NanoString (NSTG) 10-K 1 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35980
Entity Registrant Name	NANOSTRING TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0094687
Entity Address, Address Line One	530 Fairview Avenue North
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98109
City Area Code	206
Local Phone Number	378-6266
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	NSTG
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.1
Entity Common Stock, Shares Outstanding		44,582,322
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission in connection with the registrant’s 2021 Annual Meeting of Stockholders, which will be filed subsequent to the date hereof, are incorporated by reference into Part III of this Form 10-K. Such proxy statement will be filed with the Securities and Exchange Commission not later than 120 days following the end of the registrant’s fiscal year ended December 31, 2020.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001401708

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 411,848	$ 29,033
Short-term investments	28,883	127,822
Accounts receivable, net	31,100	27,153
Inventory, net	22,959	19,781
Prepaid expenses and other	4,190	8,818
Total current assets	498,980	212,607
Property and equipment, net	20,828	20,184
Operating lease right-of-use assets	21,492	24,648
Other assets	2,895	2,315
Total assets	544,195	259,754
Current liabilities:
Accounts payable	5,313	10,282
Accrued liabilities	4,970	4,973
Accrued compensation and other employee benefits	15,262	15,579
Customer deposits	1,631	6,389
Deferred revenue and other liabilities, current portion	5,610	3,997
Operating lease liabilities, current portion	4,313	3,766
Total current liabilities	37,099	44,986
Deferred revenue and other liabilities, net of current portion	1,843	1,298
Long-term debt, net	172,703	79,951
Operating lease liabilities, net of current portion	25,602	29,368
Total liabilities	237,247	155,603
Commitments and contingencies (Note 16)
Stockholders’ equity
Preferred stock, $0.0001 par value, 15,000 shares authorized; none issued	0	0
Common stock, $0.0001 par value, 150,000 shares authorized; 44,441 and 36,298 shares issued and outstanding at December 31, 2020 and 2019, respectively	4	4
Additional paid-in-capital	848,891	535,954
Accumulated other comprehensive income	83	145
Accumulated deficit	(542,030)	(431,952)
Total stockholders’ equity	306,948	104,151
Total liabilities and stockholders’ equity	$ 544,195	$ 259,754
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	44,441,000	36,298,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	44,441,000	36,298,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Revenue	$ 117,316	$ 125,568	$ 106,732
Total revenue	117,316	125,568	106,732
Costs and expenses:
Cost of product and service revenue	52,409	44,039	36,331
Research and development	62,857	68,035	61,599
Selling, general and administrative	90,097	96,195	78,195
Total costs and expenses	205,363	208,269	176,125
Loss from operations	(88,047)	(82,701)	(69,393)
Other income (expense):
Gain on sale of business, net	0	48,871	0
Loss on extinguishment of debt and termination of revolving loan facility	(7,143)	0	0
Interest income	1,744	2,819	1,331
Interest expense	(15,408)	(8,487)	(7,431)
Other expense, net	(971)	(929)	(1,658)
Total other income (expense), net	(21,778)	42,274	(7,758)
Net loss before provision for income taxes	(109,825)	(40,427)	(77,151)
Provision for income taxes	(253)	(269)	(249)
Net loss	$ (110,078)	$ (40,696)	$ (77,400)
Net loss per share-basic and diluted (in dollars per share)	$ (2.82)	$ (1.18)	$ (2.78)
Weighted average shares used in computing basic and diluted net loss per share (in shares)	39,083	34,588	27,883

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (110,078)	$ (40,696)	$ (77,400)
Other comprehensive income (loss):
Change in unrealized (loss) gain on available-for-sale debt securities	(62)	185	59
Comprehensive loss	$ (110,140)	$ (40,511)	$ (77,341)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Balance at (in shares) at Dec. 31, 2017			25,421,000
Balances at at Dec. 31, 2017	$ 40,109	$ (754)	$ 2	$ 353,308	$ (99)	$ (313,102)	$ (754)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock net of issuance costs (in shares)			4,600,000
Issuance of common stock net of issuance costs	53,829		$ 1	53,828
Issuance of common stock warrants	4,593			4,593
Exercise of stock options (in shares)			517,000
Common stock issued for stock options and restricted stock units	3,507			3,507
Issuance of common stock for employee stock purchase plan (in shares)			257,000
Issuance of common stock for employee stock purchase plan	1,451			1,451
Exercise of common stock warrant, net (in shares)			118,000
Exercise of common stock warrants	0
Stock-based compensation	11,475			11,475
Net loss	(77,400)					(77,400)
Other comprehensive income	59				59
Balance at (in shares) at Dec. 31, 2018			30,913,000
Balances at at Dec. 31, 2018	36,869		$ 3	428,162	(40)	(391,256)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock net of issuance costs (in shares)			3,175,000
Issuance of common stock net of issuance costs	68,273			68,273
Issuance of common stock warrants	3,197		$ 1	3,196
Exercise of stock options (in shares)			2,007,000
Common stock issued for stock options and restricted stock units	18,387			18,387
Issuance of common stock for employee stock purchase plan (in shares)			203,000
Issuance of common stock for employee stock purchase plan	1,952			1,952
Tax withholdings related to net share settlements of restricted stock units	(1,474)			(1,474)
Stock-based compensation	17,458			17,458
Net loss	(40,696)					(40,696)
Other comprehensive income	185				185
Balance at (in shares) at Dec. 31, 2019			36,298,000
Balances at at Dec. 31, 2019	104,151		$ 4	535,954	145	(431,952)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock net of issuance costs (in shares)			5,750,000
Issuance of common stock net of issuance costs	215,765			215,765
Issuance of common stock warrants	$ 737			737
Exercise of stock options (in shares)	1,483,602		1,890,000
Common stock issued for stock options and restricted stock units	$ 18,751			18,751
Issuance of common stock for employee stock purchase plan (in shares)			89,000
Issuance of common stock for employee stock purchase plan	2,190			2,190
Exercise of common stock warrant, net (in shares)			414,000
Exercise of common stock warrants	0
Tax withholdings related to net share settlements of restricted stock units	(2,012)			(2,012)
Stock-based compensation	18,963			18,963
Net loss	(110,078)					(110,078)
Other comprehensive income	(62)				(62)
Balance at (in shares) at Dec. 31, 2020			44,441,000
Balances at at Dec. 31, 2020	$ 306,948		$ 4	$ 848,891	$ 83	$ (542,030)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Additional Paid-in Capital
Issuance cost	$ 14.2	$ 4.7	$ 3.7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net loss	$ (110,078)	$ (40,696)	$ (77,400)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	5,738	4,919	4,070
Stock-based compensation expense	19,374	17,458	11,475
Non-cash operating lease cost	3,238	2,831	0
Payment of accrued interest on long-term debt	(2,593)	0	(5,446)
Gain on sale of business	0	(49,922)	0
Loss (gain) on equity securities	300	(625)	0
Loss on extinguishment of long-term debt	7,143	0	842
Amortization (accretion) of discount or premium on short-term investments	(121)	(204)	278
Amortization of deferred financing costs	8,881	810	438
Conversion of accrued interest to long-term debt	0	2,193	1,530
Loss on disposal of property and equipment	119	1,152	97
Provision for inventory obsolescence and bad debt	886	869	1,158
Changes in operating assets and liabilities
Accounts receivable	(3,949)	(9,805)	1,807
Inventory	(4,909)	(8,475)	5,251
Prepaid expenses and other assets	4,321	(3,350)	(2,714)
Accounts payable	(3,170)	(599)	4,640
Accrued liabilities	(21)	1,276	(494)
Accrued compensation and other employee benefits	(936)	3,567	3,463
Cash payments received from customers	(4,758)	(1,778)	(778)
Deferred revenue and other liabilities	2,033	(6,536)	(2,282)
Operating lease liabilities	(3,160)	(2,506)	0
Net cash used in operating activities	(81,662)	(89,421)	(54,065)
Investing activities
Purchases of property and equipment	(7,457)	(7,885)	(4,485)
Proceeds from sale of business	0	40,000	0
Proceeds from sale of short-term investments	21,218	2,500	7,910
Proceeds from maturity of short-term investments	116,284	97,970	51,300
Purchases of short-term investments	(38,804)	(147,744)	(77,650)
Net cash provided by (used in) investing activities	91,241	(15,159)	(22,925)
Financing activities
Proceeds from long-term debt	230,000	20,000	60,000
Deferred costs related to long-term debt	7,403	100	500
Repayment of long-term debt and lease financing obligations	(80,000)	0	(45,000)
Fees paid upon extinguishment of debt	(4,845)	0	(1,009)
Proceeds from sale of common stock, net	215,765	68,273	53,829
Proceeds from issuance of common stock warrants	737	2,228	3,010
Proceeds from issuance of common stock for employee stock purchase plan	2,190	1,952	1,451
Tax withholdings related to net share settlements of restricted stock units	(2,012)	(1,474)	(207)
Proceeds from exercise of stock options	18,751	18,387	3,507
Repayment of finance lease obligations	(135)	0	0
Net cash provided by financing activities	373,048	109,266	75,081
Net increase (decrease) in cash and cash equivalents	382,627	4,686	(1,909)
Effect of exchange rate changes on cash and cash equivalents	188	(9)	(14)
Cash and cash equivalents
Beginning of year	29,033	24,356	26,279
End of year	411,848	29,033	24,356
Supplemental disclosures
Cash paid for interest	4,571	5,683	6,213
Fair value of warrants issued with long-term debt	0	968	1,583
Cash paid for taxes	357	265	231
Instruments reclassified from inventory to property and equipment	854	605	585
Finance lease right-of-use assets obtained in exchange for lease obligations	524	0	0
Operating lease right-of-use assets obtained in exchange for lease obligations	0	28,060	0
Common stock received for sale of a business	0	9,893	0
Non-cash inventory exchanged for services	$ 0	$ 0	$ 106

