Bionano Genomics (BNGO) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 06, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38613
Entity Registrant Name	Bionano Genomics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1756290
Entity Address, Address Line One	9540 Towne Centre Drive, Suite 100
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	888-7600
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	BNGO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		66,856,804
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001411690
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 15,759	$ 17,948
Investments	12,561	48,823
Accounts receivable, net	8,313	9,319
Inventory	19,587	22,892
Prepaid expenses and other current assets	4,945	6,019
Restricted investments	24,446	35,117
Total current assets	85,611	140,118
Restricted cash	400	400
Property and equipment, net	25,279	23,345
Operating lease right-of-use assets	4,870	5,633
Finance lease right-of-use assets	3,453	3,503
Intangible assets, net	31,734	33,974
Other long-term assets	6,648	7,431
Total assets	157,995	214,404
Current liabilities:
Accounts payable	9,844	10,384
Accrued expenses	11,028	8,089
Contract liabilities	1,035	783
Operating lease liability	2,190	2,163
Finance lease liability	269	272
Purchase option liability (at fair value)	5,060	8,534
Convertible notes payable (at fair value)	29,080	69,803
Total current liabilities	58,506	100,028
Operating lease liability, net of current portion	2,755	3,590
Finance lease liability, net of current portion	3,575	3,585
Contingent consideration	10,250	10,890
Long-term contract liabilities	138	154
Total liabilities	75,224	118,247
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value, 400,000,000 shares authorized at March 31, 2024 and December 31, 2023; 57,539,000 and 45,752,000 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	6	5
Additional paid-in capital	695,411	677,337
Accumulated deficit	(612,630)	(581,208)
Accumulated other comprehensive income (loss)	(16)	23
Total stockholders’ equity	82,771	96,157
Total liabilities and stockholders’ equity	$ 157,995	$ 214,404

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	57,539,000	45,752,000
Common stock, shares outstanding (in shares)	57,539,000	45,752,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 8,769	$ 7,415
Cost of revenue:
Total cost of revenue	5,945	5,345
Operating expenses:
Research and development	9,779	13,937
Selling, general and administrative	19,536	25,976
Restructuring costs	4,632	0
Total operating expenses	33,947	39,913
Loss from operations	(31,123)	(37,843)
Other income (expense):
Interest income	1,044	704
Interest expense	(122)	(76)
Other income (expense)	(1,239)	117
Total other income (expense)	(317)	745
Loss before income taxes	(31,440)	(37,098)
Benefit (provision) for income taxes	18	(26)
Net loss	$ (31,422)	$ (37,124)
Net loss per share, basic (in dollars per share)	$ (0.60)	$ (1.23)
Net loss per share, diluted (in dollars per share)	$ (0.60)	$ (1.23)
Weighted-average common shares outstanding, basic (in shares)	52,739	30,205
Weighted-average common shares outstanding, diluted (in shares)	52,739	30,205
Product revenue
Revenue:
Total revenue	$ 6,828	$ 5,447
Cost of revenue:
Total cost of revenue	4,904	3,858
Service and other revenue
Revenue:
Total revenue	1,941	1,968
Cost of revenue:
Total cost of revenue	$ 1,041	$ 1,487

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss:	$ (31,422)	$ (37,124)
Other comprehensive income (loss):
Unrealized gain (loss) on investment securities	(13)	423
Foreign currency translation adjustments	(26)	36
Other comprehensive income (loss)	(39)	459
Total comprehensive loss	$ (31,461)	$ (36,665)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		29,718,000
Beginning balance at Dec. 31, 2022	$ 249,398	$ 3	$ 599,234	$ (348,715)	$ (1,124)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises (in shares)		4,000
Stock option exercises	23		23
Stock-based compensation expense	3,882		3,882
Issue common stock, net of issuance costs (in shares)		950,000
Issue common stock, net of issuance costs	14,848		14,848
Issuance of common stock due to the vesting of restricted stock units, net of shares withheld to cover taxes (in shares)		7,000
Net loss	(37,124)			(37,124)
Other comprehensive income (loss)	459				459
Ending balance (in shares) at Mar. 31, 2023		30,679,000
Ending balance at Mar. 31, 2023	$ 231,486	$ 3	617,987	(385,839)	(665)
Beginning balance (in shares) at Dec. 31, 2023	45,752,000	45,752,000
Beginning balance at Dec. 31, 2023	$ 96,157	$ 5	677,337	(581,208)	23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises (in shares)	0
Stock-based compensation expense	$ 3,015		3,015
Issue common stock, net of issuance costs (in shares)		11,787,000
Issue common stock, net of issuance costs	15,060	$ 1	15,059
Net loss	(31,422)			(31,422)
Other comprehensive income (loss)	$ (39)				(39)
Ending balance (in shares) at Mar. 31, 2024	57,539,000	57,539,000
Ending balance at Mar. 31, 2024	$ 82,771	$ 6	$ 695,411	$ (612,630)	$ (16)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net loss	$ (31,422,000)	$ (37,124,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	3,007,000	3,190,000
Amortization of financing lease right-of-use asset	51,000	51,000
Amortization (accretion) of interest on securities	(694,000)	(82,000)
Non-cash lease expense	27,000	113,000
Gain on lease modification	(73,000)	0
Net realized loss (gain) on investments	2,000	7,000
Stock-based compensation	3,015,000	3,882,000
Change in fair value of contingent consideration	(640,000)	789,000
Change in fair value of convertible notes payable and option liability	(7,534,000)	0
Loss on intangible asset impairment	448,000	0
Loss on property and equipment disposal	284,000	0
Cost of leased equipment sold to customer	98,000	88,000
Changes in operating assets and liabilities:
Accounts receivable	1,004,000	242,000
Inventory	(200,000)	(5,707,000)
Prepaid expenses and other current assets	1,073,000	471,000
Other assets	786,000	(372,000)
Accounts payable	(537,000)	3,017,000
Accrued expenses and contract liabilities	3,174,000	(978,000)
Net cash used in operating activities	(28,131,000)	(32,413,000)
Investing Activities:
Purchases of property and equipment	(26,000)	(360,000)
Purchase of available for sale securities	(110,557,000)	0
Sale and maturity of available for sale securities	158,169,000	16,888,000
Net cash provided by investing activities	47,586,000	16,528,000
Financing activities:
Principal payments on financing lease liability	(13,000)	(10,000)
Proceeds from sale of common stock	15,445,000	15,229,000
Offering expenses on sale of common stock	(386,000)	(380,000)
Payments on convertible notes payable	(36,664,000)	0
Proceeds from warrant and option exercises	0	23,000
Net cash (used in)/provided by financing activities	(21,618,000)	14,862,000
Effect of exchange rates on cash, cash equivalents and restricted cash	(26,000)	36,000
Net decrease in cash, cash equivalents and restricted cash	(2,189,000)	(987,000)
Cash, cash equivalents and restricted cash at beginning of period	18,348,000	5,491,000
Cash, cash equivalents and restricted cash at end of period	16,159,000	4,504,000
Reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets to the total amounts reported on the unaudited condensed consolidated statements of cash flows
Cash and cash equivalents	15,759,000	4,104,000
Restricted cash	400,000	400,000
Total cash, cash equivalents and restricted cash at end of period	16,159,000	4,504,000
Supplemental cash flow disclosures:
Cash paid for interest	5,620,000	76,000
Cash paid for operating lease liabilities	669,000	644,000
Supplemental disclosure of non-cash investing and financing activities:
Transfer of instruments and servers from inventory to property and equipment, net	3,505,000	2,356,000
Property and equipment included in accounts payable	0	230,000
Notes payable issuance costs in accounts payable	$ 44,000	$ 0

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Description of Business Bionano Genomics, Inc. (collectively, with its consolidated subsidiaries, the “Company”) is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company offers optical genome mapping (“OGM”) solutions for applications across basic, translational and clinical research, and for other applications including bioprocessing. Through its Lineagen, Inc. (doing business as Bionano Laboratories, “Bionano Laboratories”) business, the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery, LLC (“BioDiscovery”) business, the Company also offers platform-agnostic software solution, which integrates next-generation sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. Through our Purigen Biosystems Inc. (“Purigen”) business, we offer nucleic acid extraction and purification solutions using proprietary isotachophoresis (“ITP”) technology. Reverse Stock Split On August 4, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split of all issued and outstanding shares of the Company’s common stock at a ratio of 1-for-10. The reverse stock split did not change the par value or the authorized number of shares of the Company’s common stock. The accompanying consolidated financial statements and notes to the consolidated financial statements present the retroactive effect of the reverse stock split on the Company’s common stock and per share amounts for all periods presented. Basis of Presentation The accompanying financial information has been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim reporting purposes. The condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, changes in equity, and comprehensive loss and cash flows for each period presented in accordance with United States generally accepted accounting principles (“U.S. GAAP”). All intercompany transactions and balances have been eliminated. The operating results presented in these unaudited interim condensed financial statements are not necessarily indicative of the results that may be expected for any future periods. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Liquidity and Going Concern The Company has experienced recurring net losses from operations, negative cash flows from operating activities, and accumulated deficit since its inception and expects to continue to incur net losses into the foreseeable future. As of March 31, 2024, the Company had approximately $15.8 million in cash and cash equivalents, $12.6 million in short term investments and $24.8 million in restricted cash and cash equivalents and restricted short-term investments. The amount we are required to hold as restricted cash and cash investments and restricted short-term investments is reduced as the outstanding principal amount of the Notes is paid. The Company has an accumulated deficit of $612.6 million as of March 31, 2024. During the three months ended March 31, 2024, the Company used $28.1 million cash in operations. As of March 31, 2024, the Company reported $29.1 million of Notes as defined in Note 5 (High Trail Agreement) at fair value, which are classified as current. At the holder’s option, as of March 31, 2024, the Company may be required to redeem the $24.3 million outstanding principal amount of the Notes at a redemption price of 115% of the principal amount (the “Repayment Price”) or $28.0 million in 2024. Additionally, the Company will be required to pay a retirement fee to the holder based on amounts redeemed when the outstanding balance is paid in full, which as of March 31, 2024, was estimated at $2.2 million assuming full redemption and no further conversions. Management expects operating losses and negative cash flows to continue for at least the next year as the Company continues to incur costs related to product development and commercialization efforts. Management has prepared cash flows forecasts which indicate that based on the Company’s expected operating losses and negative cash flows, there is substantial doubt about the Company’s ability to continue as a going concern within twelve months after the date that the unaudited condensed consolidated financial statements for the three months ended March 31, 2024, are issued. Management’s ability to continue as a going concern is dependent upon its ability to raise additional funding. Management’s plans to raise additional capital to fulfill its operating and capital requirements for at least 12 months include public or private equity or debt financings. However, the Company may not be able to secure such financing in a timely manner or on favorable terms, if at all. Furthermore, if the Company issues equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders. The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the outcome of this uncertainty. Significant Accounting Policies During the three months ended March 31, 2024, there were no material changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Restructuring The Company’s restructuring expense consists primarily of actions taken in May and October 2023 and March 2024 in order to reduce costs and improve operations and manufacturing efficiency. Severance-related costs were accounted for as a one-time termination benefit communicated by period end without an additional service component, so the charge represents the total amount expected to be incurred. As a result of reducing facility costs and discretionary spending unrelated to headcount and combined with the cost savings from the reduction in force the Company initiated in May and October 2023 and March 2024, such plans are intended to decrease expenses and maintain a streamlined organization to support its business. In connection with the Company’s restructuring initiatives, the Company entered into a lease termination agreement on February 28, 2024 with the landlord for the facility in Salt Lake City that will result in a one-time termination fee in the third quarter of 2024. The Company will continue to lease the property through June 2024. The Company accounted for the lease amendment as a lease modification as of March 31, 2024. See Note 7 (Commitments and Contingencies) for additional information. On March 1, 2024, the Board of Directors approved a cost savings plan, including a reduction in force, that it expects to reduce its annualized operating expenses. This cost savings plan is incremental to the reductions in force in May and October 2023 (the “2023 Workforce Reduction”). As part of the plan, the Company plans to reduce its overall headcount by approximately 120 employees. The Company expects to substantially complete the reduction in force by June 30, 2024. In addition, Bionano Laboratories will phase out over time the offering of certain testing services related to neurodevelopmental disorders, including autism spectrum disorders, and other disorders of childhood development. As of the issuance date of these unaudited condensed consolidated financial statements the Company has not yet ceased offering the above referenced services. The estimates of costs and expenses that the Company expects to incur in connection with the reduction in force are subject to a number of assumptions and actual results may differ materially. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the reduction in force. See Note 7 (Commitments and Contingencies) for additional information. Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets) Long-lived assets are reviewed for impairment if indicators of potential impairment exist. If the Company identifies a change in the circumstances related to its long-lived assets, such as property and equipment and intangible assets (other than goodwill), that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset (other than goodwill) is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense. During the quarter ended March 31, 2024, the Company experienced a triggering event as a result of the restructuring initiatives that required an evaluation of our non-OGM Bionano Laboratories asset group for impairment. The Company performed a recoverability test and concluded that the long-lived assets were not recoverable; therefore, the Company measured the impairment loss and fully impaired the intangible assets acquired through the acquisition of Lineagen, consisting of its trade name and customer relationship intangible assets. The Company recognized an impairment loss of $0.4 million as of March 31, 2024. No impairment losses were recorded during the same period in 2023. Inventories The Company reviews its inventories for classification purposes. The value of inventories not expected to be realized in cash, sold or consumed during the next 12 months are classified as non-current within Other long-term assets. As of March 31, 2024, $4.2 million of inventories were included in Other long term assets. Change in depreciable lives of property and equipment The Company reviews the estimated useful life of its fixed assets on an ongoing basis. This review indicated that the actual lives of the Company’s Saphyr and Stratys instruments were longer than the estimated useful lives used for depreciation purposes in the Company’s unaudited condensed consolidated financial statements. As a result, effective January 1, 2024, the Company changed its estimates of the useful lives of the Company’s Saphyr and Stratys instruments to better reflect the estimated period during which these assets will remain in service. The estimated useful lives of the Company’s Saphyr and Stratys instruments were increased from 5 to 7 years. The effect of this change in estimate reduced depreciation expense by $0.5 million. Recent Accounting Pronouncements

