Quanterix (QTRX) 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Document and Entity Information
Entity Registrant Name	Quanterix Corp
Entity Central Index Key	0001503274
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Common Stock, Shares Outstanding		25,165,086
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 72,025	$ 44,429
Accounts receivable (less reserve for doubtful accounts of $59 and $36 as of June 30, 2019 and December 31, 2018, respectively; including $95 and $48 from related parties as of June 30, 2019 and December 31, 2018, respectively)	9,134	6,792
Inventory	8,850	5,945
Prepaid expenses and other current assets	2,377	2,330
Total current assets	92,386	59,496
Restricted cash	1,026	1,000
Property and equipment, net	12,082	2,923
Intangible assets, net	2,054	2,348
Goodwill	1,308	1,308
Other non-current assets	552	536
Total assets	109,408	67,611
Current liabilities:
Accounts payable (including $11 and $36 to related parties as of June 30, 2019 and December 31, 2018, respectively)	3,510	5,110
Accrued compensation and benefits	4,150	4,449
Other accrued expenses (including $207 and $226 to related parties as of June 30, 2019 and December 31, 2018, respectively)	4,019	3,129
Deferred revenue (including $17 and $33 with related parties as of June 30, 2019 and December 31, 2018, respectively)	5,186	5,437
Current portion of long term debt	75
Other current liabilities	78
Total current liabilities	17,018	18,125
Deferred revenue, net of current portion	374	520
Long term debt, net of current portion	7,544	7,623
Other non-current liabilities	9,727	278
Total liabilities	34,663	26,546
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.001 par value: Authorized—120,000,000 shares as of June 30, 2019 and December 31, 2018; issued and outstanding — 24,894,019 and 22,369,036 shares as of June 30, 2019 and December 31, 2018, respectively	25	22
Additional paid-in capital	270,136	216,931
Accumulated deficit	(195,416)	(175,888)
Total stockholders’ equity	74,745	41,065
Total liabilities and stockholders’ equity	$ 109,408	$ 67,611

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Condensed Consolidated Balance Sheet
Accounts receivable, reserve for doubtful accounts	$ 59	$ 36
Accounts receivable, related parties	95	48
Accounts payable, related parties	11	36
Other accrued expenses, related parties	207	226
Deferred revenue, current, related parties	$ 17	$ 33
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	120,000,000	120,000,000
Common stock, shares issued	24,894,019	22,369,036
Common stock, shares outstanding	24,894,019	22,369,036

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Total revenue	$ 13,536	$ 8,643	$ 25,872	$ 16,164
Cost of goods sold:
Total costs of goods sold and services	6,605	4,670	12,936	9,019
Gross profit	6,931	3,973	12,936	7,145
Operating expense:
Research and development (including stock compensation of $180 and $138 for the three months ended June 30, 2019 and 2018, respectively, and $348 and $209 for the six months ended June 30, 2019 and 2018, respectively)	4,016	3,705	7,868	7,349
Selling, general and administrative (including stock compensation of $1,337 and $682 for the three months ended June 30, 2019 and 2018, respectively, and $2,376 and $1,205 for the six months ended June 30, 2019 and 2018, respectively)	13,429	7,579	24,941	14,271
Total operating expenses	17,445	11,284	32,809	21,620
Loss from operations	(10,514)	(7,311)	(19,873)	(14,475)
Interest income (expense), net	42	16	64	(9)
Other income (expense), net	(68)	(48)	(115)	(61)
Loss before income tax	(10,540)	(7,343)	(19,924)	(14,545)
Income tax provision	23		44
Net loss	$ (10,563)	$ (7,343)	$ (19,968)	$ (14,545)
Net loss per share, basic and diluted	$ (0.46)	$ (0.34)	$ (0.88)	$ (0.67)
Weighted-average common shares outstanding, basic and diluted	23,213,653	21,890,978	22,820,502	21,840,074
Product revenue
Total revenue	$ 8,776	$ 5,200	$ 18,322	$ 9,945
Cost of goods sold:
Total costs of goods sold and services	4,455	2,945	8,704	5,718
Service and other revenue
Total revenue	4,760	3,174	7,550	5,682
Cost of goods sold:
Total costs of goods sold and services	$ 2,150	1,725	$ 4,232	3,301
Collaboration and license revenue
Total revenue		$ 269		$ 537

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cost of product revenue, related party activity	$ 35	$ 47	$ 70	$ 122
Stock compensation expense in cost of goods sold	27	19	44	29
Stock compensation expense in research and development expenses	180	138	348	209
Stock compensation expense in selling, general and administrative expenses	1,337	682	2,376	1,205
Product revenue
Related party revenue	126	43	205	136
Service and other revenue
Related party revenue	19	58	42	97
Stock compensation expense in cost of goods sold	57	51	117	83
Collaboration and license revenue
Related party revenue	$ 0	$ 269	$ 0	$ 537

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net loss	$ (19,968)	$ (14,545)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	953	609
Stock-based compensation expense	2,885	1,526
Non-cash interest expense	46	99
Gain on disposal of fixed assets	14
Changes in operating assets and liabilities:
Accounts receivable	(2,296)	2,223
Prepaid expenses and other assets	302	(681)
Inventory	(2,905)	(1,087)
Other non-current assets	2
Accounts payable	(1,600)	(626)
Accrued compensation and benefits, other accrued expenses and other current liabilities	669	(957)
Contract acquisition costs	(60)
Deferred revenue	(310)	(531)
Other non-current liabilities	9,448
Net cash used in operating activities	(12,820)	(13,970)
Investing activities
Purchases of property and equipment	(9,830)	(690)
Acquisitions, net of cash acquired		(3,001)
Net cash used in investing activities	(9,830)	(3,691)
Financing activities
Proceeds from sale of common stock, net of issuance costs		(53)
Proceeds from stock options exercised	1,910	381
Proceeds from ESPP purchase	393
Payments on notes payable	(50)	(1,875)
Net cash provided (used in) by financing activities	50,272	(1,547)
Net decrease in cash and cash equivalents	27,622	(19,208)
Cash, restricted cash, and cash equivalents at beginning of period	45,429	79,682
Cash, restricted cash, and cash equivalents at end of period	73,051	60,474
Supplemental cash flow information
Cash paid for interest	160	347
Purchases of property and equipment included in accounts payable	279	29
Purchases of property and equipment included in other non-current liabilities	8,057
Reconciliation of cash, cash equivalents, and restricted cash:
Total cash, cash equivalents, and restricted cash	45,429	$ 79,682
At Market Offering [Member]
Financing activities
Proceeds from sale of common stock, net of issuance costs	$ 48,019

