Standard BioTools (LAB) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-34180
Entity Registrant Name	STANDARD BIOTOOLS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0513190
Entity Address, Address Line One	2 Tower Place
Entity Address, Address Line Two	Suite 2000
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	266-6000
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	LAB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		78,964,770
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001162194
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 142,304	$ 81,309
Short-term investments	0	84,475
Accounts receivable (net of allowances of $331 and $592 at June 30, 2023 and December 31, 2022, respectively)	15,119	17,280
Inventories, net	22,080	21,473
Prepaid expenses and other current assets	3,567	4,278
Total current assets	183,070	208,815
Property and equipment, net	24,522	25,652
Operating lease right-of-use asset, net	32,194	33,883
Other non-current assets	2,754	3,109
Developed technology, net	7,000	12,600
Goodwill	106,287	106,251
Total assets	355,827	390,310
Current liabilities:
Accounts payable	6,089	7,914
Accrued compensation and related benefits	9,765	9,153
Operating lease liabilities, current	3,912	3,682
Deferred revenue, current	11,685	10,792
Deferred grant income, current	3,630	3,644
Other accrued liabilities	7,176	6,175
Term loan, current	4,583	2,083
Total current liabilities	46,840	43,443
Convertible Notes Payable, Noncurrent	54,853	54,615
Term loan, non-current	5,809	8,194
Deferred tax liability	1,049	1,055
Operating lease liabilities, non-current	32,231	34,081
Deferred revenue, non-current	3,790	3,816
Deferred grant income, non-current	12,546	14,359
Other non-current liabilities	843	961
Total liabilities	157,961	160,524
Commitments and contingencies (Note 7)
Mezzanine equity:
Redeemable preferred stock: $0.001 par value; 256 shares authorized, issued and outstanding at June 30, 2023 and December 31, 2022; aggregate liquidation preference of $255,559 at June 30, 2023 and December 31, 2022	311,253	311,253
Stockholders’ deficit:
Preferred stock: $0.001 par value, 9,744 shares authorized at June 30, 2023 and December 31, 2022; no shares issued and outstanding at June 30, 2023 and December 31, 2022	0	0
Common stock: $0.001 par value, 400,000 shares authorized at June 30, 2023 and December 31, 2022; 82,002 and 79,904 shares issued at June 30, 2023 and December 31, 2022, respectively; 79,121 and 79,482 shares outstanding at June 30, 2023 and December 31, 2022, respectively	81	80
Additional paid-in capital	853,466	847,008
Accumulated other comprehensive loss	(1,551)	(1,896)
Accumulated deficit	(959,979)	(926,096)
Treasury stock at cost: 2,881 and 422 shares at June 30, 2023 and December 31, 2022, respectively	(5,404)	(563)
Total stockholders’ deficit	(113,387)	(81,467)
Total liabilities, mezzanine equity and stockholders’ deficit	$ 355,827	$ 390,310

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net of allowances	$ 331	$ 592
Redeemable preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Redeemable preferred stock, shares authorized (in shares)	256,000	256,000
Redeemable preferred stock, shares issued (in shares)	256,000	256,000
Redeemable preferred stock, shares outstanding (in shares)	256,000	256,000
Redeemable preferred stock, aggregate liquidation preference	$ 255,559	$ 255,559
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	9,744,000	9,744,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	82,002,000	79,904,000
Common stock, shares outstanding (in shares)	79,121,000	79,482,000
Treasury stock (in shares)	2,881,000	422,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Total revenue	$ 27,666	$ 18,777	$ 52,785	$ 45,281
Cost of revenue:
Total cost of revenue	14,064	14,350	26,846	28,617
Gross profit	13,602	4,427	25,939	16,664
Operating expenses:
Research and development	6,184	12,606	12,669	21,471
Selling, general and administrative	22,600	30,084	43,895	59,569
Restructuring and related charges	2,267	300	3,417	1,690
Total operating expenses	31,051	42,990	59,981	82,730
Loss from operations	(17,449)	(38,563)	(34,042)	(66,066)
Interest expense	(1,129)	(1,062)	(2,246)	(2,092)
Loss on forward sale of Series B Preferred Stock	0	(22,289)	0	(60,081)
Loss on Bridge Loans	0	(3,064)	0	(13,719)
Other income (expense), net	1,839	(174)	2,969	(56)
Loss before income taxes	(16,739)	(65,152)	(33,319)	(142,014)
Income tax benefit (expense)	(301)	1,613	(564)	2,187
Net loss	$ (17,040)	$ (63,539)	$ (33,883)	$ (139,827)
Net loss per share, basic (in dollars per share)	$ (0.22)	$ (0.82)	$ (0.43)	$ (1.81)
Net loss per share, diluted (in dollars per share)	$ (0.22)	$ (0.82)	$ (0.43)	$ (1.81)
Shares used in computing net loss per share, basic (in shares)	78,669	77,821	78,873	77,430
Shares used in computing net loss per share, diluted (in shares)	78,669	77,821	78,873	77,430
Product revenue
Revenue:
Total revenue	$ 21,665	$ 12,219	$ 39,103	$ 32,223
Cost of revenue:
Total cost of revenue	11,883	12,738	21,873	25,077
Service revenue
Revenue:
Total revenue	5,821	5,806	12,702	11,950
Cost of revenue:
Total cost of revenue	2,181	1,612	4,973	3,540
Other revenue
Revenue:
Total revenue	$ 180	$ 752	$ 980	$ 1,108

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (17,040)	$ (63,539)	$ (33,883)	$ (139,827)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(327)	(485)	(157)	(635)
Net change in unrealized gain (loss) on investments	104	(711)	502	(711)
Other comprehensive income (loss), net of tax	(223)	(1,196)	345	(1,346)
Comprehensive loss	$ (17,263)	$ (64,735)	$ (33,538)	$ (141,173)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accum. Other Comp. Loss	Accum. Deficit	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021		76,919,000
Beginning balance at Dec. 31, 2021	$ 94,596	$ 77	$ 831,424	$ (907)	$ (735,998)	$ 0
Treasury stock, beginning balance (in shares) at Dec. 31, 2021						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of shares withheld for taxes, and other (in shares)		278,000
Issuance of restricted stock, net of shares withheld for taxes, and other	(89)		(89)
Issuance of common stock from option exercises ( in shares)		2,000
Issuance of common stock from option exercises	2		2
Stock-based compensation expense	4,042		4,042
Net loss	(76,288)				(76,288)
Other comprehensive income (loss), net of tax	(150)			(150)
Ending balance (in shares) at Mar. 31, 2022		77,199,000
Ending balance at Mar. 31, 2022	22,113	$ 77	835,379	(1,057)	(812,286)	$ 0
Treasury stock, ending balance (in shares) at Mar. 31, 2022						0
Beginning balance (in shares) at Dec. 31, 2021		76,919,000
Beginning balance at Dec. 31, 2021	94,596	$ 77	831,424	(907)	(735,998)	$ 0
Treasury stock, beginning balance (in shares) at Dec. 31, 2021						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(139,827)
Other comprehensive income (loss), net of tax	(1,346)
Ending balance (in shares) at Jun. 30, 2022		78,654,000
Ending balance at Jun. 30, 2022	(37,454)	$ 79	840,545	(2,253)	(875,825)	$ 0
Treasury stock, ending balance (in shares) at Jun. 30, 2022						0
Beginning balance (in shares) at Mar. 31, 2022		77,199,000
Beginning balance at Mar. 31, 2022	22,113	$ 77	835,379	(1,057)	(812,286)	$ 0
Treasury stock, beginning balance (in shares) at Mar. 31, 2022						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of shares withheld for taxes, and other (in shares)		1,119,000
Issuance of restricted stock, net of shares withheld for taxes, and other	(88)	$ 1	(89)
Issuance of common stock under ESPP (shares)		309,000
Issuance of common stock under ESPP	497	$ 1	496
Issuance of common stock from option exercises ( in shares)		27,000
Issuance of common stock from option exercises	96		96
Stock-based compensation expense	4,663		4,663
Net loss	(63,539)				(63,539)
Other comprehensive income (loss), net of tax	(1,196)			(1,196)
Ending balance (in shares) at Jun. 30, 2022		78,654,000
Ending balance at Jun. 30, 2022	$ (37,454)	$ 79	840,545	(2,253)	(875,825)	$ 0
Treasury stock, ending balance (in shares) at Jun. 30, 2022						0
Beginning balance (in shares) at Dec. 31, 2022	79,482,000	79,904,000
Beginning balance at Dec. 31, 2022	$ (81,467)	$ 80	847,008	(1,896)	(926,096)	$ (563)
Treasury stock, beginning balance (in shares) at Dec. 31, 2022	(422,000)					(422,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of shares withheld for taxes, and other (in shares)		420,000
Issuance of restricted stock, net of shares withheld for taxes, and other	$ (93)		(93)
Stock-based compensation expense	3,148		3,148
Repurchase of common stock (in shares)						(1,250,000)
Repurchase of common stock	(2,466)					$ (2,466)
Net loss	(16,843)				(16,843)
Other comprehensive income (loss), net of tax	568			568
Ending balance (in shares) at Mar. 31, 2023		80,324,000
Ending balance at Mar. 31, 2023	$ (97,153)	$ 80	850,063	(1,328)	(942,939)	$ (3,029)
Treasury stock, ending balance (in shares) at Mar. 31, 2023						(1,672,000)
Beginning balance (in shares) at Dec. 31, 2022	79,482,000	79,904,000
Beginning balance at Dec. 31, 2022	$ (81,467)	$ 80	847,008	(1,896)	(926,096)	$ (563)
Treasury stock, beginning balance (in shares) at Dec. 31, 2022	(422,000)					(422,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (33,883)
Other comprehensive income (loss), net of tax	$ 345
Ending balance (in shares) at Jun. 30, 2023	79,121,000	82,002,000
Ending balance at Jun. 30, 2023	$ (113,387)	$ 81	853,466	(1,551)	(959,979)	$ (5,404)
Treasury stock, ending balance (in shares) at Jun. 30, 2023	(2,881,000)					(2,881,000)
Beginning balance (in shares) at Mar. 31, 2023		80,324,000
Beginning balance at Mar. 31, 2023	$ (97,153)	$ 80	850,063	(1,328)	(942,939)	$ (3,029)
Treasury stock, beginning balance (in shares) at Mar. 31, 2023						(1,672,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of shares withheld for taxes, and other (in shares)		1,410,000
Issuance of restricted stock, net of shares withheld for taxes, and other	(36)	$ 1	(37)
Issuance of common stock under ESPP (shares)		268,000
Issuance of common stock under ESPP	326		326
Stock-based compensation expense	$ 3,114		3,114
Repurchase of common stock (in shares)	(1,208,200)					(1,209,000)
Repurchase of common stock	$ (2,375)					$ (2,375)
Net loss	(17,040)				(17,040)
Other comprehensive income (loss), net of tax	$ (223)			(223)
Ending balance (in shares) at Jun. 30, 2023	79,121,000	82,002,000
Ending balance at Jun. 30, 2023	$ (113,387)	$ 81	$ 853,466	$ (1,551)	$ (959,979)	$ (5,404)
Treasury stock, ending balance (in shares) at Jun. 30, 2023	(2,881,000)					(2,881,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net loss	$ (33,883)	$ (139,827)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on forward sale of Series B Preferred Stock	0	60,081
Loss on Bridge Loans	0	13,719
Stock-based compensation expense	6,262	8,705
Amortization of developed technology	5,600	5,928
Depreciation and amortization	1,688	1,878
Provision for excess and obsolete inventory	572	4,597
Impairment of InstruNor developed technology intangible	0	3,526
Amortization of debt discounts, premiums and issuance costs	410	423
Other non-cash items	(168)	176
Changes in assets and liabilities:
Accounts receivable, net	2,238	7,277
Inventories, net	(1,939)	(6,484)
Prepaid expenses and other assets	426	(1,304)
Accounts payable	(1,774)	(1,712)
Accrued compensation and related benefits	659	3,598
Deferred revenue	937	(1,557)
Other liabilities	1,158	(4,602)
Net cash used in operating activities	(17,814)	(45,578)
Investing activities
Purchases of short-term investments	(6,836)	(137,302)
Proceeds from sales and maturities of investments	91,964	0
Purchases of property and equipment	(1,848)	(1,806)
Net cash provided by (used in) investing activities	83,280	(139,108)
Financing activities
Proceeds from bridge loans	0	25,000
Proceeds from issuance of Series B Preferred Stock	0	225,000
Repayment of advances under revolving credit facility	0	(6,838)
Payment of equity issuance costs	0	(12,547)
Repurchase of common stock	(4,841)	0
Proceeds from ESPP stock issuance	326	497
Payments for taxes related to net share settlement of equity awards and other	(127)	(79)
Net cash provided by (used in) financing activities	(4,642)	231,033
Effect of foreign exchange rate fluctuations on cash and cash equivalents	(49)	(437)
Net increase in cash, cash equivalents and restricted cash	60,775	45,910
Cash, cash equivalents and restricted cash at beginning of period	82,324	29,467
Cash, cash equivalents and restricted cash at end of period	143,099	75,377
Supplemental disclosures of cash flow information
Cash paid for interest	1,919	1,679
Cash paid for income taxes, net of refunds	512	638
Non-cash right-of-use assets and lease liabilities	211	0
Asset retirement obligations	$ 740	$ 717

