Outset Medical (OM) 10-K 21 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 15, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
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 Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1.1
Document Financial Statement Error Correction [Flag]	false
ICFR Auditor Attestation Flag	true
Entity Common Stock, Shares Outstanding		50,505,683
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Proxy Statement for its 2023 Annual Meeting of Stockholders, which is to be filed with the Securities and Exchange Commission within 120 days of the registrant’ fiscal year ended December 31, 2023 , are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein.
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	San Francisco, California

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 68,509	$ 73,222
Short-term investments	134,815	214,280
Accounts receivable, net	32,980	28,070
Inventories	49,215	51,476
Prepaid expenses and other current assets	5,700	6,597
Total current assets	291,219	373,645
Restricted cash	3,329	3,311
Property and equipment, net	13,273	15,876
Operating lease right-of-use assets	5,375	6,117
Other assets	605	1,166
Total assets	313,801	400,115
Current liabilities:
Accounts payable	5,827	603
Accrued compensation and related benefits	19,005	21,519
Accrued expenses and other current liabilities	13,459	16,227
Accrued warranty liability	3,712	3,620
Deferred revenue, current	11,727	8,662
Operating lease liabilities, current	1,593	1,318
Total current liabilities	55,323	51,949
Accrued interest	896	113
Deferred revenue	101	151
Operating lease liabilities, noncurrent	4,482	5,576
Term loan	130,113	96,336
Total liabilities	190,915	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 December 31, 2023 and 2022	0	0
Common stock, $0.001 par value; 300,000 shares authorized as of December 31, 2023 and 2022; 50,317 and 48,465 shares issued and outstanding as of December 31, 2023 and 2022, respectively	50	48
Additional paid-in capital	1,084,515	1,035,456
Accumulated other comprehensive loss	68	(564)
Accumulated deficit	(961,747)	(788,950)
Total stockholders' equity	122,886	245,990
Total liabilities and stockholders' equity	$ 313,801	$ 400,115

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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	50,317,000	48,465,000
Common stock, shares outstanding	50,317,000	48,465,000

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Revenue	$ 130,376	$ 115,375	$ 102,602
Cost of revenue:
Cost of revenue	101,376	97,542	94,994
Gross profit	29,000	17,833	7,608
Operating expenses:
Research and development	57,307	48,855	36,741
Sales and marketing	96,232	89,482	65,070
General and administrative	45,231	40,515	36,316
Total operating expenses	198,770	178,852	138,127
Loss from operations	(169,770)	(161,019)	(130,519)
Interest income and other income, net	10,171	3,291	498
Interest expense	(12,675)	(3,566)	(1,715)
Loss on extinguishment of term loan	0	(1,367)	0
Loss before provision for income taxes	(172,274)	(162,661)	(131,736)
Provision for income taxes	523	295	199
Net loss	$ (172,797)	$ (162,956)	$ (131,935)
Net loss per share, basic	$ (3.48)	$ (3.38)	$ (2.89)
Net loss per share, diluted	$ (3.48)	$ (3.38)	$ (2.89)
Shares used in computing net loss per share, basic	49,588	48,161	45,589
Shares used in computing net loss per share, diluted	49,588	48,161	45,589
Product Revenue
Revenue:
Revenue	$ 103,537	$ 93,388	$ 84,312
Cost of revenue:
Cost of revenue	74,454	82,510	84,639
Service and Other Revenue
Revenue:
Revenue	26,839	21,987	18,290
Cost of revenue:
Cost of revenue	$ 26,922	$ 15,032	$ 10,355

Statements of Comprehensive Los

Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (172,797)	$ (162,956)	$ (131,935)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities	632	(380)	(185)
Comprehensive loss	$ (172,165)	$ (163,336)	$ (132,120)

Statements of Stockholders Equi

Statements of Stockholders Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2020	$ 328,609	$ 43	$ 822,624	$ 1	$ (494,059)
Beginning Balance (shares) at Dec. 31, 2020		42,722
Issuance of common stock through employee stock purchase plan	3,434		3,434
Issuance of common stock through employee stock purchase plan (shares)		116
Issuance of common stock upon follow-on public offering, net of issuance costs	149,085	$ 3	149,082
Issuance of common stock upon follow-on public offering, net of issuance costs (shares)		2,946
Issuance of common stock for settlement of RSUs (shares)		19
Stock option exercises	7,628	$ 1	7,627
Stock option exercises (shares)		1,438
Stock-based compensation expense	17,445		17,445
Unrealized gain (loss) on available-for-sale securities	(185)			(185)
Net Income (Loss)	(131,935)				(131,935)
Ending Balance at Dec. 31, 2021	374,081	$ 47	1,000,212	(184)	(625,994)
Ending Balance (shares) at Dec. 31, 2021		47,241
Issuance of common stock through employee stock purchase plan	4,202		4,202
Issuance of common stock through employee stock purchase plan (shares)		193
Issuance of common stock for settlement of RSUs (shares)		241
Stock option exercises	3,840	$ 1	3,839
Stock option exercises (shares)		790
Stock-based compensation expense	27,203		27,203
Unrealized gain (loss) on available-for-sale securities	(380)			(380)
Net Income (Loss)	(162,956)				(162,956)
Ending Balance at Dec. 31, 2022	245,990	$ 48	1,035,456	(564)	(788,950)
Ending Balance (shares) at Dec. 31, 2022		48,465
Issuance of common stock through employee stock purchase plan	7,510	$ 1	7,509
Issuance of common stock through employee stock purchase plan (shares)		559
Issuance of common stock for settlement of RSUs (shares)		708
Stock option exercises	$ 2,917	$ 1	2,916
Stock option exercises (shares)	585	585
Stock-based compensation expense	$ 38,634		38,634
Unrealized gain (loss) on available-for-sale securities	632			632
Net Income (Loss)	(172,797)				(172,797)
Ending Balance at Dec. 31, 2023	$ 122,886	$ 50	$ 1,084,515	$ 68	$ (961,747)
Ending Balance (shares) at Dec. 31, 2023		50,317

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net Income (Loss)	$ (172,797)	$ (162,956)	$ (131,935)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	38,634	27,203	17,445
Depreciation and amortization	5,810	5,169	5,162
Non-cash lease expense	1,271	1,114	1,022
Non-cash interest expense	1,828	381	569
Accretion of discount on investments, net	(6,369)	449	1,972
Provision for inventories	733	2,610	1,023
Other non-cash items	290	76	81
Loss on extinguishment of term loan	0	1,367	0
Changes in operating assets and liabilities:
Accounts receivable	(5,094)	(2,506)	(19,137)
Inventories	1,647	(14,730)	(22,042)
Prepaid expenses and other assets	739	(1,215)	1,860
Accounts payable	5,312	(1,281)	(3,066)
Accrued payroll and related benefits	(2,515)	(3,428)	8,103
Accrued expenses and other current liabilities	(2,621)	1,811	5,889
Accrued warranty liability	91	(83)	791
Deferred revenue	3,015	2,161	2,881
Operating lease liabilities	(1,347)	(1,150)	(882)
Accrued interest	0	(721)	0
Net cash used in operating activities	(131,373)	(145,729)	(130,264)
Cash flows from investing activities:
Purchases of property and equipment	(3,440)	(8,325)	(3,108)
Purchases of investment securities	(172,284)	(261,154)	(178,432)
Maturities of investment securities	258,750	203,184	39,033
Net cash (used in) provided by investing activities	83,026	(66,295)	(142,507)
Cash flows from financing activities:
Proceeds from stock option exercises and ESPP purchases	10,427	8,042	11,062
Proceeds from issuance of term loan, net of issuance costs	33,225	96,059	0
Repayment of term loan and extinguishment costs	0	(31,203)	0
Proceeds from issuance of common stock upon the follow-on public offering, net of issuance costs	0	0	149,085
Net cash provided by financing activities	43,652	72,898	160,147
Net decrease in cash, cash equivalents and restricted cash	(4,695)	(139,126)	(112,624)
Cash, cash equivalents and restricted cash as of beginning of period	76,533	215,659	328,283
Cash, cash equivalents and restricted cash as of end of period	71,838	76,533	215,659
Supplemental cash flow disclosures:
Cash paid for income taxes	491	385	83
Cash paid for interest	10,847	3,185	1,146
Cash paid for amounts included in the measurement of operating lease liabilities	1,347	1,150	882
Supplemental non-cash investing and financing activities:
Capital expenditures included in accounts payable and accrued expenses	159	167	121
Right-of-use assets obtained in exchange for lease liabilities	528	0	0
Transfer of inventories to property and equipment	119	28	1,410
Deferred financing costs included in accrued expenses	0	750	0
Transfer of property and equipment to inventories	$ 0	$ 199	$ 1,192

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (172,797)	$ (162,956)	$ (131,935)

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
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