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Accumulated deficit	Total
Beginning Balance at Dec. 31, 2017	$ 22	$ 210,196	$ (144,352)	$ 65,866
Beginning balance (in shares) at Dec. 31, 2017	21,707,041
Increase (Decrease) in Stockholders' Equity
Exercise of common stock warrants (in shares)	16,718
Exercise of common stock options and vesting restricted stock		381		381
Exercise of common stock options and vesting restricted stock (in shares)	256,922
Stock-based compensation expense		1,526		1,526
Net loss			(14,545)	(14,545)
Ending Balance at Jun. 30, 2018	$ 22	212,050	(158,897)	53,175
Ending Balance (in shares) at Jun. 30, 2018	21,980,681
Beginning Balance at Mar. 31, 2018	$ 22	210,863	(151,554)	59,331
Beginning balance (in shares) at Mar. 31, 2018	21,823,282
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options and vesting restricted stock		297		297
Exercise of common stock options and vesting restricted stock (in shares)	157,399
Stock-based compensation expense		890		890
Net loss			(7,343)	(7,343)
Ending Balance at Jun. 30, 2018	$ 22	212,050	(158,897)	53,175
Ending Balance (in shares) at Jun. 30, 2018	21,980,681
Beginning Balance at Dec. 31, 2018	$ 22	216,931	(175,888)	41,065
Beginning balance (in shares) at Dec. 31, 2018	22,369,036
Increase (Decrease) in Stockholders' Equity
Sale of common stock in at-the-market offering	$ 2	48,017		48,019
Sale of common stock in at-the-market offering, shares	2,186,163
Exercise of common stock options and vesting restricted stock	$ 1	1,910		1,911
Exercise of common stock options and vesting restricted stock (in shares)	318,770
ESPP stock purchase		393		393
ESPP stock purchase (in shares)	20,050
Stock-based compensation expense		2,885		2,885
Net loss			(19,968)	(19,968)
Ending Balance at Jun. 30, 2019	$ 25	270,136	(195,416)	74,745
Ending Balance (in shares) at Jun. 30, 2019	24,894,019
Beginning Balance at Mar. 31, 2019	$ 23	219,045	(184,853)	34,215
Beginning balance (in shares) at Mar. 31, 2019	22,491,447
Increase (Decrease) in Stockholders' Equity
Sale of common stock in at-the-market offering	$ 2	48,017		48,019
Sale of common stock in at-the-market offering, shares	2,186,163
Exercise of common stock options and vesting restricted stock		1,408		1,408
Exercise of common stock options and vesting restricted stock (in shares)	216,409
ESPP stock purchase		65		65
Stock-based compensation expense		1,601		1,601
Net loss			(10,563)	(10,563)
Ending Balance at Jun. 30, 2019	$ 25	$ 270,136	(195,416)	74,745
Ending Balance (in shares) at Jun. 30, 2019	24,894,019
Increase (Decrease) in Stockholders' Equity
Cumulative-effect adjustment for the adoption of ASC 606			$ 440	$ 440

Organization and operations

Organization and operations	6 Months Ended
	Jun. 30, 2019
Organization and operations
Organization and operations	1. Organization and operations Quanterix Corporation (Nasdaq: QTRX) (the Company) is a life sciences company that has developed next generation, ultra-sensitive digital immunoassay platforms that advance precision health for life sciences research and diagnostics. The Company's platforms are based on its proprietary digital "Simoa" detection technology. The Company's Simoa bead-based and planar array platforms enable customers to reliably detect protein biomarkers in extremely low concentrations in blood, serum and other fluids that, in many cases, are undetectable using conventional, analog immunoassay technologies, and also allow researchers to define and validate the function of novel protein biomarkers that are only present in very low concentrations and have been discovered using technologies such as mass spectrometry. These capabilities provide the Company's customers with insight into the role of protein biomarkers in human health that has not been possible with other existing technologies and enable researchers to unlock unique insights into the continuum between health and disease. The Company is currently focusing on protein detection, but is also developing its bead-based technology to detect nucleic acids in biological samples. The Company currently markets the Simoa HD-1, a fully automated immunoassay bead-based platform with multiplexing and custom assay capability, and related assay test kits and consumable materials. The Company launched a second bead-based immunoassay platform (SR-X) in the fourth quarter of 2017 with a more compact footprint than the Simoa HD-1 and less automation designed for lower volume requirements while still allowing multiplexing and custom assay capability. The Company initiated an early-access program for its third instrument (SP-X) on the new Simoa planar array platform in January 2019, with the full commercial launch commencing in April 2019. This compact instrument has the ability to reach a 10 plex and has custom assay capability. The Company also performs research services on behalf of customers to apply the Simoa technology to specific customer needs. The Company's customers are primarily in the research use only market, which includes academic and governmental research institutions, the research and development laboratories of pharmaceutical manufacturers, contract research organizations, and specialty research laboratories. The Company acquired Aushon Biosystems, Inc. (Aushon) in January 2018. With the acquisition of Aushon, the Company acquired a CLIA certified laboratory, as well as Aushon's proprietary sensitive planar array detection technology. Leveraging its proprietary sophisticated Simoa image analysis and data analysis algorithms, the Company further refined this planar array technology to develop the SP-X instrument to provide the same Simoa sensitivity found in its bead-based platform. The Company believes that its existing unrestricted cash and cash equivalents of approximately $73.1 million at June 30, 2019 will be sufficient to allow the Company to fund its current operating plan through at least twelve months from the filing of the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019. The Company may require additional financing in the future to fund working capital and pay its obligations as they come due. Additional financing might include issuance of equity securities, debt, cash from collaboration agreements or a combination of these. However, there can be no assurance that the Company will be successful in acquiring additional funding at levels sufficient to fund its operations or on terms favorable to the Company. At-the-market offering On March 19, 2019, the Company entered into a Sales Agreement (the Sales Agreement) with Cowen and Company, LLC (Cowen) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, par value $0.001 per share, having an aggregate offering price of up to $50.0 million through Cowen as its sales agent. On June 5, 2019, the Company issued approximately 2.2 million shares of common stock at an average stock price of $22.73 per share pursuant to the terms of the Sales Agreement. The at-the-market offering resulted in gross proceeds of $49.7 million. The Company incurred $1.7 million in issuance costs associated with the at-the-market offering, resulting in net proceeds to the Company of $48.0 million. Basis of presentation The interim condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of our management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, comprehensive loss and cash flows for each period presented in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2018 filed with the Securities and Exchange Commission on March 18, 2019 (the 2018 Annual Report on Form 10-K). The consolidated financial information as of December 31, 2018 has been derived from the audited 2018 consolidated financial statements included in the Company’s 2018 Annual Report on Form 10‑K.