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Standard BioTools Inc. (Standard BioTools or the Company), formerly known as Fluidigm Corporation, is a Delaware corporation headquartered in South San Francisco, California. The Company has an established portfolio of essential, standardized next-generation technologies that help biomedical researchers develop medicines faster and better. As a leading solutions provider, the Company endeavors to provide reliable and repeatable insights in health and disease using its proprietary mass cytometry and microfluidics technologies that help transform scientific discoveries into better patient outcomes. Standard BioTools works with leading academic, government, pharmaceutical, biotechnology, plant and animal research, and clinical laboratories worldwide, focusing on the most pressing needs in translational and clinical research, including oncology, immunology, and immunotherapy. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (U.S. GAAP). As of June 30, 2023, the Company had wholly owned subsidiaries in Singapore, Canada, the Netherlands, Japan, France, Italy, the United Kingdom, China, Germany and Norway. All subsidiaries, except for Singapore, use their local currency as their functional currency. The Singapore subsidiary uses the U.S. dollar as its functional currency. All intercompany transactions and balances have been eliminated in consolidation. These interim condensed consolidated financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. The condensed consolidated results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of results to be expected for the full year or for any other year or interim period. The accompanying condensed consolidated financial statements should be read in conjunction with the audited financial statements and the related notes for the year ended December 31, 2022 included in the Annual Report on Form 10-K, filed with the Security Exchange Commission (SEC) on March 14, 2023. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience, the current economic environment and on various other assumptions believed to be reasonable, which together form the basis for making judgments about the carrying values of assets and liabilities. These accounting matters included but were not limited to inventory and related reserves; the carrying value of goodwill and other long-lived assets; and the potential outcome of uncertain tax positions that have been recognized in the Company’s consolidated financial statements or tax returns. The Company also uses significant judgment in determining the fair value of financial instruments, including debt and equity instruments. Actual results could differ materially from these estimates and could have a material adverse effect on the Company’s condensed consolidated financial statements. Recent Accounti ng Pronouncements From time to time, new accounting standards are issued by the Financial Accounting Standards Board or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. Reclassification Certain amounts in the condensed consolidated financial statements have been reclassified from their original presentation to conform to current year presentation.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The Company’s basic and diluted net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding for the period. Restricted share units (RSUs), performance stock awards (PSUs), and options to purchase the Company’s common stock are considered to be potentially dilutive common shares. The following potentially dilutive common shares (in thousands) were excluded from the computations of diluted net loss per share for the periods presented because including them would have been anti-dilutive: Six Months Ended June 30, 2023 2022 RSUs, PSUs, and stock options 14,366 14,955 Series B Preferred Stock 75,164 75,164 2019 Notes (1) 18,966 18,966 2014 Notes 10 10 Total 108,506 109,095 (1) The conversion rate is subject to adjustment upon the occurrence of certain specified events, including voluntary conversion of the 2019 Notes prior to the Company’s exercise of the Issuer’s Conversion Option or in connection with a make-whole fundamental change, entitling the holders, under certain circumstances, to a make-whole premium in the form of an increase in the conversion rate determined based on the effective date and current price of the Company’s common stock, subject to a minimum and maximum price per share. The maximum number of additional shares of common stock that may be issued under the make-whole premium is 4,741,374 shares. Refer to Note 6 for additional information on the 2019 Notes.

Revenue and Geographic Area

Revenue and Geographic Area	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue and Geographic Area	Revenue and Geographic Area Disaggregation of Revenue by Product Type and Geographic Area The following tables present revenue based upon product type and the geographic regions of the Company’s customers’ facilities (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Instruments $ 11,587 $ 2,661 $ 17,510 $ 10,184 Consumables 10,078 9,558 21,593 22,039 Total product revenue 21,665 12,219 39,103 32,223 Service revenue 5,821 5,806 12,702 11,950 Product and service revenue 27,486 18,025 51,805 44,173 Other revenue 180 752 980 1,108 Total revenue $ 27,666 $ 18,777 $ 52,785 $ 45,281 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Americas $ 10,448 $ 9,433 $ 22,110 $ 22,363 Europe, Middle East and Africa (EMEA) 11,436 5,669 19,273 14,278 Asia-Pacific 5,782 3,675 11,402 8,640 Total revenue $ 27,666 $ 18,777 $ 52,785 $ 45,281 Except for China, which represented $4.2 million and $7.4 million of the total revenue for the three and six months ended June 30, 2023, respectively, no foreign country represented more than 10% of the Company’s total revenue during the periods presented in this report. Refer to Note 13 for additional information on revenue by reporting segment. Unfulfilled Performance Obligations The condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022 included total deferred revenue of $15.5 million and $14.6 million, respectively. During the six months ended June 30, 2023, $6.8 million of the opening deferred revenue balance was recognized as revenue and $7.7 million of net additional advance payments, primarily for instrument service contracts, were received from customers. The Company expects to recognize revenue from unfulfilled performance obligations associated with service contracts that were partially completed as of June 30, 2023 in the following periods (in thousands): Fiscal Year Expected Revenue (1) 2023 remainder of the year $ 9,089 2024 8,453 2025 4,101 Thereafter 1,982 Total $ 23,625 _______ (1) Expected revenue includes both billed amounts included in deferred revenue and unbilled amounts that are not reflected in the Company’s condensed consolidated financial statements and are subject to change if the Company’s customers decide to cancel or modify their contracts. Purchase orders for instrument service contracts can generally be canceled before the service period begins. The Company also has unsatisfied performance obligations for service contracts with an expected term of one year or less not included in the amounts above.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, net	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, net	Goodwill and Intangible Assets, net In connection with the Company’s acquisition of DVS Sciences, In c. in February 2014, the Company recorded $104.1 million of goodwill and $112.0 million of intangible assets associated with the acquired technology. Also, in the first quarter of 2020, the Company recorded $2.2 million of goodwill and $5.4 million of developed technology intangibles from the Company’s acquisition of InstruNor AS (InstruNor). Goodwill and intangible assets with indefinite lives are not subject to amortization but are tested for impairment on an annual basis during the fourth quarter or whenever events or changes in circumstances indicate the carrying amount of these assets may not be recoverable. Qualitative assessment includes assessing significant events and circumstances such as the Company’s current results, assumptions regarding future performance, strategic initiatives and overall economic factors, including the impact of rising inflation and the possibility of a global recession, to determine the existence of potential indicators of impairment. If indicators of impairment are identified, a quantitative impairment test is performed. There have been no indicators of impairment of goodwill, long-lived assets or intangible assets during the six months ended June 30, 2023. In June 2022, the decision was made to discontinue further development on the pro duct lines supported by the InstruNor developed technology and an impairment charge of $3.5 million, representing the remaining carrying value of the intangible asset, was recorded in research and development expense. Intangible assets with finite lives include developed technology, patents and licenses. In the condensed consolidated balance sheets, developed technology is reported separately while patents and licenses are reported in other non-current assets. Intangible assets, net, were as follows (in thousands): June 30, 2023 Gross Amount Accumulated Amortization and Impairment Net Weighted-Average Amortization Period Developed technology $ 117,281 $ (110,281) $ 7,000 10.0 years Patents and licenses $ 11,250 $ (11,008) $ 242 7.0 years December 31, 2022 Gross Amount Accumulated Amortization Net Weighted-Average Amortization Period Developed technology $ 117,194 $ (104,594) $ 12,600 10.0 years Patents and licenses $ 11,247 $ (10,669) $ 578 7.0 years Total amortization expense of our intangible assets was $3.0 million and $3.2 million for the three months ended June 30, 2023 and 2022, respectively. Total amortization expense for the six months ended June 30, 2023 and 2022 was $5.9 million and $6.3 million, respectively. The $3.5 million impairment charge resulting in the write-off of InstruNor’s developed technology intangible is reflected in the accumulated amortization balance shown in the above table. Based on the carrying value of intangible assets as of June 30, 2023, the Company expects estimated future amortization expense to be as follows (in thousands): Fiscal Year Developed Technology Amortization Expense Patents and Licenses Amortization Expense Total 2023 remainder of the year $ 5,600 $ 235 $ 5,835 2024 1,400 7 1,407 Total $ 7,000 $ 242 $ 7,242