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business NanoString Technologies, Inc. (the “Company”) was incorporated in the state of Delaware on June 20, 2003. The Company’s headquarters is located in Seattle, Washington. The Company’s proprietary optical barcoding chemistry enables direct detection, identification and quantification of individual target molecules in a biological sample by attaching a unique color coded fluorescent reporter to each target molecule of interest. The Company currently markets and sells two platforms based on its proprietary technology, its nCounter Analysis System and its GeoMx Digital Spatial Profiler, or GeoMx DSP system, both consisting of instruments and consumables, to academic, government, biopharmaceutical and clinical laboratory customers. The Company has incurred losses to date and expects to incur additional losses for the foreseeable future. The Company continues to invest the majority of its resources in the development and growth of its business, including significant investments in new product development and sales and marketing efforts. The Company’s activities have been financed to date primarily through the sale of equity securities and incurrence of indebtedness and cash received by the Company pursuant to certain product development collaborations.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Accounting Principles and Principles of Consolidation The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. Each of the subsidiaries operates as a sales and support office. The functional currency of each subsidiary is the U.S. dollar. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and that affect the reported amounts of revenue and expenditures during the reporting period. Actual results could differ from those estimates. Significant estimates inherent in the preparation of the accompanying consolidated financial statements include the estimation of stand-alone selling prices for its products and services, the estimation of the valuation of inventory, the estimates used in the valuation allowance for deferred tax assets and uncertain tax positions, and estimates used in certain of the inputs and calculations associated with stock-based compensation. Cash and Cash Equivalents The Company considers all highly-liquid investments with purchased maturities of three months or less to be cash equivalents. The Company’s cash equivalents consist principally of funds maintained in depository accounts. The Company invests its cash and cash equivalents with major financial institutions; at times these investments exceed federally insured limits. Investments At the end of 2019, the Company held certain equity securities, which are reported at fair value. Changes in the fair value of equity securities have been recorded in other income (loss) in the consolidated statements of operations for the period ended December 31, 2020. The cost of equity securities for purposes of computing gains and losses is based on the specific identification method. As of December 31, 2020, all equity securities previously held by the Company had been sold. The Company classifies its debt securities as available-for-sale, which are reported at estimated fair value with unrealized gains and losses included in accumulated other comprehensive loss in stockholders’ equity. Realized gains, realized losses and allowance for estimated credit losses are included in other expense, net. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Amortization of premiums and accretion of discounts are included in other expense, net. Interest and dividends earned on all securities are included in other expense, net. Investments in debt securities with maturities of less than one year, or where management’s intent is to use the investments to fund current operations, or to make them available for current operations, are classified as short-term investments. Investments are presented net of an allowance for expected credit losses that are remeasured each period and any impairment recognized as an expense. The Company has considered all information and factors and noted no indicators that a credit loss exists as of December 31, 2020. The Company has not experienced any significant investment credit losses to date. Accounts Receivable and Allowance for Credit Losses Accounts receivable are stated net of an allowance for credit losses. The Company uses available information over the life of the receivables including analysis of past credit losses, recoveries of past credit losses, management’s expectations of future economic positions, as well as market conditions and other extenuating factors to support the allowance estimate. Concentration of Credit Risks Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments and accounts receivable. Cash is invested in accordance with the Company’s investment policy, which includes guidelines intended to minimize and diversify credit risk. Most of the Company’s investments are not federally insured. The Company has credit risk related to the collectability of its accounts receivable. The Company performs initial and ongoing evaluations of its customers’ credit history or financial position and generally extends credit on account without collateral. The Company has not experienced any significant credit losses to date. The Company had one customer/collaborator, Lam Research Corporation (“Lam”), that represented 4%, 13% and 17% of total revenue for the years ended December 31, 2020, 2019 and 2018, respectively. The Company had no customers or collaborators that represented more than 10% of total accounts receivable as of December 31, 2020 and 2019. The Company is also subject to supply chain risks related to the outsourcing of the manufacturing and production of its instruments to sole suppliers. Although there are a limited number of manufacturers for instruments of this type, the Company believes that other suppliers could provide similar products on comparable terms. Similarly, the Company sources certain raw materials used in the manufacture of consumables from certain sole suppliers. A change in suppliers, however, could cause a delay in manufacturing and a possible loss of sales, which would adversely affect operating results. Fair value of financial instruments The recorded amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other assets, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. Investments that are classified as available-for-sale are recorded at fair value. The fair value for investment securities held and for convertible senior notes are determined using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Inventory Inventory consists of finished goods, work in process, raw materials and certain component parts to be used in manufacturing or servicing the Company’s products. Inventory is stated at the lower of cost or net realizable value. Cost is determined using a standard cost system, whereby the standard costs are updated periodically to reflect current costs and market represents the lower of cost or market (replacement cost or estimated net realizable value). The Company’s policy is to establish inventory reserves when conditions exist that suggest that inventory may be in excess of anticipated demand, obsolete, slow moving or impaired. In the event that the Company identifies these conditions exist in its inventory, its carrying value is reduced to its net realizable value. Inventory reserves were $5.0 million and $4.1 million as of December 31, 2020 and 2019, respectively. The Company outsources the manufacturing of its instruments to third-party contract manufacturers who manufacture them to certain specifications and source certain raw materials from sole source providers. Major delays in shipments, inferior quality, insufficient quantity or any combination of these or other factors may harm the Company’s business and results of operations. In addition, the inability of one or more of these suppliers to provide the Company with an adequate supply of its products or raw materials or the loss of one or more of these suppliers may cause a delay in the Company’s ability to fulfill orders while it obtains a replacement supplier and may harm the Company’s business and results of operations. Property and Equipment Property and equipment are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Expenditures for additions are capitalized and expenditures for maintenance and repairs are expensed as incurred. Gains and losses from the disposal of property and equipment are reflected in the consolidated statements of operations in the period of disposition. Useful Life Manufacturing equipment 5 years Prototype systems 2 years Computer equipment 3 years Furniture and fixtures 5 years Leasehold improvements Lessor of useful life or lease term Leases The Company determines if an arrangement is a lease at inception of a contract. The Company’s leasing portfolio is comprised of operating and finance leases primarily for general office, manufacturing and research and development purposes. Operating and finance lease liabilities and the corresponding right-of-use assets are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Operating lease right-of-use assets are reduced by lease incentives included in the agreement. As the existing leases do not contain an implicit interest rate, the Company estimates its incremental borrowing rate based on information available at commencement date in determining the present value of future payments. The Company includes options to extend the lease in the lease liability and right-of-use asset when it is reasonably certain that the option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company elected, as an accounting policy election, to use the short-term lease recognition exemption on all classes of assets. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the Company recognizes lease payments as an expense on a straight-line basis over the lease term. The Company has lease office agreements with lease and non-lease components, which are generally accounted for separately. For lease equipment agreements, the Company accounts for the lease and non-lease components as a single lease component. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. Rent Expense and Leasehold Improvements Prior to the adoption of “ASU 2016-02, Leases - Recognition and Measurement of Financial Assets and Financial Liabilities,” on January 1, 2019, the Company recognized rent expense for leases that provided for scheduled rent increases during the lease term on a straight-line basis over the term of the related lease. Leasehold improvements funded by landlord incentives or allowances were recorded in property and equipment and as a component of deferred rent and amortized as a reduction of rent expense over the term of the related lease. Impairment of Long-Lived Assets The Company recognizes impairment losses on long-lived assets when indicators of impairment are present and the anticipated undiscounted cash flows to be generated by those assets are less than the asset’s carrying values. During 2019, as a result of its sale of a business to Veracyte, the Company impaired certain leased and loaner nCounter instruments with a carrying value of $1.1 million which no longer had future economic value to the Company. Other than the impairment resulting from the Veracyte transaction in 2019, the Company has not experienced material impairment losses on its long-lived assets during the periods presented. Convertible Senior Notes In accordance with accounting guidance for debt with conversion and other options, the Company separately accounted for the liability and equity components of the 2.625% Convertible Senior Notes due 2025 (“Convertible Notes”) by allocating the proceeds between the liability component and the embedded conversion feature, or the equity component, due to the Company’s ability to settle the Convertible Notes in cash, common stock or a combination of cash and common stock, at its option. The Company’s current intent is to settle the principal amount of the Convertible Notes in cash upon conversion, with any remaining conversion value being delivered in shares of its common stock. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The allocation was performed in a manner that reflected the Company’s non-convertible debt borrowing rate for similar debt. The equity component of the Convertible Notes was recognized as a debt discount and represents the difference between the proceeds from the issuance of the Convertible Notes and the fair value of the liability of the Convertible Notes on their respective dates of issuance. The excess of the principal amount of the liability component over its carrying amount is the debt discount and is amortized to interest expense using the effective interest method over five years. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. In connection with the issuance of the Convertible Notes, the Company also incurred certain financing costs associated directly with the issuance of the Convertible Notes. These issuance costs were deferred, and a portion of the deferred issuance costs have been deemed attributable to the equity component and have been allocated to additional paid-in capital. The remaining deferred issuance costs have been and will continue to be amortized to interest expense over five years from the original issuance date using the effective interest method. See Note 10. Long-term Debt, Net for additional information regarding the Convertible Senior Notes. Segments Operating segments are defined as components of an entity for which separate financial information is available and evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the chief executive officer, who manages the operations and evaluates the financial performance on a total Company basis. The Company’s principal operations and decision-making functions are located at its corporate headquarters in the United States and the Company operates as a single operating and reporting segment. Revenue Recognition The Company recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration expected to be received in exchange for those products and services. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has transferred control of a product or service to the customer, meaning the customer has the ability to use and obtain the benefit of the product or service. The Company recognizes revenue for satisfied performance obligations only when there are no uncertainties regarding payment terms or transfer of control. The Company generates the majority of its revenue from sales of its proprietary nCounter Analysis System and its GeoMx DSP system, and related consumables. Services consist of instrument service contracts for maintenance, repair and other support related to customer owned instruments, and also certain service fees for assay processing and data analysis and reporting. Revenue from instruments and consumables is recognized generally upon shipment to the end customer, which is when control of the product has been transferred to the customer. Performance obligations related to instrument sales are reviewed on a contract-by-contract basis, as individual contract terms may vary and revenue is recognized as performance obligations are satisfied. Performance obligations for consumable products are generally completed upon shipment to the customer. While the Company typically completes installation and training of its customers with field-based service personnel, these services can also be provided by distribution partners and other third parties. Instrument service contracts are sold with contract terms ranging from 12-36 months and cover periods after the end of the initial 12-month warranty. These contracts include services to maintain performance within the Company’s designed specifications and allow the customer to receive certain preventative maintenance service procedures during the contract term. Revenue from services to maintain designed specifications is considered a stand-ready obligation and recognized evenly over the contract term and service revenue related to preventative maintenance of instruments is recognized when the procedure is completed. Revenue from service fees for assay processing is recognized upon the rendering of the related performance obligation which is typically the delivery of data and analysis of the samples that have been processed. For arrangements with multiple performance obligations, the Company allocates the contract price in proportion to its relative stand-alone selling price. The Company bundles most systems and consumables so uses its best estimate of selling price for its products based on historical sales and adjusted for similar products, geographies, and differences in customers. For service, the best estimate of selling price is based on historical stand-alone sales, as stand-alone sales on services are more readily available. The Company reviews its stand-alone prices at least annually or more frequently if facts and circumstances significantly change. The Company generally recognizes expense related to the acquisition of contracts, such as sales commissions, at the time of revenue recognition, which is generally in the same period products are sold, and in the case of services, revenue is recognized as services are rendered or over the period of time covered by the service contract. The Company records commission expenses within selling, general and administrative expenses. Product and service revenues from sales to customers through distributors are recognized consistent with the policies and practices for direct sales to customers, as described above. Cost of Product and Service Revenue Cost of product and service revenue consists primarily of costs incurred in the production process, including costs of purchasing instruments from third-party contract manufacturers, consumable component materials and assembly labor and overhead, installation, warranty, service and packaging and delivery costs. In addition, cost of product and service revenue includes royalty costs for licensed technologies included in the Company’s products, provisions for slow-moving and obsolete inventory and stock-based compensation expense. Cost of product and service revenue for instruments and consumables is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product and service revenue in the consolidated statements of operations. Reserve for Product Warranties The Company generally provides a one-year warranty on both its nCounter Analysis Systems and GeoMx DSP systems, and establishes a reserve for future warranty costs based on historical product failure rates and actual warranty costs incurred. Warranty expense is recorded as a component of cost of product and service revenue in the consolidated statements of operations. Warranty reserves were $1.0 million and $0.7 million as of December 31, 2020 and 2019, respectively. Research and Development Research and development expenses, consisting primarily of salaries and benefits, stock-based compensation expense, occupancy costs, laboratory supplies, contracted services, consulting fees, software development and related costs, are expensed as incurred. Selling, General and Administrative Selling expenses consist primarily of personnel related costs for sales and marketing, contracted services and service fees and are expensed as the related costs are incurred. Advertising costs are expensed as incurred and are included in sales and marketing expenses. Advertising costs totaled approximately $3.4 million, $5.7 million and $4.8 million during the years ended December 31, 2020, 2019 and 2018, respectively. General and administrative expenses consist primarily of personnel related costs for the Company’s finance, human resources, business development, legal, information technology and general management, as well as professional fees for legal, accounting and other consulting services. General and administrative expenses are expensed as they are incurred. Foreign Currency The functional currency of our foreign subsidiaries is the U.S. dollar. Accordingly, monetary balance sheet accounts are remeasured using exchange rates in effect at the balance sheet dates and non-monetary items are remeasured at historical exchange rates. Expenses are generally remeasured at the average exchange rates for the period. Foreign currency remeasurement and transaction gains and losses are included in interest and other income (expense), net and were not material for the years ended December 31, 2020, 2019 and 2018, respectively. Income Taxes The Company accounts for income taxes under the liability method. Under the liability method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. The Company determines whether a tax position is more likely than not to be sustained upon examination based on the technical merits of the position. For tax positions meeting the more-likely-than-not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. Stock-Based Compensation The Company accounts for stock-based compensation under the fair value method. Stock-based compensation costs related to stock options and restricted stock units (“RSUs”) which are granted by the Company are calculated using the grant-date fair value, estimated using the Black-Scholes option pricing model for stock options and the intrinsic method for RSUs. Stock-based compensation expense is recognized based on the number of awards ultimately expected to vest, using actual forfeitures when incurred. The Company uses the straight-line attribution method over the vesting period for recognizing compensation expense for awards with a service condition. For awards with service and performance conditions, the accelerated recognition method is used over the graded vesting schedules for the awards. Guarantees and Indemnifications In the normal course of business, the Company guarantees and/or indemnifies other parties, including vendors, lessors and parties to transactions with the Company, with respect to certain matters. The Company has agreed to hold the other parties harmless against losses arising from breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. It is not possible to determine the maximum potential amount the Company could be required to pay under these indemnification agreements, since the Company has not had any prior indemnification claims, and each claim would be based upon the unique facts and circumstances of the claim and the particular provisions of each agreement. In the opinion of management, any such claims would not be expected to have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. The Company did not have any related liabilities recorded at December 31, 2020 and 2019. Comprehensive Loss Comprehensive loss includes certain changes in equity that are excluded from net loss. Specifically, unrealized gains and losses on available-for-sale debt securities are included in comprehensive (income) loss. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued “ASU 2016-13, Financial Instruments: Credit Losses.” The standard requires disclosure regarding expected credit losses on financial instruments at each reporting date, and changes how other than temporary impairments on investment securities are recorded. The Company adopted the ASU on January 1, 2020 using the modified retrospective transition approach and the adoption did not have a material impact on its consolidated results of operations, financial condition, cash flows and financial statement disclosures for the year ended December 31, 2020. In August 2018, the FASB issued “ASU 2018-15, Intangibles — Goodwill and other — Internal-use software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted the standard, on a prospective basis, on January 1, 2020. Historically, the Company has had a practice of expensing the implementation costs related to cloud computing arrangements. Upon adoption of the standard, the Company may capitalize certain implementation costs for new cloud computing arrangements in other assets, and amortize the costs over the related service contract period for the hosted arrangement. The amortization of the implementation costs and the related service contract costs will be presented in its results of operations. The adoption did not have a material impact to the consolidated results of operations, financial condition, cash flows, and financial statement disclosures for the year ended December 31, 2020. In November 2018, the FASB issued “ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606.” The new guidance clarifies when certain transactions between collaborative arrangement participants which should be accounted for as revenue under Topic 606. The Company adopted the standard on January 1, 2020. The Company has assessed its collaborative arrangements and concluded no adjustment is necessary, based on guidance in the standard. In December 2019, the FASB issued “ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” The new guidance simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company adopted this ASU effective January 1, 2020 and, as a result, was able to determine the effect of income or loss from continuing operations using a computation that does not consider the tax effects of items that are not included in continuing operations. As such, for the year ended December 31, 2020, the Company did not record a tax expense or benefit in its net loss from operations related to deferred tax assets and liabilities associated with its Convertible Notes. See to Note 10. Long-term Debt, Net for additional information. Recent Accounting Pronouncements In August 2020, the FASB issued “ASU 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40).” The new guidance simplifies the number of accounting models for convertible instruments; and as a result, under the remaining available models, removes the requirement to separately account for conversion features between liability and equity components. The ASU will become effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, with adoption as of the beginning of

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Revenue from Contracts with Customers The Company operates as a single reportable segment. The Company has one sales force that sells the Company’s nCounter Analysis systems, its GeoMx DSP systems, and the consumables and services related to these platforms. Disaggregated Revenues The following table of total revenue is based on the geographic location of end users or distributors who purchase products and services, and of our collaborators. For sales to distributors, their geographic location may be different from the geographic location of the ultimate end customer. For collaboration agreements, revenues are derived from partners located primarily in the United States. Americas consists of the United States, Canada, Mexico and South America; and Asia Pacific includes Japan, China, South Korea, Singapore, Malaysia, India and Australia. The following table provides information about disaggregated revenue by major product line and primary geographic market (in thousands): Year Ended December 31, 2020 Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 30,016 $ 11,134 $ 6,680 $ 47,830 Consumables 34,922 12,203 2,972 50,097 Total product revenue 64,938 23,337 9,652 97,927 Service revenue 8,977 3,560 980 13,517 Total product and service revenue 73,915 26,897 10,632 111,444 Collaboration revenue 5,872 — — 5,872 Total revenue $ 79,787 $ 26,897 $ 10,632 $ 117,316 Year Ended December 31, 2019 Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 18,578 $ 8,083 $ 4,413 $ 31,074 Consumables 37,983 19,085 3,936 61,004 Total product revenue 56,561 27,168 8,349 92,078 Service revenue 7,724 3,121 791 11,636 Total product and service revenue 64,285 30,289 9,140 103,714 Collaboration revenue 21,854 — — 21,854 Total revenue $ 86,139 $ 30,289 $ 9,140 $ 125,568 Year Ended December 31, 2018 Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 12,033 $ 6,677 $ 2,731 $ 21,441 Consumables 32,667 16,941 3,684 53,292 Total product revenue 44,700 23,618 6,415 74,733 Service revenue 6,228 2,097 465 8,790 Total product and service revenue 50,928 25,715 6,880 83,523 Collaboration revenue 23,209 — — 23,209 Total revenue $ 74,137 $ 25,715 $ 6,880 $ 106,732 Total revenue in the United States was $77.5 million, $83.9 million and $71.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. The Company’s assets are primarily located in the United States and not allocated to any specific geographic region. Substantially all of the Company’s long-lived assets are located in the United States. Contract balances and remaining performance obligations Contract liabilities are comprised of the current and long-term portions of deferred revenue of $7.0 million and $5.0 million as of December 31, 2020 and December 31, 2019, respectively, and customer deposits of $1.6 million and $6.4 million as of December 31, 2020 and December 31, 2019, respectively, included within the consolidated balance sheets. Total contract liabilities decreased by $2.7 million for the year ended December 31, 2020 as a result of the recognition of previously deferred revenue and customer deposits of $14.9 million for the completion of certain performance obligations during the period, partially offset by cash payments received of $12.2 million related to our collaborations and service contracts. The Company did not record any contract assets as of December 31, 2020. The Company’s contractual payment terms for its contracts with customers approximate 45 days on average. As of December 31, 2020, the Company had satisfied all performance obligations related to the collaboration agreement with Lam Research Corporation (“Lam”) and all committed funding had been received and utilized by the Company in its research and development of its Hyb & Seq technologies. Performance obligations related to undelivered products and service contracts as of December 31, 2020 were $8.6 million and are expected to be completed over the term of the related contract, or as products are delivered.

