NanoString (NSTG) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35980
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
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,651,417
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001401708
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 107,167	$ 411,848
Short-term investments	262,687	28,883
Accounts receivable, net	35,470	31,100
Inventory, net	31,095	22,959
Prepaid expenses and other	9,548	4,190
Total current assets	445,967	498,980
Property and equipment, net	21,158	20,828
Operating lease right-of-use assets	19,115	21,492
Other assets	7,144	2,895
Total assets	493,384	544,195
Current liabilities:
Accounts payable	11,932	5,313
Accrued liabilities	4,256	4,970
Accrued compensation and other employee benefits	15,951	15,262
Customer deposits	1,327	1,631
Deferred revenue, current portion	6,425	5,610
Operating lease liabilities, current portion	4,589	4,313
Total current liabilities	44,480	37,099
Deferred revenue, net of current portion	2,847	1,843
Long-term debt, net	224,785	172,703
Operating lease liabilities, net of current portion	22,153	25,602
Total liabilities	294,265	237,247
Commitment and contingencies (Note 11)
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; 45,639 and 44,441 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	5	4
Additional paid-in capital	819,630	848,891
Accumulated other comprehensive income (loss)	(24)	83
Accumulated deficit	(620,492)	(542,030)
Total stockholders’ equity	199,119	306,948
Total liabilities and stockholders’ equity	$ 493,384	$ 544,195

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
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, 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)	45,639,000	44,441,000
Common stock, shares outstanding (in shares)	45,639,000	44,441,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Revenue	$ 37,150	$ 31,845	$ 102,630	$ 81,054
Costs and expenses:
Cost of product and service revenue	17,154	13,962	48,258	35,691
Research and development	19,117	14,993	51,342	48,234
Selling, general and administrative	30,253	20,474	83,907	66,107
Total costs and expenses	66,524	49,429	183,507	150,032
Loss from operations	(29,374)	(17,584)	(80,877)	(68,978)
Other income (expense):
Interest income	153	333	502	1,516
Interest expense	(1,876)	(4,154)	(5,614)	(11,153)
Other income (expense), net	(223)	159	79	(1,116)
Loss on extinguishment of debt and termination of revolving loan facility	0	0	0	(7,143)
Total other expense, net	(1,946)	(3,662)	(5,033)	(17,896)
Net loss before provision for income tax	(31,320)	(21,246)	(85,910)	(86,874)
Provision for income tax	59	(71)	(83)	(200)
Net loss	$ (31,261)	$ (21,317)	$ (85,993)	$ (87,074)
Net loss per share - basic and diluted (in dollars per share)	$ (0.69)	$ (0.56)	$ (1.90)	$ (2.31)
Weighted average shares used in computing basic and diluted net loss per share (in shares)	45,558	38,081	45,170	37,624
Total product and service revenue
Revenue:
Revenue	$ 36,924	$ 30,090	$ 101,950	$ 75,730
Collaboration revenue
Revenue:
Revenue	$ 226	$ 1,755	$ 680	$ 5,324

