Rapid Micro Biosystems (RPID) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-40592
Entity Registrant Name	Rapid Micro Biosystems, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8121647
Entity Address, Address Line One	1001 Pawtucket Boulevard West
Entity Address, Address Line Two	Suite 280
Entity Address, City or Town	Lowell
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01854
City Area Code	978
Local Phone Number	349-3200
Title of 12(b) Security	Class A common stock, $0.01 par value per share
Trading Symbol	RPID
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001380106
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		37,089,376
Class B Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		5,309,529

Condensed consolidated balance

Condensed consolidated balance sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 23,786	$ 27,064
Short-term investments	65,603	81,584
Accounts receivable	3,907	5,369
Inventory	20,193	21,187
Prepaid expenses and other current assets	1,556	3,372
Total current assets	115,045	138,576
Property and equipment, net	12,870	13,818
Right-of-use assets, net	6,489	7,063
Long-term investments	14,620	29,790
Other long-term assets	856	1,119
Restricted cash	284	284
Total assets	150,164	190,650
Current liabilities:
Accounts payable	3,271	5,428
Accrued expenses and other current liabilities	6,946	8,150
Deferred revenue	4,560	4,706
Lease liabilities, short-term	841	766
Total current liabilities	15,618	19,050
Lease liabilities, long-term	6,504	7,202
Other long-term liabilities	255	229
Total liabilities	22,377	26,481
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, $0.01 par value: 10,000,000 shares authorized at September 30, 2023 and December 31, 2022; zero shares issued and outstanding at September 30, 2023 and December 31, 2022	0	0
Additional paid-in capital	545,029	540,775
Accumulated deficit	(417,213)	(375,918)
Accumulated other comprehensive loss	(453)	(1,109)
Total stockholders’ equity	127,787	164,169
Total liabilities and stockholders’ equity	150,164	190,650
Class A Common stock
Stockholders’ equity:
Common stock	371	366
Class B Common stock
Stockholders’ equity:
Common stock	$ 53	$ 55

Condensed consolidated balanc_2

Condensed consolidated balance sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Class A Common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	210,000,000	210,000,000
Common stock, issued (in shares)	37,088,032	36,538,805
Common stock, outstanding (in shares)	37,088,032	36,538,805
Class B Common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	5,309,529	5,553,379
Common stock, outstanding (in shares)	5,309,529	5,553,379

Condensed consolidated statemen

Condensed consolidated statements of operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Total revenue	$ 6,145	$ 4,739	$ 16,182	$ 12,759
Costs and operating expenses:
Research and development	3,116	2,973	9,502	9,463
Sales and marketing	3,498	3,930	10,161	10,870
General and administrative	6,204	7,189	19,399	19,687
Total costs and operating expenses	20,594	21,625	60,557	58,718
Loss from operations	(14,449)	(16,886)	(44,375)	(45,959)
Other income (expense):
Interest income, net	1,093	575	3,169	947
Other (expense) income, net	(26)	(21)	(66)	70
Total other income (expense), net	1,067	554	3,103	1,017
Loss before income taxes	(13,382)	(16,332)	(41,272)	(44,942)
Income tax expense (benefit)	10	7	23	(583)
Net loss	$ (13,392)	$ (16,339)	$ (41,295)	$ (44,359)
Net loss per share - basic (in dollars per share)	$ (0.31)	$ (0.38)	$ (0.96)	$ (1.05)
Net loss per share - diluted (in dollars per share)	$ (0.31)	$ (0.38)	$ (0.96)	$ (1.05)
Weighted average common shares outstanding - basic (in shares)	43,080,095	42,517,992	42,985,184	42,404,243
Weighted average common shares outstanding - diluted (in shares)	43,080,095	42,517,992	42,985,184	42,404,243
Product
Revenue:
Total revenue	$ 4,200	$ 3,209	$ 10,693	$ 8,212
Costs and operating expenses:
Cost of revenue	5,691	5,627	15,361	13,220
Service
Revenue:
Total revenue	1,945	1,530	5,489	4,547
Costs and operating expenses:
Cost of revenue	$ 2,085	$ 1,906	$ 6,134	$ 5,478

Condensed consolidated statem_2

Condensed consolidated statements of comprehensive loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (13,392)	$ (16,339)	$ (41,295)	$ (44,359)
Other comprehensive income:
Unrealized gain (loss) on investments, net of tax	242	(473)	656	(1,376)
Comprehensive loss	$ (13,150)	$ (16,812)	$ (40,639)	$ (45,735)

Condensed consolidated statem_3

Condensed consolidated statements of stockholders' equity - USD ($) $ in Thousands	Total	Class A Common stock	Class B Common stock	Common stock Class A Common stock	Common stock Class B Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss
Balance at beginning of period (in shares) at Dec. 31, 2021				34,564,040	6,903,379
Balance at beginning of period at Dec. 31, 2021	$ 220,980			$ 346	$ 69	$ 535,693	$ (315,112)	$ (16)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock award liability accretion	154					154
Issuance of Class A common stock upon exercise of common stock options (in shares)				475,033
Issuance of Class A common stock upon exercise of common stock options	471			$ 5		466
Conversion of Class B common stock to Class A common stock (in shares)				1,350,000	(1,350,000)
Conversion of Class B common stock to Class A common stock	0			$ 14	$ (14)
Stock-based compensation expense	983					983
Net loss	(14,930)						(14,930)
Other comprehensive income (loss)	(588)							(588)
Balance at end of period (in shares) at Mar. 31, 2022				36,389,073	5,553,379
Balance at end of period at Mar. 31, 2022	207,070			$ 365	$ 55	537,296	(330,042)	(604)
Balance at beginning of period (in shares) at Dec. 31, 2021				34,564,040	6,903,379
Balance at beginning of period at Dec. 31, 2021	220,980			$ 346	$ 69	535,693	(315,112)	(16)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(44,359)
Balance at end of period (in shares) at Sep. 30, 2022				36,440,906	5,553,379
Balance at end of period at Sep. 30, 2022	179,016			$ 365	$ 55	539,459	(359,471)	(1,392)
Balance at beginning of period (in shares) at Mar. 31, 2022				36,389,073	5,553,379
Balance at beginning of period at Mar. 31, 2022	207,070			$ 365	$ 55	537,296	(330,042)	(604)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock award liability accretion	44					44
Stock-based compensation expense	1,258					1,258
Net loss	(13,090)						(13,090)
Other comprehensive income (loss)	(315)							(315)
Balance at end of period (in shares) at Jun. 30, 2022				36,389,073	5,553,379
Balance at end of period at Jun. 30, 2022	194,967			$ 365	$ 55	538,598	(343,132)	(919)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock under ESPP (in shares)				51,833
Issuance of Class A common stock under ESPP	159					159
Restricted stock award liability accretion	29					29
Stock-based compensation expense	673					673
Net loss	(16,339)						(16,339)
Other comprehensive income (loss)	(473)							(473)
Balance at end of period (in shares) at Sep. 30, 2022				36,440,906	5,553,379
Balance at end of period at Sep. 30, 2022	179,016			$ 365	$ 55	539,459	(359,471)	(1,392)
Balance at beginning of period (in shares) at Dec. 31, 2022		36,538,805	5,553,379	36,538,805	5,553,379
Balance at beginning of period at Dec. 31, 2022	164,169			$ 366	$ 55	540,775	(375,918)	(1,109)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock under ESPP (in shares)				125,536
Issuance of Class A common stock under ESPP	124			$ 1		123
Vesting of restricted stock units (in shares)				96,303
Vesting of restricted stock units	0			$ 1		(1)
Restricted stock award liability accretion	341					341
Issuance of Class A common stock upon exercise of common stock options (in shares)				7,896
Issuance of Class A common stock upon exercise of common stock options	6					6
Stock-based compensation expense	1,243					1,243
Net loss	(13,887)						(13,887)
Other comprehensive income (loss)	447							447
Balance at end of period (in shares) at Mar. 31, 2023				36,768,540	5,553,379
Balance at end of period at Mar. 31, 2023	152,443			$ 368	$ 55	542,487	(389,805)	(662)
Balance at beginning of period (in shares) at Dec. 31, 2022		36,538,805	5,553,379	36,538,805	5,553,379
Balance at beginning of period at Dec. 31, 2022	$ 164,169			$ 366	$ 55	540,775	(375,918)	(1,109)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of common stock options (in shares)	8,830
Net loss	$ (41,295)
Balance at end of period (in shares) at Sep. 30, 2023		37,088,032	5,309,529	37,088,032	5,309,529
Balance at end of period at Sep. 30, 2023	127,787			$ 371	$ 53	545,029	(417,213)	(453)
Balance at beginning of period (in shares) at Mar. 31, 2023				36,768,540	5,553,379
Balance at beginning of period at Mar. 31, 2023	152,443			$ 368	$ 55	542,487	(389,805)	(662)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)				4,954
Conversion of Class B common stock to Class A common stock (in shares)				243,850	(243,850)
Conversion of Class B common stock to Class A common stock	0			$ 2	$ (2)
Stock-based compensation expense	1,234					1,234
Net loss	(14,016)						(14,016)
Other comprehensive income (loss)	(33)							(33)
Balance at end of period (in shares) at Jun. 30, 2023				37,017,344	5,309,529
Balance at end of period at Jun. 30, 2023	139,628			$ 370	$ 53	543,721	(403,821)	(695)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock under ESPP (in shares)				60,501
Issuance of Class A common stock under ESPP	58			$ 1		57
Vesting of restricted stock units (in shares)				9,253
Issuance of Class A common stock upon exercise of common stock options (in shares)				934
Stock-based compensation expense	1,251					1,251
Net loss	(13,392)						(13,392)
Other comprehensive income (loss)	242							242
Balance at end of period (in shares) at Sep. 30, 2023		37,088,032	5,309,529	37,088,032	5,309,529
Balance at end of period at Sep. 30, 2023	$ 127,787			$ 371	$ 53	$ 545,029	$ (417,213)	$ (453)