Significant accounting policies

Significant accounting policies	6 Months Ended
	Jun. 30, 2019
Significant accounting policies
Significant accounting policies	2. Significant accounting policies Principles of consolidation The condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Quanterix Corporation and its wholly‑owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. In making those estimates and assumptions, the Company bases its estimates on historical experience and on various other assumptions believed to be reasonable. The Company’s significant estimates included in the preparation of the consolidated financial statements are related to revenue recognition, fair value of equity instruments and notes receivable, fair value of assets acquired and liabilities assumed in acquisitions, valuation allowances recorded against deferred tax assets, and stock‑based compensation. Actual results could differ from those estimates. Business combinations Under the acquisition method of accounting, the Company allocates the fair value of the total consideration transferred to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the date of acquisition. The fair values assigned, defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants, are based on estimates and assumptions determined by management. The excess consideration over the aggregate fair value of tangible and intangible assets, net of liabilities assumed, is recorded as goodwill. These valuations require significant estimates and assumptions, especially with respect to intangible assets. The Company typically uses the discounted cash flow method to value acquired intangible assets. This method requires significant management judgment to forecast future operating results and establish residual growth rates and discount factors. The estimates used to value and amortize intangible assets are consistent with the plans and estimates that are used to manage the business and are based on available historical information and industry estimates and averages. If the subsequent actual results and updated projections of the underlying business activity change compared with the assumptions and projections used to develop these values, the Company could experience impairment charges. In addition, the Company has estimated the economic lives of certain acquired assets and these lives are used to calculate depreciation and amortization expense. If estimates of the economic lives change, depreciation or amortization expenses could be accelerated or slowed. Restricted cash Restricted cash primarily represents collateral for a letter of credit issued as security for the lease for the Company’s new headquarters. The restricted cash is long term in nature as the Company will not have access to the funds until more than one year from June 30, 2019. Recent accounting pronouncements The Company is considered to be an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (JOBS Act). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to avail itself of this extended transition period and, as a result, the Company will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies so long as the Company remains an emerging growth company. On January 1, 2019, the Company adopted Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606), using the modified retrospective method. Under ASC 606, revenue is recognized upon the transfer of control of goods or services to customers and reflects the amount of consideration to which an entity expects to be entitled in exchange for those goods or services. The adoption of ASC 606 has been applied to customer contracts that were not completed as of January 1, 2019, and did not materially change the pattern of revenue recognition for its current customer contracts. The Company's consolidated financial statements for the prior-year period have not been revised and are reflective of the revenue recognition requirements which were in effect for that period. The Company recorded an adjustment to the accumulated deficit of $0.4 million as of January 1, 2019 for the cumulative effect primarily related to the deferral of sales commissions. In accordance with the reporting requirements of ASC 606, the disclosure of the impact on the Company's consolidated balance sheet and statement of operations, as a result of adopting the provisions of ASC 606, was as follows (in thousands): Prior to adoption of As Adjusted under As reported ASC 606 reported ASC 606 June 30, June 30, December 31, 2018 Adjustments January 1, 2019 2019 Adjustments 2019 Assets: Accounts receivable $ 6,792 $ 47 $ 6,839 $ 9,134 $ — $ 9,134 Prepaid expenses and other current assets 2,330 288 2,618 2,377 35 2,342 Other non-current assets 536 19 555 552 — 552 Liabilities: Deferred revenue 5,437 43 5,394 5,186 234 5,420 Deferred revenue, net of current portion 520 43 477 374 33 407 Stockholders’ equity: Accumulated deficit $ (175,888) $ (440) $ (175,448) $ (195,416) $ (302) $ (195,718) For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 Under ASC Under ASC Under ASC 606 Adjustment 605 Under ASC 606 Adjustment 605 Product revenue $ 8,776 $ (16) $ 8,760 $ 18,322 $ (49) $ 18,273 Service revenue 4,760 26 4,786 7,550 131 7,681 COGS 6,605 2 6,607 12,936 3 12,939 Gross profit 6,931 8 6,939 12,936 79 13,015 Selling general and administrative expenses 13,429 35 13,464 24,941 59 25,000 Net loss $ (10,563) $ (27) $ (10,590) $ (19,968) $ 20 $ (19,948) The adoption of ASC 606 is discussed in further detail in Note 3. The Company adopted accounting standards update (ASU) 2016-01, which requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. For equity investments without readily determinable fair values that do not qualify for the practical expedient to estimate fair value using the net asset value per share or its equivalent, the Company has elected to measure these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. This election is made for each investment separately and is reassessed at each reporting period as to whether the investment continues to qualify for this election. Additionally, at each reporting period, the Company makes a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. The adoption of this standard did not have a material effect. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-02) , which establishes principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease . Under ASU 2016-02, lessees will be required to recognize a lease liability and a right-of-use asset for all leases (with the exception of short term leases) at the commencement date. ASU 2016-02 is effective for the Company for the year ending December 31, 2020. Early adoption is permitted. In 2018, the FASB modified ASU 2016-02 by issuing ASU 2018-01 and ASU 2018-11, which collectively added two practical expedients, provided a second modified retrospective transition method which does not require retrospective adjustment of prior periods, and provided certain narrow scope improvements to ASU 2016-02. The Company is currently evaluating the expected impact of ASU 2016-2 on its financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. The standard is effective for the Company beginning in the first quarter of 2020, with early adoption permitted. The Company is currently evaluating the expected impact of ASU 2016-13 on its financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment . This ASU eliminates Step 2 from the goodwill impairment test. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect adoption of this ASU to be material to its financial statements. There have been no other material changes to the significant accounting policies and recent accounting pronouncements previously disclosed in the 2018 Annual Report on Form 10‑K.

Revenue recognition

Revenue recognition	6 Months Ended
	Jun. 30, 2019
Revenue recognition
Revenue recognition	3. Revenue recognition The Company recognizes revenue when a customer obtains control of a promised good or service. The amount of revenue recognized reflects consideration that the Company expects to be entitled to receive in exchange for these goods and services, incentives and taxes collected from customers, that are subsequently remitted to governmental authorities. The Company adopted ASC 606 on January 1, 2019, using the modified retrospective method for all contracts not completed as of the date of adoption. The reported results for 2019 reflect the application of ASC 606 guidance, while the reported results for 2018 were prepared under ASC 605, Revenue Recognition . Customers The Company’s customers primarily consist of entities engaged in the life sciences research market that pursue the discovery and development of new drugs for a variety of neurologic, cardiovascular, oncologic and other protein biomarkers associated with diseases. The Company’s customer base exceeds 200 customers and includes several of the largest biopharmaceutical companies, academic research organizations and distributors who serve certain geographic markets. Product revenue The Company’s products are composed of analyzer instruments, assay kits and other consumables such as reagents. Products are sold directly to biopharmaceutical and academic research organizations or are sold through distributors in EMEA and Asia Pacific regions. The sales of instruments are generally accompanied by an initial year of implied service-type warranties and may be bundled with assays and other consumables and may also include other items such as training and installation of the instrument and/or an extended service warranty. Revenues from the sale of products are recognized at a point in time when the Company transfers control of the product to the customer, which is upon installation for instruments sold to direct customers, and based upon shipping terms for assay kits and other consumables. Revenue for instruments sold to distributors is generally recognized based upon shipping terms (either upon shipment or delivery). Service and other revenue Service revenues are composed of contract research services, initial implied one-year service-type warranties, extended services contracts and other services such as training. Contract research services are provided through the Company’s Accelerator Laboratory and generally consist of fixed fee contracts. Revenues from contract research services are recognized at a point in time when the Company completes and delivers its research report on each individually completed study, or over time if the contractual provisions allow for the collection of transaction consideration for costs incurred plus a reasonable margin through the period of performance of the services. Revenues from service-type warranties are recognized ratably over the contract service period. Revenues from other services are immaterial. Collaboration and license revenue The Company may enter into agreements to license the intellectual property and know-how associated with its instruments in exchange for license fees and future royalties (as described below). The license agreements provide the licensee with a right to use the intellectual property with the license fee revenues recognized at a point in time as the underlying license is considered functional intellectual property. The Company has not recognized any revenues from royalties. Payment terms The Company’s payment terms vary by the type and location of customer and the products or services offered. Payment from customers is generally required in a term ranging from 30 to 45 days from date of shipment or satisfaction of the performance obligation with no discounts for early payment. The Company does not provide extended payment terms or financing arrangements to its customers. Disaggregated revenue When disaggregating revenue, the Company considered all of the economic factors that may affect its revenues. The following tables disaggregate the Company's revenue from contracts with customers by revenue type: Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 (in thousands) NA EMEA Asia Pacific Total NA EMEA Asia Pacific Total Product revenues Instruments $ 1,159 $ 893 $ 651 $ 2,703 $ 2,556 $ 2,038 $ 1,525 $ 6,119 Consumable and other products 3,655 2,095 323 6,073 7,274 4,183 747 12,204 Totals $ 4,814 $ 2,988 $ 974 $ 8,776 $ 9,830 $ 6,221 $ 2,271 $ 18,322 Service and other revenues Service-type warranties $ 814 $ 300 $ 28 $ 1,142 $ 1,503 $ 534 $ 65 $ 2,102 Research services 2,771 223 213 3,207 4,275 223 213 4,711 Other services 200 209 2 411 401 317 19 737 Totals $ 3,785 $ 732 $ 243 $ 4,760 $ 6,179 $ 1,074 $ 297 $ 7,550 The Company’s contracts with customers may include promises to transfer multiple products and services to a customer. The Company will combine any performance obligations that are immaterial with one or more other performance obligations that are material to the contract. For arrangements with multiple performance obligations, the Company allocates the contract transaction price, including discounts, to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company determines standalone selling prices based on prices charged to customers in observable transactions, and uses a range of amounts to estimate standalone selling prices for each performance obligation. The Company may have more than one range of standalone selling price for certain products and services based on the pricing for different customer classes. Variable consideration in the Company’s contracts primarily relates to (i) sales- and usage-based royalties related to the license of intellectual property in collaboration and license contracts and (ii) certain non-fixed fee research services contracts. ASC 606 provides for an exception to estimating the variable consideration for sales- and usage-based royalties related to the license of intellectual property, such that the sales- or usage-based royalty will be recognized in the period the underlying transaction occurs. The Company has not recorded any sales- or usage-based royalty revenue for the three and six months ended June 30, 2019. The aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied or are partially satisfied as of June 30, 2019 is $5.6 million. Of the performance obligations not yet satisfied or are partially satisfied, $5.2 million is expected to be recognized as revenue in the next 12 months, with the remainder to be recognized within the 24 months thereafter. The $5.6 million principally consists of $3.0 million billed for undelivered services related to initial and extended service-type warranties and research services, as well as $1.7 million related to undelivered licenses of intellectual property for a diagnostics company (see Note 12 below). Changes in deferred revenue from contracts with customers were as follows (in thousands): Six Months Ended June 30, 2019 Balance at December 31, 2018 $ 5,957 606 adoption adjustment (86) Deferral of revenue 1,791 Recognition of deferred revenue (2,102) Balance at June 30, 2019 $ 5,560 Costs to obtain a contract The Company’s sales commissions are generally based on revenues of the Company. The Company has determined that certain commissions paid under its sales incentive programs meet the requirements to be capitalized as they are incremental and would not have occurred absent a customer contract. The change in the balance of costs to obtain a contract are as follows (in thousands): Six Months Ended June 30, 2019 Balance at December 31, 2018 $ — 606 adoption adjustment 307 Deferral of costs to obtain a contract 450 Recognition of costs to obtain a contract (392) Balance at June 30, 2019 $ 365 The Company has classified the balance of capitalized costs to obtain a contract as a component of prepaid expenses and other current assets as of January 1, 2019 and June 30, 2019 and classifies the expense as a component of cost of goods sold and selling, general and administrative expense over the estimated life of the contract. The Company considers potential impairment in these amounts each period. ASC 606 provides entities with certain practical expedients and accounting policy elections to minimize the cost and burden of adoption. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed. The Company will exclude from its transaction price any amounts collected from customers related to sales and other similar taxes. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. The Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of January 1, 2019 or June 30, 2019. The Company has elected to account for the shipping and handling as an activity to fulfill the promise to transfer the product, and therefore will not evaluate whether shipping and handling activities are promised services to its customers.