Short-term Investments

Short-term Investments	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Short-term Investments	Short-term Investments Short-term investments consisted of available-for-sale and equity securities as follows (in thousands): Type of securities as of December 31, 2020 Amortized cost Gross Gross Fair value Corporate debt securities $ 22,338 $ 71 $ — $ 22,409 U.S. government-related debt securities 5,000 3 — 5,003 Asset-backed securities 1,462 9 — 1,471 Total available-for-sale debt securities $ 28,800 $ 83 $ — $ 28,883 Type of securities as of December 31, 2019 Amortized cost Gross Gross Fair value Corporate debt securities $ 78,243 $ 89 $ (2) $ 78,330 U.S. government-related debt securities 26,966 37 — 27,003 Asset-backed securities 11,950 21 — 11,971 Total available-for-sale debt securities 117,159 147 (2) 117,304 Corporate equity securities 9,893 625 — 10,518 Total short-term investment securities $ 127,052 $ 772 $ (2) $ 127,822 The fair values of available-for-sale debt securities by contractual maturity at December 31 were as follows (in thousands): 2020 2019 Maturing in one year or less $ 28,883 $ 101,751 Maturing in one to three years — 15,553 Total available-for-sale debt securities 28,883 117,304

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company establishes the fair value of its assets and liabilities using the price that would be received to sell an asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to measure fair value. The three levels of the fair value hierarchy are as follows: • Level 1 — Quoted prices in active markets for identical assets and liabilities. • Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The recorded amounts of certain financial instruments, including cash, accounts receivable, prepaid expenses and other, accounts payable and accrued liabilities, approximate fair value due to their relatively short-term maturities. The recorded amount of the Company’s long-term debt can be determined based on the estimated or actual bid prices of the Convertible Senior Notes in an over-the-counter market, which are classified as a Level 2 financial instrument. The Company’s investments by level within the fair value hierarchy were as follows (in thousands): Type of securities as of December 31, 2020 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 400,757 $ — $ — $ 400,757 Short-term investments: Corporate debt securities — 22,409 — 22,409 U.S. government-related debt securities — 5,003 — 5,003 Asset-backed securities — 1,471 — 1,471 Total $ 400,757 $ 28,883 $ — $ 429,640 Type of securities as of December 31, 2019 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 22,152 $ — $ — $ 22,152 Short-term investments: Corporate debt securities — 78,330 — 78,330 U.S. government-related debt securities — 27,003 — 27,003 Asset-backed securities — 11,971 — 11,971 Corporate equity securities 10,518 — — 10,518 Total $ 32,670 $ 117,304 $ — $ 149,974 In March 2020, the Company issued $230.0 million of Convertible Senior Notes of which $88.6 million was used to repay amounts owed and fees associated with the termination of its term loan agreement and revolving line of credit as described in more detail in Note 10. Long-term Debt, Net. As of December 31, 2020, the fair value of the Convertible Senior Notes was $355.4 million.

Sale of Business to Veracyte (N

Sale of Business to Veracyte (Notes)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Sale of Business to Veracyte	Sale of Business to Veracyte In December 2019, the Company entered into a License and Asset Purchase Agreement (“LAPA”) and Service and Supply Agreements (“SSAs”), with Veracyte, Inc. (“Veracyte”). Pursuant to the LAPA, the Company completed a license of intellectual property and a sale of certain assets relating to the Company’s nCounter FLEX platform for use in clinical diagnostic applications, including Prosigna distribution rights to Veracyte. Additionally, the Company provided Veracyte a worldwide exclusive license to market and sell clinical diagnostic tests developed for the Company’s nCounter FLEX platform, including worldwide rights to Prosigna. Veracyte also acquired certain intellectual property rights from the Company relating to Prosigna and the Company’s proprietary LymphMark assay. Pursuant to the terms of the LAPA, Veracyte paid the Company total consideration of $50.0 million, consisting of $40.0 million in cash paid in connection with the entry into the LAPA, and 376,732 shares of Veracyte common stock valued at $10.0 million, which shares were issued in connection with the entry into the LAPA. Additionally, the Company may receive future potential milestone payments of up to $10.0 million in the aggregate, to be paid upon the launch of additional clinical diagnostic tests by Veracyte for the Company’s nCounter FLEX platform. In addition, Veracyte has agreed to assume the obligation to pay specified royalties under the Company’s existing agreement with Bioclassifier, LLC, which was assigned to Veracyte in connection with the transaction. Pursuant to the LAPA, Veracyte offered certain of the Company’s employees employment with Veracyte. Pursuant to the SSAs, the Company agreed to supply to Veracyte nCounter FLEX systems, and also agreed to manufacture and supply Prosigna kits, LymphMark kits and any additional clinical diagnostic tests that Veracyte may develop in the future for nCounter, for a period of at least four years subsequent to the transaction date. Pursuant to these SSAs, Veracyte will pay the designated transfer prices for nCounter FLEX systems, Prosigna kits, LymphMark kits and any other nCounter-based diagnostic tests developed by Veracyte. The sale of assets and license pursuant to the LAPA was considered the disposition of a business and, accordingly, the Company has included a gain on sale of business, net of $48.9 million as non-operating income in the consolidated statements of operations as of December 31, 2019, net of transaction costs of $1.1 million. The disposition did not represent a strategic shift that will have a major effect on the Company’s operations and financial results. The cash consideration received at closing, as well as any future cash payments received pursuant to the future milestones will be recognized as an investing cash in-flow in the consolidated statements of cash flows. Substantially all of the intangible assets sold had no book value for the Company. The Company has not recognized any gain related to the future milestone payments as these are considered contingent consideration for which a gain will be recognized in the future when the milestones are achieved and the gain is realizable. The Company has accounted for the Veracyte common stock in accordance with ASC 321, Investments - Equity Securities

Leases (Notes)

Leases (Notes)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Company is obligated to make future minimum payments under four operating leases for 134,296 square feet of space used for manufacturing, research and development and general operations primarily in the greater Seattle area. The operating leases have terms that expire from 2026 to 2030 and include renewal options to extend the lease term at the then current fair market rental for each of the lease agreements. None of the options to extend the rental term of existing leases were considered reasonably certain as of December 31, 2020. The Company’s operating leases contain rent abatement periods, scheduled rent increases and provide for tenant improvement allowances. In addition, the Company enters into finance lease right-of-use assets, included in other assets, and lease liabilities, included in deferred revenues and other liabilities, primarily for equipment used in its operations. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. The following table provides the components of the Company’s lease cost (in thousands): 2020 2019 Operating lease cost $ 5,354 $ 6,004 Finance lease cost: Amortization of right-of-use assets 138 — Interest on lease liabilities 16 — Total lease cost $ 5,508 $ 6,004 Rent expense totaled approximately $4.9 million for the year ended December 31, 2018. Other information related to leases for the year ended December 31 were as follows (in thousands): 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,160 $ 5,579 Operating cash flows from finance leases 138 — Financing cash flows from finance leases 135 — Weighted average remaining lease term (years) - operating leases 5.8 6.7 Weighted average remaining lease term (years) - financing leases 2.4 N/A Weighted average discount rate - operating leases 7.1 % 7.1 % Weighted average discount rate - financing leases 4.8 % N/A Future minimum lease payments under the lease agreements as of December 31, 2020 were as follows (in thousands): Finance Operating 2021 $ 196 $ 6,266 2022 196 6,327 2023 67 6,506 2024 16 6,690 2025 — 6,880 Thereafter — 4,107 Total future minimum lease payments 475 36,776 Less: imputed interest (28) (6,860) Total $ 447 $ 29,916

Inventory

Inventory	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventory	Inventory, Net Inventory consisted of the following at December 31 (in thousands): 2020 2019 Raw materials $ 4,286 $ 4,620 Work in process 5,981 4,617 Finished goods 12,692 10,544 Total inventory, net $ 22,959 $ 19,781

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following at December 31 (in thousands): Useful Life 2020 2019 Manufacturing equipment 5 $ 15,311 $ 12,292 Prototype instruments 2 2,128 2,202 Computer equipment 3 3,860 2,779 Furniture and fixtures 5 1,990 1,565 Leasehold improvements Various 19,347 12,005 Construction in progress 1,233 7,592 Total property and equipment, gross 43,869 38,435 Less: Accumulated depreciation and amortization (23,041) (18,251) Total property and equipment, net $ 20,828 $ 20,184 Prototype instruments consist of various nCounter and GeoMx DSP instruments used in internal testing and other development activities. During 2019, the Company disposed of leased and loaner instruments, in conjunction with the Veracyte LAPA agreement. Depreciation and amortization expense related to property and equipment for the years ended December 31, 2020, 2019 and 2018 totaled approximately $5.7 million, $4.9 million and $4.0 million, respectively.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-term Debt Convertible Senior Notes In March 2020, the Company issued $230.0 million in aggregate principal amount of 2.625% Convertible Senior Notes due 2025 (“Convertible Notes”) in a private offering. The Convertible Notes are governed by an indenture dated March 9, 2020 between the Company and U.S. Bank, National Association, as trustee. The Company received net proceeds from the offering of $222.6 million. The Company used $88.6 million to repay in full all outstanding amounts borrowed, accrued interest and fees owed in connection with the termination of the Company’s amended and restated term loan agreement (“2018 Term Loan”) with Capital Royalty Group, and the fees owed in connection with the termination of the Company’s revolving credit facility with Silicon Valley Bank. The Convertible Notes bear interest at a rate of 2.625% per year, payable semi-annually in arrears on March 1 and September 1, beginning on September 1, 2020. The Convertible Notes may bear additional interest under specified circumstances relating to the Company’s failure to comply with its reporting obligations under, or if the Convertible Notes are not freely tradeable as required by, the indenture governing the Convertible Notes. Upon conversion, the Convertible Notes will be convertible into cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election. The Company’s current intent is to settle the principal amount of the Convertible Notes in cash upon conversion, with any remaining conversion value being delivered in shares of its common stock. The Convertible Notes are general unsecured senior obligations and will mature on March 1, 2025, unless earlier repurchased, redeemed or converted, subject to satisfaction of certain conditions and during the periods described below. The initial conversion rate for the Convertible Notes is 20.9161 shares of common stock, par value $0.0001 per share, per $1,000 principal amount of Convertible Notes (which is equivalent to an initial conversion price of approximately $47.81 per share). The conversion rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that may occur prior to the maturity date or if the Company issues a notice of redemption, the Company will increase the conversion rate for a holder who elects to convert its Convertible Notes in connection with such corporate event or in connection with such redemption, as the case may be, in certain circumstances. Prior to the close of business on the business day immediately preceding December 1, 2024, the Convertible Notes will be convertible only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business-day period after any five consecutive trading-day period in which the trading price per $1,000 principal amount of Convertible Notes for each trading day of such period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; (3) if the Company calls any or all of the Convertible Notes for redemption, the Convertible Notes called for redemption (or, in the case of a partial redemption, if the Company makes an election to redeem all Convertible Notes, irrespective of whether they are called for redemption, to be convertible, all Convertible Notes) may be submitted for conversion at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date as set forth in the related redemption notice; or (4) upon the occurrence of specified corporate events. On or after December 1, 2024, until the close of business on the business day immediately preceding the maturity date, holders of the Convertible Notes may convert all or any portion of their Convertible Notes at any time, regardless of the foregoing circumstances. The Company may not redeem the Convertible Notes prior to March 5, 2023, and no sinking fund is provided for the Convertible Notes. On or after March 5, 2023, the Company may redeem for cash all or any portion of the Convertible Notes, at its option, if the last reported sale price of the common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading-day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides a notice of redemption at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. Upon the occurrence of a fundamental change (as defined in the indenture governing the Convertible Notes) prior to the maturity date, subject to certain conditions, holders may require the Company to repurchase all or a portion of the Convertible Notes in increments of $1,000 for cash at a price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The Convertible Notes do not contain any financial or operating covenants or any restrictions on the issuance of other indebtedness or the issuance or repurchase of securities by the Company. The Convertible Notes indenture contains customary events of default, including that upon certain events of default, 100% of the principal and accrued and unpaid interest on the Convertible Notes will automatically become due and payable. As the Company has the ability to settle the Convertible Notes in cash, common stock or a combination thereof, the Company separately accounted for the embedded conversion feature of the Convertible Notes by allocating proceeds between a liability and an equity component. The initial amount of the liability component of $169.5 million was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The borrowing rate was determined to be 9.35% based on the market rates for nonconvertible debt instruments issued by other companies with publicly available credit ratings considered to be comparable to the Company. The residual between the proceeds from the issuance of $230.0 million and the fair value of the liability component of $169.5 million is allocated to the equity component (residual method), which was recorded at $60.5 million and recognized as a debt discount. The Company incurred approximately $7.4 million of debt issuance costs, which primarily consisted of underwriting, legal and other professional fees directly associated with the issuance. The issuance costs were allocated to the liability and equity component proportionately based on the allocation of total proceeds. The equity component of $58.5 million, net of issuance costs of $1.9 million, was recorded in additional paid-in capital in the Company’s condensed consolidated balance sheets and will not be remeasured as long as it continues to meet the conditions for equity classification. The liability component, net of issuance costs of $5.5 million, was recorded as long-term debt, net in the Company’s condensed consolidated balance sheets. The debt discount and debt issuance costs allocated to the liability component will be amortized to interest expense using the effective interest method over five years, the term of the Convertible Notes. While the Convertible Notes are classified on the Company’s consolidated balance sheet at December 31, 2020 as long-term, the resulting balance sheet classification of this liability will be monitored at each quarterly reporting date and will be analyzed dependent upon whether the Convertible Notes are convertible or subject to an event triggering potential redemption during the prescribed measurement periods. In the event that the holders of the Convertible Notes have the election to convert the Convertible Notes or the Convertible Notes become redeemable at any time during the prescribed measurement period, the Convertible Notes would then be considered a current obligation and classified as such. While for GAAP purposes, the Convertible Notes are allocated between the liability component and the equity component, for U.S. tax purposes there is no allocation, and a deferred tax liability is recognized related to such difference. The Company adopted “ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” effective January 1, 2020 and, as a result, was able to determine the effect of income or loss from continuing operations using a computation that does not consider the tax effects of items that are not included in continuing operations, including the deferred tax liability associated with the Company’s convertible notes. As such, for the year ended December 31, 2020, the Company did not record a tax expense or benefit in its consolidated net loss from operations related to deferred tax assets and liabilities associated with its Convertible Notes. All future principal payments related to the Convertible Notes are due in March 2025. The outstanding balances of the Company’s Convertible Notes and previously outstanding term loan consisted of the following at December 31 (in thousands): 2020 2019 Outstanding principal of Convertible Note $ 230,000 $ — Borrowings under term loan agreement — 80,000 Paid-in-kind interest on term loan agreement — 2,593 Less: unamortized debt discounts and issuance costs (57,297) (2,642) Long-term debt, net $ 172,703 $ 79,951 Based on the closing price of our common stock of $66.88 on the last trading day of the quarter, the if-converted values of the Convertible Notes exceeded the remaining principal amounts by $91.7 million as of December 31, 2020. During the three months ended December 31, 2020, the conditions allowing holders of the Convertible Notes to convert were not met. The following table sets forth total interest expense recognized related to the Convertible Notes (in thousands): For the Year Ending December 31, 2020 Contractual interest expense $ 4,897 Amortization of debt discount and issuance costs 8,650 Total interest expense $ 13,547 Term Loan Agreement In October 2018, the Company entered into an amended and restated term loan agreement with Capital Royalty Group (the “2018 Term Loan”), under which it could borrow up to $100.0 million, which was due and payable in September 2024. The 2018 Term Loan accrued interest at a rate of 10.5%, payable quarterly, of which 3.0% could be deferred, at the Company’s election, during the six-year term and repaid at maturity together with the principal. The Company paid an upfront fee of 0.5% of the aggregate principal amount of the initial borrowing under the 2018 Term Loan, and was required to pay a facility fee equal to 2.0% of the total amount borrowed including any deferred interest at the time the principal is repaid. The Company borrowed a total of $80.0 million under the 2018 Term Loan and obligations were collateralized by substantially all of the Company’s assets. In connection with entry into the 2018 Term Loan, warrants to purchase an aggregate of 341,578 shares of common stock with an exercise price per share of $21.12 were issued to the lenders. In June 2019, in connection with the borrowing of an additional $20.0 million principal amount, warrants to purchase an aggregate of 128,932 shares of common stock with an exercise price per share of $34.20 were issued to the lenders. In March 2020, the Company terminated the 2018 Term Loan agreement. The Company used $88.6 million of the proceeds from the Convertible Notes to repay in full all outstanding principle, interest and fees associated with termination of the loan. For the year ended December 31, 2020, the Company incurred interest expense of $15.4 million, related to the 2018 Term Loan and the Convertible Notes. For the years ended December 31, 2019 and 2018, the Company incurred interest expense of $8.5 million and $7.4 million, respectively, associated with the 2018 Term Loan. The terminations of the previous debt facilities were accounted for as debt extinguishment and the Company recorded a charge of $6.6 million associated with the elimination of previously deferred financing costs, and for fees and penalties incurred upon termination of the facilities and other costs. These costs have been included as a Loss on extinguishment of debt and termination of revolving loan facility in the Company’s consolidated statements of operations. 2018 Revolving Loan Facility In January 2018, the Company entered into a $15.0 million secured revolving loan facility, with availability subject to a borrowing base consisting of eligible accounts receivable. In November 2018, the Company entered into an amended and restated loan and security agreement to increase the borrowing capacity under the facility to $20.0 million, amend the borrowing base to include finished goods inventory, and extend the final maturity under the facility to November 2021. In March 2020, the Company terminated the revolving loan facility and paid termination fees of $0.5 million. There were no amounts outstanding under the revolving loan facility at the time of termination. These costs have been included as a Loss on extinguishment of debt and termination of revolving loan facility in the Company’s consolidated statements of operations.

