Invitae (NVTAQ) 10-Q 3 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36847
Entity Registrant Name	Invitae Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1701898
Entity Address, Address Line One	1400 16th Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	415
Local Phone Number	374-7782
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	NVTA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		229,288,596
Entity Central Index Key	0001501134
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 325,331	$ 923,250
Marketable securities	549,381	122,121
Accounts receivable	80,399	66,227
Inventory	43,457	33,516
Prepaid expenses and other current assets	32,037	33,691
Total current assets	1,030,605	1,178,805
Property and equipment, net	129,959	114,714
Operating lease assets	117,333	121,169
Restricted cash	10,275	10,275
Intangible assets, net	1,167,841	1,187,994
Goodwill	2,283,059	2,283,059
Other assets	28,693	23,551
Total assets	4,767,765	4,919,567
Current liabilities:
Accounts payable	41,701	21,127
Accrued liabilities	108,498	106,453
Operating lease obligations	12,301	12,359
Finance lease obligations	5,400	4,156
Total current liabilities	167,900	144,095
Operating lease obligations, net of current portion	121,849	124,369
Finance lease obligations, net of current portion	7,609	5,683
Debt	115,626	113,391
Convertible senior notes, net	1,465,786	1,464,138
Deferred tax liability	15,796	51,696
Other long-term liabilities	29,266	37,797
Total liabilities	1,923,832	1,941,169
Commitments and contingencies
Stockholders’ equity:
Common stock	23	23
Accumulated other comprehensive loss	(785)	(7)
Additional paid-in capital	4,749,402	4,701,230
Accumulated deficit	(1,904,707)	(1,722,848)
Total stockholders’ equity	2,843,933	2,978,398
Total liabilities and stockholders’ equity	$ 4,767,765	$ 4,919,567

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 123,691	$ 103,621
Cost of revenue	97,116	75,491
Research and development	128,236	80,358
Selling and marketing	60,144	51,240
General and administrative	51,274	72,517
Change in fair value of contingent consideration	154	(63,621)
Total costs and operating expenses	336,924	215,985
Loss from operations	(213,233)	(112,364)
Other income, net	10,439	4,465
Interest expense	(13,985)	(8,393)
Net loss before taxes	(216,779)	(116,292)
Income tax benefit	(34,920)	(6,800)
Net loss	$ (181,859)	$ (109,492)
Net loss per share, basic (in dollars per share)	$ (0.80)	$ (0.56)
Net loss per share, diluted (in dollars per share)	$ (0.80)	$ (0.56)
Shares used in computing net loss per share, basic	228,470	194,000
Shares used in computing net loss per share, diluted	228,470	194,000
Test revenue
Revenue:
Total revenue	$ 119,497	$ 99,276
Other revenue
Revenue:
Total revenue	$ 4,194	$ 4,345

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (181,859)	$ (109,492)
Other comprehensive (loss) income:
Unrealized (loss) income on available-for-sale marketable securities, net of tax	(778)	49
Comprehensive loss	$ (182,637)	$ (109,443)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock:	Accumulated other comprehensive (loss) income:	Additional paid-in capital:	Accumulated deficit:	Accumulated deficit:Cumulative effect of accounting change	AdjustmentAdditional paid-in capital:
Balance, beginning of period at Dec. 31, 2020		$ 19	$ 1	$ 3,337,120	$ (1,360,847)	$ 17,005
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized (loss) income on available-for-sale marketable securities, net of tax	$ 49		49
Common stock issued		1		434,263
Common stock issued on exercise of stock options, net				1,760
Common stock issued pursuant to exercises of warrants				1,242
Common stock issued or issuable pursuant to acquisitions and equity awards issued in connection with such acquisitions				74,822
Stock-based compensation expense				55,834
Net loss	(109,492)				(109,492)
Balance, end of period at Mar. 31, 2021	2,376,289	20	50	3,829,553	(1,453,334)		$ (75,488)
Balance, beginning of period at Dec. 31, 2021	2,978,398	23	(7)	4,701,230	(1,722,848)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized (loss) income on available-for-sale marketable securities, net of tax	(778)		(778)
Common stock issued on exercise of stock options, net				425
Common stock issued or issuable pursuant to acquisitions and equity awards issued in connection with such acquisitions				1,660
Stock-based compensation expense				46,087
Net loss	(181,859)				(181,859)
Balance, end of period at Mar. 31, 2022	$ 2,843,933	$ 23	$ (785)	$ 4,749,402	$ (1,904,707)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (181,859)	$ (109,492)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	27,100	16,574
Stock-based compensation	46,822	58,775
Amortization of debt discount and issuance costs	3,883	2,735
Remeasurements of liabilities associated with business combinations	(9,849)	(66,999)
Benefit from income taxes	(34,920)	(6,800)
Post-combination expense for acceleration of unvested equity and deferred stock compensation	1,660	2,959
Amortization of premiums and discounts on investment securities	570	1,549
Other	1,806	2,241
Changes in operating assets and liabilities, net of businesses acquired:
Accounts receivable	(14,172)	2,814
Inventory	(9,941)	1,374
Prepaid expenses and other current assets	1,654	(11,237)
Other assets	(1,984)	811
Accounts payable	22,863	10,232
Accrued expenses and other long-term liabilities	(1,176)	4,944
Net cash used in operating activities	(147,543)	(89,520)
Cash flows from investing activities:
Purchases of marketable securities	(550,541)	(325,956)
Proceeds from maturities of marketable securities	121,933	74,763
Acquisition of businesses, net of cash acquired	0	(14,954)
Purchases of property and equipment	(20,848)	(6,431)
Other	0	(980)
Net cash used in investing activities	(449,456)	(273,558)
Cash flows from financing activities:
Proceeds from public offerings of common stock, net	0	434,263
Proceeds from issuance of common stock	425	2,551
Finance lease principal payments	(1,330)	(723)
Other	(15)	0
Net Cash Provided by (Used in) Financing Activities, Total	(920)	436,091
Net (decrease) increase in cash, cash equivalents and restricted cash	(597,919)	73,013
Cash, cash equivalents and restricted cash at beginning of period	933,525	131,480
Cash, cash equivalents and restricted cash at end of period	335,606	204,493
Supplemental cash flow information of non-cash investing and financing activities:
Equipment acquired through finance leases	4,472	1,740
Purchases of property and equipment in accounts payable and accrued liabilities	11,675	6,341
Common stock issued for acquisition of businesses	0	74,822
Operating lease assets obtained in exchange for lease obligations, net	$ 0	$ 32,279

Organization and description of

Organization and description of business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	Organization and description of business Invitae Corporation ("Invitae," “the Company," "we," "us," and "our") was incorporated in the State of Delaware on January 13, 2010, as Locus Development, Inc. and we changed our name to Invitae Corporation in 2012. We offer high-quality, comprehensive, affordable genetic testing across multiple clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, personalized oncology, metabolic conditions and rare diseases. To augment our offering and realize our mission, we have acquired multiple assets and businesses that further expanded our test menu and suite of genome management offerings and accelerated our entry into key genomics markets. Invitae operates in one segment. Basis of presentation

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Principles of consolidation Our unaudited condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates The preparation of 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 liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We base these estimates on current facts, historical and anticipated results, trends and various other assumptions that we believe are reasonable under the circumstances, including assumptions as to future events. Actual results could differ materially from those judgments, estimates and assumptions. We evaluate our estimates on an ongoing basis. Prior period reclassifications We have reclassified certain amounts in prior periods to conform with current presentation. During the current period, we have disclosed the change in fair value of our contingent consideration separately in our statements of operations. These amounts were disclosed in general and administrative expense in previous periods. Concentrations of credit risk and other risks and uncertainties Financial instruments that potentially subject us to a concentration of credit risk consist of cash, cash equivalents, restricted cash, marketable securities and accounts receivable. Our cash and cash equivalents are primarily held by financial institutions in the United States. Such deposits may exceed federally insured limits. Cash, cash equivalents and restricted cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows (in thousands): March 31, 2022 December 31, 2021 Cash and cash equivalents $ 325,331 $ 923,250 Restricted cash 10,275 10,275 Total cash, cash equivalents and restricted cash $ 335,606 $ 933,525 Restricted cash serves as the security deposit for the Company's leases. Fair value of financial instruments Our financial instruments consist principally of cash and cash equivalents, marketable securities, accounts payable, accrued liabilities, finance leases and liabilities associated with business combinations. The carrying amounts of certain of these financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued and other current liabilities approximate their current fair value due to the relatively short-term nature of these accounts. Based on borrowing rates available to us, the carrying value of our finance leases approximates their fair values. Liabilities associated with business combinations are recorded at their estimated fair value. Recent accounting pronouncements We evaluate all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board ("FASB") for consideration of their applicability. ASUs not included in the disclosures in this report were assessed and determined to be either not applicable or are not expected to have a material impact on our consolidated financial statements. Recently issued accounting pronouncements not yet adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations ("Topic 805"): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments of this ASU require entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers . At the acquisition date, an acquirer should account for the related revenue contracts in accordance with ASC Topic 606 as if it had originated the contracts. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, and should be applied prospectively to all business combinations occurring after the date of adoption. Early adoption is permitted by us at any time. We are currently evaluating the impact this guidance will have on our consolidated financial statements and the timing of adoption. Recently adopted accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. This new standard is effective for our interim and annual periods beginning January 1, 2022, with early adoption permitted. We elected to adopt the amendments on a modified retrospective basis effective January 1, 2021, which required a cumulative-effect adjustment to retained earnings. The cumulative-effect adjustment resulted in a decrease in accumulated deficit of $17.0 million related to the reversal of the equity component and associated issuance costs as well as adjustment of the related amortization costs of our convertible senior notes due 2024. Reporting periods beginning on or after January 1, 2021 are presented under this new guidance while prior periods have not been adjusted and continue to be reported in accordance with our historic accounting under U.S. GAAP. See further information about our convertible senior notes in Note 8, “Commitments and contingencies.” Income Taxes During the three month period ended March 31, 2022, we recorded a $34.6 million release of federal and state valuation allowances as a result of the reclassification of ArcherDX's STRATAFIDE and Personalized Cancer Monitoring ("PCM") in-process research and development intangibles from indefinite-lived intangibles to developed technology, which enabled the associated deferred tax liability to serve as a source of income to existing finite-lived deferred tax assets for which a valuation allowance had previously been established. There was no similar income tax benefit in the prior year period. The income tax benefit of $6.8 million for the three months ended March 31, 2021 was primarily due to the net deferred tax liabilities assumed in connection with our acquisition of One Codex during February 2021.