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (31,261)	$ (21,317)	$ (85,993)	$ (87,074)
Change in unrealized gain (loss) on available-for-sale debt securities	38	(192)	(107)	100
Comprehensive loss	$ (31,223)	$ (21,509)	$ (86,100)	$ (86,974)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Deficit Statement - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	Other Comprehensive Loss	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Balance at beginning (in shares) at Dec. 31, 2019			36,298
Balance at beginning at Dec. 31, 2019	$ 104,151		$ 4	$ 535,954		$ 145	$ (431,952)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity component of convertible notes, net	58,543			58,543
Warrants issued for common stock	737			737
Common stock issued for stock options and restricted stock units (in shares)			948
Common stock issued for stock options and restricted stock units	6,969			6,969
Common stock issued for employee stock purchase plan (in shares)			50
Common stock issued for employee stock purchase plan	1,122			1,122
Exercise of common stock warrants, net (in shares)			407
Tax withholdings related to net share settlements of restricted stock units	(2,006)			(2,006)
Stock-based compensation	4,303			4,303
Net loss	(38,624)						(38,624)
Other comprehensive loss	(61)					(61)
Balance at end (in shares) at Mar. 31, 2020			37,703
Balance at end at Mar. 31, 2020	135,134		$ 4	605,622		84	(470,576)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt Security, Government, Non-US	0
Balance at beginning (in shares) at Dec. 31, 2019			36,298
Balance at beginning at Dec. 31, 2019	104,151		$ 4	535,954		145	(431,952)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(87,074)
Balance at end (in shares) at Sep. 30, 2020			38,300
Balance at end at Sep. 30, 2020	102,595		$ 4	621,372		245	(519,026)
Balance at beginning (in shares) at Mar. 31, 2020			37,703
Balance at beginning at Mar. 31, 2020	135,134		$ 4	605,622		84	(470,576)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)			234
Common stock issued for stock options and restricted stock units	2,673			2,673
Stock-based compensation	3,660			3,660
Net loss	(27,133)						(27,133)
Other comprehensive loss	354					354
Balance at end (in shares) at Jun. 30, 2020			37,937
Balance at end at Jun. 30, 2020	114,688		$ 4	611,955		438	(497,709)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)			324
Common stock issued for stock options and restricted stock units	3,429			3,429
Common stock issued for employee stock purchase plan (in shares)			39
Common stock issued for employee stock purchase plan	1,068			1,068
Stock-based compensation	4,920			4,920
Net loss	(21,317)						(21,317)
Other comprehensive loss	(193)					(193)
Balance at end (in shares) at Sep. 30, 2020			38,300
Balance at end at Sep. 30, 2020	102,595		$ 4	621,372		245	(519,026)
Balance at beginning (in shares) at Dec. 31, 2020			44,441
Balance at beginning at Dec. 31, 2020	306,948	$ (51,012)	$ 4	848,891	$ (58,543)	83	(542,030)	$ 7,531
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)			726
Common stock issued for stock options and restricted stock units	2,250		$ 1	2,249
Common stock issued for employee stock purchase plan (in shares)			38
Common stock issued for employee stock purchase plan	1,192			1,192
Tax withholdings related to net share settlements of restricted stock units	(2,585)			(2,585)
Stock-based compensation	7,385			7,385
Net loss	(27,712)						(27,712)
Other comprehensive loss	(74)					(74)
Balance at end (in shares) at Mar. 31, 2021			45,205
Balance at end at Mar. 31, 2021	236,392		$ 5	798,589		9	(562,211)
Balance at beginning (in shares) at Dec. 31, 2020			44,441
Balance at beginning at Dec. 31, 2020	306,948	$ (51,012)	$ 4	848,891	$ (58,543)	83	(542,030)	$ 7,531
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(85,993)
Balance at end (in shares) at Sep. 30, 2021			45,639
Balance at end at Sep. 30, 2021	199,119		$ 5	819,630		(24)	(620,492)
Balance at beginning (in shares) at Mar. 31, 2021			45,205
Balance at beginning at Mar. 31, 2021	236,392		$ 5	798,589		9	(562,211)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)			297
Common stock issued for stock options and restricted stock units	2,255			2,255
Stock-based compensation	8,171			8,171
Net loss	(27,020)						(27,020)
Other comprehensive loss	(71)					(71)
Balance at end (in shares) at Jun. 30, 2021			45,502
Balance at end at Jun. 30, 2021	219,727		$ 5	809,015		(62)	(589,231)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for stock options and restricted stock units (in shares)			111
Common stock issued for stock options and restricted stock units	1,043			1,043
Common stock issued for employee stock purchase plan (in shares)			26
Common stock issued for employee stock purchase plan	1,236			1,236
Stock-based compensation	8,336			8,336
Net loss	(31,261)						(31,261)
Other comprehensive loss	38					38
Balance at end (in shares) at Sep. 30, 2021			45,639
Balance at end at Sep. 30, 2021	$ 199,119		$ 5	$ 819,630		$ (24)	$ (620,492)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (85,993)	$ (87,074)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	23,689	13,077
Depreciation and amortization	4,347	4,301
Payment of accrued interest on long-term debt	0	(2,593)
Loss on equity securities	0	300
Loss on extinguishment of long-term debt	0	7,143
Amortization of debt discount and deferred financing costs	1,069	6,141
Accretion of discount on short-term investments	(2,436)	(150)
Non-cash operating lease expense	2,553	2,417
Provision for inventory obsolescence and bad debts	2,258	15
Changes in operating assets and liabilities:
Accounts receivable	(4,739)	1,390
Inventory	(10,348)	(6,792)
Prepaid expenses and other assets	(8,265)	4,663
Accounts payable	6,975	(4,286)
Accrued liabilities	(1,161)	(1,533)
Accrued compensation and other employee benefits	958	(2,366)
Customer deposits	(304)	(4,912)
Deferred revenue	1,540	1,739
Operating lease liabilities	(3,173)	(2,262)
Net cash used in operating activities	(73,030)	(70,782)
Investing activities
Purchases of property and equipment	(4,704)	(6,808)
Purchase of internal-use software assets	(651)	0
Proceeds from sale of short-term investments	4,000	17,218
Proceeds from maturity of short-term investments	24,764	89,784
Purchases of short-term investments	(260,239)	(38,804)
Net cash (used in) provided by investing activities	(236,830)	61,390
Financing activities
Proceeds from issuance of 2025 convertible senior notes and borrowings under long-term debt agreement	0	230,000
Fees paid for issuance of 2025 convertible senior notes and long-term debt borrowings	0	(7,403)
Repayment of long-term debt	0	(80,000)
Fees paid upon extinguishment of debt	0	(4,845)
Proceeds from issuance of common stock warrants	0	737
Tax withholdings related to net share settlements of restricted stock units	(2,585)	(2,012)
Proceeds from issuance of common stock for employee stock purchase plan	2,427	2,190
Proceeds from exercise of stock options	5,547	13,077
Repayment of finance lease obligations	(170)	0
Net cash provided by financing activities	5,219	151,744
Net increase (decrease) in cash and cash equivalents	(304,641)	142,352
Effect of exchange rate changes on cash and cash equivalents	(40)	67
Cash and cash equivalents
Beginning of period	411,848	29,033
End of period	107,167	171,452
Supplemental Cash Flow Information [Abstract]
Finance lease right-of-use assets obtained in exchange for lease obligations	$ 448	$ 524

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Description of Business	Description of the BusinessNanoString 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 single-molecule chemistries enable the direct detection, identification, and quantification of individual target molecules in biological samples by attaching unique molecular reporters to each target molecule of interest. The Company currently markets and sells two platforms based on its proprietary technologies, 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.

