020 Notes.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment InformationThe chief operating decision maker for the Company is the Chief Executive Officer. The Company’s Chief Executive Officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region, for purposes of allocating resources and evaluating financial performance. The Company has one business activity and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single reportable and operating segment structure. The Company’s Chief Executive Officer evaluates performance based primarily on revenue in the geographic locations in which the Company operates. Revenue by geographic area is based on the billing address of the customer. The following table sets forth the Company’s revenue by geographic area (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 6,860 $ 5,345 $ 17,716 $ 11,315 Europe, Middle-East and Africa (“EMEA”) 5,608 4,440 14,401 9,703 Asia Pacific 756 827 2,542 1,846 Other International 37 — 49 39 Total $ 13,261 $ 10,612 $ 34,708 $ 22,903 Revenue from Germany and France represented 16% and 9%, respectively of total revenue for the three months ended September 30, 2021. Revenue from Germany and France represented 16% and 10%, respectively of total revenue for the three months ended September 30, 2020. Revenue from Germany and France represented 13% and 9%, respectively of total revenue for the nine months ended September 30, 2021. Revenue from Germany and France represented 18% and 9%, respectively of total revenue for the nine months ended September 30, 2020. Long-lived assets by geographic area are based on physical location of those assets. The following table sets forth the Company’s long-lived assets by geographic area (in thousands): September 30, December 31, 2021 2020 United States $ 4,654 $ 1,437 EMEA 44 29 Asia Pacific 5 8 Total $ 4,703 $ 1,474

Correction of Immaterial Missta

Correction of Immaterial Misstatement in Prior Period Financial Statements	9 Months Ended
	Sep. 30, 2021
Prior Period Adjustment [Abstract]
Correction of Immaterial Misstatement in Prior Period Financial Statements	Correction of Immaterial Misstatement in Prior Period Financial Statements In connection with the preparation of the unaudited condensed consolidated financial statements for the three months ended September 30, 2021, the Company identified an immaterial understatement of previously reported accrued liabilities and selling, general and administrative expenses related to social contribution expenses related to the exercise of stock options in certain European countries that occurred in the periods ended March 31, 2021 and June 30, 2021, which impacted previously filed financial statements for the three months ended March 31, 2021, and for the three and six months ended June 30, 2021. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, “ Materiality ,” and SAB No. 108, “ Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements ,” the Company believes that the impact was not material to the financial statements for the three months ended March 31, 2021, and for the three and six months ended June 30, 2021, based on an evaluation of both quantitative and qualitative factors. As a result, the Company determined that correcting the prior period financial statements for such immaterial errors would not require the Form 10-Q for the quarterly period ended March 31, 2021 and the Form 10-Q for the quarterly period ended June 30, 2021 to be amended. The Company has elected to revise the condensed consolidated balance sheet as of March 31, 2021 and June 30, 2021, the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2021 and three and six months ended June 30, 2021, the condensed consolidated statements of cash flow for the three months ended March 31, 2021, and six months ended June 30, 2021, and the condensed consolidated statements of stockholders’ equity (deficit) for the three months ended March 31, 2021 and June 30, 2021, which will be reflected in future quarterly filings. The effect of the adjustments described above on the condensed consolidated balance sheet as of March 31, 2021 and June 30, 2021 is as follows (in thousands): March 31, 2021 June 30, 2021 As originally reported Adjustment As Revised As originally reported Adjustment As Revised Current liabilities Accrued liabilities 9,756 467 10,223 10,499 1,052 11,551 Total current liabilities 14,023 467 14,490 16,326 1,052 17,378 Total liabilities 38,655 467 39,122 39,020 1,052 40,072 Accumulated deficit (254,779) (467) (255,246) (267,156) (1,052) (268,208) Total stockholders’ equity 216,615 (467) 216,148 209,920 (1,052) 208,868 The effect of the adjustments described above on the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2021, and three and six months ended June 30, 2021 is as follows (in thousands): Three Months Ended March 31, 2021 As originally reported Adjustment As Revised Operating expenses Selling, general and administrative 15,604 467 16,071 Total operating expenses 18,638 467 19,105 Loss from operations (12,027) (467) (12,494) Net loss before tax (11,978) (467) (12,445) Net loss (12,045) (467) (12,512) Comprehensive loss $ (12,320) $ (467) $ (12,787) Net loss per share attributable to common stockholders, basic and diluted $ (0.34) $ (0.01) $ (0.35) Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 As originally reported Adjustment As Revised As originally reported Adjustment As Revised Operating expenses Selling, general and administrative 17,620 585 18,205 33,224 1,052 34,276 Total operating expenses 21,126 585 21,711 39,764 1,052 40,816 Loss from operations (12,097) (585) (12,682) (24,124) (1,052) (25,176) Net loss before tax (12,297) (585) (12,882) (24,275) (1,052) (25,327) Net loss (12,377) (585) (12,962) (24,422) (1,052) (25,474) Comprehensive loss $ (12,308) $ (585) $ (12,893) $ (24,628) $ (1,052) $ (25,680) Net loss per share attributable to common stockholders, basic and diluted $ (0.34) $ (0.02) $ (0.36) $ (0.68) $ (0.03) $ (0.71) The effect of the adjustments described above on the condensed consolidated statements of cash flow for the three months ended March 31, 2021, and six months ended June 30, 2021 is as follows (in thousands): Three Months Ended March 31, 2021 Six Months Ended June 30, 2021 As originally reported Adjustment As Revised As originally reported Adjustment As Revised Cash flows from operating activities Net loss $ (12,045) $ (467) $ (12,512) $ (24,422) $ (1,052) $ (25,474) Net changes in operating assets and liabilities: Accrued liabilities 1,275 467 1,742 1,874 1,052 2,926 Net cash used in operating activities (9,672) — (9,672) (22,362) — (22,362) The effect of the adjustments described above on the condensed consolidated statements of stockholders’ equity for the three months ended March 31, 2021 and June 30, 2021 is as follows (in thousands): As originally reported Adjustment As Revised Accumulated Deficit Total Stockholders’ Equity (Deficit) Accumulated Deficit Total Stockholders’ Equity (Deficit) Accumulated Deficit Total Stockholders’ Equity (Deficit) Balances at January 1, 2021 $ (242,734) $ 226,134 $ — $ — $ (242,734) $ 226,134 Net loss (12,045) (12,045) (467) (467) (12,512) (12,512) Balances at March 31, 2021 (254,779) 216,615 (467) (467) (255,246) 216,148 Net loss (12,377) (12,377) (585) (585) (12,962) (12,962) Balances at June 30, 2021 $ (267,156) $ 209,920 $ (1,052) $ (1,052) $ (268,208) $ 208,868