Description of Business

Description of Business	12 Months Ended
	Dec. 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. Tablo® Hemodialysis System, cleared by the 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, CA. Liquidity Since inception, the Company has incurred net losses and negative cash flows from operations. The Company incurred net losses of $ 172.8 million , $ 163.0 million and $ 131.9 million for the years ended December 31, 2023, 2022, and 2021, respectively. As of December 31, 2023, the Company had an accumulated deficit of $ 961.7 million . As of December 31, 2023, the Company had a total cash, cash equivalents, restricted cash, and short-term investments balance of $ 206.7 million . In January 2024, the Company received $ 66.5 million under the SLR Term Loan Facility (see Notes 7 and 12 for further details). The Company is subject to certain covenants limiting or restricting its ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. 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 from the 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 financial statements. Basis of Presentation The financial statements have been prepared in accordance with U.S. GAAP. All share amounts disclosed in the notes to the financial statements are rounded to the nearest thousand except for per share amounts.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses. These judgments, estimates and assumptions are used for, but not limited to, revenue recognition, allowance for credit losses, inventory valuation and write-downs, warranty obligations, the fair value of equity awards, the valuation of investments, recoverability of the Company’s net deferred tax assets, and certain accrued expenses. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results may differ from those estimates under different assumptions or conditions and the differences may be material. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, restricted cash, short-term investments, and accounts receivable. Substantially all the Company’s cash and cash equivalents, restricted cash, and investments are held at one financial institution in the United States that management believes is of high credit quality. Such investments may, at times, exceed federally insured limits or may not be covered by deposit insurance at all. For the year ended December 31, 2023, 2022 and 2021, the Company's largest customer accounted for 13 %, 14 % and 30 % of revenues, respectively. For the year ended December 31, 2021 , another customer accounted for 15 % of revenues. Accounts receivable are unsecured; however, the Company does assess the collectability of accounts receivable based on a number of factors, including past transaction history with, and the creditworthiness of, the customer. Accordingly, the Company is exposed to credit risk associated with accounts receivable. To reduce risk, the Company closely monitors the amounts due from its customers and assesses the financial strength of its customers through a variety of methods that include, but are not limited to, engaging directly with customer operations and leadership personnel, visiting customer locations to observe operating activities, and assessing customer longevity and reputation in the marketplace. As a result, the Company believes that its accounts receivable credit risk exposure is limited. A material default in payment or a material reduction in purchases from these or any other large customers could have a material adverse impact on the Company’s financial condition, results of operations, and liquidity. One customer accounted for 14 % of accounts receivable as of December 31, 2023 . Another customer accounted for 13 % of accounts receivable as of December 31, 2022. The Company manufactures Tablo consoles, and a majority of Tablo cartridges, at its manufacturing facility in Tijuana, Mexico which it operates in collaboration with its outsourced business administration service provider, TACNA. The Company is subject to a number of risks associated with operating its Mexico-based manufacturing facility, and many of these risks may heighten to the extent the Company continues to ramp its cartridge manufacturing capabilities and increase its dependence on the Mexico-based manufacturing operations. The Company may experience strikes, work stoppages, work slowdowns, high personnel turnover, grievances, complaints, claims of unfair labor practices, other collective bargaining disputes or other labor disputes at its facility. The manufacturing operations at the facility may also suffer disruptions from global or regional public health crises such as the recent COVID-19 pandemic, natural disasters, cyber security attacks, vandalism, terrorism or other political hostilities. Any such occurrences could negatively impact the Company’s ability to produce Tablo consoles and cartridges. The Company is also subject to a variety of foreign laws and regulations, including trade and labor restrictions and laws relating to importation, exportation and taxation of goods, and U.S. laws and regulations relating to foreign operations. In addition, because certain of its Mexico-based manufacturing operations incur costs that are denominated in MXN, the Company is exposed to additional risk of currency fluctuations between USD and MXN, which could increase its product and labor costs, thus reducing its gross profit. To date, foreign currency transaction gains and losses have not been material to the Company’s financial statements. Fair Value of Financial Instruments The Company determines the fair value of an asset or liability based on the assumptions that market participants would use in pricing the asset or liability in an orderly transaction between market participants at the measurement date. The identification of market participant assumptions provides a basis for determining what inputs are to be used for pricing each asset or liability. The Company classifies financial instruments using a three-tiered fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities. Credit Losses Accounts receivable . Accounts receivable are recorded at invoice value, net of any allowance for credit losses. The allowance for credit losses 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 credit losses was not significant as of December 31, 2023 and 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. Cash Equivalents and Short-Term Investments The Company considers all highly liquid investments with an original maturity of three months or less from the date of purchase to be cash equivalents. Cash equivalents are stated at fair value and consist primarily of amounts invested in money market funds and U.S. government-sponsored enterprises debt securities. The Company primarily holds U.S. government-sponsored enterprises debt securities, corporate debt securities, commercial paper, and U.S. Treasury securities, and has the ability, if necessary, to liquidate any of its investments to meet its liquidity needs in the next 12 months, without significant penalty. Accordingly, those investments with contractual maturities greater than one year from the date of purchase are classified as short-term investments on the accompanying balance sheets. Short-term investments have been classified as available-for-sale at the time of purchase. The Company evaluates the appropriate classification of its investments as of each balance sheet date. The Company’s investment securities are recorded at fair value based on the fair value hierarchy. Money market funds and U.S. Treasury securities are classified within Level 1 of the fair value hierarchy. Other securities are classified within Level 2 of the fair value hierarchy. Unrealized gains and losses, deemed temporary in nature, are reported as a separate component of accumulated other comprehensive income (loss). A decline in the fair value of any security below cost that is deemed other than temporary results in a charge to earnings and the corresponding establishment of a new cost basis for the security. Premiums (discounts) are amortized (accreted) into interest income over the life of the related security as an adjustment to yield using the straight-line interest method. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of securities sold. Inventories Inventory is stated at the lower of cost or net realizable value, with approximate costs determined on a first-in, first-out basis. Inventory costs include direct materials, direct labor, and normal manufacturing overhead. The carrying value of inventories is reduced for any products that are considered excessive or obsolete based upon assumptions about future demand and market conditions. Any write-down of its inventory to net realizable value establishes a new cost basis and will be maintained even if certain circumstances suggest that the inventory is recoverable in subsequent periods. Costs associated with the write-down of inventory are recorded to cost of revenue on the statements of operations. Property and Equipment, Net Property and equipment, net is stated at cost, net of accumulated depreciation. Depreciation is generally computed using the straight-line method based on the estimated useful lives of the assets, which is generally two to five years . Leasehold improvements are amortized using the straight-line method over the shorter of the assets estimated useful lives or the remaining term of the lease. Maintenance and repairs are charged to expense as incurred. Significant improvements that substantially enhance the useful life of an asset are capitalized and depreciated. When assets are retired or disposed of, the cost together with related accumulated depreciation is removed from the balance sheet and any resulting gain or loss is reflected in the statements of operations in the period realized. Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. There were no such impairment losses as of December 31, 2023 and 2022 . Leases The Company determines if an arrangement is a lease at inception by assessing whether the arrangement contains an identified asset and whether it has the right to control the identified asset. Right-of-use (ROU) assets represent the Company’s right to use an underlying asset for the lease term. Operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable. As the implicit rate in the Company’s leases is generally unknown, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when the Company is reasonably certain it will exercise such options. Lease costs for the Company’s operating leases are recognized on a straight-line basis over the reasonably assured lease term. Variable lease payments include lease operating expenses. The Company has elected to not separate lease and non-lease components for any leases within its existing classes of assets and, as a result, accounts for any lease and non-lease components as a single lease component. The Company has also elected to not apply the recognition requirement to any leases within its existing classes of assets with a term of 12 months or less and does not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. Accrued Warranty Liability The Company generally provides a one-year warranty for defective parts and workmanship on its Tablo consoles, commencing upon the transfer of title and risk of loss to the customer. The Company accrues the estimated cost of product warranties when it invoices the customer, based on historical experience and expected results. Should actual product failure rates and material usage costs differ from these estimates, revisions to the estimated warranty liability would be required. The Company periodically assesses the adequacy of its recorded product warranty liabilities and adjusts the balance as required. Warranty expense is recorded as a component of cost of product revenue in the statements of operations. Contract Liabilities - Deferred Revenue The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records deferred revenue when revenue is recognized subsequent to invoicing. For service agreements, the Company generally invoices customers annually at the beginning of each annual coverage period. Deferred revenue that will be recognized during the 12 months following the balance sheet date is recorded as the current portion of deferred revenue and the remaining portion is recorded as noncurrent. Revenue The Company generates revenue primarily from the sale of its products and services. Product revenue consists primarily of sales of Tablo consoles and related consumables, including Tablo cartridges and accessories. Service and other revenue consists primarily of revenue generated from service agreements and other revenue from shipping and handling charged to customers. Each customer contract defines our distinct performance obligations and the associated transaction price for each obligation. Tablo consoles and consumables are generally sold without the right of return. Revenue is recognized when a performance obligation is satisfied. Revenue from product sales is recognized at a point in time when management has determined that control has transferred to the customer, which is generally when legal title has transferred to the customer. Revenue from service agreements is recognized over time as the service is performed, typically evenly over the service period. Certain contracts include variable consideration such as rebates, revenue for such contracts is recognized only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company’s contracts with customers often include multiple performance obligations, such as products and services. The Company determines the SSP based upon the facts and circumstances of each performance obligation (product or services), which often requires management's judgement. The Company uses an observable price to estimate SSP for items that are sold separately, including service agreements. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs and allocates the contracted transaction price to each distinct performance obligation based upon the relative SSP. When SSP is not directly observable for a performance obligation, the Company utilizes the residual method to allocate revenue. The Company may offer additional goods or services to customers at the inception of customer contracts at prices not at SSP. If such contracts result in a material right, the Company allocates part of the transaction price to that right and recognizes the associated revenue when those future goods and services are transferred to the customer. SSP is assigned based on the estimated value of the material right. The Company establishes SSP ranges for its products and services and reassesses them periodically. Costs associated with product sales include commissions. The Company applies the practical expedient to expense the commissions as incurred as the expected amortization period is one year or less. Commissions are recorded as sales and marketing expenses in the statements of operations. Operating Lease Arrangements The Company enters into operating lease arrangements that contain both lease and non-lease elements. The lease element includes Tablo consoles, while non-lease elements include consumables, services and training. Revenue related to such arrangements is allocated to lease and non-lease elements based on their relative SSP. Revenue for the lease element, net of any taxes collected from customers, is recognized on a straight-line basis as product revenue over the lease term, generally one month to one year, in the statements of operations. The costs of the leased Tablo consoles are included in property and equipment, net on the balance sheets and amortized to cost of product revenue. Shipping and Handling Costs Shipping and handling charged to customers are recorded as revenue. Shipping and handling costs are expensed as incurred and are included in sales and marketing expenses. Stock-Based Compensation Expense Stock-based compensation expense relates to stock options with a service-based vesting condition, stock options with performance and market-based vesting conditions, stock purchase rights under the ESPP, Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) with performance or market-based vesting conditions. Stock-based compensation expense for the Company’s stock-based awards is based on their grant date fair value. The fair value of stock options with a service condition and stock purchase rights under the ESPP on the grant date is estimated using the Black-Scholes option-pricing model. The fair value of these awards is recognized as compensation expense on a straight-line basis over the requisite service period in which the awards are expected to vest and forfeitures are recognized as they occur. The Black-Scholes model considers several variables and assumptions in estimating the fair value of service-based stock options and stock purchase rights under the ESPP. These variables include the per share fair value of the underlying common stock, exercise price, expected term, risk-free interest rate, expected annual dividend yield and expected stock price volatility over the expected term. For all service-based stock options granted, the Company calculates the expected term using the simplified method for “plain vanilla” stock option awards. The Company had no publicly available stock price information prior to the IPO and limited available stock price information subsequent to the IPO; therefore, the Company has used the historical volatility of the stock price of similar publicly traded peer companies. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term on the equity settled award. For stock options with performance- and market-based vesting conditions, stock-based compensation expense begins to be recognized over the remaining service period when it is considered probable that the performance vesting condition will be satisfied. Stock-based compensation expense related to these options is recognized using the accelerated attribution method as the performance-based vesting condition and not reversed if the achievement of the market condition does not occur. The fair value of these stock options is estimated using the Monte Carlo simulation model. The fair value of RSUs and PSUs with a service- or performance-based vesting condition is based on the market price of the Company’s common stock on the date of grant. The determination of the stock-based compensation expense related to PSUs to be recognized in the statements of operations requires the use of certain estimates and assumptions. At each reported period, the Company reassesses the probability of the achievement of corporate performance goals to estimate the number of shares to be released. Any increase or decrease in stock-based compensation expense resulting from an adjustment in the estimated shares to be released is treated as a cumulative catch-up in the period of adjustment. If any of the assumptions or estimates used change significantly, stock-based compensation expense may differ materially from what the Company has recorded in the current period. The fair value of PSUs with a market-based vesting condition is estimated using the Monte Carlo simulation model. Stock-based compensation expense related to these PSUs is recognized using the accelerated attribution method and not reversed if the achievement of the market conditions does not occur . Research and Development The Company expenses all research and development costs as incurred. These expenses include the costs of proprietary research and development efforts, quality engineering, clinical studies and trials, and regulatory affairs. Costs primarily consist of compensation and personnel costs, regulatory fees, consulting services, laboratory supplies and materials expenses, and infrastructure costs including facilities, depreciation, and information technology . Advertising Costs Advertising costs are expensed as incurred. The advertising costs for years ended December 31, 2023, 2022, and 2021 were no t significant. Income Taxes The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting bases of assets and liabilities and remeasured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. The Company utilizes a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. The Company includes any penalties and interest expense related to income taxes as a component of other expense, net, as necessary. Net Loss per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and common share equivalents of potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, awards under the Company’s equity compensation plan and warrants are considered to be potentially dilutive securities. For periods in which the Company reports net losses, basic net loss per share is the same as diluted net loss per share because the effects of potentially dilutive securities are antidilutive. Employee Benefit Plan The Company has a defined contribution retirement savings plan under Section 401(k) of the Internal Revenue Code. This plan allows eligible employees to defer a portion of their eligible compensation on a pre- or post-tax basis. The Company is authorized to make matching contributions but did not make such contributions for the year ended December 31, 2021. Effective January 1, 2022, the Company began to match 100 % of each employee’s contributions up to a maximum matching contribution equal to 2 % of such employee’s eligible compensation, subject to the terms and limitations of the 401(k) plan and applicable law. The Company's matching contributions were $ 1.7 million and $ 1.4 million for the years ended December 31, 2023 and 2022 , respectively. Segment The Company operates as a single operating segment. The Company’s chief operating decision maker, its Chief Executive Officer, reviews fina ncial information on an aggregate basis for the purposes of allocating resources and evaluating financial performance. The Company operates a manufacturing facility in Mexico. The Company's long-lived tangible assets, net, as well as the Company's operating lease right-of-use assets recognized on the balance sheets, located in Mexico were $ 9.8 million as of December 31, 2023 . 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 as of January 1, 2023. The adoption did not have a material impact on the Company's financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2023-07 on its financial statements. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09), which requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	3. Revenue from Contracts with Customers Disaggregation of Revenue Revenue by source consisted of the following (in thousands): Years Ended December 31, 2023 2022 2021 Consoles $ 61,331 $ 64,590 $ 65,133 Consumables 42,206 28,798 19,179 Total product revenue 103,537 93,388 84,312 Service and other revenue 26,839 21,987 18,290 Total revenue $ 130,376 $ 115,375 $ 102,602 For the years ended December 31, 2023, 2022 and 2021, $ 0.3 million , $ 2.0 million and $ 4.7 million , respectively, of consoles revenue were from console operating lease arrangements. Remaining Performance Obligations and Contract Liabilities As of December 31, 2023, the aggregate amount of the transaction price allocated to the remaining performance obligations related to service agreements that are unsatisfied or partially unsatisfied was $ 11.8 million , which is recorded as deferred revenue on the Company’s balance sheet. Of that amount, $ 11.7 million will be recognized as revenue during the year ended December 31, 2024 and $ 0.1 million thereafter. The contract liabilities consist of deferred revenue which represents payments received in advance of revenue recognition. During the years ended December 31, 2023, 2022 and 2021, the Company recognized $ 8.7 million , $ 6.3 million, and $ 3.2 million, respectively, of previously deferred revenue.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): December 31, 2023 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 44,883 $ — $ — $ 44,883 Short-term investments: U.S. Treasury securities Level 1 53,790 58 ( 32 ) 53,816 U.S. government-sponsored enterprises Level 2 29,645 24 ( 38 ) 29,631 Corporate debt Level 2 33,214 56 — 33,270 Commercial paper Level 2 18,097 5 ( 4 ) 18,098 Total cash equivalents and $ 179,629 $ 143 $ ( 74 ) $ 179,698 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 The Company’s Level 2 debt securities are valued using third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data and other observable inputs. The Company validates the prices provided by its third-party pricing services by understanding the models used, obtaining market values from other pricing sources and confirming those securities traded in active markets. The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of December 31, 2023 and 2022 (in thousands): December 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 $ 8,416 $ ( 16 ) 17,925 ( 16 ) $ 26,341 $ ( 32 ) U.S. government-sponsored enterprises 18,757 ( 22 ) 8,488 ( 16 ) 27,245 ( 38 ) Corporate debt 11,291 ( 4 ) — — 11,291 ( 4 ) Total $ 38,464 $ ( 42 ) $ 26,413 $ ( 32 ) $ 64,877 $ ( 74 ) 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 December 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. For the years ended December 31, 2023 and 2022, the Company did not recognize credit loss related to available-for-sales debt securities. As of December 31, 2023, the remaining contractual maturities for short-term investments were as follows (in thousands): Aggregate Fair Value Due within one year $ 112,333 After one but within five years 22,482 Total $ 134,815 The estimated fair value of the term loans as of December 31, 2023 and 2022 was $ 141.3 million and $ 100 million, respectively. The fair value of term loans is based on quoted market prices for the same or similar issues or on the current rates offered for loan of similar maturities.