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and common share equivalents outstanding for the period. Common share equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities which include outstanding warrants to purchase stock, restricted stock units (“RSUs”), performance stock units (“PSUs”), and outstanding stock options under the Company’s equity incentive plans have been excluded from the computation of diluted net loss per share as they would be anti-dilutive to the net loss per share. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding because all potentially dilutive securities were anti-dilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive are as follows (in common stock equivalent shares): March 31, March 31, Stock options 3,061,000 3,201,000 Warrants 21,696,000 436,000 Convertible notes payable into common stock 8,498,000 — RSUs 184,000 246,000 PSUs 29,000 29,000 Total 33,468,000 3,912,000

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue by Source Three Months Ended March 31, 2024 2023 Instruments $ 1,614,000 $ 1,896,000 Consumables 3,464,000 2,235,000 Software 1,750,000 1,316,000 Total product revenue 6,828,000 5,447,000 Service and other 1,941,000 1,968,000 Total revenue $ 8,769,000 $ 7,415,000 Revenue by Geographic Location Three Months Ended March 31, 2024 2023 $ % $ % Americas $ 4,690,000 53 % $ 3,444,000 47 % EMEA 3,133,000 36 % 2,992,000 40 % Asia Pacific 946,000 11 % 979,000 13 % Total $ 8,769,000 100 % $ 7,415,000 100 % The table above provides revenue from contracts with customers by source and geographic region (based on the customer’s billing address) on a disaggregated basis. Americas consists of North America and South America. EMEA consists of Europe, the Middle East, and Africa. Asia Pacific includes China, Japan, South Korea, Singapore, India and Australia. For the three months ended March 31, 2024 and 2023, the United States represented 42.6% and 41.2% of total revenue, respectively. No other countries represented greater than 10% of revenue during the three months ended March 31, 2024 and 2023. Remaining Performance Obligations As of March 31, 2024, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied was approximately $1.2 million. These remaining performance obligations primarily relate to extended warranty, support and maintenance obligations, as well as obligations related to software under hosting arrangements. The Company expects to recognize approximately 78.5% of this amount as revenue during the remainder of 2024, 16.1% in 2025, and 5.4% in 2026 and thereafter. Warranty revenue is included in service and other revenue. The Company recognized revenue of approximately $0.6 million and $0.7 million during the three months ended March 31, 2024 and 2023, respectively, which was included in the contract liability balance at the end of the previous year.

Balance Sheet Account Details

Balance Sheet Account Details	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Account Details	Balance Sheet Account Details Accounts Receivable and Allowance for Credit Losses March 31, December 31, December 31, Accounts receivable, net: Accounts receivable, trade $ 8,741,000 $ 9,802,000 $ 7,315,000 Allowance for credit losses (428,000) (483,000) (293,000) $ 8,313,000 $ 9,319,000 $ 7,022,000 Changes to the allowance for credit losses during the three months ended March 31, 2024 and 2023 were as follows: Allowance for Credit Losses Balance as of January 1, 2023 $ (293,000) Provision for expected credit loss (5,000) Write-offs 48,000 Balance as of March 31, 2023 $ (250,000) Balance as of January 1, 2024 $ (483,000) Provision for expected credit loss — Write-offs 55,000 Balance as of March 31, 2024 $ (428,000) The Company’s adoption of ASU No. 2016-13, Financial Instruments - Credit Losses, included an assessment of our aged trade receivables balances and their underlying credit risk characteristics. Our evaluation of past events, current conditions, and reasonable and supportable forecasts about the future resulted in an expectation of immaterial credit losses. Inventory The components of inventories are as follows: March 31, December 31, Inventory: Raw materials $ 7,706,000 $ 7,567,000 Work in process 7,969,000 9,790,000 Finished goods 8,127,000 10,245,000 $ 23,802,000 $ 27,602,000 Inventories current $ 19,587,000 $ 22,892,000 Inventories non-current (included in other long-term assets) $ 4,215,000 $ 4,710,000 Intangible Assets Intangible assets that are subject to amortization consisted of the following for the periods presented: March 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 2,000,000 $ (758,000) $ 1,242,000 $ 2,630,000 $ (1,078,000) $ 1,552,000 Customer relationships 3,200,000 (1,528,000) 1,672,000 4,150,000 (2,002,000) 2,148,000 Developed technology 41,600,000 (12,882,000) 28,718,000 41,600,000 (11,428,000) 30,172,000 Intangibles, net $ 46,800,000 $ (15,168,000) $ 31,632,000 $ 48,380,000 $ (14,508,000) $ 33,872,000 Intangible assets not subject to amortization totaled $0.1 million at March 31, 2024 and December 31, 2023, and related to the Company’s domain name. Accrued Expenses Accrued expenses consist of the following: March 31, December 31, Compensation expenses* $ 8,761,000 $ 5,030,000 Customer deposits 17,000 17,000 Taxes payable 1,034,000 1,099,000 Insurance 234,000 512,000 Professional fees and royalties 312,000 387,000 Warranty liabilities 213,000 391,000 Accrued clinical study fees 57,000 138,000 Other 400,000 515,000 Total $ 11,028,000 $ 8,089,000 *Compensation expenses include restructuring costs of $3.9 million incurred during the quarter ended March 31, 2024. Refer to Note 7 - Commitments and Contingencies.

High Trail Agreement

High Trail Agreement	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
High Trail Agreement	High Trail Agreement As of March 31, 2024, the Company had aggregate principal outstanding under the Notes of $24.3 million, reported at fair value of $29.1 million (refer to Note 8 (Investments and Fair Value Measurements), for fair value measurements and additional discussion) and broken out as follows: Notes Principal balance, December 31, 2023 $ 61,000,000 Less: Conversions — Partial redemption payments of principal 9,000,000 Redemption payment of principal in connection with modification 27,663,000 Notes principal balance, March 31, 2024 $ 24,337,000 On January 1, 2024, and February 1, 2024, the holders redeemed an aggregate of $9.0 million of principal, at the Repayment Price of $10.4 million. As of March 31, 2024, at the holder’s option, the Company may be required to make future aggregate redemptions at the repayment price of 115% as follows (unless earlier converted per the terms): 2024 $ 27,988,000 Thereafter — Total $ 27,988,000 As of March 31, 2024, and assuming no future conversions, the Company would be required to pay a remaining retirement fee of $2.2 million, based on full redemption of principal. Debt Financing Amendment On February 27, 2024, the Company entered into a letter agreement (the “Letter Agreement”) and an Amendment to the Registered Note (the “Amendment”), with the purchaser of the senior secured convertible notes payable due 2025 (the “Registered Notes”) which provided for, among other things, the following: • Reduction (i) of the minimum liquidity covenant from $50.0 million, and (ii) of the restricted cash covenant from $35.0 million, in both cases, to the amount equal to the sum of (iii) the outstanding principal amount of the Registered Notes plus (iv) approximately $0.7 million, which will be further reduced as the remaining principal on the Registered Notes are retired; • Cancellation of the March 2024 partial redemption payment and delay of the April 2024 partial redemption payment to April 20, 2024; • Redemption of the outstanding $17.0 million balance of the senior secured convertible notes payable due 2025 initially issued in a concurrent private placement to the purchaser (the “Private Placement Notes” and together with the Registered Notes, the “Notes”) at a redemption price of 115% for a total redemption payment of approximately $19.6 million; • Redemption of approximately $10.7 million of the Registered Notes at a redemption price of 115% for a total redemption payment of approximately $12.3 million; and • Increase of $1.0 million to the Retirement Fee (as defined in the Notes) of the Private Placement Notes to $3.2 million paid concurrently with redemptions of the initial private placement note, which was recorded in other income (expense). The Company accounted for the Amendment as a modification and therefore recorded no gain or loss. The terms of the new debt permitted the Company to prepay the debt in the same amount as the partial redemption payments at 115% of principal. There was no modification made to the option to purchase additional convertible notes (“Purchase Option”) or Purchase Warrants (as defined in Note 6 (Stockholders’ Equity and Stock-Based Compensation)) issued in connection with the Notes. On April 20, 2024, and May 1, 2024, the holders redeemed an aggregate of $9.0 million of principal, at the Repayment Price of $10.4 million.