Revenue, accounts receivable an

Revenue, accounts receivable and deferred revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue, accounts receivable and deferred revenue	Revenue, accounts receivable and deferred revenueTest revenue is generated from sales of diagnostic tests and precision oncology products to four groups of customers: biopharmaceutical partners, patients who pay directly, patients' insurance carriers, and other business-to-business customers (e.g., hospitals, clinics, medical centers). Test revenue is generated in two ways: through a centralized lab and decentralized through the shipment of reactions to biopharmaceutical partners and other business-to-business customers. We refer to the set of reagents needed to perform a next-generation sequencing test as a "reaction." Amounts billed and collected, and the timing of collections, vary based on the type of payer. Other revenue consists principally of revenue recognized under contracts for biopharmaceutical development services and other collaboration and genome network agreements and is accounted for under the provisions provided in ASC Topic 606. Our revenue as disaggregated by payer category and revenue subtype is as follows (in thousands): Three Months Ended March 31, 2022 Patient Biopharma partner Other business-to-business Total Insurance Direct Test revenue: Centralized $ 71,904 $ 12,157 $ 12,963 $ 12,665 $ 109,689 Decentralized — — 1,343 8,465 9,808 Total test revenue 71,904 12,157 14,306 21,130 119,497 Other revenue — — 2,954 1,240 4,194 Total revenue $ 71,904 $ 12,157 $ 17,260 $ 22,370 $ 123,691 Three Months Ended March 31, 2021 Patient Biopharma partner Other business-to-business Total Insurance Direct Test revenue: Centralized $ 60,891 $ 8,949 $ 10,274 $ 10,472 $ 90,586 Decentralized — — 383 8,307 8,690 Total test revenue 60,891 8,949 10,657 18,779 99,276 Other revenue — — 3,062 1,283 4,345 Total revenue $ 60,891 $ 8,949 $ 13,719 $ 20,062 $ 103,621 We recognize revenue related to billings based on estimates of the amount that will ultimately be realized. Cash collections for certain tests delivered may differ from rates originally estimated. In subsequent periods, we update our estimate of the amounts recognized for previously delivered tests which resulted in the following increases to revenue and decreases to our net loss from operations and basic and diluted net loss per share (in millions, except per share data): Three Months Ended March 31, 2022 2021 Revenue $ 1.1 $ 4.3 Loss from operations $ (1.1) $ (4.3) Net loss per share, basic and diluted $ (0.00) $ (0.02) Impact of COVID-19 While we expect the COVID-19 pandemic may continue to impact our business, we experienced limited disruption during 2022 and 2021. We have reviewed and adjusted, when necessary, for the impact of COVID-19 on our estimates related to revenue recognition and expected credit losses. Accounts receivable The majority of our accounts receivable represents amounts billed to biopharmaceutical partners and other business-to-business customers for test and other revenue recognized, and estimated amounts to be collected from third-party insurance payers for genetic testing revenue recognized. Also included are amounts due under the terms of collaboration and genome network agreements for diagnostic testing and data aggregation reporting services provided and proprietary platform access rights transferred. We also record unbilled revenue for revenue recognized but yet to be billed for services provided to biopharmaceutical companies related to companion diagnostic development. This contract receivable was $5.1 million and $4.3 million as of March 31, 2022 and December 31, 2021, respectively, and was included in prepaid expenses and other current assets on the consolidated balance sheets. Deferred revenue We record a contract liability when cash payments are received or due in advance of our performance related to one or more performance obligations. The deferred revenue balance primarily consists of advanced billings for biopharmaceutical development services, including billings at the initiation of performance-based milestones, and recognized as revenue in the applicable future period when the revenue is earned. Also included are prepayments related to our consumer direct channel. The Company has applied the practical expedient in relation to information about our remaining performance obligations, as we have a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date. Most performance obligations are generally satisfied over one

Business combinations

Business combinations	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business combinations	Business combinations Genelex and YouScript In April 2020, we acquired 100% of the equity interest of Genelex Solutions, LLC ("Genelex") and YouScript Incorporated ("YouScript") to bring pharmacogenetic testing and integrated clinical decision support to Invitae. We may be required to pay contingent consideration in the form of additional shares of our common stock in connection with the acquisition of Genelex if, within a specified period following the closing, we achieve a certain product milestone, in which case we would issue shares of our common stock with a value equal to a portion of the gross revenue actually received by us for a pharmacogenetic product reimbursed through certain payers during an earn-out period of up to four years. The material factors that may impact the fair value of the contingent consideration, and therefore, this liability, are the probabilities and timing of achieving the related milestone, the estimated revenue achieved for a pharmacogenetic product and the discount rate used to estimate the fair value. Significant changes in any of the probabilities of success would result in a significant change in the fair value, which is estimated at each reporting date. As of March 31, 2022, the fair value of this contingent consideration was $2.0 million. This fair value measurement is based on significant inputs not observable in the market and, therefore, represents a Level 3 measurement. ArcherDX In October 2020, we acquired ArcherDX, Inc. ("ArcherDX"), a genomics analysis company democratizing precision oncology. Under the terms of the agreement, we acquired ArcherDX for upfront consideration consisting of 30.0 million shares of our common stock and $325.0 million in cash, plus up to an additional 27.0 million shares of our common stock payable in connection with the achievement of certain milestones. During the three months ended March 31, 2021, Invitae and the sellers of ArcherDX reached an agreement to reduce the purchase price by $1.2 million based on the final acquired net working capital. This adjustment was recorded during the three months ended March 31, 2021 and reduced the contingent consideration liability and goodwill by approximately $1.2 million. We were required to pay contingent consideration based on achievement of post-closing development and revenue milestones. The material factors that may impact the fair value of the contingent consideration, and therefore the liability, are (i) the estimated number of shares to be issued, (ii) the volatility of our common stock, (iii) the probabilities of achievement of milestones within the timeframes prescribed in the acquisition agreement and (iv) discount rates, all of which are Level 3 inputs not supported by market activity with the exception of the volatility of our common stock. Significant changes in any of these inputs may result in a significant change in fair value, which is estimated at each reporting date. Of the five milestones, one milestone was achieved in November 2020, which resulted in the issuance of 5.0 million shares of our common stock and a cash payment of $1.9 million, and three milestones were achieved or deemed to be achieved during the three months ended June 30, 2021, which resulted in the issuance of 13.8 million shares of our common stock and a cash payment of $3.3 million in July 2021. The remaining milestone is based upon receiving U.S. Food and Drug Administration ("FDA") clearance or approval of a therapy selection in vitro diagnostic ("IVD") product, which per the terms of the acquisition agreement, must be completed by March 31, 2022, subject to certain extensions (the "ArcherDX Final Milestone"). With respect to the ArcherDX Final Milestone, the liability was reduced to nil as of June 30, 2021 from $262.5 million as of March 31, 2021 and $287.7 million as of December 31, 2020, with the offsetting change recorded as changes in fair value of contingent consideration in our consolidated statements of operations. The removal of the liability balance and the associated change in fair value of contingent consideration was a result of our reassessment of the steps necessary to achieve clearance or approval based on FDA feedback received principally in the three months ended June 30, 2021. Subsequent to March 31, 2022, an agreement was entered into with the previous ArcherDX stockholders to extend the date for achievement of the ArcherDX Final Milestone to March 31, 2023. We do not believe achievement of the conditions prescribed in the acquisition agreement will occur within this timeframe. We expect FDA clearance or approval of a therapy selection IVD at a later date subject to resolution of the necessary steps. As such, no liability was recorded as of March 31, 2022. In connection with the acquisition, we granted awards of common stock to new employees who joined Invitae in connection with our acquisition of ArcherDX that vested upon the achievement of the contingent consideration milestones discussed above and were subject to the employees' continued service with us, unless terminated without cause in which case vesting was only dependent on milestone achievement. As the number of shares that were expected to be issued are fixed, the awards are equity-classified. During the three months ended March 31, 2022, we recorded stock-based compensation expense of nil related to the ArcherDX milestones. During the three months ended March 31, 2021, we recorded $40.6 million in stock-based compensation expense related to the ArcherDX milestones, of which $30.4 million was due to an accounting modification of certain awards whereby the employee's continued substantive services were no longer required. During the three months ended June 30, 2021 we recorded a reversal of $29.7 million recognized in prior periods related to the determination that the ArcherDX Final Milestone would not be achieved within the specified timeframe prescribed in the acquisition agreement. One Codex In February 2021, we acquired 100% of the equity interest of Reference Genomics, Inc. d/b/a One Codex ("One Codex"), a company developing and commercializing products and services relating to microbiome sequencing, analysis and reporting, for upfront consideration consisting of $17.3 million in cash and 1.4 million shares of our common stock, of which approximately 0.2 million shares are subject to a hold-back to satisfy indemnification obligations that may arise following the closing. These shares subject to a hold-back were issued to a third-party at the closing date to hold in escrow until the escrow period is complete, and as such were classified as equity. Genosity In April 2021, we acquired 100% of the fully diluted equity of Genosity Inc. ("Genosity"), a company providing genomic laboratory services, for approximately $196.0 million, consisting of approximately $120.0 million in cash and 1.9 million shares of our common stock. In connection with this transaction, we granted restricted stock units ("RSUs") having a value of up to $5.0 million to certain continuing employees and recognized $0.4 million in stock-based compensation expense for the three months ended March 31, 2022. Pursuant to the terms of the acquisition, we agreed to provide additional shares in the event that our common stock share price decreased after the acquisition, but prior to filing a resale registration statement. At the time of the acquisition, we estimated this provision to be $7.0 million. On filing the resale registration statement during the period ended June 30, 2021, the fair value was $3.2 million and the difference of $3.8 million was recorded in general and administrative expense. Our purchase price allocation for the acquisition is preliminary and subject to revision as additional information about fair value of assets and liabilities becomes available, primarily related to our deferred tax liability assumed in connection with the acquisition. Additional information that existed as of the acquisition date but at the time was unknown to us may become known to us during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date. Ciitizen In September 2021, we acquired 100% of the equity of Ciitizen Corporation ("Ciitizen"), a patient-centric health technology company, for approximately $308.3 million, consisting of approximately $87.4 million in cash and 6.3 million shares of our common stock, of which approximately $10.4 million in cash and 0.8 million shares are subject to a hold-back to satisfy indemnification obligations that may arise following the closing. As of March 31, 2022, the value of the stock payable liability was $6.3 million with the $5.8 million quarterly fair value change recorded as income in other income, net. In connection with this transaction, we granted RSUs having a value of up to $246.9 million to certain continuing employees. During the three months ended March 31, 2022, we recorded stock-based compensation expense of $24.9 million primarily in research and development expense. Our purchase price allocation for the acquisition is preliminary and subject to revision as additional information about fair value of assets and liabilities becomes available, primarily related to certain aspects of our deferred tax liability assumed in connection with the acquisition. Additional information that existed as of the acquisition date but at the time was unknown to us may become known to us during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date.

Goodwill and intangible assets

Goodwill and intangible assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Goodwill There were no changes in the carrying amounts of goodwill during the three months ended March 31, 2022. Intangible assets The following table presents details of our acquired intangible assets as of March 31, 2022 (in thousands): March 31, 2022 December 31, 2021 Cost Accumulated Net Weighted-Average Cost Accumulated Net Weighted-Average Customer relationships $ 41,515 $ (14,248) $ 27,267 10.8 $ 41,515 $ (13,096) $ 28,419 10.8 Developed technology 1,174,506 (100,132) 1,074,374 10.7 662,106 (81,902) 580,204 10.2 Non-compete agreement 286 (286) — 0.0 286 (286) — 0.0 Tradename 21,085 (2,646) 18,439 12.0 21,085 (2,207) 18,878 12.0 Patent assets and licenses 495 (145) 350 15.0 495 (136) 359 15.0 Right to develop new technology 19,359 (1,936) 17,423 15.0 19,359 (1,613) 17,746 15.0 In-process research and development 29,988 — 29,988 n/a 542,388 — 542,388 n/a $ 1,287,234 $ (119,393) $ 1,167,841 10.7 $ 1,287,234 $ (99,240) $ 1,187,994 10.4 Acquisition-related intangibles included in the above table are generally finite-lived, other than in-process research and development, which has an indefinite life, and are carried at cost less accumulated amortization. Customer relationships related to our 2017 business combinations are being amortized on an accelerated basis in proportion to estimated cash flows. All other finite-lived acquisition-related intangibles are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized. During the three months ended March 31, 2022, the Company launched the ArcherDX STRATAFIDE and PCM products resulting in the reclassification of the related in-process research and development intangibles to developed technology intangibles, which are finite-lived and amortizable. Amortization expense was $20.2 million and $12.1 million for the three months ended March 31, 2022 and 2021, respectively. Amortization expense is recorded in cost of revenue, research and development, and selling and marketing expense. The following table summarizes our estimated future amortization expense of intangible assets with finite lives as of March 31, 2022 (in thousands): 2022 (remainder of year) $ 89,413 2023 118,461 2024 118,183 2025 116,429 2026 116,396 Thereafter 578,971 Total estimated future amortization expense $ 1,137,853 In December 2021, we acquired 100% of the equity interest of Stratify Genomics Inc., a cancer risk stratification company, for $29.0 million consisting of 1.0 million shares of common stock, $4.2 million in assumed liabilities, and $8.0 million in cash. We accounted for this transaction as an asset acquisition, as substantially all of the fair value is concentrated in the developed technology acquired. As goodwill is not recorded under an asset acquisition, an $8.7 million deferred tax liability arising from book/tax basis differences increased the value of the assets acquired above the purchase price. As a result, the fair value of the developed technology is $37.5 million, which will be amortized over eight years to cost of revenue. The remaining purchase price of $0.2 million is the fair value of cash and cash equivalents. In July 2021, we acquired 100% of the equity interest of Medneon LLC, a digital health artificial intelligence company, for $34.1 million consisting of 0.4 million shares of common stock, $4.9 million in assumed liabilities, and $12.9 million in cash. We accounted for this transaction as an asset acquisition, as substantially all of the fair value is concentrated in the developed technology acquired. The fair value of the developed technology is $33.9 million, which will be amortized over eight years to cost of revenue. The remaining purchase price of $0.2 million is the fair value of cash and cash equivalents.