Balance Sheet Components

Balance Sheet Components	12 Months Ended
	Dec. 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 December 31, 2023 and 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 (see Note 6). As of December, 31, 2021 , the restricted cash balance of $ 33.3 million included the contractual obligations under the SVB Loan and Security Agreement (see Note 7) in addition to the collateral for the building leases. The following table provides a reconciliation of cash, cash equivalents and restricted cash that sum to the total of the amounts shown in the statements of cash flows (in thousands): December 31, 2023 2022 2021 Cash and cash equivalents $ 68,509 $ 73,222 $ 182,348 Restricted cash 3,329 3,311 33,311 Total cash, cash equivalents and restricted cash $ 71,838 $ 76,533 $ 215,659 Inventories Inventories consist of the following (in thousands): December 31, 2023 2022 Raw materials $ 18,706 $ 20,623 Work in process 8,728 9,086 Finished goods 21,781 21,767 Total inventories $ 49,215 $ 51,476 Property and Equipment, net Property and equipment, net consisted of the following (in thousands): December 31, 2023 2022 Tablos under operating leases $ 522 $ 714 Computers and software 5,148 4,021 Furniture and fixtures 1,983 1,768 Machinery and equipment 11,602 10,367 Leasehold improvements 9,621 5,040 Construction in progress 769 4,773 Total property and equipment $ 29,645 $ 26,683 Less: accumulated depreciation and amortization ( 16,372 ) ( 10,807 ) Property and equipment, net $ 13,273 $ 15,876 Total depreciation and amortization expense for the years ended December 31, 2023, 2022 and 2021, was $ 5.8 million , $ 5.2 million , and $ 5.2 million , respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): December 31, 2023 2022 Inventory $ 3,395 $ 5,585 Research and development expenses 1,050 908 Professional services 1,153 1,261 Customer rebates 2,100 1,364 Other 5,761 7,109 Total accrued expenses and other current liabilities $ 13,459 $ 16,227 Accrued Warranty Liability The change in accrued warranty liability is presented in the following table (in thousands): December 31, 2023 2022 Balance as of December 31, 2022 $ 3,620 $ 3,704 Additions charged to cost of product revenue 5,172 5,748 Consumption ( 5,080 ) ( 5,832 ) Balance as of December 31, 2023 $ 3,712 $ 3,620

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Leases In September 2019, the Company entered into an operating lease agreement for its facility and office space in San Jose, CA that commenced in April 2020 and expires in March 2027 . This operating lease contains a free rent period and an escalation clause. The landlord provided the Company with a tenant improvement allowance of up to $ 2.0 million. The Company issued an irrevocable standby letter of credit in the amount of $ 0.3 million in lieu of a cash security deposit. The letter of credit is fully secured by cash held at the bank in a restricted account. In May 2020, the Company entered into an operating lease agreement for its manufacturing facility in Tijuana, Mexico that commenced in May 2020 and will expire in August 2026 . This operating lease contains a free rent period and an escalation clause. The Company issued an irrevocable standby letter of credit in the amount of $ 3.0 million, in lieu of a cash security deposit. The letter of credit is fully secured by cash held at the bank in a restricted account. In May 2023, the Company entered into on an operating lease agreement for office space in Tijuana, Mexico for certain research and development and general and administrative activities. The lease will expire in 2028. All three leases include renewal options at the election of the Company to renew or extend the lease . The Company evaluates renewal options at lease inception and on an ongoing basis and includes renewal options that it is reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. The components of lease costs were as follows (in thousands): Years ended December 31, 2023 2022 2021 Operating lease costs $ 1,837 $ 1,759 $ 1,759 Variable lease costs 435 329 375 Short-term lease costs 94 170 180 Total lease costs $ 2,366 $ 2,258 $ 2,314 The weighted-average remaining lease term and discount rate were as follows: December 31, 2023 2022 Weighted-average remaining lease term (in years) 3.4 4.3 Weighted-average discount rate 8.8 % 8.7 % The maturity of the Company’s operating lease liabilities as of December 31, 2023 were as follows (in thousands): Years Ending December 31: 2024 $ 2,049 2025 2,107 2026 1,952 Thereafter 901 Total lease payments 7,009 Less: imputed interest ( 934 ) Present value of operating lease liabilities $ 6,075 Operating lease liabilities, current $ 1,593 Operating lease liabilities, noncurrent $ 4,482 Purchase Commitments The Company's commitments as of December 31, 2023 were $ 59.5 million relating to the Company’s open purchase orders and contractual obligations that occur in the ordinary course of business, including commitments with contract manufacturers and suppliers for which the Company has not received the goods or services, commitments for capital expenditures, consulting activities for which the Company has not received the services, and subscription of software services. Although open purchase orders are considered enforceable and legally binding, the terms generally allow the Company the option to cancel within a reasonable period, reschedule, and adjust its requirements based on its business needs prior to the delivery of goods or performance of services. Litigation From time to time, the Company may become involved in other 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. Indemnifications 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 Loans

Term Loans	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Term Loan	7. Term Loans Term loans consist of the following (in thousands): December 31, 2023 2022 Principal of term loans $ 133,476 $ 100,000 Unamortized debt discount ( 3,363 ) ( 3,664 ) Term loans, noncurrent $ 130,113 $ 96,336 SVB Loan and Security Agreement On July 2, 2020, the Company entered into a senior secured term loan facility with Silicon Valley Bank (SVB) (the SVB Loan and Security Agreement), which provided for a $ 30.0 million term loan (the SVB Term Loan). The SVB Term Loan was scheduled to mature on November 1, 2025 . Payments under the SVB Term Loan were for interest only through May 2023 , and then 30 monthly principal and interest payments from June 2023 until maturity. The SVB Term Loan bore interest at the greater of (A) 0.50 % above the Prime Rate as reported in the Wall Street Journal and (B) 3.75 %. The Company was obligated to maintain a restricted cash balance greater or equal to the outstanding principal balance of $ 30.0 million of the SVB Term Loan. In November 2022, the Company entered into new senior secured credit facilities (the SLR Credit Facilities, as described below) and repaid in full all amounts due under the SVB Loan and Security Agreement, including the early repayment fee of $ 0.3 million and the final payment of $ 2.0 million, using a portion of the proceeds of the SLR Credit Facilities. The repayment of the SVB Term Loan was accounted for as a debt extinguishment, which resulted in a loss on extinguishment of $ 1.4 million recorded in the statement of operations for the year ended December 31, 2022. 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 as follows: (i) up to a $ 250.0 million 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) up to a $ 50.0 million 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. With the outstanding principal amount of $ 133.5 million as of December 31, 2023 and the $ 66.5 million borrowed and received in January 2024 under the SLR Term Loan Facility (see further detailed discussion below), the Company has borrowed $ 200.0 million of term loans as of the date of this Annual Report. 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 an additional $ 50.0 million under the SLR Credit Facilities (i.e., a maximum amount of $ 250.0 million). 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 further borrow up to an additional $ 50.0 million under the SLR Credit Facilities (i.e., a maximum amount of $ 300.0 million). SLR Term Loan Facility Under the SLR Loan Agreement, as subsequently amended on December 11, 2023, 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) term loans in an aggregate principal amount of up to $ 100.0 million that was provided for in two increments, one of $ 33.5 million (the Term B-1 Loan) and one of $ 66.5 million (the Term B-2 Loan) and (iii) one or more term loans in an aggregate principal amount of up to $ 50.0 million (Term C Loans). 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. As of December 31, 2023, the Company had an outstanding principal amount of $ 133.5 million under the Term A and B-1 Loans, which were funded in November 2022 and December 2023, respectively. Subsequently, the Company borrowed and received $ 66.5 million under the Term B-2 Loan in January 2024 (see Note 12 for further details). The Term C Loans are available subject to lenders’ credit approval and the achievement of the Second Revenue Milestone on or before June 30, 2025. The Term C Loans 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 % ( 10.46 % as of December 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 fees in the aggregate amount of $ 750,000 in respect of the Term B-1 and B-2 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 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 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 agreements also include a financial covenant that, 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 in excess of specified amounts and maintain gross profit margins in excess of specified percentages, in each case, 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 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. As of December 31, 2023, the Company borrowed an aggregate principal amount of $ 133.5 million under the Term A and B-1 Loans. The debt issuance costs and the facility fees related to the Term A and B Loans were recorded as a direct deduction from the term loans balance on the balance sheets and are being recognized as non-cash interest expense over the term of the loans using the effective interest method, along with the final payment fee. The facility fees related to 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. The annual principal annual payments, excluding interest payments and the final fee, due on the term loans as of December 31, 2023 were as follows (in thousands): Years Ending December 31: 2024 $ — 2025 — 2026 11,123 2027 122,353 Total principal payments 133,476 Less: unamortized debt discount ( 3,363 ) Total term loans, net of debt discount $ 130,113

