Outset Medical (OM) S-3/A 26 Feb 25 Shelf registration (amended) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2024
Document Information [Line Items]
Document Type	S-3/A
Amendment Flag	true
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
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Amendment Description	Amendment No. 1
Business Contact [Member]
Document Information [Line Items]
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
Contact Personnel Name	Leslie Trigg

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 124,014	$ 68,509
Short-term investments	34,671	134,815
Accounts receivable, net	35,619	32,980
Inventories	59,387	49,215
Prepaid expenses and other current assets	4,530	5,700
Total current assets	258,221	291,219
Restricted cash	3,329	3,329
Property and equipment, net	8,133	13,273
Operating lease right-of-use assets	3,940	5,375
Other assets	2,172	605
Total assets	275,795	313,801
Current liabilities:
Accounts payable	3,862	5,827
Accrued compensation and related benefits	16,821	19,005
Accrued expenses and other current liabilities	8,205	13,459
Accrued warranty liability	1,938	3,712
Deferred revenue, current	12,753	11,727
Operating lease liabilities, current	1,799	1,593
Total current liabilities	45,378	55,323
Accrued interest	2,695	896
Deferred revenue	844	101
Operating lease liabilities, noncurrent	2,684	4,482
Term loan	197,375	130,113
Total liabilities	248,976	190,915
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, 2024 and 2023	0	0
Common stock, $0.001 par value; 300,000 shares authorized as of December 31, 2024 and 2023; 52,944 and 50,317 shares issued and outstanding as of December 31, 2024 and 2023, respectively	53	50
Additional paid-in capital	1,116,447	1,084,515
Accumulated other comprehensive income	42	68
Accumulated deficit	(1,089,723)	(961,747)
Total stockholders' equity	26,819	122,886
Total liabilities and stockholders' equity	$ 275,795	$ 313,801

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
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	52,944,000	50,317,000
Common stock, shares outstanding	52,944,000	50,317,000

Statements of Operations

Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue:
Revenue	$ 113,689	$ 130,376	$ 115,375
Cost of revenue:
Cost of revenue	75,125	101,376	97,542
Gross profit	38,564	29,000	17,833
Operating expenses:
Research and development	38,397	57,307	48,855
Sales and marketing	70,044	96,232	89,482
General and administrative	43,498	45,231	40,515
Total operating expenses	151,939	198,770	178,852
Loss from operations	(113,375)	(169,770)	(161,019)
Interest income and other income, net	9,761	10,171	3,291
Interest expense	(23,871)	(12,675)	(3,566)
Loss on extinguishment of term loan	0	0	(1,367)
Loss before provision for income taxes	(127,485)	(172,274)	(162,661)
Provision for income taxes	491	523	295
Net loss	$ (127,976)	$ (172,797)	$ (162,956)
Net loss per share, basic	$ (2.46)	$ (3.48)	$ (3.38)
Net loss per share, diluted	$ (2.46)	$ (3.48)	$ (3.38)
Shares used in computing net loss per share, basic	51,951	49,588	48,161
Shares used in computing net loss per share, diluted	51,951	49,588	48,161
Product Revenue
Revenue:
Revenue	$ 80,977	$ 103,537	$ 93,388
Cost of revenue:
Cost of revenue	46,449	74,454	82,510
Service and Other Revenue
Revenue:
Revenue	32,712	26,839	21,987
Cost of revenue:
Cost of revenue	$ 28,676	$ 26,922	$ 15,032

Statements of Comprehensive Los

Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (127,976)	$ (172,797)	$ (162,956)
Other comprehensive (loss) income:
Unrealized (loss) gain on available-for-sale securities	(26)	632	(380)
Comprehensive loss	$ (128,002)	$ (172,165)	$ (163,336)

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, 2021	$ 374,081	$ 47	$ 1,000,212	$ (184)	$ (625,994)
Beginning Balance (shares) at Dec. 31, 2021		47,241,000
Issuance of common stock through employee stock purchase plan	4,202	$ 0	4,202
Issuance of common stock through employee stock purchase plan (shares)		193,000
Issuance of common stock for settlement of RSUs (shares)		241,000
Stock option exercises	3,840	$ 1	3,839
Stock option exercises (shares)		790,000
Stock-based compensation expense	27,203		27,203
Unrealized gain (loss) on available-for-sale securities	(380)			(380)
Net 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		48,465,000
Issuance of common stock through employee stock purchase plan	7,510	$ 1	7,509
Issuance of common stock through employee stock purchase plan (shares)		559,000
Issuance of common stock for settlement of RSUs (shares)		708,000
Stock option exercises	2,917	$ 1	2,916
Stock option exercises (shares)		585,000
Stock-based compensation expense	38,634		38,634
Unrealized gain (loss) on available-for-sale securities	632			632
Net 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		50,317,000
Issuance of common stock through employee stock purchase plan	2,201	$ 1	2,200
Issuance of common stock through employee stock purchase plan (shares)		1,040,000
Issuance of common stock for settlement of RSUs	295	$ 2	293
Issuance of common stock for settlement of RSUs (shares)		1,515,000
Stock option exercises	$ 83	$ 0	83
Stock option exercises (shares)	72	72,000
Stock-based compensation expense	$ 29,356		29,356
Unrealized gain (loss) on available-for-sale securities	(26)			(26)
Net loss	(127,976)				(127,976)
Ending Balance at Dec. 31, 2024	$ 26,819	$ 53	$ 1,116,447	$ 42	$ (1,089,723)
Ending Balance (shares) at Dec. 31, 2024		52,944,000

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (127,976)	$ (172,797)	$ (162,956)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	29,356	38,634	27,203
Depreciation and amortization	5,728	5,810	5,169
Non-cash lease expense	1,435	1,271	1,114
Non-cash interest expense	2,574	1,828	381
Accretion (amortization) of discount (premium) on investments, net	(4,720)	(6,369)	449
Provision for inventories	561	733	2,610
Loss on disposal of property and equipment	53	106	39
Allowance for credit losses	2,374	184	37
Loss on extinguishment of term loan	0	0	1,367
Changes in operating assets and liabilities:
Accounts receivable	(5,012)	(5,094)	(2,506)
Inventories	(10,857)	1,647	(14,730)
Prepaid expenses and other assets	784	739	(1,215)
Accounts payable	(1,948)	5,312	(1,281)
Accrued payroll and related benefits	(1,889)	(2,515)	(3,428)
Accrued expenses and other current liabilities	(5,168)	(2,621)	1,811
Accrued warranty liability	(1,774)	91	(83)
Deferred revenue	1,769	3,015	2,161
Operating lease liabilities	(1,593)	(1,347)	(1,150)
Accrued interest	0	0	(721)
Net cash used in operating activities	(116,303)	(131,373)	(145,729)
Cash flows from investing activities:
Purchases of property and equipment	(912)	(3,440)	(8,325)
Purchases of investment securities	(156,584)	(172,284)	(261,154)
Sales and maturities of investment securities	261,434	258,750	203,184
Net cash (used in) provided by investing activities	103,938	83,026	(66,295)
Cash flows from financing activities:
Proceeds from stock option exercises and ESPP purchases	2,284	10,427	8,042
Proceeds from issuance of term loan, net of issuance costs	66,524	33,225	96,059
Repayment of term loan and extinguishment costs	0	0	(31,203)
Payment of deferred financing costs	(938)	0	0
Net cash provided by financing activities	67,870	43,652	72,898
Net increase (decrease) in cash, cash equivalents and restricted cash	55,505	(4,695)	(139,126)
Cash, cash equivalents and restricted cash as of beginning of period	71,838	76,533	215,659
Cash, cash equivalents and restricted cash as of end of period	127,343	71,838	76,533
Summary of cash, cash equivalents and restricted cash reported within the balance sheets:
Cash and cash equivalents	124,014	68,509	73,222
Restricted cash	3,329	3,329	3,311
Total cash, cash equivalents and restricted cash	127,343	71,838	76,533
Supplemental cash flow disclosures:
Cash paid for income taxes	593	491	385
Cash paid for interest	20,685	10,847	3,185
Cash paid for amounts included in the measurement of operating lease liabilities	1,593	1,347	1,150
Supplemental non-cash investing and financing activities:
Capital expenditures included in accounts payable and accrued expenses	31	159	167
Right-of-use assets obtained in exchange for lease liabilities	0	528	0
Transfer of inventories to property and equipment	148	119	28
Deferred offering costs included in accrued expenses	266	0	750
Transfer of property and equipment to inventories	$ 24	$ 0	$ 199