Condensed consolidated statem_4

Condensed consolidated statements of cash flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (41,295)	$ (44,359)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	2,311	1,977
Stock-based compensation expense	3,728	2,914
Provision for excess and obsolete inventory	34	219
Noncash lease expense	899	846
Loss (gain) on disposal of property and equipment	0	19
Accretion on investments	(1,766)	(237)
Other	26	(116)
Changes in operating assets and liabilities:
Accounts receivable	1,462	346
Inventory	960	(5,472)
Prepaid expenses and other current assets	1,817	(152)
Other long-term assets	5	69
Accounts payable	(2,157)	(275)
Accrued expenses and other current liabilities	(1,462)	(2,770)
Deferred revenue	(146)	99
Net cash used in operating activities	(35,584)	(46,892)
Cash flows from investing activities:
Purchases of property and equipment	(1,427)	(5,929)
Purchases of investments	(50,928)	(155,340)
Maturity of investments	84,500	55,000
Net cash provided by (used in) investing activities	32,145	(106,269)
Cash flows from financing activities:
Proceeds from issuance of Class A common stock - stock option exercise	6	471
Proceeds from issuance of Class A common stock - employee stock purchase plan	182	159
Payments on finance lease obligations	(27)	(24)
Net cash provided by financing activities	161	606
Net decrease in cash, cash equivalents and restricted cash	(3,278)	(152,555)
Cash, cash equivalents and restricted cash at beginning of period	27,348	178,671
Cash, cash equivalents and restricted cash at end of period	24,070	26,116
Supplemental disclosure of cash flow information
Cash paid for interest	29	32
Supplemental disclosure of non-cash investing activities
Establishment of right of use operating assets	151	7,605
Purchases of property and equipment in accounts payable and accrued expenses	204	11
Supplemental disclosure of non-cash financing activities
Establishment of right of use finance assets	$ 0	$ 366

Nature of the business and basi

Nature of the business and basis of presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the business and basis of presentation	Nature of the business and basis of presentation Rapid Micro Biosystems, Inc. (the “Company”) was incorporated under the laws of the State of Delaware on December 29, 2006. The Company develops, manufactures, markets and sells Growth Direct systems (“Systems”) proprietary consumables, laboratory information management system (“LIMS”) connection software, and services to address rapid microbial analysis used for quality control in the manufacture of pharmaceuticals, medical devices and personal care products. The Company’s technology uses a highly sensitive camera and the natural auto fluorescence of living cells to identify and quantify microbial growth faster and more accurately than the traditional method, which relies on the human eye. The Company currently sells to customers in North America, Europe and the Asia-Pacific region. The Company is headquartered in Lowell, Massachusetts. Basis of presentation These condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries in Germany and Switzerland. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements for the year ended December 31, 2022. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of September 30, 2023 and the results of its operations and its cash flows for the three and nine months ended September 30, 2023 and 2022. The financial data and other information disclosed in these notes related to the three and nine months ended September 30, 2023 and 2022 are also unaudited. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of results to be expected for the year ending December 31, 2023, any other interim periods, or any future year or period. Liquidity The Company has incurred recurring losses and net cash outflows from operations since its inception. The Company expects to continue to generate significant operating losses for the foreseeable future. The Company expects that its existing cash and cash equivalents and investments will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months following the date these unaudited interim condensed consolidated financial statements were issued.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, calculating the standalone selling price for revenue recognition, the valuation of inventory, and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific and relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. There have been no significant changes to the significant accounting policies during the three and nine months ended September 30, 2023, as compared to the significant accounting policies disclosed in Note 2 of the audited consolidated financial statements as of December 31, 2022 filed with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Risk of concentrations of credit, significant customers and significant suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains its cash and cash equivalents and investments with financial institutions that management believes to be of high credit quality. The Company has not experienced any other-than-temporary losses with respect to its cash equivalents and investments and does not believe that it is subject to unusual credit risk beyond the credit risk associated with commercial banking relationships. Significant customers are those which represent more than 10% of the Company’s total revenue or accounts receivable balance at each respective balance sheet date. The following table presents customers that represent 10% or more of the Company’s total revenue: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 14.7 % 23.1 % 18.2 % 22.2 % Customer B 11.4 % * * * Customer C 10.2 % * * * Customer D * 19.5 % * * 36.3 % 42.6 % 18.2 % 22.2 % ____________________________ * – less than 10% The following table presents customers that represent 10% or more of the Company’s accounts receivable: September 30, December 31, 2023 2022 Customer A 11.0 % 21.4 % Customer E 19.7 % * Customer F 17.6 % * Customer G * 11.8 % Customer H * 16.7 % 48.3 % 49.9 % ____________________________ * – less than 10% The Company relies on third parties for the supply and manufacture of certain components of its products as well as third-party logistics providers. There are no significant concentrations around a single third-party supplier or manufacturer for the three and nine months ended September 30, 2023 or 2022. Cash equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents that are readily convertible to cash are stated at cost, which approximates fair value. At September 30, 2023 and December 31, 2022, the Company held cash of $0.3 million and $0.2 million, respectively, in banks located outside of the United States. Restricted cash As of September 30, 2023 and December 31, 2022, the Company was required to maintain guaranteed investment certificates of $0.3 million with maturities of three months to one year that are subject to an insignificant risk of changes in value. The guaranteed investment certificates are held for the benefit of the landlord in connection with operating leases which have remaining terms of greater than one year and are classified as restricted cash (non-current) on the Company’s consolidated balance sheets. Software Development Costs The Company accounts for software development costs for internal-use software under the provisions of ASC 350-40, “Internal-Use Software ” (“ASC 350”). Accordingly, certain costs to develop internal-use computer software are capitalized, provided these costs are expected to be recoverable. The Company had $0.8 million of software development costs, net of amortization, capitalized in other long-term assets at September 30, 2023. These capitalized costs are being amortized on a straight-line basis over the initial subscription term of five years. For each of the three months ended September 30, 2023 and 2022, there was $0.1 million, and for each of the nine months ended September 30, 2023 and 2022, there was $0.3 million of amortization expense related to capitalized software development costs recorded in the condensed consolidated statements of operations. Fair value measurements Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company’s cash equivalents, short-term and long-term investments are carried at fair value, determined according to the fair value hierarchy described above (see Note 3). The carrying values of the Company’s accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities approximate their fair values due to the short-term nature of these assets and liabilities. Product warranties The Company offers a one-year limited assurance warranty on System sales, which is included in the selling price. The accrual for these warranty obligations is included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. The following table presents a summary of changes in the amount reserved for warranty cost (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 526 $ 936 $ 872 $ 598 Warranty provisions 171 295 171 646 Warranty repairs — (320) (346) (333) Balance, end of period $ 697 $ 911 $ 697 $ 911 Segment information The Company determined its operating segment after considering the Company’s organizational structure and the information regularly reviewed and evaluated by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company has determined that its CODM is its Chief Executive Officer. The CODM reviews the financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. On the basis of these factors, the Company determined that it operates and manages its business as one operating segment, that develops, manufactures, markets and sells Systems and related LIMS connection software, consumables and services; and accordingly has one reportable segment for financial reporting purposes. Substantially all of the Company’s long-lived assets are held in the United States. Revenue recognition Remaining performance obligations The Company does not disclose the value of remaining performance obligations for (i) contracts with an original contract term of one year or less, (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice when that amount corresponds directly with the value of services performed, and (iii) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied distinct service that forms part of a single performance obligation. The Company does not have material remaining performance obligations associated with contracts with terms greater than one year. Contract balances from contracts with customers Contract assets arise from customer arrangements when revenue recognized exceeds the amount billed to the customer and the Company’s right to payment is conditional and not only subject to the passage of time. The Company had $0.1 million in contract assets as of both September 30, 2023 and December 31, 2022, included in prepaid expenses and other current assets. Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which it has received consideration (or the amount is due) from the customer. The Company has a contract liability related to service revenue, which consists of amounts that have been invoiced but that have not been recognized as revenue. Amounts expected to be recognized as revenue within 12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as non-current deferred revenue. The Company did not record any non-current deferred revenue as of September 30, 2023 or December 31, 2022. Deferred revenue was $4.6 million and $4.7 million at September 30, 2023 and December 31, 2022, respectively. Revenue recognized during the three months ended September 30, 2023 and 2022 that was included in deferred revenue at the prior period-end was $1.2 million and $0.5 million, respectively. Revenue recognized during the nine months ended September 30, 2023 and 2022 that was included in deferred revenue at the prior period-end was $3.3 million and $2.3 million, respectively. Disaggregated revenue The Company disaggregates revenue based on the recurring and non-recurring nature of the underlying sale. Recurring revenue includes sales of consumables and service contracts. The Company considers these to be recurring revenues because customers typically place purchase orders on a periodic basis as they use their Growth Direct system over time. These arrangements typically contain a single performance obligation and thus the entire consideration to which the Company is entitled is allocated entirely to that performance obligation. Non-recurring revenue includes sales of systems, LIMS connection software, validation services, and field services, and typically contains multiple performance obligations. The Company considers these to be non-recurring revenues because customers typically place single purchase orders for a bundle of products and services on a one-time or infrequent basis. For these arrangements, significant judgment is applied in identifying the distinct performance obligations, determination of the transaction price, transaction price allocation, and determination of standalone selling price for each of the distinct performance obligations. The following table presents the Company’s revenue by the recurring or non-recurring nature of the revenue stream (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Product and service revenue — recurring $ 3,410 $ 2,908 $ 10,255 $ 8,066 Product and service revenue — non-recurring 2,735 1,831 5,927 4,693 Total revenue $ 6,145 $ 4,739 $ 16,182 $ 12,759 The following table presents the Company’s revenue by customer geography (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 2,665 $ 2,091 $ 6,987 $ 6,452 Switzerland 1,058 608 2,991 2,096 Germany 478 1,413 1,392 2,238 Japan 167 — 1,621 — All other countries 1,777 627 3,191 1,973 Total revenue $ 6,145 $ 4,739 $ 16,182 $ 12,759 Advertising costs Advertising costs are expensed as incurred and are included in sales and marketing expenses in the condensed consolidated statements of operations. Advertising costs were less than $0.1 million during the three months ended September 30, 2023 and 2022, and were $0.2 million and less than $0.1 million during the nine months ended September 30, 2023 and 2022, respectively. Stock-based compensation The Company measures all stock-based awards granted to employees, officers and directors based on their fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company issues stock-based awards with service-based vesting conditions only and stock-based awards with both service-based and Company performance vesting conditions, and records the expense for these awards using the straight-line method. Forfeitures are accounted for prospectively as they occur. The Company measures all restricted stock and restricted stock units granted to employees based on the common stock value on the date of grant. The purchase price of the restricted stock is the common stock value on the date of grant. Recently adopted accounting pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”). The new standard adjusts the accounting for assets held at amortized costs basis, including marketable securities accounted for as available for sale, and trade receivables. The standard eliminates the probable initial recognition threshold and requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. The new standard was effective for the Company beginning January 1, 2023 and primarily impacted trade accounts receivable. The amendments in this update were adopted using a modified retrospective transition method as of January 1, 2023, which had no cumulative impact to retained earnings. The adoption of this new standard had no material impact on the Company's unaudited consolidated financial statements. The Company's concentrations of credit risks are limited due to the large number of customers and their dispersion across a number of geographic areas. Substantially all of the Company's trade receivables are concentrated in the pharmaceuticals industry in the U.S. and internationally or with distributors who operate in international markets. The Company's historical credit losses have not been significant due to this dispersion and the financial stability of the Company's customers. The Company considers its historical credit losses to be immaterial to its business and, therefore, has not provided all the disclosures otherwise required by the standard. The Company updated its accounting policy disclosure for accounts receivable as follows: Accounts receivable are customer obligations that are unconditional. Accounts receivable are presented net of an allowance for doubtful accounts for expected credit losses, which represents an estimate of amounts that may not be collectible. The Company performs ongoing credit evaluations of its customers and, if necessary, provides an allowance for doubtful accounts and expected credit losses. A provision to the allowances for doubtful accounts for expected credit losses is recorded based on factors including the length of time the receivables are past due, the current business environment, the geographic market, and the Company’s historical experience. Provisions to the allowances for doubtful accounts for expected credit losses are recorded to general and administrative expenses. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues collection of the receivable. The Company does not have any off-balance-sheet credit exposure related to customers. As of September 30, 2023 and December 31, 2022, the allowance for doubtful accounts for expected credit losses was zero. Recently issued accounting pronouncements The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected not to “opt out” of the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the newer revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies.