Net loss per share

Net loss per share	6 Months Ended
	Jun. 30, 2019
Net loss per share
Net loss per share	4. Net loss per share Basic net loss per common share is calculated by dividing the net loss by the weighted‑average number of common shares outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted‑average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury‑stock and if‑converted methods. For purposes of the diluted net loss per share calculation, unvested restricted common stock, restricted stock units, stock options, and warrants are considered to be potentially dilutive securities, but are excluded from the calculation of diluted net loss per share because their effect would be anti‑dilutive and therefore basic and diluted net loss per share were the same for all periods presented. The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because to do so would be anti‑dilutive (in common stock equivalent shares): June 30, 2019 2018 Unvested restricted common stock and restricted stock units 436,985 Outstanding stock options 2,640,072 2,543,478 Outstanding warrants 76,041 76,041 Total 3,153,098 2,770,362 As of June 30, 2019 and 2018, the Company had an obligation to issue warrants to purchase an additional 93,341 shares of common stock to a vendor if a contract is terminated prior to a minimum purchase commitment being met. No amounts are presented in the table above for this obligation to issue a warrant as the issuance of the warrant is not considered probable.

Fair value of financial instrum

Fair value of financial instruments	6 Months Ended
	Jun. 30, 2019
Fair value of financial instruments
Fair value of financial instruments	5. Fair value of financial instruments ASC Topic 820, Fair Value Measurement (ASC 820), establishes a fair value hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three‑tier fair value hierarchy that distinguishes between the following: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; and Level 3 inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Fair value measurements as of June 30, 2019 are as follows (in thousands): Quoted prices Significant in active Significant other unobservable markets observable inputs Description Total (Level 1) inputs (Level 2) (Level 3) Financial assets Cash equivalents $ 43,266 $ 43,266 $ — $ — Note receivable 150 — — 150 $ 43,416 $ 43,266 $ — $ 150 Fair value measurements as of December 31, 2018 are as follows (in thousands): Quoted prices Significant in active Significant other unobservable markets observable inputs Description Total (Level 1) inputs (Level 2) (Level 3) Financial assets Cash equivalents $ 42,608 $ 42,608 — $ — Note receivable 150 — — 150 $ 42,758 $ 42,608 — $ 150

Inventory

Inventory	6 Months Ended
	Jun. 30, 2019
Inventory
Inventory	6. Inventory Inventory consists of the following (in thousands): June 30, 2019 December 31, 2018 Raw materials $ 3,717 $ 1,546 Work in process 2,334 2,331 Finished goods 2,799 2,068 Total $ 8,850 $ 5,945 Inventory comprises commercial instruments, assays, and the materials required to manufacture assays.

Investments

Investments	6 Months Ended
	Jun. 30, 2019
Investments
Investments	7. Investments During the third quarter of 2016, the Company purchased a minority interest in preferred stock in a privately held company for $0.3 million. During the third quarter of 2018, the Company was issued a convertible note by a privately held company having a principal amount of $0.2 million. The preferred stock investment is recorded on a cost basis in other non-current assets on the accompanying balance sheets as the Company does not have a controlling interest, does not have the ability to exercise significant influence over the privately held company, and the fair value of the equity investment is not readily determinable. The Company performs an impairment analysis at each reporting period to determine if there is any readily available fair value information that would indicate an impairment. The Company has determined there was no impairment during the six months ended June 30, 2019 or in any prior period. The convertible note is held as an available-for-sale investment, which is carried at fair market value, with the unrealized gains and losses included in the determination of comprehensive income and reporting stockholders equity. When determining the estimated fair value of the convertible notes, the Company used a commonly accepted valuation methodology. Equity investments that do not result in consolidation and are not accounted for under the equity method are measured at fair value, with any changes in fair value recognized in net income. For any such investments that do not have readily determinable fair values, the Company elects the measurement alternative to measure the investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.

Other accrued expenses

Other accrued expenses	6 Months Ended
	Jun. 30, 2019
Other accrued expenses
Other accrued expenses	8. Other accrued expenses Other accrued expenses consist of the following (in thousands): June 30, 2019 December 31, 2018 Accrued inventory $ 1,320 $ 599 Accrued royalties 472 323 Accrued professional services 884 723 Accrued development costs 733 795 Accrued other 610 689 Total accrued expenses $ 4,019 $ 3,129

