Outset Medical (OM) 10-Q 3 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 26, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Entity File Number	001-39513
Entity Registrant Name	Outset Medical, Inc.
Entity Central Index Key	0001484612
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0514392
Entity Address, Address Line One	3052 Orchard Dr.
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	669
Local Phone Number	231-8200
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	OM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		49,228,078

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 36,386	$ 73,222
Short-term investments	212,827	214,280
Accounts receivable, net	34,314	28,070
Inventories	47,733	51,476
Prepaid expenses and other current assets	6,015	6,597
Total current assets	337,275	373,645
Restricted cash	3,311	3,311
Property and equipment, net	15,189	15,876
Operating lease right-of-use assets	5,823	6,117
Other assets	1,067	1,166
Total assets	362,665	400,115
Current liabilities:
Accounts payable	1,988	603
Accrued compensation and related benefits	14,419	21,519
Accrued expenses and other current liabilities	13,893	16,227
Accrued warranty liability	3,569	3,620
Deferred revenue, current	9,038	8,662
Operating lease liabilities, current	1,361	1,318
Total current liabilities	44,268	51,949
Accrued interest	295	113
Deferred revenue	116	151
Operating lease liabilities	5,220	5,576
Term loan	96,480	96,336
Total liabilities	146,379	154,125
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000 shares authorized, and no shares issued and outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock, $0.001 par value; 300,000 shares authorized as of March 31, 2023 and December 31, 2022; 49,216 and 48,465 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	49	48
Additional paid-in capital	1,049,271	1,035,456
Accumulated other comprehensive loss	(113)	(564)
Accumulated deficit	(832,921)	(788,950)
Total stockholders' equity	216,286	245,990
Total liabilities and stockholders' equity	$ 362,665	$ 400,115

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	49,216,000	48,465,000
Common stock, shares outstanding	49,216,000	48,465,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Revenue	$ 33,467	$ 30,550
Cost of revenue:
Cost of revenue	27,039	26,108
Gross profit	6,428	4,442
Operating expenses:
Research and development	13,793	10,831
Sales and marketing	24,333	20,377
General and administrative	11,787	9,709
Total operating expenses	49,913	40,917
Loss from operations	(43,485)	(36,475)
Interest income and other income, net	2,648	120
Interest expense	(2,942)	(422)
Loss before provision for income taxes	(43,779)	(36,777)
Provision for income taxes	192	115
Net loss	$ (43,971)	$ (36,892)
Net loss per share, basic	$ (0.90)	$ (0.78)
Net loss per share,diluted	$ (0.90)	$ (0.78)
Shares used in computing net loss per share, basic	48,783	47,487
Shares used in computing net loss per share, diluted	48,783	47,487
Product Revenue
Revenue:
Revenue	$ 27,779	$ 25,664
Cost of revenue:
Cost of revenue	20,817	23,110
Service and Other Revenue
Revenue:
Revenue	5,688	4,886
Cost of revenue:
Cost of revenue	$ 6,222	$ 2,998

Condensed Statements of Compreh

Condensed Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (43,971)	$ (36,892)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities	451	(465)
Comprehensive loss	$ (43,520)	$ (37,357)

Condensed Statement of Stockhol

Condensed Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance at Dec. 31, 2021	$ 374,081	$ 47	$ 1,000,212	$ (184)	$ (625,994)
Beginning Balance (shares) at Dec. 31, 2021		47,241
Issuance of common stock through employee stock purchase plan	2,063		2,063
Issuance of common stock through employee stock purchase plan (shares)		55
Issuance of common stock for settlement of RSUs (shares)		88
Stock option exercises	1,660	$ 1	1,659
Stock option exercises (shares)		328
Stock-based compensation expense	5,006		5,006
Unrealized loss on available-for-sale securities	(465)			(465)
Net loss	(36,892)				(36,892)
Ending Balance at Mar. 31, 2022	345,453	$ 48	1,008,940	(649)	(662,886)
Ending Balance (shares) at Mar. 31, 2022		47,712
Beginning Balance at Dec. 31, 2022	245,990	$ 48	1,035,456	(564)	(788,950)
Beginning Balance (shares) at Dec. 31, 2022		48,465
Issuance of common stock through employee stock purchase plan	4,594	$ 1	4,593
Issuance of common stock through employee stock purchase plan (shares)		307
Issuance of common stock for settlement of RSUs (shares)		282
Stock option exercises	684		684
Stock option exercises (shares)		162
Stock-based compensation expense	8,538		8,538
Unrealized loss on available-for-sale securities	451			451
Net loss	(43,971)				(43,971)
Ending Balance at Mar. 31, 2023	$ 216,286	$ 49	$ 1,049,271	$ (113)	$ (832,921)
Ending Balance (shares) at Mar. 31, 2023		49,216

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (43,971)	$ (36,892)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	8,538	5,006
Depreciation and amortization	1,384	1,262
Non-cash lease expense	295	269
Non-cash interest expense	463	140
Accretion (amortization) of discount (premium) on investments, net	(1,550)	667
Provision for inventories	870	496
Other non-cash items	(18)	3
Changes in operating assets and liabilities:
Accounts receivable	(6,224)	(1,299)
Inventories	2,873	(4,184)
Prepaid expenses and other assets	569	137
Accounts payable	1,475	3,276
Accrued payroll and related benefits	(7,100)	(11,470)
Accrued expenses and other current liabilities	(2,337)	4,226
Accrued warranty liability	(51)	(76)
Deferred revenue	341	375
Operating lease liabilities	(313)	(271)
Net cash used in operating activities	(44,756)	(38,335)
Cash flows from investing activities:
Purchases of property and equipment	(810)	(1,478)
Purchases of investment securities	(68,147)	(64,712)
Sales and maturities of investment securities	71,600	32,800
Net cash provided by (used in) investing activities	2,643	(33,390)
Cash flows from financing activities:
Proceeds from stock option exercises and employee stock purchase plan purchases	5,277	3,723
Net cash provided by financing activities	5,277	3,723
Net decrease in cash, cash equivalents and restricted cash	(36,836)	(68,002)
Cash, cash equivalents and restricted cash as of beginning of period	76,533	215,659
Cash, cash equivalents and restricted cash as of end of period	39,697	147,657
Supplemental cash flow disclosures:
Cash paid for income taxes	201	205
Cash paid for interest	2,479	282
Cash paid for amounts included in the measurement of operating lease liabilities	313	271
Supplemental non-cash investing and financing activities:
Capital expenditures included in accounts payable and accrued expenses	$ 55	$ 907