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 21, 2021, the Company entered into a Second Amendment to the amended and restated loan and security agreement with CIBC, which extended the interest only period of the loan from 24 months to 36 months. Under the amended terms, principal repayment will begin in February 2023. The loan interest rate and maturity date remain unchanged.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions. Significant estimates and assumptions include reserves and write-downs related to inventories, the recoverability of long term assets, valuation of equity instruments and equity-linked instruments, valuation of common stock, stock-based compensation, valuation of the derivative liability, intangible assets, goodwill, debt and related features, deferred tax assets and related valuation allowances and impact of contingencies.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. The derivative liabilities were carried at fair value based on unobservable market inputs. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the term loan approximates their fair value. The fair value of marketable debt securities is estimated using Level 2 inputs based on their quoted market values (Note 4).
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents balances with established financial institutions and, at times, such balances with any one financial institution may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limits.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs, consisting of legal, accounting and other fees and costs relating to the Company’s IPO, are capitalized and recorded on the balance sheet. During the year ended December 31, 2020, the Company wrote off
Foreign Currency Translation and Transaction Gains and Losses	Foreign Currency Translation and Transaction Gains and Losses The functional currencies of the Company’s wholly owned subsidiaries in the Netherlands are the U.S. dollar. The functional currencies of the Company’s wholly owned subsidiaries in Switzerland, Germany, Australia, the United Kingdom, France and Hong Kong are the Swiss franc. The functional currency of the Company’s subsidiary in Italy is the Euro. Accordingly, asset and liability accounts of Switzerland, Germany, Australia, the United Kingdom, Italy and Hong Kong operations are translated into U.S. dollars using the current exchange rate in effect at the balance sheet date and equity accounts are translated into U.S. dollars using historical rates. The revenues and expenses are translated using the average exchange rates in effect during the period, and gains and losses from foreign currency translation adjustments are included as a component of accumulated other comprehensive income in the condensed consolidated balance sheet. Foreign currency translation adjustments are recorded in other comprehensive income (loss) in the condensed consolidated statements of operations and comprehensive loss and was $0.1 million and less than $0.1 million during the three months ended September 30, 2021 and 2020, respectively, and $(0.1) million and $0.3 million during the nine months ended September 30, 2021 and 2020, respectively.
Net Loss per Share Attributable to Common Stockholders	Net Loss per Share Attributable to Common Stockholders Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, convertible preferred stock, stock options, common stock subject to repurchase related to early exercise of stock options, and convertible preferred stock warrants are considered to be potentially dilutive securities. Basic and diluted net loss attributable to common stockholders per share is presented in conformity with the two-class method required for participating securities as the convertible preferred stock is considered a participating security because it participates in dividends with common stock. The Company also considers the shares issued upon the early exercise of stock options subject to repurchase to be participating securities, because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of all series of convertible preferred stock and the holders of the shares issued upon early exercise of stock options subject to repurchase do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This ASU is effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company adopted ASU 2019-12 as of January 1, 2021 and the adoption did not have a material impact on the Company’s unaudited interim condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). The amendments in ASU 2020-04 provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning an interim period that includes or is subsequent to March 12, 2020, or prospectively from the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic, the amendments must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company may elect to apply ASU 2020-04 as its contracts referenced in London Interbank Offered Rate (“LIBOR”) are impacted by reference rate reform. The Company is currently evaluating the impact of the adoption of this ASU on the Company’s consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting For Convertible Instruments and Contracts in an Entity's Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. ASU 2020-06 also simplifies the diluted net income per share calculation in certain areas. This ASU is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this principle on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses . This new guidance will require financial instruments to be measured at amortized cost, and trade accounts receivable to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. In November 2019, the FASB issued ASU 2019-10, according to which, the new standard is effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies (“SRC”) as defined by the SEC, for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other entities, including the Company, the new standard is effective for fiscal years beginning after December 15, 2022, and interim periods within that fiscal year. Early adoption is permitted. The Company is currently evaluating the impact of the new standard on the Company’s consolidated financial statements.
Assets and Liabilities Measured at Fair Value	Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis – Financial assets and liabilities held by the Company measured at fair value on a recurring basis include money market funds, marketable securities, convertible preferred stock warrant liability and derivative liabilities. Assets and Liabilities Measured and Recorded at Fair Value on a Nonrecurring Basis – The Company determines the fair value of long-lived assets held and used, such as intangible assets, by reference to independent appraisals, quoted market prices (e.g. an offer to purchase) and other factors. An impairment charge is recorded when the carrying value of the asset exceeds its fair value. As noted above, there have been no impairment charges recorded to date. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the term loan approximates the fair value and is classified as a Level 2 liability. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Policies)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis – Financial assets and liabilities held by the Company measured at fair value on a recurring basis include money market funds, marketable securities, convertible preferred stock warrant liability and derivative liabilities. Assets and Liabilities Measured and Recorded at Fair Value on a Nonrecurring Basis – The Company determines the fair value of long-lived assets held and used, such as intangible assets, by reference to independent appraisals, quoted market prices (e.g. an offer to purchase) and other factors. An impairment charge is recorded when the carrying value of the asset exceeds its fair value. As noted above, there have been no impairment charges recorded to date. Based on the borrowing rates currently available to the Company for debt with similar terms and consideration of default and credit risk, the carrying value of the term loan approximates the fair value and is classified as a Level 2 liability. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables summarizes the types of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): September 30, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 234 $ — $ — $ 234 Cash equivalents 234 — — 234 U.S. Treasury bonds 4,803 — — 4,803 U.S. Government agency bonds — 3,513 — 3,513 Corporate bonds — 760 — 760 Commercial paper — 5,496 — 5,496 Marketable securities 4,803 9,769 — 14,572 Total financial assets $ 5,037 $ 9,769 $ — $ 14,806 There were no liabilities measured at fair value on a recurring and non-recurring basis as of September 30, 2021. December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 10,533 $ — $ — $ 10,533 Cash equivalents 10,533 — — 10,533 Total financial assets $ 10,533 $ — $ — $ 10,533
Schedule of Cost, Unrealized Gains and Losses and Fair Value of Marketable Securities	The following table summarizes the cost, unrealized gains and losses and fair value of marketable securities (in thousands): September 30, 2021 Amortized Cost Unrealized Losses Unrealized Gains Fair Value U.S. Treasury bonds $ 4,803 $ — $ — $ 4,803 U.S. Government agency bonds 3,513 — — 3,513 Corporate bonds 760 — — 760 Commercial paper 5,496 — — 5,496 Marketable securities $ 14,572 $ — $ — $ 14,572 Amounts recognized on the consolidated balance sheet Short-term marketable securities $ 11,774 Long-term marketable securities 2,798 Marketable securities $ 14,572
Schedule of Assumptions Used in Determining Fair Value	The fair value of the 2020 Notes derivative liability was determined using the following assumptions: April 17, 2020 Risk-free interest rate 0.2 % Current Series G-1 convertible preferred stock value per share $ 0.84 Series G-1 convertible preferred stock volatility 34.4 %
Schedule of Fair Value of Liabilities	The change in fair value of derivative liabilities is summarized below (in thousands): Success Fee Derivative Liability 2020 Notes Derivative Liability Beginning fair value, January 1, 2020 $ 1,165 $ — Fair value at inception — 3,900 Change in fair value 691 (3,900) Ending fair value, September 30, 2020 $ 1,856 $ —