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation Equity Incentive Plan In 2019, the Company terminated the 2010 Stock Incentive Plan (the 2010 Plan) and adopted the 2019 Equity Incentive Plan (the 2019 Plan, and together with 2010 Plan, the Prior Plans) for the purpose of providing incentive and non-statutory stock options to employees, directors and certain non-employees. In 2020, the Company adopted the 2020 Equity Incentive Plan (the 2020 Plan, and together with the Prior Plans, the Plans), which became effective in connection with the IPO. As a result, the Company may not grant any additional awards under the Prior Plans. The Prior Plans will continue to govern outstanding equity awards previously granted thereunder. The Company initially reserved 3,665,000 shares of common stock for the issuance of awards under the 2020 Plan. In addition, the number of shares of common stock available under the 2020 Plan automatically increases on the first day of each fiscal year until (and including) the fiscal year ending December 31, 2030, with such annual increase equal to an amount equal to the lesser of (i) 4 % of the number of shares of common stock issued and outstanding on December 31 of the immediately preceding calendar year, and (ii) an amount determined by the Company’s board of directors. As of December 31, 2023 , 4,768,000 shares were reserved for future issuance under the 2020 Plan. Options under the 2020 Plan have a contractual term of 10 years . The exercise price of an option shall not be less than 100 % of the fair market value of the shares on the date of grant. Stock Options Subsequent to first quarter of 2022, the Company no longer grants stock options. Service-based options previously granted to a grantee generally vest at a rate of 25 % on the first anniversary of the original vesting date, with the balance vesting monthly over the remaining three years. A summary of the Company’s stock option activity under the Plans is set forth below (in thousands, except exercise price and remaining contractual life data): Outstanding Weighted- Weighted- Aggregate Outstanding as of December 31, 2022 2,602 $ 13.97 Granted — — Exercised ( 585 ) $ 4.99 Forfeited and expired ( 82 ) $ 40.10 Outstanding as of December 31, 2023 1,935 $ 15.58 5.27 $ 1,406 Exercisable as of December 31, 2023 1,777 $ 13.22 5.10 $ 1,406 The weighted average grant date fair value of options granted to employees was $ 18.56 and $ 24.74 per share during the years ended December 31, 2022 and 2021, respectively. The total intrinsic value of options exercised during the years ended December 31, 2023, 2022 and 2021 was $ 9.9 million , $ 22.2 million and $ 61.0 million, respectively. The intrinsic value is the difference between the fair value of the Company’s common stock at the time of exercise and the exercise price of the stock option. The total fair value of options that vested during the years ended December 31, 2023, 2022 and 2021 was $ 3.6 million , $ 6.1 million and $ 24.5 million, respectively. As of December 31, 2023, the total unrecognized stock-based compensation expense related to the stock options was $ 3.3 million , which will be recognized over a weighted-average period of 1.15 years. For the year ended December 31, 2021, the Company recorded stock-based compensation expense of $ 4.3 million related to stock options with performance- and market-based vesting conditions that were fully vested in 2021. The fair value of each stock option grant is estimated on the date of grant using the following assumptions for the periods indicated: Years Ended December 31, 2022 2021 Expected term (in years) 6.08 5.95 – 6.08 Expected volatility 55.0 % 53.9 % – 55.3 % Risk-free interest rate 1.74 % 0.66 % – 1.36 % Dividend yield 0 % 0 % Restricted Stock The Company issues RSUs and 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. RSUs with a service-based vesting condition granted to a grantee prior to February 2022 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 and 2023, 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 the end of the third year from the grant year (Year 3) 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 the second year from the grant year (Year 2), with 50 % of earned units vesting after certification of the achievement level following the end of Year 2 and the remaining 50 % of earned units vesting at the end of Year 3 (performance-based vesting conditions, referred to as the 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 Year 3 (market-based vesting conditions, referred to as the Relative TSR PSUs). The number of units earned at the end of the Year 2 will vary, based on actual performance, from 0 % to 200 % (to 250 % for the CEO) of the target number of the Home PSUs granted. The number of units earned at the end of the two-year period will vary, based on actual performance, from 75 % to 150 % (to 250 % for the CEO) of the target number of the Relative TSR PSUs granted. The grant date for these Home PSUs is not considered established until the Compensation Committee of the Board approves the target and it is communicated to the award recipients, which then triggers the service inception date, the fair value of the awards, and the associated expense recognition period. The 2024 target for the Home PSUs granted in 2023 (2023 Home PSUs) was not determined and approved by the Compensation Committee of the Board until February 2024. Therefore, no expense was recognized for these 2023 Home PSUs in 2023. The 2023 target for the Home PSUs granted in 2022 (2022 Home PSUs) was determined in January 2023 and achieved and earned at 123.4% as of December 31, 2023. The stock-based compensation expense related to 2022 Home PSUs was adjusted based on the achievement and a cumulative catch up was recognized in 2023. During 2021 and 2020, the Company issued PSUs that vest upon the achievement of specified revenue targets (performance-based vesting conditions) or specified market stock prices (market-based vesting conditions) and continued performance of services. Certain PSUs with performance-based vesting conditions vest in a range between 0 % and 200 % of the units approved based on the performance relative to specified revenue targets. Restricted stock activity was as follows (in thousands, except per share amounts): Restricted Performance Weighted-Average (RSU) (PSU) RSU PSU Outstanding as of December 31, 2022 1,593 239 $ 34.75 $ 26.50 Granted 2,321 266 $ 18.09 $ 11.06 Vested ( 708 ) — $ 35.22 — Forfeited ( 612 ) ( 73 ) $ 27.02 $ 32.31 Outstanding as of December 31, 2023 2,594 432 $ 21.54 $ 22.50 The total grant date fair value of restricted stock vested for the years ended December 31, 2023, 2022 and 2021 were $ 24.9 million , $ 9.9 million, and $1 .0 million, respectively. As of December 31, 2023, the total unrecognized stock-based compensation expense related to the restricted stock was $ 45.7 million , which will be recognized over a weighted-average period of 1.78 years. Employees Stock Purchase Plan (ESPP) In 2020, the Company adopted the ESPP. The Company initially reserved 687,000 shares of common stock for purchase under the ESPP. In addition, the number of shares of common stock available for issuance under the ESPP increases automatically on the first day of each fiscal year until (and including) the fiscal year ending December 31, 2030, with such annual increase equal to the lesser of (i) 687,000 shares, (ii) 1 % of the number of common stock issued and outstanding on December 31 of the immediately preceding fiscal year, and (iii) an amount determined by the Company’s board of directors. As of December 31, 2023, 1,204,000 shares of common stock were reserved for issuance in connection with the current and future offering periods under the ESPP. Subject to any limitations contained therein, the ESPP allows eligible participants to contribute, through payroll deductions, up to 15 % of their eligible compensation to purchase the Company’s common stock at a purchase price equal to 85 % of the fair market value of the common stock on the first day of the offering period or purchase date, whichever is lower. The ESPP generally provides for consecutive 6-month offering periods. Effective beginning with the offering period commencing on March 1, 2022, the ESPP allows eligible participants to purchase shares pursuant to a cashless exercise program, and the duration for each offering period is a 24-month period consisting of four separate consecutive purchase periods of six months in length. This includes a two-year look-back feature in the ESPP, with a reset feature, which causes the offering period to reset if the fair value of the Company’s common stock on the first day of a new offering period is less than that on the original offering date. The grant date fair value and assumptions used in estimating the fair value of the stock purchase rights under the ESPP were as follows : Years Ended December 31, 2023 2022 2021 Expected term (in years) 0.49 – 2.00 0.49 – 2.00 0.50 Expected volatility 53.3 % – 61.6 % 41.1 % – 58.0 % 41.0 % – 43.8 % Risk-free interest rate 4.81 % – 5.4 % 0.6 % – 3.48 % 0.06 % – 0.07 % Dividend yield 0 % 0 % 0 % Grant Date Fair Value $ 3.25 –$ 8.27 $ 4.89 – $ 16.23 $ 13.25 –$ 13.9 5 As of December 31, 2023, the total unrecognized stock-based compensation expense related to the ESPP was $ 5.3 million , which will be recognized over a weighted-average period of 0.81 years. Stock-based Compensation Expense The following table sets forth stock-based compensation expense included in the statements of operations (in thousands): Years Ended December 31, 2023 2022 2021 Cost of revenue $ 1,805 $ 701 $ 269 Research and development 10,538 6,845 3,809 Sales and marketing 12,419 10,269 5,897 General and administrative 13,872 9,388 7,470 Total stock-based compensation expense $ 38,634 $ 27,203 $ 17,445

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes Loss before provision for income taxes were as follows for the periods indicated (in thousands): Years Ended December 31, 2023 2022 2021 Domestic $ ( 158,095 ) $ ( 153,226 ) $ ( 128,400 ) Foreign ( 14,179 ) ( 9,435 ) ( 3,336 ) Loss before provision for income taxes $ ( 172,274 ) $ ( 162,661 ) $ ( 131,736 ) The provision for income taxes were $ 0.5 million , $ 0.3 million, and $ 0.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, which primarily related to foreign income taxes in Mexico. The Company has incurred net operating losses for all periods presented. The Company has not reflected any benefit of such net operating loss carryforwards in the financial statements. The Company has established a full valuation allowance against its deferred tax assets due to the uncertainty surrounding the realization of such assets. The effective tax rate differs from the federal statutory income tax rate applied to the loss before provision for income taxes and tax due to the following: Years Ended December 31, 2023 2022 2021 Federal statutory income tax rate 21.0 % 21.0 % 21.0 % State taxes 3.2 4.2 1.3 Change in valuation allowance ( 22.0 ) ( 26.1 ) ( 22.8 ) Federal and state tax credits 1.3 1.4 1.2 Stock-based compensation expense ( 2.0 ) 1.2 8.1 Non-deductible permanent expenses ( 0.7 ) ( 0.2 ) ( 0.1 ) Effect of deferred tax adjustment — 0.2 ( 0.7 ) Non-deductible compensation ( 1.0 ) ( 1.9 ) ( 8.2 ) Effective income tax rate ( 0.2 ) % ( 0.2 ) % ( 0.2 ) % Deferred tax assets and liabilities Deferred income taxes reflect the net tax effect of temporary differences between amounts recorded for financial reporting purposes and amounts used for tax purposes. The major components of deferred tax assets and liabilities were as follows as of the dates indicated (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 161,189 $ 131,705 Tax credits 16,343 14,172 Accrual and reserves 4,907 4,509 Tangible and intangible assets 2,894 2,143 Stock-based compensation expense 4,596 4,686 Capitalized research costs 29,663 25,730 Other deferred tax asset 3,812 2,876 Gross deferred tax assets 223,404 185,821 Valuation allowance ( 222,061 ) ( 184,298 ) Net deferred tax assets $ 1,343 $ 1,523 December 31, 2023 2022 Deferred tax liabilities: Right-of-use assets $ ( 1,343 ) $ ( 1,523 ) Gross deferred tax liabilities $ ( 1,343 ) $ ( 1,523 ) Realization of the deferred tax assets is dependent upon future taxable income, if any, the amount and timing of which are uncertain. A valuation allowance is provided when it is not more likely than not that some portion of the deferred tax assets will be realized. Management believes that, based on a number of factors, it is more likely than not that the U.S. federal and state net deferred tax assets will not be fully realized, thus a full valuation allowance has been recorded as of December 31, 2023 and 2022. The change in the valuation allowance during the years ended December 31, 2023, 2022 and 2021 was an increase of $ 37.8 million , $ 42.6 million , and $ 30.7 million , respectively. Starting in 2022, changes to Internal Revenue Code Section 174 made by the Tax Cuts and Jobs Act of 2017 (the TCJA) no longer permit an immediate deduction for research and development expenditures in the tax year that such costs are incurred. As a result, the Company capitalized such costs in its 2023 and 2022 income tax provisions, resulting in an increase in deferred tax assets. Net Operating Loss and Tax Credit Carryforwards As of December 31, 2023, the Company had a net operating loss carryforward for U.S. federal income tax purposes of $ 643.4 million . Federal net operating losses of $ 515.6 million incurred after 2017 do not expire but usage is limited to 80% of taxable income. The remaining $ 127.8 million of federal net operating loss carryforward will begin to expire in 2024 and continue to expire through 2037 . The Company had a total U.S. state net operating loss carryforward of $ 380.2 million . State net operating losses of $ 108.3 million do not expire. The remaining state net operating loss carryforward of $ 271.9 million will begin to expire in 2024 and continue to expire through 2043 . As of December 31, 2023, the Company had federal research and development credits of $ 8.8 million , which will begin to expire in 2030 and state research and development credits of $ 7.5 million which are not currently subject to expiration. Utilization of the operating loss and tax credits may be subject to annual limitation due to the ownership change limitations provided by the Code and similar state provisions. Such an annual limitation could result in the expiration of net operating loss and tax credit carryforwards before utilization. Federal and state laws impose substantial restrictions on the utilization of net operating loss and tax credit carryforwards in the event of an ownership change for tax purposes, as defined in Section 382 of the Internal Revenue Code. As a result of such ownership changes, the Company’s ability to realize the potential future benefit of tax losses and tax credits that existed at the time of the ownership change may be significantly reduced. The Company’s deferred tax asset and related valuation allowance would be reduced, as a result. The Company has not performed a Section 382 study to determine the amount of reduction, if any. Unrecognized tax benefits as of December 31, 2023 have been recorded as an offset to federal and state research and development credit carryforwards. Unrecognized Tax Benefits A reconciliation of the total unrecognized tax benefits for the periods presented was as follows (in thousands): December 31, 2023 2022 Balance, beginning of year $ 3,027 $ 2,190 Increase related to prior years positions — 37 Decrease related to current year positions — — Increase related to current year positions 754 800 Balance, end of year $ 3,781 $ 3,027 The Company does not have any material accrued interest or penalties associated with unrecognized tax benefits. The Company does not believe it is reasonably possible that its unrecognized tax benefits will significantly change within the next twelve months. The Company files income tax returns in the United States, various U.S. states and Mexico. The Company is currently under Texas franchise tax audit. The Company is not under examination by income tax authorities in federal, other states with the exception of Texas, or other jurisdictions. All tax returns remain open for examination by federal, state, and foreign authorities for three , four , and five years, respectively, from the date of utilization of any net operating loss or credits.