Concentration of Risks

Concentration of Risks	9 Months Ended
	Sep. 30, 2021
Risks and Uncertainties [Abstract]
Concentration of Risks	Concentration of 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. Additionally, the Company evaluates collectability risk over the life of its receivables in order to establish an appropriate reserve for certain receivables that may become uncollectible in future periods. The Company has not experienced significant credit losses to date. During the three and nine months ended September 30, 2021 and 2020, the Company had no customers that individually represented more than 10% of total revenue. The Company had no customers that represented more than 10% of total accounts receivable as of September 30, 2021 or December 31, 2020. 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 sole suppliers. The impact of the COVID-19 global pandemic has not had a significant impact on the Company’s ability to source raw materials or its instruments to date. However, a change in or loss of suppliers could cause a delay in manufacturing and a possible loss of sales, which would adversely affect operating results. Should COVID-19 (or a variant thereof) continue to impact the global economy at the same or heightened levels during future periods, or if certain geographies where the Company’s key suppliers or manufacturing facilities are located are more severely impacted than others, this could negatively impact the Company’s ability to manufacture new products, fulfill customer orders, and collect from customers, which could adversely affect future operating results.

Short-term Investments

Short-term Investments	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 Amortized Gross Gross Fair value Corporate debt securities $ 197,737 $ 17 $ (22) $ 197,732 Government-related debt securities 33,186 — (12) 33,174 Asset-backed securities 31,788 2 (9) 31,781 Total available-for-sale debt securities $ 262,711 $ 19 $ (43) $ 262,687 Type of securities as of December 31, 2020 Amortized Gross Gross Fair value Corporate debt securities $ 22,338 $ 71 $ — $ 22,409 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 The fair values of available-for-sale debt securities by contractual maturity were as follows (in thousands): September 30, 2021 December 31, 2020 Maturing in one year or less $ 185,131 $ 28,883 Maturing in one to three years 77,556 — Total available-for-sale debt securities $ 262,687 $ 28,883 The Company has both the intent and ability to sell its available-for-sale debt securities maturing greater than one year within 12 months from the balance sheet date and, accordingly, has classified these securities as current in the condensed consolidated balance sheets. The following table summarizes investments that have been in a continuous unrealized loss position as of September 30, 2021 (in thousands). Less than 12 months 12 months or greater Total Fair Value Gross unrealized losses Fair Value Gross unrealized losses Fair Value Gross unrealized losses Corporate debt securities $ 41,858 $ (22) $ — $ — $ 41,858 $ (22) Government-related debt securities 33,174 (12) — — 33,174 (12) Asset Backed Securities 11,202 (9) — — 11,202 (9) Total $ 86,234 $ (43) $ — $ — $ 86,234 $ (43) The Company invests in securities that are rated investment grade or better. The unrealized losses on available-for-sale debt securities as of September 30, 2021 were caused primarily by interest rate increases. The Company reviews the individual securities in its portfolio for impairment when events indicate the fair value of the investments may be below the carrying value. The Company reviews the individual securities in its portfolio for indications that unrealized losses are credit related and require an allowance to be recorded at the present value of the future expected cash flows. The Company determined unrealized losses were not for credit losses and so did not record an allowance related to its available-for-sale debt investments for the three and nine month periods ended September 30, 2021. The Company did not record any impairment charges related to its available-for-sale debt investments for the three and nine month periods ended September 30, 2021.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. On May 6, 2021, 10x Genomics, Inc. and Prognosys Biosciences, Inc. (“Prognosys”) filed a complaint, and on May 19, 2021, an amended complaint, against the Company in the U.S. District Court for the District of Delaware. The amended complaint alleges that certain of the Company’s products, services and components, including those sold by the Company for use in connection with its GeoMx DSP system (the “Identified Products”), infringe seven patents owned by Prognosys: (a) U.S. Patent No. 10,472,669,“Spatially encoded biological assays,” (b) U.S. Patent No. 10,662,467,“Spatially encoded biological assays,” (c) U.S. Patent No. 10,961,566,“Spatially encoded biological assays,” (d) U.S. Patent No. 10,983,133,“Spatially encoded biological assays,” (e) U.S. Patent No. 10,966,219,“Spatially encoded biological assays,” (f) U.S. Patent No. 11,001,878, “Spatially encoded biological assays,” and (g) U.S. Patent No. 11,008,607, “Spatially encoded biological assays” (the “Asserted Patents”). The complaint seeks, among other relief, injunctive relief and unspecified damages (including treble damages and attorneys’ fees) in relation to the Company’s making, using, selling, offering to sell, exporting and/or importing in the United States the Identified Products, as well as the alleged infringement by others of the Asserted Patents through their use of the Identified Products. The Company has evaluated the plaintiffs’ claims and does not believe that its activities infringe any patent rights held by the plaintiffs. The Company intends to vigorously defend itself in the ongoing litigation. The Company is unable to estimate a range of loss, if any, that could result were there to be an adverse final decision in this case. The Company is involved in other legal proceedings from time to time arising in the normal 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 the outcome of these proceedings will not have a material impact on the Company’s financial condition, results of operations, or liquidity.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. The unaudited condensed consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated financial statements at that date but does not include all information and disclosures required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for annual financial statements. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. GAAP for unaudited condensed consolidated financial information. Accordingly, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of the Company’s financial position and results of its operations as of and for the periods presented. Unless indicated otherwise, all amounts presented in financial tables are presented in thousands, except for per share and par value amounts. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Given the global economic climate and additional or unforeseen effects from the COVID-19 pandemic, certain estimates are becoming more challenging, and actual results could differ materially from those estimates. The results of the Company’s operations for the three and nine month periods ended September 30, 2021 are not necessarily indicative of the results to be expected for the full year or for any other period. 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 GeoMx DSP and nCounter Analysis systems, and related consumables. Services consist of instrument service contracts and service fees for assay processing. The Company at times may enter into collaboration agreements that generally recognizes revenue based on the timing and amount of development activities or the achievement of certain milestones. Expenses incurred in relation to research activities conducted in conjunction with our collaboration partners are recognized when the related activities have occurred and are classified in the statement of operations, generally as research and development expense. Convertible Senior Notes Prior to January 1, 2021, in accordance with the prior accounting guidance for debt with conversion and other options, the Company separately accounted for the liability and equity components of its 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 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 represented 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. In connection with the issuance of the Convertible Notes, the Company 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 were deemed attributable to the equity component and were allocated to additional paid-in capital. The Company adopted “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)” (“ASU 2020-06”) effective January 1, 2021 and, as a result, is no longer allocating proceeds between a liability and an equity component. The Company uses the if-converted method for purposes of calculating dilutive earnings per share, if the Convertible Notes are dilutive during the period. In connection with the issuance of the Convertible Notes, the Company incurred certain financing costs associated directly with the issuance of the Convertible Notes. These issuance costs were deferred and are amortized to interest expense over five years using the effective interest method. See Note 9. Long-term Debt, Net for additional information regarding the Convertible Notes. Leases The Company determines if an arrangement is a lease at inception of a contract. The Company’s leasing portfolio is comprised of operating leases primarily for general office, manufacturing, and research and development purposes, and financing leases for equipment. Operating and financing 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. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Finance lease assets are amortized within operating expenses on a straight-line basis over the shorter of the estimated useful lives of the assets or, in the instance where title does not transfer at the end of the lease term, the lease term. The interest component of a finance lease is included in interest expense and recognized using the effective interest method over the lease term. For our short-term leases, we recognize lease payments as an expense on a straight-line basis over the lease term. Capitalized Internal-Use Software Costs The Company capitalizes certain development costs incurred in connection with software development for hosted third-party as well well internal-use software platforms used in operations. Costs incurred in the preliminary stages of development are expensed as incurred. Once software has reached the development stage, internal and external costs, if direct, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as part of current and long-term other assets. Maintenance and training costs are expensed as incurred. Capitalized internal-use software for hosted third-party software platforms is expensed on a straight-line basis over the term of the related hosting arrangement, while capitalized costs for internal-use software platforms is amortized on a straight-line basis over the estimated useful life of the intangible asset. Costs are recorded within the consolidated statements of operations based on the functional use of the software. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board, or 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).” 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