Stockholders_ Equity and Stock-

Stockholders’ Equity and Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders’ Equity and Stock-Based Compensation	Stockholders’ Equity and Stock-Based Compensation Reverse Stock Split On August 4, 2023, the Company completed a reverse stock split of its outstanding shares of common stock pursuant to which every 10 shares of issued and outstanding common stock were exchanged for one share of common stock. No fractional shares were issued in the reverse stock split. Instead, the Company paid cash (without interest) equal to such fraction multiplied by $5.90 per share (a price equal to the average of the closing sales prices of the common stock on The Nasdaq Capital Market during regular trading hours for the five consecutive trading days immediately preceding August 4, with such average closing sales prices being adjusted to give effect to a Reverse Stock Split). All share and per share amounts included within these condensed consolidated financial statements have been retrospectively adjusted to reflect the reverse stock split. Cowen At-the-Market Facility On March 23, 2021, the Company entered into a Sales Agreement with Cowen and Company, LLC (“Cowen”) which provides for the sale, in the Company’s sole discretion, of shares of common stock having an aggregate offering price of up to $350.0 million through or to Cowen, acting as sales agent or principal, which was amended on March 9, 2023 to decrease the maximum aggregate offering price to $200.0 million for sales made on and after the date of the amendment (the “Cowen ATM”). The Company agreed to pay Cowen a commission of up to 3.0% of the aggregate gross proceeds from each sale of shares, reimburse legal fees and disbursements and provide Cowen with customary indemnification and contribution rights. During the three months ended March 31, 2024, the Company sold approximately 11.8 million shares of common stock under the Cowen ATM at an average share price of $1.31 per share, and received gross proceeds of approximately $15.4 million before deducting offering costs of $0.4 million. Stock Warrants A summary of the Company’s warrant activity during the three months ended March 31, 2024 was as follows: Shares of Stock under Warrants Weighted- Weighted- Aggregate Outstanding at January 1, 2024 21,696,000 $ 4.38 4.78 $ — Granted — — — — Exercised — — — — Canceled — — — — Outstanding at March 31, 2024 21,696,000 $ 4.38 4.54 $ — Stock Options A summary of the Company’s stock option activity during the three months ended March 31, 2024 was as follows: Shares of Stock under Stock Options Weighted- Weighted- Aggregate Outstanding at January 1, 2024 3,268,000 $ 24.79 7.80 $ 3,000 Granted 51,000 1.18 — Exercised — — — — Canceled (258,000) 25.47 — Outstanding and expected to vest at March 31, 2024 3,061,000 $ 24.34 7.92 $ — Vested and exercisable at March 31, 2024 1,563,000 $ 29.48 7.34 $ — For the three months ended March 31, 2024, the weighted-average grant date fair value of stock options granted was $0.84 per share. Stock-Based Compensation The Company recognized stock-based compensation expense for the periods presented as follows: Three Months Ended 2024 2023 Cost of product revenue $ 81,000 $ 102,000 Cost of service and other revenue 47,000 44,000 Research and development 1,171,000 1,357,000 General and administrative 1,716,000 2,379,000 Total stock-based compensation expense $ 3,015,000 $ 3,882,000 The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants during the periods presented were as follows: Three Months Ended 2024 2023 Risk-free interest rate 4.0 % 4.0 % Expected volatility 80.8 % 72.7 % Expected term (in years) 6.1 6.0 Expected dividend yield 0.0 % 0.0 % Restricted Stock Units and Performance Stock Units The following table summarizes RSU activity during the three months ended March 31, 2024: Stock Units Weighted- Average Grant Date Fair Value per Share Outstanding at January 1, 2024 239,000 $ 16.30 Granted — — Released (48,000) 16.30 Forfeited (7,000) 16.30 Outstanding at March 31, 2024 184,000 $ 16.30 The total fair value of the RSUs that vested during the three months ended March 31, 2024 was $0.8 million, determined as of the date of vesting. The weighted average remaining contractual term for the RSUs is 2.6 years as of March 31, 2024. The following table summarizes PSU activity during the three months ended March 31, 2024: Stock Units Weighted- Average Grant Date Fair Value per Share Outstanding at January 1, 2024 29,000 $ 47.4 Granted — — Released — — Forfeited — — Outstanding at March 31, 2024 29,000 $ 47.4 During the year ended December 31, 2023, the Company reassessed the implicit service period on its performance-based stock units relative to specified revenue targets and determined that the performance conditions were met from an accounting perspective, but subject to certain certifications and approval from the Compensation Committee; therefore, the remaining expense was accelerated as of December 31, 2023. As a result of the accelerated vesting terms, the weighted average remaining contractual term for the PSUs is 0 years as of March 31, 2024. Executive Option Grants and RSUs On February 15, 2023, the compensation committee of the Company’s board of directors granted various executive officers stock options to purchase an aggregate of 0.3 million shares of common stock at an exercise price of $16.30 per share, and RSUs amounting to 0.1 million shares of common stock at a grant date fair value of $16.30 per share, in each case with an effective grant date and vesting commencement date of February 15, 2023 (the “Grant Date”). These stock option grants and RSUs were issued from the 2018 Equity Incentive Plan. The shares subject to the option shall vest monthly over 48 months beginning on the one-month anniversary of the Grant Date, such that the option shall be fully vested and exercisable on the four-year anniversary of the Grant Date. The RSUs shall vest annually over four years beginning one year after the Grant Date, and the balance of the shares vest in a series of three successive equal annual installments measured from the first anniversary of the Grant Date, such that the RSU shall be fully vested on the four-year anniversary of the Grant Date. Registered Direct Offering On April 4, 2024, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a registered direct offering priced at-the-market consistent with the rules of the Nasdaq Stock Market (the “Registered Direct Offering”): (i) an aggregate of 6.5 million shares of the Company’s common stock, (ii) pre-funded warrants to purchase up to an aggregate of 2.2 million shares of common stock (the “Pre-Funded Warrants”), and (iii) warrants to purchase up to 8.7 million shares of common stock (the “Purchase Warrants”). The combined purchase price of each share of common stock and accompanying Warrant is $1.15 per share. The combined purchase price of each Pre-Funded Warrant and accompanying Warrant is $1.14 (equal to the combined purchase price per share of common stock and accompanying Warrant, minus $0.001). The gross proceeds to the Company from the Registered Direct Offering was $10.0 million. The Company received net proceeds of $9.3 million after deducting placement agent fees and other offering expenses of $0.7 million payable by the Company. Each Warrant is exercisable for one share of common stock at an exercise price of $1.02 per share. The Purchase Warrants are immediately exercisable as of the date of issuance of April 8, 2024, and will expire on the five-year anniversary of the date of issuance. The Pre-Funded Warrants are offered in lieu of shares of common stock and provide that the holder may not exercise any portion of a Pre-Funded Warrant to the extent that immediately prior to or after giving effect to such exercise the holder would own more than 4.99% (or, at the election of the holder, 9.99%) of the Company’s outstanding common stock immediately following the consummation of the Registered Direct Offering. Each Pre-Funded Warrant is exercisable for one share of common stock at an exercise price of $0.001 per share. The Pre-Funded Warrants are immediately exercisable and were exercised in full at the time of closing.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has entered into various operating lease agreements and a finance lease agreement, primarily relating to our office, laboratory, and manufacturing space. See Note 11 – Commitments and Contingencies, subsection titled “Leases”, in Part II, Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2023 for information regarding the Company’s lease agreements. The future minimum payments under non-cancellable operating and finance leases as of March 31, 2024, are as follows: Operating Leases Finance Lease Remainder of 2024 $ 2,085,000 $ 248,000 2025 2,608,000 338,000 2026 544,000 346,000 2027 254,000 356,000 2028 — 365,000 Thereafter — 5,230,000 Total future lease payments 5,491,000 6,883,000 Less: imputed interest (546,000) (3,039,000) Total lease liabilities $ 4,945,000 $ 3,844,000 Restructuring In October, 2023, the Company committed to a series of cost saving initiatives including a reduction in force (the “Workforce Reduction”) and, as a result of reducing facility costs and discretionary spending unrelated to headcount and combined with the cost savings from the reduction in force the Company initiated in May 2023, such plan is intended to decrease expenses and maintain a streamlined organization to support its business. In connection with the Company’s restructuring initiatives, the Company entered into a lease termination agreement on February 28, 2024 with the landlord for the facility in Salt Lake City that will result in a one-time termination fee of approximately $0.2 million in the third quarter of 2024. The Company will continue to lease the property through June 2024. The Company accounted for the lease amendment as a lease modification as of March 31, 2024 and recorded a gain of $0.1 million On March 1, 2024, the Board of Directors approved a cost savings plan, including a reduction in force, that it expects to reduce its annualized operating expenses. This cost savings plan is incremental to the 2023 Workforce Reduction. As part of the plan, the Company plans to reduce its overall headcount by approximately 120 employees. The Company expects to substantially complete the reduction in force by June 30, 2024. In addition, Bionano Laboratories will phase out over time the offering of certain testing services related to neurodevelopmental disorders, including autism spectrum disorders, and other disorders of childhood development. As of the issuance date of these unaudited condensed consolidated financial statements we have not yet ceased offering the above-referenced services. The estimates of costs and expenses that the Company expects to incur in connection with the reduction in force are subject to a number of assumptions and actual results may differ materially. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the reduction in force. The workforce reduction resulted in total restructuring charges of approximately $3.9 million , comprised primarily of severance payments and wages for the 60-day notice period in accordance with the California Worked Adjustment and Retraining Notification (WARN) Act. The following is a summary of restructuring charges associated with the reduction in force for the quarter ended March 31, 2024 including severance, impairment, and other exit related costs: Severance $ 3,874,000 Lease related expenses 211,000 Other 547,000 Total restructuring charges including in operating expenses $ 4,632,000 COGS restructuring $ 11,000 Total restructuring charges $ 4,643,000 The following restructuring liability activity was recorded in connection with the reduction in force for the quarter ended March 31, 2024 including within accrued expenses on the unaudited condensed consolidated financial statements: Accrued restructuring as of December 31, 2023 $ 83,000 Restructuring charges incurred during the period 4,643,000 Cash payments — Accrued restructuring as of March 31, 2024 $ 4,726,000 Litigation From time to time, the Company may be subject to potential liabilities under various claims and legal actions that are pending or may be asserted. These matters arise in the ordinary course and conduct of the business. The Company regularly assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in the unaudited condensed consolidated financial statements. An estimated loss contingency is accrued in the unaudited condensed consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on the Company’s assessment, it currently does not have any material loss exposure as it is not a defendant in any claims or legal actions. Contingent Consideration