Fair value of financial assets

Fair value of financial assets and liabilities	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair value of financial assets and liabilities	Fair value of financial assets and liabilities The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands): Fair value measurements as of September 30, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 18,473 $ — $ — $ 18,473 Short-term investments 59,978 5,625 — 65,603 Long-term investments 14,620 — — 14,620 $ 93,071 $ 5,625 $ — $ 98,696 Fair value measurements at December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 22,072 $ — $ — $ 22,072 Short-term investments 81,093 491 — 81,584 Long-term investments 26,431 3,359 — 29,790 $ 129,596 $ 3,850 $ — $ 133,446 During the three and nine months ended September 30, 2023 and 2022, there were no transfers between Level 1, Level 2 and Level 3. Valuation of short-term and long-term investments U.S. Treasury bills and notes included in short-term and long-term investments were valued by the Company using quoted prices in active markets for identical securities, which represents a Level 1 measurement within the fair value hierarchy. The Company's certificates of deposit included in short-term and long-term investments were valued using quoted prices for similar assets in active markets (or identical assets in inactive markets), which represent a Level 2 measurement within the fair value hierarchy.

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Short-term and long-term investments by investment type consisted of the following (in thousands): September 30, 2023 Amortized Gross Gross Fair Short-term investments Certificates of Deposit $ 5,670 $ — $ (45) $ 5,625 U.S. Government Treasury Bills 16,206 — (10) 16,196 U.S. Government Treasury Notes 44,137 — (355) 43,782 $ 66,013 $ — $ (410) $ 65,603 Long-term Investments U.S. Government Treasury Notes - Maturity Between One and Two Years 14,663 — (43) 14,620 $ 14,663 $ — $ (43) $ 14,620 December 31, 2022 Amortized Gross Gross Fair Short-term investments Certificates of Deposit $ 491 $ — $ — $ 491 U.S. Government Treasury Bills 32,115 1 (40) 32,076 U.S. Government Treasury Notes 49,625 — (608) 49,017 $ 82,231 $ 1 $ (648) $ 81,584 Long-term Investments Certificates of Deposit $ 3,391 $ 4 $ (36) $ 3,359 U.S. Government Treasury Notes - Maturity Between One and Two Years 26,861 1 (431) 26,431 $ 30,252 $ 5 $ (467) $ 29,790

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following (in thousands): September 30, December 31, 2023 2022 Raw materials $ 14,225 $ 15,014 Work in process 579 1,599 Finished goods 5,389 4,574 Total $ 20,193 $ 21,187 Raw materials, work in process and finished goods were net of adjustments to net realizable value of $0.7 million and $1.1 million as of September 30, 2023 and December 31, 2022, respectively.

Prepaid expenses and other curr

Prepaid expenses and other current assets	9 Months Ended
	Sep. 30, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses and other current assets	Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, 2023 2022 Prepaid insurance $ 38 $ 1,500 Contract asset 69 112 Deposits 647 1,055 Other 802 705 $ 1,556 $ 3,372

Property and equipment, net

Property and equipment, net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2023 2022 Manufacturing and laboratory equipment $ 13,687 $ 13,408 Computer hardware and software 1,870 1,651 Office furniture and fixtures 588 589 Leasehold improvements 8,551 8,260 Construction-in-process 1,789 1,712 26,485 25,620 Less: Accumulated depreciation (13,615) (11,802) $ 12,870 $ 13,818

Accrued expenses and other curr

Accrued expenses and other current liabilities	9 Months Ended
	Sep. 30, 2023
Accrued Liabilities, Current [Abstract]
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2023 2022 Accrued employee compensation and benefits expense $ 4,547 $ 3,217 Accrued vendor expenses 1,279 3,212 Accrued warranty expense 697 872 Accrued taxes 287 329 Other 136 520 $ 6,946 $ 8,150 On August 11, 2022, the board of directors of the Company approved an organizational restructuring plan (the “Restructuring Plan”) to right-size its cost structure based on its lowered 2022 outlook. The Company will continue to invest in key growth initiatives including enhancing commercial execution and key product development programs that are expected to drive future revenue growth. The Restructuring Plan involved an approximately 20% reduction in the Company’s workforce, including employees, contractors and temporary employees, which is largely focused on non-commercial functions. The Company recorded a restructuring charge of $1.1 million in the third quarter of 2022 primarily related to severance, employee benefits, outplacement and related costs under the Restructuring Plan. The Company made no payments during the three months ended September 30, 2023 and made payments of $0.5 million during the nine months ended September 30, 2023 related to the Restructuring Plan. The Company had no remaining payments as of September 30, 2023.

Common stock and common stock w

Common stock and common stock warrants	9 Months Ended
	Sep. 30, 2023
Common stock and common stock warrants
Common stock and common stock warrants	Common stock and common stock warrants As of September 30, 2023 and December 31, 2022, the Company’s restated certificate of incorporation authorized the issuance of Class A and Class B common stock. Each share of Class A common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. The Company’s Class B common stock is non-voting. Class A and Class B common stockholders are entitled to receive dividends, as may be declared by the board of directors, if any, subject to the preferential dividend rights of Preferred Stock. As of September 30, 2023, no cash dividends had been declared or paid. As of September 30, 2023, the Company had reserved 22,091,879 shares of Class A common stock for the exercise of outstanding stock options and warrants, vesting of restricted stock units, the number of shares remaining available for grant under the Company’s 2021 Incentive Award Plan (see Note 10), the number of shares available for purchase under the Company’s Employee Stock Purchase Plan (see Note 10) and the conversion of Class B common stock. As of September 30, 2023 and December 31, 2022, outstanding warrants to purchase common stock consisted of the following: Issuance date Contractual term Balance sheet Shares of Weighted average (in years) July 24, 2017 10 Equity 17,194 $ 292.81 April 12, 2018 10 Equity 30,000 $ 1.00 July 14, 2021 10 Equity 975,109 $ 1.46 1,022,303