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Outset Medical, Inc. (the Company) is a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis. The Tablo® Hemodialysis System (Tablo), cleared by the U.S. Food and Drug Administration (FDA) for use from the hospital to the home, represents a significant technological advancement designed to transform the dialysis experience for patients and operationally simplify it for providers. Tablo serves as a single enterprise solution designed to be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere, and by virtually anyone. The integration of water purification and on-demand dialysate production in a single 35-inch compact console enables Tablo to serve as a dialysis clinic on wheels. With a simple-to-use touchscreen interface, two-way wireless data transmission and a proprietary data analytics platform, Tablo is a new holistic approach to dialysis care. The Company’s headquarters are located in San Jose, California. Liquidity Since inception, the Company has incurred net losses and negative cash flows from operations. During the three months ended March 31, 2023 and 2022, the Company incurred a net loss of $ 44.0 million and $ 36.9 million , respectively. As of March 31, 2023, the Company had an accumulated deficit of $ 832.9 million . As of March 31, 2023, the Company had cash, cash equivalents and short-term investments of $ 249.2 million , which are available to fund future operations, and restricted cash of $ 3.3 million , for a total cash, cash equivalents, restricted cash and short-term investments balance of $ 252.5 million . Management expects to continue to incur significant expenses for the foreseeable future and to incur operating losses in the near term while the Company makes investments to support its anticipated growth. Management believes that the Company’s existing cash, cash equivalents, short-term investments, cash generated from sales, and proceeds received and currently available from the recent debt financing described in Note 7, will be sufficient to meet its anticipated needs for at least the next 12 months from the issuance date of the accompanying condensed financial statements. Basis of Presentation The accompanying condensed financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, that are necessary for the fair statement of the Company’s financial position, results of operations, comprehensive loss, and cash flows for the interim periods presented. The financial data and the other financial information disclosed in these notes to the condensed financial statements related to the three-month period are also unaudited. The results of operations for the three months ended March 31, 2023 are not necessarily indicative of the results of operations to be anticipated for any other future annual or interim period. The condensed balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and related notes for the year ended December 31, 2022, which are included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (SEC) on February 13, 2023 (2022 Annual Report). All share amounts disclosed in the notes to the condensed financial statements are rounded to the nearest thousand except for per share data.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. The Company adopted ASU 2016-13 during the first quarter of fiscal year 2023. The adoption did not have a material impact on the Company's financial statements. Please see the description of the Company’s "Credit Losses” accounting policy in the “Significant Accounting Policies” section below. Significant Accounting Policies With the exception of the change from accounting for credit losses as a result of the adoption of ASU 2016-13, there have been no new or material changes to the Company’s significant accounting policies as described in its 2022 Annual Report that have had a material impact on the Company’s condensed financial statements and related notes. Credit Losses Accounts receivable . The allowance for doubtful accounts is based on the Company’s assessment of the Company’s best estimate of the amount of credit losses in customer accounts. The Company regularly reviews the allowance by considering factors such as existing contractual payment terms, historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. The allowance for doubtful accounts was not significant as of March 31, 2023 and December 31, 2022. Available-for-sale debt securities . The Company primarily holds U.S. government-sponsored enterprises debt securities, corporate debt securities, commercial paper, U.S. Treasury securities and money market funds. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as historical experience, market data, financial condition and near-term prospects of the investee, the extent of the loss related to the credit of the issuer, and the expected cash flows from the security. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government-sponsored enterprises debt securities. The basis for this assumption is that these securities have consistently high credit ratings by rating agencies, have a long history with no credit losses, are explicitly guaranteed by a sovereign entity, which can print its own currency, and are denominated in a currency that is routinely held by central banks, used in international commerce, and commonly viewed as a reserve currency. Additionally, all of the Company’s investments in corporate debt securities are in securities with high-quality credit ratings, which have historically experienced low rates of default. For the three months ended March 31, 2023 and 2022 , the Company did not recognize credit loss related to available-for-sales debt securities.