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The Company’s cash and cash equivalents consist of the following (in thousands): September 30, December 31, 2021 2020 Cash $ 187,841 $ 221,028 Cash equivalents: Money market funds 234 10,533 Total cash and cash equivalents $ 188,075 $ 231,561
Schedule of Inventory	Inventory consists of the following (in thousands): September 30, December 31, 2021 2020 Raw materials $ 3,486 $ 3,342 Work in process 708 227 Finished goods 10,791 7,172 Total inventory $ 14,985 $ 10,741
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, 2021 2020 Prepaid expenses $ 1,690 $ 381 Prepaid insurance 3,140 2,131 VAT receivable 311 339 Other current assets 519 377 Total prepaid expenses and other current assets $ 5,660 $ 3,228
Schedule of Property and Equipment, Net	Property and equipment, net consist of the following (in thousands): September 30, December 31, 2021 2020 Machinery and equipment $ 1,651 $ 1,447 Computer equipment and software 1,714 1,062 Furniture and fixtures 239 229 Leasehold improvements 583 57 Construction in progress 2,655 452 Total 6,842 3,247 Less: accumulated depreciation (2,139) (1,773) Property and equipment, net $ 4,703 $ 1,474
Schedule Intangible Assets	Intangible assets consist of the following (in thousands): September 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value Developed technology $ 1,658 $ (1,382) $ 276 Trademarks 191 (159) 32 Total intangible assets $ 1,849 $ (1,541) $ 308 December 31, 2020 Gross Carrying Value Accumulated Amortization Net Carrying Value Developed technology $ 1,658 $ (1,299) $ 359 Trademarks 191 (150) 41 Total intangible assets $ 1,849 $ (1,449) $ 400
Schedule of Future Amortization Expense	Future amortization expense is as follows as of September 30, 2021 (in thousands): 2021 (remaining three months) $ 31 2022 123 2023 123 2024 31 Total amortization expense $ 308
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): September 30, December 31, 2021 2020 Accrued employee bonuses and commissions $ 3,253 $ 2,374 Accrued vacation 1,787 1,810 Other accrued personnel related expenses 2,328 1,368 Accrued professional fees 2,840 1,313 Sales taxes, franchise tax and VAT 616 521 Liability for early exercise of stock options 460 629 Accrued inventory purchases 229 57 Other 861 579 Total accrued liabilities $ 12,374 $ 8,651

Long Term Debt and Convertibl_2

Long Term Debt and Convertible Notes (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The CIBC Loan consists of the following (in thousands): September 30, December 31, 2021 2020 Term loan $ 17,000 $ 17,000 Less: debt issuance costs (147) (196) Term loan $ 16,853 $ 16,804
Schedule of Contractual Maturities of Financing Obligations	As of September 30, 2021, the aggregate future payments under the CIBC Loan and Credit Agreement (including interest payments) are as follows (in thousands): 2021 (remaining three months) $ 182 2022 5,369 2023 6,078 2024 5,837 2025 1,487 Total 18,953 Less: interest (1,415) Less: unamortized debt discount (148) Term loan and credit agreement $ 17,390

Leases, Lease Commitments and_2

Leases, Lease Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Operating Lease Cost and Additional Information	Operating lease cost consists of the following (in thousands): Nine months ended September 30, 2021 2020 Operating lease cost $ 2,117 $ 1,322 Short-term lease cost 13 9 Variable lease cost 484 227 Total lease cost $ 2,614 $ 1,558 The following table summarizes additional information related to the Company’s operating leases (in thousands, except weighted average data): September 30, 2021 December 31, 2020 Right of use asset $ 8,474 $ 8,976 Weighted average remaining lease term (years) 3.41 4.13 Weighted average discount rate (percent) 6.0 6.1 The following table summarizes other supplemental information related to the Company’s operating leases (in thousands): Nine Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities included in cash flows used in operating activities $ 2,127 $ 963 Right-of-use assets obtained in exchange for lease liabilities $ 1,265 $ 3,882
Schedule of Maturity Analysis of Lease Liabilities	The following table summarizes a maturity analysis of the Company’s lease liabilities showing the aggregate lease payments as of September 30, 2021 (in thousands): 2021 (remaining three months) $ 682 2022 2,586 2023 3,342 2024 2,820 2025 1,007 Total minimum lease payments 10,437 Less: Amount of lease payments representing interest 1,051 Present value of future minimum lease payments $ 9,386 Less: Current lease liabilities 1,946 Long-term lease liabilities $ 7,440

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Shares Reserved for Future Issuance	The Company has reserved shares of common stock for future issuances as follows: September 30, December 31, 2021 2020 Common stock options issued and outstanding 2,256,261 2,923,403 Common stock available for future grants 3,782,355 3,233,794 Common stock available for ESPP 932,458 720,000 Total 6,971,074 6,877,197
Schedule of Summary of Stock Option Activity	A summary of stock option activity for the nine months ended September 30, 2021 is set forth below: Outstanding Options Number of Shares Weighted Average Exercise Price Balance, January 1, 2021 2,923,403 $ 4.72 Options granted 421,200 43.79 Options exercised (974,289) 1.77 Options canceled (114,053) 11.26 Balance, September 30, 2021 2,256,261 $ 12.96
Schedule of Options Vested and Expected to Vest	September 30, 2021 Number of Shares Weighted Average Exercise Price Weighted Average Contractual Life (in Years) Options vested 693,952 $ 5.61 6.89 Options vested and expected to vest 2,256,261 $ 12.96 8.31
Schedule of Activity with Respect to Restricted Stock Units	Activity with respect to restricted stock units was as follows: Number of Shares Underlying Outstanding Restricted Stock Weighted Average Grant Date Fair Value Unvested, January 1, 2021 — $ — Granted 467,270 $ 43.40 Vested (20,831) $ 43.40 Canceled (12,751) $ 43.70 Unvested, September 30, 2021 433,688 $ 43.40
Schedule of Total Stock-Based Compensation	Stock-based compensation expense is reflected in the statements of operations and comprehensive loss as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of goods sold $ 154 $ 37 $ 364 $ 67 Research and development 336 63 942 96 Selling, general and administrative 2,448 418 6,212 723 Total $ 2,938 $ 518 $ 7,518 $ 886 The above stock-based compensation expense related to the following equity-based awards (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options and restricted stock units $ 2,672 $ 518 $ 5,231 $ 886 ESPP 266 — 2,287 — Total $ 2,938 $ 518 $ 7,518 $ 886

Net Loss per Share Attributab_2

Net Loss per Share Attributable to Common Stockholders (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss per Share	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders which excludes shares which are legally outstanding, but subject to repurchase by the Company (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator Net loss attributable to common stockholders $ (10,181) $ (3,860) $ (35,655) $ (22,934) Denominator Weighted-average common stock outstanding 36,721,310 2,951,564 36,252,811 2,389,145 Less: weighted-average common shares subject to repurchase (271,911) (136,766) (294,594) (168,411) Weighted-average common shares used to compute basic and diluted net loss per share 36,449,399 2,814,798 35,958,217 2,220,734 Net loss per share attributable to common stockholders, basic and diluted $ (0.28) $ (1.37) $ (0.99) $ (10.33)
Schedule of Potentially Dilutive Securities Outstanding	The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding because such securities have an antidilutive impact due to the Company’s net loss, in common stock equivalent shares: As of September 30, 2021 2020 Convertible preferred stock — 17,797,026 Options to purchase common stock 2,256,268 2,940,930 Unvested early exercised common stock options 258,000 381,387 Unvested restricted stock units 433,688 — Shares committed under ESPP 9,897 — Convertible notes* — 2,561,484 Total 2,957,853 23,680,827 ______________ * At September 30, 2020, the conversion of the 2020 Notes into convertible preferred stock was dependent on the outstanding loan balance including accrued interest and the per share conversion price (see Note 6). Upon closing the IPO, on October 5, 2020, the aggregate outstanding principal amount plus accrued interest under the 2020 Notes converted into 2,561,484 shares of common stock, which was used to determine the number of common stock issuable upon conversion of the 2020 Notes.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Area	The following table sets forth the Company’s revenue by geographic area (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 6,860 $ 5,345 $ 17,716 $ 11,315 Europe, Middle-East and Africa (“EMEA”) 5,608 4,440 14,401 9,703 Asia Pacific 756 827 2,542 1,846 Other International 37 — 49 39 Total $ 13,261 $ 10,612 $ 34,708 $ 22,903
Schedule of Long-lived Assets by Geographic Area	The following table sets forth the Company’s long-lived assets by geographic area (in thousands): September 30, December 31, 2021 2020 United States $ 4,654 $ 1,437 EMEA 44 29 Asia Pacific 5 8 Total $ 4,703 $ 1,474