Net Loss per Share

Net Loss per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Loss per Share	10. Net Loss per Share The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Years Ended December 31, 2023 2022 2021 Stock options to purchase common stock 1,935 2,602 3,533 Restricted stock units 2,593 1,593 581 Performance stock units 197 47 17 Shares committed under ESPP 318 90 37 Warrant to purchase common stock 63 63 63 Total 5,106 4,395 4,231

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2023
Restructuring [Abstract]
Restructuring	11. Restructuring Early in the fourth quarter of 2023, the Company began restructuring its organization to better align its talent, organizational design and spending in support of its most critical strategies while also streamlining its overall cost structure. The restructuring plan was substantially completed as of December 31, 2023. As a result, we recognized restructuring charges of $ 2.5 million for severance costs, all of which were paid or will be paid in cash. As of December 31, 2023, $ 0.9 million of restructuring costs were recorded in accrued compensation and related benefits on the balance sheet. Restructuring costs are recorded in the statements of operations as follows (in thousands): Year Ended December 31, 2023 Cost of revenue $ 129 Research and development 739 Sales and marketing 1,294 General and administrative 370 Total $ 2,532

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Event	12. Subsequent Event On January 2, 2024, the Company borrowed and received $ 66.5 million under the SLR Term Loan Facility (the Term B-2 Loan). After giving effect to such borrowing and the recent borrowing the Company made in December 2023, the outstanding principal amount under the SLR Term Loan Facility is $ 200.0 million as of the date of this Annual Report

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use Of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses. These judgments, estimates and assumptions are used for, but not limited to, revenue recognition, allowance for credit losses, inventory valuation and write-downs, warranty obligations, the fair value of equity awards, the valuation of investments, recoverability of the Company’s net deferred tax assets, and certain accrued expenses. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results may differ from those estimates under different assumptions or conditions and the differences may be material.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, restricted cash, short-term investments, and accounts receivable. Substantially all the Company’s cash and cash equivalents, restricted cash, and investments are held at one financial institution in the United States that management believes is of high credit quality. Such investments may, at times, exceed federally insured limits or may not be covered by deposit insurance at all. For the year ended December 31, 2023, 2022 and 2021, the Company's largest customer accounted for 13 %, 14 % and 30 % of revenues, respectively. For the year ended December 31, 2021 , another customer accounted for 15 % of revenues. Accounts receivable are unsecured; however, the Company does assess the collectability of accounts receivable based on a number of factors, including past transaction history with, and the creditworthiness of, the customer. Accordingly, the Company is exposed to credit risk associated with accounts receivable. To reduce risk, the Company closely monitors the amounts due from its customers and assesses the financial strength of its customers through a variety of methods that include, but are not limited to, engaging directly with customer operations and leadership personnel, visiting customer locations to observe operating activities, and assessing customer longevity and reputation in the marketplace. As a result, the Company believes that its accounts receivable credit risk exposure is limited. A material default in payment or a material reduction in purchases from these or any other large customers could have a material adverse impact on the Company’s financial condition, results of operations, and liquidity. One customer accounted for 14 % of accounts receivable as of December 31, 2023 . Another customer accounted for 13 % of accounts receivable as of December 31, 2022. The Company manufactures Tablo consoles, and a majority of Tablo cartridges, at its manufacturing facility in Tijuana, Mexico which it operates in collaboration with its outsourced business administration service provider, TACNA. The Company is subject to a number of risks associated with operating its Mexico-based manufacturing facility, and many of these risks may heighten to the extent the Company continues to ramp its cartridge manufacturing capabilities and increase its dependence on the Mexico-based manufacturing operations. The Company may experience strikes, work stoppages, work slowdowns, high personnel turnover, grievances, complaints, claims of unfair labor practices, other collective bargaining disputes or other labor disputes at its facility. The manufacturing operations at the facility may also suffer disruptions from global or regional public health crises such as the recent COVID-19 pandemic, natural disasters, cyber security attacks, vandalism, terrorism or other political hostilities. Any such occurrences could negatively impact the Company’s ability to produce Tablo consoles and cartridges. The Company is also subject to a variety of foreign laws and regulations, including trade and labor restrictions and laws relating to importation, exportation and taxation of goods, and U.S. laws and regulations relating to foreign operations. In addition, because certain of its Mexico-based manufacturing operations incur costs that are denominated in MXN, the Company is exposed to additional risk of currency fluctuations between USD and MXN, which could increase its product and labor costs, thus reducing its gross profit. To date, foreign currency transaction gains and losses have not been material to the Company’s financial statements.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company determines the fair value of an asset or liability based on the assumptions that market participants would use in pricing the asset or liability in an orderly transaction between market participants at the measurement date. The identification of market participant assumptions provides a basis for determining what inputs are to be used for pricing each asset or liability. The Company classifies financial instruments using a three-tiered fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities.
Credit Losses	Credit Losses Accounts receivable . Accounts receivable are recorded at invoice value, net of any allowance for credit losses. The allowance for credit losses 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 credit losses was not significant as of December 31, 2023 and 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.
Cash Equivalents and Short-Term Investments	Cash Equivalents and Short-Term Investments The Company considers all highly liquid investments with an original maturity of three months or less from the date of purchase to be cash equivalents. Cash equivalents are stated at fair value and consist primarily of amounts invested in money market funds and U.S. government-sponsored enterprises debt securities. The Company primarily holds U.S. government-sponsored enterprises debt securities, corporate debt securities, commercial paper, and U.S. Treasury securities, and has the ability, if necessary, to liquidate any of its investments to meet its liquidity needs in the next 12 months, without significant penalty. Accordingly, those investments with contractual maturities greater than one year from the date of purchase are classified as short-term investments on the accompanying balance sheets. Short-term investments have been classified as available-for-sale at the time of purchase. The Company evaluates the appropriate classification of its investments as of each balance sheet date. The Company’s investment securities are recorded at fair value based on the fair value hierarchy. Money market funds and U.S. Treasury securities are classified within Level 1 of the fair value hierarchy. Other securities are classified within Level 2 of the fair value hierarchy. Unrealized gains and losses, deemed temporary in nature, are reported as a separate component of accumulated other comprehensive income (loss). A decline in the fair value of any security below cost that is deemed other than temporary results in a charge to earnings and the corresponding establishment of a new cost basis for the security. Premiums (discounts) are amortized (accreted) into interest income over the life of the related security as an adjustment to yield using the straight-line interest method. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of securities sold.
Inventories	Inventories Inventory is stated at the lower of cost or net realizable value, with approximate costs determined on a first-in, first-out basis. Inventory costs include direct materials, direct labor, and normal manufacturing overhead. The carrying value of inventories is reduced for any products that are considered excessive or obsolete based upon assumptions about future demand and market conditions. Any write-down of its inventory to net realizable value establishes a new cost basis and will be maintained even if certain circumstances suggest that the inventory is recoverable in subsequent periods. Costs associated with the write-down of inventory are recorded to cost of revenue on the statements of operations.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net is stated at cost, net of accumulated depreciation. Depreciation is generally computed using the straight-line method based on the estimated useful lives of the assets, which is generally two to five years . Leasehold improvements are amortized using the straight-line method over the shorter of the assets estimated useful lives or the remaining term of the lease. Maintenance and repairs are charged to expense as incurred. Significant improvements that substantially enhance the useful life of an asset are capitalized and depreciated. When assets are retired or disposed of, the cost together with related accumulated depreciation is removed from the balance sheet and any resulting gain or loss is reflected in the statements of operations in the period realized. Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. There were no such impairment losses as of December 31, 2023 and 2022 .
Leases	Leases The Company determines if an arrangement is a lease at inception by assessing whether the arrangement contains an identified asset and whether it has the right to control the identified asset. Right-of-use (ROU) assets represent the Company’s right to use an underlying asset for the lease term. Operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable. As the implicit rate in the Company’s leases is generally unknown, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when the Company is reasonably certain it will exercise such options. Lease costs for the Company’s operating leases are recognized on a straight-line basis over the reasonably assured lease term. Variable lease payments include lease operating expenses. The Company has elected to not separate lease and non-lease components for any leases within its existing classes of assets and, as a result, accounts for any lease and non-lease components as a single lease component. The Company has also elected to not apply the recognition requirement to any leases within its existing classes of assets with a term of 12 months or less and does not include an option to purchase the underlying asset that the Company is reasonably certain to exercise.
Accrued Warranty Liability	Accrued Warranty Liability The Company generally provides a one-year warranty for defective parts and workmanship on its Tablo consoles, commencing upon the transfer of title and risk of loss to the customer. The Company accrues the estimated cost of product warranties when it invoices the customer, based on historical experience and expected results. Should actual product failure rates and material usage costs differ from these estimates, revisions to the estimated warranty liability would be required. The Company periodically assesses the adequacy of its recorded product warranty liabilities and adjusts the balance as required. Warranty expense is recorded as a component of cost of product revenue in the statements of operations.
Contract Liabilities - Deferred Revenue	Contract Liabilities - Deferred Revenue The timing of revenue recognition may differ from the timing of invoicing to customers. The Company records deferred revenue when revenue is recognized subsequent to invoicing. For service agreements, the Company generally invoices customers annually at the beginning of each annual coverage period. Deferred revenue that will be recognized during the 12 months following the balance sheet date is recorded as the current portion of deferred revenue and the remaining portion is recorded as noncurrent.
Revenue	Revenue The Company generates revenue primarily from the sale of its products and services. Product revenue consists primarily of sales of Tablo consoles and related consumables, including Tablo cartridges and accessories. Service and other revenue consists primarily of revenue generated from service agreements and other revenue from shipping and handling charged to customers. Each customer contract defines our distinct performance obligations and the associated transaction price for each obligation. Tablo consoles and consumables are generally sold without the right of return. Revenue is recognized when a performance obligation is satisfied. Revenue from product sales is recognized at a point in time when management has determined that control has transferred to the customer, which is generally when legal title has transferred to the customer. Revenue from service agreements is recognized over time as the service is performed, typically evenly over the service period. Certain contracts include variable consideration such as rebates, revenue for such contracts is recognized only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company’s contracts with customers often include multiple performance obligations, such as products and services. The Company determines the SSP based upon the facts and circumstances of each performance obligation (product or services), which often requires management's judgement. The Company uses an observable price to estimate SSP for items that are sold separately, including service agreements. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs and allocates the contracted transaction price to each distinct performance obligation based upon the relative SSP. When SSP is not directly observable for a performance obligation, the Company utilizes the residual method to allocate revenue. The Company may offer additional goods or services to customers at the inception of customer contracts at prices not at SSP. If such contracts result in a material right, the Company allocates part of the transaction price to that right and recognizes the associated revenue when those future goods and services are transferred to the customer. SSP is assigned based on the estimated value of the material right. The Company establishes SSP ranges for its products and services and reassesses them periodically. Costs associated with product sales include commissions. The Company applies the practical expedient to expense the commissions as incurred as the expected amortization period is one year or less. Commissions are recorded as sales and marketing expenses in the statements of operations. Operating Lease Arrangements The Company enters into operating lease arrangements that contain both lease and non-lease elements. The lease element includes Tablo consoles, while non-lease elements include consumables, services and training. Revenue related to such arrangements is allocated to lease and non-lease elements based on their relative SSP. Revenue for the lease element, net of any taxes collected from customers, is recognized on a straight-line basis as product revenue over the lease term, generally one month to one year, in the statements of operations. The costs of the leased Tablo consoles are included in property and equipment, net on the balance sheets and amortized to cost of product revenue. Shipping and Handling Costs Shipping and handling charged to customers are recorded as revenue. Shipping and handling costs are expensed as incurred and are included in sales and marketing expenses.
Stock-Based Compensation Expense	Stock-Based Compensation Expense Stock-based compensation expense relates to stock options with a service-based vesting condition, stock options with performance and market-based vesting conditions, stock purchase rights under the ESPP, Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) with performance or market-based vesting conditions. Stock-based compensation expense for the Company’s stock-based awards is based on their grant date fair value. The fair value of stock options with a service condition and stock purchase rights under the ESPP on the grant date is estimated using the Black-Scholes option-pricing model. The fair value of these awards is recognized as compensation expense on a straight-line basis over the requisite service period in which the awards are expected to vest and forfeitures are recognized as they occur. The Black-Scholes model considers several variables and assumptions in estimating the fair value of service-based stock options and stock purchase rights under the ESPP. These variables include the per share fair value of the underlying common stock, exercise price, expected term, risk-free interest rate, expected annual dividend yield and expected stock price volatility over the expected term. For all service-based stock options granted, the Company calculates the expected term using the simplified method for “plain vanilla” stock option awards. The Company had no publicly available stock price information prior to the IPO and limited available stock price information subsequent to the IPO; therefore, the Company has used the historical volatility of the stock price of similar publicly traded peer companies. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term on the equity settled award. For stock options with performance- and market-based vesting conditions, stock-based compensation expense begins to be recognized over the remaining service period when it is considered probable that the performance vesting condition will be satisfied. Stock-based compensation expense related to these options is recognized using the accelerated attribution method as the performance-based vesting condition and not reversed if the achievement of the market condition does not occur. The fair value of these stock options is estimated using the Monte Carlo simulation model. The fair value of RSUs and PSUs with a service- or performance-based vesting condition is based on the market price of the Company’s common stock on the date of grant. The determination of the stock-based compensation expense related to PSUs to be recognized in the statements of operations requires the use of certain estimates and assumptions. At each reported period, the Company reassesses the probability of the achievement of corporate performance goals to estimate the number of shares to be released. Any increase or decrease in stock-based compensation expense resulting from an adjustment in the estimated shares to be released is treated as a cumulative catch-up in the period of adjustment. If any of the assumptions or estimates used change significantly, stock-based compensation expense may differ materially from what the Company has recorded in the current period. The fair value of PSUs with a market-based vesting condition is estimated using the Monte Carlo simulation model. Stock-based compensation expense related to these PSUs is recognized using the accelerated attribution method and not reversed if the achievement of the market conditions does not occur .
Research and Development	Research and Development The Company expenses all research and development costs as incurred. These expenses include the costs of proprietary research and development efforts, quality engineering, clinical studies and trials, and regulatory affairs. Costs primarily consist of compensation and personnel costs, regulatory fees, consulting services, laboratory supplies and materials expenses, and infrastructure costs including facilities, depreciation, and information technology
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. The advertising costs for years ended December 31, 2023, 2022, and 2021 were no t significant.
Income Taxes	Income Taxes The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting bases of assets and liabilities and remeasured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. The Company utilizes a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. The Company includes any penalties and interest expense related to income taxes as a component of other expense, net, as necessary.
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 shares of common stock outstanding for the period, without consideration for potential dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and common share equivalents of potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, awards under the Company’s equity compensation plan and warrants are considered to be potentially dilutive securities. For periods in which the Company reports net losses, basic net loss per share is the same as diluted net loss per share because the effects of potentially dilutive securities are antidilutive.
Employee Benefit Plan	Employee Benefit Plan The Company has a defined contribution retirement savings plan under Section 401(k) of the Internal Revenue Code. This plan allows eligible employees to defer a portion of their eligible compensation on a pre- or post-tax basis. The Company is authorized to make matching contributions but did not make such contributions for the year ended December 31, 2021. Effective January 1, 2022, the Company began to match 100 % of each employee’s contributions up to a maximum matching contribution equal to 2 % of such employee’s eligible compensation, subject to the terms and limitations of the 401(k) plan and applicable law. The Company's matching contributions were $ 1.7 million and $ 1.4 million for the years ended December 31, 2023 and 2022 , respectively.
Segment	Segment The Company operates as a single operating segment. The Company’s chief operating decision maker, its Chief Executive Officer, reviews fina ncial information on an aggregate basis for the purposes of allocating resources and evaluating financial performance. The Company operates a manufacturing facility in Mexico. The Company's long-lived tangible assets, net, as well as the Company's operating lease right-of-use assets recognized on the balance sheets, located in Mexico were $ 9.8 million as of December 31, 2023 .
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 as of January 1, 2023. The adoption did not have a material impact on the Company's financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2023-07 on its financial statements. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09), which requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its financial statements.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Source	Revenue by source consisted of the following (in thousands): Years Ended December 31, 2023 2022 2021 Consoles $ 61,331 $ 64,590 $ 65,133 Consumables 42,206 28,798 19,179 Total product revenue 103,537 93,388 84,312 Service and other revenue 26,839 21,987 18,290 Total revenue $ 130,376 $ 115,375 $ 102,602