Revenue and Deferred Revenue

Revenue and Deferred Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue and Deferred Revenue	3. Revenue and Deferred Revenue Disaggregation of Revenue Revenue by source consists of the following (in thousands): Three Months Ended March 31, 2023 2022 Consoles $ 18,863 $ 18,051 Consumables 8,916 7,613 Total product revenue 27,779 25,664 Service and other revenue 5,688 4,886 Total revenue $ 33,467 $ 30,550 For the three months ended March 31, 2023, $ 0.1 million of consoles revenue were from console operating lease arrangements, compared to $ 0.7 million for the three months ended March 31, 2022. Remaining Performance Obligations and Contract Liabilities As of March 31, 2023, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer service contracts that are unsatisfied or partially unsatisfied was $ 9.1 million , which is recorded as deferred revenue on the Company’s condensed balance sheets. Of that amount, $ 9.0 million will be recognized as revenue during the next 12 months and $ 0.1 million thereafter. The contract liabilities consist of deferred revenue which represents payments received in advance of revenue recognition. Revenue under these agreements is recognized over the related service period. During the three months ended March 31, 2023, the Company recognized $ 3.8 million of previously deferred revenue.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): March 31, 2023 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 30,630 $ — $ — $ 30,630 Short-term investments: U.S. Treasury securities Level 1 113,481 9 ( 157 ) 113,333 U.S. government-sponsored enterprises Level 2 45,964 69 — 46,033 Corporate debt Level 2 13,142 — ( 35 ) 13,107 Commercial paper Level 2 40,354 — — 40,354 Total cash equivalents and $ 243,571 $ 78 $ ( 192 ) $ 243,457 December 31, 2022 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 42,834 $ — $ — $ 42,834 U.S. government-sponsored enterprises Level 2 7,965 — — 7,965 Short-term investments: U.S. Treasury securities Level 1 133,473 9 ( 447 ) 133,035 U.S. government-sponsored enterprises Level 2 26,404 42 ( 14 ) 26,432 Corporate debt Level 2 29,831 — ( 154 ) 29,677 Commercial paper Level 2 25,136 — — 25,136 Total cash equivalents and $ 265,643 $ 51 $ ( 615 ) $ 265,079 As of March 31, 2023 , the remaining contractual maturities for available-for-sale securities were one month to fifteen months . The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of March 31, 2023, and December 31, 2022 (in thousands): March 31, 2023 Unrealized losses less than 12 months Unrealized losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 74,308 $ ( 157 ) $ — $ — $ 74,308 $ ( 157 ) Corporate debt 13,108 ( 35 ) — — 13,108 ( 35 ) Total $ 87,416 $ ( 192 ) $ — $ — $ 87,416 $ ( 192 ) December 31, 2022 Unrealized losses less than 12 months Unrealized losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 95,499 $ ( 343 ) $ 12,895 $ ( 103 ) $ 108,394 $ ( 446 ) U.S. government-sponsored enterprises 16,464 ( 14 ) — — 16,464 ( 14 ) Corporate debt 21,480 ( 142 ) 8,196 ( 13 ) 29,676 ( 155 ) Total $ 133,443 $ ( 499 ) $ 21,091 $ ( 116 ) $ 154,534 $ ( 615 ) The unrealized losses on the Company’s available-for-sale debt securities were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. As of March 31, 2023 , the Company does not intend to sell the investments, and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity. Additional factors considered in determining the treatment of unrealized losses include the financial condition and near-term prospects of the investee, the extent of the loss related to the credit of the issuer, and the expected cash flows from the security.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	5. Balance Sheet Components Cash, Cash Equivalents and Restricted Cash As of March 31, 2023 and December 31, 2022, the restricted cash balance of $ 3.3 million was related to collateral for the Company's building leases in San Jose, CA and Tijuana Mexico. The following table provides a reconciliation of cash, cash equivalents and restricted cash that sum to the total of the amounts shown in the accompanying condensed statements of cash flows (in thousands): March 31, 2023 2022 Cash and cash equivalents $ 36,386 $ 114,346 Restricted cash 3,311 33,311 Total cash, cash equivalents and restricted cash $ 39,697 $ 147,657 Inventories Inventories consist of the following (in thousands): March 31, December 31, 2023 2022 Raw materials $ 20,712 $ 20,623 Work in process 12,465 9,086 Finished goods 14,556 21,767 Total inventories $ 47,733 $ 51,476 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following (in thousands): March 31, December 31, 2023 2022 Inventory $ 4,400 $ 5,585 Research and development expenses 627 908 Professional services 1,941 1,261 Customer rebates 1,640 1,364 Other 5,285 7,109 Total accrued expenses and other current liabilities $ 13,893 $ 16,227

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Litigation From time to time, the Company may become involved in legal proceedings or investigations, which could have an adverse impact on its reputation, business and financial condition and divert the attention of the Company’s management from the operation of the Company’s business. The Company is not presently a party to any legal proceedings that, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, results of operations, financial condition or cash flows. Indemnification In the ordinary course of business, the Company often includes standard indemnification provisions in its arrangements with its partners, customers and suppliers. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service, breach of representations or covenants, intellectual property infringement or other claims made against such parties. These provisions may limit the time within which an indemnification claim can be made. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. To date, the Company has not incurred any material costs as a result of such indemnification obligations and has not accrued any liabilities related to such obligations in these financial statements.