Correction of Immaterial Miss_2

Correction of Immaterial Misstatement in Prior Period Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2021
Prior Period Adjustment [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The effect of the adjustments described above on the condensed consolidated balance sheet as of March 31, 2021 and June 30, 2021 is as follows (in thousands): March 31, 2021 June 30, 2021 As originally reported Adjustment As Revised As originally reported Adjustment As Revised Current liabilities Accrued liabilities 9,756 467 10,223 10,499 1,052 11,551 Total current liabilities 14,023 467 14,490 16,326 1,052 17,378 Total liabilities 38,655 467 39,122 39,020 1,052 40,072 Accumulated deficit (254,779) (467) (255,246) (267,156) (1,052) (268,208) Total stockholders’ equity 216,615 (467) 216,148 209,920 (1,052) 208,868 The effect of the adjustments described above on the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2021, and three and six months ended June 30, 2021 is as follows (in thousands): Three Months Ended March 31, 2021 As originally reported Adjustment As Revised Operating expenses Selling, general and administrative 15,604 467 16,071 Total operating expenses 18,638 467 19,105 Loss from operations (12,027) (467) (12,494) Net loss before tax (11,978) (467) (12,445) Net loss (12,045) (467) (12,512) Comprehensive loss $ (12,320) $ (467) $ (12,787) Net loss per share attributable to common stockholders, basic and diluted $ (0.34) $ (0.01) $ (0.35) Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 As originally reported Adjustment As Revised As originally reported Adjustment As Revised Operating expenses Selling, general and administrative 17,620 585 18,205 33,224 1,052 34,276 Total operating expenses 21,126 585 21,711 39,764 1,052 40,816 Loss from operations (12,097) (585) (12,682) (24,124) (1,052) (25,176) Net loss before tax (12,297) (585) (12,882) (24,275) (1,052) (25,327) Net loss (12,377) (585) (12,962) (24,422) (1,052) (25,474) Comprehensive loss $ (12,308) $ (585) $ (12,893) $ (24,628) $ (1,052) $ (25,680) Net loss per share attributable to common stockholders, basic and diluted $ (0.34) $ (0.02) $ (0.36) $ (0.68) $ (0.03) $ (0.71) The effect of the adjustments described above on the condensed consolidated statements of cash flow for the three months ended March 31, 2021, and six months ended June 30, 2021 is as follows (in thousands): Three Months Ended March 31, 2021 Six Months Ended June 30, 2021 As originally reported Adjustment As Revised As originally reported Adjustment As Revised Cash flows from operating activities Net loss $ (12,045) $ (467) $ (12,512) $ (24,422) $ (1,052) $ (25,474) Net changes in operating assets and liabilities: Accrued liabilities 1,275 467 1,742 1,874 1,052 2,926 Net cash used in operating activities (9,672) — (9,672) (22,362) — (22,362) The effect of the adjustments described above on the condensed consolidated statements of stockholders’ equity for the three months ended March 31, 2021 and June 30, 2021 is as follows (in thousands): As originally reported Adjustment As Revised Accumulated Deficit Total Stockholders’ Equity (Deficit) Accumulated Deficit Total Stockholders’ Equity (Deficit) Accumulated Deficit Total Stockholders’ Equity (Deficit) Balances at January 1, 2021 $ (242,734) $ 226,134 $ — $ — $ (242,734) $ 226,134 Net loss (12,045) (12,045) (467) (467) (12,512) (12,512) Balances at March 31, 2021 (254,779) 216,615 (467) (467) (255,246) 216,148 Net loss (12,377) (12,377) (585) (585) (12,962) (12,962) Balances at June 30, 2021 $ (267,156) $ 209,920 $ (1,052) $ (1,052) $ (268,208) $ 208,868

Formation and Business of the_2

Formation and Business of the Company (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 05, 2020	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Accrued interest				$ 1,415
Common stock, authorized (in shares)	200,000,000			200,000,000		200,000,000
Common stock, par value (in dollars per share)	$ 0.001			$ 0.001		$ 0.001
Convertible preferred stock, shares authorized (in shares)	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.001			$ 0.001		$ 0.001
Accumulated deficit		$ 255,246	$ 268,208	$ 278,389		$ 242,734
Cash used in operating activities		$ 9,672	$ 22,362	30,677	$ 23,371
Cash, cash equivalents and marketable securities				$ 202,600
2020 Notes Agreement
Subsidiary, Sale of Stock [Line Items]
Aggregate outstanding principal amount of debt	$ 33,000
Accrued interest	800
2020 Notes Agreement | Convertible Debt
Subsidiary, Sale of Stock [Line Items]
Accrued interest	$ 800
2020 Notes Agreement | Convertible Debt | Common Stock
Subsidiary, Sale of Stock [Line Items]
Shares issued upon conversion of debt (in shares)	2,561,484
Conversion price per share (in dollars per share)	$ 13.20
Common Stock
Subsidiary, Sale of Stock [Line Items]
Conversion of convertible securities (in shares)	17,797,026
IPO
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)	11,500,000
Share price (in dollars per share)	$ 19
Proceeds from initial public offering	$ 218,500
Proceeds from initial public offering, net of issuance costs	$ 201,400
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)	1,500,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	Sep. 22, 2020	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock split ratio	0.1
Cash on deposit with foreign banks		$ 4,000						$ 4,000		$ 5,600
Write-off of deferred offering costs										$ 3,000
Deferred offering costs		1,800						1,800
Other comprehensive income (loss) foreign currency translation adjustments		65	$ 66	$ (272)	$ 33	$ (34)	$ 282	(141)	$ 281
Foreign currency transaction gains and (losses)		$ (300)			$ 100			$ (200)	$ (200)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Short-term marketable securities	$ 14,572
U.S. Treasury bonds
Assets:
Short-term marketable securities	4,803
U.S. Government agency bonds
Assets:
Short-term marketable securities	3,513
Corporate bonds
Assets:
Short-term marketable securities	760
Recurring Basis
Assets:
Cash equivalents	234	$ 10,533
Short-term marketable securities	14,572
Total financial assets	14,806	10,533
Recurring Basis | U.S. Treasury bonds
Assets:
Short-term marketable securities	4,803
Recurring Basis | U.S. Government agency bonds
Assets:
Short-term marketable securities	3,513
Recurring Basis | Corporate bonds
Assets:
Short-term marketable securities	760
Recurring Basis | Commercial paper
Assets:
Short-term marketable securities	5,496
Level 1 | Recurring Basis
Assets:
Cash equivalents	234	10,533
Short-term marketable securities	4,803
Total financial assets	5,037	10,533
Level 1 | Recurring Basis | U.S. Treasury bonds
Assets:
Short-term marketable securities	4,803
Level 1 | Recurring Basis | U.S. Government agency bonds
Assets:
Short-term marketable securities	0
Level 1 | Recurring Basis | Corporate bonds
Assets:
Short-term marketable securities	0
Level 1 | Recurring Basis | Commercial paper
Assets:
Short-term marketable securities	0
Level 2 | Recurring Basis
Assets:
Cash equivalents	0	0
Short-term marketable securities	9,769
Total financial assets	9,769	0
Level 2 | Recurring Basis | U.S. Treasury bonds
Assets:
Short-term marketable securities	0
Level 2 | Recurring Basis | U.S. Government agency bonds
Assets:
Short-term marketable securities	3,513
Level 2 | Recurring Basis | Corporate bonds
Assets:
Short-term marketable securities	760
Level 2 | Recurring Basis | Commercial paper
Assets:
Short-term marketable securities	5,496
Level 3 | Recurring Basis
Assets:
Cash equivalents	0	0
Short-term marketable securities	0
Total financial assets	0	0
Level 3 | Recurring Basis | U.S. Treasury bonds
Assets:
Short-term marketable securities	0
Level 3 | Recurring Basis | U.S. Government agency bonds
Assets:
Short-term marketable securities	0
Level 3 | Recurring Basis | Corporate bonds
Assets:
Short-term marketable securities	0
Level 3 | Recurring Basis | Commercial paper
Assets:
Short-term marketable securities	0
Money market funds | Recurring Basis
Assets:
Cash equivalents	234	10,533
Money market funds | Level 1 | Recurring Basis
Assets:
Cash equivalents	234	10,533
Money market funds | Level 2 | Recurring Basis
Assets:
Cash equivalents	0	0
Money market funds | Level 3 | Recurring Basis
Assets:
Cash equivalents	$ 0	$ 0