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 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 and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands): December 31, 2023 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 44,883 $ — $ — $ 44,883 Short-term investments: U.S. Treasury securities Level 1 53,790 58 ( 32 ) 53,816 U.S. government-sponsored enterprises Level 2 29,645 24 ( 38 ) 29,631 Corporate debt Level 2 33,214 56 — 33,270 Commercial paper Level 2 18,097 5 ( 4 ) 18,098 Total cash equivalents and $ 179,629 $ 143 $ ( 74 ) $ 179,698 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	The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of December 31, 2023 and 2022 (in thousands): December 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 $ 8,416 $ ( 16 ) 17,925 ( 16 ) $ 26,341 $ ( 32 ) U.S. government-sponsored enterprises 18,757 ( 22 ) 8,488 ( 16 ) 27,245 ( 38 ) Corporate debt 11,291 ( 4 ) — — 11,291 ( 4 ) Total $ 38,464 $ ( 42 ) $ 26,413 $ ( 32 ) $ 64,877 $ ( 74 ) 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 )
Schedule of the Remaining Contractual Maturities for Short-Term Investments	As of December 31, 2023, the remaining contractual maturities for short-term investments were as follows (in thousands): Aggregate Fair Value Due within one year $ 112,333 After one but within five years 22,482 Total $ 134,815

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Cash, 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 statements of cash flows (in thousands): December 31, 2023 2022 2021 Cash and cash equivalents $ 68,509 $ 73,222 $ 182,348 Restricted cash 3,329 3,311 33,311 Total cash, cash equivalents and restricted cash $ 71,838 $ 76,533 $ 215,659
Schedule of Inventories	Inventories consist of the following (in thousands): December 31, 2023 2022 Raw materials $ 18,706 $ 20,623 Work in process 8,728 9,086 Finished goods 21,781 21,767 Total inventories $ 49,215 $ 51,476
Summary of Property Plant and Equipment	Property and Equipment, net Property and equipment, net consisted of the following (in thousands): December 31, 2023 2022 Tablos under operating leases $ 522 $ 714 Computers and software 5,148 4,021 Furniture and fixtures 1,983 1,768 Machinery and equipment 11,602 10,367 Leasehold improvements 9,621 5,040 Construction in progress 769 4,773 Total property and equipment $ 29,645 $ 26,683 Less: accumulated depreciation and amortization ( 16,372 ) ( 10,807 ) Property and equipment, net $ 13,273 $ 15,876
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): December 31, 2023 2022 Inventory $ 3,395 $ 5,585 Research and development expenses 1,050 908 Professional services 1,153 1,261 Customer rebates 2,100 1,364 Other 5,761 7,109 Total accrued expenses and other current liabilities $ 13,459 $ 16,227
Accrued Warranty Liability	Accrued Warranty Liability The change in accrued warranty liability is presented in the following table (in thousands): December 31, 2023 2022 Balance as of December 31, 2022 $ 3,620 $ 3,704 Additions charged to cost of product revenue 5,172 5,748 Consumption ( 5,080 ) ( 5,832 ) Balance as of December 31, 2023 $ 3,712 $ 3,620

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Components of Lease Costs	The components of lease costs were as follows (in thousands): Years ended December 31, 2023 2022 2021 Operating lease costs $ 1,837 $ 1,759 $ 1,759 Variable lease costs 435 329 375 Short-term lease costs 94 170 180 Total lease costs $ 2,366 $ 2,258 $ 2,314
Schedule of Weighted-average Remaining Lease Term and Discount Rate	The weighted-average remaining lease term and discount rate were as follows: December 31, 2023 2022 Weighted-average remaining lease term (in years) 3.4 4.3 Weighted-average discount rate 8.8 % 8.7 %
Maturity of Operating Lease Liabilities	The maturity of the Company’s operating lease liabilities as of December 31, 2023 were as follows (in thousands): Years Ending December 31: 2024 $ 2,049 2025 2,107 2026 1,952 Thereafter 901 Total lease payments 7,009 Less: imputed interest ( 934 ) Present value of operating lease liabilities $ 6,075 Operating lease liabilities, current $ 1,593 Operating lease liabilities, noncurrent $ 4,482

Term Loans (Tables)

Term Loans (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Term Loan	Term loans consist of the following (in thousands): December 31, 2023 2022 Principal of term loans $ 133,476 $ 100,000 Unamortized debt discount ( 3,363 ) ( 3,664 ) Term loans, noncurrent $ 130,113 $ 96,336
Summary of Debt Maturities	annual payments, excluding interest payments and the final fee, due on the term loans as of December 31, 2023 were as follows (in thousands): Years Ending December 31: 2024 $ — 2025 — 2026 11,123 2027 122,353 Total principal payments 133,476 Less: unamortized debt discount ( 3,363 ) Total term loans, net of debt discount $ 130,113

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Summary of Stock Option Activity	A summary of the Company’s stock option activity under the Plans is set forth below (in thousands, except exercise price and remaining contractual life data): Outstanding Weighted- Weighted- Aggregate Outstanding as of December 31, 2022 2,602 $ 13.97 Granted — — Exercised ( 585 ) $ 4.99 Forfeited and expired ( 82 ) $ 40.10 Outstanding as of December 31, 2023 1,935 $ 15.58 5.27 $ 1,406 Exercisable as of December 31, 2023 1,777 $ 13.22 5.10 $ 1,406
Summary of Estimated Fair Value of Stock Option Grants	The fair value of each stock option grant is estimated on the date of grant using the following assumptions for the periods indicated: Years Ended December 31, 2022 2021 Expected term (in years) 6.08 5.95 – 6.08 Expected volatility 55.0 % 53.9 % – 55.3 % Risk-free interest rate 1.74 % 0.66 % – 1.36 % Dividend yield 0 % 0 %
Summary of Restricted Stock Activity	Restricted stock activity was as follows (in thousands, except per share amounts): Restricted Performance Weighted-Average (RSU) (PSU) RSU PSU Outstanding as of December 31, 2022 1,593 239 $ 34.75 $ 26.50 Granted 2,321 266 $ 18.09 $ 11.06 Vested ( 708 ) — $ 35.22 — Forfeited ( 612 ) ( 73 ) $ 27.02 $ 32.31 Outstanding as of December 31, 2023 2,594 432 $ 21.54 $ 22.50
Summary of Stock-based Compensation Expense	The following table sets forth stock-based compensation expense included in the statements of operations (in thousands): Years Ended December 31, 2023 2022 2021 Cost of revenue $ 1,805 $ 701 $ 269 Research and development 10,538 6,845 3,809 Sales and marketing 12,419 10,269 5,897 General and administrative 13,872 9,388 7,470 Total stock-based compensation expense $ 38,634 $ 27,203 $ 17,445
Employee Stock Purchase Plan (ESPP)
Subsidiary, Sale of Stock [Line Items]
Summary of Estimated Fair Value of Stock Option Grants	The grant date fair value and assumptions used in estimating the fair value of the stock purchase rights under the ESPP were as follows : Years Ended December 31, 2023 2022 2021 Expected term (in years) 0.49 – 2.00 0.49 – 2.00 0.50 Expected volatility 53.3 % – 61.6 % 41.1 % – 58.0 % 41.0 % – 43.8 % Risk-free interest rate 4.81 % – 5.4 % 0.6 % – 3.48 % 0.06 % – 0.07 % Dividend yield 0 % 0 % 0 % Grant Date Fair Value $ 3.25 –$ 8.27 $ 4.89 – $ 16.23 $ 13.25 –$ 13.9 5

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Summary of Loss before provision for income taxes	Loss before provision for income taxes were as follows for the periods indicated (in thousands): Years Ended December 31, 2023 2022 2021 Domestic $ ( 158,095 ) $ ( 153,226 ) $ ( 128,400 ) Foreign ( 14,179 ) ( 9,435 ) ( 3,336 ) Loss before provision for income taxes $ ( 172,274 ) $ ( 162,661 ) $ ( 131,736 )
Summary of Effective Tax Rate of the Provision for Income Taxes	The effective tax rate differs from the federal statutory income tax rate applied to the loss before provision for income taxes and tax due to the following: Years Ended December 31, 2023 2022 2021 Federal statutory income tax rate 21.0 % 21.0 % 21.0 % State taxes 3.2 4.2 1.3 Change in valuation allowance ( 22.0 ) ( 26.1 ) ( 22.8 ) Federal and state tax credits 1.3 1.4 1.2 Stock-based compensation expense ( 2.0 ) 1.2 8.1 Non-deductible permanent expenses ( 0.7 ) ( 0.2 ) ( 0.1 ) Effect of deferred tax adjustment — 0.2 ( 0.7 ) Non-deductible compensation ( 1.0 ) ( 1.9 ) ( 8.2 ) Effective income tax rate ( 0.2 ) % ( 0.2 ) % ( 0.2 ) %
Summary of Components of the Deferred Tax Assets and liabilities	The major components of deferred tax assets and liabilities were as follows as of the dates indicated (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 161,189 $ 131,705 Tax credits 16,343 14,172 Accrual and reserves 4,907 4,509 Tangible and intangible assets 2,894 2,143 Stock-based compensation expense 4,596 4,686 Capitalized research costs 29,663 25,730 Other deferred tax asset 3,812 2,876 Gross deferred tax assets 223,404 185,821 Valuation allowance ( 222,061 ) ( 184,298 ) Net deferred tax assets $ 1,343 $ 1,523 December 31, 2023 2022 Deferred tax liabilities: Right-of-use assets $ ( 1,343 ) $ ( 1,523 ) Gross deferred tax liabilities $ ( 1,343 ) $ ( 1,523 )
Summary of Reconciliation of the Total Unrecognized Tax Benefits	A reconciliation of the total unrecognized tax benefits for the periods presented was as follows (in thousands): December 31, 2023 2022 Balance, beginning of year $ 3,027 $ 2,190 Increase related to prior years positions — 37 Decrease related to current year positions — — Increase related to current year positions 754 800 Balance, end of year $ 3,781 $ 3,027

Net Loss per Share (Tables)

Net Loss per Share (Tables)	12 Months Ended
	Dec. 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 have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Years Ended December 31, 2023 2022 2021 Stock options to purchase common stock 1,935 2,602 3,533 Restricted stock units 2,593 1,593 581 Performance stock units 197 47 17 Shares committed under ESPP 318 90 37 Warrant to purchase common stock 63 63 63 Total 5,106 4,395 4,231