Stock-based compensation

Stock-based compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation 2010 Stock Option and Grant Plan The Company’s 2010 Stock Option and Grant Plan (the “2010 Plan”) provided for the Company to grant incentive stock options or nonqualified stock options, restricted stock awards and other stock-based awards to employees, officers, directors and consultants of the Company. Following the effectiveness of the Company's initial public offering ("IPO"), no additional awards are being granted under the 2010 Plan and shares of existing outstanding options that were issued under the 2010 Plan and are forfeited or canceled will be available for grant under the 2021 Incentive Award Plan. 2021 Incentive Award Plan In July 2021, the board of directors adopted, and the Company’s stockholders approved, the 2021 Incentive Award Plan (the “2021 Plan”). The 2021 Plan provides for the grant of stock options, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock-based and cash-based awards. The 2021 Plan has a term of ten years. The aggregate number of shares of Class A common stock available for issuance under the 2021 Plan is equal to the sum of (i) 4,200,000 shares; (ii) any shares which are subject to the 2010 Plan awards that become available for issuance under the 2021 Plan; and (iii) an annual increase for ten years on the first day of each calendar year beginning on January 1, 2022, equal to the lesser of (A) 5% of the aggregate number of shares of Class A common stock outstanding on the last day of the immediately preceding calendar year and (B) such smaller amount of shares as determined by the board of directors. No more than 33,900,000 shares of Class A common stock may be issued under the 2021 Plan upon the exercise of incentive stock options. As of September 30, 2023, there are 3,212,318 shares available for issuance under the 2021 Plan. The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Risk-free interest rate 4.2 % 3.2 % 3.9 % 2.1 % Expected term (in years) 6.1 6.1 6.0 6.0 Expected volatility 47.1 % 44.4 % 47.1 % 43.2 % Expected dividend yield 0 % 0 % 0 % 0 % Stock options The following table summarizes the Company’s stock option activity since December 31, 2022: Number of Weighted Weighted Aggregate (in years) (in thousands) Outstanding as of December 31, 2022 5,041,308 $ 5.05 7.55 $ 532 Granted 1,994,222 1.17 Exercised (8,830) 0.82 Expired (80,348) 5.92 Forfeited (150,803) 2.60 Outstanding as of September 30, 2023 6,795,549 $ 2.66 7.57 $ 513 Options vested and expected to vest as of September 30, 2023 6,795,549 $ 2.66 7.57 $ 513 Options exercisable as of September 30, 2023 3,583,257 $ 2.71 6.44 $ 349 The aggregate intrinsic value of options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s Class A common stock for those options that had exercise prices lower than such fair value. The intrinsic value of stock options exercised during the nine months ended September 30, 2023 and 2022 was less than $0.1 million and $2.8 million, respectively. The weighted average grant-date fair value per share of stock options granted during the three months ended September 30, 2023 and 2022 was $0.49 and $1.72, respectively, and during the nine months ended September 30, 2023 and 2022 was $0.59 and $3.20, respectively. In March 2023, the board of directors approved a one-time repricing of certain outstanding stock options held by non-executive employees. As a result of the repricing, the exercise prices of eligible vested and unvested stock options were adjusted to reflect the fair market value of Class A common stock on the date of the repricing. The repricing was immaterial to the Company's financial results. Restricted stock In February 2021, the Company granted 248,903 shares of restricted stock to an employee under the 2010 Plan with a four-year vesting term. In connection with the grant, the employee paid $0.5 million, which represents the $2.10 per share fair value of the common stock on the date of the restricted stock grant. At September 30, 2023 and December 31, 2022, the Company had zero and $0.3 million, respectively, in unvested restricted common stock liability included in other current liabilities and other long-term liabilities, respectively, related to these shares. The restricted common stock is no longer vesting due to the employee's termination and the Company waived its repurchase right during the first quarter of 2023, which resulted in all then-outstanding and unvested shares becoming fully vested. The following table summarizes the Company’s restricted stock activity since December 31, 2022: Number of Weighted Unvested as of December 31, 2022 155,565 $ 2.10 Granted — Vested (155,565) $ 2.10 Forfeited — Unvested as of September 30, 2023 — $ — Restricted stock units Restricted stock unit grants to employees typically have a three-year service-based vesting term in which vesting occurs annually on the anniversary of the grant date. During the nine months ended September 30, 2023, the Company granted restricted stock units with service-based vesting conditions as well as restricted stock units with a combination of service-based and Company performance-based vesting conditions. The Company expenses the fair value of the restricted stock units over the expected vesting period and accounts for forfeitures prospectively as they occur. The following table summarizes the Company's restricted stock units activity since December 31, 2022: Number of Weighted Unvested as of December 31, 2022 532,121 $ 7.06 Granted 1,461,458 $ 1.22 Vested (161,989) $ 7.42 Forfeited (49,189) $ 3.08 Unvested as of September 30, 2023 1,782,401 $ 2.35 The weighted average grant-date fair value per share of restricted stock units granted during the three months ended September 30, 2023 and 2022 was $0.97 and $3.64, respectively, and during the nine months ended September 30, 2023 and 2022 was $1.22 and $7.36, respectively. 2021 Employee Stock Purchase Plan In July 2021, the board of directors adopted, and the Company’s stockholders approved, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which became effective in connection with the IPO of Class A common stock. The aggregate number of shares of Class A common stock available for issuance under the 2021 ESPP is equal to (i) 400,000 shares and (ii) an annual increase for ten years on the first day of each calendar year beginning on January 1, 2022, equal to the lesser of (A) 1% of the aggregate number of shares of Class A common stock outstanding on the last day of the immediately preceding calendar year and (B) such smaller amount of shares as determined by the board of directors. No more than 6,300,000 shares of Class A common stock may be issued under the 2021 ESPP. Under the 2021 ESPP, eligible employees may purchase shares of the Company’s common stock through payroll deductions of up to 15% of eligible compensation during an offering period. Generally, each offering period will be for 6 months as determined by the Company's board of directors. In no event may an employee purchase more than 100,000 shares per offering period based on the closing price on the first trading date of an offering period or the last trading date of an offering period, or more than $25,000 worth of stock during any calendar year. The purchase price for shares to be purchased under the 2021 ESPP is 85% of the lesser of the market price of the Company's common stock on the first trading date of an offering period or on any purchase date during an offering period (March 14 or September 14). During the nine months ended September 30, 2023, there were 186,037 shares of Class A common stock purchased under the 2021 ESPP. The Company recognized less than $0.1 million of expense related to the 2021 ESPP for each of the three and nine months ended September 30, 2023 and 2022. As of September 30, 2023, 873,158 shares were available for future issuance under the 2021 ESPP. The Company estimates the fair value of shares issued to employees under the 2021 ESPP using the Black-Scholes option-pricing model. The following weighted average assumptions were used in the calculation of fair value of shares under the 2021 ESPP at the grant date for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Risk-free interest rate 5.5 % 3.8 % 5.3 % 2.6 % Expected term (in years) 0.5 0.5 0.5 0.5 Expected volatility 47.7 % 53.3 % 47.8 % 49.1 % Expected dividend yield 0 % 0 % 0 % 0 % 2023 Inducement Plan In May 2023, the board of directors adopted the 2023 Inducement Plan (the “Inducement Plan”) pursuant to which the Company reserved 330,000 shares of Class A common stock to be used exclusively for grants of equity-based awards to individuals who were not previously employees or directors of the Company as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the Nasdaq Listing Rules. The Inducement Plan provides for the grant of equity-based awards in the form of nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, and dividend equivalent rights. The Inducement Plan was adopted by the board of directors without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. In May 2023, pursuant to the Inducement Plan, the Company granted inducement awards to the Company's Senior Vice President Sales & Marketing in the form of an option to purchase 220,000 shares of the Company's Class A common stock with an exercise price per share of $0.83 and 110,000 restricted stock units. The option and restricted stock unit awards were granted as inducements material to the commencement of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4). As of September 30, 2023, no shares were available for future issuance under the Inducement Plan. Stock-based compensation Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 159 $ 118 $ 502 $ 387 Research and development 135 93 398 266 Sales and marketing 119 93 385 370 General and administrative 838 369 2,443 1,891 Total stock-based compensation expense $ 1,251 $ 673 $ 3,728 $ 2,914 As of September 30, 2023, total unrecognized compensation expense related to unvested stock options held by employees and directors was $5.3 million, which is expected to be recognized over a weighted average period of 2.0 years. Additionally, unrecognized compensation expense related to unvested restricted stock units held by employees and directors was $3.1 million, which is expected to be recognized over a weighted average period of 2.1 years.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes During the three and nine months ended September 30, 2023 and 2022, the pretax losses incurred by the Company, as well as the research and development tax credits generated, received no corresponding tax benefit because the Company concluded that it is more likely than not that the Company will be unable to realize the value of any resulting deferred tax assets. The Company will continue to assess its position in future periods to determine if it is appropriate to reduce a portion of its valuation allowance in the future. The Company’s tax provision and the resulting effective tax rate for interim periods is determined based upon its estimated annual effective tax rate, adjusted for the effect of discrete items arising in that quarter. The impact of such discrete items could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings or losses versus annual projections. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, a cumulative adjustment is made in that quarter. The Company has evaluated the positive and negative evidence bearing upon its ability to realize its deferred tax assets, which primarily consist of net operating loss carryforwards. The Company has considered its history of cumulative net losses, estimated future taxable income and prudent and feasible tax planning strategies and has concluded that it is more likely than not that the Company will not realize the benefits of its deferred tax assets. As a result, as of September 30, 2023 and December 31, 2022 the Company has recorded a full valuation allowance against its net deferred tax assets. The Company files income tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by U.S. federal, state and international jurisdictions, where applicable. There are currently no pending tax examinations in the U.S., and the Company has not received notice of examination from any jurisdictions in the U.S. As a result of a favorable outcome related to the tax examination for our German subsidiary, we recorded an income tax benefit of $0.6 million for the nine months ended September 30, 2022.

Net loss per share

Net loss per share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net loss per share	Net loss per share As of September 30, 2023, the Company had Class A common stock and Class B common stock. Both classes have the same rights to the Company’s earnings and neither of the shares have any prior or senior rights to dividends to other shares. The Company reported a net loss for the three and nine months ended September 30, 2023 and 2022, as such basic net loss per share was the same as diluted net loss per share. Basic and diluted net loss per share was calculated as follows (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss $ (13,392) $ (16,339) $ (41,295) $ (44,359) Denominator: Weighted average Class A common shares outstanding—basic and diluted 37,770,566 36,964,613 37,539,885 36,619,187 Weighted average Class B common shares outstanding—basic and diluted 5,309,529 5,553,379 5,445,299 5,785,056 Total shares for EPS—basic and diluted 43,080,095 42,517,992 42,985,184 42,404,243 Net loss per share attributable to Class A common stockholders—basic and diluted $ (0.31) $ (0.38) $ (0.96) $ (1.05) Net loss per share attributable to Class B common stockholders—basic and diluted $ (0.31) $ (0.38) $ (0.96) $ (1.05) The Company’s potentially dilutive securities, which include stock options, restricted stock, restricted stock units, and common stock warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect: Three and Nine Months Ended 2023 2022 Options to purchase common stock 6,795,549 5,242,448 Unvested restricted common stock 1,782,401 677,112 Warrants to purchase common stock 286,324 286,324 Options to purchase common stock under ESPP 22,051 8,107 8,886,325 6,213,991