Fair Value Measurements - Unrea

Fair Value Measurements - Unrealized Gains and Losses and Fair Value (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 14,572,000
Unrealized Losses	0
Unrealized Gains	0
Fair Value	14,572,000
Amounts recognized on the consolidated balance sheet
Short-term marketable securities	11,774,000	$ 0
Long-term marketable securities	2,798,000	0
Marketable securities	14,572,000	$ 0
U.S. Treasury bonds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	4,803,000
Unrealized Losses	0
Unrealized Gains	0
Fair Value	4,803,000
U.S. Government agency bonds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	3,513,000
Unrealized Losses	0
Unrealized Gains	0
Fair Value	3,513,000
Corporate bonds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	760,000
Unrealized Losses	0
Unrealized Gains	0
Fair Value	760,000
Commercial paper
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	5,496,000
Unrealized Losses	0
Unrealized Gains	0
Fair Value	$ 5,496,000

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Oct. 05, 2020	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Marketable securities		$ 14,572,000	$ 0
Accrued interest receivable on marketable securities, less than		100,000
Oxford Finance Loan | Medium-term Notes
Derivative [Line Items]
Payments of debt fees	$ 1,900,000
Success fee derivative liability
Derivative [Line Items]
Success fee amount		$ 1,900,000

Fair Value Measurements - Valua

Fair Value Measurements - Valuation Assumptions (Details) - 2020 Notes Derivative Liability - Valuation Technique, Option Pricing Model	Apr. 17, 2020
Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.002
Current Series G-1 convertible preferred stock value per share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.84
Series G-1 convertible preferred stock volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.344

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Success Fee Derivative Liability
Derivative Liability
Beginning fair value		$ 1,165
Fair value at inception		0
Change in fair value		691
Ending fair value	$ 1,856	1,856
2020 Notes Derivative Liability
Derivative Liability
Beginning fair value		0
Fair value at inception		3,900
Change in fair value	3,300	(3,900)
Ending fair value	$ 0	$ 0

Balance Sheet Components - Cash

Balance Sheet Components - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash	$ 187,841	$ 221,028
Cash equivalents:
Money market funds	234	10,533
Total cash and cash equivalents	$ 188,075	$ 231,561	$ 39,806

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 3,486	$ 3,342
Work in process	708	227
Finished goods	10,791	7,172
Total inventory	$ 14,985	$ 10,741

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 1,690	$ 381
Prepaid insurance	3,140	2,131
VAT receivable	311	339
Other current assets	519	377
Total prepaid expenses and other current assets	$ 5,660	$ 3,228

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 6,842	$ 3,247
Less: accumulated depreciation	(2,139)	(1,773)
Property and equipment, net	4,703	1,474
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,651	1,447
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,714	1,062
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	239	229
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	583	57
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 2,655	$ 452

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense, less than	$ 200,000	$ 100,000	$ 400,000	$ 300,000
Goodwill	2,333,000		2,333,000		$ 2,333,000
Goodwill, accumulated impairment loss	0		0
Goodwill acquired			0	0
Goodwill disposed of			0	0
Goodwill, impairment loss			0
Amortization expense related to intangibles, less than	$ 100,000	$ 100,000	$ 100,000	$ 100,000

Balance Sheet Components - Inta

Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 1,849		$ 1,849		$ 1,849
Accumulated Amortization	(1,541)		(1,541)		(1,449)
Total amortization expense	308		308		400
Amortization expense related to intangibles, less than	100	$ 100	100	$ 100
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,658		1,658		1,658
Accumulated Amortization	(1,382)		(1,382)		(1,299)
Total amortization expense	276		276		359
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	191		191		191
Accumulated Amortization	(159)		(159)		(150)
Total amortization expense	$ 32		$ 32		$ 41

Balance Sheet Components - Futu

Balance Sheet Components - Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021 (remaining three months)	$ 31
2022	123
2023	123
2024	31
Total amortization expense	$ 308	$ 400

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued employee bonuses and commissions	$ 3,253			$ 2,374
Accrued vacation	1,787			1,810
Other accrued personnel related expenses	2,328			1,368
Accrued professional fees	2,840			1,313
Sales taxes, franchise tax and VAT	616			521
Liability for early exercise of stock options	460			629
Accrued inventory purchases	229			57
Other	861			579
Total accrued liabilities	$ 12,374	$ 11,551	$ 10,223	$ 8,651

Long Term Debt And Convertibl_3

Long Term Debt And Convertible Notes - Oxford Finance Loan Narrative (Details) - USD ($)	Oct. 05, 2020	Feb. 20, 2020	Aug. 31, 2014	Sep. 30, 2020	Dec. 31, 2014	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Interest expense on deferred financing and debt issuance costs, less than						$ 89,000	$ 901,000
Medium-term Notes | Oxford Finance Loan
Debt Instrument [Line Items]
Debt instrument, face amount including accordion feature			$ 20,000,000
Proceeds from issuance of debt					$ 15,000,000
Stated interest rate			8.96%
Debt term			5 years
Interest payments term			36 months
Principal and interest payments term			24 months
Final payment, percentage of loan amount due			8.50%
Contingent fee amount, maximum			$ 2,500,000
Payments of debt fees	$ 1,900,000
Repayments on term loan obligations		$ 17,300,000
Extinguishment of debt		15,000,000
Final payment on loan		1,300,000
Fee amount		900,000
Accrued interest		100,000
Loss on extinguishment of debt		$ 400,000
Interest expense on deferred financing and debt issuance costs, less than				$ 0		$ 100,000
Interest expense				$ 0			$ 400,000