Warrants, stock-based compensat

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units	6 Months Ended
	Jun. 30, 2019
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units	9. Warrants, stock-based compensation, stock options, restricted stock and restricted stock units Warrants The Company issued no warrants during the six months ended June 30, 2019 and had 76,041 warrants outstanding as of June 30, 2019. Stock-based compensation Stock‑based compensation expense for all stock awards consists of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Cost of product revenue $ 27 $ 19 $ 44 $ 29 Cost of service and other revenue 57 51 117 83 Research and development 180 138 348 209 General and administrative 1,337 682 2,376 1,205 Total $ 1,601 $ 890 $ 2,885 $ 1,526 As of June 30, 2019, under the 2007 Stock Option and Grant Plan (the 2007 Plan), options to purchase 1,383,218 shares of common stock were outstanding and no shares of common stock were available for future awards. In connection with the completion of the IPO, the Company terminated the 2007 Plan. In December 2017, the Company adopted the 2017 Employee, Director and Consultant Equity Incentive Plan (the 2017 Plan), under which it may grant incentive stock options, non‑qualified stock options, restricted stock, and other stock‑based awards. As of June 30, 2019, the 2017 Plan allowed for the issuance of up to 1,042,314 shares or options to purchase shares of common stock plus up to 2,490,290 shares of common stock represented by awards granted under the 2007 Plan that are forfeited, expire or are cancelled without delivery of shares or which result in the forfeiture of shares of common stock back to the Company on or after the date the 2017 Plan becomes effective. As of June 30, 2019, under the 2017 Plan, options to purchase 1,256,854 shares of common stock were outstanding. The 2017 Plan contains an “evergreen” provision, which allows for an annual increase in the number of shares of common stock available for issuance under the 2017 Plan on the first day of each fiscal year during the period beginning in fiscal year 2019 and ending in fiscal year 2027. The annual increase in the number of shares shall be equal to the lowest of: 4% of the number of shares of common stock outstanding as of such date; and an amount determined by the Company’s Board of Directors or Compensation Committee. The number of shares available for grant under the 2017 Plan increased by 894,761 on January 1, 2019 due to this provision. As of June 30, 2019, 304,488 shares were available for grant under the 2017 Plan. In December 2017, the Company adopted the 2017 Employee Stock Purchase Plan (the 2017 ESPP). The 2017 ESPP contains an “evergreen” provision, which allows for an increase on the first day of each fiscal year beginning with fiscal year 2018. The increase in the number of shares shall be equal to the lowest of: 1% of the number of shares of common stock outstanding on the last day of the immediately preceding fiscal year or an amount determined by the Company’s Board of Directors or Compensation Committee. The number of shares available for grant under the 2017 ESPP increased by 223,690 on January 1, 2019 due to this provision. As of June 30, 2019, the 2017 ESPP allowed for the issuance of up to 649,233 shares of common stock and 629,173 shares were available for grant under the 2017 ESPP. Stock options Under the 2007 Plan and the 2017 Plan, stock options may not be granted with exercise prices of less than fair market value on the date of the grant. Options generally vest ratably over a four‑year period with 25% vesting on the first anniversary and the remaining 75% vesting ratably on a monthly basis over the remaining three years. These options expire ten years after the grant date. Activity under the 2007 Plan and the 2017 Plan was as follows: Weighted-average Remaining contractual Aggregate intrinsic value Options exercise price life (in years) (in thousands) Outstanding at December 31, 2018 2,476,911 $ 9.65 7.73 22,108 Granted 643,732 $ 22.58 Exercised (261,872) $ 7.29 Cancelled (218,699) $ 11.44 Outstanding at June 30, 2019 2,640,072 $ 12.88 7.79 55,180 Vested and expected to vest at June 30, 2019 1,182,029 $ 7.25 6.35 31,373 Exercisable at June 30, 2019 2,640,072 $ 12.88 7.79 55,180 Using the Black-Scholes option pricing model, the weighted-average fair value of options granted to employees and directors during the six months ended June 30, 2019 and 2018 was $8.64 and $8.43 per share, respectively. The expense related to awards granted to employees were $0.9 million and $1.6 million for the three and six months ended June 30, 2019, respectively. The expense related to awards granted to employees were $0.6 million and $1.1 million for the three and six months ended June 30, 2018, respectively. The intrinsic value of stock options exercised was $2.9 million and $4.1 million for the three and six months ended June 30, 2019, respectively. The intrinsic value of stock options exercised was $1.5 million and $2.5 million for the three and six months ended June 30, 2018, respectively. Activity related to non-employee awards was not material to the three and six months ended June 30, 2019 and 2018. Restricted stock Restricted common stock awards represent shares of common stock issued to employees subject to forfeiture if the vesting conditions are not satisfied. In December 2014, the Company issued 78,912 shares of restricted common stock to a director of the Company under the 2007 Plan. Under the terms of the agreement, shares of common stock issued are subject to a four-year vesting schedule. Vesting occurs periodically at specified time intervals and specified percentages. In January 2015, the Company issued 781,060 shares of restricted common stock to an executive of the Company under the 2007 Plan. The majority of these shares were issued subject to a four-year vesting schedule with 25% vesting on the first anniversary and the remaining vesting 75% ratably on a monthly basis over the remaining three years, while another portion was issued subject to performance based vesting. The vesting of performance based awards is dependent upon achievement of specified financial targets of the Company. The majority of the performance criteria were achieved during the years ended December 31, 2016 and 2015 and the remaining unvested awards with performance conditions are not material. No restricted stock common stock awards were granted or vested during the six months ended June 30, 2019. Restricted stock units Restricted stock units (RSUs) represent the right to receive shares of common stock upon meeting specified vesting requirements. In the six months ended June 30, 2019, the Company issued 184,556 RSUs to employees of the Company under the 2017 Plan. Under the terms of the agreements, 104,965 of the RSUs issued are subject to a four-year vesting schedule with 25% vesting on the first anniversary of the grant date and the remaining vesting 75% ratably on a monthly basis over the remaining three years; 34,149 of the RSUs vest on December 31, 2019; 8,900 of the RSUs vested in equal amounts annually over four years; 31,732 of the RSUs vested equally over four years; and 4,810 vested immediately upon grant. A summary of RSU activity is as follows: Weighted-average grant date fair value Shares per share Unvested RSUs as of December 31, 2018 321,662 $ 15.84 Granted 184,556 $ 23.09 Vested (55,088) $ 16.61 Cancelled (14,145) $ 18.94 Unvested RSUs as of June 30, 2019 436,985 $ 18.69 The expense related to awards granted to employees and directors was $0.7 million and $1.2 million for the three and six months ended June 30, 2019, respectively, and $0.1 million and $0.3 million for the three and six months ended June 30, 2018, respectively. At June 30, 2019, there was $7.6 million of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over the remaining weighted‑average vesting period of 2.88 years.

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and contingencies
Commitments and contingencies	10. Commitments and contingencies Tufts University In June 2007, the Company entered into a license agreement (the License Agreement) for certain intellectual property with Tufts University (Tufts). Tufts is a related party to the Company due to Tufts’ equity ownership in the Company and because a board member of the Company’s Board of Directors was affiliated with Tufts. The License Agreement, which was subsequently amended, is exclusive and sub licensable, and will continue in effect on a country by country basis as long as there is a valid claim of a licensed patent in a country. The Company is committed to pay license and maintenance fees, prior to commercialization, in addition to low single digit royalties on direct sales and services and a royalty on sublicense income. During the three months ended June 30, 2019 and 2018, and six months ended June 30, 2019 and 2018, the Company recorded royalty expense of $0.2 million, $0.2 million, $0.4 million and $0.3 million, respectively, in cost of product revenue on the consolidated statements of operations and comprehensive loss. License commitment During the year ended December 31, 2012, the Company entered into a license agreement for certain intellectual property with a third party. The non‑exclusive, non‑sublicensable third party’s license provides the Company access to certain patents specifically for protein detection, and shall be in effect until the expiration of the last licensed patent. In consideration for these rights, the Company committed to certain license fees, milestone payments, minimum annual royalties and a mid‑single digit royalty. The Company is required to make mid‑single digit royalty payments on net sales of products and services which utilize the licensed technology. The Company must pay the greater of calculated royalties on net sales or an annual minimum royalty of $50,000. During each of the three months ended June 30, 2019 and 2018, and six months ended June 30, 2019 and 2018, the Company recorded royalty expense of less than $0.1 million in cost of product revenue on the consolidated statements of operations. Lease commitments During the year ended December 31, 2014, the Company entered into a lease agreement for the Company's corporate headquarters in Lexington, Massachusetts with a lease term that was to expire in June 2020; however, in November 2018, the Company agreed to terminate the lease with the lessor effective May 31, 2019. The lease was terminated in connection with the Company signing a new lease in Billerica, Massachusetts. On October 2, 2018, the Company entered into a 137-month operating lease for the Company's new headquarters in Billerica, Massachusetts. The lease contains a period of free rent and escalating monthly rent payments. As part of the lease, the Company was required to enter into a $1.0 million Letter of Credit drawable by the lessor under specifically outlined conditions. The amount of the Letter of Credit will be reduced at 41 and 65 months after the commencement date of the lease to $750,000 and then $250,000, respectively. The $1.0 million Letter of Credit is recorded as restricted cash on the balance sheet. In connection with the acquisition of Aushon in January 2018, the Company assumed the existing Aushon lease for facilities in Billerica, Massachusetts. In August 2018, the Company terminated the Aushon lease effective September 1, 2019. The Company was required to pay a termination fee no later than July 1, 2019 in consideration for the early termination, which was paid in February 2019. Rent expense is recognized straight‑line over the course of the lease term. As of June 30, 2019, $1.9 million of deferred rent expense was recorded in other non‑current liabilities, and less than $0.1 million was recorded in other accrued expenses. The table below includes committed lease expenditures related to the Company’s leases. As of June 30, 2019, the minimum future rent payments under the lease agreements are as follows (in thousands): 2019 $ 565 2020 2,013 2021 3,290 2022 3,372 2023 and Forward 29,207 $ 38,447 The Company recorded $0.9 million, $0.4 million, $1.9 million and $0.7 million in rent expense for the three months ended June 30, 2019 and 2018, and the six months ended June 30, 2019 and 2018, respectively. Development and supply agreement Through the Company’s development agreement with STRATEC Biomedical, as amended in December 2016, the parties agreed on additional development services for an additional fee, which is payable when the additional development is completed. A total of $11.7 million is payable to STRATEC upon completion of the development activities. This amount is being recorded to research and development expense and accrued expenses as the services are performed. The services were completed during the year ended December 31, 2018. Substantive efforts related to these additional development activities started in the first quarter of 2019 and are expected to continue through the second quarter of 2019. The Company’s supply agreement with STRATEC Biomedical requires the Company to purchase a minimum number of commercial units over a seven‑year period ending in May 2021. If the Company were to fail to purchase a required number of commercial units, the Company would be obligated to pay termination costs plus a fee based on the shortfall of commercial units purchased compared to the required minimum amount. Based on the number of commercial instruments purchased as of June 30, 2019, assuming no additional commercial units were purchased, this fee would equal $10.7 million. The amount the Company could be obligated to pay under the minimum purchase commitment is reduced as each commercial unit is purchased. Also, if the Company terminates the supply agreement under certain circumstances and has not purchased a required number of commercial units, it would be obligated to issue warrants to purchase 93,341 shares of common stock (the Supply Warrants) at $0.003214 per share. The Company believes that it will purchase sufficient units to meet the requirements of the minimum purchase commitment and, therefore, has not accrued for any of the potential cash consideration. The Supply Warrants are accounted for at fair value; however, the fair value of the Supply Warrants as of June 30, 2019 and December 31, 2018 was insignificant as there was a low probability of the warrants being issued. Legal contingencies The Company is subject to claims in the ordinary course of business; however, the Company is not currently a party to any pending or threatened litigation, the outcome of which would be expected to have a material adverse effect on its financial condition or the results of its operations. The Company accrues for contingent liabilities to the extent that the liability is probable and estimable.