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring [Abstract]
Schedule of Restructuring cost	Restructuring costs are recorded in the statements of operations as follows (in thousands): Year Ended December 31, 2023 Cost of revenue $ 129 Research and development 739 Sales and marketing 1,294 General and administrative 370 Total $ 2,532

Description of Business - Addit

Description of Business - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2024	Dec. 11, 2023
Description Of Business [Line Items]
Net loss	$ 172,797	$ 162,956	$ 131,935
Accumulated deficit	(961,747)	(788,950)
Restricted cash	3,329	$ 3,311
Cash, cash equivalents, restricted cash and short-term investments	206,700
SLR Term Loan Facility
Description Of Business [Line Items]
Term Loan	$ 66,500
Line of credit, maximum borrowing capacity				$ 66,500	$ 250,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Impairment losses		$ 0	$ 0
Warranty period		1 year
Capitalized contract cost amortization period description		The Company applies the practical expedient to expense the commissions as incurred as the expected amortization period is one year or less.
Restricted cash		$ 3,329,000	3,311,000
Advertising costs		0	0	$ 0
Matching contributions		1,700,000	1,400,000
Operating lease right-of-use assets		$ 5,375,000	$ 6,117,000
Number Of Operating Segments | Segment		1
Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets		2 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets		5 years
Capitalized contract cost, amortization period		1 year
Four Zero One K Plan Member
Summary Of Significant Accounting Policies [Line Items]
Percentage Of Employees Deferrals Required To Match Higher	100%
Four Zero One K Plan Member | Maximum
Summary Of Significant Accounting Policies [Line Items]
Percentage Of Employees Deferrals Required To Match Higher	2%
MEXICO
Summary Of Significant Accounting Policies [Line Items]
Operating lease right-of-use assets		$ 9,800,000
Revenue Benchmark | Customer Concentration Risk | Largest Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage		13%	14%	30%
Revenue Benchmark | Customer Concentration Risk | Customer 2
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage				15%
Accounts Receivable | Customer Concentration Risk | Customer 1
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage		14%
Accounts Receivable | Customer Concentration Risk | 1 Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage			13%

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Revenue by Source (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenue	$ 130,376	$ 115,375	$ 102,602
Consoles Product
Disaggregation Of Revenue [Line Items]
Revenue	61,331	64,590	65,133
Consumables Product
Disaggregation Of Revenue [Line Items]
Revenue	42,206	28,798	19,179
Product Revenue
Disaggregation Of Revenue [Line Items]
Revenue	103,537	93,388	84,312
Service and Other Revenue
Disaggregation Of Revenue [Line Items]
Revenue	$ 26,839	$ 21,987	$ 18,290

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Remaining performance obligations	$ 11.8
Revenue recognized	8.7	$ 6.3	$ 3.2
Consoles Product | Operating Lease Arrangements
Revenue from operating lease arrangements	$ 0.3	$ 2	$ 4.7

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Additional Information (Detail) 1 - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations		$ 11.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
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: 2022-01-01
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 1	$ 11.7
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 1		$ 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	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Unrealized Holding Losses	$ (74)	$ (615)
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	179,629	265,643
Gross Unrealized Holding Gains	143	51
Gross Unrealized Holding Losses	(74)	(615)
Aggregate Fair Value	179,698	265,079
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	44,883	42,834
Aggregate Fair Value	44,883	42,834
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	53,790	133,473
Gross Unrealized Holding Gains	58	9
Gross Unrealized Holding Losses	(32)	(447)
Aggregate Fair Value	53,816	133,035
Fair Value, Recurring | Level 2 | Cash equivalents | US Government-sponsored Enterprises Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs		7,965
Aggregate Fair Value		7,965
Fair Value, Recurring | Level 2 | Short-term investments | US Government-sponsored Enterprises Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	29,645	26,404
Gross Unrealized Holding Gains	24	42
Gross Unrealized Holding Losses	(38)	(14)
Aggregate Fair Value	29,631	26,432
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	18,097	25,136
Gross Unrealized Holding Gains	5
Gross Unrealized Holding Losses	(4)
Aggregate Fair Value	18,098	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	33,214	29,831
Gross Unrealized Holding Gains	56	0
Gross Unrealized Holding Losses	0	(154)
Aggregate Fair Value	$ 33,270	$ 29,677

Summary of breakdown of the ava

Summary of breakdown of the available-for-sale debt securities with unrealized losses - Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 64,877	$ 154,534
Gross Unrealized Holding Losses	(74)	(615)
Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	38,464	133,443
Gross Unrealized Holding Losses	(42)	(499)
Unrealized losses 12 months or greater
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26,413	21,091
Gross Unrealized Holding Losses	(32)	(116)
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26,341	108,394
Gross Unrealized Holding Losses	(32)	(446)
U.S. Treasury securities | Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,416	95,499
Gross Unrealized Holding Losses	(16)	(343)
U.S. Treasury securities | Unrealized losses 12 months or greater
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	17,925	12,895
Gross Unrealized Holding Losses	(16)	(103)
U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,245	16,464
Gross Unrealized Holding Losses	(38)	(14)
U.S. government-sponsored enterprises | Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	18,757	16,464
Gross Unrealized Holding Losses	(22)	(14)
U.S. government-sponsored enterprises | Unrealized losses 12 months or greater
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,488
Gross Unrealized Holding Losses	(16)
Corporate debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	11,291	29,676
Gross Unrealized Holding Losses	(4)	(155)
Corporate debt | Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	11,291	21,480
Gross Unrealized Holding Losses	$ (4)	(142)
Corporate debt | Unrealized losses 12 months or greater
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) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities in unrealized loss position for more than 12 months	$ 22,482
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	134,815
Fair Value term Loan	$ 141,300	$ 100,000

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Remaining Contractual Maturities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Fair Value, Separate Account Investment [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 112,333
Securities in unrealized loss position for more than 12 months	22,482
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	$ 134,815

Balance Sheet Components - Summ

Balance Sheet Components - Summary of cash, cash equivalents and restricted cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 68,509	$ 73,222	$ 182,348
Restricted cash	3,329	3,311	33,311
Total cash, cash equivalents and restricted cash	$ 71,838	$ 76,533	$ 215,659

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 18,706	$ 20,623
Work in process	8,728	9,086
Finished goods	21,781	21,767
Total inventories	$ 49,215	$ 51,476

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Property Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 29,645	$ 26,683
Less: accumulated depreciation and amortization	(16,372)	(10,807)
Property and equipment, net	13,273	15,876
Tablos Under Operating Leases
Property, Plant and Equipment [Line Items]
Total property and equipment	522	714
Computers and Software
Property, Plant and Equipment [Line Items]
Total property and equipment	5,148	4,021
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	1,983	1,768
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	11,602	10,367
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	9,621	5,040
Construction In Progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 769	$ 4,773

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Inventory	$ 3,395	$ 5,585
Research and development expenses	1,050	908
Professional services	1,153	1,261
Customer rebates	2,100	1,364
Other	5,761	7,109
Total accrued expenses and other current liabilities	$ 13,459	$ 16,227

Balance Sheet Components - Ac_2

Balance Sheet Components - Accrued Warranty Liability (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Product Warranties Disclosures [Abstract]
Balance at the beginning of the period	$ 3,620	$ 3,704
Additions charged to cost of product revenue	5,172	5,748
Consumption	(5,080)	(5,832)
Balance at the end of the period	$ 3,712	$ 3,620

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Total depreciation and amortization expense	$ 5,800	$ 5,200	$ 5,200
Restricted cash balance	$ 3,329	$ 3,311	$ 33,311

Commitment and Contingencies (A

Commitment and Contingencies (Additional Information) (Detail) - USD ($) $ in Millions	1 Months Ended
	May 31, 2020	Sep. 30, 2019	Dec. 31, 2023
Commitments And Contingencies [Line Items]
Operating lease option to extend		renewal options at the election of the Company to renew or extend the lease
Operating lease existence of option to extend [true false]		true
Purchase Commitments
Commitments And Contingencies [Line Items]
Open purchase commitments			$ 59.5
San Jose, CA
Commitments And Contingencies [Line Items]
Tenant improvement allowance		$ 2
Operating lease commencement month and year		2020-04
Operating lease expiration month and year		2027-03
San Jose, CA | Standby Letters of Credit
Commitments And Contingencies [Line Items]
Letter of credit issued in lieu of a cash security deposit			0.3
Mexico
Commitments And Contingencies [Line Items]
Operating lease option to extend	renewal options at the election of the Company to renew or extend the lease
Operating lease existence of option to extend [true false]	true
Operating lease commencement month and year	2020-05
Operating lease expiration month and year	2026-08
Mexico | Standby Letters of Credit
Commitments And Contingencies [Line Items]
Letter of credit issued in lieu of a cash security deposit			$ 3

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Components of Lease Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 1,837	$ 1,759	$ 1,759
Variable lease costs	435	329	375
Short-term lease costs	94	170	180
Total lease costs	$ 2,366	$ 2,258	$ 2,314

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Weighted-average Remaining Lease Term and Discount Rate (Detail)	Dec. 31, 2023	Dec. 31, 2022
Operating leases:
Weighted-average remaining lease term (in years)	3 years 4 months 24 days	4 years 3 months 18 days
Weighted-average discount rate	8.80%	8.70%

Commitments and Contingencies_3

Commitments and Contingencies - Maturity of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
2024	$ 2,049
2025	2,107
2026	1,952
Thereafter	901
Total lease payments	7,009
Less: imputed interest	(934)
Present value of operating lease liabilities	6,075
Operating lease liabilities, current	1,593	$ 1,318
Operating lease liabilities, noncurrent	$ 4,482	$ 5,576

Term Loans - Schedule of Term L

Term Loans - Schedule of Term Loan (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Principal of term loan	$ 133,476	$ 100,000
Unamortized debt discount	(3,363)	(3,664)
Term loans, noncurrent	$ 130,113	$ 96,336

Term Loans - Additional Informa

Term Loans - Additional Information (Detail) - USD ($)			12 Months Ended
	Nov. 03, 2022	Jul. 02, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2024	Dec. 11, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Principal of term loan			$ 133,476,000	$ 100,000,000
Loss on extinguishment of term loan			0	(1,367,000)	$ 0
Debt discount on Perceptive Term Loan			3,363,000	3,664,000
Two Senior Secured Credit Facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 300,000,000
SLR Credit Facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			200,000,000
Principal amount outstanding			$ 133,500,000
Cash and cash equivalent maintain percentage			50%
Line of credit, default interest rate			4%
SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 66,500,000	$ 250,000,000
Line of credit, interest rate			10.46%
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
Debt Instrument [Line Items]
Line of credit, percentage of prepayment premium			3%
SLR Term Loan Facility | Second Anniversary
Debt Instrument [Line Items]
Line of credit, percentage of prepayment premium			2%
SLR Term Loan Facility | After Second Anniversary
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 Revolver
Debt Instrument [Line Items]
Line of credit, 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, collateral monitoring fee			0.10%
Line of credit, borrowing base, percentage			50%
Line of credit, borrowing base, amount			$ 5,000,000
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
Debt Instrument [Line Items]
Line of credit, termination fee			2%
SLR Revolver | Second Anniversary
Debt Instrument [Line Items]
Line of credit, termination fee			1%
SLR Revolver | After Second Anniversary
Debt Instrument [Line Items]
Line of credit, termination fee			0.50%
SLR Revolver | Initial Revolver Commitment
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 25,000,000
Line of credit, non-refundable facility fee			187,500
SLR Revolver | Additional Tranche
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			25,000,000
Line of credit, non-refundable facility fee			187,500
Minimum | SLR Credit Facilities | Second Revenue Milestone
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			50,000,000
Minimum | SLR Revolver
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	50,000,000
Maximum | SLR Credit Facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	250,000,000		250,000,000
Maximum | SLR Credit Facilities | Second Revenue Milestone
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			300,000,000
Maximum | SLR Revolver
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 50,000,000
Secured Overnight Financing Rate (SOFR) | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, interest rate			5.15%
Secured Overnight Financing Rate (SOFR) | SLR Revolver
Debt Instrument [Line Items]
Line of credit, interest rate			3.20%
Interest Rate Floor | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, interest rate			2.75%
Interest Rate Floor | SLR Revolver
Debt Instrument [Line Items]
Line of credit, interest rate			2.75%
SVB Term Loan
Debt Instrument [Line Items]
Principal of term loan		$ 30,000,000
Loan maturity date		Nov. 01, 2025
Description of payment terms			Payments under the SVB Term Loan were for interest only through May 2023, and then 30 monthly principal and interest payments from June 2023 until maturity.
Debt instrument interest only payments end date		2023-05
Debt instrument principal repayment period		30 months
Debt interest rate			3.75%
Early repayment fee	300,000
Debt instrument, final payment amount	$ 2,000,000
Loss on extinguishment of term loan				$ 1,400,000
SVB Term Loan | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Term A Loan
Debt Instrument [Line Items]
Principal amount outstanding			$ 133,500,000					$ 133,500,000
Term A Loan | SLR Credit Facilities
Debt Instrument [Line Items]
Proceeds from line of credit			133,500,000
Term A Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity							100,000,000
Line of credit, non-refundable facility fee			750,000
Term B Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity							100,000,000
Line of credit, non-refundable facility fee			750,000
Term B-1 Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity							33,500,000
Term B-2 Loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 66,500,000
Term B-2 Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity							66,500,000
Term C Loan | SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity							$ 50,000,000
Line of credit, non-refundable facility fee			$ 375,000