Balance Sheet Details

Balance Sheet Details	6 Months Ended
	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Details	Balance Sheet Details Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash consisted of the following (in thousands): June 30, 2023 December 31, 2022 Cash and cash equivalents $ 142,304 $ 81,309 Restricted cash 795 1,015 Total cash, cash equivalents and restricted cash $ 143,099 $ 82,324 Restricted cash is included in other non-current assets in the condensed consolidated balance sheets. Inventories, net Inventories, net consisted of the follo wing (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 16,876 $ 16,866 Work-in-process 447 945 Finished goods 12,427 15,245 Total inventory, gross 29,750 33,056 Allowance for excess and obsolete inventory (7,670) (11,583) Total inventories, net $ 22,080 $ 21,473 Property and Equipment, net Property and equipment, net consisted of the following (in thousands): June 30, 2023 December 31, 2022 Laboratory and manufacturing equipment $ 33,856 $ 33,329 Leasehold improvements 12,595 12,234 Computer equipment and software 6,043 5,793 Office furniture and fixtures 1,777 1,713 Property and equipment, gross 54,271 53,069 Less accumulated depreciation and amortization (32,038) (29,029) Construction-in-progress 2,289 1,612 Property and equipment, net $ 24,522 $ 25,652 Accrued Compensation and Related Benefits Accrued compensation and related benefits, which are included in current liabilities on the condensed consolidated balance sheets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Accrued incentive compensation $ 3,694 $ 1,170 Accrued vacation 2,873 2,795 Accrued payroll taxes and other 1,276 1,174 Accrued restructuring 1,922 4,014 Accrued compensation and related benefits $ 9,765 $ 9,153 Refer to Note 14 for addit ional information on restructuring. Deferred Grant Income In September 2020, the Company executed a contract with the National Institutes of Health (NIH) under NIH’s Rapid Acceleration of Diagnostics program to support the expansion of the Company’s production capacity for its COVID-19 test products. Under the now-completed contract, the Company received $34.0 million of funding from the NIH and used $22.2 million on capital expenditures for their Singapore manufacturing facility. The amortization of the deferred income, which is offset against depreciation, was $0.9 million and $0.8 million for the three months ended June 30, 2023 and June 30, 2022, respectively, and $1.8 million and $1.7 million for the six months ended June 30, 2023 and June 30, 2022, respectively Cumulative amounts applied against depreciation expense for these assets placed in service were $6.0 million and $4.2 million as of June 30, 2023 and December 31, 2022, respectively, and the carrying values of these assets were $16.2 million and $18.0 million, respectively, as of these same dates. The current portion of deferred grant income on the Company’s condensed consolidated balance sheets represents amounts expected to be offset against depreciation expense over the next twelve months. The non-current portion of deferred grant income includes amounts expected to be offset against depreciation expense in later periods.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Total debt consists of the following (in thousands): June 30, 2023 December 31, 2022 Convertible notes: 2014 Notes $ 568 568 2019 Notes 54,285 54,047 Total convertible notes, net 54,853 54,615 Term loan, non-current 5,809 8,194 Term loan, current 4,583 2,083 Total debt $ 65,245 $ 64,892 Convertible Notes In February 2014, the Company closed an underwritten public offering of 2014 Senior Convertible Notes (2014 Notes), which will mature on February 1, 2034, unless earlier converted, redeemed, or repurchased in accordance with the terms of the 2014 Notes. Holders may require the Company to repurchase all or a portion of their 2014 Notes on each of February 6, 2024 and February 6, 2029, at a repurchase price in cash equal to 100% of the principal amount of the 2014 Notes plus accrued and unpaid interest. In November 2019, the Company issued $55.0 million aggregate principal amount of 2019 Senior Convertible Notes (2019 Notes). Net proceeds from the 2019 Notes issuance of $52.7 million, after deductions for commissions and other debt issuance costs were used to retire all but $1.1 million of the aggregate principal value of the 2014 Notes then outstanding. The 2019 Notes bear interest at 5.25% per annum, payable semiannually on June 1 and December 1 of each year. The 2019 Notes will mature on December 1, 2024, unless earlier repurchased or converted pursuant to their terms. The 2019 Notes will be convertible at the option of the holder at any point prior to the close of business on the second scheduled trading day preceding the maturity date. The initial conversion rate of the 2019 Notes is 344.8276 shares of the Company’s common stock per $1,000 principal amount of 2019 Notes (which is equivalent to an initial conversion price of approximately $2.90 per share). The conversion rate is subject to adjustment upon the occurrence of certain specified events. Those certain specified events include voluntary conversion of the 2019 Notes prior to the Company’s exercise of the Issuer’s Conversion Option (as defined therein) or in connection with a make-whole fundamental change, entitling the holders, under certain circumstances, to a make-whole premium in the form of an increase in the conversion rate determined by reference to a make-whole table set forth in the indenture governing the 2019 Notes. The conversion rate will not be adjusted for any accrued and unpaid interest. The 2019 Notes are convertible at the Company’s option in whole but not in part into shares of the Company’s common stock upon certain conditions if the volume-weighted average price of the Company’s common stock has equaled or exceeded 130% of the Conversion Price then in effect for a specified number of days. Offering-related costs related to both notes were capitalized as debt issuance costs and are recorded as an offset to the carrying value of the 2019 Notes. Revolving Credit Facility On August 2, 2018, the Company entered into a revolving credit facility with Silicon Valley Bank (SVB) (as amended, the Revolving Credit Facility) in an aggregate principal amount of up to the lesser of (i) $15.0 million or (ii) the sum of (a) 85% of eligible receivables and (b) 50% of eligible inventory, in each case, subject to certain limitations (Borrowing Base), provided that the amount of eligible inventory that may be counted towards the Borrowing Base shall be subject to a cap as set forth in the Revolving Credit Facility. The Credit Facility was collateralized by substantially all the Company’s property, other than intellectual property and contains certain financial covenants and expired on August 2, 2023 . As of June 30, 2023, the Company was in compliance with all financial covenants. There were no borrowings under the Revolving Credit Facility and the total amount available was $7.1 million. On March 10, 2023, SVB was closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation was appointed as receiver. On March 27, 2023, First Citizens Bank & Trust Company (First Citizens Bank) assumed all of SVB’s deposits and loans. SVB now operates as a division of First Citizens Bank. Term Loan Facility, net On August 2, 2021, we amended our Revolving Credit Facility to, amongst other things, provide for a new $10.0 million term loan facility (the Term Loan Facility). As of June 30, 2023, the Term Loan Facility was fully drawn with an outstanding principal balance of $10.0 million and a carrying value of $10.4 million. The interest rate on the Term Loan Facility is the greater of 4.0% per annum or a floating per annum rate equal to the prime rate plus 0.75%. Interest on any outstanding term loan advances is due and payable monthly. In addition to the monthly interest payments, a final payment equal to 6.5% of the original principal amount of each advance is due the earlier of the maturity date or the date the advance is repaid. Principal balances are required to be repaid in 24 equal installments beginning on August 1, 2023. The stated maturity of the Term Loan Facility is July 1, 2025. However, if the principal amount of the Company’s convertible debt exceeds $0.6 million as of June 1, 2024 or if the maturity date of the 2019 Notes has not been extended beyond January 1, 2026 by June 1, 2024, then the maturity date of the Term Loan Facility will be June 1, 2024. Bridge Loans On January 23, 2022, the Company entered into separate loan agreements (collectively, the Bridge Loan Agreements) with various investors for a $25.0 million term loan (collectively, the Bridge Loans). The Bridge Loans were fully drawn on January 24, 2022, and automatically converted into Series B Preferred Stock upon the subsequent closing of the Private Placement (as defined below) on April 4, 2022 (the Closing Date). Applying the guidance in ASC 825 Financial Instruments, the Company elected to record the Bridge Loans at their fair value using a probability‐weighted expected return method for the valuation analysis of the Bridge Loans. This resulted in a $13.7 million change in fair value of the Bridge Loans from $25.0 million at inception to $38.7 million as of the Closing Date, including the portion attributable to accrued interest, which is reflected as a non-operating unrealized loss on the Bridge Loans in the accompanying condensed consolidated statements of operations for the six months ended June 30, 2022. See Note 9 for further detail.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases The Company has operating leases for buildings and vehicles, which includes a facility lease for its headquarters consisting of four floors. The Company’s facility lease has an expiration date of April 30, 2030 and contains an option to extend the lease, for up to five years, along with termination options. The Company is utilizing one floor (19 th floor) for its corporate operations with all expense for this floor included within selling, general and administrative expense on the Company’s condensed consolidated statement of operations for the three and six months ended June 30, 2023 and 2022. As part of the Company’s restructuring plan discussed further in Note 14 , in August 2022, the Company entered into an agreement to sublease approximately 25% of its corporate headquarters space (18 th floor) in South San Francisco, California for a period of 39 months. As of June 30, 2023, 30 months were remaining on the sublease. The Company expects to recognize $4.7 million of sublease income over the lease term that commenced in October 2022. In addition, on February 28, 2023, the Company signed a second agreement to sublease an additional 25% of its corporate headquarters (21 st floor) for a period of 77 months. The Company expects to recognize additional sublease income of $9.1 million over the lease term, commencing on December 1, 2023. Rent expense, net of sublease income, is reported within restructuring and related charges for the three and six months ended June 30, 2023 in the condensed consolidated statements of operations. The Company is currently in the process of fully vacating and potentially subleasing an additional floor (20 th floor). Indemnification From time to time, the Company has entered into indemnification provisions under certain of its agreements in the ordinary course of business, typically with business partners, customers, and suppliers. Pursuant to these agreements, the Company may indemnify, hold harmless, and agree to reimburse the indemnified parties on a case-by-case basis for losses suffered or incurred by the indemnified parties in connection with any patent or other intellectual property infringement claim by any third party with respect to the Company’s products. The term of these indemnification provisions is generally perpetual from the time of the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is typically not limited to a specific amount. In addition, the Company has entered into indemnification agreements with its officers, directors, and certain other employees. With certain exceptions, these agreements provide for indemnification for related expenses including, among others, attorneys’ fees, judgments, fines and settlement amounts incurred by any of these individuals in any action or proceeding. Litigation From time to time, the Company may be subject to various legal proceedings and claims arising in the ordinary course of business. These include disputes and lawsuits related to intellectual property, mergers and acquisitions, licensing, contract law, tax, regulatory, distribution arrangements, employee relations and other matters. Periodically, the Company reviews the status of each matter and assess its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and a range of possible loss can be estimated, the Company accrues a liability for the estimated loss. The Company has not recorded any such liabilities in any of the periods presented. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based only on the best information available at the time. As additional information becomes available, the Company continues to reassess the potential liability related to pending claims and litigation and may revise estimates.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair Value of Financial Instruments The following tables summarize the Company’s financial instruments by significant investment category measured at fair value on a recurring basis within the fair value hierarchy (in thousands): Fair Value Measurements At Reporting Date Using Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of June 30, 2023 Cash and cash equivalents: Money market funds $ 120,975 $ 120,975 $ — $ — Total cash and cash equivalents $ 120,975 $ 120,975 $ — $ — Fair Value Measurements At Reporting Date Using Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2022 Cash and cash equivalents: Money market funds $ 53,894 $ 53,894 $ — $ — Total cash and cash equivalents $ 53,894 $ 53,894 $ — $ — Short-term investments: U.S. treasury securities $ 84,475 $ 84,475 $ — $ — Total short-term investments $ 84,475 $ 84,475 $ — $ — Total assets measured at fair value $ 138,369 $ 138,369 $ — $ — There were no transfers within the hierarchy and no changes in the valuation techniques used during the six months ended June 30, 2023. The following table summarizes available-for-sale securities (in thousands): As of June 30, 2023 Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash and cash equivalents: Money market funds $ 120,975 $ — $ — $ 120,975 Total cash and cash equivalents $ 120,975 $ — $ — $ 120,975 As of December 31, 2022 Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash and cash equivalents: Money market funds $ 53,894 $ — $ — $ 53,894 Total cash and cash equivalents $ 53,894 $ — $ — $ 53,894 Short-term investments: U.S. treasury securities 1 or less $ 84,977 $ — $ (502) $ 84,475 Total short-term investments $ 84,977 $ — $ (502) $ 84,475 Total available-for-sale securities $ 138,871 $ — $ (502) $ 138,369 As of June 30, 2023, the Company had no allowance for credit losses as it did not hold any financial instruments other than money market funds. Debt The 2014 Notes and 2019 Notes (collectively, the Convertible Notes) are not regularly traded. The estimated fair values for these securities represent Level III valuations since a fair value for these securities cannot be determined by using readily observable inputs or measures, such as market prices. Fair values were estimated using pricing models and risk-adjusted value ranges. The estimated fair value of the Term Loan Facility also represents a Level III valuation since the value cannot be determined by using readily observable inputs or measures, such as market prices. The fair value of our Term Loan Facility was estimated using a discounted cash flow model and current market interest rate data for similar loans. The carrying amounts of our lines of Term Loan Facility approximates fair value as interest rates applied to the underlying debt are adjusted quarterly to market interest rates. The carrying value of the Convertible Notes approximates fair value as the interest rate and terms are reflective of the rate the Company could obtain on debt with similar terms and conditions.