Balance sheet components

Balance sheet components	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Balance sheet components	Balance sheet components Inventory Inventory consisted of the following (in thousands): March 31, 2022 December 31, 2021 Raw materials $ 36,164 $ 27,178 Work in progress 6,446 5,342 Finished goods 847 996 Total inventory $ 43,457 $ 33,516 Property and equipment, net Property and equipment consisted of the following (in thousands): March 31, 2022 December 31, 2021 Leasehold improvements $ 34,412 $ 31,159 Laboratory equipment 66,350 61,317 Computer equipment 16,365 15,452 Furniture and fixtures 2,260 2,130 Construction-in-progress 62,319 52,039 Other 2,239 925 Total property and equipment, gross 183,945 163,022 Accumulated depreciation and amortization (53,986) (48,308) Total property and equipment, net $ 129,959 $ 114,714 Depreciation expense was $5.6 million and $3.8 million for the three months ended March 31, 2022 and 2021, respectively. Accrued liabilities Accrued liabilities consisted of the following (in thousands): March 31, 2022 December 31, 2021 Accrued compensation and related expenses $ 42,492 $ 35,877 Accrued expenses 32,193 32,136 Compensation and other liabilities associated with business combinations 15,019 11,622 Deferred revenue 6,963 9,431 Accrued interest 583 6,646 Other accrued liabilities 11,248 10,741 Total accrued liabilities $ 108,498 $ 106,453 Other long-term liabilities Other long-term liabilities consisted of the following (in thousands): March 31, 2022 December 31, 2021 Compensation and other liabilities associated with business combinations, non-current 16,804 27,919 Deferred revenue, non-current 2,519 663 Other 9,943 9,215 Total other long-term liabilities $ 29,266 $ 37,797