Long Term Debt and Convertibl_4

Long Term Debt and Convertible Notes - CIBC Loan Narrative (Details)	Oct. 21, 2021USD ($)	Feb. 20, 2020USD ($)payment	Mar. 31, 2021USD ($)	Apr. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Payment of fees to lender and third parties (less than)							$ 41,000	$ 162,000
Amortization of debt discount and debt issuance costs							$ 89,000	901,000
CIBC Agreement | Medium-term Notes
Debt Instrument [Line Items]
Debt instrument, face amount including accordion feature		$ 32,000,000
Debt term		5 years
Interest payments term		24 months
Principal and interest payments term		36 months
Interest period extension term		36 months
Interest-only period, training period of revenue requirement		3 months
Revenue threshold for interest period extension term option		$ 20,000,000
Fee amount				$ 200,000
Number of periodic payments | payment		36
Payment of fees to lender and third parties (less than)		$ 400,000	$ 100,000
Effective interest rate					4.78%		4.78%
Cash and cash equivalents trigger for revenue requirement (less than)		$ 100,000,000
Minimum percentage of revenue requirement, trailing period of revenue		3 months
Minimum percentage of revenue requirement		80.00%
Unrestricted cash requirement period		4 months
Amortization of debt discount and debt issuance costs					$ 100,000	$ 100,000	$ 100,000	100,000
Interest expense					$ 200,000	$ 200,000	$ 600,000	$ 500,000
CIBC Agreement | Medium-term Notes | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
CIBC Agreement, Tranche A | Medium-term Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt		$ 17,000,000
CIBC Agreement, Tranche B | Medium-term Notes
Debt Instrument [Line Items]
Accordion feature on face amount of debt		8,000,000
Trailing period of revenue				6 months
Revenue threshold for additional borrowing				$ 15,000,000
Gain (Loss) on amendment of debt instrument				$ 0
CIBC Agreement, Tranche B | Medium-term Notes | Subsequent Event
Debt Instrument [Line Items]
Gain (Loss) on amendment of debt instrument	$ 0
CIBC Agreement, Tranche C | Medium-term Notes
Debt Instrument [Line Items]
Accordion feature on face amount of debt		$ 7,000,000
Trailing period of revenue		6 months
Revenue threshold for additional borrowing		$ 20,000,000
CIBC Agreement, Tranche C | Medium-term Notes | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
CIBC Agreement, Tranche B Or Tranche C | Medium-term Notes
Debt Instrument [Line Items]
Structuring fee percentage				1.00%

Long Term Debt and Convertibl_5

Long Term Debt and Convertible Notes - CIBC Loan Components Of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Term loan	$ 18,953
Less: debt issuance costs	(148)
Term loan and credit agreement	17,390
CIBC Agreement | Medium-term Notes
Debt Instrument [Line Items]
Term loan	17,000	$ 17,000
Less: debt issuance costs	(147)	(196)
Term loan and credit agreement	$ 16,853	$ 16,804

Long Term Debt and Convertibl_6

Long Term Debt and Convertible Notes - Credit Agreement and Paycheck Protection Program Narrative (Details) - Line of Credit - COVID-19 Credit Agreement - Pulmonx International Sarl SFr in Millions	1 Months Ended			9 Months Ended
	May 31, 2020CHF (SFr)	May 31, 2020USD ($)	Apr. 30, 2020CHF (SFr)	Sep. 30, 2021USD ($)	Apr. 30, 2020USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity			SFr 0.5		$ 500,000
Proceeds from line of credit	SFr 0.5	$ 500,000
Debt term			60 months
Repayments on credit agreement				$ 0

Long Term Debt and Convertibl_7

Long Term Debt and Convertible Notes - 2020 Notes Narrative (Details) - USD ($)	Oct. 05, 2020	Apr. 30, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Proceeds from convertible debt				$ 0	$ 32,950,000
Embedded derivative liability		$ 3,900,000
Accrued interest				1,415,000
2020 Notes Derivative Liability
Debt Instrument [Line Items]
Change in fair value			$ 3,300,000		(3,900,000)
2020 Notes Agreement
Debt Instrument [Line Items]
Aggregate outstanding principal amount of debt	$ 33,000,000
Accrued interest	800,000
Convertible Debt | 2020 Notes Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 66,000,000
Remaining borrowing capacity				$ 33,000,000
Accrued interest	$ 800,000
Interest expense			$ 900,000		$ 1,600,000
Convertible Debt | 2020 Notes Agreement | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Convertible Debt | 2020 Notes Agreement | Debt Instrument, Convertible, Conversion Feature, Scenario Two
Debt Instrument [Line Items]
Conversion price per share (in dollars per share)		$ 13.20
Convertible Debt | 2020 Notes Agreement | Common Stock
Debt Instrument [Line Items]
Shares issued upon conversion of debt (in shares)	2,561,484
Conversion price per share (in dollars per share)	$ 13.20
Convertible Debt | 2020 Notes Agreement, Tranche One
Debt Instrument [Line Items]
Proceeds from convertible debt		$ 33,000,000
Convertible Debt | 2020 Notes Agreement, Tranche Two | Maximum
Debt Instrument [Line Items]
Remaining borrowing capacity		33,000,000
Convertible Debt | 2020 Notes Agreement Over Allotment Option
Debt Instrument [Line Items]
Maximum draw amount		$ 5,000,000

Long Term Debt and Convertibl_8

Long Term Debt and Convertible Notes - Contractual Maturities of Financing Obligations (Details) $ in Thousands	Sep. 30, 2021USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2021 (remaining three months)	$ 182
2022	5,369
2023	6,078
2024	5,837
2025	1,487
Total	18,953
Less: interest	(1,415)
Less: unamortized debt discount	(148)
Term loan and credit agreement	$ 17,390

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 0.2	$ 0.1	$ 0.2
Revenue recognized	$ 0.1	$ 0.2

Leases, Lease Commitments and_3

Leases, Lease Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Sep. 30, 2020	Aug. 31, 2020	Apr. 30, 2020	Dec. 31, 2013
Lessee, Lease, Description [Line Items]
Lease renewal term		5 years
Monthly base rent		$ 0.1
Annual increase rate		3.50%
Tenant improvement allowance, receivable upon lease renewal		$ 0.2
Option to terminate, notice period				12 months
Sublease term	4 years		3 years
Sublease, option to terminate, notice period			180 days
Sublease, period for option to terminate			18 months
Sublease monthly rent	$ 0.1		$ 0.1
Sublease, expense, annual increase rate	3.50%		3.50%
Sublease, tenant improvement allowance, receivable upon lease renewal	$ 0.7
Sublease renewal term	12 months
Office Facilities
Lessee, Lease, Description [Line Items]
Lease term				5 years

Leases, Lease Commitments and_4

Leases, Lease Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease cost	$ 2,117	$ 1,322
Short-term lease cost	13	9
Variable lease cost	484	227
Total lease cost	$ 2,614	$ 1,558