Collaboration Agreements

Collaboration Agreements	12 Months Ended
	Dec. 31, 2020
Deferred Revenue Disclosure [Abstract]
Collaboration Agreements	Collaboration Agreements At the time of entering into collaboration agreements, the Company evaluates the appropriate presentation and classification of payments within its consolidated financial statements based on the nature of the arrangement, the nature of its business operations and the contractual terms of the arrangement. The Company has determined that amounts to be received from collaborators in connection with its collaboration agreements entered into through December 31, 2020 are related to revenue generating activities. For certain types of historical collaboration agreements in which the Company received up front payments, or milestone or contractual based payments, the Company used a contingency-adjusted proportional performance model to recognize revenue over the Company’s performance period for each collaboration agreement. Costs incurred to date compared to total expected costs are used to determine proportional performance, as this is considered to be representative of the delivery of outputs under the arrangement. Revenue recognized at any point in time is a factor of and limited to cash received and amounts contractually due. Changes in estimates of total expected costs are accounted for prospectively in the period of change. The Company recognizes revenue from collaboration agreements that do not include up front, milestone-based, or other contractual payments when earned, which is generally in the same period that related costs are incurred. Amounts due to collaboration partners are recognized when the related activities have occurred and are classified in the statement of operations, generally as research and development expense, based on the nature of the related activities. Lam Research Corporation In August 2017, the Company entered into a collaboration agreement with Lam with respect to the development of the Company’s Hyb & Seq platform and related assays. Pursuant to the terms of the collaboration agreement, Lam contributed up to an aggregate of $50.0 million towards the project. Lam is eligible to receive certain single-digit percentage royalty payments from the Company on net sales of certain products and technologies developed under the collaboration agreement, if any such net sales are ever recorded. The maximum amount of royalties payable to Lam will be capped at an amount up to three times the amount of development funding actually provided by Lam. The Company retains exclusive rights to obtain regulatory approval, manufacture and commercialize the Hyb & Seq products. Lam participates in research and product development through a joint steering committee. The Company will reimburse Lam for the cost of up to 10 full-time Lam employees each year in accordance with the product development plan. The Company recognized revenue related to the Lam agreement of $4.8 million, $16.3 million and $18.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. The Company received development funding of $14.9 million and $21.7 million related to the Lam collaboration for the years ended December 31, 2019 and 2018, respectively. As of December 31, 2019, Lam had provided the full development funding commitment of $50.0 million and the Company does not expect to receive any further funding from Lam in future periods. In January 2020, Lam elected to exercise, in full, its warrant for 1.0 million shares of common stock, for which the Company issued an aggregate of 407,247 shares to Lam. In connection with Lam’s exercise of the warrant, the Company agreed to waive certain restrictions associated with the sale of the common stock in exchange for commitments by Lam related to the method and timing of Lam’s sale of the shares. Celgene Corporation In March 2014, the Company entered into a collaboration agreement with Celgene Corporation (“Celgene”) to develop, seek regulatory approval for, and commercialize a companion diagnostic using the nCounter Analysis System to identify a subset of patients with Diffuse Large B-Cell Lymphoma. In February 2018, the Company and Celgene entered into an amendment to their collaboration agreement in which Celgene agreed to provide the Company additional funding for work intended to enable a subtype and prognostic indication for the test being developed under the agreement for Celgene’s drug REVLIMID. In connection with this amendment, the Company agreed to remove the right to receive payments from Celgene in the event commercial sales of the companion diagnostic test do not exceed certain pre-specified minimum annual revenues during the first three years following regulatory approval. In addition, the amendment allows Celgene, at its election, to use trial samples with additional technologies for companion diagnostics. Pursuant to its collaboration with Celgene, the Company had been developing an in vitro diagnostic test, LymphMark, as a potential companion diagnostic to aid in identifying patients with diffuse large B-cell lymphoma (DLBCL) for treatment. In April 2019, Celgene announced that the trial evaluating REVLIMID for the treatment of DLBCL did not meet its primary endpoint. In May 2019, the Company’s collaboration agreement with Celgene was terminated effective July 2019, resulting in the recognition of substantially all of the remaining deferred revenue from the agreement. The Company recognized revenue related to the Celgene agreement of $4.4 million and $2.6 million for the years ended December 31, 2019 and 2018, respectively. The Company received development funding of $1.1 million and $0.6 million for the years ended December 31, 2019 and 2018, respectively. Merck & Co., Inc. In May 2015, the Company entered into a clinical research collaboration agreement with Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. (“Merck”), to develop an assay intended to optimize immune-related gene expression signatures and evaluate the potential to predict benefit from Merck’s anti-PD-1 therapy, KEYTRUDA. However, in October 2017, Merck notified the Company of its decision not to pursue regulatory approval of the companion diagnostic test for KEYTRUDA and, in August 2018, the Company and Merck agreed to mutually terminate their development collaboration agreement, effective as of September 30, 2018, following the completion of certain close-out activities. As part of the mutual termination agreement, Merck granted to the Company a non-exclusive license to certain intellectual property that relates to Merck’s tumor inflammation signature. The Company recognized revenue related to the Merck agreement of $1.6 million for the year ended December 31, 2018. The Company received development funding of $1.1 million for the year ended December 31, 2018.

Common Stock and Preferred Stoc

Common Stock and Preferred Stock	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Common Stock and Preferred Stock	Common Stock and Preferred Stock Public Offerings In January 2018, the Company entered into a Sales Agreement with a sales agent to sell shares of the Company’s common stock through an “at the market” equity offering program for up to $40.0 million in gross cash proceeds. In March 2019, subsequent to the Company’s most recent public offering, the Company terminated this agreement. No shares of the Company’s common stock were sold under this agreement. In July 2018, the Company completed an underwritten public offering of 4,600,000 shares of common stock, including the exercise in full by the underwriters of their option to purchase 600,000 additional shares of common stock in August 2018, for total gross proceeds of $57.5 million. After underwriter’s commissions and other expenses of the offering, the Company’s aggregate net proceeds were approximately $53.8 million. In March 2019, the Company completed an underwritten public offering of 3,175,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase 675,000 additional shares of common stock. An additional 2,000,000 shares were sold by a related party stockholder. The Company’s total gross proceeds were $73.0 million. The Company did not receive any proceeds from the sale of shares of common stock by the related party stockholder. After underwriter’s commissions and other expenses of the offering, the Company’s aggregate net proceeds were approximately $68.3 million. In October 2020, the Company completed an underwritten public offering of 5,750,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase 750,000 additional shares of common stock. The Company’s total gross proceeds were $230.0 million. After underwriter’s commissions and other expenses of the offering, the Company’s aggregate net proceeds were $215.8 million. Common Stock Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors, subject to the prior rights of holders of other classes of stock outstanding. Preferred Stock Pursuant to the amended and restated certificate of incorporation filed by the Company immediately prior to the completion of its initial public offering, the Company’s board of directors is authorized to issue up to 15,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, redemption rights, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock. The issuance of preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing change in the Company’s control or other corporate action. As of December 31, 2020, no shares of preferred stock were issued or outstanding, and the board of directors has not authorized or designated any rights, preferences, privileges and restrictions for any class of preferred stock. Warrants Prior to the Company’s initial public offering, warrants to purchase preferred stock were issued related to certain financing transactions. All preferred stock warrants were converted into warrants to purchase common stock upon the effectiveness of the initial public offering. In addition, the Company has issued common stock warrants to third parties in

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation 2004 Stock Option Plan and 2013 Equity Incentive Plan The Company’s 2004 Stock Option Plan, 2013 Equity Incentive Plan, and the 2018 Inducement Equity Incentive Plan (the “Plans”) authorize the grant of stock options, restricted stock units (“RSUs”) and other equity awards to employees, directors and consultants. As of December 31, 2020, there were 11,835,327 shares authorized under the Plans. The Company has also granted RSUs that include service or service and certain performance conditions. These RSUs generally vest over service periods of 1-3 years at which time award recipients receive shares of common stock equivalent to the originally awarded number of RSUs. In the case of RSUs with service and performance obligation requirements, the number of RSUs that vest will be contingent on satisfying the service period and also based on achievement of all or part of the required performance obligations. All stock options granted have a ten-year term and generally vest and become exercisable over four years of continued employment or service as defined in each option agreement. The Board of Directors determines the option exercise price and may designate stock options granted as either incentive or nonstatutory stock options. The Company generally grants stock options to employees with exercise prices equal to the estimated fair value of the Company’s common stock on the date of grant. Stock Option Activity A summary of the Company’s stock option activity under the Plans is as follows: Shares Weighted- Weighted- Aggregate Outstanding at January 1, 2020 4,192,122 $ 14.42 6.47 $ 56,218 Granted 91,052 26.06 Canceled and forfeited (169,049) 16.55 Exercised (1,483,602) 12.64 Outstanding at December 31, 2020 2,630,523 $ 15.68 5.84 $ 134,670 December 31, 2020: Options vested and expected to vest 2,630,523 $ 15.68 5.84 $ 134,670 Options exercisable 1,901,861 $ 14.13 5.02 $ 34,348 The weighted-average grant-date fair value per share of options granted with exercise prices equal to the market price on the date of the grant were $18.89, $12.99 and $4.78 for the years ended December 31, 2020, 2019 and 2018, respectively. The aggregate intrinsic value in the table above is calculated as the difference between the exercise price of the underlying options and the quoted price of the Company’s common stock for all options that were in-the-money at December 31, 2020. The aggregate intrinsic value of options exercised was $80.6 million during 2020, $19.9 million during 2019, and $2.2 million during 2018, determined as of the option exercise date. The fair value of options vested was $14.5 million, $6.3 million and $6.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. The following table summarizes information about the Company’s stock options outstanding at December 31, 2020: Outstanding Exercisable Exercise Price Number of Weighted- Number of Weighted- $1.92 – $12.56 686,488 4.81 527,069 4.12 $12.77 – $14.99 584,628 4.74 563,444 4.64 $15.21 – $18.55 344,177 4.41 297,704 3.99 $18.68 – $22.71 393,152 6.55 302,418 6.04 $23.00 – $29.13 622,078 8.33 211,226 8.28 2,630,523 1,901,861 Restricted Stock Unit (RSU) Activity A summary of RSU activity under the Plans is as follows: Non-vested RSUs Share Equivalent Weighted-Average Grant Date Fair Value Non-vested at January 1, 2020 1,435,774 $ 18.69 Changes during the year: Granted 824,827 29.15 Vested (455,278) 15.29 Forfeited (200,601) 21.98 Non-vested at December 31, 2020 1,604,722 $ 24.61 The fair value of the RSUs is determined based on the closing price of the Company’s common stock on the date of grant. The fair value of vested RSUs was $12.5 million, $17.6 million and $1.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. During 2020, the Company modified certain of its RSUs for approximately 10 employees that contained both service and performance conditions which were originally granted in 2019. This modification resulted in incremental stock-based compensation expense of $4.7 million which will be recognized beginning from the date of the modification and over the remaining vesting period of the awards. Stock-based compensation The following table sets forth stock-based compensation expense related to stock-based arrangements under the Plans as presented within the consolidated statement of operations for the years ended December 31 as follows (in thousands): 2020 2019 2018 Cost of revenue $ 983 $ 786 $ 616 Research and development 3,864 4,100 3,156 Selling, general and administrative 13,643 11,726 6,982 Total stock-based compensation expense $ 18,490 $ 16,612 $ 10,754 As of December 31, 2020, total unrecognized stock-based compensation cost related to non-vested options and RSUs was $26.2 million for awards with a service component and $7.1 million for awards with a service and performance component. This cost will be recognized on a straight-line basis over the weighted-average remaining service period of 2.07 years, for stock awards with a service component, and 1.67 years for stock awards with a service and performance component . The Company utilizes newly issued shares to satisfy option exercises. No tax benefit was recognized related to stock-based compensation cost since the Company has not reported taxable income to date and has established a full valuation allowance to offset all of the potential tax benefits associated with its deferred tax assets. Valuation assumptions The fair value of each employee stock option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: 2020 2019 2018 Risk-free interest rates 0.54% — 1.69% 1.41% — 2.56% 2.22% — 3.01% Expected term (years) 6.08 5.12 — 6.08 5.50 — 6.09 Expected dividend yield —% —% —% Expected volatility 53.0% — 59.6% 52.6% — 58.0% 56.0% — 57.7% The risk-free interest rates are based on the implied yield currently available in U.S. Treasury securities at maturity with an equivalent term. For purposes of determining the expected term of the awards in the absence of sufficient historical data relating to stock-option exercises, the Company applies a simplified approach in which the expected term of an award is presumed to be the mid-point between the vesting date and the expiration date of the award. The Company has not declared or paid any dividends and does not currently expect to do so in the foreseeable future. Expected volatility is based on the historical cumulative volatility of the Company’s stock price. Employee Stock Purchase Plan The Company’s 2013 Employee Stock Purchase Plan (“ESPP”) provides eligible employees with an opportunity to purchase common stock from the Company and to pay for their purchases through payroll deductions. The ESPP has overlapping offering periods of approximately 12 months in length. The offering periods generally start with the first trading day on or after March 1 and September 1 of each year and end on the first trading day on or after March 1 and September 1 of the following year, approximately 12 months later. Within each offering period, shares are purchased each six months on an exercise date. An employee electing to participate in the ESPP (a “participant”) will be granted an option at the start of the offering period to purchase shares with contributions in any whole percentage ranging from 0% to 10% (or greater or lesser percentages or dollar amounts that the administrator determines) of the participant’s eligible compensation. The participant’s contributions will be accumulated and then used to purchase the Company’s shares on each exercise date. The purchase price on the exercise date will be 85% of the fair market value of the lesser of the Company’s share price on either the first trading day of the offering period or on the exercise date. During 2020, 2019 and 2018, shares issued under the ESPP were 89,477, 203,464 and 257,132, respectively. The Company recorded share-based compensation expense for shares issued from the ESPP of $0.9 million, $0.8 million and $0.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. A total of 1,642,147 shares of common stock have been reserved for issuance under the ESPP, of which 536,443 shares were available for issuance as of December 31, 2020.