Term Loan

Term Loan	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Term Loan	7. Term Loan Term loan consists of the following (in thousands): March 31, December 31, 2023 2022 Principal of term loan $ 100,000 $ 100,000 Unamortized debt discount ( 3,520 ) ( 3,664 ) Term loan, noncurrent $ 96,480 $ 96,336 SLR Credit Facilities On November 3, 2022 (the Closing Date), the Company entered into two senior secured credit facilities, which collectively provide for borrowings of up to $ 300.0 million: (i) a term loan facility pursuant to a loan and security agreement (the SLR Loan Agreement) among SLR Investment Corp., as collateral agent (Agent), the lenders from time to time party thereto (the Term Loan Lenders) and the Company (the SLR Term Loan Facility), and (ii) an asset-based revolving credit facility pursuant to a credit agreement (the SLR Revolving Credit Agreement, together with the SLR Loan Agreement, the SLR Credit Facility Agreements) among Gemino Healthcare Finance, LLC d/b/a SLR Healthcare ABL, as lender (ABL Lender), and the Company (the SLR Revolver, together with the SLR Term Loan Facility, the SLR Credit Facilities). The maximum amount the Company is permitted to borrow under the SLR Credit Facilities is subject to certain overall borrowing limitations. The Company is permitted to borrow up to $ 200.0 million under the SLR Credit Facilities on the Closing Date. If the Company achieves a certain net revenue milestone, calculated on a trailing six-month basis (First Revenue Milestone), on or before June 30, 2024 and the Additional Tranche (as defined below) under the SLR Revolver has been approved, the Company will be permitted to borrow up to $ 250.0 million under the SLR Credit Facilities. If the Company achieves a subsequent additional net revenue milestone, calculated on a trailing six-month basis (Second Revenue Milestone), on or before June 30, 2025 and obtains lenders' credit approval, the Company will be permitted to borrow up to $ 300.0 million under the SLR Credit Facilities. SLR Term Loan Facility Pursuant to the terms and conditions of the SLR Loan Agreement, the Term Loan Lenders agreed to extend term loans to the Company in an aggregate principal amount of up to $ 250.0 million, comprised of (i) a term loan of $ 100.0 million (the Term A Loan), (ii) one or more term loans (in minimum increments of $ 20.0 million each) in the aggregate of up to $ 100.0 million (each, a Term B Loan) and (iii) one or more term loans in the aggregate of up to $ 50.0 million (each, a Term C Loan). Each Term A Loan, Term B Loan and Term C Loan is referred to single as a Term Loan and are referred to collectively as the Term Loans. The Term A Loan was funded on the Closing Date. The Term B Loan(s) are available for funding until August 22, 2024. The Term C Loan(s) are available subject to the lenders’ credit approval and the achievement of the Second Revenue Milestone on or before June 30, 2025. The Term C Loan will remain available for funding until one business day prior to November 1, 2027. Any principal amount outstanding under the Term Loans will accrue interest at a rate per annum equal to one-month term Secured Overnight Financing Rate (term SOFR) (subject to a 2.75 % floor), plus 5.15 % ( 9.81 % as of March 31, 2023 ), payable monthly in arrears. The Company is permitted to make interest-only payments on the Term Loans through November 30, 2026 , which may be extended at the Company's option to May 31, 2027 ; provided that the Company meets the First Revenue Milestone. Any principal amounts outstanding under the Term Loans, if not repaid sooner, are due and payable on November 1, 2027 (the Maturity Date). The Company is obligated to pay Agent (i) a non-refundable facility fee in the amount of $ 750,000 in respect of the Term A Loan, (ii) a non-refundable facility fee in the amount of $ 750,000 in respect of the Term B Loan(s), to be due and payable upon the earliest to occur of (a) the funding of the first Term B Loan, (b) December 20, 2023 and (c) the prepayment of the Term Loans and (iii) a non-refundable facility fee in the amount of $ 375,000 in respect of the Term C Loan, to be due and payable upon the earliest to occur of (a) the funding of the first Term C Loan, (b) one day prior to the Maturity Date and (c) the prepayment of the Term Loans. In addition, the Company is obligated to pay a final fee equal to 4.75 % of the aggregate amount of the Term Loans funded, such final fee to be due and payable upon the earliest to occur of (i) the Maturity Date, (ii) the acceleration of the Term Loans and (iii) the prepayment of the Term Loans. The Company may voluntarily prepay the outstanding Term Loans, subject to a prepayment premium of (i) 3.0 % of the principal amount of the Term Loan, if prepaid prior to or on the first anniversary of the Closing Date, (ii) 2.0 % of the principal amount of the Term Loan, if prepaid after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, or (iii) 1.0 % of the principal amount of the Term Loan if prepaid after the second anniversary of the Closing Date and prior to the Maturity Date . SLR Revolver The SLR Revolving Credit Agreement provides for an asset-based revolving credit facility with aggregate revolving commitments of $ 25.0 million (the Initial Revolver Commitment). The Company may request to increase the aggregate revolving commitments by $ 25.0 million (the Additional Tranche) to an aggregate amount of $ 50.0 million, subject to ABL Lender’s approval. Amounts available to be drawn under the SLR Revolver are equal to the lesser of (i) outstanding revolving commitments under the SLR Revolving Credit Agreement and (ii) a borrowing base (the Borrowing Base) equal to the sum of (a) 85 % of eligible accounts receivable, plus (b) 25 % of eligible inventory (not to exceed the lesser of 50 % of the Borrowing Base and $ 5.0 million), minus (c) customary reserves, minus (d) unposted cash. Any principal amount outstanding under the SLR Revolver will accrue interest at a rate per annum equal to one-month term SOFR (subject to a 2.75 % floor), plus 3.20 %, payable monthly in arrears. Interest on any borrowing is payable monthly. The Company is obligated to pay Lender (i) a non-refundable facility fee in the amount of $ 187,500 in respect of the Initial Revolver Commitment, (ii) a non-refundable facility fee in the amount of $ 187,500 in respect of the Additional Tranche, to be due and payable upon activation of the Additional Tranche, (iii) a commitment fee of 0.50 % per annum of the average daily unused portion of the then commitment amount, payable monthly and (iv) a collateral monitoring fee of 0.10 % per month of the average daily Borrowing Base during the prior month, payable monthly. The Company may terminate the SLR Revolver at any time, subject to a termination fee of (i) 2.0 % of the aggregate revolving commitments then in effect, if terminated prior to or on the first anniversary of the Closing Date, (ii) 1.0 % of the aggregate revolving commitments then in effect, if terminated after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, or (iii) 0.5 % of the aggregate revolving commitments then in effect, if terminated after the second anniversary of the Closing Date through and including the third anniversary of the Closing Date. Such termination fee is waived if the SLR Revolver is terminated after the third anniversary of the Closing Date and prior to the Maturity Date. Subject to customary exceptions and restrictions, the Company may borrow, repay and reborrow varying amounts under the SLR Revolver at any time. If at any time the outstanding amount under the SLR Revolver exceeds the lesser of (i) the aggregate revolving commitments then in effect and (ii) the Borrowing Base then in effect, the Company will be required to prepay outstanding amounts under the SLR Revolver. The SLR Revolver shall expire on November 1, 2027 . Other Terms of the SLR Credit Facilities As security for its obligations under the SLR Credit Facilities, the Company granted Agent, for the benefit of the Term Loan Lenders, and ABL Lender a continuing security interest in substantially all of the assets of the Company, including the Company’s intellectual property, subject to certain exceptions. The SLR Credit Facility Agreements contain customary representations and warranties and customary affirmative and negative covenants, including, among others, requirements as to financial reporting and insurance and restrictions on the Company’s ability to dispose of its business or property, to change its line of business, to liquidate or dissolve, to enter into any change in control transaction, to merge or consolidate with any other entity or to acquire all or substantially all the capital stock or property of another entity, to incur additional indebtedness, to incur liens on its property or to pay any dividends or other distributions on capital stock, in each case with certain exceptions. The Company has also agreed to a financial covenant whereby, beginning with the fiscal quarter ending December 31, 2023, the Company must either (i) maintain certain levels of cash and cash equivalents in accounts subject to control agreements in favor of Agent and ABL Lender of at least 50 % of the sum of (a) the outstanding obligations under the Term Loans (as defined below) and (b) the amount of the Company’s accounts payable that have not been paid within 120 days from the invoice date thereof or (ii) generate net product and product related revenue (or maintain gross profit margins) in excess of specified amounts (or percentages) for applicable measuring periods. In addition, the SLR Credit Facility Agreements contain customary events of default that entitle Agent, under the SLR Loan Agreement, and ABL Lender, under the SLR Revolving Credit Agreement, to cause the Company’s indebtedness under the SLR Loan Agreement or SLR Revolving Credit Agreement, as applicable, to become immediately due and payable, and to exercise remedies against the Company and the collateral securing the obligations owed under the applicable SLR Credit Facility Agreement. Under the SLR Credit Facility Agreements, an event of default will occur if, among other things, the Company fails to make payments under either SLR Credit Facility Agreement, the Company breaches certain covenants under either SLR Credit Facility Agreement, subject to specified cure periods with respect to certain breaches, the Agent or ABL Lender, as applicable, determine that a material adverse change has occurred under the SLR Loan Agreement or SLR Revolving Credit Agreement, as applicable, or the Company or its assets become subject to certain legal proceedings, such as bankruptcy proceedings. Upon the occurrence and for the duration of an event of default, an additional default interest rate equal to 4.0 % per annum will apply to all obligations owed under the SLR Credit Facility Agreements. In November 2022, the Company borrowed $ 100.0 million under the Term A Loan on the Closing Date and incurred debt issuance costs of $ 3.8 million which were recorded as a direct deduction from the Term A Loan on the balance sheets and are being recognized as non-cash interest expense over the term of the loan using the effective interest method, along with the final payment fee. The facility fees of $ 0.9 million related to the Term B Loan and the Initial Revolver Commitment were recorded as deferred financing costs and are being recognized as non-cash interest expense over their respective commitment period using straight-line method.