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2024
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 ® on-demand 35-inch simple-to-use two-way Liquidity Since inception, the Company has incurred net losses and negative cash flows from operations. For the years ended December 31, 2024, 2023, and 2022, the Company incurred net losses of $128.0 million, $172.8 million and $163.0 million, respectively, and cash outflow from operating activities of $116.3 million, $131.4 million and $145.7 million, respectively. As of December 31, 2024, the Company had an accumulated deficit of $1.1 billion. As of December 31, 2024, the Company had a total cash, cash equivalents, restricted cash, and short-term investments balance of $162.0 million. In January 2025, the Company entered into securities purchase agreements (Securities Purchase Agreements) with various investors pursuant to which it sold 843,908 shares of its Series A Non-Voting In addition, in January 2025, the Company entered into a credit agreement and guaranty (the Perceptive Credit Agreement) with Perceptive Credit Holdings IV, LP, as administrative agent (Agent) and the lenders from time to time party thereto, which provided a $100 million 5-year Starting January 2025, the Company is required to comply with certain covenants under the Perceptive Credit Agreement including, among others, requirements as to financial reporting, restrictions on its ability to incur additional indebtedness and to pay any dividends or other distributions on capital stock, maintenance of a minimum cash balance, and achievement of certain specified trailing twelve-month net revenue targets. If the Company fails to comply with any covenants, payments or other terms of the Perceptive Credit Agreement and such failure constitutes an event of default, such event of default would give Agent the right to declare all borrowings outstanding, together with accrued and unpaid interest and fees, to be immediately due and payable. Further details of obligations under the Perceptive Credit Agreement are described in Note 13. While the Company has taken actions to reduce operating expenses and working capital to align with anticipated revenue growth including implementing restructuring plans to streamline its overall organizational structure and renegotiating commitments with suppliers to reduce inventory, management expects to continue to incur operating losses in the near term while the Company makes investments to support its anticipated growth. Furthermore, on September 23, 2024, the Company received notice from the Listing Qualifications staff of the Nasdaq Stock Market LLC (Nasdaq) that it no longer complied with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. On December 24, 2024, Nasdaq notified the Company that it had regained compliance with the minimum bid price requirement, as its stock had maintained a closing bid price above $1.00 for 15 consecutive trading days. Howeve r, on February 24, 2025, the Company received a second notice from Nasdaq of failure to comply with the minimum bid price requirement. If the Company is unable to regain compliance with the minimum bid price requirement within the applicable compliance period or otherwise maintain compliance with other applicable Nasdaq listing rules, it may not be able to maintain the listing of its common stock on Nasdaq, which could adversely affect its ability to issue additional securities or obtain additional financing on terms acceptable to it, or at all. Management believes that the Company’s existing cash, cash equivalents, short-term investments, cash generated from sales, and proceeds recently received from the debt financing as well as proceeds received from the sale of Series A Preferred Stock described in Note 13, 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, 2024
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, 2024, 2023 and 2022, the Company’s largest customer accounted for 16%, 13%, and 14% of revenues, respectively. 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. 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 16% and 14% of accounts receivable as of December 31, 2024 and 2023. 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 COVID-19 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 The Company writes off accounts receivable when the Company has exhausted collection efforts without success, and payments subsequently received on such receivables are credited to the allowance in the period the payment is received. Available-for-sale primarily zero-loss 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 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 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 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, 2024 and 2023. 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 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 non-lease Accrued Warranty Liability The Company generally provides a one-year 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 non-lease non-lease 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 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 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 Advertising Costs Advertising costs are expensed as incurred. The advertising costs for years ended December 31, 2024, 2023, and 2022 were not 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 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- post-tax Segment 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. Tablo is a single enterprise solution that can be utilized in both the acute and home care settings. The Company derives revenue primarily in the United States and operates a manufacturing facility in Mexico. As the Company manages its business activities on a consolidated basis, the Company has one reportable segment. The Company’s chief operating decision maker (CODM), its Chief Executive Officer, reviews financial information on an aggregate basis for the purposes of allocating resources and evaluating Recently Adopted Accounting Pronouncement In November 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures 2023-07), 2023-07 Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures 2023-09), 2023-09 In March 2024, the SEC adopted rules intended to enhance and standardize climate-related disclosures in registration statements and annual reports. The new rules will require disclosure of material climate-related risks, including the material impacts of these risks to the Company, the quantification of material impacts to the Company as a result of severe weather events and other natural conditions and Board of Directors’ oversight and risk management activities. The new rules follow a compliance phase-in gas-related In November 2024, the FASB issued ASU No. 2024-03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): 2024-03), 2024-03

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 Consoles $ 29,832 $ 61,331 $ 64,590 Consumables 51,145 42,206 28,798 Total product revenue 80,977 103,537 93,388 Service and other revenue 32,712 26,839 21,987 Total revenue $ 113,689 $ 130,376 $ 115,375 For the years ended December 31, 2024, 2023 and 2022, $0.2 million, $0.3 million and $2.0 million, respectively, of consoles revenue were from console operating lease arrangements. Remaining Performance Obligations and Contract Liabilities As of December 31, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations related to service agreements that are unsatisfied or partially unsatisfied was $13.6 million, which is recorded as deferred revenue on the Company’s balance sheet. Of that amount, $12.8 million will be recognized as revenue during the year ended December 31, 2025 and $0.8 million thereafter. The contract liabilities consist of deferred revenue which represents payments received in advance of revenue recognition. During the years ended December 31, 2024, 2023 and 2022, the Company recognized $11.6 million, $8.7 million and $6.3 million, respectively, of previously deferred revenue.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
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, 2024 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 110,979 $ —  $ —  $ 110,979 Short-term investments: Corporate debt Level 2 34,628 43 (1 ) 34,671 Total cash equivalents and short-term investments $ 145,607 $ 43 $ (1 ) $ 145,650 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 debt securities 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 short-term investments $ 179,629 $ 143 $ (74 ) $ 179,698 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 December 31, 2024 Unrealized losses less Unrealized losses 12 Total Fair Unrealized Fair Unrealized Fair Unrealized Corporate debt $ 2,994 $ (1 ) $ —  $ —  $ 2,994 $ (1 ) Total $ 2,994 $ (1 ) $ —  $ —  $ 2,994 $ (1 ) December 31, 2023 Unrealized losses less Unrealized losses 12 Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities $ 8,416 $ (16 ) $ 17,925 $ (16 ) $ 26,341 $ (32 ) U.S. government-sponsored enterprises debt securities 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 ) The unrealized losses on the Company’s available-for-sale 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, 2024 and 2023, the Company did not recognize credit loss related to available-for-sales As of December 31, 2024, the remaining contractual maturities for short-term investments were as follows (in thousands): Aggregate Fair Value Due within one year $ 33,352 After one but within five years 1,319 Total $ 34,671 The estimated fair value of the term loans as of December 31, 2024 and 2023 was $212.1 million and $141.3 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, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	5. Balance Sheet Components Restricted Cash As of December 31, 2024 and 2023, 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). Accounts Receivable The following table presents the activity in the Company’s allowance for credit losses (in thousands): Balance as of December 31, 2023 $ 203 Increase in allowance 2,381 Write-offs (7 ) Balance as of December 31, 2024 $ 2,577 Inventories Inventories consist of the following (in thousands): December 31, 2024 2023 Raw materials $ 25,703 $ 18,706 Work in process 9,973 8,728 Finished goods 23,711 21,781 Total inventories $ 59,387 $ 49,215 Property and Equipment, net Property and equipment, net consisted of the following (in thousands): December 31, 2024 2023 Tablos under operating leases $ 238 $ 522 Computers and software 4,783 5,148 Furniture and fixtures 1,910 1,983 Machinery and equipment 11,905 11,602 Leasehold improvements 9,685 9,621 Construction in progress 637 769 Total property and equipment $ 29,158 $ 29,645 Less: accumulated depreciation and amortization (21,025 ) (16,372 ) Property and equipment, net $ 8,133 $ 13,273 Total depreciation and amortization expense for the years ended December 31, 2024, 2023 and 2022, was $5.7 million, $5.8 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, 2024 2023 Inventory $ 2,079 $ 3,395 Research and development expenses 219 1,050 Professional services 1,084 1,153 Customer rebates 1,733 2,100 Other 3,090 5,761 Total accrued expenses and other current liabilities $ 8,205 $ 13,459 Accrued Warranty Liability The change in accrued warranty liability is presented in the following table (in thousands): December 31, 2024 2023 Balance as of December 31, 2023 $ 3,712 $ 3,620 Additions charged to cost of product revenue 1,908 5,172 Consumption (3,682 ) (5,080 ) Balance as of December 31, 2024 $ 1,938 $ 3,712