Mezzanine Equity

Mezzanine Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Mezzanine Equity	Mezzanine Equity Series B Redeemable Preferred Stock On January 23, 2022, the Company entered into separate Series B Convertible Preferred Stock Purchase Agreements (collectively, the Purchase Agreements) with Casdin Private Growth Equity Fund II, L.P. and Casdin Partners Master Fund, L.P., (collectively, Casdin) and Viking Global Opportunities Illiquid Investments Sub Master LP and Viking Global Opportunities Drawdown LP (collectively, Viking, and collectively with Casdin, the Lenders), whereby the Company issued and sold an aggregate of $225 million of convertible preferred stock, consisting of: (i) 112,500 shares of the Company’s Series B-1 Convertible Preferred Stock, par value $0.001 per share (the Series B-1 Preferred Stock), at a purchase price of $1,000 per share; and (ii) 112,500 shares of the Company’s Series B-2 Convertible Preferred Stock, par value $0.001 per share (the Series B-2 Preferred Stock, and together with the Series B-1 Preferred Stock, the Series B Preferred Stock or the Series B Redeemable Preferred Stock) at a purchase price of $1,000 per share (together with the issuance of shares of Series B Preferred Stock in connection with the conversion of the Bridge Loans, the Private Placement). On the Closing Date, 225,000 shares of Series B Preferred Stock were issued in accordance with the Purchase Agreements and the Bridge Loans converted into 30,559 shares of Series B Preferred Stock, for a total of 255,559 shares of Series B Preferred Stock. The Company recorded the Series B Preferred Stock as mezzanine equity at its fair value upon issuance, net of any issuance costs, on the condensed consolidated balance sheets as it has features, such as change of control and liquidation preference, which are outside of the Company’s control. The Purchase Agreements were accounted for as forward sales contracts at fair value in accordance with the authoritative accounting guidance as the Series B Preferred Stock included certain contingent redemption features that created an obligation for the Company to repurchase its shares. The fair value of the payable portion of the forward sales contracts was determined using a Monte Carlo Simulation, which relies on significant assumptions regarding the estimated yield and term of the Series B Preferred Stock. T he components of the carrying value of the Series B Preferred Stock as of June 30, 2023 and December 31, 2022 were as follows (in thousands): Proceeds from Purchase Agreements $ 225,000 Proceeds from Bridge Loans 25,000 Change in fair value of Forward Purchase Agreements 60,081 Change in the fair value of Bridge Loans 13,719 Less equity issuance costs (12,547) Total Series B Redeemable Preferred Stock $ 311,253 The Series B Preferred Stock ranks senior to our common stock with respect to dividend rights, redemption rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. The holders of Series B Preferred Stock are entitled to participate in all dividends declared on our common stock on an as-converted basis. Stock Repurchase Program On November 23, 2022, the Company’s board of directors authorized the repurchase of up to $20.0 million in shares of the Company’s common stock in the open market or in negotiated transactions through December 31, 2023. The Company repurchased a total of 1,208,200 shares of common stock under the program at a cost of $2.4 million, excluding commission fees, for an average of $1.97 per share for the three months ended June 30, 2023. Cumulative repurchases under the program amount to 2,880,993 shares at a total cost of $5.4 million. T he Company had a remaining authorization to repurchase up to approximately $14.6 million in shares under this program as of June 30, 2023. Repurchases may be suspended or discontinued at any time at the Company’s discretion. Common Shares Reserved As of June 30, 2023, the Company had reserved shares of common stock for future issuance under equity compensation plans as foll ows (in thousands): Securities To Be Issued Upon Exercise Of Options Securities To Be Issued Upon Release Of Restricted Stock Number Of Remaining Securities Available For Future Issuance 2022 Inducement Equity Incentive Plan 7,595 1,350 147 2011 Equity Incentive Plan 1,351 4,008 8,148 2017 Inducement Award Plan 60 2 — 2017 Employee Stock Purchase Plan — — 1,782 9,006 5,360 10,077

Shareholders_ Deficit

Shareholders’ Deficit	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Shareholders’ Deficit	Mezzanine Equity Series B Redeemable Preferred Stock On January 23, 2022, the Company entered into separate Series B Convertible Preferred Stock Purchase Agreements (collectively, the Purchase Agreements) with Casdin Private Growth Equity Fund II, L.P. and Casdin Partners Master Fund, L.P., (collectively, Casdin) and Viking Global Opportunities Illiquid Investments Sub Master LP and Viking Global Opportunities Drawdown LP (collectively, Viking, and collectively with Casdin, the Lenders), whereby the Company issued and sold an aggregate of $225 million of convertible preferred stock, consisting of: (i) 112,500 shares of the Company’s Series B-1 Convertible Preferred Stock, par value $0.001 per share (the Series B-1 Preferred Stock), at a purchase price of $1,000 per share; and (ii) 112,500 shares of the Company’s Series B-2 Convertible Preferred Stock, par value $0.001 per share (the Series B-2 Preferred Stock, and together with the Series B-1 Preferred Stock, the Series B Preferred Stock or the Series B Redeemable Preferred Stock) at a purchase price of $1,000 per share (together with the issuance of shares of Series B Preferred Stock in connection with the conversion of the Bridge Loans, the Private Placement). On the Closing Date, 225,000 shares of Series B Preferred Stock were issued in accordance with the Purchase Agreements and the Bridge Loans converted into 30,559 shares of Series B Preferred Stock, for a total of 255,559 shares of Series B Preferred Stock. The Company recorded the Series B Preferred Stock as mezzanine equity at its fair value upon issuance, net of any issuance costs, on the condensed consolidated balance sheets as it has features, such as change of control and liquidation preference, which are outside of the Company’s control. The Purchase Agreements were accounted for as forward sales contracts at fair value in accordance with the authoritative accounting guidance as the Series B Preferred Stock included certain contingent redemption features that created an obligation for the Company to repurchase its shares. The fair value of the payable portion of the forward sales contracts was determined using a Monte Carlo Simulation, which relies on significant assumptions regarding the estimated yield and term of the Series B Preferred Stock. T he components of the carrying value of the Series B Preferred Stock as of June 30, 2023 and December 31, 2022 were as follows (in thousands): Proceeds from Purchase Agreements $ 225,000 Proceeds from Bridge Loans 25,000 Change in fair value of Forward Purchase Agreements 60,081 Change in the fair value of Bridge Loans 13,719 Less equity issuance costs (12,547) Total Series B Redeemable Preferred Stock $ 311,253 The Series B Preferred Stock ranks senior to our common stock with respect to dividend rights, redemption rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. The holders of Series B Preferred Stock are entitled to participate in all dividends declared on our common stock on an as-converted basis. Stock Repurchase Program On November 23, 2022, the Company’s board of directors authorized the repurchase of up to $20.0 million in shares of the Company’s common stock in the open market or in negotiated transactions through December 31, 2023. The Company repurchased a total of 1,208,200 shares of common stock under the program at a cost of $2.4 million, excluding commission fees, for an average of $1.97 per share for the three months ended June 30, 2023. Cumulative repurchases under the program amount to 2,880,993 shares at a total cost of $5.4 million. T he Company had a remaining authorization to repurchase up to approximately $14.6 million in shares under this program as of June 30, 2023. Repurchases may be suspended or discontinued at any time at the Company’s discretion. Common Shares Reserved As of June 30, 2023, the Company had reserved shares of common stock for future issuance under equity compensation plans as foll ows (in thousands): Securities To Be Issued Upon Exercise Of Options Securities To Be Issued Upon Release Of Restricted Stock Number Of Remaining Securities Available For Future Issuance 2022 Inducement Equity Incentive Plan 7,595 1,350 147 2011 Equity Incentive Plan 1,351 4,008 8,148 2017 Inducement Award Plan 60 2 — 2017 Employee Stock Purchase Plan — — 1,782 9,006 5,360 10,077