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Financial assets and liabilities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The authoritative guidance establishes a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is summarized as follows: Level 1—Observable inputs such as quoted prices (unadjusted) for identical instruments in active markets. Level 2—Observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-derived valuations whose significant inputs are observable. Level 3—Unobservable inputs that reflect the reporting entity’s own assumptions. The following tables set forth the fair value of our consolidated financial instruments that were measured at fair value on a recurring basis (in thousands): March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Money market funds $ 175,814 $ — $ — $ 175,814 $ 175,814 $ — $ — U.S. Treasury notes 640,776 — (773) 640,003 640,003 — — U.S. government agency securities 9,409 — (12) 9,397 — 9,397 — Total financial assets $ 825,999 $ — $ (785) $ 825,214 $ 815,817 $ 9,397 $ — Financial liabilities: Stock payable liability $ 10,922 $ — $ — $ 10,922 Contingent consideration 2,029 — — 2,029 Total financial liabilities $ 12,951 $ — $ — $ 12,951 March 31, 2022 Reported as: Cash equivalents $ 265,558 Restricted cash 10,275 Marketable securities 549,381 Total cash equivalents, restricted cash, and marketable securities $ 825,214 Other long-term liabilities $ 12,951 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Money market funds $ 913,990 $ — $ — $ 913,990 $ 913,990 $ — $ — U.S. Treasury notes 111,187 — (6) 111,181 111,181 — — U.S. government agency securities 10,941 — (1) 10,940 — 10,940 — Total financial assets $ 1,036,118 $ — $ (7) $ 1,036,111 $ 1,025,171 $ 10,940 $ — Financial liabilities: Stock payable liability $ 20,925 $ — $ — $ 20,925 Contingent consideration 1,875 — — 1,875 Total financial liabilities $ 22,800 $ — $ — $ 22,800 December 31, 2021 Reported as: Cash equivalents $ 903,715 Restricted cash 10,275 Marketable securities 122,121 Total cash equivalents, restricted cash, and marketable securities $ 1,036,111 Other long-term liabilities $ 22,800 There were no transfers between Level 1, Level 2 and Level 3 during the periods presented. Our debt securities of U.S. government agencies are classified as Level 2 as they are valued based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs obtained from various third-party data providers, including but not limited to benchmark yields, interest rate curves, reported trades, broker/dealer quotes and reference data. At March 31, 2022, the remaining contractual maturities of available-for-sale securities ranged from one The total fair value of investments with unrealized losses at March 31, 2022 was $629.4 million. None of the available-for-sale securities held as of March 31, 2022 have been in an unrealized loss position for more than one year. The Company evaluates investments that are in an unrealized loss position for impairment as a result of credit loss. It was determined that no credit losses exist as of March 31, 2022, because the change in market value of those securities has resulted from fluctuations in market interest rates since the time of purchase, rather than a deterioration of the credit worthiness of the issuers. For marketable securities in an unrealized loss position, we assess our intent to sell, or whether it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. We intend to hold our marketable securities to maturity and it is unlikely that they would be sold before their cost bases are recovered. Stock payable liabilities relate to certain indemnification hold-backs resulting from business combinations that are settled in shares of our common stock. We elected to account for these liabilities using the fair value option due to the inherent nature of the liabilities and the changes in value of the underlying shares that will ultimately be issued to settle the liabilities. The estimated fair value of these liabilities is classified as Level 3 and determined based upon the number of shares that are issuable to the sellers and the quoted closing price of our common stock as of the reporting date. The number of shares that will ultimately be issued is subject to adjustment for indemnified claims that existed as of the closing date for each acquisition. Changes in the number of shares issued and share price can significantly affect the estimated fair value of the liabilities. During the three months ended March 31, 2022 and 2021, the change in fair value related to stock payable liabilities recorded to other income, net was income of $10.0 million and $3.4 million, respectively.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Leases In 2015, we entered into an operating lease agreement for our headquarters and main production facility in San Francisco, California, which commenced in 2016. This lease expires in 2026 and we may renew the lease for an additional ten years. This optional period was not considered reasonably certain to be exercised and therefore we determined the lease term to be a ten-year period expiring in 2026. In connection with the execution of the lease, we provided a security deposit of approximately $4.6 million, which is included in restricted cash in our consolidated balance sheets. We also have other operating leases for office and laboratory space domestically and internationally. We expect to enter into new leases and modify existing leases as we support continued growth of our operations. We have entered into various finance lease agreements to obtain laboratory equipment. The terms of our finance leases are generally three years and are typically secured by the underlying equipment. The portion of the future payments designated as principal repayment and related interest was classified as a finance lease obligation on our consolidated balance sheets. Finance lease assets are recorded within other assets on our consolidated balance sheets. Debt financing In October 2020, we entered into a credit agreement with a financial institution under which we borrowed $135.0 million (the "2020 Term Loan") concurrent with the closing of the ArcherDX acquisition. The 2020 Term Loan is secured by a first priority lien on all of our and our subsidiaries' assets, and is guaranteed by us and our subsidiaries. The 2020 Term Loan bears interest at an annual rate equal to three-month LIBOR, subject to a 2.00% LIBOR floor, plus a margin of 8.75%. If three-month LIBOR can no longer be determined or if the applicable governmental authority ceases to supervise or sanction such rates, then we will endeavor to agree with the administrative agent, an alternate rate of interest that gives due consideration to the then prevailing market convention for determining interest for comparable loans in the United States, provided that until such alternative rate of interest is agreed, the 2020 Term Loan shall bear interest at the Wall Street Journal Prime Rate. The three-month LIBOR is expected to be available and representative through June 30, 2023. The 2020 Term Loan will mature on (i) June 1, 2024, if at such time our 2024 Notes (defined below) are outstanding and are due to mature on September 1, 2024 (provided that if, prior to such date, the maturity date of at least 80% of the 2024 Notes is extended to a date that is prior to September 1, 2025, the maturity date for the 2020 Term Loan will be automatically extended to a date that is 90 days prior to such 2024 Notes maturity date as extended), or (ii) otherwise, on June 1, 2025. The full amount of the 2020 Term Loan is due upon maturity. If the 2020 Term Loan is prepaid (whether such prepayment is optional or mandatory), we must pay a prepayment fee of 6% if the prepayment occurs prior to the third anniversary of the closing date or 4% if the prepayment occurs after the third anniversary of the closing date and we must also pay a make-whole fee if the prepayment occurs prior to the second anniversary of the closing date. The credit agreement contains customary events of default and covenants, including among others, covenants limiting our ability to incur debt, incur liens, undergo a change in control, merge with or acquire other entities, make investments, pay dividends or other distributions to holders of our equity securities, repurchase stock, and dispose of assets, in each case subject to certain customary exceptions. In addition, the credit agreement contains financial covenants that require us to maintain a minimum cash balance and minimum quarterly revenue levels. Debt discounts, including debt issuance costs, related to the 2020 Term Loan of $32.8 million were recorded as a direct deduction from the debt liability and are being amortized to interest expense over the term of the 2020 Term Loan. Interest expense related to our debt financings, excluding the impact of our convertible senior notes (defined below), was $5.9 million for both the three months ended March 31, 2022 and 2021. Convertible senior notes Convertible senior notes due 2024 In September 2019, we issued, at par value, $350.0 million aggregate principal amount of 2.00% convertible senior notes due 2024 (the "2024 Notes") in a private offering. The 2024 Notes are our senior unsecured obligations and will mature on September 1, 2024, unless earlier converted, redeemed or repurchased. The 2024 Notes bear cash interest at a rate of 2.0% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2020. Upon conversion, the 2024 Notes will be convertible into cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. The initial conversion rate for the 2024 Notes is 33.6293 shares of our common stock per $1,000 principal amount of the 2024 Notes (equivalent to an initial conversion price of approximately $29.74 per share of common stock). If we undergo a fundamental change (as defined in the indenture governing the 2024 Notes), the holders of the 2024 Notes may require us to repurchase all or any portion of their 2024 Notes for cash at a repurchase price equal to 100% of the principal amount of the 2024 Notes to be repurchased plus accrued and unpaid interest to, but excluding, the redemption date. The 2024 Notes will be convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding March 1, 2024, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2019 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the 2024 Notes on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of 2024 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (3) if we call any or all of the 2024 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. On or after March 1, 2024 until the close of business on the business day immediately preceding the maturity date, holders may convert their 2024 Notes at any time, regardless of the foregoing circumstances. Since issuance, these notes were convertible at the option of the holders during the quarters beginning on January 1, 2021 and April 1, 2021 due to the sale price of our common stock during the quarters ended December 31, 2020 and March 31, 2021, respectively. The notes were not convertible during the three months ended March 31, 2022 and none have been converted to date in the periods in which they were convertible. We may not redeem the 2024 Notes prior to September 6, 2022. We may redeem for cash all or any portion of the 2024 Notes, at our option, on or after September 6, 2022 and on or before the 30th scheduled trading day immediately before the maturity date if the last reported sale price of the common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Convertible senior notes due 2028 In April 2021, we issued, at 99% of par value, $1,150.0 million aggregate principal amount of 1.5% convertible senior notes due 2028 (the "2028 Notes") in a private offering. The 2028 Notes are our senior unsecured obligations and will mature on April 1, 2028, unless earlier converted, redeemed or repurchased. The 2028 Notes bear cash interest at a rate of 1.5% per year, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. Upon conversion, the 2028 Notes will be convertible into cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. The 2028 Notes will be convertible at the option of the holder at any time until the second scheduled trading day prior to the maturity date, including in connection with a redemption by us. The 2028 Notes will be convertible into shares of our common stock based on an initial conversion rate of 23.1589 shares of common stock per $1,000 principal amount of the 2028 Notes (which is equal to an initial conversion price of $43.18 per share), in each case subject to customary anti-dilution and other adjustments as a result of certain extraordinary transactions. None of the 2028 Notes have been converted to date. We may not redeem the 2028 Notes prior to April 6, 2025. On or after April 6, 2025, the 2028 Notes will be redeemable by us in the event that the closing sale price of our common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide the redemption notice at a redemption price of 100% of the principal amount of such 2028 Notes, plus accrued and unpaid interest to, but excluding, the redemption date. With certain exceptions, upon a change of control of the Company or the failure of our common stock to be listed on certain stock exchanges, the holders of the 2028 Notes may require that we repurchase all or part of the principal amount of the Notes at a repurchase price of 100% of the principal amount of the 2028 Notes to be repurchased, plus unpaid interest to, but excluding, the maturity date. Summary of convertible senior notes We adopted the provisions of ASU 2020-06 on January 1, 2021. See Note 2, "Summary of significant accounting policies" for additional information. Our 2024 Notes and 2028 Notes (collectively, our "Convertible Senior Notes") consisted of the following (in thousands): March 31, 2022 December 31, 2021 Outstanding principal $ 1,499,996 $ 1,499,996 Unamortized debt discount and issuance costs (34,210) (35,858) Net carrying amount, liability component $ 1,465,786 $ 1,464,138 As of March 31, 2022, the fair value of the 2024 Notes and 2028 Notes w as $301.5 million and $631.4 million, respectively. The estimated fair value of the 2024 Notes and 2028 Notes, which use Level 2 fair value inputs, was determined based on the estimated or actual bid prices in an over-the-counter market and/or market conditions including the price and volatility of our common stock and comparable company information. We recognized $7.7 million and $2.2 million of interest expense related to our convertible senior notes during the three months ended March 31, 2022 and 2021, respectively. Of the interest expense recognized during the three months ended March 31, 2022 and 2021, $1.6 million and $0.5 million, respectively, was related to amortization of issuance costs and the remainder was related to contractual interest incurred. Other commitments In the normal course of business, we enter into various purchase commitments primarily related to service agreements and laboratory supplies. At March 31, 2022, our total future payments under noncancelable unconditional purchase commitments having a remaining term of over one year wer e $55.2 million. Guarantees and indemnification As permitted under Delaware law and in accordance with our bylaws, we indemnify our directors and officers for certain events or occurrences while the officer or director is or was serving in such capacity. The maximum amount of potential future indemnification is unlimited; however, we maintain director and officer liability insurance. This insurance allows the transfer of the risk associated with our exposure and may enable us to recover a portion of any future amounts paid. We believe the fair value of these indemnification agreements is minimal. Accordingly, we did not record any liabilities associated with these indemnification agreements at March 31, 2022 or December 31, 2021. Contingencies We are and may from time to time be involved in various legal proceedings and claims arising in the ordinary course of business. Legal proceedings, including litigation, government investigations and enforcement actions could result in material costs, occupy significant management resources and entail civil and criminal penalties, even if we ultimately prevail. If an investigation results in a proceeding against us, an adverse outcome could include us being required to pay treble damages, and incur attorneys’ fees, civil or criminal penalties and other adverse actions that could materially and adversely affect our business, financial condition and results of operations. While we believe any such claims are unsubstantiated, and we believe we are in compliance with applicable laws and regulations applicable to our business, the resolution of any such claims could be material. We were not a party to any material legal proceedings at March 31, 2022, or at the date of this report except for matters listed below. We cannot currently predict the outcome of these actions. Natera, Inc. On January 27, 2020, Natera filed a lawsuit against ArcherDX (a subsidiary of Invitae effective October 2, 2020) in the United States District Court for the District of Delaware, alleging that ArcherDX’s products using AMP chemistry, and the manufacture, use, sale, and offer for sale of such products, infringe U.S. Patent No. 10,538,814. On March 25, 2020, ArcherDX filed an answer denying Natera’s allegations and asserting certain affirmative defenses and counterclaims, including that U.S. Patent No. 10,538,814 is invalid and not infringed. On April 15, 2020, Natera filed an answer denying ArcherDX’s counterclaims and filed an amended complaint alleging that ArcherDX’s products using AMP chemistry, including STRATAFIDE, PCM, LiquidPlex, ArcherMET, FusionPlex, and VariantPlex, and the manufacture, use, sale, and offer for sale of such products, infringe U.S. Patent No. 10,538,814, U.S. Patent No. 10,557,172, U.S. Patent No. 10,590,482, and U.S. Patent No. 10,597,708, each of which are held by Natera. Natera seeks, among other things, damages and other monetary relief, costs and attorneys’ fees, and an order enjoining ArcherDX from further infringement of such patents. On May 13, 2020, ArcherDX filed an answer to Natera’s amended complaint denying Natera’s allegations and asserting certain affirmative defenses and counterclaims, including that the asserted patents are invalid and not infringed. On June 3, 2020, Natera filed an answer denying ArcherDX’s counterclaims. On June 4, 2020, ArcherDX filed a motion seeking dismissal of Natera’s infringement claims against STRATAFIDE, PCM, and ArcherMET, and for a judgment that U.S. Patent No. 10,538,814, U.S. Patent No. 10,557,172, and U.S. Patent No. 10,590,482 are invalid. On August 6, 2020, Natera filed another complaint against ArcherDX in the United States District Court for the District of Delaware alleging that ArcherDX’s products using AMP chemistry, including STRATAFIDE, PCM, LiquidPlex, ArcherMET, and VariantPlex, and the manufacture, use, sale, and offer for sale of such products, infringe U.S. Patent No. 10,731,220. Natera seeks, among other things, damages and other monetary relief, costs and attorneys’ fees, and an order enjoining ArcherDX from further infringement of the patent. On October 13, 2020, the court issued an order denying ArcherDX's motion for dismissal of Natera’s infringement claims against STRATAFIDE, PCM, and ArcherMET, and declined to enter judgment that U.S. Patent No. 10,538,814, U.S. Patent No. 10,557,172, and U.S. Patent No. 10,590,482 are invalid. On January 12, 2021, the court issued an order granting Natera leave to amend its complaint to add Invitae as a co-defendant and plead allegations that ArcherDX and Invitae induce end-users to infringe the patents-in-suit. Natera filed its second amended complaint (“Second Amended Complaint”) on the same day, with service completed on January 15, 2021. ArcherDX and Invitae filed answers to the Second Amended Complaint on January 26, 2021 and February 5, 2021, respectively, denying Natera's allegations and restating certain affirmative defenses and counterclaims of non-infringement and invalidity. The litigations have now been consolidated for all purposes. A claim construction order was issued on June 28, 2021. On October 27, 2021, Natera filed its third amended complaint (“Third Amended Complaint”) to add a Certificate of Correction to U.S. Patent No. 10,590,482. On November 3, 2021, ArcherDX filed its answer and counterclaims to Natera's Third Amended Complaint, adding an inequitable conduct defense and declaratory judgment counterclaims. Discovery concluded in December 2021. On January 21, 2022, Natera, ArcherDX and Invitae moved for summary judgment, wherein Natera seeks a determination on certain legal and equitable defenses and ArcherDX and Invitae seek a determination of non-infringement and invalidity of the asserted patents. The case was reassigned on March 11, 2022 and all hearing dates vacated. A status conference is set for May 12, 2022. In addition, on October 6, 2020, Natera filed a complaint against Genosity in the United States District Court for the District of Delaware, alleging that Genosity's use of its AsTra products, and the manufacture, use, sale, and offer for sale of such products, infringes U.S. Patent No. 10,731,220. Natera's complaint further alleges that Genosity's accused products use ArcherDX's ctDNA and region-specific primers. Genosity filed an answer to the complaint on February 15, 2021, denying Natera's allegations and setting forth affirmative defenses and counterclaims of non-infringement, invalidity and unenforceability due to inequitable conduct. On March 8, 2021, Natera filed a motion to dismiss and strike certain affirmative defenses and counterclaims brought by Genosity relating to inequitable conduct. The court denied that motion on March 14, 2022. The court granted an order granting the parties' stipulated request to stay the case on April 1, 2022. QIAGEN Sciences On July 10, 2018, ArcherDX and the General Hospital Corporation d/b/a Massachusetts General Hospital, which we refer to as MGH, filed a lawsuit in the United States District Court for the District of Delaware against QIAGEN Sciences, LLC, QIAGEN LLC, QIAGEN Beverly, Inc., QIAGEN Gaithersburg, Inc., QIAGEN GmbH and QIAGEN N.V., which is collectively referred to herein as QIAGEN, and a named QIAGEN executive who was a former member of ArcherDX’s board of directors, alleging several causes of action, including infringement of the ’810 Patent, trade secret misappropriation, breach of fiduciary duty, false advertising, tortious interference and deceptive trade practices. The ’810 Patent relates to methods for preparing a nucleic acid for sequencing and aspects of ArcherDX’s AMP technology. On October 30, 2019, with the permission of the Court, ArcherDX amended ArcherDX’s complaint to add a claim for infringement of the ’597 Patent. The ’597 Patent relates to methods of preparing and analyzing nucleic acids, such as by enriching target sequences prior to sequencing, and aspects of ArcherDX’s AMP technology. The QIAGEN products that ArcherDX alleges infringe the ’810 Patent and the ’597 Patent include, but are not limited to, QIAseq Targeted DNA Panels, QIAseq Targeted RNAscan Panels, QIAseq Index Kits and QIAseq Immune Repertoire RNA Library Kits. ArcherDX is seeking, among other things, damages for ArcherDX’s lost profits due to QIAGEN’s infringement and a permanent injunction enjoining QIAGEN from marketing and selling the infringing products and from using ArcherDX’s trade secrets. On December 5, 2019, QIAGEN and the named QIAGEN executive submitted their answer denying the allegations in ArcherDX’s complaint and asserting affirmative defenses that, among other things, the ’810 Patent and ’597 Patent are not infringed by QIAGEN’s products, that both patents are invalid, and that the complaint fails to state any claim for which relief may be granted. On March 1, 2021, each of ArcherDX and QIAGEN moved for summary judgment on issues relating to infringement and validity of ArcherDX's patents, breach of fiduciary duty and trade secret misappropriation. On June 18, 2021, ArcherDX informed the court that it would not assert the following claims to streamline the issues for trial: trade secret misappropriation, false advertising, deceptive trade practices, and tortious interference. The court denied QIAGEN's motion for summary judgment on trade secret misappropriation as moot on June 21, 2021, denied QIAGEN's motion for summary judgment on breach of fiduciary duty on July 26, 2021, and granted QIAGEN's motion for summary judgment of no literal infringement of the '810 Patent on August 21, 2021. Trial proceeded on August 23 through August 27, 2021, resulting in a unanimous jury verdict, which found that: (i) all asserted claims of the '810 and '597 Patents are valid, (ii) QIAGEN willfully infringed the asserted claims of the '810 patent (under the doctrine of equivalents) and the '597 patent (literal infringement), and (iii) ArcherDX and MGH are entitled to recover approximately $4.7 million in damages. Both parties filed post-trial motions on October 21, 2021, in which (x) QIAGEN seeks to overturn the jury verdict by requesting judgment as a matter of law or, in the alternative, a new trial or altered judgment on the issues of non-infringement, invalidity and damages, and (y) ArcherDX seeks a permanent injunction on infringing products and services approved for clinical diagnosis by a regulatory authority, ongoing royalty for products not enjoined, supplemental damages, interest and enhanced damages.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' equity	Stockholders’ equity Shares outstanding Shares of convertible preferred and common stock were as follows (in thousands): Three Months Ended March 31, 2022 2021 Convertible preferred stock: Shares outstanding, beginning and end of period — 125 Common stock: Shares outstanding, beginning of period 228,116 185,886 Common stock issued in connection with public offering — 8,932 Common stock issued on exercise of stock options, net 87 401 Common stock issued pursuant to vesting of RSUs 621 712 Common stock issued pursuant to exercises of warrants — 208 Common stock issued pursuant to acquisitions — 1,375 Shares outstanding, end of period 228,824 197,514 Convertible preferred stock In August 2017, in a private placement to certain accredited investors, we issued shares of our Series A convertible preferred stock which are convertible into common stock on a one-for-one basis, subject to adjustment for events such as stock splits, combinations and the like. The Series A convertible preferred stock is a non-voting common stock equivalent with a par value of $0.0001 and has the right to receive dividends first or simultaneously with payment of dividends on common stock. In the event of any liquidation or dissolution of the Company, the Series A preferred stock is entitled to receive $0.001 per share prior to the payment of any amount to any holders of capital stock ranking junior to the Series A preferred stock and thereafter shall participate pari passu with the holders of our common stock (on an as-if-converted-to-common-stock basis). During the year ended December 31, 2021, 124,913 shares of Series A convertible preferred stock were converted into 124,913 shares of common stock. As of March 31, 2022, there were no shares of Series A convertible preferred stock outstanding. Sales Agreement In May 2021, we entered into a sales agreement (the "2021 Sales Agreement") with Cowen and Company, LLC (“Cowen”) under which we may offer and sell from time to time at our sole discretion shares of our common stock through Cowen as our sales agent, in an aggregate amount not to exceed $400.0 million. Per the terms of the agreement, Cowen will receive a commission of up to 3% of the gross proceeds of the sales price of all shares sold through it as sales agent under the 2021 Sales Agreement. Public offering In January 2021, we sold, in an underwritten public offering, an aggregate of 8.9 million shares of our common stock at a price of $51.50 per share, for gross proceeds of $460.0 million and net proceeds of approximately $434.3 million after deducting underwriting discounts and commissions and offering expenses.