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
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 components of lease costs were as follows (in thousands): Years ended December 31, 2024 2023 2022 Operating lease costs $ 1,892 $ 1,837 $ 1,759 Variable lease costs 351 435 329 Short-term lease costs 115 94 170 Total lease costs $ 2,358 $ 2,366 $ 2,258 The weighted-average remaining lease term and discount rate were as follows: December 31, 2024 2023 Weighted-average remaining lease term (in years) 2.4 3.4 Weighted-average discount rate 8.8 % 8.8 % The maturity of the Company’s operating lease liabilities as of December 31, 2024 were as follows (in thousands): Years Ending December 31: 2025 $ 2,107 2026 1,952 2027 848 2028 53 Total lease payments 4,960 Less: imputed interest (477 ) Present value of operating lease liabilities $ 4,483 Operating lease liabilities, current $ 1,799 Operating lease liabilities, noncurrent $ 2,684 Purchase Commitments The Company’s commitments as of December 31, 2024 were $32.8 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 On August 29, 2024, a purported stockholder class action lawsuit (the Porcelli Complaint), Porcelli, et al. v. Outset Medical, Inc., et al., 5:24-cv-06124-EJD, 5:24-cv-06124-HSG, On November 29, 2024, an Outset stockholder purporting to act on behalf of the Company filed an action in the U.S. District Court for the Northern District of California against current and former members of Outset’s Board of Directors and certain of its officers (“Derivative Defendants”), alleging that the Derivative Defendants breached their fiduciary duties to the Company in connection with the same alleged events and alleged materially false and misleading statements asserted in the class actions described above. The complaint also alleges, in connection with those alleged events, a series of claims for unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets. The complaint seeks unspecified monetary damages and other relief. The cases are at a very early stage and the Company cannot currently estimate the loss or the range of possible losses it may experience in connection with this litigation. In addition, 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. 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, 2024
Debt Disclosure [Abstract]
Term Loan	7. Term Loans Term loans consist of the following (in thousands): December 31, 2024 2023 Principal of term loans $ 200,000 $ 133,476 Unamortized debt discount (2,625 ) (3,363 ) Term loans, noncurrent $ 197,375 $ 130,113 SLR Credit Facilities On November 3, 2022 (the SLR 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 (SLR 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 that are tied to achieving certain specified revenue milestones and limit the maximum principal amount outstanding under the SLR Credit Facilities. As of December 31, 2024, the Company borrowed an aggregate principal amount of $200.0 million under the SLR Term Loan Facility, the full amount available under the borrowing limitations. 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 B-2 Any principal amount outstanding under the Term Loans will accrue interest at a rate per annum equal to one-month non-refundable non-refundable B-1 B-2 non-refundable to occur of (i) the SLR 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 SLR Closing Date, (ii) 2.0% of the principal amount of the Term Loan, if prepaid after the first anniversary of the SLR Closing Date through and including the second anniversary of the SLR Closing Date, or (iii) 1.0% of the principal amount of the Term Loan if prepaid after the second anniversary of the SLR Closing Date and prior to the SLR Maturity Date. SLR Revolver The SLR Revolving Credit Agreement provides for an asset-based revolving credit facility with aggregate revolving commitments of $25.0 million (the Initial Revolver Commitment). The Company may request to increase the aggregate revolving commitments by $25.0 million (the Additional Tranche) to an aggregate amount of $50.0 million, subject to ABL Lender’s approval. Amounts available to be drawn under the SLR Revolver are equal to the lesser of (i) outstanding revolving commitments under the SLR Revolving Credit Agreement and (ii) a borrowing base (the Borrowing Base) equal to the sum of (a) 85% of eligible accounts receivable, plus (b) 25% of eligible inventory (not to exceed the lesser of 50% of the Borrowing Base and $5.0 million), minus (c) customary reserves, minus (d) unposted cash. As a result of the overall borrowing limitations set forth in the SLR Credit Facilities, amounts under the SLR Revolver are not currently available. As of December 31, 2024, the Company has not requested or received ABL Lender’s approval of the Additional Tranche. Any principal amount outstanding under the SLR Revolver will accrue interest at a rate per annum equal to one-month non-refundable non-refundable 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 would have expired on November 1, 2027. Other Terms of the SLR Credit Facilities As security for its obligations under the SLR Credit Facilities, the Company granted SLR 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. The agreements also include a financial covenant that, beginning with the fiscal quarter ended 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 SLR 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 SLR 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 SLR 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. 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 non-cash The annual principal annual payments, excluding interest payments and the final fee, due on the term loans as of December 31, 2024 were as follows (in thousands): Years Ending December 31: 2025 $ —  2026 16,667 2027 183,333 Total principal payments 200,000 Less: unamortized debt discount (2,625 ) Total term loans, net of debt discount $ 197,375 As of December 31, 2024, $200.0 million was outstanding under the SLR Term Loan Facility and no amounts were outstanding under the SLR Revolver. On January 3, 2025, we terminated the SLR Credit Facility Agreements and repaid in full all amounts due under its two existing senior secured credit facilities with (i) SLR Investment Corp. and (ii) ABL lender including the final payment of $7.5 million and termination fee of $0.1 million, using the proceeds from the Perceptive Credit Agreement, together with cash on hand. See Note 13 for more details.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2024
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 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, 2024, 3,498,000 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 the 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, 2023 1,935 $ 15.58 Granted —  —  Exercised (72 ) $ 1.17 Forfeited and expired (478 ) $ 24.42 Outstanding as of December 31, 2024 1,385 $ 13.26 4.43 $ — Exercisable as of December 31, 2024 1,360 $ 12.62 4.40 $ — The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $0.2 million, $9.9 million and $22.2 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, 2024, 2023 and 2022 was $2.1 million, $3.6 million and $6.1 million, respectively. As of December 31, 2024, the total unrecognized stock-based compensation expense related to the stock options was $0.5 million, which will be recognized over a weighted-average period of 0.50 years. 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 the Company’s 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. Annual RSUs granted to non-executive two-year Since 2022, the Company has granted 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 on an annual basis. The PSUs are earned and vest based on achievement against two metrics: • The “Home PSUs” are earned based on the number of patients treating at home on Tablo as of the end of the second or third year following the grant date (Year 2 or Year 3), with earned units vesting either (i) 50% after certification of achievement following the end of Year 2 and 50% at the end of Year 3 or (ii) 100% after certification of achievement following the end of Year 3 (performance-based vesting conditions). • The “Relative TSR PSUs” are earned based on the Company’s relative total stockholder return (Relative TSR) at the end of a two-year pre-determined The number of units earned varies based on actual performance as follows: (i) from 0% to 200% (250% for the CEO) of the target number of the Home PSUs granted, (ii) from 75% to 150% (250% for the CEO) of the target number of Relative TSR PSUs granted in 2022 and 2023 and (iii) from 0% to 200% (250% for the CEO) of the target number of Relative TSR PSUS granted in 2024. The grant date for the 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. Once the grant date for the Home PSUs has been established, the related stock-based compensation expense is recorded based on the forecasted performance, which is reassessed each reporting period based on the probability of achieving the performance conditions. In 2024, the Company also granted a new type of PSU award to executive officers and certain other senior leaders which is earned and vests based on appreciation of the Company’s stock price above pre-determined 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, 2023 2,594 432 $ 21.54 $ 22.50 Granted 4,238 4,809 $ 3.16 $ 1.09 Released (1,516 ) (56 ) $ 18.91 $ 25.63 Forfeited (1,879 ) (3,728 ) $ 9.41 $ 0.80 Outstanding as of December 31, 2024 3,437 1,457 $ 6.26 $ 7.58 The total grant date fair value of restricted stock vested for the years ended December 31, 2024, 2023 and 2022 were $27.2 million, $24.9 million, and $9.9 million, respectively. As of December 31, 2024, the total unrecognized stock-based compensation expense related to the restricted stock was $16.7 million, which will be recognized over a weighted-average period of 2.48 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, 2024, 667,000 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 24-month two-year 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, 2024 2023 2022 Expected term (in years) 0.49 – 2.00 0.49 – 2.00 0.49 – 2.00 Expected volatility 81.7% – 215.2% 53.3% – 61.6% 41.1% – 58.0% Risk-free interest rate 3.84% – 5.2% 4.81% – 5.4% 0.6% – 3.48% Dividend yield 0% 0% 0% Grant Date Fair Value $ 0.15–$2.11 $ 3.25 – $8.27 $ 4.89–$16.23 As of December 31, 2024, the total unrecognized stock-based compensation expense related to the ESPP was $1.7 million, which will be recognized over a weighted-average period of 0.80 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, 2024 2023 2022 Cost of revenue $ 1,372 $ 1,805 $ 701 Research and development 7,291 10,538 6,845 Sales and marketing 6,122 12,419 10,269 General and administrative 14,571 13,872 9,388 Total stock-based compensation expense $ 29,356 $ 38,634 $ 27,203