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. See Note 2 for more information on the Company’s accounting policies for leases. The Company leases office and manufacturing space under operating lease agreements that have initial terms ranging from approximately 8 to 10 years. The Company leases furniture under a financing lease agreement that has an initial term of approximately 8 years. Some leases include one or more options to renew, generally at the Company's sole discretion, with renewal terms that can extend the lease term by up to 5 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. Options to extend a lease are included in the lease term when it is reasonably certain that the Company will exercise the option. Options to terminate a lease are excluded from the lease term when it is reasonably certain that the Company will not exercise the option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees. Supplemental cash flow information related to leases is as follows (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 956 $ 893 Operating cash outflows - payments on financing leases $ 29 $ 32 Financing cash outflows - payments on financing leases $ 27 $ 24 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 151 $ 7,605 Financing leases $ — $ 366 Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands): September 30, 2023 December 31, 2022 Operating Leases: Operating lease assets $ 6,209 $ 6,746 Accrued expenses and other current liabilities $ 801 $ 729 Operating lease liabilities 6,231 6,898 Total operating lease liabilities $ 7,032 $ 7,627 Financing Leases: Office furniture and fixtures $ 386 $ 386 Accumulated depreciation (106) (69) Net property, plant and equipment $ 280 $ 317 Current portion of long-term debt $ 40 $ 37 Long-term debt 273 304 Total financing lease liabilities $ 313 $ 341 Weighted-average remaining lease term - operating leases (in years): 5.79 6.54 Weighted-average remaining lease term - financing leases (in years): 5.75 6.50 Weighted-average discount rate - operating leases: 3.8 % 3.7 % Weighted-average discount rate - financing leases: 12.0 % 12.0 % The components of lease expense were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 314 $ 297 $ 899 $ 847 Financing lease cost - amortization of right-of-use asset 12 12 37 37 Financing lease cost - interest on lease liability 9 11 29 32 Short-term lease cost — 14 — 45 Variable lease cost 172 138 522 454 Total lease cost $ 507 $ 472 $ 1,487 $ 1,415 Operating lease cost is recognized on a straight-line basis over the lease term. Total rent expense, including the Company’s share of the lessors’ operating expenses, was $0.5 million and $0.4 million for the three months ended September 30, 2023 and 2022, respectively, and was $1.4 million and $1.3 million for the nine months ended September 30, 2023 and 2022, respectively. Financing lease cost includes asset amortization on a straight-line basis over the lease term and interest accretion calculated using the effective interest method. Total financing lease asset depreciation and interest expense was less than $0.1 million for the three and nine months ended September 30, 2023 and 2022. Maturities of the Company’s operating lease liabilities as of September 30, 2023 were as follows (in thousands): Operating Lease Maturities 2023 (excluding the nine months ended September 30) $ 329 2024 1,334 2025 1,368 2026 1,401 2027 1,435 Thereafter 2,273 Total lease payments $ 8,140 Less imputed interest (837) Total present value of lease liabilities $ 7,303 Maturities of the Company’s financing lease liability as of September 30, 2023 were as follows (in thousands): Financing Lease Maturities 2023 (excluding the nine months ended September 30) $ 19 2024 75 2025 75 2026 75 2027 75 Thereafter 113 Total lease payments $ 432 Less imputed interest (119) Total present value of lease liabilities $ 313
Leases	Leases The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. See Note 2 for more information on the Company’s accounting policies for leases. The Company leases office and manufacturing space under operating lease agreements that have initial terms ranging from approximately 8 to 10 years. The Company leases furniture under a financing lease agreement that has an initial term of approximately 8 years. Some leases include one or more options to renew, generally at the Company's sole discretion, with renewal terms that can extend the lease term by up to 5 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. Options to extend a lease are included in the lease term when it is reasonably certain that the Company will exercise the option. Options to terminate a lease are excluded from the lease term when it is reasonably certain that the Company will not exercise the option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees. Supplemental cash flow information related to leases is as follows (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 956 $ 893 Operating cash outflows - payments on financing leases $ 29 $ 32 Financing cash outflows - payments on financing leases $ 27 $ 24 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 151 $ 7,605 Financing leases $ — $ 366 Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands): September 30, 2023 December 31, 2022 Operating Leases: Operating lease assets $ 6,209 $ 6,746 Accrued expenses and other current liabilities $ 801 $ 729 Operating lease liabilities 6,231 6,898 Total operating lease liabilities $ 7,032 $ 7,627 Financing Leases: Office furniture and fixtures $ 386 $ 386 Accumulated depreciation (106) (69) Net property, plant and equipment $ 280 $ 317 Current portion of long-term debt $ 40 $ 37 Long-term debt 273 304 Total financing lease liabilities $ 313 $ 341 Weighted-average remaining lease term - operating leases (in years): 5.79 6.54 Weighted-average remaining lease term - financing leases (in years): 5.75 6.50 Weighted-average discount rate - operating leases: 3.8 % 3.7 % Weighted-average discount rate - financing leases: 12.0 % 12.0 % The components of lease expense were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 314 $ 297 $ 899 $ 847 Financing lease cost - amortization of right-of-use asset 12 12 37 37 Financing lease cost - interest on lease liability 9 11 29 32 Short-term lease cost — 14 — 45 Variable lease cost 172 138 522 454 Total lease cost $ 507 $ 472 $ 1,487 $ 1,415 Operating lease cost is recognized on a straight-line basis over the lease term. Total rent expense, including the Company’s share of the lessors’ operating expenses, was $0.5 million and $0.4 million for the three months ended September 30, 2023 and 2022, respectively, and was $1.4 million and $1.3 million for the nine months ended September 30, 2023 and 2022, respectively. Financing lease cost includes asset amortization on a straight-line basis over the lease term and interest accretion calculated using the effective interest method. Total financing lease asset depreciation and interest expense was less than $0.1 million for the three and nine months ended September 30, 2023 and 2022. Maturities of the Company’s operating lease liabilities as of September 30, 2023 were as follows (in thousands): Operating Lease Maturities 2023 (excluding the nine months ended September 30) $ 329 2024 1,334 2025 1,368 2026 1,401 2027 1,435 Thereafter 2,273 Total lease payments $ 8,140 Less imputed interest (837) Total present value of lease liabilities $ 7,303 Maturities of the Company’s financing lease liability as of September 30, 2023 were as follows (in thousands): Financing Lease Maturities 2023 (excluding the nine months ended September 30) $ 19 2024 75 2025 75 2026 75 2027 75 Thereafter 113 Total lease payments $ 432 Less imputed interest (119) Total present value of lease liabilities $ 313

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Indemnification agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to customers, vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and certain of its executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is not currently aware of any indemnification claims and has not accrued any liabilities related to such obligations in its condensed consolidated financial statements as of September 30, 2023 and December 31, 2022. Legal proceedings The Company is not a party to any litigation and does not have contingency reserves established for any litigation liabilities. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company expenses as incurred the costs related to legal proceedings.

Benefit plans

Benefit plans	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Benefit plans	Benefit plansThe Company maintains a defined contribution savings plan under Section 401(k) of the Code. This plan covers all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. Matching contributions to the plan may be made at the discretion of the Company’s board of directors. The Company made contributions of $0.2 million and $0.6 million to the plan during the three and nine months ended September 30, 2023 and 2022, respectively.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries in Germany and Switzerland. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements for the year ended December 31, 2022. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of September 30, 2023 and the results of its operations and its cash flows for the three and nine months ended September 30, 2023 and 2022. The financial data and other information disclosed in these notes related to the three and nine months ended September 30, 2023 and 2022 are also unaudited. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of results to be expected for the year ending December 31, 2023, any other interim periods, or any future year or period.
Use of estimates	Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, calculating the standalone selling price for revenue recognition, the valuation of inventory, and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific and relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in
Risk of concentrations of credit, significant customers and significant suppliers	Risk of concentrations of credit, significant customers and significant suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains its cash and cash equivalents and investments with financial institutions that management believes to be of high credit quality. The Company has not experienced any other-than-temporary losses with respect to its cash equivalents and investments and does not believe that it is subject to unusual credit risk beyond the credit risk associated with commercial banking relationships.
Cash equivalents	Cash equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents that are readily convertible to cash are stated at cost, which approximates
Restricted cash	Restricted cash As of September 30, 2023 and December 31, 2022, the Company was required to maintain guaranteed investment certificates of $0.3 million with maturities of three months to one year that are subject to an insignificant risk of changes in value. The guaranteed investment certificates are held for the benefit of the landlord in connection with operating leases which have remaining terms of greater than one year and are classified as restricted cash (non-current) on the Company’s consolidated balance sheets.
Software Development Costs	Software Development Costs The Company accounts for software development costs for internal-use software under the provisions of ASC 350-40, “Internal-Use Software
Fair value measurements	Fair value measurements Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company’s cash equivalents, short-term and long-term investments are carried at fair value, determined according to the fair value hierarchy described above (see Note 3). The carrying values of the Company’s accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities approximate their fair values due to the short-term nature of these assets and liabilities.
Product warranties	Product warrantiesThe Company offers a one-year limited assurance warranty on System sales, which is included in the selling price. The accrual for these warranty obligations is included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.
Segment information	Segment information The Company determined its operating segment after considering the Company’s organizational structure and the information regularly reviewed and evaluated by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company has determined that its CODM is its Chief Executive Officer. The CODM reviews the financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. On the basis of these factors, the Company determined that it operates and manages its business as one operating segment, that develops, manufactures, markets and sells Systems and related LIMS connection software, consumables and services; and accordingly has one reportable segment for financial reporting purposes. Substantially all of the Company’s long-lived assets are held in the United States.
Revenue recognition	Revenue recognition Remaining performance obligations The Company does not disclose the value of remaining performance obligations for (i) contracts with an original contract term of one year or less, (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice when that amount corresponds directly with the value of services performed, and (iii) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied distinct service that forms part of a single performance obligation. The Company does not have material remaining performance obligations associated with contracts with terms greater than one year. Contract balances from contracts with customers Contract assets arise from customer arrangements when revenue recognized exceeds the amount billed to the customer and the Company’s right to payment is conditional and not only subject to the passage of time. The Company had $0.1 million in contract assets as of both September 30, 2023 and December 31, 2022, included in prepaid expenses and other current assets. Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which it has received consideration (or the amount is due) from the customer. The Company has a contract liability related to service revenue, which consists of amounts that have been invoiced but that have not been recognized as revenue. Amounts expected to be recognized as revenue within 12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as non-current deferred revenue. The Company did not record any non-current deferred revenue as of September 30, 2023 or December 31, 2022. Deferred revenue was $4.6 million and $4.7 million at September 30, 2023 and December 31, 2022, respectively. Revenue recognized during the three months ended September 30, 2023 and 2022 that was included in deferred revenue at the prior period-end was $1.2 million and $0.5 million, respectively. Revenue recognized during the nine months ended September 30, 2023 and 2022 that was included in deferred revenue at the prior period-end was $3.3 million and $2.3 million, respectively.
Advertising costs	Advertising costsAdvertising costs are expensed as incurred and are included in sales and marketing expenses in the condensed consolidated statements of operations.
Stock-based compensation	Stock-based compensation The Company measures all stock-based awards granted to employees, officers and directors based on their fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company issues stock-based awards with service-based vesting conditions only and stock-based awards with both service-based and Company performance vesting conditions, and records the expense for these awards using the straight-line method. Forfeitures are accounted for prospectively as they occur.
Recently adopted and issued accounting pronouncements	Recently adopted accounting pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”). The new standard adjusts the accounting for assets held at amortized costs basis, including marketable securities accounted for as available for sale, and trade receivables. The standard eliminates the probable initial recognition threshold and requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. The new standard was effective for the Company beginning January 1, 2023 and primarily impacted trade accounts receivable. The amendments in this update were adopted using a modified retrospective transition method as of January 1, 2023, which had no cumulative impact to retained earnings. The adoption of this new standard had no material impact on the Company's unaudited consolidated financial statements. The Company's concentrations of credit risks are limited due to the large number of customers and their dispersion across a number of geographic areas. Substantially all of the Company's trade receivables are concentrated in the pharmaceuticals industry in the U.S. and internationally or with distributors who operate in international markets. The Company's historical credit losses have not been significant due to this dispersion and the financial stability of the Company's customers. The Company considers its historical credit losses to be immaterial to its business and, therefore, has not provided all the disclosures otherwise required by the standard. The Company updated its accounting policy disclosure for accounts receivable as follows: Accounts receivable are customer obligations that are unconditional. Accounts receivable are presented net of an allowance for doubtful accounts for expected credit losses, which represents an estimate of amounts that may not be collectible. The Company performs ongoing credit evaluations of its customers and, if necessary, provides an allowance for doubtful accounts and expected credit losses. A provision to the allowances for doubtful accounts for expected credit losses is recorded based on factors including the length of time the receivables are past due, the current business environment, the geographic market, and the Company’s historical experience. Provisions to the allowances for doubtful accounts for expected credit losses are recorded to general and administrative expenses. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues collection of the receivable. The Company does not have any off-balance-sheet credit exposure related to customers. As of September 30, 2023 and December 31, 2022, the allowance for doubtful accounts for expected credit losses was zero. Recently issued accounting pronouncements The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected not to “opt out” of the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the newer revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Concentration Risk	The following table presents customers that represent 10% or more of the Company’s total revenue: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer A 14.7 % 23.1 % 18.2 % 22.2 % Customer B 11.4 % * * * Customer C 10.2 % * * * Customer D * 19.5 % * * 36.3 % 42.6 % 18.2 % 22.2 % ____________________________ * – less than 10% The following table presents customers that represent 10% or more of the Company’s accounts receivable: September 30, December 31, 2023 2022 Customer A 11.0 % 21.4 % Customer E 19.7 % * Customer F 17.6 % * Customer G * 11.8 % Customer H * 16.7 % 48.3 % 49.9 % ____________________________ * – less than 10%
Schedule of Product Warranties	The following table presents a summary of changes in the amount reserved for warranty cost (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance, beginning of period $ 526 $ 936 $ 872 $ 598 Warranty provisions 171 295 171 646 Warranty repairs — (320) (346) (333) Balance, end of period $ 697 $ 911 $ 697 $ 911
Schedule of Disaggregated Revenue	The following table presents the Company’s revenue by the recurring or non-recurring nature of the revenue stream (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Product and service revenue — recurring $ 3,410 $ 2,908 $ 10,255 $ 8,066 Product and service revenue — non-recurring 2,735 1,831 5,927 4,693 Total revenue $ 6,145 $ 4,739 $ 16,182 $ 12,759 The following table presents the Company’s revenue by customer geography (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 2,665 $ 2,091 $ 6,987 $ 6,452 Switzerland 1,058 608 2,991 2,096 Germany 478 1,413 1,392 2,238 Japan 167 — 1,621 — All other countries 1,777 627 3,191 1,973 Total revenue $ 6,145 $ 4,739 $ 16,182 $ 12,759