Defined Contribution Retirement

Defined Contribution Retirement Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Defined Contribution Retirement Plan	Defined Contribution Retirement PlanThe Company maintains a 401(k) defined contribution retirement plan covering substantially all of its employees. The plan provides for matching and discretionary contributions by the Company. Contributions were $1.7 million, $1.5 million and $1.3 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Loss before income taxes for the years ended December 31 consisted of the following (in thousands): 2020 2019 2018 Domestic $ (111,101) $ (41,720) $ (78,124) Foreign 1,276 1,293 973 Loss before income taxes $ (109,825) $ (40,427) $ (77,151) Significant components of our provision for income taxes for the years ended December 31 are as follows (in thousands): 2020 2019 2018 Current: Domestic $ — $ — $ — Foreign 253 269 249 Total provision for income taxes $ 253 $ 269 $ 249 A reconciliation of the federal statutory income tax rate to the effective income tax rate for the years ended December 31 are as follows (in thousands): 2020 2019 2018 Income tax provision at federal statutory rate $ (23,063) $ (8,490) $ (16,202) Tax on repatriated foreign earnings and other nondeductible items 348 403 195 Section 162(m) limitations 5,044 1,438 — Change in tax credits 3,123 (3,738) (2,148) Change in valuation allowance 21,707 17,842 19,935 Changes in federal and state tax rates 586 (4,058) — Stock option exercise (windfall) shortfall (7,683) (1,763) 257 Adjustments to deferred stock compensation 3,060 — — State and Foreign tax, and other (2,869) (1,365) (1,788) Total provision for income taxes $ 253 $ 269 $ 249 At December 31, 2020, for income tax return purposes the Company has gross federal and state NOL carryforwards totaling $553.7 million and tax credit carryforwards of $10.2 million. The gross federal NOL carryforwards generated during and after fiscal 2018 totaling $204.4 million are carried forward indefinitely, while all others, if not utilized, will expire beginning in 2025 through 2037. The research and development credit carryforwards generated prior to 2018 will expire beginning in 2028. The carryforwards may be subject to limitations under the Internal Revenue Code and applicable state tax law. The Company does not expect to utilize any of its net operating loss and tax credit carryforwards in the near term. The Company may have already experienced one or more ownership changes. Depending on the timing of any future utilization of its carryforwards, the Company may be limited as to the amount that can be utilized each year as a result of such previous ownership changes. However, the Company does not believe such limitations will cause its carryforwards to expire unutilized. Future changes in the Company’s stock ownership as well as other changes that may be outside the Company’s control could potentially result in further limitations on the Company’s ability to utilize its net operating loss and tax credit carryforwards. The effect of temporary differences and carryforwards that give rise to deferred tax assets and liabilities for the years ended December 31 were as follows (in thousands): 2020 2019 Deferred tax assets: Net operating loss carryforwards $ 100,927 $ 73,310 Research and development tax credit carryforwards 9,513 12,636 Operating lease liability 6,962 7,653 Stock-based compensation 5,161 9,680 Foreign tax credit carryforwards 648 633 Accruals and other 8,138 8,219 Total deferred tax assets before allowance 131,349 112,131 Less: Valuation allowance (114,275) (106,438) Deferred tax assets, net 17,074 5,693 Deferred tax liabilities: Debt discount (equity component) 12,045 — Right of use asset 5,029 5,693 Deferred tax liability 17,074 5,693 Net deferred tax assets and liabilities $ — $ — Certain of the amounts in the income tax rate table and deferred tax assets table above reflect reclassifications and corrections that were immaterial to the financial statements taken as a whole. The deferred tax assets and liabilities disclosure at December 31, 2019 has been adjusted to reflect the gross deferred tax right-of-use asset and related gross deferred lease liability recognized in accordance with ASC 842. The Company has recorded a full valuation allowance related to its deferred tax assets due to the uncertainty of the ultimate realization of the future benefits from those assets. The table below summarizes changes in the deferred tax asset valuation allowance for the years ended December 31 (in thousands): 2020 2019 2018 Balance at beginning of year $ 106,438 $ 88,596 $ 68,661 Charged to costs and expenses 8,423 13,784 19,935 Impact of change in tax rate (586) 4,058 — Balance at end of year $ 114,275 $ 106,438 $ 88,596 The total balance of unrecognized gross tax benefits for the years ended December 31, resulting from research and development tax credits claimed on the Company’s annual tax return was as follows (in thousands): 2020 2019 2018 Unrecognized tax benefits at beginning of year $ 4,212 $ 2,830 $ 2,168 Additions based on current year tax positions 4,959 1,382 662 Unrecognized tax benefits at end of year $ 9,171 $ 4,212 $ 2,830 The Company classifies applicable interest and penalties on amounts due to tax authorities as a component of the provision for income taxes. The amount of accrued interest and penalties recorded in 2020, 2019 or 2018 was not significant. The Company does not anticipate that the amount of its existing unrecognized tax benefits will significantly increase or decrease within the next 12 months. Due to the presence of net operating loss carryforwards in most jurisdictions, the Company’s tax years remain open for examination by U.S. taxing authorities back to 2004.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies From time to time, the Company may become involved in litigation relating to claims arising from the ordinary course of business. Additionally, the Company operates in various states and local jurisdictions for which sales, occupation, or franchise taxes may be payable to certain taxing authorities. Management believes that there are no claims or actions pending against the Company currently, the ultimate disposition of which would have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. Purchase Commitments At December 31, 2020 the Company has non-cancellable purchase obligations of $21.4 million related to binding commitments to purchase inventory and other research and development items.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding. Certain common stock participating securities, such as outstanding stock options, restricted stock units, and common stock warrants have not been included in the calculation of diluted net loss per share because to do so would be anti-dilutive. Accordingly, the numerator and the denominator used in computing both basic and diluted net loss per share for each period are the same. The following common stock participating securities as of December 31 were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive (in thousands): 2020 2019 2018 Options to purchase common stock 3,379 4,610 5,395 Restricted stock units 1,574 1,681 1,147 Common stock warrants 508 1,116 535