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plan	8. Equity Incentive Plan Equity Incentive Plans As of March 31, 2023, 5,046,000 shares were reserved for future issuance under the 2020 Equity Incentive Plan (2020 Plan). Employee Share Purchase Plan (ESPP) As of March 31, 2023, 1,456,000 shares of common stock were reserved for issuance in connection with the current and future offering periods under the ESPP. Restricted Stock The Company issues restricted stock units (RSUs) and performance stock units (PSUs), both of which are considered restricted stock. The Company grants restricted stock pursuant to the 2020 Plan and satisfies such grants through the issuance of new shares. RSUs are share awards that, upon vesting, will deliver to the holder shares of our common stock. RSUs with a service-based vesting condition granted to a grantee, beginning in February 2022, generally vest over a three-year period as follows either: (i) 25 % on the first anniversary of the original vesting date, 25% quarterly over the course of the second year, and 50% quarterly over the course of the third year, or (ii) 33% on the first anniversary of the original vesting date, with the balance vesting quarterly over the remaining two years. Prior to February 2022, RSUs with a service-based vesting condition granted to a grantee generally vest at a rate of 25% on the first anniversary of the original vesting date , with the balance vesting quarterly over the remaining three years. In 2022, the Company issued a mix of 50 % PSUs and 50 % RSUs to its CEO, and a mix of 20 % PSUs and 80 % RSUs to its other executive officers and certain other senior leaders. These PSUs are earned and vest over performance and vesting periods extending through 2024 based on achievement against two metrics: (1) an operational metric tied to the number of patients treating at home on Tablo as of the end of 2023, with 50 % of earned units vesting after certification of the achievement level following the end of 2023 and the remaining 50 % of earned units vesting at the end of 2024 (performance-based vesting conditions, referred to as the 2022 Home PSUs) and (2) the Company's relative total stockholder return (relative TSR) over a two-year performance period as compared to companies in a pre-determined index of medical device companies, with 100% of earned units vesting at the end of 2024 (market-based vesting conditions, referred to as the 2022 Relative TSR PSUs). In 2023, the Company issued additional PSUs (2023 Home PSUs and 2023 Relative TSR PSUs) and RSUs to its CEO, other executive officers and certain other senior leaders under terms that are substantially the same except that the performance and vesting periods extending through 2025. The 2023 target for the 2022 Home PSUs was approved by the Compensation Committee in early 2023. Therefore, the grant date and the fair value for these 2022 Home PSUs were established and the associated expense is being recognized over the remaining service period. The 2024 target for the 2023 Home PSUs is expected to be determined and approved by the Compensation Committee in late 2023 or early 2024. Given such target has not yet been established, the grant date for these 2023 Home PSUs will only be established when the Compensation Committee approves and the Company communicates the target to the award recipients, which will then trigger the service inception date, the fair value of the awards, and the associated expense recognition period. Therefore, no expense is expected to be recognized for these 2023 Home PSUs until the grant date is established. Stock-Based Compensation Expense The following table sets forth stock-based compensation expense included in the accompanying condensed statements of operations (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 358 $ 93 Research and development 2,615 1,158 Sales and marketing 2,598 1,706 General and administrative 2,967 2,049 Total stock-based compensation expense $ 8,538 $ 5,006