Investments and Fair Value Meas

Investments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	Investments and Fair Value Measurements The Company holds investment securities that consist of highly liquid, investment grade debt securities. The Company determines the fair value of its investment securities based upon one or more valuations reported by its investment accounting and reporting service provider. The investment service provider values the securities using a hierarchical security pricing model that relies primarily on valuations provided by an industry-recognized valuation service. Such valuations may be based on trade prices in active markets for identical assets or liabilities (Level 1 inputs) or valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets or liabilities, yield curves, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, and broker and dealer quotes, as well as other relevant economic measures. The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023: March 31, 2024 Total Fair Value and Carrying Value on Balance Sheet Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Commercial paper $ 1,198,000 $ — $ 1,198,000 $ — Corporate notes/bonds 6,374,000 — 6,374,000 — U.S. treasuries 4,989,000 — 4,989,000 — Total investments: $ 12,561,000 $ — $ 12,561,000 $ — Money market funds $ 12,041,000 $ 12,041,000 $ — $ — Commercial paper classified as restricted investments 2,646,000 — 2,646,000 — U.S. treasuries classified as restricted investments 21,800,000 — 21,800,000 — Total restricted investments: $ 24,446,000 $ — $ 24,446,000 $ — Liabilities: Contingent consideration $ 10,250,000 $ — $ — $ 10,250,000 Convertible notes payable $ 29,080,000 $ — $ — $ 29,080,000 Purchase option liability $ 5,060,000 $ — $ — $ 5,060,000 December 31, 2023 Total Fair Value and Carrying Value on Balance Sheet Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Corporate notes/bonds 14,360,000 — 14,360,000 — U.S. treasuries 34,463,000 34,463,000 Total investments: $ 48,823,000 $ — $ 48,823,000 $ — Money market funds $ 9,752,000 $ 9,752,000 $ — $ — Commercial paper classified as restricted investments 5,432,000 — 5,432,000 — U.S. treasuries classified as restricted investments 29,685,000 — 29,685,000 — Total restricted investments: $ 35,117,000 $ — $ 35,117,000 $ — Liabilities: Contingent consideration $ 10,890,000 $ — $ — $ 10,890,000 Convertible notes payable $ 69,803,000 $ — $ — $ 69,803,000 Purchase option liability $ 8,534,000 $ — $ — $ 8,534,000 Money Market Funds are classified as cash equivalents on the unaudited condensed consolidated balance sheet. Contingent Consideration Contingent consideration relates to the acquisitions of BioDiscovery and Purigen. The outcome of the milestone consideration for all contingent consideration liabilities is binary, meaning the milestones are either achieved or not achieved, and the only other variable factor is the timing of when the milestones are achieved. The fair value measurement of the contingent consideration liabilities is based on significant inputs not observed in the market (Level 3 inputs). These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect the Company’s assumptions in measuring fair value. The fair value of the BioDiscovery contingent consideration liability is reassessed on a quarterly basis using a probability weighted model. Assumptions used to estimate the fair value of the contingent consideration related to the acquisition of BioDiscovery include the probability of achieving, or changes in timing of certain milestones, and a discount rate of 3%. The Company determined the fair value of the BioDiscovery milestone consideration using a scenario-based technique, as the trigger for payment is event driven. On October 2, 2023, the $10.0 million milestone consideration was paid in full. Any change in fair value of the contingent consideration during the prior years was due to the passage of time. Contingent consideration liabilities related to the Purigen milestones are related to the achievement of two independent milestones with aggregate possible milestone payments totaling $32.0 million. The fair value of the Purigen milestones are reassessed on a quarterly basis using a probability weighted model and a Monte Carlo Simulation. Assumptions used to estimate the fair value of the milestones using a probability weighted model include the probability of achieving independent milestones, anticipated payment date and a discount rate of 13.3% and 13.2% as of March 31, 2024 and December 31, 2023, respectively. The Company determined the fair value of this milestone consideration using a scenario-based technique, as the trigger for payment is event driven. The Company determined the likelihood of each independent milestone and used probability factors ranging from 0% to 49% which were applied to the individual payments over the five year milestone term. The probability factors as of December 31, 2023 ranged from 9% to 49%. For one milestone, a Monte Carlo Simulation was performed to determine the likelihood that the milestone will be achieved to determine the milestone consideration payment. Assumptions include the projected units, revenue discount rates of 8% and 7% and discount rates of 13.3% and 13.2% as of March 31, 2024 and December 31, 2023, respectively. The fair value of the Purigen contingent consideration as of March 31, 2024 and December 31, 2023 were $10.3 million and $10.9 million, respectively. Convertible notes payable and purchase option liability March 31, 2024 December 31, 2023 Expected volatility 82.60 % 80.20 % Risk-free interest rate 5.33 % 4.92 % Term to maturity (years) 0.42 0.80 Debt discount rate 17.10 % 17.11 % Equity discount rate 5.33 % 4.92 % The table above uses a weighted average of assumptions based on the fair value of the Notes. The volatility is based on an analysis of the Company, the risk-free rate is based on US treasury yields, the equity discount rate is based on term-specific US treasury yields, and the debt discount rate is based on the Company’s credit rating. In connection with the Notes, the Purchaser was granted an option which expires on the maturity date of the Notes to purchase up to an additional $25.0 million aggregate principal amount of private placement notes (the “Subsequently Purchased Notes”) and warrants (refer to Note 5 - High Trail Agreement). The estimated fair value of the Purchase Option as of the valuation date was assessed as the difference in the aggregate indicated value of the Subsequently Purchased Notes and the consideration to be paid upon exercising the option which was estimated to be $5.1 million and $8.5 million at March 31, 2024 and December 31, 2023, respectively. The terms used to estimate the fair value of the Subsequently Purchased Notes and warrant underlying the Purchase Option liability (the “Subsequently Purchased Warrants”) are as follows: Subsequently Purchased Notes Subsequently Purchased Warrants March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Expected volatility 81.50 % 80.20 % 75.80 % 66.20 % Risk-free interest rate 4.79 % 4.46 % 4.17 % 3.80 % Term to maturity (years) 1.42 1.50 5.00 5.00 Dividend yield — % — % — % — % Exercise price — — $3.19 $3.19 Debt discount rate 16.50 % 16.60 % — % — % Equity discount rate 4.79 % 4.46 % — % — % Changes in estimated fair value of contingent consideration liability, convertible notes payable and option liability in the three months ended March 31, 2024 are as follows: Contingent Consideration Liability (Level 3 Measurement) Convertible Notes Payable (Level 3 Measurement) Option Liability (Level 3 Measurement) Balance as of January 1, 2024 $ 10,890,000 $ 69,803,000 $ 8,534,000 Issuance of convertible notes payable and option — — — Change in estimated fair value, recorded in selling, general and administrative expenses (640,000) — — Changes in estimated fair value, recorded in other income (expense), net — (4,060,000) (3,474,000) Change in instrument specific credit risk recorded in OCI — — — Conversions to common stock — — — Cash payments or redemptions — (36,663,000) — Balance as of March 31, 2024 $ 10,250,000 $ 29,080,000 $ 5,060,000 Changes in estimated fair value of contingent consideration liability in the three months ended March 31, 2023 is as follows: Contingent Consideration Liability (Level 3 Measurement) Balance as of January 1, 2023 $ 22,352,000 Liability recorded as a result of current period acquisition — Change in estimated fair value, recorded in selling, general and administrative expenses 789,000 Cash payments — Balance as of March 31, 2023 $ 23,141,000 Available for Sale Investments The Company invests its excess cash in U.S. Treasury and agency securities, corporate debt securities, and commercial paper, which are classified as available-for-sale investments. These investments are carried at fair value and are included in the tables below. The Company records an allowance for credit losses when unrealized losses are due to credit-related factors. At each reporting date, the Company evaluates securities with unrealized losses to determine whether such losses, if any, are due to credit-related factors. The Company evaluates, among others, whether the Company has the intention to sell any of these investments and whether it is not more likely than not that the Company will be required to sell any of them before recovery of the amortized cost basis. Neither of these criteria were met in any period presented. The credit ratings of the securities held remain of the highest quality. Moreover, the Company continues to receive payments of interest and principal as they become due, and our expectation is that those payments will continue to be received timely. Based on this evaluation, as of March 31, 2024 and December 31, 2023, the Company determined that unrealized losses of the below securities were primarily attributable to changes in interest rates and non-credit related factors. As such, no allowances for credit losses were recorded during these periods. As of March 31, 2024 and December 31, 2023, the Company held 20 and 15 securities, respectively, which have been in an unrealized loss position for a period of less than 12 months. As of March 31, 2024 and December 31, 2023, the Company held 0 and 2 securities, respectively, which have been in an unrealized loss position for a period of greater than 12 months. Realized gains and losses are calculated using the specific identification method and recorded in other income (expense) in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss. The Company has the ability, if necessary, to liquidate any of its cash equivalents and marketable securities to meet its liquidity needs in the next 12 months. During the quarter ended March 31, 2024, the Company sold 6 of its available for sale securities and received proceeds of $21.5 million. During the quarter ended March 31, 2024, the Company recognized a loss of $0.001 million in other income relating to the maturity of its securities. Amounts are reclassified out of accumulated other comprehensive income into earnings using the specific identification method. Interest receivable as of March 31, 2024 and December 31, 2023 was $0.2 million and $0.3 million, respectively, and is recorded as a component of prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets. As of March 31, 2024, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Commercial paper Less than 1 $ 1,199,000 $ — $ (1,000) $ 1,198,000 Corporate notes/bonds Less than 1 6,374,000 — — 6,374,000 U.S. treasuries Less than 1 4,989,000 — — 4,989,000 Total maturity less than 1 year $ 12,562,000 $ — $ (1,000) $ 12,561,000 As of March 31, 2024, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities listed as restricted investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Commercial paper Less than 1 $ 2,650,000 $ — $ (4,000) $ 2,646,000 U.S. treasuries Less than 1 21,813,000 — (13,000) 21,800,000 Total maturity less than 1 year $ 24,463,000 $ — $ (17,000) $ 24,446,000 As of December 31, 2023, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Corporate notes/bonds Less than 1 $ 14,369,000 $ — $ (9,000) $ 14,360,000 U.S. treasuries Less than 1 34,459,000 4,000 — 34,463,000 Total maturity less than 1 year $ 48,828,000 $ 4,000 $ (9,000) $ 48,823,000 As of December 31, 2023, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities listed as restricted investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Commercial paper Less than 1 $ 5,435,000 $ — $ (3,000) $ 5,432,000 U.S. treasuries Less than 1 29,682,000 5,000 (2,000) 29,685,000 Total maturity less than 1 year $ 35,117,000 $ 5,000 $ (5,000) $ 35,117,000 As of March 31, 2024, the following table summarizes available-for-sale securities in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Commercial paper $ 1,198,000 $ (1,000) $ — $ — $ 1,198,000 $ (1,000) Corporate Notes/Bonds 6,374,000 — — — 6,374,000 — U.S. treasuries 4,989,000 — — — 4,989,000 — Total $ 12,561,000 $ (1,000) $ — $ — $ 12,561,000 $ (1,000) As of March 31, 2024, the following table summarizes available-for-sale securities listed as restricted investments in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Commercial paper $ 2,646,000 $ (4,000) $ — $ — $ 2,646,000 $ (4,000) U.S. treasuries 21,800,000 (13,000) — — 21,800,000 (13,000) Total $ 24,446,000 $ (17,000) $ — $ — $ 24,446,000 $ (17,000) As of December 31, 2023, the following table summarizes available-for-sale securities in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Corporate Notes/Bonds $ 2,362,000 $ (5,000) $ 10,001,000 $ (4,000) $ 12,363,000 $ (9,000) Total $ 2,362,000 $ (5,000) $ 10,001,000 $ (4,000) $ 12,363,000 $ (9,000) As of December 31, 2023, the following table summarizes available-for-sale securities listed as restricted investments in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Commercial paper $ 5,432,000 $ (3,000) $ — $ — $ 5,432,000 $ (3,000) U.S. treasuries 11,789,000 (2,000) — — 11,789,000 (2,000) Total $ 17,221,000 $ (5,000) $ — $ — $ 17,221,000 $ (5,000)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (31,422)	$ (37,124)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business Bionano Genomics, Inc. (collectively, with its consolidated subsidiaries, the “Company”) is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company offers optical genome mapping (“OGM”) solutions for applications across basic, translational and clinical research, and for other applications including bioprocessing. Through its Lineagen, Inc. (doing business as Bionano Laboratories, “Bionano Laboratories”) business, the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery, LLC (“BioDiscovery”) business, the Company also offers platform-agnostic software solution, which integrates next-generation sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. Through our Purigen Biosystems Inc. (“Purigen”) business, we offer nucleic acid extraction and purification solutions using proprietary isotachophoresis (“ITP”) technology. Basis of Presentation
Liquidity and Going Concern	Liquidity and Going Concern The Company has experienced recurring net losses from operations, negative cash flows from operating activities, and accumulated deficit since its inception and expects to continue to incur net losses into the foreseeable future. As of March 31, 2024, the Company had approximately $15.8 million in cash and cash equivalents, $12.6 million in short term investments and $24.8 million in restricted cash and cash equivalents and restricted short-term investments. The amount we are required to hold as restricted cash and cash investments and restricted short-term investments is reduced as the outstanding principal amount of the Notes is paid. The Company has an accumulated deficit of $612.6 million as of March 31, 2024. During the three months ended March 31, 2024, the Company used $28.1 million cash in operations. As of March 31, 2024, the Company reported $29.1 million of Notes as defined in Note 5 (High Trail Agreement) at fair value, which are classified as current. At the holder’s option, as of March 31, 2024, the Company may be required to redeem the $24.3 million outstanding principal amount of the Notes at a redemption price of 115% of the principal amount (the “Repayment Price”) or $28.0 million in 2024. Additionally, the Company will be required to pay a retirement fee to the holder based on amounts redeemed when the outstanding balance is paid in full, which as of March 31, 2024, was estimated at $2.2 million assuming full redemption and no further conversions. Management expects operating losses and negative cash flows to continue for at least the next year as the Company continues to incur costs related to product development and commercialization efforts. Management has prepared cash flows forecasts which indicate that based on the Company’s expected operating losses and negative cash flows, there is substantial doubt about the Company’s ability to continue as a going concern within twelve months after the date that the unaudited condensed consolidated financial statements for the three months ended March 31, 2024, are issued. Management’s ability to continue as a going concern is dependent upon its ability to raise additional funding. Management’s plans to raise additional capital to fulfill its operating and capital requirements for at least 12 months include public or private equity or debt financings. However, the Company may not be able to secure such financing in a timely manner or on favorable terms, if at all. Furthermore, if the Company issues equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders. The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the outcome of this uncertainty.
Restructuring	Restructuring The Company’s restructuring expense consists primarily of actions taken in May and October 2023 and March 2024 in order to reduce costs and improve operations and manufacturing efficiency. Severance-related costs were accounted for as a one-time termination benefit communicated by period end without an additional service component, so the charge represents the total amount expected to be incurred. As a result of reducing facility costs and discretionary spending unrelated to headcount and combined with the cost savings from the reduction in force the Company initiated in May and October 2023 and March 2024, such plans are intended to decrease expenses and maintain a streamlined organization to support its business. In connection with the Company’s restructuring initiatives, the Company entered into a lease termination agreement on February 28, 2024 with the landlord for the facility in Salt Lake City that will result in a one-time termination fee in the third quarter of 2024. The Company will continue to lease the property through June 2024. The Company accounted for the lease amendment as a lease modification as of March 31, 2024. See Note 7 (Commitments and Contingencies) for additional information.
Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets)	Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets) Long-lived assets are reviewed for impairment if indicators of potential impairment exist. If the Company identifies a change in the circumstances related to its long-lived assets, such as property and equipment and intangible assets (other than goodwill), that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset (other than goodwill) is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense. During the quarter ended March 31, 2024, the Company experienced a triggering event as a result of the restructuring initiatives that required an evaluation of our non-OGM Bionano Laboratories asset group for impairment. The Company performed a recoverability test and concluded that the long-lived assets were not recoverable; therefore, the Company measured the impairment loss and fully impaired the intangible assets acquired through the acquisition of Lineagen, consisting of its trade name and customer relationship intangible assets. The Company recognized an impairment loss of $0.4 million as of March 31, 2024. No impairment losses were recorded during the same period in 2023.
Inventories	Inventories
Recent Accounting Pronouncements	Recent Accounting Pronouncements