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Accounting Principles and Principles of Consolidation	The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. Each of the subsidiaries operates as a sales and support office. The functional currency of each subsidiary is the U.S. dollar. All significant intercompany balances and transactions have been eliminated.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and that affect the reported amounts of revenue and expenditures during the reporting period. Actual results could differ from those estimates. Significant estimates inherent in the preparation of the accompanying consolidated financial statements include the estimation of stand-alone selling prices for its products and services, the estimation of the valuation of inventory, the estimates used in the valuation allowance for deferred tax assets and uncertain tax positions, and estimates used in certain of the inputs and calculations associated with stock-based compensation.
Cash and Cash Equivalents	The Company considers all highly-liquid investments with purchased maturities of three months or less to be cash equivalents. The Company’s cash equivalents consist principally of funds maintained in depository accounts. The Company invests its cash and cash equivalents with major financial institutions; at times these investments exceed federally insured limits.
Investments	The Company classifies its debt securities as available-for-sale, which are reported at estimated fair value with unrealized gains and losses included in accumulated other comprehensive loss in stockholders’ equity. Realized gains, realized losses and allowance for estimated credit losses are included in other expense, net. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Amortization of premiums and accretion of discounts are included in other expense, net. Interest and dividends earned on all securities are included in other expense, net. Investments in debt securities with maturities of less than one year, or where management’s intent is to use the investments to fund current operations, or to make them available for current operations, are classified as short-term investments.Investments are presented net of an allowance for expected credit losses that are remeasured each period and any impairment recognized as an expense. The Company has considered all information and factors and noted no indicators that a credit loss exists as of December 31, 2020. The Company has not experienced any significant investment credit losses to date.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts receivable are stated net of an allowance for credit losses. The Company uses available information over the life of the receivables including analysis of past credit losses, recoveries of past credit losses, management’s expectations of future economic positions, as well as market conditions and other extenuating factors to support the allowance estimate.
Concentration of Credit Risks	Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments and accounts receivable. Cash is invested in accordance with the Company’s investment policy, which includes guidelines intended to minimize and diversify credit risk. Most of the Company’s investments are not federally insured. The Company has credit risk related to the collectability of its accounts receivable. The Company performs initial and ongoing evaluations of its customers’ credit history or financial position and generally extends credit on account without collateral.The Company is also subject to supply chain risks related to the outsourcing of the manufacturing and production of its instruments to sole suppliers. Although there are a limited number of manufacturers for instruments of this type, the Company believes that other suppliers could provide similar products on comparable terms. Similarly, the Company sources certain raw materials used in the manufacture of consumables from certain sole suppliers. A change in suppliers, however, could cause a delay in manufacturing and a possible loss of sales, which would adversely affect operating results.
Fair value of financial instruments	The recorded amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other assets, accounts payable and accrued liabilities approximate fair value due to their relatively short maturities. Investments that are classified as available-for-sale are recorded at fair value. The fair value for investment securities held and for convertible senior notes are determined using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency.
Inventory	Inventory consists of finished goods, work in process, raw materials and certain component parts to be used in manufacturing or servicing the Company’s products. Inventory is stated at the lower of cost or net realizable value. Cost is determined using a standard cost system, whereby the standard costs are updated periodically to reflect current costs and market represents the lower of cost or market (replacement cost or estimated net realizable value). The Company’s policy is to establish inventory reserves when conditions exist that suggest that inventory may be in excess of anticipated demand, obsolete, slow moving or impaired. In the event that the Company identifies these conditions exist in its inventory, its carrying value is reduced to its net realizable value.The Company outsources the manufacturing of its instruments to third-party contract manufacturers who manufacture them to certain specifications and source certain raw materials from sole source providers. Major delays in shipments, inferior quality, insufficient quantity or any combination of these or other factors may harm the Company’s business and results of operations. In addition, the inability of one or more of these suppliers to provide the Company with an adequate supply of its products or raw materials or the loss of one or more of these suppliers may cause a delay in the Company’s ability to fulfill orders while it obtains a replacement supplier and may harm the Company’s business and results of operations.
Property and Equipment	Property and equipment are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Expenditures for additions are capitalized and expenditures for maintenance and repairs are expensed as incurred. Gains and losses from the disposal of property and equipment are reflected in the consolidated statements of operations in the period of disposition. Useful Life Manufacturing equipment 5 years Prototype systems 2 years Computer equipment 3 years Furniture and fixtures 5 years Leasehold improvements Lessor of useful life or lease term
Leases and Leasehold Improvements	The Company determines if an arrangement is a lease at inception of a contract. The Company’s leasing portfolio is comprised of operating and finance leases primarily for general office, manufacturing and research and development purposes. Operating and finance lease liabilities and the corresponding right-of-use assets are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Operating lease right-of-use assets are reduced by lease incentives included in the agreement. As the existing leases do not contain an implicit interest rate, the Company estimates its incremental borrowing rate based on information available at commencement date in determining the present value of future payments. The Company includes options to extend the lease in the lease liability and right-of-use asset when it is reasonably certain that the option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company elected, as an accounting policy election, to use the short-term lease recognition exemption on all classes of assets. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the Company recognizes lease payments as an expense on a straight-line basis over the lease term. The Company has lease office agreements with lease and non-lease components, which are generally accounted for separately. For lease equipment agreements, the Company accounts for the lease and non-lease components as a single lease component. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants.the Company recognized rent expense for leases that provided for scheduled rent increases during the lease term on a straight-line basis over the term of the related lease. Leasehold improvements funded by landlord incentives or allowances were recorded in property and equipment and as a component of deferred rent and amortized as a reduction of rent expense over the term of the related lease.
Impairment of Long-Lived Assets	The Company recognizes impairment losses on long-lived assets when indicators of impairment are present and the anticipated undiscounted cash flows to be generated by those assets are less than the asset’s carrying values. During 2019, as a result of its sale of a business to Veracyte, the Company impaired certain leased and loaner nCounter instruments with a carrying value of $1.1 million which no longer had future economic value to the Company. Other than the impairment resulting from the Veracyte transaction in 2019, the Company has not experienced material impairment losses on its long-lived assets during the periods presented.
Debt, Policy	In accordance with accounting guidance for debt with conversion and other options, the Company separately accounted for the liability and equity components of the 2.625% Convertible Senior Notes due 2025 (“Convertible Notes”) by allocating the proceeds between the liability component and the embedded conversion feature, or the equity component, due to the Company’s ability to settle the Convertible Notes in cash, common stock or a combination of cash and common stock, at its option. The Company’s current intent is to settle the principal amount of the Convertible Notes in cash upon conversion, with any remaining conversion value being delivered in shares of its common stock. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The allocation was performed in a manner that reflected the Company’s non-convertible debt borrowing rate for similar debt. The equity component of the Convertible Notes was recognized as a debt discount and represents the difference between the proceeds from the issuance of the Convertible Notes and the fair value of the liability of the Convertible Notes on their respective dates of issuance. The excess of the principal amount of the liability component over its carrying amount is the debt discount and is amortized to interest expense using the effective interest method over five years. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. In connection with the issuance of the Convertible Notes, the Company also incurred certain financing costs associated directly with the issuance of the Convertible Notes. These issuance costs were deferred, and a portion of the deferred issuance costs have been deemed attributable to the equity component and have been allocated to additional paid-in capital. The remaining deferred issuance costs have been and will continue to be amortized to interest expense over five years from the original issuance date using the effective interest method.
Segments	Operating segments are defined as components of an entity for which separate financial information is available and evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the chief executive officer, who manages the operations and evaluates the financial performance on a total Company basis. The Company’s principal operations and decision-making functions are located at its corporate headquarters in the United States and the Company operates as a single operating and reporting segment.
Revenue Recognition	The Company recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration expected to be received in exchange for those products and services. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has transferred control of a product or service to the customer, meaning the customer has the ability to use and obtain the benefit of the product or service. The Company recognizes revenue for satisfied performance obligations only when there are no uncertainties regarding payment terms or transfer of control. The Company generates the majority of its revenue from sales of its proprietary nCounter Analysis System and its GeoMx DSP system, and related consumables. Services consist of instrument service contracts for maintenance, repair and other support related to customer owned instruments, and also certain service fees for assay processing and data analysis and reporting. Revenue from instruments and consumables is recognized generally upon shipment to the end customer, which is when control of the product has been transferred to the customer. Performance obligations related to instrument sales are reviewed on a contract-by-contract basis, as individual contract terms may vary and revenue is recognized as performance obligations are satisfied. Performance obligations for consumable products are generally completed upon shipment to the customer. While the Company typically completes installation and training of its customers with field-based service personnel, these services can also be provided by distribution partners and other third parties. Instrument service contracts are sold with contract terms ranging from 12-36 months and cover periods after the end of the initial 12-month warranty. These contracts include services to maintain performance within the Company’s designed specifications and allow the customer to receive certain preventative maintenance service procedures during the contract term. Revenue from services to maintain designed specifications is considered a stand-ready obligation and recognized evenly over the contract term and service revenue related to preventative maintenance of instruments is recognized when the procedure is completed. Revenue from service fees for assay processing is recognized upon the rendering of the related performance obligation which is typically the delivery of data and analysis of the samples that have been processed. For arrangements with multiple performance obligations, the Company allocates the contract price in proportion to its relative stand-alone selling price. The Company bundles most systems and consumables so uses its best estimate of selling price for its products based on historical sales and adjusted for similar products, geographies, and differences in customers. For service, the best estimate of selling price is based on historical stand-alone sales, as stand-alone sales on services are more readily available. The Company reviews its stand-alone prices at least annually or more frequently if facts and circumstances significantly change. The Company generally recognizes expense related to the acquisition of contracts, such as sales commissions, at the time of revenue recognition, which is generally in the same period products are sold, and in the case of services, revenue is recognized as services are rendered or over the period of time covered by the service contract. The Company records commission expenses within selling, general and administrative expenses. Product and service revenues from sales to customers through distributors are recognized consistent with the policies and practices for direct sales to customers, as described above.
Cost of Revenue	Cost of product and service revenue consists primarily of costs incurred in the production process, including costs of purchasing instruments from third-party contract manufacturers, consumable component materials and assembly labor and overhead, installation, warranty, service and packaging and delivery costs. In addition, cost of product and service revenue includes royalty costs for licensed technologies included in the Company’s products, provisions for slow-moving and obsolete inventory and stock-based compensation expense. Cost of product and service revenue for instruments and consumables is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product and service revenue in the consolidated statements of operations.
Reserve for Product Warranties	The Company generally provides a one-year warranty on both its nCounter Analysis Systems and GeoMx DSP systems, and establishes a reserve for future warranty costs based on historical product failure rates and actual warranty costs incurred. Warranty expense is recorded as a component of cost of product and service revenue in the consolidated statements of operations. Warranty reserves were $1.0 million and $0.7 million as of December 31, 2020 and 2019, respectively.
Research and Development	Research and development expenses, consisting primarily of salaries and benefits, stock-based compensation expense, occupancy costs, laboratory supplies, contracted services, consulting fees, software development and related costs, are expensed as incurred.
Selling, General and Administrative	Selling expenses consist primarily of personnel related costs for sales and marketing, contracted services and service fees and are expensed as the related costs are incurred. Advertising costs are expensed as incurred and are included in sales and marketing expenses.General and administrative expenses consist primarily of personnel related costs for the Company’s finance, human resources, business development, legal, information technology and general management, as well as professional fees for legal, accounting and other consulting services. General and administrative expenses are expensed as they are incurred.
Income Taxes	The Company accounts for income taxes under the liability method. Under the liability method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. The Company determines whether a tax position is more likely than not to be sustained upon examination based on the technical merits of the position. For tax positions meeting the more-likely-than-not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority.
Stock-Based Compensation	The Company accounts for stock-based compensation under the fair value method. Stock-based compensation costs related to stock options and restricted stock units (“RSUs”) which are granted by the Company are calculated using the grant-date fair value, estimated using the Black-Scholes option pricing model for stock options and the intrinsic method for RSUs. Stock-based compensation expense is recognized based on the number of awards ultimately expected to vest, using actual forfeitures when incurred. The Company uses the straight-line attribution method over the vesting period for recognizing compensation expense for awards with a service condition. For awards with service and performance conditions, the accelerated recognition method is used over the graded vesting schedules for the awards.
Guarantees and Indemnifications	In the normal course of business, the Company guarantees and/or indemnifies other parties, including vendors, lessors and parties to transactions with the Company, with respect to certain matters. The Company has agreed to hold the other parties harmless against losses arising from breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. It is not possible to determine the maximum potential amount the Company could be required to pay under these indemnification agreements, since the Company has not had any prior indemnification claims, and each claim would be based upon the unique facts and circumstances of the claim and the particular provisions of each agreement. In the opinion of management, any such claims would not be expected to have a material adverse effect on the Company’s consolidated results of operations, financial condition or cash flows. The Company did not have any related liabilities recorded at December 31, 2020 and 2019.
Comprehensive Loss	Comprehensive loss includes certain changes in equity that are excluded from net loss. Specifically, unrealized gains and losses on available-for-sale debt securities are included in comprehensive (income) loss.
Recently Adopted Accounting Pronouncement and Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued “ASU 2016-13, Financial Instruments: Credit Losses.” The standard requires disclosure regarding expected credit losses on financial instruments at each reporting date, and changes how other than temporary impairments on investment securities are recorded. The Company adopted the ASU on January 1, 2020 using the modified retrospective transition approach and the adoption did not have a material impact on its consolidated results of operations, financial condition, cash flows and financial statement disclosures for the year ended December 31, 2020. In August 2018, the FASB issued “ASU 2018-15, Intangibles — Goodwill and other — Internal-use software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted the standard, on a prospective basis, on January 1, 2020. Historically, the Company has had a practice of expensing the implementation costs related to cloud computing arrangements. Upon adoption of the standard, the Company may capitalize certain implementation costs for new cloud computing arrangements in other assets, and amortize the costs over the related service contract period for the hosted arrangement. The amortization of the implementation costs and the related service contract costs will be presented in its results of operations. The adoption did not have a material impact to the consolidated results of operations, financial condition, cash flows, and financial statement disclosures for the year ended December 31, 2020. In November 2018, the FASB issued “ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606.” The new guidance clarifies when certain transactions between collaborative arrangement participants which should be accounted for as revenue under Topic 606. The Company adopted the standard on January 1, 2020. The Company has assessed its collaborative arrangements and concluded no adjustment is necessary, based on guidance in the standard. In December 2019, the FASB issued “ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” The new guidance simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company adopted this ASU effective January 1, 2020 and, as a result, was able to determine the effect of income or loss from continuing operations using a computation that does not consider the tax effects of items that are not included in continuing operations. As such, for the year ended December 31, 2020, the Company did not record a tax expense or benefit in its net loss from operations related to deferred tax assets and liabilities associated with its Convertible Notes. See to Note 10. Long-term Debt, Net for additional information. Recent Accounting Pronouncements In August 2020, the FASB issued “ASU 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40).” The new guidance simplifies the number of accounting models for convertible instruments; and as a result, under the remaining available models, removes the requirement to separately account for conversion features between liability and equity components. The ASU will become effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, with adoption as of the beginning of
Fair Value Measurement	The Company establishes the fair value of its assets and liabilities using the price that would be received to sell an asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is used to measure fair value. The three levels of the fair value hierarchy are as follows: • Level 1 — Quoted prices in active markets for identical assets and liabilities. • Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Net Loss Per Share	Net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding. Certain common stock participating securities, such as outstanding stock options, restricted stock units, and common stock warrants have not been included in the calculation of diluted net loss per share because to do so would be anti-dilutive. Accordingly, the numerator and the denominator used in computing both basic and diluted net loss per share for each period are the same.
Foreign Currency Transactions and Translations Policy	The functional currency of our foreign subsidiaries is the U.S. dollar. Accordingly, monetary balance sheet accounts are remeasured using exchange rates in effect at the balance sheet dates and non-monetary items are remeasured at historical exchange rates. Expenses are generally remeasured at the average exchange rates for the period.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides information about disaggregated revenue by major product line and primary geographic market (in thousands): Year Ended December 31, 2020 Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 30,016 $ 11,134 $ 6,680 $ 47,830 Consumables 34,922 12,203 2,972 50,097 Total product revenue 64,938 23,337 9,652 97,927 Service revenue 8,977 3,560 980 13,517 Total product and service revenue 73,915 26,897 10,632 111,444 Collaboration revenue 5,872 — — 5,872 Total revenue $ 79,787 $ 26,897 $ 10,632 $ 117,316 Year Ended December 31, 2019 Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 18,578 $ 8,083 $ 4,413 $ 31,074 Consumables 37,983 19,085 3,936 61,004 Total product revenue 56,561 27,168 8,349 92,078 Service revenue 7,724 3,121 791 11,636 Total product and service revenue 64,285 30,289 9,140 103,714 Collaboration revenue 21,854 — — 21,854 Total revenue $ 86,139 $ 30,289 $ 9,140 $ 125,568 Year Ended December 31, 2018 Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 12,033 $ 6,677 $ 2,731 $ 21,441 Consumables 32,667 16,941 3,684 53,292 Total product revenue 44,700 23,618 6,415 74,733 Service revenue 6,228 2,097 465 8,790 Total product and service revenue 50,928 25,715 6,880 83,523 Collaboration revenue 23,209 — — 23,209 Total revenue $ 74,137 $ 25,715 $ 6,880 $ 106,732

Short-term Investments (Tables)

Short-term Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Short-Term Investments Available-for-Sale Securities	Short-term investments consisted of available-for-sale and equity securities as follows (in thousands): Type of securities as of December 31, 2020 Amortized cost Gross Gross Fair value Corporate debt securities $ 22,338 $ 71 $ — $ 22,409 U.S. government-related debt securities 5,000 3 — 5,003 Asset-backed securities 1,462 9 — 1,471 Total available-for-sale debt securities $ 28,800 $ 83 $ — $ 28,883 Type of securities as of December 31, 2019 Amortized cost Gross Gross Fair value Corporate debt securities $ 78,243 $ 89 $ (2) $ 78,330 U.S. government-related debt securities 26,966 37 — 27,003 Asset-backed securities 11,950 21 — 11,971 Total available-for-sale debt securities 117,159 147 (2) 117,304 Corporate equity securities 9,893 625 — 10,518 Total short-term investment securities $ 127,052 $ 772 $ (2) $ 127,822
Fair Values of Available-for-Sale Securities by Contractual Maturity	The fair values of available-for-sale debt securities by contractual maturity at December 31 were as follows (in thousands): 2020 2019 Maturing in one year or less $ 28,883 $ 101,751 Maturing in one to three years — 15,553 Total available-for-sale debt securities 28,883 117,304

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Company's Available-for-Sale Securities by Level within Fair Value Hierarchy	The Company’s investments by level within the fair value hierarchy were as follows (in thousands): Type of securities as of December 31, 2020 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 400,757 $ — $ — $ 400,757 Short-term investments: Corporate debt securities — 22,409 — 22,409 U.S. government-related debt securities — 5,003 — 5,003 Asset-backed securities — 1,471 — 1,471 Total $ 400,757 $ 28,883 $ — $ 429,640 Type of securities as of December 31, 2019 Fair value measurement using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 22,152 $ — $ — $ 22,152 Short-term investments: Corporate debt securities — 78,330 — 78,330 U.S. government-related debt securities — 27,003 — 27,003 Asset-backed securities — 11,971 — 11,971 Corporate equity securities 10,518 — — 10,518 Total $ 32,670 $ 117,304 $ — $ 149,974

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]	The following table provides the components of the Company’s lease cost (in thousands): 2020 2019 Operating lease cost $ 5,354 $ 6,004 Finance lease cost: Amortization of right-of-use assets 138 — Interest on lease liabilities 16 — Total lease cost $ 5,508 $ 6,004 Other information related to leases for the year ended December 31 were as follows (in thousands): 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,160 $ 5,579 Operating cash flows from finance leases 138 — Financing cash flows from finance leases 135 — Weighted average remaining lease term (years) - operating leases 5.8 6.7 Weighted average remaining lease term (years) - financing leases 2.4 N/A Weighted average discount rate - operating leases 7.1 % 7.1 % Weighted average discount rate - financing leases 4.8 % N/A
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum lease payments under the lease agreements as of December 31, 2020 were as follows (in thousands): Finance Operating 2021 $ 196 $ 6,266 2022 196 6,327 2023 67 6,506 2024 16 6,690 2025 — 6,880 Thereafter — 4,107 Total future minimum lease payments 475 36,776 Less: imputed interest (28) (6,860) Total $ 447 $ 29,916

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following at December 31 (in thousands): 2020 2019 Raw materials $ 4,286 $ 4,620 Work in process 5,981 4,617 Finished goods 12,692 10,544 Total inventory, net $ 22,959 $ 19,781

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following at December 31 (in thousands): Useful Life 2020 2019 Manufacturing equipment 5 $ 15,311 $ 12,292 Prototype instruments 2 2,128 2,202 Computer equipment 3 3,860 2,779 Furniture and fixtures 5 1,990 1,565 Leasehold improvements Various 19,347 12,005 Construction in progress 1,233 7,592 Total property and equipment, gross 43,869 38,435 Less: Accumulated depreciation and amortization (23,041) (18,251) Total property and equipment, net $ 20,828 $ 20,184

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term debt and lease financing obligations	The outstanding balances of the Company’s Convertible Notes and previously outstanding term loan consisted of the following at December 31 (in thousands): 2020 2019 Outstanding principal of Convertible Note $ 230,000 $ — Borrowings under term loan agreement — 80,000 Paid-in-kind interest on term loan agreement — 2,593 Less: unamortized debt discounts and issuance costs (57,297) (2,642) Long-term debt, net $ 172,703 $ 79,951
Schedule of Interest Expense	The following table sets forth total interest expense recognized related to the Convertible Notes (in thousands): For the Year Ending December 31, 2020 Contractual interest expense $ 4,897 Amortization of debt discount and issuance costs 8,650 Total interest expense $ 13,547