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes For each of the three months ended March 31, 2023 and 2022 , the Company incurred an income tax provision of an insignificant amount, which primarily related to foreign income taxes related to the Company’s Mexico operations. The U.S. federal and state net deferred tax assets have been fully offset by a valuation allowance, as the Company believes it is not more likely than not that the deferred tax assets will be realized.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	10. Net Loss Per Share The following outstanding potentially dilutive shares were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three Months Ended March 31, 2023 2022 Stock options to purchase common stock 2,427 3,162 Restricted stock units 2,645 1,390 Performance stock units 101 74 Shares committed under ESPP 22 43 Warrant to purchase common stock 63 63 Total 5,258 4,732

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. The Company adopted ASU 2016-13 during the first quarter of fiscal year 2023. The adoption did not have a material impact on the Company's financial statements. Please see the description of the Company’s "Credit Losses” accounting policy in the “Significant Accounting Policies” section below.
Significant Accounting Policies	Significant Accounting Policies With the exception of the change from accounting for credit losses as a result of the adoption of ASU 2016-13, there have been no new or material changes to the Company’s significant accounting policies as described in its 2022 Annual Report that have had a material impact on the Company’s condensed financial statements and related notes.
Credit Losses	Credit Losses Accounts receivable . The allowance for doubtful accounts is based on the Company’s assessment of the Company’s best estimate of the amount of credit losses in customer accounts. The Company regularly reviews the allowance by considering factors such as existing contractual payment terms, historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. The allowance for doubtful accounts was not significant as of March 31, 2023 and December 31, 2022. Available-for-sale debt securities . The Company primarily holds U.S. government-sponsored enterprises debt securities, corporate debt securities, commercial paper, U.S. Treasury securities and money market funds. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as historical experience, market data, financial condition and near-term prospects of the investee, the extent of the loss related to the credit of the issuer, and the expected cash flows from the security. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government-sponsored enterprises debt securities. The basis for this assumption is that these securities have consistently high credit ratings by rating agencies, have a long history with no credit losses, are explicitly guaranteed by a sovereign entity, which can print its own currency, and are denominated in a currency that is routinely held by central banks, used in international commerce, and commonly viewed as a reserve currency. Additionally, all of the Company’s investments in corporate debt securities are in securities with high-quality credit ratings, which have historically experienced low rates of default. For the three months ended March 31, 2023 and 2022 , the Company did not recognize credit loss related to available-for-sales debt securities.

Revenue and Deferred Revenue (T

Revenue and Deferred Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Source	Revenue by source consists of the following (in thousands): Three Months Ended March 31, 2023 2022 Consoles $ 18,863 $ 18,051 Consumables 8,916 7,613 Total product revenue 27,779 25,664 Service and other revenue 5,688 4,886 Total revenue $ 33,467 $ 30,550

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy	The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): March 31, 2023 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 30,630 $ — $ — $ 30,630 Short-term investments: U.S. Treasury securities Level 1 113,481 9 ( 157 ) 113,333 U.S. government-sponsored enterprises Level 2 45,964 69 — 46,033 Corporate debt Level 2 13,142 — ( 35 ) 13,107 Commercial paper Level 2 40,354 — — 40,354 Total cash equivalents and $ 243,571 $ 78 $ ( 192 ) $ 243,457 December 31, 2022 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 42,834 $ — $ — $ 42,834 U.S. government-sponsored enterprises Level 2 7,965 — — 7,965 Short-term investments: U.S. Treasury securities Level 1 133,473 9 ( 447 ) 133,035 U.S. government-sponsored enterprises Level 2 26,404 42 ( 14 ) 26,432 Corporate debt Level 2 29,831 — ( 154 ) 29,677 Commercial paper Level 2 25,136 — — 25,136 Total cash equivalents and $ 265,643 $ 51 $ ( 615 ) $ 265,079
Schedule of breakdown of the available-for-sale debt securities with unrealized losses Table Text Block	The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of March 31, 2023, and December 31, 2022 (in thousands): March 31, 2023 Unrealized losses less than 12 months Unrealized losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 74,308 $ ( 157 ) $ — $ — $ 74,308 $ ( 157 ) Corporate debt 13,108 ( 35 ) — — 13,108 ( 35 ) Total $ 87,416 $ ( 192 ) $ — $ — $ 87,416 $ ( 192 ) December 31, 2022 Unrealized losses less than 12 months Unrealized losses 12 months or greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities $ 95,499 $ ( 343 ) $ 12,895 $ ( 103 ) $ 108,394 $ ( 446 ) U.S. government-sponsored enterprises 16,464 ( 14 ) — — 16,464 ( 14 ) Corporate debt 21,480 ( 142 ) 8,196 ( 13 ) 29,676 ( 155 ) Total $ 133,443 $ ( 499 ) $ 21,091 $ ( 116 ) $ 154,534 $ ( 615 )

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash that sum to the total of the amounts shown in the accompanying condensed statements of cash flows (in thousands): March 31, 2023 2022 Cash and cash equivalents $ 36,386 $ 114,346 Restricted cash 3,311 33,311 Total cash, cash equivalents and restricted cash $ 39,697 $ 147,657
Schedule of Inventories	Inventories consist of the following (in thousands): March 31, December 31, 2023 2022 Raw materials $ 20,712 $ 20,623 Work in process 12,465 9,086 Finished goods 14,556 21,767 Total inventories $ 47,733 $ 51,476
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): March 31, December 31, 2023 2022 Inventory $ 4,400 $ 5,585 Research and development expenses 627 908 Professional services 1,941 1,261 Customer rebates 1,640 1,364 Other 5,285 7,109 Total accrued expenses and other current liabilities $ 13,893 $ 16,227

Term Loan (Tables)

Term Loan (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Term Loan	Term loan consists of the following (in thousands): March 31, December 31, 2023 2022 Principal of term loan $ 100,000 $ 100,000 Unamortized debt discount ( 3,520 ) ( 3,664 ) Term loan, noncurrent $ 96,480 $ 96,336