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 Domestic $ (116,693 ) $ (158,095 ) $ (153,226 ) Foreign (10,792 ) (14,179 ) (9,435 ) Loss before provision for income taxes $ (127,485 ) $ (172,274 ) $ (162,661 ) The provision for income taxes were $0.5 million, $0.5 million and $0.3 million for the years ended December 31, 2024, 2023 and 2022, 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, 2024 2023 2022 Federal statutory income tax rate 21.0 % 21.0 % 21.0 % State taxes 1.1 3.2 4.2 Change in valuation allowance (17.3 ) (22.0 ) (26.1 ) Federal and state tax credits 1.4 1.3 1.4 Stock-based compensation expense (5.3 ) (2.0 ) 1.2 Non-deductible (0.5 ) (0.7 ) (0.2 ) Effect of deferred tax adjustment (0.1 ) —  0.2 Non-deductible (0.7 ) (1.0 ) (1.9 ) Effective income tax rate (0.4 )% (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, 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 180,588 $ 161,189 Tax credits 18,163 16,343 Accrual and reserves 3,137 4,907 Tangible and intangible assets 3,534 2,894 Stock-based compensation expense 2,333 4,596 Capitalized research costs 29,014 29,663 Other deferred tax asset 8,386 3,812 Gross deferred tax assets 245,155 223,404 Valuation allowance (244,165 ) (222,061 ) Net deferred tax assets $ 990 $ 1,343 December 31, 2024 2023 Deferred tax liabilities: Right-of-use $ (990 ) $ (1,343 ) Gross deferred tax liabilities $ (990 ) $ (1,343 ) 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, 2024 and 2023. The change in the valuation allowance during the years ended December 31, 2024, 2023 and 2022 was an increase of $22.1 million, $37.8 million, and $42.6 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 2024, 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, 2024, the Company had a net operating loss carryforward for U.S. federal income tax purposes of $729.4 million. Federal net operating losses of $601.6 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 2025 and continue to expire through 2037. The Company had a total U.S. state net operating loss carryforward of $408.8 million. State net operating losses of $118.5 million do not expire. The remaining state net operating loss carryforward of $290.3 million will begin to expire in 2025 and continue to expire through 2044. As of December 31, 2024, the Company had federal research and development credits of $12.3 million, which will begin to expire in 2030 and state research and development credits of $8.4 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, 2024 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, 2024 2023 Balance, beginning of year $ 3,781 $ 3,027 Increase related to prior years positions —  —  Decrease related to current year positions —  —  Increase related to current year positions 642 754 Balance, end of year $ 4,423 $ 3,781 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 not under examination by income tax authorities in federal, other states, 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, 2024
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, 2024 2023 2022 Stock options to purchase common stock 1,385 1,935 2,602 Restricted stock units 3,437 2,593 1,593 Performance stock units 264 197 47 Shares committed under ESPP 674 318 90 Warrant to purchase common stock 63 63 63 Total 5,823 5,106 4,395

Segment Reporting and geographi

Segment Reporting and geographical information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	11. Segment and Geographic Information The accounting policies of the Company’s reportable segment are the same as those described in the summary of significant accounting policies. The key measure of segment profit or loss that the CODM uses to allocate resources and assess performance is the Company’s net loss, as reported on the accompanying statements of operations. Net income is used to monitor budget versus actual results. There are no intra-entity sales or transfers. All expense categories on the accompanying statements of operations are significant and there are no other expense categories regularly provided to the CODM beyond those disclosed in the accompanying statements of operations. The CODM manages the business using expense information as well as regularly provided budgeted or forecasted expense information for the single operating segment. The measure of segment assets is reported on the balance sheets as total consolidated assets with particular emphasis on the Company’s available liquidity, including its cash, cash equivalents, restricted cash, and short-term investments. 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

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2024
Restructuring [Abstract]
Restructuring	12. Workforce Reduction In order to improve operational efficiencies, reduce operating expenses and streamline its overall organizational structure, the Company implemented two organizational restructuring plans to reduce its workforce in the fourth quarter of 2023 and May 2024 and incurred restructuring charges of $2.5 million in fiscal year 2023 and $2.7 million through the first half of fiscal year 2024 for employee severance and other termination benefits. In connection with steps the Company is taking to help optimize its commercial organization, and to help improve operational efficiencies and reduce operating expenses to align with anticipated revenue growth, in the third quarter of 2024, the Company completed an additional restructuring plan primarily impacting its commercial organization. The Company incurred restructuring charges of $1.4 million in the third quarter of 2024 for employee severance and other termination benefits associated with this restructuring. In January 2025, the Company implemented another restructuring plan and, as a result, estimated and recognized restructuring charges of $1.5 million as of December 31, 2024 for employee severance and other termination benefits. Restructuring accruals are based upon management estimates at the time and are subject to change depending upon changes in facts and circumstances subsequent to the date the original liability was recorded. The following table sets forth severance and related benefits charges included in the statements of operations (in thousands): Years Ended December 31,  2024   2023  Cost of revenue $ 579 $ 129 Research and development 2,107 739 Sales and marketing 2,149 1,294 General and administrative 720 370 Total $ 5,555 $ 2,532 For the year ended December 31, 2024, changes in liabilities resulting from the restructuring accruals, which were recorded in accrued compensation and related benefits on the balance sheet, were as follows (in thousands): Balance as of December 31, 2023 $ 854 Charges 5,555 Payments and other adjustments (4,908 ) Balance as of December 31, 2024 $ 1,501

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	13. Subsequent Event Private Placement On January 3, 2025, the Company entered into the Securities Purchase Agreements with various investors, including certain members of the Company’s Board of Directors and management (the Investors) for the issuance and sale by the Company of an aggregate of 863,340 shares of Series A Preferred Stock, par value $0.001 per share, at a purchase price of $200.00 per share in the Private Placement. Pursuant to the Certificate of Designation that was filed with the Delaware Secretary of State on January 7, 2025 (the Certificate of Designation), each share of Series A Preferred Stock will convert into common stock at the conversion price of $0.80 per share, subject to approval of such conversion being received at the Company’s special meeting of stockholders to be held on March 5, 2025, and other terms and limitations contained in the Certificate of Designation. The Securities Purchase Agreements include customary representations, warranties and covenants by the parties to the agreements. The sale of 843,908 shares of Series A Preferred Stock to institutional investors closed on January 8, 2025, with gross proceeds, before deducting placement agent fees and other offering expenses, of $168.8 million. An additional $3.9 million, for 19,432 shares of Series A Preferred Stock, will be invested by certain members of the Company’s Board of Directors and management, subject to approval of such issuance being received at the Company’s special meeting of stockholders. The Company expects to use the net proceeds from the Private Placement for general corporate purposes. Registration Rights Agreement In connection with the Private Placement, the Company also entered into a Registration Rights Agreement, dated January 3, 2025 (the Registration Rights Agreement), with the Investors, which provides that the Company will register the resale of the shares of common stock issuable upon conversion of the Series A Preferred Stock. The Company is required to prepare and file an initial registration statement with the SEC as soon as reasonably practicable, but in no event later than 60 days after the closing of the Private Placement, and to use best efforts to have the registration statement declared effective within 50 days after the filing of the initial registration statement with the SEC, subject to the approval of the conversion of the Series A Preferred Stock being received at the Company’s special meeting of stockholders. The Registration Rights Agreement also contains customary provisions including, among other things, provisions relating to indemnification and expenses. From the date that is six months following the date of the first issuance of the Series A Preferred Stock (the Six Month Date) until receipt of stockholder approval of the conversion of the Series A Preferred Stock into shares of common stock in accordance with Nasdaq Stock Market Rules (the Conversion Proposal), dividends will accrue, on all issued and outstanding shares of Series A Preferred Stock, at an annual rate of eight percent ( 8 Perceptive Credit Agreement On January 3, 2025, the Company entered into a senior secured credit facility for borrowings up to an aggregate principal amount of $125.0 million pursuant to the Perceptive Credit Agreement among Perceptive Credit Holdings IV, LP, as administrative agent (Agent), the lenders from time to time party thereto and the Company. Pursuant to the terms and conditions of the Perceptive Credit Agreement, the lenders agreed to extend term loans to the Company in an aggregate principal amount of up to $125.0 million, comprised of (i) a term loan of $100.0 million (the Initial Term Loan), which was funded on January 8, 2025 (the Closing Date), and (ii) a delayed draw term loan of up to $25.0 million (the Delayed Draw Loan). The Initial Term Loan and the Delayed Draw Loan are referred to collectively as the Loans. The Delayed Draw Loan is available for funding until July 14, 2027, subject to the achievement of a specific revenue milestone and other customary conditions. On the Closing Date, the Company borrowed the initial term loan in the principal amount of $100.0 million, and used the proceeds of such loan, together with cash on hand, to repay in full the $200.0 million due under its two existing senior secured credit facilities with (i) SLR Investment Corp. and (ii) ABL Lender. After repayment in full, the SLR Credit Facilities were terminated as of the Closing Date. The principal amount outstanding under the Loans will accrue interest at a rate per annum equal to (i) the greater of (a) one-month The Company paid the lenders a non-refundable non-refundable The Company may voluntarily prepay the outstanding Loans, subject to a prepayment premium of (i) 10.0% of the principal amount of the prepaid Loans, if prepaid prior to or on the first anniversary of the Closing Date, (ii) 8.0% of the principal amount of the prepaid Loans, if prepaid after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, (iii) 4.0% of the principal amount of the prepaid Loans, if prepaid after the second anniversary of the Closing Date through and including the third anniversary of the Closing Date, (iv) 2.0% of the principal amount of the prepaid Loans, if prepaid after the third anniversary of the Closing Date through and including the fourth anniversary of the Closing Date, and (v) 0.00% of the principal amount of the prepaid Loans, if prepaid after the fourth anniversary of the Closing Date. The Perceptive Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among others, requirements as to financial reporting and insurance and restrictions on the Company’s ability to dispose of its business or property, to change its line of business, to liquidate or dissolve, to enter into any change in control transaction, to merge or consolidate with any other entity or to acquire all or substantially all the capital stock or property of another entity, to incur additional indebtedness, to incur liens on its property or to pay any dividends or other distributions on capital stock, in each case with certain exceptions. The Company has also agreed to certain financial covenants that require the Company to (i) maintain a minimum cash balance of at least $10.0 million in accounts subject to control agreements in favor of Agent, and (ii) achieve certain trailing twelve-month net revenue targets as set forth in the Perceptive Credit Agreement. In addition, the Perceptive Credit Agreement contains customary events of default that entitle the Agent to cause the Company’s indebtedness under the Perceptive Credit Agreement to become immediately due and payable, and to exercise remedies against the Company and the collateral securing the obligations owed under the Perceptive Credit Agreement. Under the Perceptive Credit Agreement, an event of default will occur if, among other things, the Company fails to make payments under the Perceptive Credit Agreement, the Company breaches certain covenants under the Perceptive Credit Agreement, subject to specified cure periods with respect to certain breaches, a material adverse change or a material regulatory event has occurred under the Perceptive Credit Agreement, 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 Perceptive Credit Agreement. Warrant On the Closing Date, the Company issued to Perceptive Credit Holdings IV, LP as the initial lender a warrant to purchase 5,625,000 of shares of the Company’s Common Stock (the Closing Date Warrant), at an exercise price equal to $0.80. If the Company draws the Delayed Draw Loan, the Company is required to issue additional warrant(s) to the lenders to purchase 1,406,250 of shares of the Company’s Common Stock (the Delayed Draw Warrant), at an exercise price equal to the average closing price of the Company’s Common Stock for the 5 trading days immediately preceding the issuance date of the Delayed Draw Warrant. Both the Closing Date Warrant and the Delayed Draw Warrant, if issued, are exercisable during the seven years after the date of issuance.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
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, 2024, 2023 and 2022, the Company’s largest customer accounted for 16%, 13%, and 14% of revenues, respectively. 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. 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 16% and 14% of accounts receivable as of December 31, 2024 and 2023. 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 COVID-19
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 The Company writes off accounts receivable when the Company has exhausted collection efforts without success, and payments subsequently received on such receivables are credited to the allowance in the period the payment is received. Available-for-sale primarily zero-loss
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 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
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 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, 2024 and 2023.
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 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 non-lease
Accrued Warranty Liability	Accrued Warranty Liability The Company generally provides a one-year
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 non-lease non-lease 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 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 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
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. The advertising costs for years ended December 31, 2024, 2023, and 2022 were not 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 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- post-tax
Segment	Segment 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. Tablo is a single enterprise solution that can be utilized in both the acute and home care settings. The Company derives revenue primarily in the United States and operates a manufacturing facility in Mexico. As the Company manages its business activities on a consolidated basis, the Company has one reportable segment. The Company’s chief operating decision maker (CODM), its Chief Executive Officer, reviews financial information on an aggregate basis for the purposes of allocating resources and evaluating
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncement In November 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures 2023-07), 2023-07 Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures 2023-09), 2023-09 In March 2024, the SEC adopted rules intended to enhance and standardize climate-related disclosures in registration statements and annual reports. The new rules will require disclosure of material climate-related risks, including the material impacts of these risks to the Company, the quantification of material impacts to the Company as a result of severe weather events and other natural conditions and Board of Directors’ oversight and risk management activities. The new rules follow a compliance phase-in gas-related In November 2024, the FASB issued ASU No. 2024-03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): 2024-03), 2024-03