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Option Activity and Related Information	A summary of the Company’s stock option activity under the Plans is as follows: Shares Weighted- Weighted- Aggregate Outstanding at January 1, 2020 4,192,122 $ 14.42 6.47 $ 56,218 Granted 91,052 26.06 Canceled and forfeited (169,049) 16.55 Exercised (1,483,602) 12.64 Outstanding at December 31, 2020 2,630,523 $ 15.68 5.84 $ 134,670 December 31, 2020: Options vested and expected to vest 2,630,523 $ 15.68 5.84 $ 134,670 Options exercisable 1,901,861 $ 14.13 5.02 $ 34,348
Company's Options Outstanding	The following table summarizes information about the Company’s stock options outstanding at December 31, 2020: Outstanding Exercisable Exercise Price Number of Weighted- Number of Weighted- $1.92 – $12.56 686,488 4.81 527,069 4.12 $12.77 – $14.99 584,628 4.74 563,444 4.64 $15.21 – $18.55 344,177 4.41 297,704 3.99 $18.68 – $22.71 393,152 6.55 302,418 6.04 $23.00 – $29.13 622,078 8.33 211,226 8.28 2,630,523 1,901,861
Restricted Stock Units Award Activity	A summary of RSU activity under the Plans is as follows: Non-vested RSUs Share Equivalent Weighted-Average Grant Date Fair Value Non-vested at January 1, 2020 1,435,774 $ 18.69 Changes during the year: Granted 824,827 29.15 Vested (455,278) 15.29 Forfeited (200,601) 21.98 Non-vested at December 31, 2020 1,604,722 $ 24.61
Stock Compensation Expense	The following table sets forth stock-based compensation expense related to stock-based arrangements under the Plans as presented within the consolidated statement of operations for the years ended December 31 as follows (in thousands): 2020 2019 2018 Cost of revenue $ 983 $ 786 $ 616 Research and development 3,864 4,100 3,156 Selling, general and administrative 13,643 11,726 6,982 Total stock-based compensation expense $ 18,490 $ 16,612 $ 10,754
Fair Value of Employee Option Grant	The fair value of each employee stock option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: 2020 2019 2018 Risk-free interest rates 0.54% — 1.69% 1.41% — 2.56% 2.22% — 3.01% Expected term (years) 6.08 5.12 — 6.08 5.50 — 6.09 Expected dividend yield —% —% —% Expected volatility 53.0% — 59.6% 52.6% — 58.0% 56.0% — 57.7%

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Loss Before Income Taxes	Loss before income taxes for the years ended December 31 consisted of the following (in thousands): 2020 2019 2018 Domestic $ (111,101) $ (41,720) $ (78,124) Foreign 1,276 1,293 973 Loss before income taxes $ (109,825) $ (40,427) $ (77,151)
Significant Components of our Provision for Income Taxes	Significant components of our provision for income taxes for the years ended December 31 are as follows (in thousands): 2020 2019 2018 Current: Domestic $ — $ — $ — Foreign 253 269 249 Total provision for income taxes $ 253 $ 269 $ 249
Income Tax Expense (Benefit) Differed from Amounts Computed by Applying Statutory Federal Income Tax Rate	A reconciliation of the federal statutory income tax rate to the effective income tax rate for the years ended December 31 are as follows (in thousands): 2020 2019 2018 Income tax provision at federal statutory rate $ (23,063) $ (8,490) $ (16,202) Tax on repatriated foreign earnings and other nondeductible items 348 403 195 Section 162(m) limitations 5,044 1,438 — Change in tax credits 3,123 (3,738) (2,148) Change in valuation allowance 21,707 17,842 19,935 Changes in federal and state tax rates 586 (4,058) — Stock option exercise (windfall) shortfall (7,683) (1,763) 257 Adjustments to deferred stock compensation 3,060 — — State and Foreign tax, and other (2,869) (1,365) (1,788) Total provision for income taxes $ 253 $ 269 $ 249
Effect of Temporary Differences and Carryforwards	The effect of temporary differences and carryforwards that give rise to deferred tax assets and liabilities for the years ended December 31 were as follows (in thousands): 2020 2019 Deferred tax assets: Net operating loss carryforwards $ 100,927 $ 73,310 Research and development tax credit carryforwards 9,513 12,636 Operating lease liability 6,962 7,653 Stock-based compensation 5,161 9,680 Foreign tax credit carryforwards 648 633 Accruals and other 8,138 8,219 Total deferred tax assets before allowance 131,349 112,131 Less: Valuation allowance (114,275) (106,438) Deferred tax assets, net 17,074 5,693 Deferred tax liabilities: Debt discount (equity component) 12,045 — Right of use asset 5,029 5,693 Deferred tax liability 17,074 5,693 Net deferred tax assets and liabilities $ — $ —
Summary of Changes in Deferred Tax Asset Valuation Allowance	The table below summarizes changes in the deferred tax asset valuation allowance for the years ended December 31 (in thousands): 2020 2019 2018 Balance at beginning of year $ 106,438 $ 88,596 $ 68,661 Charged to costs and expenses 8,423 13,784 19,935 Impact of change in tax rate (586) 4,058 — Balance at end of year $ 114,275 $ 106,438 $ 88,596
Total Balance of Unrecognized Gross Tax Benefits Resulting from R&D Credits Claimed	The total balance of unrecognized gross tax benefits for the years ended December 31, resulting from research and development tax credits claimed on the Company’s annual tax return was as follows (in thousands): 2020 2019 2018 Unrecognized tax benefits at beginning of year $ 4,212 $ 2,830 $ 2,168 Additions based on current year tax positions 4,959 1,382 662 Unrecognized tax benefits at end of year $ 9,171 $ 4,212 $ 2,830

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Summary of Shares Excluded from Computation of Diluted Net Loss Per Share	The following common stock participating securities as of December 31 were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive (in thousands): 2020 2019 2018 Options to purchase common stock 3,379 4,610 5,395 Restricted stock units 1,574 1,681 1,147 Common stock warrants 508 1,116 535

Description of the Business Nar

Description of the Business Narrative (Details)	12 Months Ended
	Dec. 31, 2020platform
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of platforms	2

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020
Significant Accounting Policies [Line Items]
Inventory reserves	$ 5,000,000	$ 4,100,000
Impairment of intangible assets, finite lived	$ 0		$ 0
Amortization period	5 years
Warranty reserve	$ 1,000,000	700,000
Advertising costs	3,400,000	5,700,000	$ 4,800,000
Guarantees and indemnifications liabilities	$ 0	$ 0
Product warranty accrual period	1 year
Standard warranty period	12 months
Convertible Senior Notes Due 2025 | Senior Notes
Significant Accounting Policies [Line Items]
Debt stated rate	2.625%			2.625%
Manufacturing equipment
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	5 years
Prototype Systems
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	2 years
Computer equipment
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Furniture and fixtures
Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	5 years
Minimum
Significant Accounting Policies [Line Items]
Extended warranty period	12 months
Maximum
Significant Accounting Policies [Line Items]
Extended warranty period	36 months
Sales Revenue, Net | Customer Concentration Risk | Lam Research Corporation
Significant Accounting Policies [Line Items]
Concentration Risk, Percentage	4.00%	13.00%	17.00%
Accounts Receivable [Member] | Customer Concentration Risk
Significant Accounting Policies [Line Items]
Concentration Risk, Percentage	0.00%	0.00%
Veracyte
Significant Accounting Policies [Line Items]
Impairment of long-lived assets		$ 1,100,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 117,316,000	$ 125,568,000	$ 106,732,000
Customer deposits	1,631,000	6,389,000
Contract Liabilities	7,000,000	5,000,000
Performance obligation satisfied in previous period	14,900,000
Cash payments received from customers	4,758,000	1,778,000	778,000
Contract assets	0
Remaining performance obligation	$ 8,600,000
Revenue, Performance Obligation, Description of Payment Terms	45 days
Proceeds from Customers	$ 12,200,000
United States
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	77,500,000	$ 83,900,000	$ 71,200,000
Calculated under Revenue Guidance in Effect before Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract Liabilities	$ (2,700,000)

Revenue from Contracts with C_4

Revenue from Contracts with Customers Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 117,316	$ 125,568	$ 106,732
Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	47,830	31,074	21,441
Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	50,097	61,004	53,292
Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	97,927	92,078	74,733
Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	13,517	11,636	8,790
Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	111,444	103,714	83,523
Collaboration
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	5,872	21,854	23,209
Americas
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	79,787	86,139	74,137
Americas | Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	30,016	18,578	12,033
Americas | Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	34,922	37,983	32,667
Americas | Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	64,938	56,561	44,700
Americas | Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	8,977	7,724	6,228
Americas | Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	73,915	64,285	50,928
Americas | Collaboration
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	5,872	21,854	23,209
Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	10,632	9,140	6,880
Asia Pacific | Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	6,680	4,413	2,731
Asia Pacific | Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	2,972	3,936	3,684
Asia Pacific | Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	9,652	8,349	6,415
Asia Pacific | Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	980	791	465
Asia Pacific | Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	10,632	9,140	6,880
Asia Pacific | Collaboration
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	0	0	0
Europe and Middle East
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	26,897	30,289	25,715
Europe and Middle East | Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	11,134	8,083	6,677
Europe and Middle East | Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	12,203	19,085	16,941
Europe and Middle East | Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	23,337	27,168	23,618
Europe and Middle East | Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	3,560	3,121	2,097
Europe and Middle East | Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	26,897	30,289	25,715
Europe and Middle East | Collaboration
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 0	$ 0	$ 0

Short-term Investments - Availa

Short-term Investments - Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 117,159	$ 28,800
Gross unrealized gains	147	83
Gross unrealized losses	(2)	0
Fair value	117,304	28,883
Debt securities and equity securities, amortized cost	127,052
Debt and equity securities, unrealized gains	772
Debt securities and equity securities, unrealized losses	(2)
Debt and equity securities, fair value	127,822	28,883
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	78,243	22,338
Gross unrealized gains	89	71
Gross unrealized losses	(2)	0
Fair value	78,330	22,409
U.S. government-related debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	26,966	5,000
Gross unrealized gains	37	3
Gross unrealized losses	0	0
Fair value	27,003	5,003
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	11,950	1,462
Gross unrealized gains	21	9
Gross unrealized losses	0	0
Fair value	11,971	$ 1,471
Corporate equity securities
Debt Securities, Available-for-sale [Line Items]
Equity securities, amortized cost	9,893
Equity securities, unrealized gain	625
Equity securities, gross unrealized losses	0
Equity securities, fair value	$ 10,518

Short-term Investments - Fair V

Short-term Investments - Fair Values of Available-for-Sale Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 28,883	$ 101,751
Maturing in one to three years	0	15,553
Total available-for-sale debt securities	$ 28,883	$ 117,304

Fair Value Measurements - Compa

Fair Value Measurements - Company's Available-for-Sale Securities by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 429,640	$ 149,974
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	22,409	78,330
U.S. government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	5,003	27,003
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	1,471	11,971
Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value		10,518
Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	400,757	22,152
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	400,757	32,670
Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | U.S. government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 1 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	0	0
Level 1 | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value		10,518
Level 1 | Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	400,757	22,152
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	28,883	117,304
Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	22,409	78,330
Level 2 | U.S. government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	5,003	27,003
Level 2 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	1,471	11,971
Level 2 | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value		0
Level 2 | Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Level 3 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | U.S. government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Level 3 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	0	0
Level 3 | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value		0
Level 3 | Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2020	Dec. 31, 2020
Convertible Senior Notes Due 2025
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Debt instrument, fair value		$ 355.4
Convertible Senior Notes Due 2025 | Senior Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Debt instrument, face amount	$ 230
Term Loan Agreement
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Repayments of debt	$ 88.6

Sale of Business to Veracyte (D

Sale of Business to Veracyte (Details) - USD ($) $ in Thousands	Feb. 27, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Gain on sale of business, net			$ 0	$ 48,871	$ 0
Veracyte
Business Acquisition [Line Items]
Gain on sale of business, net				48,900
Veracyte
Business Acquisition [Line Items]
Consideration transferred		$ 50,000
Cash paid		$ 40,000
Shares transferred		376,732
Value of shares transferred		10.0 million
Milestone payments	$ 10,000
Transaction costs		$ 1,100		$ 1,100

Leases - (Details)

Leases - (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²Lease	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Leases [Abstract]
Number of operating leases | Lease	4
Area under lease | ft²	134,296
Operating lease cost	$ 5,354	$ 6,004
Amortization of right-of-use assets	138	0
Interest on lease liabilities	16	0
Total lease cost	$ 5,508	$ 6,004
Rent expense			$ 4,900

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating cash flows from operating leases	$ 3,160	$ 5,579
Operating cash flows from finance leases	138	0
Financing cash flows from finance leases	$ 135	$ 0	$ 0
Weighted average remaining lease term (years) - operating leases	5 years 9 months 18 days	6 years 8 months 12 days
Weighted average remaining lease term (years) - financing leases	2 years 4 months 24 days
Weighted average discount rate - operating leases	7.10%	7.10%
Weighted average discount rate - financing leases	4.80%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Finance Lease, Liability, Payment, Due [Abstract]
2021	$ 196
2022	196
2023	67
2024	16
2025	0
Thereafter	0
Total future minimum lease payments	475
Less: imputed interest	(28)
Total	447
Operating Lease, Liability [Abstract]
2021	6,266
2022	6,327
2023	6,506
2024	6,690
2025	6,880
Thereafter	4,107
Total future minimum lease payments	36,776
Less: imputed interest	(6,860)
Total	$ 29,916

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 4,286	$ 4,620
Work in process	5,981	4,617
Finished goods	12,692	10,544
Inventory, net	$ 22,959	$ 19,781

Property and Equipment - (Detai

Property and Equipment - (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 43,869	$ 38,435
Less: Accumulated depreciation and amortization	(23,041)	(18,251)
Total property and equipment, net	$ 20,828	20,184
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
Property and equipment, gross	$ 15,311	12,292
Prototype instruments
Property, Plant and Equipment [Line Items]
Useful Life (Years)	2 years
Property and equipment, gross	$ 2,128	2,202
Computer equipment
Property, Plant and Equipment [Line Items]
Useful Life (Years)	3 years
Property and equipment, gross	$ 3,860	2,779
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful Life (Years)	5 years
Property and equipment, gross	$ 1,990	1,565
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	19,347	12,005
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,233	$ 7,592