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Net Loss Per Share Attributable to Common Stockholders	Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive are as follows (in common stock equivalent shares): March 31, March 31, Stock options 3,061,000 3,201,000 Warrants 21,696,000 436,000 Convertible notes payable into common stock 8,498,000 — RSUs 184,000 246,000 PSUs 29,000 29,000 Total 33,468,000 3,912,000

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Recognition	Revenue by Source Three Months Ended March 31, 2024 2023 Instruments $ 1,614,000 $ 1,896,000 Consumables 3,464,000 2,235,000 Software 1,750,000 1,316,000 Total product revenue 6,828,000 5,447,000 Service and other 1,941,000 1,968,000 Total revenue $ 8,769,000 $ 7,415,000 Revenue by Geographic Location Three Months Ended March 31, 2024 2023 $ % $ % Americas $ 4,690,000 53 % $ 3,444,000 47 % EMEA 3,133,000 36 % 2,992,000 40 % Asia Pacific 946,000 11 % 979,000 13 % Total $ 8,769,000 100 % $ 7,415,000 100 %

Balance Sheet Account Details (

Balance Sheet Account Details (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable	March 31, December 31, December 31, Accounts receivable, net: Accounts receivable, trade $ 8,741,000 $ 9,802,000 $ 7,315,000 Allowance for credit losses (428,000) (483,000) (293,000) $ 8,313,000 $ 9,319,000 $ 7,022,000
Schedule of Allowance for Credit Losses	Changes to the allowance for credit losses during the three months ended March 31, 2024 and 2023 were as follows: Allowance for Credit Losses Balance as of January 1, 2023 $ (293,000) Provision for expected credit loss (5,000) Write-offs 48,000 Balance as of March 31, 2023 $ (250,000) Balance as of January 1, 2024 $ (483,000) Provision for expected credit loss — Write-offs 55,000 Balance as of March 31, 2024 $ (428,000)
Schedule of Components of Inventories	The components of inventories are as follows: March 31, December 31, Inventory: Raw materials $ 7,706,000 $ 7,567,000 Work in process 7,969,000 9,790,000 Finished goods 8,127,000 10,245,000 $ 23,802,000 $ 27,602,000 Inventories current $ 19,587,000 $ 22,892,000 Inventories non-current (included in other long-term assets) $ 4,215,000 $ 4,710,000
Schedule of Finite-Lived Intangible Assets	Intangible assets that are subject to amortization consisted of the following for the periods presented: March 31, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade name $ 2,000,000 $ (758,000) $ 1,242,000 $ 2,630,000 $ (1,078,000) $ 1,552,000 Customer relationships 3,200,000 (1,528,000) 1,672,000 4,150,000 (2,002,000) 2,148,000 Developed technology 41,600,000 (12,882,000) 28,718,000 41,600,000 (11,428,000) 30,172,000 Intangibles, net $ 46,800,000 $ (15,168,000) $ 31,632,000 $ 48,380,000 $ (14,508,000) $ 33,872,000
Schedule of Accrued Liabilities	Accrued expenses consist of the following: March 31, December 31, Compensation expenses* $ 8,761,000 $ 5,030,000 Customer deposits 17,000 17,000 Taxes payable 1,034,000 1,099,000 Insurance 234,000 512,000 Professional fees and royalties 312,000 387,000 Warranty liabilities 213,000 391,000 Accrued clinical study fees 57,000 138,000 Other 400,000 515,000 Total $ 11,028,000 $ 8,089,000 *Compensation expenses include restructuring costs of $3.9 million incurred during the quarter ended March 31, 2024. Refer to Note 7 - Commitments and Contingencies.

High Trail Agreement (Tables)

High Trail Agreement (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Convertible Debt	As of March 31, 2024, the Company had aggregate principal outstanding under the Notes of $24.3 million, reported at fair value of $29.1 million (refer to Note 8 (Investments and Fair Value Measurements), for fair value measurements and additional discussion) and broken out as follows: Notes Principal balance, December 31, 2023 $ 61,000,000 Less: Conversions — Partial redemption payments of principal 9,000,000 Redemption payment of principal in connection with modification 27,663,000 Notes principal balance, March 31, 2024 $ 24,337,000
Schedule of Future Aggregate Redemption Repayment	As of March 31, 2024, at the holder’s option, the Company may be required to make future aggregate redemptions at the repayment price of 115% as follows (unless earlier converted per the terms): 2024 $ 27,988,000 Thereafter — Total $ 27,988,000

Stockholders_ Equity and Stoc_2

Stockholders’ Equity and Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Warrant Activity	A summary of the Company’s warrant activity during the three months ended March 31, 2024 was as follows: Shares of Stock under Warrants Weighted- Weighted- Aggregate Outstanding at January 1, 2024 21,696,000 $ 4.38 4.78 $ — Granted — — — — Exercised — — — — Canceled — — — — Outstanding at March 31, 2024 21,696,000 $ 4.38 4.54 $ —
Schedule of Stock Option Activity	A summary of the Company’s stock option activity during the three months ended March 31, 2024 was as follows: Shares of Stock under Stock Options Weighted- Weighted- Aggregate Outstanding at January 1, 2024 3,268,000 $ 24.79 7.80 $ 3,000 Granted 51,000 1.18 — Exercised — — — — Canceled (258,000) 25.47 — Outstanding and expected to vest at March 31, 2024 3,061,000 $ 24.34 7.92 $ — Vested and exercisable at March 31, 2024 1,563,000 $ 29.48 7.34 $ —
Schedule of Recognized Stock-Based Compensation Expense	The Company recognized stock-based compensation expense for the periods presented as follows: Three Months Ended 2024 2023 Cost of product revenue $ 81,000 $ 102,000 Cost of service and other revenue 47,000 44,000 Research and development 1,171,000 1,357,000 General and administrative 1,716,000 2,379,000 Total stock-based compensation expense $ 3,015,000 $ 3,882,000
Schedule of Weighted-Average Assumptions in Black -Scholes Option Pricing Model	The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants during the periods presented were as follows: Three Months Ended 2024 2023 Risk-free interest rate 4.0 % 4.0 % Expected volatility 80.8 % 72.7 % Expected term (in years) 6.1 6.0 Expected dividend yield 0.0 % 0.0 %
Schedule of Restricted Stock Units and Performance Stock Units	The following table summarizes RSU activity during the three months ended March 31, 2024: Stock Units Weighted- Average Grant Date Fair Value per Share Outstanding at January 1, 2024 239,000 $ 16.30 Granted — — Released (48,000) 16.30 Forfeited (7,000) 16.30 Outstanding at March 31, 2024 184,000 $ 16.30 The following table summarizes PSU activity during the three months ended March 31, 2024: Stock Units Weighted- Average Grant Date Fair Value per Share Outstanding at January 1, 2024 29,000 $ 47.4 Granted — — Released — — Forfeited — — Outstanding at March 31, 2024 29,000 $ 47.4