Notes payable

Notes payable	6 Months Ended
	Jun. 30, 2019
Notes payable
Notes payable	11. Notes payable Loan agreement On April 14, 2014, the Company executed a Loan Agreement with a lender, as subsequently amended multiple times, most recently in April 2019. As of June 30, 2019, there were no additional amounts available to borrow under the debt facility. The interest rate on this term loan is variable based on a calculation of the prime rate less 5.25% with a minimum interest rate of 8.25%. Interest is paid monthly beginning the month following the borrowing date. At loan inception and in connection with the amendments, the Company issued the lender warrants to purchase shares of stock. The Loan Agreement also contains prepayment penalties and an end of term charge. Fees incurred upon execution of the agreements, and the fair value of warrants on the date of grant were accounted for as a reduction in the book value of debt and accreted through interest expense, using the effective interest rate method, over the term of the debt. No end of term charges or principal payments were paid during the six months ended June 30, 2019. On April 15, 2019, the Company signed Amendment 7 to the Loan Agreement, which extends the interest only payment period through July 1, 2021 and also extends the maturity date until October 1, 2021. As part of this Amendment 7 a “2019 End of Term Fee” for $50,000 was added to the Loan Agreement due on the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that the Company prepays the outstanding Secured Obligations and (iii) the date that the Secured Obligations become due and payable. In addition, the Company is required to pay the loan principal in five equal installments starting July 1, 2021 with the final principal payment to be made on October 1, 2021. As of June 30, 2019, the remaining loan balance is classified as a long term liability since all principal payments are due greater than twelve months after the balance sheet date. As of June 30, 2019, debt payment obligations due based on principal payments are as follows (in thousands): 2019 $ — 2020 — 2021 7,688 $ 7,688 Non‑cash interest expense related to debt discount amortization and accretion of end of term fees was less than $0.0 million, $0.1 million, $0.0 million and $0.1 million for the three months ended June 30, 2019 and 2018, and six months ended June 30, 2019 and 2018, respectively.

Collaboration and license arran

Collaboration and license arrangements	6 Months Ended
	Jun. 30, 2019
Collaboration and license arrangements
Collaboration and license arrangements	12. Collaboration and license arrangements Joint development and license agreement The JDLA with bioMérieux, a related party, was amended in 2016 (the Amended JDLA). Following the amendment, a total of $3.2 million of consideration was assigned to the deliverables and collaboration activities outlined in the Amended JDLA. The consideration of $3.2 million will be recognized over the performance period which began in the fourth quarter 2016. On September 6, 2018, bioMérieux notified the Company that it was terminating the Amended JDLA, forfeiting any future IVD licensing rights to the Company’s Simoa technology and enabling the Company to consolidate and regain control of all Simoa IVD licensing and IP rights. As a result of the termination, the Company immediately recognized $1.6 million in deferred revenue related to the agreement. Evaluation and option agreements and license agreement In 2015, the Company entered into three agreements, for three separate fields, with a diagnostic company for the evaluation of the Company’s Simoa technology. These agreements each allowed for the option to negotiate a license agreement. In return, the Company received non‑refundable payments totaling $2.0 million. In December 2016, the diagnostic company exercised one of its options and the parties entered into a non-exclusive license agreement in one of the fields. This agreement has a one‑time non‑refundable license fee of $1.0 million and the right to receive running low single digit royalties on licensed products. The negotiation periods for the other two agreements were extended and the negotiations remain ongoing. Upon execution of the license in one of the fields in December 2016, the $1.0 million license fee, in addition to the $0.8 million allocated to the option for this field, resulted in a total of $1.8 million of consideration being recognized as revenue as there were no remaining undelivered performance obligations. In December 2018, the Company entered into an option agreement for the rights to negotiate an exclusive license in this field with the diagnostic company. In exchange for the rights to negotiate an exclusive agreement, the Company will receive $0.5 million in consideration. As the right to negotiate with the Company has not been executed, the consideration from this agreement is deferred until the sooner of the execution of the contract or the end of the option period. Because the negotiations remain ongoing with respect to the other two fields and the options have not been exercised, the consideration allocated to these options of $1.7 million has been deferred and is recorded as deferred revenue as of June 30, 2019 and December 31, 2018.

Employee benefit plans

Employee benefit plans	6 Months Ended
	Jun. 30, 2019
Employee benefit plans
Employee benefit plans	13. Employee benefit plans The Company sponsors a 401(k) savings plan for its employees The Company may make discretionary contributions for each 401(k) plan year. During the three and six months ended June 30, 2019, the Company made contributions of $0.1 million and $0.3 million, respectively. During the six months ended June 30, 2018, the Company did not make any contribution.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill and Acquired Intangible Assets
Goodwill and Acquired Intangible Assets	14. Goodwill and Acquired Intangible Assets As of June 30, 2019, the carrying amount of goodwill was $1.3 million. The following is a rollforward of the Company’s goodwill balance (in thousands): Goodwill Balance as of December 31, 2018 $ 1,308 Goodwill acquired — Balance as of June 30, 2019 $ 1,308 Purchased intangible assets consist of the following (in thousands): June 30, 2019 Gross Net Estimated Useful Carrying Accumulated Carrying Life (in years) Value Amortization Value Developed technology 7 $ 1,650 $ (560) $ 1,090 Customer relationships 10 1,250 (313) 938 Trade names 3 50 (24) 26 Total $ 2,950 $ (896) $ 2,054 The Company recorded amortization expense of $0.1 million and $0.3 million for the three and six months ended June 30, 2019, respectively, and $0.2 million and $0.3 million for the three and six months ended June 30, 2018, respectively. Amortization relating to developed technology is recorded within research and development expense, amortization of customer relationships is recorded within sales and marketing expenses, and amortization of trade names is recorded within general and administrative expenses. Future estimated amortization expense of acquired intangibles as of June 30, 2019 is as follows (in thousands): For the Years Ended December 31, Estimated Amortization Expense 2019 $ 287 2020 500 2021 403 2022 320 2023 238 Thereafter 306 $