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Restricted Stock Units Number of Units Weighted-Average Balance at December 31, 2022 7,120 $ 2.58 RSU granted 696 $ 2.01 RSU released (1,849) $ 2.84 RSU forfeited (607) $ 2.36 Balance at June 30, 2023 5,360 $ 2.45 As of June 30, 2023, the unrecognized compensation costs related to outstanding unvested RSUs under the Company’s equity incentive plans were $11.3 million. The Company expects to recognize those costs over a weighted-average period of 2.5 years. Stock Options Number of Weighted-Average Weighted- Aggregate Intrinsic Value (1) (in thousands) Balance at December 31, 2022 7,882 $ 4.43 7.9 $ — Options granted 1,959 $ 2.61 $ — Options cancelled (835) $ 6.88 $ — Balance at June 30, 2023 9,006 $ 3.81 8.8 $ 102 Vested at June 30, 2023 2,826 $ 4.36 8.2 $ 22 Unvested awards at June 30, 2023 6,180 $ 3.56 9.1 $ 80 _______ (1) Aggregate intrinsic value as of June 30, 2023 was calculated as the difference between the closing price per share of the Company’s common stock on the last trading day of June, which was $1.93, and the exercise price of the options, multiplied by the number of in-the-money options. As of June 30, 2023, the unrecognized compensation costs related to outstanding unvested options under the Company’s equity incentive plans were $13.9 million. The Company expects to recognize those costs over a weighted-average period of 2.7 years. Performance-based Awards The Company has granted PSUs to certain executive officers and senior level employees. The number of PSUs ultimately earned under these awards is calculated by comparing the Total Shareholder Return (TSR) of the Company’s common stock over the applicable three-year period against the TSR of a defined group of peer companies. The Company’s relative performance against its peer group determines the payout, which can range from 0% to 200% of the base awards. Activity under the TSR-based PSUs was as follows: Number of Units Weighted-Average Balance at December 31, 2022 453 $ 4.81 PSU granted — $ — PSU released (52) $ 9.6 Performance adjustment for 2020 awards (401) $ 4.19 Balance at June 30, 2023 — $ — Stock-based Compensation Expense Stock-based compensation expense is reported in our condensed consolidated statement of operations as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of product revenue $ 107 $ 163 $ 460 $ 305 Research and development expense 366 705 782 1,404 Selling, general and administrative expense 2,641 3,795 5,020 6,996 Total stock-based compensation expense $ 3,114 $ 4,663 $ 6,262 $ 8,705

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s quarterly provision for income taxes is based on an estimated annual effective income tax rate. The quarterly provision for income taxes also includes discrete items, such as changes in valuation allowances or adjustments upon finalization of tax returns as well as infrequently occurring items, if any, such as the effects of changes in tax laws or rates, in the interim period in which they occur. The Company recorded an income tax expense of $0.3 million and an income tax benefit of $1.6 million in the three months ended June 30, 2023 and June 30, 2022, respectively. The Company recorded an income tax expense of $0.6 million and an income tax benefit of $2.2 million in the six months ended June 30, 2023 and June 30, 2022, respectively. The increase in our tax provision reflects the effect of our foreign operations, which reported pre-tax income in the first half of 2023 and pre-tax loss in the first half of 2022. The Company’s effective tax rates for both periods differ from the 21% U.S. Federal statutory tax rate primarily due to valuation allowances recorded against deferred tax assets on domestic losses and the tax rate differences between the U.S. and foreign countries. The Company maintains a valuation allowance against its U.S. deferred tax assets as the Company believes it is more likely than not the deferred tax assets will not be realized.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting In the third quarter of 2022, the Company’s Chief Executive Officer (CEO), who is the Chief Operating Decision Maker (CODM), instituted the practice of evaluating operating performance and making resource allocation decisions using two reportable segments: proteomics and genomics. Each segment is identified by its unique portfolio of products. Proteomics includes the Company’s instruments, consumables, software, and services based upon technologies used in the identification of proteins. Genomics includes the Company’s instruments, consumables, software, and services based upon technologies used in the identification of genes (DNA, RNA) and its functions. The Company determines each segment’s loss from operations by subtracting direct expenses, including cost of product and service revenues, research and development expense, and sales and marketing expense, from revenues. Amortization, depreciation, and restructuring expenses are included in each segment’s operating expenses. Corporate costs, including general and administrative expenses for functions shared by both operating segments such as executive management, human resources, and finance, along with interest and taxes, are excluded from each segment’s results, which is consistent with how the Company’s CODM evaluates segment performance. The Company does not prepare or report segmented balance sheet information as its CODM does not use the information to assess segment operating performance. The segments adhere to the same accounting policies that the Company adheres to as a whole. Segment reporting for historical periods has been included in this report to ensure comparability with the current year. The Company’s business segment information was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenue: Proteomics $ 18,088 $ 10,418 $ 33,288 $ 24,198 Genomics 9,578 8,359 19,497 21,083 Total revenue $ 27,666 $ 18,777 $ 52,785 $ 45,281 Loss from operations Proteomics $ (3,710) $ (12,350) $ (9,191) $ (17,699) Genomics (437) (10,177) (260) (15,658) Corporate expenses (11,035) (15,736) (21,174) (31,019) Restructuring and related charges (2,267) (300) (3,417) (1,690) Total loss from operations $ (17,449) $ (38,563) $ (34,042) $ (66,066)

Restructuring and Related Charg

Restructuring and Related Charges	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Charges	Restructuring and Related Charges Beginning with the appointment of the Company’s new management team in April 2022 and as further announced in August 2022, the Company has implemented a restructuring plan, including a reduction in force, to improve operational efficiency, achieve cost savings and align the Company’s workforce to the future needs of the business. In addition to the reduction in force, the Company is reducing leased office space, optimizing its manufacturing footprint, and streamlining support functions. The Company is developing a more disciplined cost management culture throughout its organization by investing in training and advanced information systems. The Company records restructuring and related charges as incurred. These items are classified within restructuring and related charges in the condensed consolidated statements of operations for the three and six months ended June 30, 2023, and primarily include severance costs as well as facility costs (net of sublease income) for leased space in South San Francisco that the Company has vacated as part of the restructuring plan. The Company recognized restructuring and related charges of $2.3 million and $0.3 million for the three months ended June 30, 2023 and 2022, respectively, and $3.4 million and $1.7 million for the six months ended June 30, 2023 and 2022, respectively. The Company expects to fully relieve the liability for restructuring charges primarily related to employee severance by the end of 2023. Ongoing restructuring charges will continue to be incurred for facility related costs through the termination of the facility leases. These estimates are subject to a number of assumptions, and actual results may differ. The following table summarizes the change in the Company’s restructuring and other related liabilities for the six months ended June 30, 2023 (in thousands): Severance and other employee-related benefits (1) Facility Legal and consulting expenses (2) Total Balance at December 31, 2022 $ 4,014 $ — $ 19 $ 4,033 Restructuring and related charges 1,346 1,980 91 3,417 Cash payments (3,438) (1,980) (110) (5,528) Balance at June 30, 2023 $ 1,922 $ — $ — $ 1,922 (1) Restructuring liabilities are recorded in accrued compensation and related benefits on the condensed consolidated balance sheets. (2) Liabilities related to other related costs are recorded in other accrued liabilities on the condensed consolidated balance sheets. The Company’s restructuring and related charges by segment and corporate were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Restructuring: Proteomics $ 287 $ — $ 478 $ — Genomics 151 — 559 — Corporate expenses 1,829 300 2,380 1,690 Total restructuring and related charges $ 2,267 $ 300 $ 3,417 $ 1,690

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (U.S. GAAP). As of June 30, 2023, the Company had wholly owned subsidiaries in Singapore, Canada, the Netherlands, Japan, France, Italy, the United Kingdom, China, Germany and Norway. All subsidiaries, except for Singapore, use their local currency as their functional currency. The Singapore subsidiary uses the U.S. dollar as its functional currency. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience, the current economic environment and on various other assumptions believed to be reasonable, which together form the basis for making judgments about the carrying values of assets and liabilities. These accounting matters included but were not limited to inventory and related reserves; the carrying value of goodwill and other long-lived assets; and the potential outcome of uncertain tax positions that have been recognized in the Company’s consolidated financial statements or tax returns. The Company also uses significant judgment in determining the fair value of financial instruments, including debt and equity instruments. Actual results could differ materially from these estimates and could have a material adverse effect on the Company’s condensed consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounti ng Pronouncements From time to time, new accounting standards are issued by the Financial Accounting Standards Board or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.
Reclassification	Reclassification Certain amounts in the condensed consolidated financial statements have been reclassified from their original presentation to conform to current year presentation.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Potential Common Shares Excluded from Computations of Net Loss Per Share Attributed to Common Stockholders	The following potentially dilutive common shares (in thousands) were excluded from the computations of diluted net loss per share for the periods presented because including them would have been anti-dilutive: Six Months Ended June 30, 2023 2022 RSUs, PSUs, and stock options 14,366 14,955 Series B Preferred Stock 75,164 75,164 2019 Notes (1) 18,966 18,966 2014 Notes 10 10 Total 108,506 109,095 (1) The conversion rate is subject to adjustment upon the occurrence of certain specified events, including voluntary conversion of the 2019 Notes prior to the Company’s exercise of the Issuer’s Conversion Option or in connection with a make-whole fundamental change, entitling the holders, under certain circumstances, to a make-whole premium in the form of an increase in the conversion rate determined based on the effective date and current price of the Company’s common stock, subject to a minimum and maximum price per share. The maximum number of additional shares of common stock that may be issued under the make-whole premium is 4,741,374 shares. Refer to Note 6 for additional information on the 2019 Notes.