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	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 instruments and GeoMx DSP instruments, consumables and related services. 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): Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Americas Europe and Middle East Asia Pacific Total Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 8,514 $ 3,827 $ 2,154 $ 14,495 $ 21,650 $ 10,230 $ 6,176 $ 38,056 Consumables 13,120 3,682 1,226 18,028 36,928 11,538 3,506 51,972 Total product revenue 21,634 7,509 3,380 32,523 58,578 21,768 9,682 90,028 Service revenue 2,957 1,149 295 4,401 8,138 3,010 774 11,922 Total product and service revenue 24,591 8,658 3,675 36,924 66,716 24,778 10,456 101,950 Collaboration revenue 226 — — 226 680 — — 680 Total revenues $ 24,817 $ 8,658 $ 3,675 $ 37,150 $ 67,396 $ 24,778 $ 10,456 $ 102,630 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Americas Europe and Middle East Asia Pacific Total Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 7,315 $ 4,145 $ 1,418 $ 12,878 $ 20,973 $ 8,408 $ 3,131 $ 32,512 Consumables 9,838 3,058 754 13,650 23,585 7,966 1,968 33,519 Total product revenue 17,153 7,203 2,172 26,528 44,558 16,374 5,099 66,031 Service revenue 2,368 874 320 3,562 6,328 2,625 746 9,699 Total product and service revenue 19,521 8,077 2,492 30,090 50,886 18,999 5,845 75,730 Collaboration revenue 1,755 — — 1,755 5,324 — — 5,324 Total revenues $ 21,276 $ 8,077 $ 2,492 $ 31,845 $ 56,210 $ 18,999 $ 5,845 $ 81,054 Total revenue in the United States was $23.9 million, $20.5 million for the three month periods ended September 30, 2021 and 2020, respectively. Total revenue in the United States was $65.0 million, and $54.3 million for the nine month periods ended September 30, 2021 and 2020, respectively. The Company’s assets are primarily located in the United States and therefore are not allocated to any specific geographic region. Contract balances and remaining performance obligations Contract liabilities are comprised of the current and long-term portions of deferred revenue of $8.5 million and $7.0 million as of September 30, 2021 and December 31, 2020, respectively, and customer deposits of $1.3 million and $1.6 million as of September 30, 2021 and December 31, 2020, respectively, included within the condensed consolidated balance sheets. Total contract liabilities increased by $1.2 million as of September 30, 2021 as a result of additional deferred revenue of $11.1 million associated primarily with new or extended service contracts, partially offset by the recognition of previously deferred revenue and customer deposits of $9.9 million for the completion of certain performance obligations during the period. The Company recorded contract assets of $0.6 million as of September 30, 2021 related to revenues recognized, but not yet invoiced to customers. 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 September 30, 2021, unsatisfied or partially unsatisfied performance obligations related to undelivered products and service contracts were $9.9 million and are expected to be completed over the term of the related contract or as products are delivered.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
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. Outstanding stock options, restricted stock units and 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 shares were excluded from the computation of basic and diluted net loss per share for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, 2021 2021 2020 2021 2020 Options to purchase common stock 2,138 3,196 2,349 3,546 Restricted stock units 1,318 1,624 1,356 1,552 Common stock warrants 471 479 471 518