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lessee, Operating Lease, Liability, Maturity	The future minimum payments under non-cancellable operating and finance leases as of March 31, 2024, are as follows: Operating Leases Finance Lease Remainder of 2024 $ 2,085,000 $ 248,000 2025 2,608,000 338,000 2026 544,000 346,000 2027 254,000 356,000 2028 — 365,000 Thereafter — 5,230,000 Total future lease payments 5,491,000 6,883,000 Less: imputed interest (546,000) (3,039,000) Total lease liabilities $ 4,945,000 $ 3,844,000
Schedule of Restructuring Charges	The following is a summary of restructuring charges associated with the reduction in force for the quarter ended March 31, 2024 including severance, impairment, and other exit related costs: Severance $ 3,874,000 Lease related expenses 211,000 Other 547,000 Total restructuring charges including in operating expenses $ 4,632,000 COGS restructuring $ 11,000 Total restructuring charges $ 4,643,000 The following restructuring liability activity was recorded in connection with the reduction in force for the quarter ended March 31, 2024 including within accrued expenses on the unaudited condensed consolidated financial statements: Accrued restructuring as of December 31, 2023 $ 83,000 Restructuring charges incurred during the period 4,643,000 Cash payments — Accrued restructuring as of March 31, 2024 $ 4,726,000

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023: March 31, 2024 Total Fair Value and Carrying Value on Balance Sheet Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Commercial paper $ 1,198,000 $ — $ 1,198,000 $ — Corporate notes/bonds 6,374,000 — 6,374,000 — U.S. treasuries 4,989,000 — 4,989,000 — Total investments: $ 12,561,000 $ — $ 12,561,000 $ — Money market funds $ 12,041,000 $ 12,041,000 $ — $ — Commercial paper classified as restricted investments 2,646,000 — 2,646,000 — U.S. treasuries classified as restricted investments 21,800,000 — 21,800,000 — Total restricted investments: $ 24,446,000 $ — $ 24,446,000 $ — Liabilities: Contingent consideration $ 10,250,000 $ — $ — $ 10,250,000 Convertible notes payable $ 29,080,000 $ — $ — $ 29,080,000 Purchase option liability $ 5,060,000 $ — $ — $ 5,060,000 December 31, 2023 Total Fair Value and Carrying Value on Balance Sheet Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Corporate notes/bonds 14,360,000 — 14,360,000 — U.S. treasuries 34,463,000 34,463,000 Total investments: $ 48,823,000 $ — $ 48,823,000 $ — Money market funds $ 9,752,000 $ 9,752,000 $ — $ — Commercial paper classified as restricted investments 5,432,000 — 5,432,000 — U.S. treasuries classified as restricted investments 29,685,000 — 29,685,000 — Total restricted investments: $ 35,117,000 $ — $ 35,117,000 $ — Liabilities: Contingent consideration $ 10,890,000 $ — $ — $ 10,890,000 Convertible notes payable $ 69,803,000 $ — $ — $ 69,803,000 Purchase option liability $ 8,534,000 $ — $ — $ 8,534,000
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	Changes in estimated fair value of contingent consideration liability, convertible notes payable and option liability in the three months ended March 31, 2024 are as follows: Contingent Consideration Liability (Level 3 Measurement) Convertible Notes Payable (Level 3 Measurement) Option Liability (Level 3 Measurement) Balance as of January 1, 2024 $ 10,890,000 $ 69,803,000 $ 8,534,000 Issuance of convertible notes payable and option — — — Change in estimated fair value, recorded in selling, general and administrative expenses (640,000) — — Changes in estimated fair value, recorded in other income (expense), net — (4,060,000) (3,474,000) Change in instrument specific credit risk recorded in OCI — — — Conversions to common stock — — — Cash payments or redemptions — (36,663,000) — Balance as of March 31, 2024 $ 10,250,000 $ 29,080,000 $ 5,060,000 Changes in estimated fair value of contingent consideration liability in the three months ended March 31, 2023 is as follows: Contingent Consideration Liability (Level 3 Measurement) Balance as of January 1, 2023 $ 22,352,000 Liability recorded as a result of current period acquisition — Change in estimated fair value, recorded in selling, general and administrative expenses 789,000 Cash payments — Balance as of March 31, 2023 $ 23,141,000
Schedule of Marketable Securities	As of March 31, 2024, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Commercial paper Less than 1 $ 1,199,000 $ — $ (1,000) $ 1,198,000 Corporate notes/bonds Less than 1 6,374,000 — — 6,374,000 U.S. treasuries Less than 1 4,989,000 — — 4,989,000 Total maturity less than 1 year $ 12,562,000 $ — $ (1,000) $ 12,561,000 As of March 31, 2024, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities listed as restricted investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Commercial paper Less than 1 $ 2,650,000 $ — $ (4,000) $ 2,646,000 U.S. treasuries Less than 1 21,813,000 — (13,000) 21,800,000 Total maturity less than 1 year $ 24,463,000 $ — $ (17,000) $ 24,446,000 As of December 31, 2023, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Corporate notes/bonds Less than 1 $ 14,369,000 $ — $ (9,000) $ 14,360,000 U.S. treasuries Less than 1 34,459,000 4,000 — 34,463,000 Total maturity less than 1 year $ 48,828,000 $ 4,000 $ (9,000) $ 48,823,000 As of December 31, 2023, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities listed as restricted investments: Remaining Contractual Maturity (in years) Amortized Cost Unrealized Gains Unrealized Losses Aggregate Estimated Fair Value Commercial paper Less than 1 $ 5,435,000 $ — $ (3,000) $ 5,432,000 U.S. treasuries Less than 1 29,682,000 5,000 (2,000) 29,685,000 Total maturity less than 1 year $ 35,117,000 $ 5,000 $ (5,000) $ 35,117,000 As of March 31, 2024, the following table summarizes available-for-sale securities in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Commercial paper $ 1,198,000 $ (1,000) $ — $ — $ 1,198,000 $ (1,000) Corporate Notes/Bonds 6,374,000 — — — 6,374,000 — U.S. treasuries 4,989,000 — — — 4,989,000 — Total $ 12,561,000 $ (1,000) $ — $ — $ 12,561,000 $ (1,000) As of March 31, 2024, the following table summarizes available-for-sale securities listed as restricted investments in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Commercial paper $ 2,646,000 $ (4,000) $ — $ — $ 2,646,000 $ (4,000) U.S. treasuries 21,800,000 (13,000) — — 21,800,000 (13,000) Total $ 24,446,000 $ (17,000) $ — $ — $ 24,446,000 $ (17,000) As of December 31, 2023, the following table summarizes available-for-sale securities in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Corporate Notes/Bonds $ 2,362,000 $ (5,000) $ 10,001,000 $ (4,000) $ 12,363,000 $ (9,000) Total $ 2,362,000 $ (5,000) $ 10,001,000 $ (4,000) $ 12,363,000 $ (9,000) As of December 31, 2023, the following table summarizes available-for-sale securities listed as restricted investments in an unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Commercial paper $ 5,432,000 $ (3,000) $ — $ — $ 5,432,000 $ (3,000) U.S. treasuries 11,789,000 (2,000) — — 11,789,000 (2,000) Total $ 17,221,000 $ (5,000) $ — $ — $ 17,221,000 $ (5,000)
Fair Value Measurement Inputs and Valuation Techniques	Convertible notes payable and purchase option liability March 31, 2024 December 31, 2023 Expected volatility 82.60 % 80.20 % Risk-free interest rate 5.33 % 4.92 % Term to maturity (years) 0.42 0.80 Debt discount rate 17.10 % 17.11 % Equity discount rate 5.33 % 4.92 % The terms used to estimate the fair value of the Subsequently Purchased Notes and warrant underlying the Purchase Option liability (the “Subsequently Purchased Warrants”) are as follows: Subsequently Purchased Notes Subsequently Purchased Warrants March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Expected volatility 81.50 % 80.20 % 75.80 % 66.20 % Risk-free interest rate 4.79 % 4.46 % 4.17 % 3.80 % Term to maturity (years) 1.42 1.50 5.00 5.00 Dividend yield — % — % — % — % Exercise price — — $3.19 $3.19 Debt discount rate 16.50 % 16.60 % — % — % Equity discount rate 4.79 % 4.46 % — % — %

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details)			3 Months Ended
	Mar. 01, 2024 employee	Aug. 04, 2023	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Jan. 01, 2024	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reverse stock split, conversion ratio		0.1
Cash and cash equivalents			$ 15,759,000	$ 4,104,000		$ 17,948,000
Short term investments			12,561,000			48,823,000
Restricted cash and cash equivalents and restricted short-term investments			24,800,000
Accumulated deficit			612,630,000			581,208,000
Net cash used in operating activities			28,131,000	32,413,000
Convertible notes payable (at fair value)			29,080,000			69,803,000
Impairment of intangible assets			448,000	$ 0
Inventories non-current (included in other long-term assets)			4,215,000			$ 4,710,000
Depreciable lives | Saphyr and Stratys Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Property and equipment useful life					7 years	5 years
Reduction in depreciation expense			(500,000)
Workforce Reduction
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Restructuring, expected number of positions eliminated | employee	120
Convertible notes payable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes payable (at fair value)			29,100,000
Redemption, outstanding amount			$ 24,300,000
Redemption price, percentage of principal amount redeemed (as a percent)			115%
Redemption amount, remainder of fiscal year			$ 28,000,000
Retirement fee			$ 2,200,000

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	33,468	3,912
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	3,061	3,201
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	21,696	436
Convertible notes payable into common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	8,498	0
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	184	246
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	29	29

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Source and Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 8,769	$ 7,415
Americas
Disaggregation of Revenue [Line Items]
Revenue	4,690	3,444
EMEA
Disaggregation of Revenue [Line Items]
Revenue	3,133	2,992
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	$ 946	$ 979
Revenue from Contract with Customer | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	100%	100%
Revenue from Contract with Customer | Geographic Concentration Risk | Americas
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	53%	47%
Revenue from Contract with Customer | Geographic Concentration Risk | EMEA
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	36%	40%
Revenue from Contract with Customer | Geographic Concentration Risk | Asia Pacific
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	11%	13%
Product revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 6,828	$ 5,447
Instruments
Disaggregation of Revenue [Line Items]
Revenue	1,614	1,896
Consumables
Disaggregation of Revenue [Line Items]
Revenue	3,464	2,235
Software
Disaggregation of Revenue [Line Items]
Revenue	1,750	1,316
Service and other
Disaggregation of Revenue [Line Items]
Revenue	$ 1,941	$ 1,968

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - Revenue from Contract with Customer - Geographic Concentration Risk	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	100%	100%
United States
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	42.60%	41.20%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	$ 1.2
Revenue recognized excluding deferred amounts	$ 0.6	$ 0.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation (as a percent)	78.50%
Timing of satisfaction of remaining performance obligation	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation (as a percent)	16.10%
Timing of satisfaction of remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation (as a percent)	5.40%
Timing of satisfaction of remaining performance obligation	1 year