Revenue and Geographic Area (Ta

Revenue and Geographic Area (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present revenue based upon product type and the geographic regions of the Company’s customers’ facilities (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Instruments $ 11,587 $ 2,661 $ 17,510 $ 10,184 Consumables 10,078 9,558 21,593 22,039 Total product revenue 21,665 12,219 39,103 32,223 Service revenue 5,821 5,806 12,702 11,950 Product and service revenue 27,486 18,025 51,805 44,173 Other revenue 180 752 980 1,108 Total revenue $ 27,666 $ 18,777 $ 52,785 $ 45,281 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Americas $ 10,448 $ 9,433 $ 22,110 $ 22,363 Europe, Middle East and Africa (EMEA) 11,436 5,669 19,273 14,278 Asia-Pacific 5,782 3,675 11,402 8,640 Total revenue $ 27,666 $ 18,777 $ 52,785 $ 45,281
Schedule of Expected Timing of Revenue Recognition	The Company expects to recognize revenue from unfulfilled performance obligations associated with service contracts that were partially completed as of June 30, 2023 in the following periods (in thousands): Fiscal Year Expected Revenue (1) 2023 remainder of the year $ 9,089 2024 8,453 2025 4,101 Thereafter 1,982 Total $ 23,625 _______ (1) Expected revenue includes both billed amounts included in deferred revenue and unbilled amounts that are not reflected in the Company’s condensed consolidated financial statements and are subject to change if the Company’s customers decide to cancel or modify their contracts. Purchase orders for instrument service contracts can generally be canceled before the service period begins.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, net (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net, were as follows (in thousands): June 30, 2023 Gross Amount Accumulated Amortization and Impairment Net Weighted-Average Amortization Period Developed technology $ 117,281 $ (110,281) $ 7,000 10.0 years Patents and licenses $ 11,250 $ (11,008) $ 242 7.0 years December 31, 2022 Gross Amount Accumulated Amortization Net Weighted-Average Amortization Period Developed technology $ 117,194 $ (104,594) $ 12,600 10.0 years Patents and licenses $ 11,247 $ (10,669) $ 578 7.0 years
Schedule of Estimated Future Intangible Asset Amortization Expense	Based on the carrying value of intangible assets as of June 30, 2023, the Company expects estimated future amortization expense to be as follows (in thousands): Fiscal Year Developed Technology Amortization Expense Patents and Licenses Amortization Expense Total 2023 remainder of the year $ 5,600 $ 235 $ 5,835 2024 1,400 7 1,407 Total $ 7,000 $ 242 $ 7,242

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	6 Months Ended
	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Cash and Cash Equivalents	Cash, cash equivalents and restricted cash consisted of the following (in thousands): June 30, 2023 December 31, 2022 Cash and cash equivalents $ 142,304 $ 81,309 Restricted cash 795 1,015 Total cash, cash equivalents and restricted cash $ 143,099 $ 82,324
Schedule of Restricted Cash	Cash, cash equivalents and restricted cash consisted of the following (in thousands): June 30, 2023 December 31, 2022 Cash and cash equivalents $ 142,304 $ 81,309 Restricted cash 795 1,015 Total cash, cash equivalents and restricted cash $ 143,099 $ 82,324
Schedule of Inventories	Inventories, net consisted of the follo wing (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 16,876 $ 16,866 Work-in-process 447 945 Finished goods 12,427 15,245 Total inventory, gross 29,750 33,056 Allowance for excess and obsolete inventory (7,670) (11,583) Total inventories, net $ 22,080 $ 21,473
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): June 30, 2023 December 31, 2022 Laboratory and manufacturing equipment $ 33,856 $ 33,329 Leasehold improvements 12,595 12,234 Computer equipment and software 6,043 5,793 Office furniture and fixtures 1,777 1,713 Property and equipment, gross 54,271 53,069 Less accumulated depreciation and amortization (32,038) (29,029) Construction-in-progress 2,289 1,612 Property and equipment, net $ 24,522 $ 25,652
Schedule of Accrued Compensation and Related Benefits	Accrued compensation and related benefits, which are included in current liabilities on the condensed consolidated balance sheets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Accrued incentive compensation $ 3,694 $ 1,170 Accrued vacation 2,873 2,795 Accrued payroll taxes and other 1,276 1,174 Accrued restructuring 1,922 4,014 Accrued compensation and related benefits $ 9,765 $ 9,153

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Total debt consists of the following (in thousands): June 30, 2023 December 31, 2022 Convertible notes: 2014 Notes $ 568 568 2019 Notes 54,285 54,047 Total convertible notes, net 54,853 54,615 Term loan, non-current 5,809 8,194 Term loan, current 4,583 2,083 Total debt $ 65,245 $ 64,892

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Company’s Financial Instruments by Significant Investment Category Measured at Fair Value on a Recurring Basis Within the Fair Value Hierarchy	The following tables summarize the Company’s financial instruments by significant investment category measured at fair value on a recurring basis within the fair value hierarchy (in thousands): Fair Value Measurements At Reporting Date Using Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of June 30, 2023 Cash and cash equivalents: Money market funds $ 120,975 $ 120,975 $ — $ — Total cash and cash equivalents $ 120,975 $ 120,975 $ — $ — Fair Value Measurements At Reporting Date Using Total Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2022 Cash and cash equivalents: Money market funds $ 53,894 $ 53,894 $ — $ — Total cash and cash equivalents $ 53,894 $ 53,894 $ — $ — Short-term investments: U.S. treasury securities $ 84,475 $ 84,475 $ — $ — Total short-term investments $ 84,475 $ 84,475 $ — $ — Total assets measured at fair value $ 138,369 $ 138,369 $ — $ —
Schedule of Available-for-Sale Securities Reconciliation	The following table summarizes available-for-sale securities (in thousands): As of June 30, 2023 Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash and cash equivalents: Money market funds $ 120,975 $ — $ — $ 120,975 Total cash and cash equivalents $ 120,975 $ — $ — $ 120,975 As of December 31, 2022 Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Cash and cash equivalents: Money market funds $ 53,894 $ — $ — $ 53,894 Total cash and cash equivalents $ 53,894 $ — $ — $ 53,894 Short-term investments: U.S. treasury securities 1 or less $ 84,977 $ — $ (502) $ 84,475 Total short-term investments $ 84,977 $ — $ (502) $ 84,475 Total available-for-sale securities $ 138,871 $ — $ (502) $ 138,369

Mezzanine Equity (Tables)

Mezzanine Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Carrying Value of Preferred Stock	T he components of the carrying value of the Series B Preferred Stock as of June 30, 2023 and December 31, 2022 were as follows (in thousands): Proceeds from Purchase Agreements $ 225,000 Proceeds from Bridge Loans 25,000 Change in fair value of Forward Purchase Agreements 60,081 Change in the fair value of Bridge Loans 13,719 Less equity issuance costs (12,547) Total Series B Redeemable Preferred Stock $ 311,253

Shareholders_ Deficit (Tables)

Shareholders’ Deficit (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Common Stock Reserved for Future Issuance	As of June 30, 2023, the Company had reserved shares of common stock for future issuance under equity compensation plans as foll ows (in thousands): Securities To Be Issued Upon Exercise Of Options Securities To Be Issued Upon Release Of Restricted Stock Number Of Remaining Securities Available For Future Issuance 2022 Inducement Equity Incentive Plan 7,595 1,350 147 2011 Equity Incentive Plan 1,351 4,008 8,148 2017 Inducement Award Plan 60 2 — 2017 Employee Stock Purchase Plan — — 1,782 9,006 5,360 10,077 Stock-based compensation expense is reported in our condensed consolidated statement of operations as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of product revenue $ 107 $ 163 $ 460 $ 305 Research and development expense 366 705 782 1,404 Selling, general and administrative expense 2,641 3,795 5,020 6,996 Total stock-based compensation expense $ 3,114 $ 4,663 $ 6,262 $ 8,705

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Activity Under Restricted Stock Units	Restricted Stock Units Number of Units Weighted-Average Balance at December 31, 2022 7,120 $ 2.58 RSU granted 696 $ 2.01 RSU released (1,849) $ 2.84 RSU forfeited (607) $ 2.36 Balance at June 30, 2023 5,360 $ 2.45
Schedule of Activity Under Stock Options	Stock Options Number of Weighted-Average Weighted- Aggregate Intrinsic Value (1) (in thousands) Balance at December 31, 2022 7,882 $ 4.43 7.9 $ — Options granted 1,959 $ 2.61 $ — Options cancelled (835) $ 6.88 $ — Balance at June 30, 2023 9,006 $ 3.81 8.8 $ 102 Vested at June 30, 2023 2,826 $ 4.36 8.2 $ 22 Unvested awards at June 30, 2023 6,180 $ 3.56 9.1 $ 80 _______
Schedule of Nonvested Performance-Based Units Activity	Activity under the TSR-based PSUs was as follows: Number of Units Weighted-Average Balance at December 31, 2022 453 $ 4.81 PSU granted — $ — PSU released (52) $ 9.6 Performance adjustment for 2020 awards (401) $ 4.19 Balance at June 30, 2023 — $ —
Schedule of Stock-Based Compensation Expense	As of June 30, 2023, the Company had reserved shares of common stock for future issuance under equity compensation plans as foll ows (in thousands): Securities To Be Issued Upon Exercise Of Options Securities To Be Issued Upon Release Of Restricted Stock Number Of Remaining Securities Available For Future Issuance 2022 Inducement Equity Incentive Plan 7,595 1,350 147 2011 Equity Incentive Plan 1,351 4,008 8,148 2017 Inducement Award Plan 60 2 — 2017 Employee Stock Purchase Plan — — 1,782 9,006 5,360 10,077 Stock-based compensation expense is reported in our condensed consolidated statement of operations as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of product revenue $ 107 $ 163 $ 460 $ 305 Research and development expense 366 705 782 1,404 Selling, general and administrative expense 2,641 3,795 5,020 6,996 Total stock-based compensation expense $ 3,114 $ 4,663 $ 6,262 $ 8,705

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Business Segment Information	The Company’s business segment information was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenue: Proteomics $ 18,088 $ 10,418 $ 33,288 $ 24,198 Genomics 9,578 8,359 19,497 21,083 Total revenue $ 27,666 $ 18,777 $ 52,785 $ 45,281 Loss from operations Proteomics $ (3,710) $ (12,350) $ (9,191) $ (17,699) Genomics (437) (10,177) (260) (15,658) Corporate expenses (11,035) (15,736) (21,174) (31,019) Restructuring and related charges (2,267) (300) (3,417) (1,690) Total loss from operations $ (17,449) $ (38,563) $ (34,042) $ (66,066)