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Source	Revenue by source consisted of the following (in thousands): Years Ended December 31, 2024 2023 2022 Consoles $ 29,832 $ 61,331 $ 64,590 Consumables 51,145 42,206 28,798 Total product revenue 80,977 103,537 93,388 Service and other revenue 32,712 26,839 21,987 Total revenue $ 113,689 $ 130,376 $ 115,375

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 Valuation Amortized Gross Gross Aggregate Assets: Cash equivalents: Money market funds Level 1 $ 110,979 $ —  $ —  $ 110,979 Short-term investments: Corporate debt Level 2 34,628 43 (1 ) 34,671 Total cash equivalents and short-term investments $ 145,607 $ 43 $ (1 ) $ 145,650 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 debt securities 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 short-term investments $ 179,629 $ 143 $ (74 ) $ 179,698
Schedule of breakdown of the available-for-sale debt securities with unrealized losses	The following tables present the breakdown of the available-for-sale December 31, 2024 Unrealized losses less Unrealized losses 12 Total Fair Unrealized Fair Unrealized Fair Unrealized Corporate debt $ 2,994 $ (1 ) $ —  $ —  $ 2,994 $ (1 ) Total $ 2,994 $ (1 ) $ —  $ —  $ 2,994 $ (1 ) December 31, 2023 Unrealized losses less Unrealized losses 12 Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities $ 8,416 $ (16 ) $ 17,925 $ (16 ) $ 26,341 $ (32 ) U.S. government-sponsored enterprises debt securities 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 )
Schedule of the Remaining Contractual Maturities for Short-Term Investments	As of December 31, 2024, the remaining contractual maturities for short-term investments were as follows (in thousands): Aggregate Fair Value Due within one year $ 33,352 After one but within five years 1,319 Total $ 34,671

Balance Sheet Components (Table

Balance Sheet Components (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable, Allowance for Credit Loss	The following table presents the activity in the Company’s allowance for credit losses (in thousands): Balance as of December 31, 2023 $ 203 Increase in allowance 2,381 Write-offs (7 ) Balance as of December 31, 2024 $ 2,577
Schedule of Inventories	Inventories consist of the following (in thousands): December 31, 2024 2023 Raw materials $ 25,703 $ 18,706 Work in process 9,973 8,728 Finished goods 23,711 21,781 Total inventories $ 59,387 $ 49,215
Summary of Property Plant and Equipment	Property and equipment, net consisted of the following (in thousands): December 31, 2024 2023 Tablos under operating leases $ 238 $ 522 Computers and software 4,783 5,148 Furniture and fixtures 1,910 1,983 Machinery and equipment 11,905 11,602 Leasehold improvements 9,685 9,621 Construction in progress 637 769 Total property and equipment $ 29,158 $ 29,645 Less: accumulated depreciation and amortization (21,025 ) (16,372 ) Property and equipment, net $ 8,133 $ 13,273
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): December 31, 2024 2023 Inventory $ 2,079 $ 3,395 Research and development expenses 219 1,050 Professional services 1,084 1,153 Customer rebates 1,733 2,100 Other 3,090 5,761 Total accrued expenses and other current liabilities $ 8,205 $ 13,459
Accrued Warranty Liability	The change in accrued warranty liability is presented in the following table (in thousands): December 31, 2024 2023 Balance as of December 31, 2023 $ 3,712 $ 3,620 Additions charged to cost of product revenue 1,908 5,172 Consumption (3,682 ) (5,080 ) Balance as of December 31, 2024 $ 1,938 $ 3,712

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 Operating lease costs $ 1,892 $ 1,837 $ 1,759 Variable lease costs 351 435 329 Short-term lease costs 115 94 170 Total lease costs $ 2,358 $ 2,366 $ 2,258
Schedule of Weighted-average Remaining Lease Term and Discount Rate	The weighted-average remaining lease term and discount rate were as follows: December 31, 2024 2023 Weighted-average remaining lease term (in years) 2.4 3.4 Weighted-average discount rate 8.8 % 8.8 %
Maturity of Operating Lease Liabilities	The maturity of the Company’s operating lease liabilities as of December 31, 2024 were as follows (in thousands): Years Ending December 31: 2025 $ 2,107 2026 1,952 2027 848 2028 53 Total lease payments 4,960 Less: imputed interest (477 ) Present value of operating lease liabilities $ 4,483 Operating lease liabilities, current $ 1,799 Operating lease liabilities, noncurrent $ 2,684

Term Loans (Tables)

Term Loans (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Term Loan	Term loans consist of the following (in thousands): December 31, 2024 2023 Principal of term loans $ 200,000 $ 133,476 Unamortized debt discount (2,625 ) (3,363 ) Term loans, noncurrent $ 197,375 $ 130,113
Summary of Debt Maturities	The annual principal annual payments, excluding interest payments and the final fee, due on the term loans as of December 31, 2024 were as follows (in thousands): Years Ending December 31: 2025 $ —  2026 16,667 2027 183,333 Total principal payments 200,000 Less: unamortized debt discount (2,625 ) Total term loans, net of debt discount $ 197,375