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense	The following table sets forth stock-based compensation expense included in the accompanying condensed statements of operations (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 358 $ 93 Research and development 2,615 1,158 Sales and marketing 2,598 1,706 General and administrative 2,967 2,049 Total stock-based compensation expense $ 8,538 $ 5,006

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Outstanding Potentially Dilutive Shares were Excluded from Calculation of Diluted Net Loss Per Share	The following outstanding potentially dilutive shares were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Three Months Ended March 31, 2023 2022 Stock options to purchase common stock 2,427 3,162 Restricted stock units 2,645 1,390 Performance stock units 101 74 Shares committed under ESPP 22 43 Warrant to purchase common stock 63 63 Total 5,258 4,732

Description of Business - Addit

Description of Business - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Description Of Business [Line Items]
Net loss	$ 43,971	$ 36,892
Accumulated deficit	(832,921)		$ (788,950)
Cash, cash equivalents and short-term investments	249,200
Restricted cash	$ 3,311		$ 3,311
Cash, cash equivalents, restricted cash and short-term investments		$ 252,500

Revenue and Deferred Revenue -

Revenue and Deferred Revenue - Summary of Revenue by Source (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue	$ 33,467	$ 30,550
Consoles Product
Disaggregation Of Revenue [Line Items]
Revenue	18,863	18,051
Consumables Product
Disaggregation Of Revenue [Line Items]
Revenue	8,916	7,613
Product Revenue
Disaggregation Of Revenue [Line Items]
Revenue	27,779	25,664
Service and Other Revenue
Disaggregation Of Revenue [Line Items]
Revenue	$ 5,688	$ 4,886

Revenue and Deferred Revenue _2

Revenue and Deferred Revenue - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Remaining performance obligations	$ 9.1
Revenue recognized	3.8
Consoles Product | Operating Lease Arrangements
Revenue from operating lease arrangements	$ 0.1	$ 0.7

Revenue and Deferred Revenue _3

Revenue and Deferred Revenue - Additional Information (Detail) 1 - USD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue performance obligation		$ 9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue performance obligation	$ 0.1

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Unrealized Holding Losses	$ (192)	$ (615)
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	243,571	265,643
Gross Unrealized Holding Gains	78	51
Gross Unrealized Holding Losses	(192)	(615)
Aggregate Fair Value	243,457	265,079
Fair Value, Recurring | Level 1 | Short-term investments | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	113,481	133,473
Gross Unrealized Holding Gains	9	9
Gross Unrealized Holding Losses	(157)	(447)
Aggregate Fair Value	113,333	133,035
Fair Value, Recurring | Level 1 | Cash equivalents | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	30,630	42,834
Aggregate Fair Value	30,630	42,834
Fair Value, Recurring | Level 2 | Short-term investments | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	40,354	25,136
Aggregate Fair Value	40,354	25,136
Fair Value, Recurring | Level 2 | Short-term investments | Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	13,142	29,831
Gross Unrealized Holding Losses	(35)	(154)
Aggregate Fair Value	13,107	29,677
Fair Value, Recurring | Level 2 | Short-term investments | USGovernmentSponsoredEnterprisesDebtSecurities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	45,964	26,404
Gross Unrealized Holding Gains	69	42
Gross Unrealized Holding Losses		(14)
Aggregate Fair Value	$ 46,033	26,432
Fair Value, Recurring | Level 2 | Cash equivalents | USGovernmentSponsoredEnterprisesDebtSecurities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs		7,965
Aggregate Fair Value		$ 7,965

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of breakdown of the available-for-sale debt securities with unrealized losses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 87,416	$ 154,534
Gross Unrealized Holding Losses	(192)	(615)
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	74,308	108,394
Gross Unrealized Holding Losses	(157)	(446)
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	13,108	29,676
Gross Unrealized Holding Losses	(35)	(155)
U.S. government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		16,464
Gross Unrealized Holding Losses		(14)
Unrealized losses less than 12 months [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	87,416	133,443
Gross Unrealized Holding Losses	(192)	(499)
Unrealized losses less than 12 months [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	74,308	95,499
Gross Unrealized Holding Losses	(157)	(343)
Unrealized losses less than 12 months [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	13,108	21,480
Gross Unrealized Holding Losses	$ (35)	(142)
Unrealized losses less than 12 months [Member] | U.S. government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		16,464
Gross Unrealized Holding Losses		(14)
Unrealized losses 12 months or greater [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		21,091
Gross Unrealized Holding Losses		(116)
Unrealized losses 12 months or greater [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		12,895
Gross Unrealized Holding Losses		(103)
Unrealized losses 12 months or greater [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		8,196
Gross Unrealized Holding Losses		$ (13)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Remaining contractual maturities for available-for-sale securities	one month to fifteen months

Balance Sheet Components (Addit

Balance Sheet Components (Additional Information) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Balance Sheet Components
Restricted cash balance	$ 3,311	$ 3,300	$ 33,311

Balance Sheet Components - Sche

Balance Sheet Components - Schedule Of Cash And Cash Equivalents And Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 36,386	$ 73,222	$ 114,346
Restricted cash	3,311	$ 3,300	33,311
Total cash, cash equivalents and restricted cash	$ 39,697		$ 147,657

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 20,712	$ 20,623
Work in process	12,465	9,086
Finished goods	14,556	21,767
Total inventories	$ 47,733	$ 51,476

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Inventory	$ 4,400	$ 5,585
Research and development expenses	627	908
Professional services	1,941	1,261
Customer rebates	1,640	1,364
Other	5,285	7,109
Total accrued expenses and other current liabilities	$ 13,893	$ 16,227

Term Loan - Schedule of Term Lo

Term Loan - Schedule of Term Loan (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Principal of term loan	$ 100,000	$ 100,000
Unamortized debt discount	(3,520)	(3,664)
Term loan, noncurrent	$ 96,480	$ 96,336