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
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): Fair value measurement using: Type of securities as of September 30, 2021 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 94,814 $ — $ — $ 94,814 Short-term investments: Corporate debt securities — 197,732 — 197,732 Government-related debt securities — 33,174 — 33,174 Asset-backed securities — 31,781 — 31,781 Total $ 94,814 $ 262,687 $ — $ 357,501 Fair value measurement using: Type of securities as of December 31, 2020 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 Government-related debt securities — 5,003 — 5,003 Asset-backed securities — 1,471 — 1,471 Total $ 400,757 $ 28,883 $ — $ 429,640 In March 2020, the Company issued $230.0 million of Convertible 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 9. Long-term Debt, Net. As of September 30, 2021, the fair value of the Convertible Notes was $301.1 million.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory, net of related allowances, consisted of the following as of the date indicated (in thousands): September 30, 2021 December 31, 2020 Raw materials $ 5,260 $ 4,286 Work in process 8,315 5,981 Finished goods 17,520 12,692 Total inventory, net $ 31,095 $ 22,959

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt, Net Convertible Notes In March 2020, the Company issued $230.0 million in aggregate principal amount of its 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 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 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, upon issuance, 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 was 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 initially recorded in additional paid-in capital in the Company’s condensed consolidated balance sheets. 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 were to be amortized to interest expense using the effective interest method over five years, the contractual term of the Convertible Notes, with an effective interest rate of 9.9%. The Company adopted “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)” (“ASU 2020-06”) effective January 1, 2021 and, as a result, is no longer allocating proceeds between a liability and an equity component. The Company recorded a cumulative effect of the change in accounting policy as a reclassification of $58.5 million from equity to long-term debt on its condensed consolidated balance sheets, and also recorded an increase of $7.5 million to retained earnings representing the reversal of the cumulative amount of the previously amortized debt discount. The debt discount and debt issuance costs are amortized to interest expense using the effective interest method over five years, the contractual term of the Convertible Notes, with an effective interest rate of 3.3%. The Company monitors the provision of the Convertible Notes that allow for certain conversion rights at each quarterly reporting date in order to determine whether the Convertible Notes are convertible or subject to an event triggering potential redemption during the prescribed measurement periods. As of the date of this report, none of the outstanding convertible notes had been redeemed by the Company. Based on the closing price of our common stock of $48.01 on the last trading day of the quarter, the if-converted values of the Convertible Notes exceeded the remaining principal amounts by $1.0 million as of September 30, 2021. Prior to the adoption of ASU 2020-06, for U.S. tax purposes the debt discount previously recorded by the Company was treated as a deferred tax liability. However, as a result of the adoption of ASU 2020-06, there is no longer a difference in book and tax treatment of the convertible debt, and as such, the Company recorded a reduction of $12.0 million to reduce its deferred tax liabilities, with a corresponding increase to its deferred tax asset valuation allowance. 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 (in thousands): December 31, 2020 September 30, 2021 As Reported Adjustment As Adjusted Outstanding principal of Convertible Note $ 230,000 $ 230,000 $ — $ 230,000 Less: unamortized debt discounts and issuance costs (5,215) (57,297) 51,012 (6,285) Long-term debt, net $ 224,785 $ 172,703 $ 51,012 $ 223,715 The following table sets forth total interest expense recognized related to the Convertible Notes (in thousands): Three Months Ended September 30, 2021 2020 As Reported Adjustment As Adjusted Contractual interest expense $ 1,509 $ 1,493 $ — $ 1,493 Amortization of debt discount and issuance costs 361 2,655 (2,335) 320 Total interest expense $ 1,870 $ 4,148 $ (2,335) $ 1,813