Fair value of financial asset_2

Fair value of financial assets and liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on a Recurring Basis	The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands): Fair value measurements as of September 30, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 18,473 $ — $ — $ 18,473 Short-term investments 59,978 5,625 — 65,603 Long-term investments 14,620 — — 14,620 $ 93,071 $ 5,625 $ — $ 98,696 Fair value measurements at December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 22,072 $ — $ — $ 22,072 Short-term investments 81,093 491 — 81,584 Long-term investments 26,431 3,359 — 29,790 $ 129,596 $ 3,850 $ — $ 133,446

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	Short-term and long-term investments by investment type consisted of the following (in thousands): September 30, 2023 Amortized Gross Gross Fair Short-term investments Certificates of Deposit $ 5,670 $ — $ (45) $ 5,625 U.S. Government Treasury Bills 16,206 — (10) 16,196 U.S. Government Treasury Notes 44,137 — (355) 43,782 $ 66,013 $ — $ (410) $ 65,603 Long-term Investments U.S. Government Treasury Notes - Maturity Between One and Two Years 14,663 — (43) 14,620 $ 14,663 $ — $ (43) $ 14,620 December 31, 2022 Amortized Gross Gross Fair Short-term investments Certificates of Deposit $ 491 $ — $ — $ 491 U.S. Government Treasury Bills 32,115 1 (40) 32,076 U.S. Government Treasury Notes 49,625 — (608) 49,017 $ 82,231 $ 1 $ (648) $ 81,584 Long-term Investments Certificates of Deposit $ 3,391 $ 4 $ (36) $ 3,359 U.S. Government Treasury Notes - Maturity Between One and Two Years 26,861 1 (431) 26,431 $ 30,252 $ 5 $ (467) $ 29,790

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following (in thousands): September 30, December 31, 2023 2022 Raw materials $ 14,225 $ 15,014 Work in process 579 1,599 Finished goods 5,389 4,574 Total $ 20,193 $ 21,187

Prepaid expenses and other cu_2

Prepaid expenses and other current assets (Tables)	9 Months Ended
	Sep. 30, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, 2023 2022 Prepaid insurance $ 38 $ 1,500 Contract asset 69 112 Deposits 647 1,055 Other 802 705 $ 1,556 $ 3,372

Property and equipment, net (Ta

Property and equipment, net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2023 2022 Manufacturing and laboratory equipment $ 13,687 $ 13,408 Computer hardware and software 1,870 1,651 Office furniture and fixtures 588 589 Leasehold improvements 8,551 8,260 Construction-in-process 1,789 1,712 26,485 25,620 Less: Accumulated depreciation (13,615) (11,802) $ 12,870 $ 13,818

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2023 2022 Accrued employee compensation and benefits expense $ 4,547 $ 3,217 Accrued vendor expenses 1,279 3,212 Accrued warranty expense 697 872 Accrued taxes 287 329 Other 136 520 $ 6,946 $ 8,150

Common stock and common stock_2

Common stock and common stock warrants (Tables)	9 Months Ended
	Sep. 30, 2023
Common stock and common stock warrants
Schedule of Outstanding Common Stock Warrants	As of September 30, 2023 and December 31, 2022, outstanding warrants to purchase common stock consisted of the following: Issuance date Contractual term Balance sheet Shares of Weighted average (in years) July 24, 2017 10 Equity 17,194 $ 292.81 April 12, 2018 10 Equity 30,000 $ 1.00 July 14, 2021 10 Equity 975,109 $ 1.46 1,022,303

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Black-Scholes Option-Pricing Model	The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Risk-free interest rate 4.2 % 3.2 % 3.9 % 2.1 % Expected term (in years) 6.1 6.1 6.0 6.0 Expected volatility 47.1 % 44.4 % 47.1 % 43.2 % Expected dividend yield 0 % 0 % 0 % 0 %
Schedule of Stock Option Activity	The following table summarizes the Company’s stock option activity since December 31, 2022: Number of Weighted Weighted Aggregate (in years) (in thousands) Outstanding as of December 31, 2022 5,041,308 $ 5.05 7.55 $ 532 Granted 1,994,222 1.17 Exercised (8,830) 0.82 Expired (80,348) 5.92 Forfeited (150,803) 2.60 Outstanding as of September 30, 2023 6,795,549 $ 2.66 7.57 $ 513 Options vested and expected to vest as of September 30, 2023 6,795,549 $ 2.66 7.57 $ 513 Options exercisable as of September 30, 2023 3,583,257 $ 2.71 6.44 $ 349
Schedule of Restricted Stock and Restricted Stock Units Activity	The following table summarizes the Company’s restricted stock activity since December 31, 2022: Number of Weighted Unvested as of December 31, 2022 155,565 $ 2.10 Granted — Vested (155,565) $ 2.10 Forfeited — Unvested as of September 30, 2023 — $ — The following table summarizes the Company's restricted stock units activity since December 31, 2022: Number of Weighted Unvested as of December 31, 2022 532,121 $ 7.06 Granted 1,461,458 $ 1.22 Vested (161,989) $ 7.42 Forfeited (49,189) $ 3.08 Unvested as of September 30, 2023 1,782,401 $ 2.35
Schedule of ESPP Black-Scholes Option-Pricing Model	The following weighted average assumptions were used in the calculation of fair value of shares under the 2021 ESPP at the grant date for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Risk-free interest rate 5.5 % 3.8 % 5.3 % 2.6 % Expected term (in years) 0.5 0.5 0.5 0.5 Expected volatility 47.7 % 53.3 % 47.8 % 49.1 % Expected dividend yield 0 % 0 % 0 % 0 %
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 159 $ 118 $ 502 $ 387 Research and development 135 93 398 266 Sales and marketing 119 93 385 370 General and administrative 838 369 2,443 1,891 Total stock-based compensation expense $ 1,251 $ 673 $ 3,728 $ 2,914

Net loss per share (Tables)

Net loss per share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss per Share	Basic and diluted net loss per share was calculated as follows (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss $ (13,392) $ (16,339) $ (41,295) $ (44,359) Denominator: Weighted average Class A common shares outstanding—basic and diluted 37,770,566 36,964,613 37,539,885 36,619,187 Weighted average Class B common shares outstanding—basic and diluted 5,309,529 5,553,379 5,445,299 5,785,056 Total shares for EPS—basic and diluted 43,080,095 42,517,992 42,985,184 42,404,243 Net loss per share attributable to Class A common stockholders—basic and diluted $ (0.31) $ (0.38) $ (0.96) $ (1.05) Net loss per share attributable to Class B common stockholders—basic and diluted $ (0.31) $ (0.38) $ (0.96) $ (1.05)
Schedule of Anti-Dilutive Shares Excluded from Computation of Diluted Net Let per Share	The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect: Three and Nine Months Ended 2023 2022 Options to purchase common stock 6,795,549 5,242,448 Unvested restricted common stock 1,782,401 677,112 Warrants to purchase common stock 286,324 286,324 Options to purchase common stock under ESPP 22,051 8,107 8,886,325 6,213,991

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Supplemental Cash Flow Information and Lease Expense	Supplemental cash flow information related to leases is as follows (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 956 $ 893 Operating cash outflows - payments on financing leases $ 29 $ 32 Financing cash outflows - payments on financing leases $ 27 $ 24 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 151 $ 7,605 Financing leases $ — $ 366 The components of lease expense were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 314 $ 297 $ 899 $ 847 Financing lease cost - amortization of right-of-use asset 12 12 37 37 Financing lease cost - interest on lease liability 9 11 29 32 Short-term lease cost — 14 — 45 Variable lease cost 172 138 522 454 Total lease cost $ 507 $ 472 $ 1,487 $ 1,415
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands): September 30, 2023 December 31, 2022 Operating Leases: Operating lease assets $ 6,209 $ 6,746 Accrued expenses and other current liabilities $ 801 $ 729 Operating lease liabilities 6,231 6,898 Total operating lease liabilities $ 7,032 $ 7,627 Financing Leases: Office furniture and fixtures $ 386 $ 386 Accumulated depreciation (106) (69) Net property, plant and equipment $ 280 $ 317 Current portion of long-term debt $ 40 $ 37 Long-term debt 273 304 Total financing lease liabilities $ 313 $ 341 Weighted-average remaining lease term - operating leases (in years): 5.79 6.54 Weighted-average remaining lease term - financing leases (in years): 5.75 6.50 Weighted-average discount rate - operating leases: 3.8 % 3.7 % Weighted-average discount rate - financing leases: 12.0 % 12.0 %
Schedule of Operating Lease Liability Maturities	Maturities of the Company’s operating lease liabilities as of September 30, 2023 were as follows (in thousands): Operating Lease Maturities 2023 (excluding the nine months ended September 30) $ 329 2024 1,334 2025 1,368 2026 1,401 2027 1,435 Thereafter 2,273 Total lease payments $ 8,140 Less imputed interest (837) Total present value of lease liabilities $ 7,303
Schedule of Finance Lease Liability Maturities	Maturities of the Company’s financing lease liability as of September 30, 2023 were as follows (in thousands): Financing Lease Maturities 2023 (excluding the nine months ended September 30) $ 19 2024 75 2025 75 2026 75 2027 75 Thereafter 113 Total lease payments $ 432 Less imputed interest (119) Total present value of lease liabilities $ 313