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2023 1,935 $ 15.58 Granted —  —  Exercised (72 ) $ 1.17 Forfeited and expired (478 ) $ 24.42 Outstanding as of December 31, 2024 1,385 $ 13.26 4.43 $ — Exercisable as of December 31, 2024 1,360 $ 12.62 4.40 $ —
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, 2023 2,594 432 $ 21.54 $ 22.50 Granted 4,238 4,809 $ 3.16 $ 1.09 Released (1,516 ) (56 ) $ 18.91 $ 25.63 Forfeited (1,879 ) (3,728 ) $ 9.41 $ 0.80 Outstanding as of December 31, 2024 3,437 1,457 $ 6.26 $ 7.58
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, 2024 2023 2022 Cost of revenue $ 1,372 $ 1,805 $ 701 Research and development 7,291 10,538 6,845 Sales and marketing 6,122 12,419 10,269 General and administrative 14,571 13,872 9,388 Total stock-based compensation expense $ 29,356 $ 38,634 $ 27,203
Employee Stock Purchase Plan (ESPP)
Subsidiary, Sale of Stock [Line Items]
Summary of Estimated Fair Value Assumptions for ESPP 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, 2024 2023 2022 Expected term (in years) 0.49 – 2.00 0.49 – 2.00 0.49 – 2.00 Expected volatility 81.7% – 215.2% 53.3% – 61.6% 41.1% – 58.0% Risk-free interest rate 3.84% – 5.2% 4.81% – 5.4% 0.6% – 3.48% Dividend yield 0% 0% 0% Grant Date Fair Value $ 0.15–$2.11 $ 3.25 – $8.27 $ 4.89–$16.23

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 Domestic $ (116,693 ) $ (158,095 ) $ (153,226 ) Foreign (10,792 ) (14,179 ) (9,435 ) Loss before provision for income taxes $ (127,485 ) $ (172,274 ) $ (162,661 )
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, 2024 2023 2022 Federal statutory income tax rate 21.0 % 21.0 % 21.0 % State taxes 1.1 3.2 4.2 Change in valuation allowance (17.3 ) (22.0 ) (26.1 ) Federal and state tax credits 1.4 1.3 1.4 Stock-based compensation expense (5.3 ) (2.0 ) 1.2 Non-deductible (0.5 ) (0.7 ) (0.2 ) Effect of deferred tax adjustment (0.1 ) —  0.2 Non-deductible (0.7 ) (1.0 ) (1.9 ) Effective income tax rate (0.4 )% (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, 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 180,588 $ 161,189 Tax credits 18,163 16,343 Accrual and reserves 3,137 4,907 Tangible and intangible assets 3,534 2,894 Stock-based compensation expense 2,333 4,596 Capitalized research costs 29,014 29,663 Other deferred tax asset 8,386 3,812 Gross deferred tax assets 245,155 223,404 Valuation allowance (244,165 ) (222,061 ) Net deferred tax assets $ 990 $ 1,343 December 31, 2024 2023 Deferred tax liabilities: Right-of-use $ (990 ) $ (1,343 ) Gross deferred tax liabilities $ (990 ) $ (1,343 )
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, 2024 2023 Balance, beginning of year $ 3,781 $ 3,027 Increase related to prior years positions —  —  Decrease related to current year positions —  —  Increase related to current year positions 642 754 Balance, end of year $ 4,423 $ 3,781

Net Loss per Share (Tables)

Net Loss per Share (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 Stock options to purchase common stock 1,385 1,935 2,602 Restricted stock units 3,437 2,593 1,593 Performance stock units 264 197 47 Shares committed under ESPP 674 318 90 Warrant to purchase common stock 63 63 63 Total 5,823 5,106 4,395

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring [Abstract]
Schedule of Restructuring cost	The following table sets forth severance and related benefits charges included in the statements of operations (in thousands): Years Ended December 31,  2024   2023  Cost of revenue $ 579 $ 129 Research and development 2,107 739 Sales and marketing 2,149 1,294 General and administrative 720 370 Total $ 5,555 $ 2,532 For the year ended December 31, 2024, changes in liabilities resulting from the restructuring accruals, which were recorded in accrued compensation and related benefits on the balance sheet, were as follows (in thousands): Balance as of December 31, 2023 $ 854 Charges 5,555 Payments and other adjustments (4,908 ) Balance as of December 31, 2024 $ 1,501

Description of Business - Addit

Description of Business - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Jan. 08, 2025	Jan. 03, 2025	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Description Of Business [Line Items]
Net Income (Loss)				$ (127,976)	$ (172,797)	$ (162,956)
Accumulated deficit				(1,089,723)	(961,747)
Cash, cash equivalents, restricted cash and short-term investments				162,000
Cash outflow from operating activities				$ 116,300	$ 131,400	$ 145,700
Description of recent days bid price of stock				its stock had maintained a closing bid price above $1.00 for 15 consecutive trading days
Perceptive Credit Agreement [Member] | Subsequent Event [Member] | Term Loan [Member]
Description Of Business [Line Items]
Line of credit, maximum borrowing capacity			$ 100,000
Debt instrument, term			5 years
Line of credit facility additional borrowing capacity			$ 25,000
Debt instrument, maturity date			Jul. 14, 2027
Private Placement [Member] | Series A Preferred Stock [Member] | Securities Purchase Agreements [Member] | Subsequent Event [Member]
Description Of Business [Line Items]
Sale of stock, number of shares issued in transaction	843,908	863,340
Sale of stock, price per share	$ 200	$ 200
Preferred stock converted into number of common stock			250
Aggregate of common stock for preferred stock conversion			210,977,000
Proceeds from issuance of private placement	$ 168,800
Private Placement [Member] | Series A Preferred Stock [Member] | Additional Securities Purchase Agreements [Member] | Subsequent Event [Member]
Description Of Business [Line Items]
Sale of stock, number of shares issued in transaction	19,432
Proceeds from issuance of private placement	$ 3,900

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
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
Advertising costs		$ 0	0	$ 0
Matching contributions		$ 1,500,000	$ 1,700,000	$ 1,400,000
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%
Revenue Benchmark | Customer Concentration Risk | Largest Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage		16%	13%	14%
Accounts Receivable | Customer Concentration Risk | Customer 1
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage		16%
Accounts Receivable | Customer Concentration Risk | 1 Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk, percentage			14%

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue	$ 113,689	$ 130,376	$ 115,375
Consoles Product
Disaggregation Of Revenue [Line Items]
Revenue	29,832	61,331	64,590
Consumables Product
Disaggregation Of Revenue [Line Items]
Revenue	51,145	42,206	28,798
Product Revenue
Disaggregation Of Revenue [Line Items]
Revenue	80,977	103,537	93,388
Service and Other Revenue
Disaggregation Of Revenue [Line Items]
Revenue	$ 32,712	$ 26,839	$ 21,987

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Remaining performance obligations	$ 13.6
Revenue recognized	11.6	$ 8.7	$ 6.3
Consoles Product | Operating Lease Arrangements
Revenue from operating lease arrangements	$ 0.2	$ 0.3	$ 2

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Additional Information (Detail) 1 $ in Millions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue Performance Obligation 1	$ 12.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue Performance Obligation 1	$ 0.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

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, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Unrealized Holding Losses	$ (1)	$ (74)
Aggregate Fair Value	0	0
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	145,607	179,629
Gross Unrealized Holding Gains	43	143
Gross Unrealized Holding Losses	(1)	(74)
Aggregate Fair Value	145,650	179,698
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	110,979	44,883
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	0	0
Aggregate Fair Value	110,979	44,883
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
Gross Unrealized Holding Gains		58
Gross Unrealized Holding Losses		(32)
Aggregate Fair Value		53,816
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
Gross Unrealized Holding Gains		24
Gross Unrealized Holding Losses		(38)
Aggregate Fair Value		29,631
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
Gross Unrealized Holding Gains		5
Gross Unrealized Holding Losses		(4)
Aggregate Fair Value		18,098
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	34,628	33,214
Gross Unrealized Holding Gains	43	56
Gross Unrealized Holding Losses	(1)	0
Aggregate Fair Value	$ 34,671	$ 33,270

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, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 2,994	$ 64,877
Gross Unrealized Holding Losses	(1)	(74)
Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,994	38,464
Gross Unrealized Holding Losses	(1)	(42)
Unrealized losses 12 months or greater
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	26,413
Gross Unrealized Holding Losses	0	(32)
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		26,341
Gross Unrealized Holding Losses		(32)
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
Gross Unrealized Holding Losses		(16)
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
Gross Unrealized Holding Losses		(16)
US Government-sponsored Enterprises Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		27,245
Gross Unrealized Holding Losses		(38)
US Government-sponsored Enterprises Debt Securities | Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		18,757
Gross Unrealized Holding Losses		(22)
US Government-sponsored Enterprises Debt Securities | 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	2,994	11,291
Gross Unrealized Holding Losses	(1)	(4)
Corporate debt | Unrealized losses less than 12 months
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,994	11,291
Gross Unrealized Holding Losses	(1)	(4)
Corporate debt | Unrealized losses 12 months or greater
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Gross Unrealized Holding Losses	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value term Loan	$ 212,100	$ 141,300
Debt Securities, Available-for-Sale	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Remaining Contractual Maturities (Detail) $ in Thousands	Dec. 31, 2024 USD ($)
Fair Value, Separate Account Investment [Line Items]
Due within one year	$ 33,352
After one but within five years	1,319
Total	$ 34,671

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Allowance for credit losses (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Allowance for Credit Loss [Abstract]
Allowance for Credit Loss, Beginning Balance	$ 203
Increase in allowance	2,381
Write-offs	(7)
Allowance for Credit Loss, Ending Balance	$ 2,577