Restructuring and Related Cha_2

Restructuring and Related Charges (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liabilities	The following table summarizes the change in the Company’s restructuring and other related liabilities for the six months ended June 30, 2023 (in thousands): Severance and other employee-related benefits (1) Facility Legal and consulting expenses (2) Total Balance at December 31, 2022 $ 4,014 $ — $ 19 $ 4,033 Restructuring and related charges 1,346 1,980 91 3,417 Cash payments (3,438) (1,980) (110) (5,528) Balance at June 30, 2023 $ 1,922 $ — $ — $ 1,922 (1) Restructuring liabilities are recorded in accrued compensation and related benefits on the condensed consolidated balance sheets. (2) Liabilities related to other related costs are recorded in other accrued liabilities on the condensed consolidated balance sheets. The Company’s restructuring and related charges by segment and corporate were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Restructuring: Proteomics $ 287 $ — $ 478 $ — Genomics 151 — 559 — Corporate expenses 1,829 300 2,380 1,690 Total restructuring and related charges $ 2,267 $ 300 $ 3,417 $ 1,690

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Potential Common Shares Excluded from Computations of Net Loss Per Share Attributed to Common Stockholders (Details) (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs, PSUs, and stock options	14,366,000	14,955,000
Series B Preferred Stock	75,164,000	75,164,000
Total	108,506,000	109,095,000
Maximum additional shares issuable (in shares)	4,741,374
2019 Convertible Notes | Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
2019 and 2014 Notes	18,966,000	18,966,000
2014 Notes | Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
2019 and 2014 Notes	10,000	10,000

Revenue and Geographic Area - S

Revenue and Geographic Area - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 27,666	$ 18,777	$ 52,785	$ 45,281
Americas
Disaggregation of Revenue [Line Items]
Total revenue	10,448	9,433	22,110	22,363
Europe, Middle East and Africa (EMEA)
Disaggregation of Revenue [Line Items]
Total revenue	11,436	5,669	19,273	14,278
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	5,782	3,675	11,402	8,640
Instruments
Disaggregation of Revenue [Line Items]
Total revenue	11,587	2,661	17,510	10,184
Consumables
Disaggregation of Revenue [Line Items]
Total revenue	10,078	9,558	21,593	22,039
Product revenue
Disaggregation of Revenue [Line Items]
Total revenue	21,665	12,219	39,103	32,223
Service revenue
Disaggregation of Revenue [Line Items]
Total revenue	5,821	5,806	12,702	11,950
Product and service revenue
Disaggregation of Revenue [Line Items]
Total revenue	27,486	18,025	51,805	44,173
Other revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 180	$ 752	$ 980	$ 1,108

Revenue and Geographic Area - N

Revenue and Geographic Area - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 27,666	$ 18,777	$ 52,785	$ 45,281
Deferred revenue	15,500		15,500		$ 14,600
Revenue recognized			6,800
Additional advance payments received			7,700
China
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,200		$ 7,400

Revenue and Geographic Area - P

Revenue and Geographic Area - Performance Obligations (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue from External Customer [Line Items]
Remaining performance obligation	$ 23,625
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue from External Customer [Line Items]
Remaining performance obligation	$ 9,089
Remaining performance obligation, expected timing of satisfaction	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from External Customer [Line Items]
Remaining performance obligation	$ 8,453
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from External Customer [Line Items]
Remaining performance obligation	$ 4,101
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from External Customer [Line Items]
Remaining performance obligation	$ 1,982
Remaining performance obligation, expected timing of satisfaction

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, net - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended			6 Months Ended
	Jun. 30, 2022	Feb. 28, 2014	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2020	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Goodwill			$ 106,287,000			$ 106,287,000		$ 106,251,000
Asset impairment charges						0
Impairment of InstruNor developed technology intangible						0	$ 3,526,000
Amortization of intangible assets			$ 3,000,000	$ 3,200,000		$ 5,900,000	$ 6,300,000
DVS Sciences, Inc.
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 104,100,000
DVS Sciences, Inc. | Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		$ 112,000,000
InstruNor AS
Finite-Lived Intangible Assets [Line Items]
Goodwill					$ 2,200,000
InstruNor AS | Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired					$ 5,400,000
Impairment of InstruNor developed technology intangible	$ 3,500,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, net - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total	$ 7,242
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	117,281	$ 117,194
Accumulated Amortization and Impairment	(110,281)	(104,594)
Total	$ 7,000	$ 12,600
Weighted-Average Amortization Period	10 years	10 years
Patents and licenses
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 11,250	$ 11,247
Accumulated Amortization and Impairment	(11,008)	(10,669)
Total	$ 242	$ 578
Weighted-Average Amortization Period	7 years	7 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, net - Schedule of Estimated Future Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
2023 remainder of the year	$ 5,835
2024	1,407
Total	7,242
Developed Technology Amortization Expense
Finite-Lived Intangible Assets [Line Items]
2023 remainder of the year	5,600
2024	1,400
Total	7,000	$ 12,600
Patents and Licenses Amortization Expense
Finite-Lived Intangible Assets [Line Items]
2023 remainder of the year	235
2024	7
Total	$ 242	$ 578

Balance Sheet Details - Summary

Balance Sheet Details - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Cash and cash equivalents	$ 142,304	$ 81,309
Restricted cash	795	1,015
Total cash, cash equivalents and restricted cash	$ 143,099	$ 82,324	$ 75,377	$ 29,467

Balance Sheet Details - Invento

Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 16,876	$ 16,866
Work-in-process	447	945
Finished goods	12,427	15,245
Total inventory, gross	29,750	33,056
Allowance for excess and obsolete inventory	(7,670)	(11,583)
Inventories, net	$ 22,080	$ 21,473

Balance Sheet Details - Propert

Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 54,271	$ 53,069
Less accumulated depreciation and amortization	(32,038)	(29,029)
Construction-in-progress	2,289	1,612
Property and equipment, net	24,522	25,652
Laboratory and manufacturing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33,856	33,329
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,595	12,234
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,043	5,793
Office furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,777	$ 1,713

Balance Sheet Details - Accrued

Balance Sheet Details - Accrued Compensation and Related Benefits (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accrued incentive compensation	$ 3,694	$ 1,170
Accrued vacation	2,873	2,795
Accrued payroll taxes and other	1,276	1,174
Accrued restructuring	1,922	4,014
Accrued compensation and related benefits	$ 9,765	$ 9,153

Balance Sheet Details - Narrati

Balance Sheet Details - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Maximum contract value	$ 34,000,000
Capital expenditures	$ 22,200,000
Depreciation expenses		$ 900,000	$ 800,000	$ 1,800,000	$ 1,700,000
Accumulated depreciation expenses		6,000,000		6,000,000		$ 4,200,000
Carrying value of assets		$ 16,200,000		$ 16,200,000		$ 18,000,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 65,245	$ 64,892
Convertible Debt
Debt Instrument [Line Items]
Total debt	54,853	54,615
Secured Debt
Debt Instrument [Line Items]
Term loan, non-current	5,809	8,194
Term loan, current	4,583	2,083
2014 Notes | Convertible Debt
Debt Instrument [Line Items]
Total debt	568	568
2019 Notes | Convertible Debt
Debt Instrument [Line Items]
Total debt	$ 54,285	$ 54,047

Debt - Narrative (Details)

Debt - Narrative (Details)		1 Months Ended		2 Months Ended	3 Months Ended		6 Months Ended
	Aug. 02, 2018 USD ($)	Nov. 30, 2019 USD ($) $ / shares	Feb. 28, 2014	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) monthly_installment	Jun. 30, 2022 USD ($)	Apr. 04, 2022 USD ($)	Jan. 23, 2022 USD ($)	Aug. 02, 2021 USD ($)
Debt Instrument [Line Items]
Loss on Bridge Loans					$ 0	$ 3,064,000	$ 0	$ 13,719,000
Secured Debt
Debt Instrument [Line Items]
Face amount					$ 10,000,000		$ 10,000,000				$ 10,000,000
Interest rate on notes					4%		4%
Term loan, non-current					$ 10,400,000		$ 10,400,000
Term loan advances percentage							6.50%
Number of installments | monthly_installment							24
Convertible debt					600,000		$ 600,000
Secured Debt | Prime Rate
Debt Instrument [Line Items]
Additional interest rate							0.75%
Bridge Loans
Debt Instrument [Line Items]
Debt instrument, face amount, per instrument										$ 25,000,000
Change in fair value of Bridge Loans				$ 13,700,000
Fair value of Bridge Loans									$ 38,700,000	$ 25,000,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum ability to borrow under line of credit	$ 15,000,000
Percentage of eligible receivables	85%
Percentage of eligible inventory	50%
Line of credit outstanding					0		$ 0
Remaining borrowing capacity					$ 7,100,000		$ 7,100,000
2014 Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from debt issuance		$ 52,700,000
Total convertible notes, net		1,100,000
2014 Notes | Convertible Debt | Redemption, Period Three
Debt Instrument [Line Items]
Debt instrument redemption price			100%
2019 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Face amount		$ 55,000,000
Interest rate on notes		5.25%
Exchange Convertible Senior Notes due 2034 | Convertible Debt
Debt Instrument [Line Items]
Initial conversion rate of notes		0.3448276
Initial conversion price of stock (in usd per share) | $ / shares		$ 2.90
Exchange Convertible Senior Notes due 2034 | Convertible Debt | Redemption, Period Two
Debt Instrument [Line Items]
Debt redemption conditioned upon common stock value exceeding a percentage of the conversion price		130%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions		1 Months Ended
	Feb. 28, 2023 USD ($)	Aug. 31, 2022 USD ($)	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Renewal term			5 years
South San Francisco
Lessee, Lease, Description [Line Items]
Percentage of headquarters subleased	0.25	0.25
Lessor, operating lease, term of contract		39 months
Lessor, operating lease, remaining term of contract			30 months
Lessor, operating lease, sublease income expected		$ 4.7
Term of lease	77 months
Expected sublease income	$ 9.1