Stock incentive plans

Stock incentive plans	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock incentive plans	Stock incentive plans Stock incentive plans In 2010, we adopted the 2010 Incentive Plan (the “2010 Plan”). The 2010 Plan provides for the granting of stock-based awards to employees, directors and consultants under terms and provisions established by our board of directors. Under the terms of the 2010 Plan, options may be granted at an exercise price not less than the fair market value of our common stock. For employees holding more than 10% of the voting rights of all classes of stock, the exercise prices for incentive and nonstatutory stock options must be at least 110% of fair market value of our common stock on the grant date, as determined by our board of directors. The terms of options granted under the 2010 Plan may not exceed ten years. In January 2015, we adopted the 2015 Stock Incentive Plan (the “2015 Plan”), which became effective upon the closing of our initial public offering. Shares outstanding under the 2010 Plan were transferred to the 2015 Plan upon effectiveness of the 2015 Plan. The 2015 Plan provides for automatic annual increases in shares available for grant, beginning on January 1, 2016 through January 1, 2025. In addition, shares subject to awards under the 2010 Plan that are forfeited or terminated will be added to the 2015 Plan. The 2015 Plan provides for the grant of incentive stock options, nonstatutory stock options, restricted stock awards, stock units, stock appreciation rights and other forms of equity compensation, all of which may be granted to employees, including officers, non-employee directors and consultants. Additionally, the 2015 Plan provides for the grant of cash-based awards. Options granted generally vest over a period of four years. Typically, the vesting schedule for options granted to newly hired employees provides that 1/4 of the award vests upon the first anniversary of the employee’s date of hire, with the remainder of the award vesting monthly thereafter at a rate of 1/48 of the total shares subject to the option. All other options typically vest in equal monthly installments over the four-year vesting schedule. Upon the acquisition of ArcherDX in October 2020, any option that was outstanding was converted into a fully vested option to purchase a share of our common stock, which resulted in the issuance of options to purchase 3.7 million shares of our common stock. RSUs generally vest over a period of three years. Typically, the vesting schedule for RSUs provides that 1/3 of the award vests upon each anniversary of the grant date, with certain awards that include a portion that vests immediately upon grant. We have also granted certain awards in connection with our management incentive plan that vest over a period of two years. In June 2019, we granted time-based RSUs in connection with the acquisition of Singular Bio, Inc. which vest in three equal installments over a period of 18 months and performance-based RSUs ("PRSUs") that vest based on the achievement of performance conditions. In December 2020, we granted RSUs in connection with an asset acquisition which vest in two Activity under the 2010 Plan and the 2015 Plan is set forth below (in thousands, except per share data and years): Shares Available For Grant Stock Options Outstanding Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Balances at December 31, 2021 10,242 3,034 $ 11.98 5.5 $ 16,431 Additional shares reserved 9,125 — Options cancelled 20 (20) 6.44 Options exercised — (87) 4.91 RSUs and PRSUs granted (342) — RSUs and PRSUs cancelled 516 — Balances at March 31, 2022 19,561 2,927 $ 12.23 5.1 $ 1,900 Options exercisable at March 31, 2022 2,538 $ 10.07 4.6 $ 1,834 Options vested and expected to vest at March 31, 2022 2,912 $ 12.20 5.1 $ 1,895 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the fair value of our common stock for stock options that were in-the-money. The following table summarizes RSU, including PRSU, activity (in thousands, except per share data): Number of Shares Weighted- Average Grant Date Fair Value Per Share Balance at December 31, 2021 16,247 $ 26.21 RSUs granted 342 $ 11.17 RSUs vested (623) $ 24.66 RSUs cancelled (516) $ 27.82 Balance at March 31, 2022 15,450 $ 25.89 Stock-based compensation The following table summarizes stock-based compensation expense included in the consolidated statements of operations (in thousands): Three Months Ended March 31, 2022 2021 Cost of revenue $ 1,865 $ 2,185 Research and development 31,994 15,534 Selling and marketing 2,909 3,431 General and administrative 10,054 37,625 Total stock-based compensation expense $ 46,822 $ 58,775

Net loss per share

Net loss per share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss per share	Net loss per share The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended March 31, 2022 2021 Net loss $ (181,859) $ (109,492) Shares used in computing net loss per share, basic and diluted 228,470 194,000 Net loss per share, basic and diluted $ (0.80) $ (0.56) The following common stock equivalents have been excluded from diluted net loss per share because their inclusion would be anti-dilutive (in thousands): Three Months Ended March 31, 2022 2021 Shares of common stock subject to outstanding options 2,972 4,679 Shares of common stock subject to outstanding warrants — 118 Shares of common stock subject to outstanding RSUs and PRSUs 15,935 6,531 Shares of common stock pursuant to ESPP 1,428 174 Shares of common stock underlying Series A convertible preferred stock — 125 Shares of common stock subject to Convertible Senior Notes conversion 38,403 11,770 Total shares of common stock equivalents 58,738 23,397

Geographic information

Geographic information	3 Months Ended
	Mar. 31, 2022
Segments, Geographical Areas [Abstract]
Geographic information	Geographic information Revenue by country is determined based on the billing address of the customer and is summarized as follows (in thousands): Three Months Ended March 31, 2022 2021 United States $ 108,295 $ 90,412 Canada 2,297 1,543 United Kingdom 2,147 1,645 Germany 2,020 2,797 Rest of world 8,932 7,224 Total revenue $ 123,691 $ 103,621

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results expected for the full fiscal year or any other periods.
Principles of consolidation	Principles of consolidation Our unaudited condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of 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 liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We base these estimates on current facts, historical and anticipated results, trends and various other assumptions that we believe are reasonable under the circumstances, including assumptions as to future events. Actual results could differ materially from those judgments, estimates and assumptions. We evaluate our estimates on an ongoing basis. Prior period reclassifications We have reclassified certain amounts in prior periods to conform with current presentation. During the current period, we have disclosed the change in fair value of our contingent consideration separately in our statements of operations. These amounts were disclosed in general and administrative expense in previous periods.
Concentrations of credit risk and other risks and uncertainties	Concentrations of credit risk and other risks and uncertainties Financial instruments that potentially subject us to a concentration of credit risk consist of cash, cash equivalents, restricted cash, marketable securities and accounts receivable. Our cash and cash equivalents are primarily held by financial institutions in the United States. Such deposits may exceed federally insured limits.
Fair value of financial instruments	Fair value of financial instrumentsOur financial instruments consist principally of cash and cash equivalents, marketable securities, accounts payable, accrued liabilities, finance leases and liabilities associated with business combinations. The carrying amounts of certain of these financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued and other current liabilities approximate their current fair value due to the relatively short-term nature of these accounts. Based on borrowing rates available to us, the carrying value of our finance leases approximates their fair values. Liabilities associated with business combinations are recorded at their estimated fair value.
Recent accounting pronouncements	Recent accounting pronouncements We evaluate all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board ("FASB") for consideration of their applicability. ASUs not included in the disclosures in this report were assessed and determined to be either not applicable or are not expected to have a material impact on our consolidated financial statements. Recently issued accounting pronouncements not yet adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations ("Topic 805"): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments of this ASU require entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers . At the acquisition date, an acquirer should account for the related revenue contracts in accordance with ASC Topic 606 as if it had originated the contracts. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, and should be applied prospectively to all business combinations occurring after the date of adoption. Early adoption is permitted by us at any time. We are currently evaluating the impact this guidance will have on our consolidated financial statements and the timing of adoption. Recently adopted accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. This new standard is effective for our interim and annual periods beginning January 1, 2022, with early adoption permitted. We elected to adopt the amendments on a modified retrospective basis effective January 1, 2021, which required a cumulative-effect adjustment to retained earnings. The cumulative-effect adjustment resulted in a decrease in accumulated deficit of $17.0 million related to the reversal of the equity component and associated issuance costs as well as adjustment of the related amortization costs of our convertible senior notes due 2024. Reporting periods beginning on or after January 1, 2021 are presented under this new guidance while prior periods have not been adjusted and continue to be reported in accordance with our historic accounting under U.S. GAAP. See further information about our convertible senior notes in Note 8, “Commitments and contingencies.”

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of restrictions on cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows (in thousands): March 31, 2022 December 31, 2021 Cash and cash equivalents $ 325,331 $ 923,250 Restricted cash 10,275 10,275 Total cash, cash equivalents and restricted cash $ 335,606 $ 933,525
Schedule of cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows (in thousands): March 31, 2022 December 31, 2021 Cash and cash equivalents $ 325,331 $ 923,250 Restricted cash 10,275 10,275 Total cash, cash equivalents and restricted cash $ 335,606 $ 933,525

Revenue, accounts receivable _2

Revenue, accounts receivable and deferred revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of disaggregated revenue	Our revenue as disaggregated by payer category and revenue subtype is as follows (in thousands): Three Months Ended March 31, 2022 Patient Biopharma partner Other business-to-business Total Insurance Direct Test revenue: Centralized $ 71,904 $ 12,157 $ 12,963 $ 12,665 $ 109,689 Decentralized — — 1,343 8,465 9,808 Total test revenue 71,904 12,157 14,306 21,130 119,497 Other revenue — — 2,954 1,240 4,194 Total revenue $ 71,904 $ 12,157 $ 17,260 $ 22,370 $ 123,691 Three Months Ended March 31, 2021 Patient Biopharma partner Other business-to-business Total Insurance Direct Test revenue: Centralized $ 60,891 $ 8,949 $ 10,274 $ 10,472 $ 90,586 Decentralized — — 383 8,307 8,690 Total test revenue 60,891 8,949 10,657 18,779 99,276 Other revenue — — 3,062 1,283 4,345 Total revenue $ 60,891 $ 8,949 $ 13,719 $ 20,062 $ 103,621
Schedule of change in estimate	In subsequent periods, we update our estimate of the amounts recognized for previously delivered tests which resulted in the following increases to revenue and decreases to our net loss from operations and basic and diluted net loss per share (in millions, except per share data): Three Months Ended March 31, 2022 2021 Revenue $ 1.1 $ 4.3 Loss from operations $ (1.1) $ (4.3) Net loss per share, basic and diluted $ (0.00) $ (0.02)

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets, indefinite-lived	The following table presents details of our acquired intangible assets as of March 31, 2022 (in thousands): March 31, 2022 December 31, 2021 Cost Accumulated Net Weighted-Average Cost Accumulated Net Weighted-Average Customer relationships $ 41,515 $ (14,248) $ 27,267 10.8 $ 41,515 $ (13,096) $ 28,419 10.8 Developed technology 1,174,506 (100,132) 1,074,374 10.7 662,106 (81,902) 580,204 10.2 Non-compete agreement 286 (286) — 0.0 286 (286) — 0.0 Tradename 21,085 (2,646) 18,439 12.0 21,085 (2,207) 18,878 12.0 Patent assets and licenses 495 (145) 350 15.0 495 (136) 359 15.0 Right to develop new technology 19,359 (1,936) 17,423 15.0 19,359 (1,613) 17,746 15.0 In-process research and development 29,988 — 29,988 n/a 542,388 — 542,388 n/a $ 1,287,234 $ (119,393) $ 1,167,841 10.7 $ 1,287,234 $ (99,240) $ 1,187,994 10.4
Schedule of intangible assets, finite-lived	The following table presents details of our acquired intangible assets as of March 31, 2022 (in thousands): March 31, 2022 December 31, 2021 Cost Accumulated Net Weighted-Average Cost Accumulated Net Weighted-Average Customer relationships $ 41,515 $ (14,248) $ 27,267 10.8 $ 41,515 $ (13,096) $ 28,419 10.8 Developed technology 1,174,506 (100,132) 1,074,374 10.7 662,106 (81,902) 580,204 10.2 Non-compete agreement 286 (286) — 0.0 286 (286) — 0.0 Tradename 21,085 (2,646) 18,439 12.0 21,085 (2,207) 18,878 12.0 Patent assets and licenses 495 (145) 350 15.0 495 (136) 359 15.0 Right to develop new technology 19,359 (1,936) 17,423 15.0 19,359 (1,613) 17,746 15.0 In-process research and development 29,988 — 29,988 n/a 542,388 — 542,388 n/a $ 1,287,234 $ (119,393) $ 1,167,841 10.7 $ 1,287,234 $ (99,240) $ 1,187,994 10.4
Summary of estimated future amortization expense of intangible assets with finite lives	The following table summarizes our estimated future amortization expense of intangible assets with finite lives as of March 31, 2022 (in thousands): 2022 (remainder of year) $ 89,413 2023 118,461 2024 118,183 2025 116,429 2026 116,396 Thereafter 578,971 Total estimated future amortization expense $ 1,137,853