Summary of significant accoun_4

Summary of significant accounting policies - Schedule of Concentration Risk (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue Benchmark | Major Customers
Concentration Risk [Line Items]
Customer concentration risk	36.30%	42.60%	18.20%	22.20%
Revenue Benchmark | Customer A
Concentration Risk [Line Items]
Customer concentration risk	14.70%	23.10%	18.20%	22.20%
Revenue Benchmark | Customer B
Concentration Risk [Line Items]
Customer concentration risk	11.40%
Revenue Benchmark | Customer C
Concentration Risk [Line Items]
Customer concentration risk	10.20%
Revenue Benchmark | Customer D
Concentration Risk [Line Items]
Customer concentration risk		19.50%
Accounts Receivable | Major Customers
Concentration Risk [Line Items]
Customer concentration risk			48.30%		49.90%
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Customer concentration risk			11%		21.40%
Accounts Receivable | Customer E
Concentration Risk [Line Items]
Customer concentration risk			19.70%
Accounts Receivable | Customer F
Concentration Risk [Line Items]
Customer concentration risk			17.60%
Accounts Receivable | Customer G
Concentration Risk [Line Items]
Customer concentration risk					11.80%
Accounts Receivable | Customer H
Concentration Risk [Line Items]
Customer concentration risk					16.70%

Summary of significant accoun_5

Summary of significant accounting policies - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Line Items]
Cash held in banks outside of the US	$ 300,000		$ 300,000		$ 200,000
Guaranteed investment certificates	284,000		284,000		284,000
Software development costs, net of amortization	800,000		800,000
Software development amortization expense	100,000	$ 100,000	$ 300,000	$ 300,000
Product warranty term			1 year
Number of operating segments | segment			1
Number of reportable segments | segment			1
Contract assets	100,000		$ 100,000		100,000
Non-current deferred revenue	0		0		0
Current deferred revenue	4,560,000		4,560,000		4,706,000
Revenue recognized which was included in deferred revenue in prior period	1,200,000	500,000	3,300,000	2,300,000
Advertising costs			200,000
Allowance for doubtful accounts for expected credit losses	0		$ 0		$ 0
Maximum
Accounting Policies [Line Items]
Advertising costs	$ 100,000	$ 100,000		$ 100,000
Software Development
Accounting Policies [Line Items]
Amortization period of capitalized software costs			5 years

Summary of significant accoun_6

Summary of significant accounting policies - Schedule of Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 526	$ 936	$ 872	$ 598
Warranty provisions	171	295	171	646
Warranty repairs	0	(320)	(346)	(333)
Balance at end of period	$ 697	$ 911	$ 697	$ 911

Summary of significant accoun_7

Summary of significant accounting policies - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 6,145	$ 4,739	$ 16,182	$ 12,759
United States
Disaggregation of Revenue [Line Items]
Total revenue	2,665	2,091	6,987	6,452
Switzerland
Disaggregation of Revenue [Line Items]
Total revenue	1,058	608	2,991	2,096
Germany
Disaggregation of Revenue [Line Items]
Total revenue	478	1,413	1,392	2,238
Japan
Disaggregation of Revenue [Line Items]
Total revenue	167	0	1,621	0
All other countries
Disaggregation of Revenue [Line Items]
Total revenue	1,777	627	3,191	1,973
Product and Service Revenue | Recurring
Disaggregation of Revenue [Line Items]
Total revenue	3,410	2,908	10,255	8,066
Product and Service Revenue | Non-recurring
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,735	$ 1,831	$ 5,927	$ 4,693

Fair value of financial asset_3

Fair value of financial assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 65,603	$ 81,584
Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	14,620	29,790
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	18,473	22,072
Assets	98,696	133,446
Fair Value, Recurring | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	65,603	81,584
Fair Value, Recurring | Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	14,620	29,790
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	18,473	22,072
Assets	93,071	129,596
Fair Value, Recurring | Level 1 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	59,978	81,093
Fair Value, Recurring | Level 1 | Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	14,620	26,431
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Assets	5,625	3,850
Fair Value, Recurring | Level 2 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	5,625	491
Fair Value, Recurring | Level 2 | Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3,359
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Assets	0	0
Fair Value, Recurring | Level 3 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Fair Value, Recurring | Level 3 | Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Short-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 66,013	$ 82,231
Gross unrealized gains	0	1
Gross unrealized losses	(410)	(648)
Fair value	65,603	81,584
Certificates of Deposit
Debt Securities, Available-for-sale [Line Items]
Amortized cost	5,670	491
Gross unrealized gains	0	0
Gross unrealized losses	(45)	0
Fair value	5,625	491
U.S. Government Treasury Bills
Debt Securities, Available-for-sale [Line Items]
Amortized cost	16,206	32,115
Gross unrealized gains	0	1
Gross unrealized losses	(10)	(40)
Fair value	16,196	32,076
U.S. Government Treasury Notes
Debt Securities, Available-for-sale [Line Items]
Amortized cost	44,137	49,625
Gross unrealized gains	0	0
Gross unrealized losses	(355)	(608)
Fair value	43,782	49,017
Long-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	14,663	30,252
Gross unrealized gains	0	5
Gross unrealized losses	(43)	(467)
Fair value	14,620	29,790
Certificates of Deposit
Debt Securities, Available-for-sale [Line Items]
Amortized cost		3,391
Gross unrealized gains		4
Gross unrealized losses		(36)
Fair value		3,359
U.S. Government Treasury Notes - Maturity Between One and Two Years
Debt Securities, Available-for-sale [Line Items]
Amortized cost	14,663	26,861
Gross unrealized gains	0	1
Gross unrealized losses	(43)	(431)
Fair value	$ 14,620	$ 26,431

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 14,225	$ 15,014
Work in process	579	1,599
Finished goods	5,389	4,574
Total	20,193	21,187
Inventory adjustments	$ 700	$ 1,100

Prepaid expenses and other cu_3

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid insurance	$ 38	$ 1,500
Contract asset	69	112
Deposits	647	1,055
Other	802	705
Prepaid expenses and other current assets	$ 1,556	$ 3,372

Property and equipment, net - S

Property and equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 26,485	$ 25,620
Less: Accumulated depreciation	(13,615)	(11,802)
Property plant and equipment, net	12,870	13,818
Manufacturing and laboratory equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	13,687	13,408
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,870	1,651
Office furniture and fixtures
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	588	589
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	8,551	8,260
Construction-in-process
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 1,789	$ 1,712

Property and equipment, net - N

Property and equipment, net - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 700,000	$ 600,000	$ 2,000,000	$ 1,700,000
Depreciated assets disposed	$ 0	$ 0	$ 0	$ 2,300,000

Accrued expenses and other cu_3

Accrued expenses and other current liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued employee compensation and benefits expense	$ 4,547	$ 3,217
Accrued vendor expenses	1,279	3,212
Accrued warranty expense	697	872
Accrued taxes	287	329
Other	136	520
Total accrued expenses and other current liabilities	$ 6,946	$ 8,150

Accrued expenses and other cu_4

Accrued expenses and other current liabilities - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Aug. 11, 2022
Accrued Liabilities, Current [Abstract]
Workforce reduction percentage				20%
Restructuring costs		$ 1,100,000
Payments for restructuring	$ 0		$ 500,000
Remaining restructuring payments	$ 0		$ 0

Common stock and common stock_3

Common stock and common stock warrants - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 USD ($) vote shares
Common stock and common stock warrants
Cash dividends | $	$ 0
Class A Common stock
Common stock and common stock warrants
Number of votes per share held | vote	1
Shares reserved (in shares) | shares	22,091,879

Common stock and common stock_4

Common stock and common stock warrants - Schedule of Outstanding Common Stock Warrants (Details) - Common Stock Warrants - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Common stock and common stock warrants
Shares of common stock issuable upon exercise of warrant (in shares)	1,022,303	1,022,303
July 24, 2017
Common stock and common stock warrants
Contractual term	10 years	10 years
Shares of common stock issuable upon exercise of warrant (in shares)	17,194	17,194
Weighted average exercise price (in dollars per share)	$ 292.81	$ 292.81
April 12, 2018
Common stock and common stock warrants
Contractual term	10 years	10 years
Shares of common stock issuable upon exercise of warrant (in shares)	30,000	30,000
Weighted average exercise price (in dollars per share)	$ 1	$ 1
July 14, 2021
Common stock and common stock warrants
Contractual term	10 years	10 years
Shares of common stock issuable upon exercise of warrant (in shares)	975,109	975,109
Weighted average exercise price (in dollars per share)	$ 1.46	$ 1.46