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect the accounts of the Company and its wholly-owned subsidiaries. The unaudited condensed consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated financial statements at that date but does not include all information and disclosures required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for annual financial statements. These unaudited condensed consolidated financial statements and notes should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. GAAP for unaudited condensed consolidated financial information. Accordingly, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of the Company’s financial position and results of its operations as of and for the periods presented. Unless indicated otherwise, all amounts presented in financial tables are presented in thousands, except for per share and par value amounts. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Given the global economic climate and additional or unforeseen effects from the COVID-19 pandemic, certain estimates are becoming more challenging, and actual results could differ materially from those estimates. The results of the Company’s operations for the three and nine month periods ended September 30, 2021 are not necessarily indicative of the results to be expected for the full year or for any other period.
Revenue Recognition	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 GeoMx DSP and nCounter Analysis systems, and related consumables. Services consist of instrument service contracts and service fees for assay processing.
Convertible Senior Notes	Convertible Senior Notes Prior to January 1, 2021, in accordance with the prior accounting guidance for debt with conversion and other options, the Company separately accounted for the liability and equity components of its 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 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 represented 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. In connection with the issuance of the Convertible Notes, the Company 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 were deemed attributable to the equity component and were allocated to additional paid-in capital. The Company adopted “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)” (“ASU 2020-06”) effective January 1, 2021 and, as a result, is no longer allocating proceeds between a liability and an equity component. The Company uses the if-converted method for purposes of calculating dilutive earnings per share, if the Convertible Notes are dilutive during the period. In connection with the issuance of the Convertible Notes, the Company incurred certain financing costs associated directly with the issuance of the Convertible Notes. These issuance costs were deferred and are amortized to interest expense over five years using the effective interest method.
Leases	Leases The Company determines if an arrangement is a lease at inception of a contract. The Company’s leasing portfolio is comprised of operating leases primarily for general office, manufacturing, and research and development purposes, and financing leases for equipment. Operating and financing 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. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Finance lease assets are amortized within operating expenses on a straight-line basis over the shorter of the estimated useful lives of the assets or, in the instance where title does not transfer at the end of the lease term, the lease term. The interest component of a finance lease is included in interest expense and recognized using the effective interest method over the lease term. For our short-term leases, we recognize lease payments as an expense on a straight-line basis over the lease term. Capitalized Internal-Use Software Costs
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board, or 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).” 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
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. Outstanding stock options, restricted stock units and 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.
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.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2021
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): Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Americas Europe and Middle East Asia Pacific Total Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 8,514 $ 3,827 $ 2,154 $ 14,495 $ 21,650 $ 10,230 $ 6,176 $ 38,056 Consumables 13,120 3,682 1,226 18,028 36,928 11,538 3,506 51,972 Total product revenue 21,634 7,509 3,380 32,523 58,578 21,768 9,682 90,028 Service revenue 2,957 1,149 295 4,401 8,138 3,010 774 11,922 Total product and service revenue 24,591 8,658 3,675 36,924 66,716 24,778 10,456 101,950 Collaboration revenue 226 — — 226 680 — — 680 Total revenues $ 24,817 $ 8,658 $ 3,675 $ 37,150 $ 67,396 $ 24,778 $ 10,456 $ 102,630 Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Americas Europe and Middle East Asia Pacific Total Americas Europe and Middle East Asia Pacific Total Product revenue: Instruments $ 7,315 $ 4,145 $ 1,418 $ 12,878 $ 20,973 $ 8,408 $ 3,131 $ 32,512 Consumables 9,838 3,058 754 13,650 23,585 7,966 1,968 33,519 Total product revenue 17,153 7,203 2,172 26,528 44,558 16,374 5,099 66,031 Service revenue 2,368 874 320 3,562 6,328 2,625 746 9,699 Total product and service revenue 19,521 8,077 2,492 30,090 50,886 18,999 5,845 75,730 Collaboration revenue 1,755 — — 1,755 5,324 — — 5,324 Total revenues $ 21,276 $ 8,077 $ 2,492 $ 31,845 $ 56,210 $ 18,999 $ 5,845 $ 81,054

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Shares Underlying Outstanding Options and Warrants were Excluded from Computation of Basic and Diluted Net Loss Per Share	The following shares were excluded from the computation of basic and diluted net loss per share for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, 2021 2021 2020 2021 2020 Options to purchase common stock 2,138 3,196 2,349 3,546 Restricted stock units 1,318 1,624 1,356 1,552 Common stock warrants 471 479 471 518

Short-term Investments (Tables)

Short-term Investments (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale	Short-term investments consisted of available-for-sale and equity securities as follows (in thousands): Type of securities as of September 30, 2021 Amortized Gross Gross Fair value Corporate debt securities $ 197,737 $ 17 $ (22) $ 197,732 Government-related debt securities 33,186 — (12) 33,174 Asset-backed securities 31,788 2 (9) 31,781 Total available-for-sale debt securities $ 262,711 $ 19 $ (43) $ 262,687 Type of securities as of December 31, 2020 Amortized Gross Gross Fair value Corporate debt securities $ 22,338 $ 71 $ — $ 22,409 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
Fair Values of Available-for-Sale Securities by Contractual Maturity	The fair values of available-for-sale debt securities by contractual maturity were as follows (in thousands): September 30, 2021 December 31, 2020 Maturing in one year or less $ 185,131 $ 28,883 Maturing in one to three years 77,556 — Total available-for-sale debt securities $ 262,687 $ 28,883
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following table summarizes investments that have been in a continuous unrealized loss position as of September 30, 2021 (in thousands). Less than 12 months 12 months or greater Total Fair Value Gross unrealized losses Fair Value Gross unrealized losses Fair Value Gross unrealized losses Corporate debt securities $ 41,858 $ (22) $ — $ — $ 41,858 $ (22) Government-related debt securities 33,174 (12) — — 33,174 (12) Asset Backed Securities 11,202 (9) — — 11,202 (9) Total $ 86,234 $ (43) $ — $ — $ 86,234 $ (43)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
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): Fair value measurement using: Type of securities as of September 30, 2021 Level 1 Level 2 Level 3 Total Cash equivalents: Money market fund $ 94,814 $ — $ — $ 94,814 Short-term investments: Corporate debt securities — 197,732 — 197,732 Government-related debt securities — 33,174 — 33,174 Asset-backed securities — 31,781 — 31,781 Total $ 94,814 $ 262,687 $ — $ 357,501 Fair value measurement using: Type of securities as of December 31, 2020 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 Government-related debt securities — 5,003 — 5,003 Asset-backed securities — 1,471 — 1,471 Total $ 400,757 $ 28,883 $ — $ 429,640

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory, net of related allowances, consisted of the following as of the date indicated (in thousands): September 30, 2021 December 31, 2020 Raw materials $ 5,260 $ 4,286 Work in process 8,315 5,981 Finished goods 17,520 12,692 Total inventory, net $ 31,095 $ 22,959