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 5.7	$ 4.9	$ 4

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details)	1 Months Ended		3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Oct. 31, 2018USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)day$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)	Jun. 30, 2019shares	Nov. 30, 2018USD ($)	Jan. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Common stock, par value (in dollars per share) | $ / shares				$ 0.0001	$ 0.0001
Equity component of convertible notes, net			$ 58,543,000
Share price | $ / shares				$ 66.88
Debt instrument, convertible, if-converted value in excess of principal				$ 91,700,000
Interest expense				15,400,000
Interest expense				15,408,000	$ 8,487,000	$ 7,431,000
Term Loan Agreement
Line of Credit Facility [Line Items]
Repayments of debt	$ 88,600,000
Line of credit facility, maximum borrowing capacity		$ 100,000,000
Percentage of accrue interest		10.50%
Percentage of deferred payment		3.00%
Upfront debt fee, percentage		0.50%
Percentage payment up on repayment of principal amount		2.00%
Proceeds from lines of credit				80,000,000
Warrants issued with debt | shares		341,578					128,932
Exercise price of warrants (in dollars per share) | $ / shares		$ 21.12			$ 34.20
Interest expense					$ 8,500,000	$ 7,400,000
Write off of deferred debt issuance cost				6,600,000
Secured Revolving Loan Facility
Line of Credit Facility [Line Items]
Extinguishment of debt, termination fee				500,000
Convertible Senior Notes Due 2025
Line of Credit Facility [Line Items]
Convertible debt, fair value				$ 169,500,000
Debt conversion, original debt interest rate				9.35%
Debt unamortized discount				$ 60,500,000
Debt issuance costs, net				7,400,000
Equity component of convertible notes, net				58,500,000
Equity component				1,900,000
Liability component				$ 5,500,000
Debt term				5 years
Convertible Senior Notes Due 2025 | Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, face amount	$ 230,000,000
Debt stated rate	2.625%			2.625%
Proceeds from issuance of debt	$ 222,600,000
Debt instrument conversion ratio				20.9161
Common stock, par value (in dollars per share) | $ / shares				$ 0.0001
Conversion price (in dollars per share) | $ / shares				$ 47.81
Threshold consecutive trading days | day				30
Percentage of redemption fee				100.00%
Convertible Senior Notes Due 2025 | Senior Notes | Convertible Debt Triggering Event 1
Line of Credit Facility [Line Items]
Threshold trading days | day				20
Threshold consecutive trading days | day				30
Percentage of stock price trigger				130.00%
Convertible Senior Notes Due 2025 | Senior Notes | Convertible Debt Triggering Event 2
Line of Credit Facility [Line Items]
Threshold trading days | day				5
Threshold consecutive trading days | day				5
Percentage of stock price trigger				98.00%
Revolving Credit Facility | Secured Revolving Loan Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity								$ 20,000,000	$ 15,000,000
Credit facility, outstanding				$ 0
Debt Instrument, Redemption, Period One | Term Loan Agreement
Line of Credit Facility [Line Items]
Current borrowing capacity			$ 20,000,000

Long-Term Debt - Long-term debt

Long-Term Debt - Long-term debt and lease financing obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$ 57,297	$ 2,642
Long-term debt, net	172,703	79,951
Term Loan Agreement
Debt Instrument [Line Items]
Borrowings Under Term Loan Agreements	0	80,000
Paid-in-Kind Interest	0	2,593
Convertible Senior Notes Due 2025
Debt Instrument [Line Items]
Outstanding Principal Of Convertible Debt	$ 230,000	$ 0

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense (Details) - Convertible Senior Notes Due 2025 $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Contractual interest expense	$ 4,897
Amortization of debt discount and issuance costs	8,650
Total interest expense	$ 13,547

Collaboration Agreements - Addi

Collaboration Agreements - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Jan. 31, 2020shares	Aug. 31, 2017USD ($)employee	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration				$ 117,316	$ 125,568	$ 106,732
Exercise Price Of Common Stock Warrants | $ / shares				$ 24.70
Celgene Corporation | Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Collaborators			$ 1,100			600
Collaboration					4,400	2,600
Merck Sharp & Dohme Corp. | Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration						1,600
Merck Sharp & Dohme Corp. | Collaborative Arrangement | Development Funding
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Collaborators						1,100
Lam Research Corporation | Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Collaborators					14,900	21,700
Collaboration				$ 4,800	$ 16,300	$ 18,600
Maximum Amount Of Royalties Payable, Ratio To License And Service Revenue		3
Reimbursement Of Counterparty Costs, Maximum Number Of Employees | employee		10
Class Of Warrant Or Right, Number Of Warrants Or Rights Exercised | shares	1,000,000
Lam Research Corporation | Collaborative Arrangement | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration		$ 50,000
Class of Warrant or Right, Outstanding | shares	407,247

Common Stock and Preferred St_2

Common Stock and Preferred Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended				12 Months Ended
	Oct. 31, 2020USD ($)shares	Mar. 31, 2019USD ($)shares	Jul. 31, 2018USD ($)shares	Jan. 31, 2018USD ($)shares	Dec. 31, 2020USD ($)Vote$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)
Subsidiary, Sale of Stock [Line Items]
Proceeds from sale of common stock, net | $					$ 215,765	$ 68,273	$ 53,829
Preferred stock, shares issued (in shares)					0	0
Each share of common stock is entitled to vote | Vote					1
Preferred stock, shares authorized (in shares)					15,000,000	15,000,000
Preferred stock warrants were converted into warrants to purchase common stock (in shares)					470,510
Exercise price of common stock warrants (in dollars per share) | $ / shares					$ 24.70
Overallotment option
Subsidiary, Sale of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	750,000	675,000	600,000
Selling Stockholder
Subsidiary, Sale of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		2,000,000
At the market equity offering
Subsidiary, Sale of Stock [Line Items]
Proceeds from sale of common stock, net | $				$ 40,000
Sale of Stock, Number of Shares Issued in Transaction				0
Public Stock Offering
Subsidiary, Sale of Stock [Line Items]
Proceeds from underwritten public offering after fees and commissions | $	$ 215,800	$ 68,300	$ 53,800
Sale of Stock, Number of Shares Issued in Transaction		3,175,000	4,600,000
Sale Of Stock, Gross Consideration Received On Transaction | $		$ 73,000	$ 57,500
IPO
Subsidiary, Sale of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	5,750,000
Sale Of Stock, Gross Consideration Received On Transaction | $	$ 230,000

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Jul. 31, 2013	Dec. 31, 2020USD ($)employee$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value per share (in dollars per share) | $ / shares		$ 18.89	$ 12.99	$ 4.78
Aggregate intrinsic value for options exercised		$ 80,600,000	$ 19,900,000	$ 2,200,000
Fair value of options vested		14,500,000	6,300,000	6,800,000
Tax benefit recognized related to share-based compensation cost		0
Total share-based compensation expense		19,374,000	17,458,000	11,475,000
Share-based Payment Arrangement, Plan Modification, Incremental Cost		$ 4,700,000
Share-based Payment Arrangement, Plan Modification, Number of Grantees Affected | employee		10
2004 Stock Option Plan and 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under the Plans (in shares) | shares		11,835,327
Stock options grant period, years		10 years
Stock options vesting period and exercisable period, years		4 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total value of shares vested		$ 12,500,000	$ 17,600,000	$ 1,000,000
Shares vested (in shares) | shares		455,278
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Length of offering period, in months	12 months
Length of purchase periods, in months	6 months
Purchase price percentage of fair market value of shares	85.00%
Shares issued (in shares) | shares		89,477	203,464	257,132
Total share-based compensation expense		$ 900,000	$ 800,000	$ 700,000
Common stock reserved for issuance (in shares) | shares		1,642,147
Share available for grant (in shares) | shares		536,443
ESPP | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contribution percentage of purchase shares on participants eligible compensation	0.00%
ESPP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contribution percentage of purchase shares on participants eligible compensation	10.00%
Service component
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 26,200,000
Unrecognized compensation cost, weighted-average recognized period		2 years 25 days
Service and Performance components
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 7,100,000
Unrecognized compensation cost, weighted-average recognized period		1 year 8 months 1 day

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Option Activity and Related Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at December 31, 2015 (in shares)	4,192,122
Granted (in shares)	91,052
Canceled and forfeited (in shares)	(169,049)
Exercised (in shares)	(1,483,602)
Outstanding at December 31, 2016 (in shares)	2,630,523	4,192,122
Options vested and expected to vest at December 31, 2016 (in shares)	2,630,523
Options exercisable at December 31, 2016 (in shares)	1,901,861
Weighted- average exercise price per share
Outstanding at December 31, 2015 (in dollars per share)	$ 14.42
Granted (in dollars per share)	26.06
Canceled and forfeited (in dollars per share)	16.55
Exercised (in dollars per share)	12.64
Outstanding at December 31, 2016 (in dollars per share)	15.68	$ 14.42
Options vested and expected to vest at December 31, 2016 (in dollars per share)	15.68
Options exercisable at December 31, 2016 (in dollars per share)	$ 14.13
Weighted- average remaining contractual term (in years)
Outstanding	5 years 10 months 2 days	6 years 5 months 19 days
Options vested and expected to vest as December 31, 2016	5 years 10 months 2 days
Options exercisable at December 31, 2016	5 years 7 days
Aggregate intrinsic value (in thousands)
Outstanding	$ 134,670	$ 56,218
Options vested and expected to vest at December 31, 2016	134,670
Options exercisable at December 31, 2016	$ 34,348

Stock-based Compensation - Comp

Stock-based Compensation - Company's Options Outstanding (Detail)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares (in shares)	2,630,523
Options Exercisable - Number of Shares (in shares)	1,901,861
$1.92 – $12.56
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares (in shares)	686,488
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	4 years 9 months 21 days
Options Exercisable - Number of Shares (in shares)	527,069
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	4 years 1 month 13 days
$1.92 – $12.56 | Minimum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 1.92
$1.92 – $12.56 | Maximum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 12.56
$12.77 – $14.99
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares (in shares)	584,628
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	4 years 8 months 26 days
Options Exercisable - Number of Shares (in shares)	563,444
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	4 years 7 months 20 days
$12.77 – $14.99 | Minimum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 12.77
$12.77 – $14.99 | Maximum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 14.99
$15.21 – $18.55
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares (in shares)	344,177
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	4 years 4 months 28 days
Options Exercisable - Number of Shares (in shares)	297,704
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	3 years 11 months 26 days
$15.21 – $18.55 | Minimum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 15.21
$15.21 – $18.55 | Maximum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 18.55
$18.68 – $22.71
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares (in shares)	393,152
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	6 years 6 months 18 days
Options Exercisable - Number of Shares (in shares)	302,418
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	6 years 14 days
$18.68 – $22.71 | Minimum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 18.68
$18.68 – $22.71 | Maximum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 22.71
$23.00 – $29.13
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding - Number of Shares (in shares)	622,078
Options Outstanding -Weighted- Average Remaining Contractual Life in Years	8 years 3 months 29 days
Options Exercisable - Number of Shares (in shares)	211,226
Options Exercisable - Weighted- Average Remaining Contractual Life in Years	8 years 3 months 10 days
$23.00 – $29.13 | Minimum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 23
$23.00 – $29.13 | Maximum
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price, Maximum (in dollars per share) | $ / shares	$ 29.13

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Units (RSUs) Activity (Details) - Restricted stock units	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at December 31, 2015 (in shares) | shares	1,435,774
Granted (in shares) | shares	824,827
Vested (in shares) | shares	(455,278)
Forfeited (in shares) | shares	(200,601)
Non-vested at December 31, 2016 (in shares) | shares	1,604,722
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested at December 31, 2015 (in dollars per share) | $ / shares	$ 18.69
Granted (in dollars per share) | $ / shares	29.15
Vested (in dollars per share) | $ / shares	15.29
Forfeited (in dollars per share) | $ / shares	21.98
Non-vested at December 31, 2016 (in dollars per share) | $ / shares	$ 24.61

Stock-based Compensation - St_2

Stock-based Compensation - Stock Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 18,490	$ 16,612	$ 10,754
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	983	786	616
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	3,864	4,100	3,156
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 13,643	$ 11,726	$ 6,982

Stock-based Compensation - Fair

Stock-based Compensation - Fair Value of Employee Option Grant (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	53.00%	52.60%	56.00%
Risk-free interest rates	0.54%	1.41%	2.22%
Expected term (years)	6 years 29 days	5 years 1 month 13 days	5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	59.60%	58.00%	57.70%
Risk-free interest rates	1.69%	2.56%	3.01%
Expected term (years)	6 years 29 days	6 years 29 days	6 years 1 month 2 days

Defined Contribution Retireme_2

Defined Contribution Retirement Plan - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Contribution for retirement plan	$ 1.7	$ 1.5	$ 1.3

Income Taxes - Loss Before Inco

Income Taxes - Loss Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (111,101)	$ (41,720)	$ (78,124)
Foreign	1,276	1,293	973
Net loss before provision for income taxes	$ (109,825)	$ (40,427)	$ (77,151)

Income Taxes - Significant Comp

Income Taxes - Significant Components of our Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current Federal, State and Local, Tax Expense (Benefit) [Abstract]
Total provision for income taxes	$ 253	$ 269	$ 249
Changes in federal and state tax rates	586	(4,058)	0
Geographic Distribution, Domestic [Member]
Current Federal, State and Local, Tax Expense (Benefit) [Abstract]
Total provision for income taxes	0	0	0
Geographic Distribution, Foreign [Member]
Current Federal, State and Local, Tax Expense (Benefit) [Abstract]
Total provision for income taxes	$ 253	$ 269	$ 249

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes And Tax Related [Line Items]
Changes in federal and state tax rates	$ 586	$ (4,058)	$ 0
Accrued interest and penalties recorded	0	$ 0	$ 0
Federal and State
Income Taxes And Tax Related [Line Items]
Net operating loss carryforwards	553,700
Tax credit carryforwards	10,200
Federal
Income Taxes And Tax Related [Line Items]
Net operating loss carryforwards	$ 204,400

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) Differed from Amounts Computed by Applying Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax provision at federal statutory rate	$ (23,063)	$ (8,490)	$ (16,202)
Tax on repatriated foreign earnings and other nondeductible items	348	403	195
Section 162(m) limitations	5,044	1,438	0
Change in tax credits	3,123	(3,738)	(2,148)
Change in valuation allowance	21,707	17,842	19,935
Changes in federal and state tax rates	586	(4,058)	0
Stock option exercise (windfall) shortfall	(7,683)	(1,763)	257
Adjustments to deferred stock compensation	3,060	0	0
State and Foreign tax, and other	(2,869)	(1,365)	(1,788)
Total provision for income taxes	$ 253	$ 269	$ 249

Income Taxes - Effect of Tempor

Income Taxes - Effect of Temporary Differences and Carryforwards (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 100,927	$ 73,310
Research and development tax credit carryforwards	9,513	12,636
Deferred tax assets, deferred lease liability	6,962	7,653
Stock-based compensation	5,161	9,680
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	648	633
Accruals and other	8,138	8,219
Total deferred tax assets before allowance	131,349	112,131
Less: Valuation allowance	(114,275)	(106,438)	$ (88,596)	$ (68,661)
Deferred tax assets, net	17,074	5,693
DeferredTaxLiabilitiesDebtDiscount	12,045	0
Deferred Tax Liabilities, Leasing Arrangements	5,029	5,693
Deferred Tax Liabilities, Gross	17,074	5,693
Deferred Tax Assets, Net	$ 0	$ 0

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes in Deferred Tax Asset Valuation Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 106,438	$ 88,596	$ 68,661
Balance at End of Year	114,275	106,438	88,596
Valuation Allowance of Deferred Tax Assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Charged to Costs and Expenses	8,423	13,784	19,935
Write-offs	$ (586)	$ (4,058)	$ 0

Income Taxes - Total Balance of

Income Taxes - Total Balance of Unrecognized Gross Tax Benefits Resulting from R&D Credits Claimed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of year	$ 4,212	$ 2,830	$ 2,168
Additions based on current year tax positions	4,959	1,382	662
Unrecognized tax benefits at end of year	$ 9,171	$ 4,212	$ 2,830

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Dec. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Non cancellable purchase obligations	$ 21.4

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	3,379	4,610	5,395
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	1,574	1,681	1,147
Common stock warrants | Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	508	1,116	535

Uncategorized Items - nstg-2020

Label	Element	Value
Additional Paid-in Capital [Member]
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt	$ 58,543,000