Balance Sheet Account Details -

Balance Sheet Account Details - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, trade	$ 8,741	$ 9,802		$ 7,315
Allowance for credit losses	(428)	(483)	$ (250)	(293)
Accounts receivable, net	$ 8,313	$ 9,319		$ 7,022

Balance Sheet Account Details_2

Balance Sheet Account Details - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (483)	$ (293)
Provision for expected credit loss	0	(5)
Write-offs	55	48
Ending balance	$ (428)	$ (250)

Balance Sheet Account Details_3

Balance Sheet Account Details - Schedule of Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 7,706	$ 7,567
Work in process	7,969	9,790
Finished goods	8,127	10,245
Inventory, net	23,802	27,602
Inventories current	19,587	22,892
Inventories non-current (included in other long-term assets)	$ 4,215	$ 4,710

Balance Sheet Account Details_4

Balance Sheet Account Details - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 46,800	$ 48,380
Accumulated Amortization	(15,168)	(14,508)
Net Carrying Amount	31,632	33,872
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,000	2,630
Accumulated Amortization	(758)	(1,078)
Net Carrying Amount	1,242	1,552
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,200	4,150
Accumulated Amortization	(1,528)	(2,002)
Net Carrying Amount	1,672	2,148
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,600	41,600
Accumulated Amortization	(12,882)	(11,428)
Net Carrying Amount	$ 28,718	$ 30,172

Balance Sheet Account Details_5

Balance Sheet Account Details - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Internet Domain Names
Finite-Lived Intangible Assets [Line Items]
Intangible assets not subject to amortization	$ 0.1	$ 0.1

Balance Sheet Account Details_6

Balance Sheet Account Details - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Compensation expenses	$ 8,761		$ 5,030
Customer deposits	17		17
Taxes payable	1,034		1,099
Insurance	234		512
Professional fees and royalties	312		387
Warranty liabilities	213		391
Accrued clinical study fees	57		138
Other	400		515
Accrued expenses	11,028		$ 8,089
Restructuring costs	4,632	$ 0
Workforce Reduction
Finite-Lived Intangible Assets [Line Items]
Restructuring costs	$ 3,900

High Trail Agreement - Narrativ

High Trail Agreement - Narrative (Details) - USD ($)			1 Months Ended	3 Months Ended
	May 01, 2024	Feb. 27, 2024	Feb. 01, 2024	Mar. 31, 2024	Feb. 26, 2024	Dec. 31, 2023
Fair Value, Recurring | Convertible notes payable
Debt Instrument [Line Items]
Estimated fair value				$ 29,080,000		$ 69,803,000
Convertible notes payable
Debt Instrument [Line Items]
Fair value of debt				24,337,000		$ 61,000,000
Partial redemption payments of principal			$ 9,000,000	$ 9,000,000
Redemption, repayment amount			$ 10,400,000
Redemption price, percentage of principal amount redeemed (as a percent)				115%
Retirement fee				$ 2,200,000
Redemption, outstanding amount				24,300,000
Redemption amount				$ 27,988,000
Convertible notes payable | Subsequent Event
Debt Instrument [Line Items]
Partial redemption payments of principal	$ 9,000,000
Redemption, repayment amount	$ 10,400,000
Convertible notes payable | Senior Secured Convertible Notes Due 2025
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed (as a percent)		115%
Covenant, minimum cash balance					$ 50,000,000
Covenant, restricted cash, balance					$ 35,000,000
Redemption, remaining principal amount		$ 700,000
Redemption net, amount		12,300,000
Redemption amount		$ 10,700,000
Convertible notes payable | Senior Secured Convertible Notes Due 2025 | Private Placement
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed (as a percent)		115%
Retirement fee		$ 3,200,000
Redemption, outstanding amount		17,000,000
Redemption net, amount		19,600,000
Retirement fee, increase, amount		$ 1,000,000

High Trail Agreement - Schedule

High Trail Agreement - Schedule of Convertible Debt (Details) - Convertible notes payable - USD ($)	1 Months Ended	3 Months Ended
	Feb. 01, 2024	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Fair value of debt		$ 24,337,000	$ 61,000,000
Conversions		0
Partial redemption payments of principal	$ 9,000,000	9,000,000
Redemption payment of principal in connection with modification		$ 27,663,000

High Trail Agreement - Schedu_2

High Trail Agreement - Schedule of Future Aggregate Redemption (Details) - Convertible notes payable $ in Thousands	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Redemption amount	$ 27,988
2024
Debt Instrument [Line Items]
Redemption amount	27,988
Thereafter
Debt Instrument [Line Items]
Redemption amount	$ 0

Stockholders_ Equity and Stoc_3

Stockholders’ Equity and Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands						3 Months Ended
	Apr. 04, 2024 USD ($) $ / shares shares	Aug. 04, 2023 $ / shares	Mar. 09, 2023 USD ($)	Feb. 15, 2023 installment $ / shares shares	Mar. 23, 2021 USD ($)	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 $ / shares
Class of Stock [Line Items]
Reverse stock split, conversion ratio		0.1
Reverse stock split, multiplier, per share (in dollars per share)		$ 5.90
Number of shares issued (in shares) | shares						11,800,000
Average share price (in dollars per share)						$ 1.31
Net proceeds | $						$ 15,400
Offering costs | $						$ 400
Weighted-average grant date fair value (in dollars per share)						$ 0.84
Granted (in shares) | shares						51,000
Granted (in dollars per share)						$ 1.18
Common stock, par value (in dollars per share)						$ 0.0001		$ 0.0001
Offering expenses on sale of common stock | $						$ 386	$ 380
Exercise price (in dollars per share)						$ 4.38		$ 4.38
Subsequent Event
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001
Registered Direct Offering | Subsequent Event
Class of Stock [Line Items]
Sale of stock, consideration received per transaction | $	$ 10,000
Sale of stock, consideration received on transaction | $	9,300
Offering expenses on sale of common stock | $	$ 700
Registered Direct Offering | Prefunded Warrant | Subsequent Event
Class of Stock [Line Items]
Ownership percentage limit (as a percent)	4.99%
Ownership percentage limit, election of holder (as a percent)	9.99%
Registered Direct Offering | Common Stock | Subsequent Event
Class of Stock [Line Items]
Number of shares issued (in shares) | shares	6,500,000
Registered Direct Offering | Common Stock | Prefunded Warrant | Subsequent Event
Class of Stock [Line Items]
Warrants to purchase shares (in shares) | shares	2,200,000
Sale of stock, price per share (in dollars per share)	$ 1.14
Class of warrant or right, number of securities called by each warrant or right (in shares) | shares	1
Exercise price (in dollars per share)	$ 0.001
Registered Direct Offering | Common Stock | Purchase Warrant | Subsequent Event
Class of Stock [Line Items]
Warrants to purchase shares (in shares) | shares	8,700,000
Sale of stock, price per share (in dollars per share)	$ 1.15
Class of warrant or right, number of securities called by each warrant or right (in shares) | shares	1
Exercise price (in dollars per share)	$ 1.02
Term of warrant (in years)	5 years
Executive Officer
Class of Stock [Line Items]
Granted (in shares) | shares				300,000
Granted (in dollars per share)				$ 16.30
RSUs
Class of Stock [Line Items]
Vested in period | $						$ 800
Weighted average remaining contractual term (in years)						2 years 7 months 6 days
Vesting period				4 years
RSUs | Executive Officer
Class of Stock [Line Items]
Granted (in shares) | shares				100,000
Number of successive annual installments | installment				3
PSUs
Class of Stock [Line Items]
Weighted average remaining contractual term (in years)						0 years
Option | Executive Officer
Class of Stock [Line Items]
Vesting period				48 months
Cowen
Class of Stock [Line Items]
Aggregate offering price | $			$ 200,000		$ 350,000
Commission fee (as a percent)					3%

Stockholders_ Equity and Stoc_4

Stockholders’ Equity and Stock-Based Compensation - Warrant Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Shares of Stock under Warrants
Beginning balance (in shares)	21,696
Granted (in shares)	0
Exercised (in shares)	0
Canceled (in shares)	0
Ending balance (in shares)	21,696	21,696
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 4.38
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Canceled (in dollars per share)	0
Ending balance (in dollars per share)	$ 4.38	$ 4.38
Weighted- Average Remaining Contractual Term
Outstanding (in years)	4 years 6 months 14 days	4 years 9 months 10 days
Aggregate Intrinsic Value
Beginning balance	$ 0
Exercised	0
Ending balance	$ 0	$ 0

Stockholders_ Equity and Stoc_5

Stockholders’ Equity and Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Shares of Stock under Stock Options
Beginning balance (in shares)	3,268
Granted (in shares)	51
Exercised (in shares)	0
Canceled (in shares)	(258)
Ending balance (in shares)	3,061	3,268
Vested and exercisable (in shares)	1,563
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 24.79
Granted (in dollars per share)	1.18
Exercised (in dollars per share)	0
Canceled (in dollars per share)	25.47
Ending balance (in dollars per share)	24.34	$ 24.79
Vested and exercisable (in dollars per share)	$ 29.48
Weighted- Average Remaining Contractual Term
Outstanding and expected to vest (in years)	7 years 11 months 1 day	7 years 9 months 18 days
Vested and exercisable (in years)	7 years 4 months 2 days
Aggregate Intrinsic Value
Beginning balance	$ 3
Exercised	0
Ending balance	0	$ 3
Vested and exercisable	$ 0

Stockholders_ Equity and Stoc_6

Stockholders’ Equity and Stock-Based Compensation - Recognized Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,015	$ 3,882
Cost of product revenue, services and other revenue | Product revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	81	102
Cost of product revenue, services and other revenue | Service and other revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	47	44
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,171	1,357
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,716	$ 2,379

Stockholders_ Equity and Stoc_7

Stockholders’ Equity and Stock-Based Compensation - Assumptions (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Risk-free interest rate	4%	4%
Expected volatility	80.80%	72.70%
Expected term (in years)	6 years 1 month 6 days	6 years
Expected dividend yield	0%	0%

Stockholders_ Equity and Stoc_8

Stockholders’ Equity and Stock-Based Compensation - Restricted Stock and Performance Stock Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
RSUs
Stock Units
Beginning balance (in shares) | shares	239
Granted (in shares) | shares	0
Released (in shares) | shares	(48)
Forfeited (in shares) | shares	(7)
Ending balance (in shares) | shares	184
Weighted- Average Grant Date Fair Value per Share
Beginning balance (in dollars per share) | $ / shares	$ 16.30
Granted (in dollars per share) | $ / shares	0
Released (in dollars per share) | $ / shares	16.30
Forfeited (in dollars per share) | $ / shares	16.30
Ending balance (in dollars per share) | $ / shares	$ 16.30
PSUs
Stock Units
Beginning balance (in shares) | shares	29
Granted (in shares) | shares	0
Released (in shares) | shares	0
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	29
Weighted- Average Grant Date Fair Value per Share
Beginning balance (in dollars per share) | $ / shares	$ 47.4
Granted (in dollars per share) | $ / shares	0
Released (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 47.4