At-the-market offering

At-the-market offering	6 Months Ended
	Jun. 30, 2019
At-the-market offering
At-the-market offering	15. At-the-market offering On March 19, 2019, the Company entered into the Sales Agreement with Cowen with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $50.0 million through Cowen as its sales agent. On June 5, 2019, the Company issued approximately 2.2 million shares of common stock at an average stock price of $22.73 per share pursuant to the terms of the Sales Agreement. The at-the-market offering resulted in gross proceeds of $49.7 million. The Company incurred $1.7 million in issuance costs associated with the at-the-market offering, resulting in net proceeds to the Company of $48.0 million.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2019
Related party transactions
Related party transactions	16. Related party transactions bioMérieux is a customer and also a holder of the Company’s common stock. bioMérieux formerly also had a designee on the Company’s Board of Directors. On September 6, 2018, bioMérieux notified the Company that it was terminating the Amended JDLA. The termination of the agreement resulted in the immediate recognition of the remaining deferred revenue. The Company recognized revenue from bioMérieux related to the Amended JDLA of less than $0.1 million, $0.3 million, less than $0.1 million and $0.5 million in the three months ended June 30, 2019 and 2018 and the six months ended June 30, 2019 and 2018, respectively. The Company entered into the License Agreement for certain intellectual property with Tufts. Tufts is a related party to the Company due to Tufts’ equity ownership in the Company and because a member of the Company’s Board of Directors was affiliated with Tufts. During the three months ended June 30, 2019 and 2018 and the six months ended June 30, 2019 and 2018, the Company recorded royalty expense of $0.2 million, $0.2 million, $0.4 million and $0.3 million, respectively, in cost of product revenue on the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2017, Harvard University became a related party because a member of the Company’s Board of Directors is affiliated with Harvard University. Revenue recorded from sales to Harvard University were $0.1 million and $0.1 million for the three and six months ended June 30, 2019, respectively.

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2019
Subsequent events
Subsequent events	17. Subsequent events On August 1, 2019, the Company completed its acquisition of UmanDiagnostics AB, a Swedish company located in Umea, Sweden (Uman), for an aggregate contractual purchase price of $22.5 million, comprised of (i) $16.0 million in cash plus (ii) 191,154 shares of common stock (representing $6.5 million based on the average closing price of the Company’s common stock on the Nasdaq Global Market for the ten (10) trading days prior to June 26, 2019). The acquisition closed with respect to 95% of the outstanding shares of capital stock of Uman on July 1, 2019 and with respect to the remaining 5% of the outstanding shares of capital stock of Uman on August 1, 2019. Uman supplies neurofiliment light (Nf-L) antibodies and ELISA kits, which are widely recognized by researchers and biopharmaceutical and diagnostics companies world-wide as the premier solution for the detection of Nf-L to advance the development of therapeutics and diagnostics for neurodegenerative conditions. With the acquisition of Uman, the Company has secured a long-term source of supply for a critical technology. The Company will account for the acquisition of Uman as a purchase of a business under U.S. GAAP. Under the acquisition method of accounting, the assets of Uman will be recorded as of the acquisition date, at their respective fair values, and consolidated with those of the Company. As of August 6, 2019, the preliminary purchase price allocation related to the acquisition of Uman is incomplete. The Company has retained an independent valuation firm to assess the fair value of the identified intangible assets and certain tangible assets acquired and liabilities assumed and plans to file pro forma financial information with the SEC within the applicable time period. During the three and six months ended June 30, 2019, the Company incurred approximately $0.9 million in costs associated with the acquisition of Uman, which are recorded as selling, general, and administrative expenses within the consolidated statements of operations.

Significant accounting polici_2

Significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2019
Significant accounting policies
Principles of consolidation	Principles of consolidation The condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Quanterix Corporation and its wholly‑owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. In making those estimates and assumptions, the Company bases its estimates on historical experience and on various other assumptions believed to be reasonable. The Company’s significant estimates included in the preparation of the consolidated financial statements are related to revenue recognition, fair value of equity instruments and notes receivable, fair value of assets acquired and liabilities assumed in acquisitions, valuation allowances recorded against deferred tax assets, and stock‑based compensation. Actual results could differ from those estimates.
Business combinations	Business combinations Under the acquisition method of accounting, the Company allocates the fair value of the total consideration transferred to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values on the date of acquisition. The fair values assigned, defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants, are based on estimates and assumptions determined by management. The excess consideration over the aggregate fair value of tangible and intangible assets, net of liabilities assumed, is recorded as goodwill. These valuations require significant estimates and assumptions, especially with respect to intangible assets. The Company typically uses the discounted cash flow method to value acquired intangible assets. This method requires significant management judgment to forecast future operating results and establish residual growth rates and discount factors. The estimates used to value and amortize intangible assets are consistent with the plans and estimates that are used to manage the business and are based on available historical information and industry estimates and averages. If the subsequent actual results and updated projections of the underlying business activity change compared with the assumptions and projections used to develop these values, the Company could experience impairment charges. In addition, the Company has estimated the economic lives of certain acquired assets and these lives are used to calculate depreciation and amortization expense. If estimates of the economic lives change, depreciation or amortization expenses could be accelerated or slowed.
Restricted Cash	Restricted cash Restricted cash primarily represents collateral for a letter of credit issued as security for the lease for the Company’s new headquarters. The restricted cash is long term in nature as the Company will not have access to the funds until more than one year from June 30, 2019.
Recent accounting pronouncements	Recent accounting pronouncements The Company is considered to be an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (JOBS Act). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to avail itself of this extended transition period and, as a result, the Company will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies so long as the Company remains an emerging growth company. On January 1, 2019, the Company adopted Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606), using the modified retrospective method. Under ASC 606, revenue is recognized upon the transfer of control of goods or services to customers and reflects the amount of consideration to which an entity expects to be entitled in exchange for those goods or services. The adoption of ASC 606 has been applied to customer contracts that were not completed as of January 1, 2019, and did not materially change the pattern of revenue recognition for its current customer contracts. The Company's consolidated financial statements for the prior-year period have not been revised and are reflective of the revenue recognition requirements which were in effect for that period. The Company recorded an adjustment to the accumulated deficit of $0.4 million as of January 1, 2019 for the cumulative effect primarily related to the deferral of sales commissions. In accordance with the reporting requirements of ASC 606, the disclosure of the impact on the Company's consolidated balance sheet and statement of operations, as a result of adopting the provisions of ASC 606, was as follows (in thousands): Prior to adoption of As Adjusted under As reported ASC 606 reported ASC 606 June 30, June 30, December 31, 2018 Adjustments January 1, 2019 2019 Adjustments 2019 Assets: Accounts receivable $ 6,792 $ 47 $ 6,839 $ 9,134 $ — $ 9,134 Prepaid expenses and other current assets 2,330 288 2,618 2,377 35 2,342 Other non-current assets 536 19 555 552 — 552 Liabilities: Deferred revenue 5,437 43 5,394 5,186 234 5,420 Deferred revenue, net of current portion 520 43 477 374 33 407 Stockholders’ equity: Accumulated deficit $ (175,888) $ (440) $ (175,448) $ (195,416) $ (302) $ (195,718) For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 Under ASC Under ASC Under ASC 606 Adjustment 605 Under ASC 606 Adjustment 605 Product revenue $ 8,776 $ (16) $ 8,760 $ 18,322 $ (49) $ 18,273 Service revenue 4,760 26 4,786 7,550 131 7,681 COGS 6,605 2 6,607 12,936 3 12,939 Gross profit 6,931 8 6,939 12,936 79 13,015 Selling general and administrative expenses 13,429 35 13,464 24,941 59 25,000 Net loss $ (10,563) $ (27) $ (10,590) $ (19,968) $ 20 $ (19,948) The adoption of ASC 606 is discussed in further detail in Note 3. The Company adopted accounting standards update (ASU) 2016-01, which requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. For equity investments without readily determinable fair values that do not qualify for the practical expedient to estimate fair value using the net asset value per share or its equivalent, the Company has elected to measure these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. This election is made for each investment separately and is reassessed at each reporting period as to whether the investment continues to qualify for this election. Additionally, at each reporting period, the Company makes a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. The adoption of this standard did not have a material effect. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-02) , which establishes principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease . Under ASU 2016-02, lessees will be required to recognize a lease liability and a right-of-use asset for all leases (with the exception of short term leases) at the commencement date. ASU 2016-02 is effective for the Company for the year ending December 31, 2020. Early adoption is permitted. In 2018, the FASB modified ASU 2016-02 by issuing ASU 2018-01 and ASU 2018-11, which collectively added two practical expedients, provided a second modified retrospective transition method which does not require retrospective adjustment of prior periods, and provided certain narrow scope improvements to ASU 2016-02. The Company is currently evaluating the expected impact of ASU 2016-2 on its financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables and available-for-sale debt securities. The standard is effective for the Company beginning in the first quarter of 2020, with early adoption permitted. The Company is currently evaluating the expected impact of ASU 2016-13 on its financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment . This ASU eliminates Step 2 from the goodwill impairment test. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect adoption of this ASU to be material to its financial statements. There have been no other material changes to the significant accounting policies and recent accounting pronouncements previously disclosed in the 2018 Annual Report on Form 10‑K.