Balance sheet components (Table

Balance sheet components (Tables)	3 Months Ended
	Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of inventory	Inventory consisted of the following (in thousands): March 31, 2022 December 31, 2021 Raw materials $ 36,164 $ 27,178 Work in progress 6,446 5,342 Finished goods 847 996 Total inventory $ 43,457 $ 33,516
Schedule of property and equipment	Property and equipment consisted of the following (in thousands): March 31, 2022 December 31, 2021 Leasehold improvements $ 34,412 $ 31,159 Laboratory equipment 66,350 61,317 Computer equipment 16,365 15,452 Furniture and fixtures 2,260 2,130 Construction-in-progress 62,319 52,039 Other 2,239 925 Total property and equipment, gross 183,945 163,022 Accumulated depreciation and amortization (53,986) (48,308) Total property and equipment, net $ 129,959 $ 114,714
Schedule of accrued liabilities	Accrued liabilities consisted of the following (in thousands): March 31, 2022 December 31, 2021 Accrued compensation and related expenses $ 42,492 $ 35,877 Accrued expenses 32,193 32,136 Compensation and other liabilities associated with business combinations 15,019 11,622 Deferred revenue 6,963 9,431 Accrued interest 583 6,646 Other accrued liabilities 11,248 10,741 Total accrued liabilities $ 108,498 $ 106,453
Schedule of other long-term liabilities	Other long-term liabilities consisted of the following (in thousands): March 31, 2022 December 31, 2021 Compensation and other liabilities associated with business combinations, non-current 16,804 27,919 Deferred revenue, non-current 2,519 663 Other 9,943 9,215 Total other long-term liabilities $ 29,266 $ 37,797

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Financial instruments at fair value on a recurring basis	The following tables set forth the fair value of our consolidated financial instruments that were measured at fair value on a recurring basis (in thousands): March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Money market funds $ 175,814 $ — $ — $ 175,814 $ 175,814 $ — $ — U.S. Treasury notes 640,776 — (773) 640,003 640,003 — — U.S. government agency securities 9,409 — (12) 9,397 — 9,397 — Total financial assets $ 825,999 $ — $ (785) $ 825,214 $ 815,817 $ 9,397 $ — Financial liabilities: Stock payable liability $ 10,922 $ — $ — $ 10,922 Contingent consideration 2,029 — — 2,029 Total financial liabilities $ 12,951 $ — $ — $ 12,951 March 31, 2022 Reported as: Cash equivalents $ 265,558 Restricted cash 10,275 Marketable securities 549,381 Total cash equivalents, restricted cash, and marketable securities $ 825,214 Other long-term liabilities $ 12,951 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Money market funds $ 913,990 $ — $ — $ 913,990 $ 913,990 $ — $ — U.S. Treasury notes 111,187 — (6) 111,181 111,181 — — U.S. government agency securities 10,941 — (1) 10,940 — 10,940 — Total financial assets $ 1,036,118 $ — $ (7) $ 1,036,111 $ 1,025,171 $ 10,940 $ — Financial liabilities: Stock payable liability $ 20,925 $ — $ — $ 20,925 Contingent consideration 1,875 — — 1,875 Total financial liabilities $ 22,800 $ — $ — $ 22,800 December 31, 2021 Reported as: Cash equivalents $ 903,715 Restricted cash 10,275 Marketable securities 122,121 Total cash equivalents, restricted cash, and marketable securities $ 1,036,111 Other long-term liabilities $ 22,800

Commitments and contingencies (

Commitments and contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Components of debt	Our 2024 Notes and 2028 Notes (collectively, our "Convertible Senior Notes") consisted of the following (in thousands): March 31, 2022 December 31, 2021 Outstanding principal $ 1,499,996 $ 1,499,996 Unamortized debt discount and issuance costs (34,210) (35,858) Net carrying amount, liability component $ 1,465,786 $ 1,464,138

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of convertible preferred and common stock	Shares of convertible preferred and common stock were as follows (in thousands): Three Months Ended March 31, 2022 2021 Convertible preferred stock: Shares outstanding, beginning and end of period — 125 Common stock: Shares outstanding, beginning of period 228,116 185,886 Common stock issued in connection with public offering — 8,932 Common stock issued on exercise of stock options, net 87 401 Common stock issued pursuant to vesting of RSUs 621 712 Common stock issued pursuant to exercises of warrants — 208 Common stock issued pursuant to acquisitions — 1,375 Shares outstanding, end of period 228,824 197,514

Stock incentive plans (Tables)

Stock incentive plans (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of activity under the plans	Activity under the 2010 Plan and the 2015 Plan is set forth below (in thousands, except per share data and years): Shares Available For Grant Stock Options Outstanding Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Balances at December 31, 2021 10,242 3,034 $ 11.98 5.5 $ 16,431 Additional shares reserved 9,125 — Options cancelled 20 (20) 6.44 Options exercised — (87) 4.91 RSUs and PRSUs granted (342) — RSUs and PRSUs cancelled 516 — Balances at March 31, 2022 19,561 2,927 $ 12.23 5.1 $ 1,900 Options exercisable at March 31, 2022 2,538 $ 10.07 4.6 $ 1,834 Options vested and expected to vest at March 31, 2022 2,912 $ 12.20 5.1 $ 1,895
Summary of RSU activity	The following table summarizes RSU, including PRSU, activity (in thousands, except per share data): Number of Shares Weighted- Average Grant Date Fair Value Per Share Balance at December 31, 2021 16,247 $ 26.21 RSUs granted 342 $ 11.17 RSUs vested (623) $ 24.66 RSUs cancelled (516) $ 27.82 Balance at March 31, 2022 15,450 $ 25.89
Summary of stock based compensation expense	The following table summarizes stock-based compensation expense included in the consolidated statements of operations (in thousands): Three Months Ended March 31, 2022 2021 Cost of revenue $ 1,865 $ 2,185 Research and development 31,994 15,534 Selling and marketing 2,909 3,431 General and administrative 10,054 37,625 Total stock-based compensation expense $ 46,822 $ 58,775

Net loss per share (Tables)

Net loss per share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended March 31, 2022 2021 Net loss $ (181,859) $ (109,492) Shares used in computing net loss per share, basic and diluted 228,470 194,000 Net loss per share, basic and diluted $ (0.80) $ (0.56)
Schedule of antidilutive securities excluded from computation of earnings per share	The following common stock equivalents have been excluded from diluted net loss per share because their inclusion would be anti-dilutive (in thousands): Three Months Ended March 31, 2022 2021 Shares of common stock subject to outstanding options 2,972 4,679 Shares of common stock subject to outstanding warrants — 118 Shares of common stock subject to outstanding RSUs and PRSUs 15,935 6,531 Shares of common stock pursuant to ESPP 1,428 174 Shares of common stock underlying Series A convertible preferred stock — 125 Shares of common stock subject to Convertible Senior Notes conversion 38,403 11,770 Total shares of common stock equivalents 58,738 23,397

Geographic information (Tables)

Geographic information (Tables)	3 Months Ended
	Mar. 31, 2022
Segments, Geographical Areas [Abstract]
Schedule of revenue by country	Revenue by country is determined based on the billing address of the customer and is summarized as follows (in thousands): Three Months Ended March 31, 2022 2021 United States $ 108,295 $ 90,412 Canada 2,297 1,543 United Kingdom 2,147 1,645 Germany 2,020 2,797 Rest of world 8,932 7,224 Total revenue $ 123,691 $ 103,621

Organization and description _2

Organization and description of business (Details)	3 Months Ended
	Mar. 31, 2022Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

Summary of significant accoun_4

Summary of significant accounting policies - Reconciliation of cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 325,331	$ 923,250
Restricted cash	10,275	10,275
Total cash, cash equivalents and restricted cash	$ 335,606	$ 933,525	$ 204,493	$ 131,480

Summary of significant accoun_5

Summary of significant accounting policies - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Increase (decrease) in stockholders' equity	$ 2,843,933	$ 2,376,289	$ 2,978,398
Income tax benefit	(34,920)	(6,800)
ArcherDX
Business Acquisition [Line Items]
Income tax expense (benefit), adjustment of deferred tax (asset) liability	34,600	0
One Codex
Business Acquisition [Line Items]
Income tax expense (benefit), adjustment of deferred tax (asset) liability		6,800
Accumulated deficit:
Business Acquisition [Line Items]
Increase (decrease) in stockholders' equity	$ (1,904,707)	$ (1,453,334)	$ (1,722,848)		$ (1,360,847)
Accumulated deficit: | Cumulative effect of accounting change
Business Acquisition [Line Items]
Increase (decrease) in stockholders' equity				$ 17,000	$ 17,005

Revenue, accounts receivable _3

Revenue, accounts receivable and deferred revenue - Schedule of disaggregated revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 123,691	$ 103,621
Patient Insurance
Disaggregation of Revenue [Line Items]
Total revenue	71,904	60,891
Patient Direct
Disaggregation of Revenue [Line Items]
Total revenue	12,157	8,949
Biopharma partner
Disaggregation of Revenue [Line Items]
Total revenue	17,260	13,719
Other business-to-business
Disaggregation of Revenue [Line Items]
Total revenue	22,370	20,062
Test revenue
Disaggregation of Revenue [Line Items]
Total revenue	119,497	99,276
Test revenue | Patient Insurance
Disaggregation of Revenue [Line Items]
Total revenue	71,904	60,891
Test revenue | Patient Direct
Disaggregation of Revenue [Line Items]
Total revenue	12,157	8,949
Test revenue | Biopharma partner
Disaggregation of Revenue [Line Items]
Total revenue	14,306	10,657
Test revenue | Other business-to-business
Disaggregation of Revenue [Line Items]
Total revenue	21,130	18,779
Centralized
Disaggregation of Revenue [Line Items]
Total revenue	109,689	90,586
Centralized | Patient Insurance
Disaggregation of Revenue [Line Items]
Total revenue	71,904	60,891
Centralized | Patient Direct
Disaggregation of Revenue [Line Items]
Total revenue	12,157	8,949
Centralized | Biopharma partner
Disaggregation of Revenue [Line Items]
Total revenue	12,963	10,274
Centralized | Other business-to-business
Disaggregation of Revenue [Line Items]
Total revenue	12,665	10,472
Decentralized
Disaggregation of Revenue [Line Items]
Total revenue	9,808	8,690
Decentralized | Patient Insurance
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Decentralized | Patient Direct
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Decentralized | Biopharma partner
Disaggregation of Revenue [Line Items]
Total revenue	1,343	383
Decentralized | Other business-to-business
Disaggregation of Revenue [Line Items]
Total revenue	8,465	8,307
Other revenue
Disaggregation of Revenue [Line Items]
Total revenue	4,194	4,345
Other revenue | Patient Insurance
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Other revenue | Patient Direct
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Other revenue | Biopharma partner
Disaggregation of Revenue [Line Items]
Total revenue	2,954	3,062
Other revenue | Other business-to-business
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,240	$ 1,283

Revenue, accounts receivable _4

Revenue, accounts receivable and deferred revenue - Schedule of change in estimate (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 123,691	$ 103,621
Loss from operations	$ (213,233)	$ (112,364)
Net loss per share, diluted (in dollars per share)	$ 0	$ (0.02)
Change in estimate of revenue recognition
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 1,100	$ 4,300
Loss from operations	$ (1,100)	$ (4,300)
Net loss per share, basic (in dollars per share)	$ 0	$ (0.02)