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	May 31, 2023	Jul. 31, 2021	Feb. 28, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jul. 19, 2021
Share-based compensation
Intrinsic value of stock options exercised							$ 2,800,000
Weighted average grant-date fair value of stock options granted (in dollars per share)				$ 0.49	$ 1.72	$ 0.59	$ 3.20
Employee payments for shares granted						$ 182,000	$ 159,000
Stock-based compensation expense				$ 1,251,000	$ 673,000	$ 3,728,000	$ 2,914,000
Options granted (in shares)						1,994,222
Granted (in dollars per share)						$ 1.17
Unrecognized compensation expense				5,300,000		$ 5,300,000
Restricted Stock
Share-based compensation
Units granted (in shares)			248,903			0
Vesting Period			4 years
Employee payments for shares granted			$ 500,000
Weighted average grant-date fair value per share of units granted (in dollars per share)			$ 2.10
Unvested stock liability				$ 0		$ 0		$ 300,000
Restricted Stock Units (RSUs)
Share-based compensation
Units granted (in shares)						1,461,458
Vesting Period						3 years
Weighted average grant-date fair value per share of units granted (in dollars per share)				$ 0.97	$ 3.64	$ 1.22	$ 7.36
Weighted average recognition period						2 years 1 month 6 days
Unrecognized compensation expense related to units				$ 3,100,000		$ 3,100,000
Share-Based Payment Arrangement, Option
Share-based compensation
Weighted average recognition period						2 years
Maximum
Share-based compensation
Intrinsic value of stock options exercised						$ 100,000
Class A Common stock
Share-based compensation
Shares available for future issuance (in shares)				22,091,879		22,091,879
2010 Plan
Share-based compensation
Shares authorized (in shares)									0
2021 Plan
Share-based compensation
Shares authorized (in shares)				3,212,318		3,212,318
Plan term		10 years
2021 Plan | Class A Common stock
Share-based compensation
Shares authorized (in shares)		4,200,000
Percentage of aggregate number of shares outstanding		5%
Maximum number of shares issuable upon exercise of stock option (in shares)		33,900,000
2021 ESPP
Share-based compensation
Plan term		10 years
2021 ESPP | Employee Stock
Share-based compensation
Maximum percentage of payroll deduction		15%
Offering period		6 months
Maximum shares available for purchase per employee (in shares)		100,000
Maximum value of shares available for purchase per employee		$ 25,000
Discount percentage from market price		85%
2021 ESPP | Maximum
Share-based compensation
Stock-based compensation expense				$ 100,000	$ 100,000	$ 100,000	$ 100,000
2021 ESPP | Class A Common stock
Share-based compensation
Shares authorized (in shares)		400,000
Percentage of aggregate number of shares outstanding		1%
Maximum number of shares issuable upon exercise of stock option (in shares)		6,300,000
Shares purchased under plan (in shares)						186,037
Shares available for future issuance (in shares)				873,158		873,158
Inducement Plan
Share-based compensation
Options granted (in shares)	220,000
Granted (in dollars per share)	$ 0.83
Shares available for issuance under plan (in shares)				0		0
Inducement Plan | Restricted Stock Units (RSUs)
Share-based compensation
Units granted (in shares)	110,000
Inducement Plan | Class A Common stock
Share-based compensation
Shares available for future issuance (in shares)	330,000

Stock-based compensation - Sche

Stock-based compensation - Schedule of Black-Scholes Option-Pricing Model (Details) - 2021 Plan - Share-Based Payment Arrangement, Option	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based compensation
Risk-free interest rate	4.20%	3.20%	3.90%	2.10%
Expected term (in years)	6 years 1 month 6 days	6 years 1 month 6 days	6 years	6 years
Expected volatility	47.10%	44.40%	47.10%	43.20%
Expected dividend yield	0%	0%	0%	0%

Stock-based compensation - Stoc

Stock-based compensation - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of shares
Outstanding at beginning of period (in shares) | shares	5,041,308
Granted (in shares) | shares	1,994,222
Exercised (in shares) | shares	(8,830)
Expired (in shares) | shares	(80,348)
Forfeited (in shares) | shares	(150,803)
Outstanding at end of period (in shares) | shares	6,795,549	5,041,308
Options vested and expected to vest (in shares) | shares	6,795,549
Options exercisable (in shares) | shares	3,583,257
Weighted average exercise price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 5.05
Options granted (in dollars per share) | $ / shares	1.17
Exercised (in dollars per share) | $ / shares	0.82
Expired (in dollars per share) | $ / shares	5.92
Forfeited (in dollars per share) | $ / shares	2.60
Outstanding at end of period (in dollars per share) | $ / shares	2.66	$ 5.05
Options vested and expected to vest (in dollars per share) | $ / shares	2.66
Options exercisable (in dollars per share) | $ / shares	$ 2.71
Weighted average remaining contractual term
Weighted average remaining contractual term of options outstanding	7 years 6 months 25 days	7 years 6 months 18 days
Weighted average remaining contractual term of options vested and expected to vest	7 years 6 months 25 days
Weighted average remaining contractual term of options exercisable	6 years 5 months 8 days
Aggregate intrinsic value
Aggregate intrinsic value of options outstanding | $	$ 513	$ 532
Aggregate intrinsic value of options vested and expected to vest | $	513
Aggregate intrinsic value of options exercisable | $	$ 349

Stock-based compensation - Sc_2

Stock-based compensation - Schedule of Restricted Stock and Restricted Stock Units Activity (Details) - $ / shares	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted Stock
Number of shares
Unvested units at beginning of period (in shares)				155,565
Granted (in shares)	248,903			0
Vested (in shares)				(155,565)
Forfeited (in shares)				0
Unvested units at end of period (in shares)		0		0
Weighted average fair value
Unvested units at beginning of period (in dollars per share)				$ 2.10
Granted (in dollars per share)	$ 2.10
Vested (in dollars per share)				2.10
Forfeited (in dollars per shares)
Unvested units at end of period (in dollars per share)		$ 0		$ 0
Restricted Stock Units (RSUs)
Number of shares
Unvested units at beginning of period (in shares)				532,121
Granted (in shares)				1,461,458
Vested (in shares)				(161,989)
Forfeited (in shares)				(49,189)
Unvested units at end of period (in shares)		1,782,401		1,782,401
Weighted average fair value
Unvested units at beginning of period (in dollars per share)				$ 7.06
Granted (in dollars per share)		$ 0.97	$ 3.64	1.22	$ 7.36
Vested (in dollars per share)				7.42
Forfeited (in dollars per shares)				3.08
Unvested units at end of period (in dollars per share)		$ 2.35		$ 2.35

Stock-based compensation - Sc_3

Stock-based compensation - Schedule of ESPP Black-Scholes Option-Pricing Model (Details) - 2021 ESPP - Employee Stock	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based compensation
Risk-free interest rate	5.50%	3.80%	5.30%	2.60%
Expected term (in years)	6 months	6 months	6 months	6 months
Expected volatility	47.70%	53.30%	47.80%	49.10%
Expected dividend yield	0%	0%	0%	0%

Stock-based compensation - Sc_4

Stock-based compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 1,251	$ 673	$ 3,728	$ 2,914
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	159	118	502	387
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	135	93	398	266
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	119	93	385	370
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 838	$ 369	$ 2,443	$ 1,891

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax benefit	$ (10)	$ (7)	$ (23)	$ 583

Net loss per share - Basic and

Net loss per share - Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss	$ (13,392)	$ (14,016)	$ (13,887)	$ (16,339)	$ (13,090)	$ (14,930)	$ (41,295)	$ (44,359)
Denominator:
Weighted average common shares outstanding - basic (in shares)	43,080,095			42,517,992			42,985,184	42,404,243
Weighted average common shares outstanding - diluted (in shares)	43,080,095			42,517,992			42,985,184	42,404,243
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.31)			$ (0.38)			$ (0.96)	$ (1.05)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.31)			$ (0.38)			$ (0.96)	$ (1.05)
Class A Common stock
Denominator:
Weighted average common shares outstanding - basic (in shares)	37,770,566			36,964,613			37,539,885	36,619,187
Weighted average common shares outstanding - diluted (in shares)	37,770,566			36,964,613			37,539,885	36,619,187
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.31)			$ (0.38)			$ (0.96)	$ (1.05)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.31)			$ (0.38)			$ (0.96)	$ (1.05)
Class B Common stock
Denominator:
Weighted average common shares outstanding - basic (in shares)	5,309,529			5,553,379			5,445,299	5,785,056
Weighted average common shares outstanding - diluted (in shares)	5,309,529			5,553,379			5,445,299	5,785,056
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.31)			$ (0.38)			$ (0.96)	$ (1.05)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.31)			$ (0.38)			$ (0.96)	$ (1.05)

Net loss per share - Schedule o

Net loss per share - Schedule of Anti-Dilutive Shares Excluded from Computation of Diluted Net Let per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	8,886,325	6,213,991	8,886,325	6,213,991
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	6,795,549	5,242,448	6,795,549	5,242,448
Unvested restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	1,782,401	677,112	1,782,401	677,112
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	286,324	286,324	286,324	286,324
Options to purchase common stock under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	22,051	8,107	22,051	8,107

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) renewal_option	Sep. 30, 2022 USD ($)
Leases
Finance lease term	8 years		8 years
Finance lease renewal term	5 years		5 years
Rent expense	$ 0.5	$ 0.4	$ 1.4	$ 1.3
Minimum
Leases
Operating lease term	8 years		8 years
Number of finance lease renew options | renewal_option			1
Maximum
Leases
Operating lease term	10 years		10 years
Depreciation and interest expense	$ 0.1	$ 0.1	$ 0.1	$ 0.1

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$ 956	$ 893
Operating cash outflows - payments on financing leases	29	32
Financing cash outflows - payments on financing leases	27	24
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	151	7,605
Financing leases	$ 0	$ 366

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leases:
Operating lease assets	$ 6,209	$ 6,746
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets, net	Right-of-use assets, net
Accrued expenses and other current liabilities	$ 801	$ 729
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, short-term	Lease liabilities, short-term
Operating lease liabilities	$ 6,231	$ 6,898
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, long-term	Lease liabilities, long-term
Total operating lease liabilities	$ 7,032	$ 7,627
Financing Leases:
Office furniture and fixtures	386	386
Accumulated depreciation	(106)	(69)
Net property, plant and equipment	$ 280	$ 317
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets, net	Right-of-use assets, net
Current portion of long-term debt	$ 40	$ 37
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, short-term	Lease liabilities, short-term
Long-term debt	$ 273	$ 304
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, long-term	Lease liabilities, long-term
Total financing lease liabilities	$ 313	$ 341
Weighted-average remaining lease term - operating leases (in years):	5 years 9 months 14 days	6 years 6 months 14 days
Weighted-average remaining lease term - financing leases (in years):	5 years 9 months	6 years 6 months
Weighted-average discount rate - operating leases:	3.80%	3.70%
Weighted-average discount rate - financing leases:	12%	12%

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 314	$ 297	$ 899	$ 847
Financing lease cost - amortization of right-of-use asset	12	12	37	37
Financing lease cost - interest on lease liability	9	11	29	32
Short-term lease cost	0	14	0	45
Variable lease cost	172	138	522	454
Total lease cost	$ 507	$ 472	$ 1,487	$ 1,415

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability Maturities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2023 (excluding the nine months ended September 30)	$ 329
2024	1,334
2025	1,368
2026	1,401
2027	1,435
Thereafter	2,273
Total lease payments	8,140
Less imputed interest	(837)
Total present value of lease liabilities	$ 7,303

Leases - Schedule of Finance Le

Leases - Schedule of Finance Lease Liability Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (excluding the nine months ended September 30)	$ 19
2024	75
2025	75
2026	75
2027	75
Thereafter	113
Total lease payments	432
Less imputed interest	(119)
Total present value of lease liabilities	$ 313	$ 341

Benefit plans (Details)

Benefit plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Company contributions to plan	$ 0.2	$ 0.2	$ 0.6	$ 0.6