Term Loans - Summary of Debt Ma

Term Loans - Summary of Debt Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 0
2025	0
2026	11,123
2027	122,353
Total principal payments	133,476
Unamortized debt discount	(3,363)	$ (3,664)
Total term loan, net of debt discount	$ 130,113

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Additional Information) (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Reserved Shares of Common Stock on Converted Basis for Issuance (Details)	Dec. 31, 2023 shares
Class of Stock [Line Items]
Common stock shares reserved for issuance	1,204,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Sep. 30, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares reserved for issuance			1,204,000
Earned units vesting percentage			50%
Outstanding Stock Options			1,935	2,602
Stock-based compensation expense			$ 38,634,000	$ 27,203,000	$ 17,445,000
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage			25%
Total intrinsic value of options exercised			$ 9,900,000	$ 22,200,000	61,000,000
Stock-based compensation expense					$ 4,300,000
Estimated weighted average period over which unamortized share-based compensation are expected to be recognize			1 year 1 month 24 days
Total unrecognized stock-based compensation expense			$ 3,300,000
Employee Stock Option | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Grant Date Fair Value of Options granted to Employees				$ 18.56	$ 24.74
Total Fair Value of Options Vested			$ 3,600,000	$ 6,100,000	$ 24,500,000
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Fair Value of Options Vested				$ 9,900,000
Performance Stock Units | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance based units approved based on performance relative to specified revenue targets			200%
Performance Stock Units | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance based units approved based on performance relative to specified revenue targets			0%
RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage	25%
Share Based Compensation Arrangement By Share Based Payment Award Shares Percentage of Issued In Period To CEO			50%
Share Based Compensation Arrangement By Share Based Payment Award Shares Percentage of Issued In Period To Executive officers			80%
Total Fair Value of Options Vested			$ 24,900,000		$ 0
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. RSUs with a service-based vesting condition granted to a grantee prior to February 2022 generally vest at a rate of 25% on the first anniversary of the original vesting date
Estimated weighted average period over which unamortized share-based compensation are expected to be recognize			1 year 9 months 10 days
Total unrecognized stock-based compensation expense			$ 45,700,000
Performance Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Shares Percentage of Issued In Period To CEO			50%
Share Based Compensation Arrangement By Share Based Payment Award Shares Percentage of Issued In Period To Executive officers			20%
Home PSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Actual performance, percentage			250%
Home PSU | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Actual performance, percentage			200%
Home PSU | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Actual performance, percentage			0%
Relative TSR PSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Actual performance, percentage			250%
Relative TSR PSU | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Actual performance, percentage			150%
Relative TSR PSU | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Actual performance, percentage			75%
2020 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares reserved for issuance			4,768,000			3,665,000
Percentage Of Maximum Number of Common Stock Outstanding						4%
Contractual Term			10 years
Percentage of fair market value of common stock					100%
Employees Share Purchase Plan (ESPP)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares reserved for issuance						687,000
Percentage Of Maximum Number of Common Stock Outstanding						1%
Percentage of fair market value of common stock		85%
ESPP Offering Period		6 months
Estimated weighted average period over which unamortized share-based compensation are expected to be recognize			9 months 21 days
Total unrecognized stock-based compensation expense			$ 5,300
Employees Share Purchase Plan (ESPP) | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Grant Date Fair Value of Options granted to Employees			$ 8.27	$ 16.23	$ 13.9
Eligible Compensation Percentage to Purchase Common Stock		15%
Employees Share Purchase Plan (ESPP) | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Grant Date Fair Value of Options granted to Employees			$ 3.25	$ 4.89	$ 13.25

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding Options, Balance as of December 31, 2022 | shares	2,602
Granted | shares	0
Exercised | shares	(585)
Forfeited and expired | shares	(82)
Outstanding Options, Balance as of December 31, 2023 | shares	1,935
Exercisable as of December 31, 2023 | shares	1,777
Weighted-Average Exercise Price, Balance as of December 31, 2022 | $ / shares	$ 13.97
Weighted-Average Exercise Price, Granted | $ / shares	0
Weighted-Average Exercise Price, Exercised | $ / shares	4.99
Weighted-Average Exercise Price, Forfeited and Expired | $ / shares	40.1
Weighted-Average Exercise Price, Balance as of December 31, 2023 | $ / shares	15.58
Weighed-Average Exercise Price, Exercisable as of December 31, 2023 | $ / shares	$ 13.22
Weighted-Average Remaining Term	5 years 3 months 7 days
Weighted-Average Remaining Contractual Term, Exercisable as of December 31, 2023	5 years 1 month 6 days
Aggregate Intrinsic Value, Balance as of December 31, 2023 | $	$ 1,406
Aggregate Intrinsic Value, Exercisable as of December 31, 2023 | $	$ 1,406

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Valuation Assumptions (Details) - Employee Stock Option	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	6 years 29 days
Expected volatility	55%
Risk-free interest rate	1.74%
Dividend yield	0%	0%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)		5 years 11 months 12 days
Expected volatility		53.90%
Risk-free interest rate		0.66%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)		6 years 29 days
Expected volatility		55.30%
Risk-free interest rate		1.36%

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Performance Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding as of December 31, 2022 | shares	239
Granted | shares	266
Vested | shares	0
Forfeited | shares	(73)
Outstanding as of December 31, 2023 | shares	432
Weighted-Average Grant Date Fair Value Per Share, Outstanding as of December 31, 2022 | $ / shares	$ 26.5
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares	11.06
Weighted-Average Grant Date Fair Value Per Share, Vested | $ / shares	0
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares	32.31
Weighted-Average Grant Date Fair Value Per Share,Outstanding as of December 31, 2023 | $ / shares	$ 22.5
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding as of December 31, 2022 | shares	1,593
Granted | shares	2,321
Vested | shares	(708)
Forfeited | shares	(612)
Outstanding as of December 31, 2023 | shares	2,594
Weighted-Average Grant Date Fair Value Per Share, Outstanding as of December 31, 2022 | $ / shares	$ 34.75
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares	18.09
Weighted-Average Grant Date Fair Value Per Share, Vested | $ / shares	35.22
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares	27.02
Weighted-Average Grant Date Fair Value Per Share,Outstanding as of December 31, 2023 | $ / shares	$ 21.54

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Employees Stock Purchase Plan (ESPP) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employees Share Purchase Plan (ESPP)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)			6 months
Dividend yield	0%	0%	0%
Employees Share Purchase Plan (ESPP) | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	2 years	2 years
Expected volatility	61.60%	58%	43.80%
Risk-free interest rate	5.40%	3.48%	0.07%
Grant Date Fair Value	$ 8.27	$ 16.23	$ 13.9
Employees Share Purchase Plan (ESPP) | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	5 months 26 days	5 months 26 days
Expected volatility	53.30%	41.10%	41%
Risk-free interest rate	4.81%		0.06%
Grant Date Fair Value	$ 3.25	$ 4.89	$ 13.25
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)		6 years 29 days
Expected volatility		55%
Risk-free interest rate		1.74%
Dividend yield		0%	0%
Employee Stock Option | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)			6 years 29 days
Expected volatility			55.30%
Risk-free interest rate			1.36%
Employee Stock Option | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)			5 years 11 months 12 days
Expected volatility			53.90%
Risk-free interest rate			0.66%
Employee Stock Option | Employees Share Purchase Plan (ESPP) | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		0.60%

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	$ 38,634	$ 27,203	$ 17,445
Cost of Revenue
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	1,805	701	269
Research and Development
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	10,538	6,845	3,809
Sales and Marketing
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	12,419	10,269	5,897
General and Administrative
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	$ 13,872	$ 9,388	$ 7,470

Income Taxes - Loss before Prov

Income Taxes - Loss before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
Domestic	$ (158,095)	$ (153,226)	$ (128,400)
Foreign	(14,179)	(9,435)	(3,336)
Loss before provision for income taxes	$ (172,274)	$ (162,661)	$ (131,736)

Income Taxes (Additional Inform

Income Taxes (Additional Information) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Provision for income taxes	$ 523	$ 295	$ 199
Valuation allowance	37,800	42,600	30,700
Operating loss carryforward	643,400
Net operating loss carryforwards	$ 161,189	131,705
Change in Unrecognized Tax Benefits	The Company does not believe it is reasonably possible that its unrecognized tax benefits will significantly change within the next twelve months.
Federal
Income Taxes [Line Items]
Operating loss carryforward	$ 515,600
Expiration year	2017
Operating loss carryforward expiration beginning	$ 127,800
Open year examination	three
Federal | Mexico
Income Taxes [Line Items]
Provision for income taxes	$ 500	$ 300	$ 200
Federal | Research and Development
Income Taxes [Line Items]
Tax credit carryforward, amount	$ 8,800
Tax credit carry forward expiration year	2030
Federal | Maximum
Income Taxes [Line Items]
Expiration year	2037
Federal | Minimum
Income Taxes [Line Items]
Expiration year	2024
State
Income Taxes [Line Items]
Operating loss carryforward	$ 380,200
Net operating loss carryforwards	108,300
Operating loss carryforward expiration beginning	$ 271,900
Open year examination	four
State | Research and Development
Income Taxes [Line Items]
Tax credit carryforward, amount	$ 7,500
State | Maximum
Income Taxes [Line Items]
Expiration year	2043
State | Minimum
Income Taxes [Line Items]
Expiration year	2024
Foreign
Income Taxes [Line Items]
Open year examination	five

Income Taxes - Summary of Effec

Income Taxes - Summary of Effective Tax Rate of the Provision for Income Taxes (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21%	21%	21%
State taxes	3.20%	4.20%	1.30%
Change in valuation allowance	(22.00%)	(26.10%)	(22.80%)
Federal and state tax credits	1.30%	1.40%	1.20%
Stock-based compensation expense	(2.00%)	1.20%	8.10%
Non-deductible permanent expenses	(0.70%)	(0.20%)	(0.10%)
Effect of deferred tax adjustment	(0.00%)	(0.20%)	(0.70%)
Non-deductible compensation	(1.00%)	(1.90%)	(8.20%)
Effective income tax rate	(0.20%)	(0.20%)	(0.20%)

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of the Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 161,189	$ 131,705
Tax credits	16,343	14,172
Accrual and reserves	4,907	4,509
Tangible and intangible assets	2,894	2,143
Stock-based compensation expense	4,596	4,686
Capitalized research costs	29,663	25,730
Other deferred tax asset	3,812	2,876
Gross deferred tax assets	223,404	185,821
Valuation allowance	(222,061)	(184,298)
Net deferred tax assets	1,343	1,523
Deferred tax liabilities:
Right-of-use assets	(1,343)	(1,523)
Gross deferred tax liabilities	$ (1,343)	$ (1,523)

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of the Total Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Balance, beginning of year	$ 3,027	$ 2,190
Increase related to prior years positions		37
Increase related to current year positions	754	800
Balance, end of year	$ 3,781	$ 3,027

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	5,106	4,395	4,231
Performance Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	197	47	17
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	318	90	37
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	1,935	2,602	3,533
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	2,593	1,593	581
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	63

Restructuring (Additional Infor

Restructuring (Additional Information) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Costs [Abstract]
Severance Costs	$ 2.5
Accrued Restucturing Compensation	$ 0.9

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Research and development	$ 57,307	$ 48,855	$ 36,741
Sales and marketing	96,232	89,482	65,070
General and administrative	45,231	$ 40,515	$ 36,316
Restructuring Cost [Member]
Restructuring Cost and Reserve [Line Items]
Cost of revenue	129
Research and development	739
Sales and marketing	1,294
General and administrative	370
Restructuring Costs, Total	$ 2,532

Subsequent Event (Additional In

Subsequent Event (Additional Information) (Details) - SLR Term Loan Facility - USD ($) $ in Millions	Jan. 31, 2024	Jan. 02, 2024	Dec. 11, 2023
Subsequent Event [Line Items]
Line of credit, maximum borrowing capacity	$ 66.5		$ 250
Subsequent Event
Subsequent Event [Line Items]
Line of credit, borrowing base, amount		$ 66.5
Line of credit, maximum borrowing capacity		$ 200