Commitments and Contingencies -

Commitments and Contingencies - Summary of Undiscounted Future Non-Cancellable Lease Payments Under Leases (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Operating Leases
Remainder of 2024	$ 2,085
2025	2,608
2026	544
2027	254
2028	0
Thereafter	0
Total future lease payments	5,491
Less: imputed interest	(546)
Total lease liabilities	4,945
Finance Lease
Remainder of 2024	248
2025	338
2026	346
2027	356
2028	365
Thereafter	5,230
Total future lease payments	6,883
Less: imputed interest	(3,039)
Total lease liabilities	$ 3,844

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Thousands		3 Months Ended
	Mar. 01, 2024 employee	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Long-Term Purchase Commitment [Line Items]
Restructuring costs			$ 4,632	$ 0
Gain on modification of lease			73	$ 0
Workforce Reduction
Long-Term Purchase Commitment [Line Items]
Restructuring costs			3,900
Gain on modification of lease			$ 100
Restructuring, expected number of positions eliminated | employee	120
Workforce Reduction | Forecast
Long-Term Purchase Commitment [Line Items]
Restructuring costs		$ 200

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]
COGS restructuring	$ 5,945	$ 5,345
Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Severance	3,874
Lease related expenses	211
Other	547
Total restructuring charges including in operating expenses	4,632
COGS restructuring	11
Total restructuring charges	$ 4,643

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Accrued Restructuring Liabilities (Details) - Workforce Reduction $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Accrued restructuring as of December 31, 2023	$ 83
Restructuring charges incurred during the period	4,643
Cash payments	0
Accrued restructuring as of March 31, 2024	$ 4,726

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Purchase option liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	$ 5,100	$ 8,500
Level 3 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds	0	0
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	12,561	48,823
Fair Value, Recurring | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds	12,041	9,752
Fair Value, Recurring | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	24,446	35,117
Fair Value, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	1,198
Fair Value, Recurring | Commercial paper | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	2,646	5,432
Fair Value, Recurring | Corporate notes/bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	6,374	14,360
Fair Value, Recurring | U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	4,989	34,463
Fair Value, Recurring | U.S. treasuries | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	21,800	29,685
Fair Value, Recurring | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	10,250	10,890
Fair Value, Recurring | Convertible notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	29,080	69,803
Fair Value, Recurring | Purchase option liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	5,060	8,534
Fair Value, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 1 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds	12,041	9,752
Fair Value, Recurring | Level 1 | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0
Fair Value, Recurring | Level 1 | Commercial paper | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 1 | Corporate notes/bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 1 | U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0
Fair Value, Recurring | Level 1 | U.S. treasuries | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 1 | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	0	0
Fair Value, Recurring | Level 1 | Convertible notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	0	0
Fair Value, Recurring | Level 1 | Purchase option liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	0	0
Fair Value, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	12,561	48,823
Fair Value, Recurring | Level 2 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds	0	0
Fair Value, Recurring | Level 2 | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	24,446	35,117
Fair Value, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	1,198
Fair Value, Recurring | Level 2 | Commercial paper | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	2,646	5,432
Fair Value, Recurring | Level 2 | Corporate notes/bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	6,374	14,360
Fair Value, Recurring | Level 2 | U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	4,989	34,463
Fair Value, Recurring | Level 2 | U.S. treasuries | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	21,800	29,685
Fair Value, Recurring | Level 2 | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	0	0
Fair Value, Recurring | Level 2 | Convertible notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	0	0
Fair Value, Recurring | Level 2 | Purchase option liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	0	0
Fair Value, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 3 | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0
Fair Value, Recurring | Level 3 | Commercial paper | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 3 | Corporate notes/bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 3 | U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0
Fair Value, Recurring | Level 3 | U.S. treasuries | Restricted Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring | Level 3 | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	10,250	10,890
Fair Value, Recurring | Level 3 | Convertible notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	29,080	69,803
Fair Value, Recurring | Level 3 | Purchase option liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability	$ 5,060	$ 8,534

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Narrative (Details)		3 Months Ended
	Oct. 02, 2023 USD ($)	Mar. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of securities in an unrealized loss position, less than 12 months | security		20	15
Number of securities in an unrealized loss position, greater than 12 months | security		0	2
Number of securities sold | security		6
Sale and maturity of available for sale securities		$ 21,500,000
Loss on sale of available for sale securities		1,000
Interest receivable		200,000	$ 300,000
Convertible notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt		24,337,000	61,000,000
Senior Secured Convertible Notes Due 2025 | Convertible notes payable | Subsequently Purchased Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt		25,000,000
Purchase option liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value		$ 5,100,000	8,500,000
BioDiscovery | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Payment for contingent consideration liability	$ 10,000,000
BioDiscovery | Contingent consideration | Measurement Input, Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input (as a percent)		0.03
Purigen | Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consideration milestone payment, maximum		$ 32,000,000
Consideration milestone, term (in years)		5 years
Contingent consideration liability		$ 10,300,000	$ 10,900,000
Purigen | Contingent consideration | Measurement Input, Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input (as a percent)		0.133	0.132
Purigen | Contingent consideration | Measurement Input, Probability Factor | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input (as a percent)		0	0.09
Purigen | Contingent consideration | Measurement Input, Probability Factor | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input (as a percent)		0.49	0.49
Purigen | Contingent consideration | Measurement Input, Revenue Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input (as a percent)		0.08	0.07

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Estimated Fair Value Assumption (Details) - Convertible notes payable	Mar. 31, 2024 yr USD ($)	Dec. 31, 2023 USD ($) yr
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.8260	0.8020
Expected volatility | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.7580	0.6620
Expected volatility | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.8150	0.8020
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0533	0.0492
Risk-free interest rate | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0417	0.0380
Risk-free interest rate | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0479	0.0446
Term to maturity (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.42	0.80
Term to maturity (years) | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	5	5
Term to maturity (years) | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.42	1.50
Dividend yield | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Dividend yield | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Exercise price | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | $	3.19	3.19
Exercise price | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | $	0	0
Debt discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1710	0.1711
Debt discount rate | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Debt discount rate | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1650	0.1660
Equity discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0533	0.0492
Equity discount rate | Subsequently Purchased Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Equity discount rate | Subsequently Purchased Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0479	0.0446

Investments and Fair Value Me_6

Investments and Fair Value Measurements - Contingent Consideration Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 10,890	$ 22,352
Liability recorded as a result of current period acquisition		0
Change in estimated fair value		789
Cash payments or redemptions		0
Ending balance	10,250	$ 23,141
Contingent consideration | Selling, General and Administrative Expenses
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in estimated fair value	(640)
Convertible notes payable
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	69,803
Cash payments or redemptions	(36,663)
Ending balance	29,080
Convertible notes payable | Other Nonoperating Income (Expense)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in estimated fair value	(4,060)
Purchase option liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	8,534
Ending balance	5,060
Purchase option liability | Other Nonoperating Income (Expense)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in estimated fair value	$ (3,474)

Investments and Fair Value Me_7

Investments and Fair Value Measurements - Amortized Cost and Unrealized Gains (Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Amortized Cost
Less than 1 year	$ 12,562	$ 48,828
Unrealized Gains
Less than 1 year	0	4
Unrealized Losses
Less than 1 year	(1)	(9)
Aggregate Estimated Fair Value
Less than 1 year	12,561	48,823
Restricted Investments
Amortized Cost
Less than 1 year	24,463	35,117
Unrealized Gains
Less than 1 year	0	5
Unrealized Losses
Less than 1 year	(17)	(5)
Aggregate Estimated Fair Value
Less than 1 year	24,446	35,117
Commercial paper
Amortized Cost
Less than 1 year	1,199	14,369
Unrealized Gains
Less than 1 year	0	0
Unrealized Losses
Less than 1 year	(1)	(9)
Aggregate Estimated Fair Value
Less than 1 year	1,198	14,360
Commercial paper | Restricted Investments
Amortized Cost
Less than 1 year	2,650	5,435
Unrealized Gains
Less than 1 year	0	0
Unrealized Losses
Less than 1 year	(4)	(3)
Aggregate Estimated Fair Value
Less than 1 year	2,646	5,432
Corporate notes/bonds
Amortized Cost
Less than 1 year	6,374
Unrealized Gains
Less than 1 year	0
Unrealized Losses
Less than 1 year	0
Aggregate Estimated Fair Value
Less than 1 year	6,374
U.S. treasuries
Amortized Cost
Less than 1 year	4,989	34,459
Unrealized Gains
Less than 1 year	0	4
Unrealized Losses
Less than 1 year	0	0
Aggregate Estimated Fair Value
Less than 1 year	4,989	34,463
U.S. treasuries | Restricted Investments
Amortized Cost
Less than 1 year	21,813	29,682
Unrealized Gains
Less than 1 year	0	5
Unrealized Losses
Less than 1 year	(13)	(2)
Aggregate Estimated Fair Value
Less than 1 year	$ 21,800	$ 29,685

Investments and Fair Value Me_8

Investments and Fair Value Measurements - Unrealized Losses Positions (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value
Less Than 12 Months, Fair Value	$ 12,561	$ 2,362
12 Months or Greater, Fair Value	0	10,001
Fair Value	12,561	12,363
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	(1)	(5)
12 Months or Greater, Gross Unrealized Loss	0	(4)
Gross Unrealized Loss	(1)	(9)
Restricted Investments
Fair Value
Less Than 12 Months, Fair Value	24,446	17,221
12 Months or Greater, Fair Value	0	0
Fair Value	24,446	17,221
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	(17)	(5)
12 Months or Greater, Gross Unrealized Loss	0	0
Gross Unrealized Loss	(17)	(5)
Commercial paper
Fair Value
Less Than 12 Months, Fair Value	1,198
12 Months or Greater, Fair Value	0
Fair Value	1,198
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	(1)
12 Months or Greater, Gross Unrealized Loss	0
Gross Unrealized Loss	(1)
Commercial paper | Restricted Investments
Fair Value
Less Than 12 Months, Fair Value	2,646	5,432
12 Months or Greater, Fair Value	0	0
Fair Value	2,646	5,432
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	(4)	(3)
12 Months or Greater, Gross Unrealized Loss	0	0
Gross Unrealized Loss	(4)	(3)
Corporate notes/bonds
Fair Value
Less Than 12 Months, Fair Value	6,374	2,362
12 Months or Greater, Fair Value	0	10,001
Fair Value	6,374	12,363
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	0	(5)
12 Months or Greater, Gross Unrealized Loss	0	(4)
Gross Unrealized Loss	0	(9)
U.S. treasuries
Fair Value
Less Than 12 Months, Fair Value	4,989
12 Months or Greater, Fair Value	0
Fair Value	4,989
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	0
12 Months or Greater, Gross Unrealized Loss	0
Gross Unrealized Loss	0
U.S. treasuries | Restricted Investments
Fair Value
Less Than 12 Months, Fair Value	21,800	11,789
12 Months or Greater, Fair Value	0	0
Fair Value	21,800	11,789
Gross Unrealized Loss
Less than 12 months, Gross Unrealized Loss	(13)	(2)
12 Months or Greater, Gross Unrealized Loss	0	0
Gross Unrealized Loss	$ (13)	$ (2)