Term Loan - Additional Informat

Term Loan - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Nov. 03, 2022
Debt Instrument [Line Items]
Principal of term loan		$ 100,000,000	$ 100,000,000
Debt discount on Perceptive Term Loan		$ 3,520,000	$ 3,664,000
TwoSeniorSecuredCreditFacilities
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 300,000,000
SLR Credit Facilities
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				200,000,000
Cash and cash equivalent maintain percentage		50%
Line of credit, default interest rate		4%
SLR Credit Facilities | First Revenue Milestone
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				250,000,000
SLR Credit Facilities | Second Revenue Milestone
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 300,000,000
SLR Term Loan Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 250,000,000
Line of credit, interest rate		9.81%
Line of credit, expiration date		Nov. 30, 2026
Line of credit, commitment fee percentage		4.75%
Line of credit, payment terms, description		The Company may voluntarily prepay the outstanding Term Loans, subject to a prepayment premium of (i) 3.0% of the principal amount of the Term Loan, if prepaid prior to or on the first anniversary of the Closing Date, (ii) 2.0% of the principal amount of the Term Loan, if prepaid after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, or (iii) 1.0% of the principal amount of the Term Loan if prepaid after the second anniversary of the Closing Date and prior to the Maturity Date
SLR Term Loan Facility | First Anniversary of Closing Date
Debt Instrument [Line Items]
Line of credit, percentage of prepayment premium		3%
SLR Term Loan Facility | Second Anniversary of Closing Date
Debt Instrument [Line Items]
Line of credit, percentage of prepayment premium		2%
SLR Term Loan Facility | After Second Anniversary of Closing Date
Debt Instrument [Line Items]
Line of credit, percentage of prepayment premium		1%
SLR Term Loan Facility | Extended Maturity
Debt Instrument [Line Items]
Line of credit, expiration date		May 31, 2027
SLR Term Loan Facility | InterestRateFloor
Debt Instrument [Line Items]
Line of credit, interest rate		2.75%
SLR Term Loan Facility | SOFR
Debt Instrument [Line Items]
Line of credit, interest rate		5.15%
Slr Revolver
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000,000
Line of credit, expiration date		Nov. 01, 2027
Line of credit, commitment fee percentage		0.50%
Line of credit, borrowing base, percentage		50%
Line of credit, borrowing base, amount		$ 5,000,000
Line of credit, collateral monitoring fee		0.10%
Slr Revolver | Accounts Receivable
Debt Instrument [Line Items]
Line of credit, borrowing base, percentage		85%
Slr Revolver | Inventory
Debt Instrument [Line Items]
Line of credit, borrowing base, percentage		25%
Slr Revolver | First Anniversary of Closing Date
Debt Instrument [Line Items]
Line of credit, termination fee		2%
Slr Revolver | Second Anniversary of Closing Date
Debt Instrument [Line Items]
Line of credit, termination fee		1%
Slr Revolver | After Second Anniversary of Closing Date
Debt Instrument [Line Items]
Line of credit, termination fee		0.50%
Slr Revolver | Initial Revolver Commitment
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 25,000,000
Non-refundable facility fee		187,500,000
Slr Revolver | Additional Tranche
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		25,000,000
Non-refundable facility fee		$ 187,500,000
Slr Revolver | InterestRateFloor
Debt Instrument [Line Items]
Line of credit, interest rate		2.75%
Slr Revolver | SOFR
Debt Instrument [Line Items]
Line of credit, interest rate		3.20%
Term A Loan | SLR Credit Facilities
Debt Instrument [Line Items]
Proceeds from Lines of Credit	$ 100,000,000
Debt Issuance Costs	3,800
Term A Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 100,000,000
Non-refundable facility fee		750,000,000
Term B Loan | SLR Credit Facilities
Debt Instrument [Line Items]
Non-refundable facility fee	$ 900
Term B Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		100,000,000
Line of credit, current borrowing capacity		20,000,000
Non-refundable facility fee		750,000,000
Term C Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, current borrowing capacity		50,000,000
Non-refundable facility fee		$ 375,000,000

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Mar. 31, 2023	Mar. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Earned units vesting percentage		50%
Stock-based compensation expense		$ 8,538	$ 5,006
Stock Option
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock options, description		25% quarterly over the course of the second year, and 50% quarterly over the course of the third year, or (ii) 33% on the first anniversary of the original vesting date, with the balance vesting quarterly over the remaining two years. Prior to February 2022, RSUs with a service-based vesting condition granted to a grantee generally vest at a rate of 25% on the first anniversary of the original vesting date
RSUs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Percentage of restricted stock issued to CEO		50%
Percentage of restricted stock issued to other executive officers		80%
Earned units vesting percentage	25%
PSUs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Percentage of restricted stock issued to CEO		50%
Percentage of restricted stock issued to other executive officers		20%
Earned units vesting percentage		50%
2020 Equity Incentive Plan
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common stock shares reserved for issuance		5,046,000
Employees Share Purchase Plan (ESPP)
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common stock shares reserved for issuance		1,456,000

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	$ 8,538	$ 5,006
Cost of Revenue
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	358	93
Research and Development
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	2,615	1,158
Sales and Marketing
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	2,598	1,706
General and Administrative
Equity Incentive Plan [Line Items]
Cumulative stock-based compensation	$ 2,967	$ 2,049

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Outstanding Potentially Dilutive Shares were Excluded from Calculation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	5,258	4,732
Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	2,427	3,162
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	2,645	1,390
Warrant to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	63	63
Shares Committed under ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	22	43
Performance Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	101	74

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Nov. 03, 2022
Subsequent Event [Line Items]
Principal of term loan	$ 100,000	$ 100,000
SLR Credit Facilities
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 200,000
Line of Credit Facility, Maximum Borrowing Capacity			200,000
SLR Term Loan Facility
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 250,000
TwoSeniorSecuredCreditFacilities
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			300,000
Line of Credit Facility, Maximum Borrowing Capacity			$ 300,000