Fair Value of Financial Instr_3

Fair Value of Financial Instruments -Summary of Recurring Basis within the Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments:		$ 138,369
Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	$ 120,975	53,894
Short-term investments:		84,475
Total assets measured at fair value		138,369
Fair Value, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	120,975	53,894
Short-term investments:		84,475
Total assets measured at fair value		138,369
Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	0	0
Short-term investments:		0
Total assets measured at fair value		0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	0	0
Short-term investments:		0
Total assets measured at fair value		0
U.S. treasury securities | Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments:		84,475
U.S. treasury securities | Fair Value, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments:		84,475
U.S. treasury securities | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments:		0
U.S. treasury securities | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term investments:		0
Money market funds | Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	120,975	53,894
Money market funds | Fair Value, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	120,975	53,894
Money market funds | Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	0	0
Money market funds | Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents:	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments -Summary of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost		$ 138,871
Unrealized Gains		0
Unrealized Losses		(502)
Estimated Fair Value		138,369
Cash and cash equivalents:
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	$ 120,975	53,894
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	120,975	53,894
Short-term investments:
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost		84,977
Unrealized Gains		0
Unrealized Losses		(502)
Estimated Fair Value		84,475
Money market funds | Cash and cash equivalents:
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	120,975	53,894
Unrealized Gains	0
Unrealized Losses	0
Estimated Fair Value	$ 120,975	53,894
U.S. treasury securities | Short-term investments:
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost		84,977
Unrealized Gains		0
Unrealized Losses		(502)
Estimated Fair Value		$ 84,475

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Details)	Jun. 30, 2023 USD ($)
Fair Value Disclosures [Abstract]
Allowance for credit loss	$ 0

Mezzanine Equity - Narrative (D

Mezzanine Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 04, 2022	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Preferred stock, par value (in dollars per share)		$ 0.001	$ 0.001
Series B Preferred Stock
Debt Instrument [Line Items]
Sale of stock, consideration received on transaction	$ 225
Shares sold (in shares)	225,000
Debt conversion, converted instrument, shares issued (in shares)	30,559
Shares issued (shares)	255,559
Series B Preferred Stock | Casdin
Debt Instrument [Line Items]
Shares sold (in shares)	112,500
Preferred stock, par value (in dollars per share)	$ 0.001
Price per share (in dollars per share)	$ 1,000
Series B Preferred Stock | Viking
Debt Instrument [Line Items]
Shares sold (in shares)	112,500
Preferred stock, par value (in dollars per share)	$ 0.001
Price per share (in dollars per share)	$ 1,000

Mezzanine Equity- Preferred Sto

Mezzanine Equity- Preferred Stock (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Shareholders' Equity [Line Items]
Proceeds from Purchase Agreements			$ 0	$ 225,000
Proceeds from Bridge Loans			0	25,000
Change in fair value of Forward Purchase Agreements	$ 0	$ 22,289	0	60,081
Less equity issuance costs			0	$ (12,547)
Total Series B Redeemable Preferred Stock	311,253		311,253		$ 311,253
Series B Preferred Stock
Shareholders' Equity [Line Items]
Proceeds from Purchase Agreements			225,000		225,000
Proceeds from Bridge Loans			25,000		25,000
Change in fair value of Forward Purchase Agreements			60,081		60,081
Change in the fair value of Bridge Loans			13,719		13,719
Less equity issuance costs					(12,547)
Total Series B Redeemable Preferred Stock	$ 311,253		$ 311,253		$ 311,253

Shareholders_ Deficit - Narrati

Shareholders’ Deficit - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended		7 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Nov. 23, 2022
Equity [Abstract]
Stock repurchase program, authorized amount					$ 20,000,000
Repurchase of common stock (in shares)	1,208,200			2,880,993
Share repurchase amount	$ 2,400,000	$ 4,841,000	$ 0	$ 5,400,000
Treasury stock acquired, average cost per share (in dollars per share)	$ 1.97
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	14,600,000	14,600,000		14,600,000

Shareholders_ Deficit - Schedul

Shareholders’ Deficit - Schedule of Shares Reserved for Future Issuance Under Equity Compensation Plans (Details) shares in Thousands	Jun. 30, 2023 shares
Class of Stock [Line Items]
Number of remaining securities available for future issuance (in shares)	10,077
2022 Inducement Equity Incentive Plan
Class of Stock [Line Items]
Number of remaining securities available for future issuance (in shares)	147
2011 Equity Incentive Plan
Class of Stock [Line Items]
Number of remaining securities available for future issuance (in shares)	8,148
2017 Inducement Award Plan
Class of Stock [Line Items]
Number of remaining securities available for future issuance (in shares)	0
2017 Employee Stock Purchase Plan
Class of Stock [Line Items]
Number of remaining securities available for future issuance (in shares)	1,782
Securities To Be Issued Upon Exercise Of Options
Class of Stock [Line Items]
Securities to be issued (in shares)	9,006
Securities To Be Issued Upon Exercise Of Options | 2022 Inducement Equity Incentive Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	7,595
Securities To Be Issued Upon Exercise Of Options | 2011 Equity Incentive Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	1,351
Securities To Be Issued Upon Exercise Of Options | 2017 Inducement Award Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	60
Securities To Be Issued Upon Exercise Of Options | 2017 Employee Stock Purchase Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	0
Restricted Stock Units
Class of Stock [Line Items]
Securities to be issued (in shares)	5,360
Restricted Stock Units | 2022 Inducement Equity Incentive Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	1,350
Restricted Stock Units | 2011 Equity Incentive Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	4,008
Restricted Stock Units | 2017 Inducement Award Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	2
Restricted Stock Units | 2017 Employee Stock Purchase Plan
Class of Stock [Line Items]
Securities to be issued (in shares)	0

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to stock-based compensation arrangements	$ 13.9
Weighted average remaining contractual terms	2 years 8 months 12 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to stock-based compensation arrangements	$ 11.3
Weighted average remaining contractual terms	2 years 6 months
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance period	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance period	200%

Stock-based Compensation - Rest

Stock-based Compensation - Restricted and Performance Stock Units (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Units
Number of Nonvested and Outstanding Units
Beginning balance (in shares) | shares	7,120
Granted (in shares) | shares	696
Released (in shares) | shares	(1,849)
Forfeited (in shares) | shares	(607)
Ending balance (in shares) | shares	5,360
Weighted-Average Grant Date Fair Value per Unit
Beginning balance (in usd per share) | $ / shares	$ 2.58
Granted (in usd per share) | $ / shares	2.01
Released (in usd per share) | $ / shares	2.84
Forfeited (in usd per share) | $ / shares	2.36
Ending balance (in usd per share) | $ / shares	$ 2.45
Performance Shares
Number of Nonvested and Outstanding Units
Beginning balance (in shares) | shares	453
Granted (in shares) | shares	0
Released (in shares) | shares	(52)
Performance adjustment for 2020 awards (in shares) | shares	(401)
Ending balance (in shares) | shares	0
Weighted-Average Grant Date Fair Value per Unit
Beginning balance (in usd per share) | $ / shares	$ 4.81
Granted (in usd per share) | $ / shares	0
Released (in usd per share) | $ / shares	9.6
Performance adjustment for 2020 awards (in usd per share ) | $ / shares	4.19
Ending balance (in usd per share) | $ / shares	$ 0

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Number of Options
Beginning balance (in shares)	7,882
Options granted (in shares)	1,959
Options forfeited (in shares)	(835)
Ending balance (in shares)	9,006	7,882
Vested (in shares)	2,826
Unvested awards (in shares)	6,180
Weighted-Average Exercise Price per Option
Beginning balance (in usd per share)	$ 4.43
Options granted (in usd per share)	2.61
Options forfeited (in usd per share)	6.88
Ending balance (in usd per share)	3.81	$ 4.43
Vested (in usd per share)	4.36
Unvested awards (in usd per share)	$ 3.56
Weighted- Average Remaining Contractual Life (in years)
Contractual term	8 years 9 months 18 days	7 years 10 months 24 days
Vested	8 years 2 months 12 days
Unvested awards	9 years 1 month 6 days
Aggregate Intrinsic Value
Outstanding	$ 102	$ 0
Vested	22
Unvested awards	$ 80
Share price (in dollars per share)	$ 1.93

Stock-based Compensation - St_2

Stock-based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,114	$ 4,663	$ 6,262	$ 8,705
Cost of product revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	107	163	460	305
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	366	705	782	1,404
Selling, general and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,641	$ 3,795	$ 5,020	$ 6,996

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 301	$ (1,613)	$ 564	$ (2,187)

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	3 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of reporting segments	2

Segment Reporting - Schedule of

Segment Reporting - Schedule of Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 27,666	$ 18,777	$ 52,785	$ 45,281
Loss from operations	(17,449)	(38,563)	(34,042)	(66,066)
Restructuring and related charges	(2,267)	(300)	(3,417)	(1,690)
Corporate expenses
Segment Reporting Information [Line Items]
Loss from operations	(11,035)	(15,736)	(21,174)	(31,019)
Restructuring and related charges	(1,829)	(300)	(2,380)	(1,690)
Proteomics
Segment Reporting Information [Line Items]
Total revenue	18,088	10,418	33,288	24,198
Proteomics | Operating segments
Segment Reporting Information [Line Items]
Loss from operations	(3,710)	(12,350)	(9,191)	(17,699)
Restructuring and related charges	(287)	0	(478)	0
Genomics
Segment Reporting Information [Line Items]
Total revenue	9,578	8,359	19,497	21,083
Genomics | Operating segments
Segment Reporting Information [Line Items]
Loss from operations	(437)	(10,177)	(260)	(15,658)
Restructuring and related charges	$ (151)	$ 0	$ (559)	$ 0

Restructuring and Related Cha_3

Restructuring and Related Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and related charges	$ 2,267	$ 300	$ 3,417	$ 1,690

Restructuring and Related Cha_4

Restructuring and Related Charges- Summary of the Changes in Our Restructuring and Other Related Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Reserve [Roll Forward]
Beginning balance			$ 4,033
Restructuring and related charges	$ 2,267	$ 300	3,417	$ 1,690
Cash payments			(5,528)
Ending balance	1,922		1,922
Severance and other employee-related benefits
Restructuring Reserve [Roll Forward]
Beginning balance			4,014
Restructuring and related charges			1,346
Cash payments			(3,438)
Ending balance	1,922		1,922
Facility Costs
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring and related charges			1,980
Cash payments			(1,980)
Ending balance	0		0
Legal and consulting expenses
Restructuring Reserve [Roll Forward]
Beginning balance			19
Restructuring and related charges			91
Cash payments			(110)
Ending balance	$ 0		$ 0

Restructuring and Related Cha_5

Restructuring and Related Charges- Restructuring and Other Efficiency Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,267	$ 300	$ 3,417	$ 1,690
Corporate expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,829	300	2,380	1,690
Proteomics | Operating segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	287	0	478	0
Genomics | Operating segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 151	$ 0	$ 559	$ 0