Revenue, accounts receivable _5

Revenue, accounts receivable and deferred revenue - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract receivable	$ 5,100	$ 4,300
Deferred revenue, revenue recognized	2,400
Deferred revenue	6,963	9,431
Deferred revenue, non-current	$ 2,519	$ 663
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 month
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months

Business combinations - Genelex

Business combinations - Genelex and YouScript (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2020	Mar. 31, 2022
Genelex
Business Acquisition [Line Items]
Percentage of diluted interest acquired	100.00%
Business acquisition, expected milestone duration	4 years
YouScript
Business Acquisition [Line Items]
Percentage of diluted interest acquired	100.00%
Genelex and YouScript
Business Acquisition [Line Items]
Contingent consideration		$ 2

Business combinations - ArcherD

Business combinations - ArcherDX (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended			3 Months Ended
	Jul. 31, 2021	Nov. 30, 2020	Oct. 31, 2020	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Reduction in contingent consideration				$ (154)		$ 63,621
Stock-based compensation expense (income)				46,822		58,775
ArcherDX
Business Acquisition [Line Items]
Business acquisition common stock issued (in shares)			30
Payments to acquire businesses, gross			$ 325,000
Reduction in purchase price						1,200
Reduction in goodwill						1,200
Reduction in contingent consideration						1,200
Stock-based compensation expense (income)				$ 0		40,600
Share-based compensation expense, incremental cost						30,400
ArcherDX Milestone | ArcherDX
Business Acquisition [Line Items]
Business acquisition common stock issued (in shares)	13.8	5	27
Payments to acquire businesses, gross	$ 3,300	$ 1,900
ArcherDX Final Milestone | ArcherDX
Business Acquisition [Line Items]
Contingent consideration						$ 262,500	$ 287,700
Stock-based compensation expense (income)					$ (29,700)

Business combinations - One Cod

Business combinations - One Codex (Details) - One Codex shares in Millions, $ in Millions	1 Months Ended
	Feb. 28, 2021USD ($)shares
Business Acquisition [Line Items]
Percentage of diluted interest acquired	100.00%
Payments to acquire businesses, gross | $	$ 17.3
Business acquisition common stock issued (in shares)	1.4
Indemnification obligations
Business Acquisition [Line Items]
Business acquisition common stock issued (in shares)	0.2

Business combinations - Genosit

Business combinations - Genosity (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2021	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Total stock-based compensation expense		$ 46,822		$ 58,775
Reduction in contingent consideration		(154)		$ 63,621
Genosity
Business Acquisition [Line Items]
Percentage of diluted interest acquired	100.00%
Business combination, total purchase consideration	$ 196,000
Payments to acquire businesses, gross	120,000
Total stock-based compensation expense		$ 400
Contingent consideration	7,000		$ 3,200
Reduction in contingent consideration			$ 3,800
Genosity | RSU
Business Acquisition [Line Items]
Business acquisition, value of units granted	$ 5,000
Genosity
Business Acquisition [Line Items]
Business acquisition common stock issued (in shares)	1.9

Business combinations - Ciitize

Business combinations - Ciitizen (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Change in fair value of contingent consideration		$ 154	$ (63,621)
Total stock-based compensation expense		46,822	$ 58,775
Ciitizen
Business Acquisition [Line Items]
Percentage of diluted interest acquired	100.00%
Business combination, total purchase consideration	$ 308,300
Payments to acquire businesses, gross	$ 87,400
Business acquisition common stock issued (in shares)	6.3
Contingent consideration		6,300
Change in fair value of contingent consideration		(5,800)
Total stock-based compensation expense		$ 24,900
Ciitizen | Indemnification obligations
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 10,400
Business acquisition common stock issued (in shares)	0.8
Ciitizen | RSU
Business Acquisition [Line Items]
Business acquisition, value of units granted	$ 246,900

Goodwill and intangible asset_2

Goodwill and intangible assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Change in carrying amount of goodwill	$ 0

Goodwill and intangible asset_3

Goodwill and intangible assets - Schedule of intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (119,393)	$ (99,240)
Total estimated future amortization expense	$ 1,137,853
Weighted-Average Useful Life (In Years)	10 years 8 months 12 days	10 years 4 months 24 days
Cost	$ 1,287,234	$ 1,287,234
Net	1,167,841	1,187,994
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost, finite intangible	41,515	41,515
Accumulated Amortization	(14,248)	(13,096)
Total estimated future amortization expense	$ 27,267	$ 28,419
Weighted-Average Useful Life (In Years)	10 years 9 months 18 days	10 years 9 months 18 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Cost, finite intangible	$ 1,174,506	$ 662,106
Accumulated Amortization	(100,132)	(81,902)
Total estimated future amortization expense	$ 1,074,374	$ 580,204
Weighted-Average Useful Life (In Years)	10 years 8 months 12 days	10 years 2 months 12 days
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Cost, finite intangible	$ 286	$ 286
Accumulated Amortization	(286)	(286)
Total estimated future amortization expense	$ 0	$ 0
Weighted-Average Useful Life (In Years)	0 years	0 years
Tradename
Finite-Lived Intangible Assets [Line Items]
Cost, finite intangible	$ 21,085	$ 21,085
Accumulated Amortization	(2,646)	(2,207)
Total estimated future amortization expense	$ 18,439	$ 18,878
Weighted-Average Useful Life (In Years)	12 years	12 years
Patent assets and licenses
Finite-Lived Intangible Assets [Line Items]
Cost, finite intangible	$ 495	$ 495
Accumulated Amortization	(145)	(136)
Total estimated future amortization expense	$ 350	$ 359
Weighted-Average Useful Life (In Years)	15 years	15 years
Right to develop new technology
Finite-Lived Intangible Assets [Line Items]
Cost, finite intangible	$ 19,359	$ 19,359
Accumulated Amortization	(1,936)	(1,613)
Total estimated future amortization expense	$ 17,423	$ 17,746
Weighted-Average Useful Life (In Years)	15 years	15 years
In-process research and development
Finite-Lived Intangible Assets [Line Items]
In-process research and development	$ 29,988	$ 542,388

Goodwill and intangible asset_4

Goodwill and intangible assets - Additional information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 20.2	$ 12.1

Goodwill and intangible asset_5

Goodwill and intangible assets - Summary of estimated future amortization expense of intangible assets with finite lives (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remainder of year)	$ 89,413
2023	118,461
2024	118,183
2025	116,429
2026	116,396
Thereafter	578,971
Total estimated future amortization expense	$ 1,137,853

Goodwill and intangible asset_6

Goodwill and intangible assets - Stratify Genomics Inc Narrative (Details) $ in Thousands, shares in Millions	1 Months Ended
	Dec. 31, 2021USD ($)shares
Stratify Genomics Inc
Finite-Lived Intangible Assets [Line Items]
Percentage of diluted interest acquired	100.00%
Business combination, total purchase consideration	$ 29,000
Business combination, liabilities incurred	4,200
Business combination, recognized identifiable assets acquired and liabilities assumed, cash and equivalents	$ 200
Stratify Genomics Inc
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, equity interest issued or issuable, number of shares | shares	1
Payments to acquire productive assets	$ 8,000
Asset acquisition, recognized identifiable assets acquired and liabilities assumed, deferred tax liabilities	8,700
Developed technology | Stratify Genomics Inc
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 37,500
Estimated useful life	8 years

Goodwill and intangible asset_7

Goodwill and intangible assets - Medneon Narrative (Details) $ in Thousands, shares in Millions	1 Months Ended
	Jul. 31, 2021USD ($)shares
Medneon
Finite-Lived Intangible Assets [Line Items]
Percentage of diluted interest acquired	100.00%
Business combination, total purchase consideration	$ 34,100
Business combination, liabilities incurred	4,900
Business combination, recognized identifiable assets acquired and liabilities assumed, cash and equivalents	$ 200
Medneon
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, equity interest issued or issuable, number of shares | shares	0.4
Payments to acquire productive assets	$ 12,900
Developed technology | Medneon
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 33,900
Estimated useful life	8 years

Balance sheet components - Sche

Balance sheet components - Schedule of inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Offsetting [Abstract]
Raw materials	$ 36,164	$ 27,178
Work in progress	6,446	5,342
Finished goods	847	996
Total inventory	$ 43,457	$ 33,516

Balance sheet components - Sc_2

Balance sheet components - Schedule of property and equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property and equipment
Total property and equipment, gross	$ 183,945	$ 163,022
Accumulated depreciation and amortization	(53,986)	(48,308)
Total property and equipment, net	129,959	114,714
Leasehold improvements
Property and equipment
Total property and equipment, gross	34,412	31,159
Laboratory equipment
Property and equipment
Total property and equipment, gross	66,350	61,317
Computer equipment
Property and equipment
Total property and equipment, gross	16,365	15,452
Furniture and fixtures
Property and equipment
Total property and equipment, gross	2,260	2,130
Construction-in-progress
Property and equipment
Total property and equipment, gross	62,319	52,039
Other
Property and equipment
Total property and equipment, gross	$ 2,239	$ 925

Balance sheet components - Addi

Balance sheet components - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Depreciation	$ 5,600	$ 3,800

Balance sheet components - Sc_3

Balance sheet components - Schedule of accrued liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and related expenses	$ 42,492	$ 35,877
Accrued expenses	32,193	32,136
Compensation and other liabilities associated with business combinations	15,019	11,622
Deferred revenue	6,963	9,431
Accrued interest	583	6,646
Other accrued liabilities	11,248	10,741
Total accrued liabilities	$ 108,498	$ 106,453

Balance sheet components - Othe

Balance sheet components - Other long-term liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Compensation and other liabilities associated with business combinations, non-current	$ 16,804	$ 27,919
Deferred revenue, non-current	2,519	663
Other	9,943	9,215
Total other long-term liabilities	$ 29,266	$ 37,797

Fair value measurements - Finan

Fair value measurements - Financial instruments at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 825,999	$ 1,036,118
Unrealized Gains	0	0
Unrealized Losses	(785)	(7)
Financial assets:	825,214	1,036,111
Cash equivalents	265,558	903,715
Restricted cash	10,275	10,275
Marketable securities	549,381	122,121
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	825,214	1,036,111
Total financial liabilities	12,951	22,800
Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	815,817	1,025,171
Total financial liabilities	0	0
Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	9,397	10,940
Total financial liabilities	0	0
Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Total financial liabilities	12,951	22,800
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	175,814	913,990
Unrealized Gains	0	0
Unrealized Losses	0	0
Money market funds | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	175,814	913,990
Money market funds | Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	175,814	913,990
Money market funds | Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	0	0
Money market funds | Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	0	0
U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	640,776	111,187
Unrealized Gains	0	0
Unrealized Losses	(773)	(6)
U.S. Treasury notes | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	640,003	111,181
U.S. Treasury notes | Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	640,003	111,181
U.S. Treasury notes | Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	0	0
U.S. Treasury notes | Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	0	0
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	9,409	10,941
Unrealized Gains	0	0
Unrealized Losses	(12)	(1)
U.S. government agency securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	9,397	10,940
U.S. government agency securities | Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	0	0
U.S. government agency securities | Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	9,397	10,940
U.S. government agency securities | Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets:	0	0
Stock payable liability | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	10,922	20,925
Stock payable liability | Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	0	0
Stock payable liability | Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	0	0
Stock payable liability | Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	10,922	20,925
Contingent consideration | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	2,029	1,875
Contingent consideration | Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	0	0
Contingent consideration | Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	0	0
Contingent consideration | Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	2,029	1,875
Other long-term liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	$ 12,951	$ 22,800

Fair value measurements - Addit

Fair value measurements - Additional information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers of assets and liabilities between Level 1, Level 2 and Level 3	$ 0		$ 0
Fair value of investments with unrealized losses	629,400,000
Change in fair value, income (expense)	$ 10,000,000	$ 3,400,000
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining contractual maturities	1 month
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining contractual maturities	9 months

Commitments and contingencies -

Commitments and contingencies - Leases (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2016
Operating Leased Assets [Line Items]
Finance lease, term of contract	3 years
New Leases | Office Facility In San Francisco
Operating Leased Assets [Line Items]
Operating lease, renewal term		10 years
Operating lease, term of contract		10 years
Security deposit		$ 4.6