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Components of Borrowings, Including Current Portion	The outstanding balances of the Company’s Convertible Notes and previously outstanding term loan consisted of the following (in thousands): December 31, 2020 September 30, 2021 As Reported Adjustment As Adjusted Outstanding principal of Convertible Note $ 230,000 $ 230,000 $ — $ 230,000 Less: unamortized debt discounts and issuance costs (5,215) (57,297) 51,012 (6,285) Long-term debt, net $ 224,785 $ 172,703 $ 51,012 $ 223,715
Schedule of Interest Expense	The following table sets forth total interest expense recognized related to the Convertible Notes (in thousands): Three Months Ended September 30, 2021 2020 As Reported Adjustment As Adjusted Contractual interest expense $ 1,509 $ 1,493 $ — $ 1,493 Amortization of debt discount and issuance costs 361 2,655 (2,335) 320 Total interest expense $ 1,870 $ 4,148 $ (2,335) $ 1,813 Nine Months Ended September 30, 2021 2020 As Reported Adjustment As Adjusted Contractual interest expense $ 4,528 $ 3,388 $ — $ 3,388 Amortization of debt discount and issuance costs 1,069 5,910 (5,167) 743 Total interest expense $ 5,597 $ 9,298 $ (5,167) $ 4,131

Description of Business - Addit

Description of Business - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021platform
Equity [Abstract]
Number of platforms	2

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Significant Accounting Policies [Line Items]
Amortization period of deferred issuance costs	5 years
Reduction to equity	$ (199,119)	$ (219,727)	$ (236,392)	$ (306,948)	$ (102,595)	$ (114,688)	$ (135,134)	$ (104,151)
Reduction to accumulated deficit / increase to retained earnings	(620,492)			(542,030)
Additional Paid-in Capital
Significant Accounting Policies [Line Items]
Reduction to equity	(819,630)	(809,015)	(798,589)	(848,891)	(621,372)	(611,955)	(605,622)	(535,954)
Accumulated Deficit
Significant Accounting Policies [Line Items]
Reduction to equity	$ 620,492	$ 589,231	$ 562,211	542,030	$ 519,026	$ 497,709	$ 470,576	$ 431,952
Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Reduction to equity				51,012
Reduction to accumulated deficit / increase to retained earnings				7,500
Cumulative Effect, Period of Adoption, Adjustment | Additional Paid-in Capital
Significant Accounting Policies [Line Items]
Reduction to equity				58,543
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit
Significant Accounting Policies [Line Items]
Reduction to equity				$ (7,531)
Senior Notes | Convertible Notes
Significant Accounting Policies [Line Items]
Debt instrument stated rate				2.625%

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)sales_force	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Number Of Sales Forces | sales_force			1
Contract liabilities	$ (8,500,000)		$ (8,500,000)		$ (7,000,000)
Customer deposits	1,327,000		1,327,000		1,631,000
Performance obligation satisfied in previous period			9,900,000
Cash payments received form customers			11,100,000
Contract assets	600,000		$ 600,000		$ 0
Revenue, Performance Obligation, Description of Payment Terms			45 days
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	1,200,000		$ 1,200,000
UNITED STATES
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	23,900,000	$ 20,500,000	65,000,000	$ 54,300,000
Total Products And Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation	$ 9,900,000		$ 9,900,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 37,150	$ 31,845	$ 102,630	$ 81,054
Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	14,495	12,878	38,056	32,512
Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	18,028	13,650	51,972	33,519
Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	32,523	26,528	90,028	66,031
Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	4,401	3,562	11,922	9,699
Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	36,924	30,090	101,950	75,730
Collaboration revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	226	1,755	680	5,324
Americas
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	24,817	21,276	67,396	56,210
Americas | Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	8,514	7,315	21,650	20,973
Americas | Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	13,120	9,838	36,928	23,585
Americas | Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	21,634	17,153	58,578	44,558
Americas | Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	2,957	2,368	8,138	6,328
Americas | Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	24,591	19,521	66,716	50,886
Americas | Collaboration revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	226	1,755	680	5,324
Europe and Middle East
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	8,658	8,077	24,778	18,999
Europe and Middle East | Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	3,827	4,145	10,230	8,408
Europe and Middle East | Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	3,682	3,058	11,538	7,966
Europe and Middle East | Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	7,509	7,203	21,768	16,374
Europe and Middle East | Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	1,149	874	3,010	2,625
Europe and Middle East | Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	8,658	8,077	24,778	18,999
Europe and Middle East | Collaboration revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	0	0	0	0
Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	3,675	2,492	10,456	5,845
Asia Pacific | Instruments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	2,154	1,418	6,176	3,131
Asia Pacific | Consumables
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	1,226	754	3,506	1,968
Asia Pacific | Total product revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	3,380	2,172	9,682	5,099
Asia Pacific | Service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	295	320	774	746
Asia Pacific | Total product and service revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	3,675	2,492	10,456	5,845
Asia Pacific | Collaboration revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Shares Underlying Outstanding Options and Warrants were Excluded from Computation of Basic and Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
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)	2,138	3,196	2,349	3,546
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)	1,318	1,624	1,356	1,552
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)	471	479	471	518

Short-term Investments - Availa

Short-term Investments - Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 262,711	$ 28,800
Gross unrealized gains	19	83
Gross unrealized losses	(43)	0
Fair value	262,687	28,883
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	197,737	22,338
Gross unrealized gains	17	71
Gross unrealized losses	(22)	0
Fair value	197,732	22,409
Government-related debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	33,186	5,000
Gross unrealized gains	0	3
Gross unrealized losses	(12)	0
Fair value	33,174	5,003
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	31,788	1,462
Gross unrealized gains	2	9
Gross unrealized losses	(9)	0
Fair value	$ 31,781	$ 1,471