Leases, Lease Commitments and_5

Leases, Lease Commitments and Contingencies - Maturity Analysis of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (remaining three months)	$ 682
2022	2,586
2023	3,342
2024	2,820
2025	1,007
Total minimum lease payments	10,437
Less: Amount of lease payments representing interest	1,051
Present value of future minimum lease payments	9,386
Less: Current lease liabilities	1,946	$ 2,238
Long-term lease liabilities	$ 7,440	$ 7,618

Leases, Lease Commitments and_6

Leases, Lease Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Right of use asset	$ 8,474	$ 8,976
Weighted average remaining lease term (years)	3 years 4 months 28 days	4 years 1 month 17 days
Weighted average discount rate (percent)	6.00%	6.10%

Leases, Lease Commitments and_7

Leases, Lease Commitments and Contingencies - Other Supplemental Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities included in cash flows used in operating activities	$ 2,127	$ 963
Right-of-use assets obtained in exchange for lease liabilities	$ 1,265	$ 3,882

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 44	$ 49	$ 191	$ 192

Warrants for Convertible Pref_2

Warrants for Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended		3 Months Ended
	Feb. 29, 2020	Feb. 28, 2020	Mar. 31, 2020	Sep. 30, 2021	Dec. 31, 2020
Warrants and Rights Note Disclosure [Abstract]
Issuance of convertible preferred stock (in shares)	213,876		213,876
Convertible securities, exercise price per share (in dollars per share)		$ 10.57
Proceeds from stock issued		$ 2,300	$ 2,260
Warrants expired, unexercised (in shares)		1,415
Warrants outstanding (in shares)				0	0

Convertible Preferred Stock (De

Convertible Preferred Stock (Details) - shares	Oct. 05, 2020	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock, issued (in shares)		0	0
Preferred stock, outstanding (in shares)		0	0
Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)		0	0
Preferred stock, outstanding (in shares)		0	0
Common Stock
Class of Stock [Line Items]
Conversion of convertible securities (in shares)	17,797,026

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)vote$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)vote$ / sharesshares	Sep. 30, 2020USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares	Oct. 05, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, authorized (in shares) | shares	200,000,000		200,000,000		200,000,000	200,000,000
Dividends declared			$ 0
Number of votes for each share of common stock held | vote	1		1
Options outstanding, weighted average exercise price (in dollars per share) (in dollars per share) | $ / shares	$ 12.96		$ 12.96		$ 4.72
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 12.96		$ 12.96
Options outstanding, aggregate intrinsic value	$ 55,600,000		$ 55,600,000
Options exercisable, aggregate intrinsic value	55,600,000		55,600,000
Options vested and expenses to vest, intrinsic value	21,200,000		$ 21,200,000
Repurchase of early exercised common stock options (in shares) | shares			12,945	10,000
Common stock, repurchased value (less than)			$ 100,000	$ 100,000
Aggregate exercise price of shares subject to repurchase	500,000		500,000		$ 600,000
Unrecognized compensation costs	36,000,000		36,000,000
Cost Of Goods And Services Sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation capitalized	200,000		400,000
Inventory, Net
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation capitalized	200,000	$ 0	$ 800,000	$ 0
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Shares subject to repurchase (in shares) | shares			258,000		355,677
Stock Options And Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period for recognition of compensation costs			3 years 4 months 24 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-option unrecognized compensation costs	$ 200,000		$ 200,000
Weighted-average period for recognition of compensation costs			4 months 24 days

Stockholders' Equity - Shares R

Stockholders' Equity - Shares Reserved for Future Issuance (Details) - shares	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	6,971,074	6,877,197
Common stock options issued and outstanding
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	2,256,261	2,923,403
Common stock available for future grants
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	3,782,355	3,233,794
Common stock available for ESPP
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	932,458	720,000

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares
Balance, beginning of period (in shares) | shares	2,923,403
Options granted (in shares) | shares	421,200
Options exercised (in shares) | shares	(974,289)
Options canceled (in shares) | shares	(114,053)
Balance, end of period (in shares) | shares	2,256,261
Weighted Average Exercise Price
Balance, beginning of period (in dollars per share) | $ / shares	$ 4.72
Options granted (in dollars per share) | $ / shares	43.79
Options exercised (in dollars per share) | $ / shares	1.77
Options canceled (in dollars per share) | $ / shares	11.26
Balance, end of period (in dollars per share) | $ / shares	$ 12.96

Stockholders' Equity - Options

Stockholders' Equity - Options Vested and Expected to Vest (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares
Options vested (in shares) | shares	693,952
Options vested and expected to vest (in shares) | shares	2,256,261
Weighted Average Exercise Price
Options vested (in dollars per share) | $ / shares	$ 5.61
Options vested and expected to vest (in dollars per share) | $ / shares	$ 12.96
Weighted Average Contractual Life (in Years)
Options vested	6 years 10 months 20 days
Options vested and expected to vest	8 years 3 months 21 days

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares Underlying Outstanding Restricted Stock
Unvested, beginning of period (in shares) | shares	0
Granted (in shares) | shares	467,270
Vested (in shares) | shares	(20,831)
Canceled (in shares) | shares	(12,751)
Unvested, end of period (in shares) | shares	433,688
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	43.40
Vested (in shares) | $ / shares	43.40
Canceled (in shares) | $ / shares	43.70
Unvested, end of period (in dollars per share) | $ / shares	$ 43.40

Stockholders' Equity - Total St

Stockholders' Equity - Total Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,938	$ 518	$ 7,518	$ 886
Stock options and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,672	518	5,231	886
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	266	0	2,287	0
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	154	37	364	67
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	336	63	942	96
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,448	$ 418	$ 6,212	$ 723

Net Loss per Share Attributab_3

Net Loss per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Numerator
Net loss attributable to common stockholders, basic	$ (10,181)			$ (3,860)		$ (35,655)	$ (22,934)
Net loss attributable to common stockholders, diluted	$ (10,181)			$ (3,860)		$ (35,655)	$ (22,934)
Denominator
Weighted-average common stock outstanding (in shares)	36,721,310			2,951,564		36,252,811	2,389,145
Less: weighted-average common shares subject to repurchase (in shares)	(271,911)			(136,766)		(294,594)	(168,411)
Weighted-average common shares used to compute, basic net loss per share (in shares)	36,449,399			2,814,798		35,958,217	2,220,734
Weighted-average common shares used to compute, diluted net loss per share (in shares)	36,449,399			2,814,798		35,958,217	2,220,734
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.28)	$ (0.36)	$ (0.35)	$ (1.37)	$ (0.71)	$ (0.99)	$ (10.33)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.28)	$ (0.36)	$ (0.35)	$ (1.37)	$ (0.71)	$ (0.99)	$ (10.33)

Net Loss per Share Attributab_4

Net Loss per Share Attributable to Common Stockholders - Excluded Potentially Dilutive Securities Outstanding (Details) - shares	Oct. 05, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		2,957,853	23,680,827
2020 Notes Agreement | Convertible Debt | Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued upon conversion of debt (in shares)	2,561,484
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		0	17,797,026
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		2,256,268	2,940,930
Unvested early exercised common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		258,000	381,387
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		433,688	0
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		9,897	0
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)		0	2,561,484