Commitments and contingencies_2

Commitments and contingencies - Debt financing (Details) - USD ($)	1 Months Ended	3 Months Ended
	Oct. 31, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Sep. 30, 2019
Convertible debt
Long-term Purchase Commitment [Line Items]
Debt discounts and issuance costs		$ 34,210,000		$ 35,858,000
Interest expense		7,700,000	$ 2,200,000
2020 Term Loan | Secured Debt
Long-term Purchase Commitment [Line Items]
Aggregate principal amount	$ 135,000,000
Days prior to convertible debt extended maturity date	90 days
Debt discounts and issuance costs	$ 32,800,000
Interest expense		$ 5,900,000	$ 5,900,000
2020 Term Loan | Secured Debt | Maximum
Long-term Purchase Commitment [Line Items]
Prepayment fee	6.00%
2020 Term Loan | Secured Debt | Minimum
Long-term Purchase Commitment [Line Items]
Prepayment fee	4.00%
2020 Term Loan | Secured Debt | LIBOR
Long-term Purchase Commitment [Line Items]
Floor rate	2.00%
Basis spread on variable rate	8.75%
2024 Notes | Convertible debt
Long-term Purchase Commitment [Line Items]
Aggregate principal amount					$ 350,000,000
Percent of debt extended	80.00%

Commitments and contingencies_3

Commitments and contingencies - Convertible senior notes (Details)	1 Months Ended		3 Months Ended
	Apr. 30, 2021USD ($)tradingDay$ / shares	Sep. 30, 2019USD ($)tradingDay$ / shares	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Convertible debt
Debt Instrument [Line Items]
Interest expense | $			$ 7,700,000	$ 2,200,000
Amortization of debt issuance costs | $			1,600,000	$ 500,000
2024 Notes | Convertible debt
Debt Instrument [Line Items]
Aggregate principal amount | $		$ 350,000,000
Stated interest rate		2.00%
Conversion ratio		0.0336293
Conversion price (in dollars per share) | $ / shares		$ 29.74
Redemption price percentage		100.00%
Number of threshold trading days | tradingDay		20
Number of consecutive trading days | tradingDay		30
Threshold percentage of stock price trigger		130.00%
Threshold trading days immediately after five consecutive trading days | tradingDay		5
Maximum threshold percentage of stock price trigger		98.00%
Threshold trading days | tradingDay		30
2028 Notes | Convertible debt
Debt Instrument [Line Items]
Aggregate principal amount | $	$ 1,150,000,000
Stated interest rate	1.50%
Conversion ratio		0.0231589
Conversion price (in dollars per share) | $ / shares	$ 43.18
Redemption price percentage	100.00%
Number of threshold trading days | tradingDay	20
Number of consecutive trading days | tradingDay	30
Threshold percentage of stock price trigger	150.00%
Percent of par value	99.00%
Level 2 | 2024 Notes
Debt Instrument [Line Items]
Fair value | $			301,500,000
Level 2 | 2028 Notes
Debt Instrument [Line Items]
Fair value | $			$ 631,400,000

Commitments and contingencies_4

Commitments and contingencies - Components of debt (Details) - Convertible debt - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding principal	$ 1,499,996	$ 1,499,996
Unamortized debt discount and issuance costs	(34,210)	(35,858)
Net carrying amount, liability component	$ 1,465,786	$ 1,464,138

Commitments and contingencies_5

Commitments and contingencies - Other commitments and contingencies (Details) - USD ($) $ in Millions	Aug. 27, 2021	Mar. 31, 2022
Positive outcome of litigation
Debt Instrument [Line Items]
Damages	$ 4.7
Service agreements and laboratory supplies
Debt Instrument [Line Items]
Noncancelable unconditional purchase commitments		$ 55.2

Stockholders' equity - Schedule

Stockholders' equity - Schedule of convertible preferred and common stock (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Convertible preferred stock:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, end of period	0	125
Common stock:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning of period	228,116	185,886
Common stock issued in connection with public offering (in shares)	0	8,932
Common stock issued on exercise of stock options, net (in shares)	87	401
Common stock issued pursuant to vesting of RSUs (in shares)	621	712
Common stock issued pursuant to exercises of warrants (in shares)	0	208
Common stock issued pursuant to business combinations (in shares)	0	1,375
Shares outstanding, end of period	228,824	197,514

Stockholders' equity - Addition

Stockholders' equity - Additional information (Details) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	May 30, 2021USD ($)	Jan. 31, 2021USD ($)$ / sharesshares	Mar. 31, 2022USD ($)shares	Mar. 31, 2021USD ($)shares	Dec. 31, 2021shares	Aug. 31, 2017$ / shares
Class of Stock [Line Items]
Proceeds from issuance of common stock | $			$ 425	$ 2,551
Series A convertible preferred stock
Class of Stock [Line Items]
Preferred stock, conversion ratio						1
Preferred stock, par value (in dollars per share) | $ / shares						$ 0.0001
Liquidation preference per share (in dollars per share) | $ / shares						$ 0.001
Preferred stock, outstanding (in shares)			0
Underwritten public offering
Class of Stock [Line Items]
Proceeds from issuance of common stock | $		$ 460,000
Net proceeds from issuance of common stock | $		$ 434,300
Convertible preferred stock: | Series A convertible preferred stock
Class of Stock [Line Items]
Conversion of stock, shares converted (in shares)					124,913
Common stock
Class of Stock [Line Items]
Conversion of stock, shares issued (in shares)					124,913
Common stock issued in connection with public offering (in shares)			0	8,932,000
Common stock | Underwritten public offering
Class of Stock [Line Items]
Number of shares sold in underwritten public offering		8,900,000
Shares issued price per share (in dollars per share) | $ / shares		$ 51.50
2018 Sales Agreement | Cowen and Company, LLC
Class of Stock [Line Items]
Percentage of commission payable on gross proceeds	3.00%
2018 Sales Agreement | Maximum | Cowen and Company, LLC
Class of Stock [Line Items]
Proceeds from issuance of common stock | $	$ 400,000

Stock incentive plans - Additio

Stock incentive plans - Additional information (Details) - shares shares in Millions	1 Months Ended			3 Months Ended
	Dec. 31, 2020	Oct. 31, 2020	Jun. 30, 2019	Mar. 31, 2022
Stock incentive plans
Stock incentive plan
Vesting period				4 years
Stock incentive plans | RSU
Stock incentive plan
Vesting period				3 years
Stock incentive plans | PRSU
Stock incentive plan
Vesting period				2 years
Stock incentive plans | Stock options
Stock incentive plan
Vesting rate upon anniversaries				25.00%
Monthly vesting rate thereafter				2.08%
Stock incentive plans | First anniversary | RSU
Stock incentive plan
Vesting rate upon anniversaries				33.33%
Stock incentive plans | Second anniversary | RSU
Stock incentive plan
Vesting rate upon anniversaries				33.33%
Stock incentive plans | Third anniversary | RSU
Stock incentive plan
Vesting rate upon anniversaries				33.33%
Minimum | 2010 Plan
Stock incentive plan
Employees holding voting rights of all classes of stock				10.00%
Exercise price of options on common stock				110.00%
Maximum | 2010 Plan
Stock incentive plan
Term of options granted				10 years
ArcherDX | Stock incentive plans | RSU
Stock incentive plan
Vesting period	2 years
ArcherDX | Stock incentive plans | Stock options
Stock incentive plan
Number of options issued and vested (in shares)		3.7
Singular Bio | Stock incentive plans | PRSU
Stock incentive plan
Vesting period				18 months
Singular Bio | Stock incentive plans | First anniversary | RSU
Stock incentive plan
Vesting rate upon anniversaries			33.33%
Singular Bio | Stock incentive plans | Second anniversary | RSU
Stock incentive plan
Vesting rate upon anniversaries			33.33%
Singular Bio | Stock incentive plans | Third anniversary | RSU
Stock incentive plan
Vesting rate upon anniversaries			33.33%

Stock incentive plans - Schedul

Stock incentive plans - Schedule of activity under the plans (Details) - Stock incentive plans - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2021	Dec. 31, 2021
Stock options
Activity under the plan
Shares available for grant, beginning balance (in shares)	10,242
Stock options outstanding, beginning balance (in shares)	3,034
Additional shares reserved (in shares)	9,125
Options cancelled (in shares)	(20)
Options exercised (in shares)	(87)
Shares available for grant, ending balance (in shares)	19,561
Stock options outstanding, ending balance (in shares)	2,927
Weighted-Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 11.98
Options cancelled (in dollars per share)	6.44
Options exercised (in dollars per share)	4.91
Balance at the end of the period (in dollars per share)	$ 12.23
Additional information
Weighted-average remaining contractual life	5 years 1 month 6 days	5 years 6 months
Aggregate Intrinsic Value	$ 1,900		$ 16,431
Exercisable, number of shares	2,538
Exercisable, weighted-average exercise price (in dollars per share)	$ 10.07
Exercisable, weighted-average remaining contractual life	4 years 7 months 6 days
Exercisable, aggregate intrinsic value	$ 1,834
Vested and expected to vest
Number of shares	2,912
Weighted-average exercise price (in dollars per share)	$ 12.20
Weighted-average remaining contractual life	5 years 1 month 6 days
Aggregate intrinsic value	$ 1,895
RSUs and PRSUs
Activity under the plan
Granted (in shares)	(342)
Cancelled (in shares)	516

Stock incentive plans - Summary

Stock incentive plans - Summary of RSU activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
RSUs and PRSUs
Number of Shares
Balance at the beginning of the period (in shares) | shares	16,247
Balance at the end of the period (in shares) | shares	15,450
Weighted- Average Grant Date Fair Value Per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 26.21
Balance at the end of the period (in dollars per share) | $ / shares	$ 25.89
RSU
Number of Shares
Granted (in shares) | shares	342
Vested stock units awarded (in shares) | shares	(623)
Cancelled (in shares) | shares	(516)
Weighted- Average Grant Date Fair Value Per Share
Granted (in dollars per share) | $ / shares	$ 11.17
Vested (in dollars per share) | $ / shares	24.66
Cancelled (in dollars per share) | $ / shares	$ 27.82

Stock incentive plans - Summa_2

Stock incentive plans - Summary of stock based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-based compensation
Total stock-based compensation expense	$ 46,822	$ 58,775
Cost of revenue
Stock-based compensation
Total stock-based compensation expense	1,865	2,185
Research and development
Stock-based compensation
Total stock-based compensation expense	31,994	15,534
Selling and marketing
Stock-based compensation
Total stock-based compensation expense	2,909	3,431
General and administrative
Stock-based compensation
Total stock-based compensation expense	$ 10,054	$ 37,625

Net loss per share - Schedule o

Net loss per share - Schedule of earnings per share, basic and diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss	$ (181,859)	$ (109,492)
Shares used in computing net loss per share, basic	228,470	194,000
Shares used in computing net loss per share, diluted	228,470	194,000
Net loss per share, basic (in dollars per share)	$ (0.80)	$ (0.56)
Net loss per share, diluted (in dollars per share)	$ (0.80)	$ (0.56)

Net loss per share - Schedule_2

Net loss per share - Schedule of antidilutive securities excluded from computation of earnings per share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	58,738	23,397
Shares of common stock subject to outstanding options
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	2,972	4,679
Shares of common stock subject to outstanding warrants
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	0	118
Shares of common stock subject to outstanding RSUs and PRSUs
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	15,935	6,531
Shares of common stock pursuant to ESPP
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	1,428	174
Shares of common stock underlying Series A convertible preferred stock
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	0	125
Shares of common stock subject to Convertible Senior Notes conversion
Antidilutive shares excluded from diluted net loss per share
Total shares of common stock equivalents (in shares)	38,403	11,770

Geographic information - Schedu

Geographic information - Schedule of revenue by country (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Geographic information
Total revenue	$ 123,691	$ 103,621
United States
Geographic information
Total revenue	108,295	90,412
Canada
Geographic information
Total revenue	2,297	1,543
United Kingdom
Geographic information
Total revenue	2,147	1,645
Germany
Geographic information
Total revenue	2,020	2,797
Rest of world
Geographic information
Total revenue	$ 8,932	$ 7,224

Uncategorized Items - nvta-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]