Short-term Investments - Fair V

Short-term Investments - Fair Values of Available-for-Sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 185,131	$ 28,883
Maturing in one to three years	77,556	0
Total available-for-sale debt securities	$ 262,687	$ 28,883

Short-term Investments - Summar

Short-term Investments - Summary of Investments in a Continuous Loss Position (Details)	Sep. 30, 2021USD ($)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 86,234,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(43,000)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Total, Fair value	86,234,000
Total, Gross unrealized losses	(43,000)
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	41,858,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(22,000)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Total, Fair value	41,858,000
Total, Gross unrealized losses	(22,000)
US Government Debt Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	33,174,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(12,000)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Total, Fair value	33,174,000
Total, Gross unrealized losses	(12,000)
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	11,202,000
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(9,000)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Total, Fair value	11,202,000
Total, Gross unrealized losses	$ (9,000)

Fair Value Measurements - Compa

Fair Value Measurements - Company's Available-for-Sale Securities by Level within Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 262,687		$ 28,883
Total	357,501		429,640
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	197,732		22,409
Government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	33,174		5,003
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	31,781		1,471
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value	31,781		1,471
Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	94,814		400,757
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	94,814		400,757
Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0		0
Level 1 | Government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	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 | Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	94,814		400,757
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	262,687		28,883
Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	197,732		22,409
Level 2 | Government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	33,174		5,003
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	31,781		1,471
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]
Fair value	0		0
Level 3 | Government-related debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	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 | Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0		$ 0
Convertible Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt fair value	$ 301,100
Senior Notes | Convertible Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument face amount		$ 230,000

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 5,260	$ 4,286
Work in process	8,315	5,981
Finished goods	17,520	12,692
Inventory, net	$ 31,095	$ 22,959

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2020USD ($)$ / shares	Jun. 30, 2021	Sep. 30, 2021USD ($)day$ / shares	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)
Line of Credit Facility [Line Items]
Common stock, par value (in dollars per share) | $ / shares			$ 0.0001		$ 0.0001
Share price (in usd per share) | $ / shares			$ 48.01
Reduction to accumulated deficit / increase to retained earnings			$ (620,492)		$ (542,030)
Cumulative Effect, Period of Adoption, Adjustment
Line of Credit Facility [Line Items]
Decrease in deferred tax liabilities			12,000
Reduction to accumulated deficit / increase to retained earnings					$ 7,500
Increase in deferred tax asset valuation allowance			12,000
Convertible Notes
Line of Credit Facility [Line Items]
Convertible debt fair value						$ 169,500
Interest rate of debt	9.35%
Unamortized discount						60,500
Debt issuance costs						$ 7,400
Debt issuance cost, equity component			1,900
Debt issuance cost, liability component			$ 5,500
Debt term			5 years
Effective interest rate		9.90%	3.30%
Term Loan Agreement
Line of Credit Facility [Line Items]
Repayments of debt	$ 88,600
Senior Notes | Convertible Notes
Line of Credit Facility [Line Items]
Debt instrument face amount				$ 230,000
Debt instrument stated rate					2.625%
Proceeds from issuance of debt	$ 222,600
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001
Conversion ratio	20.9161
Conversion price | $ / shares	$ 47.81
Threshold consecutive trading days | day			30
Redemption price percentage			100.00%
Triggering Event 1 | Senior Notes | Convertible Notes
Line of Credit Facility [Line Items]
Threshold trading days | day			20
Threshold consecutive trading days | day			30
Threshold percentage of stock price trigger			130.00%
Triggering Event 2 | Senior Notes | Convertible Notes
Line of Credit Facility [Line Items]
Threshold trading days | day			5
Threshold consecutive trading days | day			5
Threshold percentage of stock price trigger			98.00%

Long-term Debt - Components of

Long-term Debt - Components of Borrowings, Including Current Portion (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Unamortized debt discounts	$ (5,215)		$ (57,297)
Long-term debt, net of discounts	224,785		172,703
Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Unamortized debt discounts			51,012
Long-term debt, net of discounts			51,012
Cumulative Effect, Period of Adoption, Adjusted Balance
Debt Instrument [Line Items]
Unamortized debt discounts			(6,285)
Long-term debt, net of discounts			223,715
Convertible Notes
Debt Instrument [Line Items]
Outstanding Principal Of Convertible Debt	230,000		230,000
Debt Instrument, Convertible, If-converted Value in Excess of Principal	$ 1,000
Equity component of convertible debt		$ 58,500
Convertible Notes | Cumulative Effect, Period of Adoption, Adjusted Balance
Debt Instrument [Line Items]
Outstanding Principal Of Convertible Debt			$ 230,000

Long-term Debt - Schedule of In

Long-term Debt - Schedule of Interest (Details) - Convertible Notes - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Contractual interest expense	$ 1,509	$ 1,493	$ 4,528	$ 3,388
Amortization of debt discount and issuance costs	361	2,655	1,069	5,910
Total interest expense	$ 1,870	4,148	$ 5,597	9,298
Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs		(2,335)		(5,167)
Total interest expense		(2,335)		(5,167)
Cumulative Effect, Period of Adoption, Adjusted Balance
Debt Instrument [Line Items]
Contractual interest expense		1,493		3,388
Amortization of debt discount and issuance costs		320		743
Total interest expense		$ 1,813		$ 4,131