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 25,703	$ 18,706
Work in process	9,973	8,728
Finished goods	23,711	21,781
Total inventories	$ 59,387	$ 49,215

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Property Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 29,158	$ 29,645
Less: accumulated depreciation and amortization	(21,025)	(16,372)
Property and equipment, net	8,133	13,273
Tablos Under Operating Leases
Property, Plant and Equipment [Line Items]
Total property and equipment	238	522
Computers and Software
Property, Plant and Equipment [Line Items]
Total property and equipment	4,783	5,148
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	1,910	1,983
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	11,905	11,602
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	9,685	9,621
Construction In Progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 637	$ 769

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Inventory	$ 2,079	$ 3,395
Research and development expenses	219	1,050
Professional services	1,084	1,153
Customer rebates	1,733	2,100
Other	3,090	5,761
Total accrued expenses and other current liabilities	$ 8,205	$ 13,459

Balance Sheet Components - Ac_2

Balance Sheet Components - Accrued Warranty Liability (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Product Warranties Disclosures [Abstract]
Balance at the beginning of the period	$ 3,712	$ 3,620
Additions charged to cost of product revenue	1,908	5,172
Consumption	(3,682)	(5,080)
Balance at the end of the period	$ 1,938	$ 3,712

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Total depreciation and amortization expense	$ 5.7	$ 5.8	$ 5.2
Restricted cash balance	$ 3.3	$ 3.3

Commitment and Contingencies (A

Commitment and Contingencies (Additional Information) (Detail) - USD ($) $ in Millions	1 Months Ended
	May 31, 2020	Sep. 30, 2019	Dec. 31, 2024
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
Purchase Commitments
Commitments And Contingencies [Line Items]
Open purchase commitments			$ 32.8
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
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, 2024	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 1,892	$ 1,837	$ 1,759
Variable lease costs	351	435	329
Short-term lease costs	115	94	170
Total lease costs	$ 2,358	$ 2,366	$ 2,258

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Weighted-average Remaining Lease Term and Discount Rate (Detail)	Dec. 31, 2024	Dec. 31, 2023
Operating leases:
Weighted-average remaining lease term (in years)	2 years 4 months 24 days	3 years 4 months 24 days
Weighted-average discount rate	8.80%	8.80%

Commitments and Contingencies_3

Commitments and Contingencies - Maturity of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2025	$ 2,107
2026	1,952
2027	848
2028	53
Total lease payments	4,960
Less: imputed interest	(477)
Present value of operating lease liabilities	4,483
Operating lease liabilities, current	1,799	$ 1,593
Operating lease liabilities, noncurrent	$ 2,684	$ 4,482

Term Loans - Schedule of Term L

Term Loans - Schedule of Term Loan (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Principal of term loan	$ 200,000	$ 133,476
Unamortized debt discount	(2,625)	(3,363)
Term loans, noncurrent	$ 197,375	$ 130,113

Term Loans - Additional Informa

Term Loans - Additional Information (Detail) - USD ($)		12 Months Ended
	Jan. 03, 2025	Dec. 31, 2024	Dec. 11, 2023	Nov. 03, 2022
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
Cash and cash equivalent maintain percentage		50%
Line of credit, default interest rate		4%
Line of credit facility, fair value of amount outstanding		$ 200,000,000
Repayments of lines of credit	$ 7,500,000
Line of credit facility termination fees	$ 100,000
SLR Term Loan Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 250,000
Line of credit, interest rate		9.67%
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 SLR Closing Date, (ii) 2.0% of the principal amount of the Term Loan, if prepaid after the first anniversary of the SLR Closing Date through and including the second anniversary of the SLR Closing Date, or (iii) 1.0% of the principal amount of the Term Loan if prepaid after the second anniversary of the SLR Closing Date and prior to the SLR 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 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 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
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%
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 | 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, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 0
2026	16,667
2027	183,333
Total principal payments	200,000
Unamortized debt discount	(2,625)	$ (3,363)
Total term loan, net of debt discount	$ 197,375

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		50%
Ceo [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		250%
Ceo [Member] | Total Shareholder Return [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		250%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		200%
Maximum | Total Shareholder Return [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		150%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		0%
Minimum | Total Shareholder Return [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		75%
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		$ 0.2	$ 9.9	$ 22.2
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. Annual RSUs granted to non-executive employees in 2024 vest over a two-year period at a rate of 50% on the first anniversary of the original vesting date
Estimated weighted average period over which unamortized share-based compensation are expected to be recognize		6 months
Total unrecognized stock-based compensation expense		$ 0.5
Employee Stock Option | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Fair Value of Options Vested		$ 2.1	3.6		$ 6.1
Performance Stock Units
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 Executive officers		80%
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%
Total Fair Value of Options Vested		$ 27.2	$ 24.9	$ 9.9
Estimated weighted average period over which unamortized share-based compensation are expected to be recognize		2 years 5 months 23 days
Total unrecognized stock-based compensation expense		$ 16.7
Performance Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		50%
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%
Performance Shares | Ceo [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		250%
Performance Shares | End Of Year3 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		100%
Performance Shares | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		200%
Performance Shares | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Earned units vesting percentage		0%
2020 Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares reserved for issuance		3,498,000				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		667,000				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 18 days
Total unrecognized stock-based compensation expense		$ 1.7
Employees Share Purchase Plan (ESPP) | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Eligible Compensation Percentage to Purchase Common Stock		15%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding Options, Balance as of December 31, 2023 | shares	1,935
Granted | shares	0
Exercised | shares	(72)
Forfeited and expired | shares	(478)
Outstanding Options, Balance as of December 31, 2024 | shares	1,385
Exercisable as of December 31, 2024 | shares	1,360
Weighted-Average Exercise Price, Balance as of December 31, 2023 | $ / shares	$ 15.58
Weighted-Average Exercise Price, Granted | $ / shares	0
Weighted-Average Exercise Price, Exercised | $ / shares	1.17
Weighted-Average Exercise Price, Forfeited and Expired | $ / shares	24.42
Weighted-Average Exercise Price, Balance as of December 31, 2024 | $ / shares	13.26
Weighed-Average Exercise Price, Exercisable as of December 31, 2024 | $ / shares	$ 12.62
Weighted-Average Remaining Term	4 years 5 months 4 days
Weighted-Average Remaining Contractual Term, Exercisable as of December 31, 2024	4 years 4 months 24 days

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Activity (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Performance Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding as of December 31, 2023 | shares	432
Granted | shares	4,809
Released | shares	(56)
Forfeited | shares	(3,728)
Outstanding as of December 31, 2024 | shares	1,457
Weighted-Average Grant Date Fair Value Per Share, Outstanding as of December 31, 2023 | $ / shares	$ 22.5
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares	1.09
Weighted-Average Grant Date Fair Value Per Share, Released | $ / shares	25.63
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares	0.8
Weighted-Average Grant Date Fair Value Per Share,Outstanding as of December 31, 2024 | $ / shares	$ 7.58
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding as of December 31, 2023 | shares	2,594
Granted | shares	4,238
Released | shares	(1,516)
Forfeited | shares	(1,879)
Outstanding as of December 31, 2024 | shares	3,437
Weighted-Average Grant Date Fair Value Per Share, Outstanding as of December 31, 2023 | $ / shares	$ 21.54
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares	3.16
Weighted-Average Grant Date Fair Value Per Share, Released | $ / shares	18.91
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares	9.41
Weighted-Average Grant Date Fair Value Per Share,Outstanding as of December 31, 2024 | $ / shares	$ 6.26

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Estimated Fair Value Assumptions for ESPP Grants (Details) - Employees Share Purchase Plan (ESPP) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield	0%	0%	0%
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	2 years	2 years	2 years
Expected volatility	215.20%	61.60%	58%
Risk-free interest rate	5.20%	5.40%	3.48%
Grant Date Fair Value	$ 2.11	$ 8.27	$ 16.23
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	5 months 26 days
Expected volatility	81.70%	53.30%	41.10%
Risk-free interest rate	3.84%	4.81%	0.60%
Grant Date Fair Value	$ 0.15	$ 3.25	$ 4.89

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	$ 29,356	$ 38,634	$ 27,203
Cost of Revenue
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	1,372	1,805	701
Research and Development
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	7,291	10,538	6,845
Sales and Marketing
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	6,122	12,419	10,269
General and Administrative
Equity Incentive Plan [Line Items]
Total stock-based compensation expense	$ 14,571	$ 13,872	$ 9,388

Income Taxes - Loss before Prov

Income Taxes - Loss before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
Domestic	$ (116,693)	$ (158,095)	$ (153,226)
Foreign	(10,792)	(14,179)	(9,435)
Loss before provision for income taxes	$ (127,485)	$ (172,274)	$ (162,661)