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Concentration Risk [Line Items]
Number of reportable segments			1
Number of operating segments			1
GERMANY | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%	16.00%	13.00%	18.00%
FRANCE | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	9.00%	10.00%	9.00%	9.00%

Segment Information - Revenue b

Segment Information - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 13,261	$ 10,612	$ 34,708	$ 22,903
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	6,860	5,345	17,716	11,315
Europe, Middle-East and Africa (“EMEA”)
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	5,608	4,440	14,401	9,703
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	756	827	2,542	1,846
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 37	$ 0	$ 49	$ 39

Segment Information - Long-Live

Segment Information - Long-Lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 4,703	$ 1,474
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	4,654	1,437
Europe, Middle-East and Africa (“EMEA”)
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	44	29
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 5	$ 8

Correction of Immaterial Miss_3

Correction of Immaterial Misstatement in Prior Period Financial Statements - Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Current liabilities
Accrued liabilities	$ 12,374	$ 11,551	$ 10,223	$ 8,651
Total current liabilities	22,217	17,378	14,490	12,526
Total liabilities	43,990	40,072	39,122	37,574
Accumulated deficit	(278,389)	(268,208)	(255,246)	(242,734)
Total stockholders’ equity	$ 202,828	208,868	216,148	226,134	$ (206,889)	$ (205,765)	$ (194,042)	$ (187,378)
As originally reported
Current liabilities
Accrued liabilities		10,499	9,756
Total current liabilities		16,326	14,023
Total liabilities		39,020	38,655
Accumulated deficit		(267,156)	(254,779)
Total stockholders’ equity		209,920	216,615	226,134
Adjustment
Current liabilities
Accrued liabilities		1,052	467
Total current liabilities		1,052	467
Total liabilities		1,052	467
Accumulated deficit		(1,052)	(467)
Total stockholders’ equity		$ (1,052)	$ (467)	$ 0

Correction of Immaterial Miss_4

Correction of Immaterial Misstatement in Prior Period Financial Statements - Operations and Comprehensive Loss (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Operating expenses
Selling, general and administrative	$ 16,686	$ 18,205	$ 16,071	$ 10,813			$ 34,276	$ 50,962	$ 32,114
Total operating expenses	19,501	21,711	19,105	12,810			40,816	60,317	37,102
Loss from operations	(9,762)	(12,682)	(12,494)	(5,348)			(25,176)	(34,938)	(22,978)
Net loss before tax	(10,137)	(12,882)	(12,445)	(3,811)			(25,327)	(35,464)	(22,742)
Net loss	(10,181)	(12,962)	(12,512)	(3,860)	$ (11,911)	$ (7,163)	(25,474)	(35,655)	(22,934)
Comprehensive loss	$ (10,116)	$ (12,893)	$ (12,787)	$ (3,827)			$ (25,680)	$ (35,796)	$ (22,659)
Net loss per share attributable common stockholders, basic (in dollars per share)	$ (0.28)	$ (0.36)	$ (0.35)	$ (1.37)			$ (0.71)	$ (0.99)	$ (10.33)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.28)	$ (0.36)	$ (0.35)	$ (1.37)			$ (0.71)	$ (0.99)	$ (10.33)
As originally reported
Operating expenses
Selling, general and administrative		$ 17,620	$ 15,604				$ 33,224
Total operating expenses		21,126	18,638				39,764
Loss from operations		(12,097)	(12,027)				(24,124)
Net loss before tax		(12,297)	(11,978)				(24,275)
Net loss		(12,377)	(12,045)				(24,422)
Comprehensive loss		$ (12,308)	$ (12,320)				$ (24,628)
Net loss per share attributable common stockholders, basic (in dollars per share)		$ (0.34)	$ (0.34)				$ (0.68)
Net loss per share attributable to common stockholders, diluted (in dollars per share)		$ (0.34)	$ (0.34)				$ (0.68)
Adjustment
Operating expenses
Selling, general and administrative		$ 585	$ 467				$ 1,052
Total operating expenses		585	467				1,052
Loss from operations		(585)	(467)				(1,052)
Net loss before tax		(585)	(467)				(1,052)
Net loss		(585)	(467)				(1,052)
Comprehensive loss		$ (585)	$ (467)				$ (1,052)
Net loss per share attributable common stockholders, basic (in dollars per share)		$ (0.02)	$ (0.01)				$ (0.03)
Net loss per share attributable to common stockholders, diluted (in dollars per share)		$ (0.02)	$ (0.01)				$ (0.03)

Correction of Immaterial Miss_5

Correction of Immaterial Misstatement in Prior Period Financial Statements - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (10,181)	$ (12,962)	$ (12,512)	$ (3,860)	$ (11,911)	$ (7,163)	$ (25,474)	$ (35,655)	$ (22,934)
Net changes in operating assets and liabilities:
Accrued liabilities			1,742				2,926	3,291	310
Net cash used in operating activities			(9,672)				(22,362)	$ (30,677)	$ (23,371)
As originally reported
Cash flows from operating activities
Net loss		(12,377)	(12,045)				(24,422)
Net changes in operating assets and liabilities:
Accrued liabilities			1,275				1,874
Net cash used in operating activities			(9,672)				(22,362)
Adjustment
Cash flows from operating activities
Net loss		$ (585)	(467)				(1,052)
Net changes in operating assets and liabilities:
Accrued liabilities			467				1,052
Net cash used in operating activities			$ 0				$ 0

Correction of Immaterial Miss_6

Correction of Immaterial Misstatement in Prior Period Financial Statements - Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 208,868	$ 216,148	$ 226,134	$ (205,765)	$ (194,042)	$ (187,378)	$ 226,134	$ 226,134	$ (187,378)
Net loss	(10,181)	(12,962)	(12,512)	(3,860)	(11,911)	(7,163)	(25,474)	(35,655)	(22,934)
Ending balance	202,828	208,868	216,148	(206,889)	(205,765)	(194,042)	208,868	202,828	(206,889)
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(268,208)	(255,246)	(242,734)	(229,577)	(217,666)	(210,503)	(242,734)	(242,734)	(210,503)
Net loss	(10,181)	(12,962)	(12,512)	(3,860)	(11,911)	(7,163)
Ending balance	(278,389)	(268,208)	(255,246)	$ (233,437)	$ (229,577)	$ (217,666)	(268,208)	(278,389)	$ (233,437)
As originally reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	209,920	216,615	226,134				226,134	226,134
Net loss		(12,377)	(12,045)				(24,422)
Ending balance		209,920	216,615				209,920
As originally reported | Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(267,156)	(254,779)	(242,734)				(242,734)	(242,734)
Net loss		(12,377)	(12,045)
Ending balance		(267,156)	(254,779)				(267,156)
Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,052)	(467)	0				0	0
Net loss		(585)	(467)				(1,052)
Ending balance		(1,052)	(467)				(1,052)
Adjustment | Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (1,052)	(467)	0				0	$ 0
Net loss		(585)	(467)
Ending balance		$ (1,052)	$ (467)				$ (1,052)

Subsequent Events (Details)

Subsequent Events (Details) - Restated Loan And Security Agreement - Subsequent Event	Oct. 21, 2021
Minimum
Subsequent Event [Line Items]
Debt term	24 months
Maximum
Subsequent Event [Line Items]
Debt term	36 months