Income Taxes (Additional Inform

Income Taxes (Additional Information) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Provision for income taxes	$ 491	$ 523	$ 295
Valuation allowance	22,100	37,800	$ 42,600
Operating loss carryforward	729,400
Net operating loss carryforwards	$ 180,588	$ 161,189
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	$ 601,600
Operating loss carryforward expiration beginning	$ 127,800
Open year examination	three
Federal | Research and Development
Income Taxes [Line Items]
Tax credit carryforward, amount	$ 12,300
Tax credit carry forward expiration year	2030
Federal | Maximum
Income Taxes [Line Items]
Expiration year	2037
Federal | Minimum
Income Taxes [Line Items]
Expiration year	2025
State
Income Taxes [Line Items]
Operating loss carryforward	$ 408,800
Net operating loss carryforwards	118,500
Operating loss carryforward expiration beginning	$ 290,300
Open year examination	four
State | Research and Development
Income Taxes [Line Items]
Tax credit carryforward, amount	$ 8,400
State | Maximum
Income Taxes [Line Items]
Expiration year	2044
State | Minimum
Income Taxes [Line Items]
Expiration year	2025
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, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21%	21%	21%
State taxes	1.10%	3.20%	4.20%
Change in valuation allowance	(17.30%)	(22.00%)	(26.10%)
Federal and state tax credits	1.40%	1.30%	1.40%
Stock-based compensation expense	(5.30%)	(2.00%)	1.20%
Non-deductible permanent expenses	(0.50%)	(0.70%)	(0.20%)
Effect of deferred tax adjustment	0.10%	0%	0.20%
Non-deductible compensation	(0.70%)	(1.00%)	(1.90%)
Effective income tax rate	(0.40%)	(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, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 180,588	$ 161,189
Tax credits	18,163	16,343
Accrual and reserves	3,137	4,907
Tangible and intangible assets	3,534	2,894
Stock-based compensation expense	2,333	4,596
Capitalized research costs	29,014	29,663
Other deferred tax asset	8,386	3,812
Gross deferred tax assets	245,155	223,404
Valuation allowance	(244,165)	(222,061)
Net deferred tax assets	990	1,343
Deferred tax liabilities:
Right-of-use assets	(990)	(1,343)
Gross deferred tax liabilities	$ (990)	$ (1,343)

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, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Balance, beginning of year	$ 3,781	$ 3,027
Increase related to prior years positions		0
Increase related to current year positions	642	754
Balance, end of year	$ 4,423	$ 3,781

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from calculation of diluted net loss per share	5,823	5,106	4,395
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	264	197	47
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	674	318	90
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	1,385	1,935	2,602
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	3,437	2,593	1,593
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

Segment Reporting and geograp_2

Segment Reporting and geographical information (Additional information) (Detail) $ in Millions	Dec. 31, 2024 USD ($)
MEXICO
Rights of Use Of Assets [Line Items]
Long Lived Tangible Assets And Operating Lease Right Of Use Asset	$ 6.4

Workforce reduction (Additional

Workforce reduction (Additional Information) (Detail) - USD ($) $ in Thousands		6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 5,555
One-time Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 1,500	$ 2,700	$ 1,400		$ 2,500

Workforce reduction - Schedule

Workforce reduction - Schedule of Restructuring Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Research and development	$ 38,397	$ 57,307	$ 48,855
Sales and marketing	70,044	96,232	89,482
General and administrative	43,498	45,231	$ 40,515
Restructuring Cost [Member]
Restructuring Cost and Reserve [Line Items]
Cost of revenue	579	129
Research and development	2,107	739
Sales and marketing	2,149	1,294
General and administrative	720	370
Restructuring Costs, Total	$ 5,555	$ 2,532

Workforce reduction - Summary o

Workforce reduction - Summary of Changes in Liabilities Resulting from the Severance Charges and Related Accruals (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Workforce reduction [Abstract]
Balance as of December 31, 2023	$ 854
Charges	5,555
Payments and other adjustments	(4,908)
Balance as of June 30, 2024	$ 1,501

Subsequent Event (Additional In

Subsequent Event (Additional Information) (Detail) - USD ($)	Jan. 08, 2025	Jan. 03, 2025	Dec. 31, 2024	Jan. 07, 2025	Dec. 31, 2023
Subsequent Event [Line Items]
Class Of Warrant Or Righst Exercisable Term After Issuance			seven
Preferred Stock, Par or Stated Value Per Share			$ 0.001		$ 0.001
Closing Date Warrant [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			5,625,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 0.8
Delayed Draw Warrant [Member]
Subsequent Event [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			1,406,250
Registration Rights Agreement [Member] | Subsequent Event
Subsequent Event [Line Items]
Description of Registration And Filing Requirements		The Company is required to prepare and file an initial registration statement with the SEC as soon as reasonably practicable, but in no event later than 60 days after the closing of the Private Placement, and to use best efforts to have the registration statement declared effective within 50 days after the filing of the initial registration statement with the SEC, subject to the approval of the conversion of the Series A Preferred Stock being received at the Company’s special meeting of stockholders.
Series A Preferred Stock [Member] | Subsequent Event
Subsequent Event [Line Items]
Conversion of Stock, Description		From the date that is six months following the date of the first issuance of the Series A Preferred Stock (the Six Month Date) until receipt of stockholder approval of the conversion of the Series A Preferred Stock into shares of common stock in accordance with Nasdaq Stock Market Rules
Preferred Stock, Dividend Rate, Percentage		8%
Preferred Stock, Dividend Payment Rate, Variable		2
Series A Preferred Stock [Member] | Private Placement [Member] | Securities Purchase Agreements [Member] | Subsequent Event
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	843,908	863,340
Sale of Stock, Price Per Share	$ 200	$ 200
Preferred Stock, Convertible, Conversion Price				$ 0.8
Proceeds from Issuance of Private Placement	$ 168,800,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001
Series A Preferred Stock [Member] | Private Placement [Member] | Additional Securities Purchase Agreements [Member] | Subsequent Event
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	19,432
Proceeds from Issuance of Private Placement	$ 3,900,000
Senior Secured Credit Facility [Member] | Subsequent Event
Subsequent Event [Line Items]
Line of Credit Facility, Interest Rate During Period	4%
Line of Credit Facility, Expiration Period	5 years
Senior Secured Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Subsequent Event
Subsequent Event [Line Items]
Line of Credit Facility, Interest Rate During Period	8%
Senior Secured Credit Facility [Member] | Kind And Added To The Principal Amount [Member] | Subsequent Event
Subsequent Event [Line Items]
Line of Credit Facility, Interest Rate During Period	1.50%
Senior Secured Credit Facility [Member] | Perceptive Credit Agreement [Member] | Subsequent Event
Subsequent Event [Line Items]
Line of credit, maximum borrowing capacity		$ 125,000,000
Line Of Credit Facility Extended Borrowing Capacity		125,000,000
Line of Credit Facility, Fair Value of Amount Outstanding	$ 200,000,000
Line Of Credit Facility Termination Fees		$ 1,000,000
Line of Credit Facility, Frequency of Payment and Payment Terms		The Company may voluntarily prepay the outstanding Loans, subject to a prepayment premium of (i) 10.0% of the principal amount of the prepaid Loans, if prepaid prior to or on the first anniversary of the Closing Date, (ii) 8.0% of the principal amount of the prepaid Loans, if prepaid after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, (iii) 4.0% of the principal amount of the prepaid Loans, if prepaid after the second anniversary of the Closing Date through and including the third anniversary of the Closing Date, (iv) 2.0% of the principal amount of the prepaid Loans, if prepaid after the third anniversary of the Closing Date through and including the fourth anniversary of the Closing Date, and (v) 0.00% of the principal amount of the prepaid Loans, if prepaid after the fourth anniversary of the Closing Date
Line of Credit Facility, Covenant Terms		The Company has also agreed to certain financial covenants that require the Company to (i) maintain a minimum cash balance of at least $10.0 million in accounts subject to control agreements in favor of Agent, and (ii) achieve certain trailing twelve-month net revenue targets as set forth in the Perceptive Credit Agreement
Line of Credit Facility, Covenant Compliance		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 Perceptive Credit Agreement.
Senior Secured Credit Facility [Member] | Perceptive Credit Agreement [Member] | Subsequent Event | Initial Terms Loan [Member]
Subsequent Event [Line Items]
Line of credit, maximum borrowing capacity		$ 100,000,000
Senior Secured Credit Facility [Member] | Perceptive Credit Agreement [Member] | Delayed Draw Warrant [Member] | Subsequent Event
Subsequent Event [Line Items]
Line of credit, maximum borrowing capacity		25,000,000
Initial Term Loan [Member] | Perceptive Credit Agreement [Member] | Subsequent Event
Subsequent Event [Line Items]
Proceeds from Lines of Credit	$ 100,000,000
Delayed Draw Loan [Member]
Subsequent Event [Line Items]
Description Of Warrant Exercise Price			exercise price equal to the average closing price of the Company’s Common Stock for the 5 trading days immediately preceding the issuance date of the Delayed Draw Warrant.
Delayed Draw Loan [Member] | Perceptive Credit Agreement [Member] | Subsequent Event
Subsequent Event [Line Items]
Line Of Credit Facility Termination Fees		$ 250,000