Significant accounting polici_3

Significant accounting policies (Tables)	6 Months Ended
	Jun. 30, 2019
ASU 2014-09
Revenue recognition
Schedule of impact on consolidated balance sheet and statement of operations due to adoption of ASU 606	In accordance with the reporting requirements of ASC 606, the disclosure of the impact on the Company's consolidated balance sheet and statement of operations, as a result of adopting the provisions of ASC 606, was as follows (in thousands): Prior to adoption of As Adjusted under As reported ASC 606 reported ASC 606 June 30, June 30, December 31, 2018 Adjustments January 1, 2019 2019 Adjustments 2019 Assets: Accounts receivable $ 6,792 $ 47 $ 6,839 $ 9,134 $ — $ 9,134 Prepaid expenses and other current assets 2,330 288 2,618 2,377 35 2,342 Other non-current assets 536 19 555 552 — 552 Liabilities: Deferred revenue 5,437 43 5,394 5,186 234 5,420 Deferred revenue, net of current portion 520 43 477 374 33 407 Stockholders’ equity: Accumulated deficit $ (175,888) $ (440) $ (175,448) $ (195,416) $ (302) $ (195,718) For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 Under ASC Under ASC Under ASC 606 Adjustment 605 Under ASC 606 Adjustment 605 Product revenue $ 8,776 $ (16) $ 8,760 $ 18,322 $ (49) $ 18,273 Service revenue 4,760 26 4,786 7,550 131 7,681 COGS 6,605 2 6,607 12,936 3 12,939 Gross profit 6,931 8 6,939 12,936 79 13,015 Selling general and administrative expenses 13,429 35 13,464 24,941 59 25,000 Net loss $ (10,563) $ (27) $ (10,590) $ (19,968) $ 20 $ (19,948) The adoption of ASC 606 is discussed in further detail in Note 3.

Revenue recognition (Tables)

Revenue recognition (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue recognition
Schedule of disaggregated revenue	Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 (in thousands) NA EMEA Asia Pacific Total NA EMEA Asia Pacific Total Product revenues Instruments $ 1,159 $ 893 $ 651 $ 2,703 $ 2,556 $ 2,038 $ 1,525 $ 6,119 Consumable and other products 3,655 2,095 323 6,073 7,274 4,183 747 12,204 Totals $ 4,814 $ 2,988 $ 974 $ 8,776 $ 9,830 $ 6,221 $ 2,271 $ 18,322 Service and other revenues Service-type warranties $ 814 $ 300 $ 28 $ 1,142 $ 1,503 $ 534 $ 65 $ 2,102 Research services 2,771 223 213 3,207 4,275 223 213 4,711 Other services 200 209 2 411 401 317 19 737 Totals $ 3,785 $ 732 $ 243 $ 4,760 $ 6,179 $ 1,074 $ 297 $ 7,550
Schedule of changes in deferred revenue from contracts with customers were as follows	Changes in deferred revenue from contracts with customers were as follows (in thousands): Six Months Ended June 30, 2019 Balance at December 31, 2018 $ 5,957 606 adoption adjustment (86) Deferral of revenue 1,791 Recognition of deferred revenue (2,102) Balance at June 30, 2019 $ 5,560
Schedule of costs to obtain a contract	The change in the balance of costs to obtain a contract are as follows (in thousands): Six Months Ended June 30, 2019 Balance at December 31, 2018 $ — 606 adoption adjustment 307 Deferral of costs to obtain a contract 450 Recognition of costs to obtain a contract (392) Balance at June 30, 2019 $ 365

Net loss per share (Tables)

Net loss per share (Tables)	6 Months Ended
	Jun. 30, 2019
Net loss per share
Schedule of outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share	June 30, 2019 2018 Unvested restricted common stock and restricted stock units 436,985 Outstanding stock options 2,640,072 2,543,478 Outstanding warrants 76,041 76,041 Total 3,153,098 2,770,362

Fair value of financial instr_2

Fair value of financial instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Fair value of financial instruments
Schedule of fair value measurements	Fair value measurements as of June 30, 2019 are as follows (in thousands): Quoted prices Significant in active Significant other unobservable markets observable inputs Description Total (Level 1) inputs (Level 2) (Level 3) Financial assets Cash equivalents $ 43,266 $ 43,266 $ — $ — Note receivable 150 — — 150 $ 43,416 $ 43,266 $ — $ 150 Fair value measurements as of December 31, 2018 are as follows (in thousands): Quoted prices Significant in active Significant other unobservable markets observable inputs Description Total (Level 1) inputs (Level 2) (Level 3) Financial assets Cash equivalents $ 42,608 $ 42,608 — $ — Note receivable 150 — — 150 $ 42,758 $ 42,608 — $ 150

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory
Summary of inventory	Inventory consists of the following (in thousands): June 30, 2019 December 31, 2018 Raw materials $ 3,717 $ 1,546 Work in process 2,334 2,331 Finished goods 2,799 2,068 Total $ 8,850 $ 5,945

Other accrued expenses (Tables)

Other accrued expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Other accrued expenses
Summary of other accrued expenses	Other accrued expenses consist of the following (in thousands): June 30, 2019 December 31, 2018 Accrued inventory $ 1,320 $ 599 Accrued royalties 472 323 Accrued professional services 884 723 Accrued development costs 733 795 Accrued other 610 689 Total accrued expenses $ 4,019 $ 3,129

Warrants, stock-based compens_2

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units (Tables)	6 Months Ended
	Jun. 30, 2019
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Summary of share-based compensation expense for all stock awards	Stock‑based compensation expense for all stock awards consists of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Cost of product revenue $ 27 $ 19 $ 44 $ 29 Cost of service and other revenue 57 51 117 83 Research and development 180 138 348 209 General and administrative 1,337 682 2,376 1,205 Total $ 1,601 $ 890 $ 2,885 $ 1,526
Summary of stock option activity	Weighted-average Remaining contractual Aggregate intrinsic value Options exercise price life (in years) (in thousands) Outstanding at December 31, 2018 2,476,911 $ 9.65 7.73 22,108 Granted 643,732 $ 22.58 Exercised (261,872) $ 7.29 Cancelled (218,699) $ 11.44 Outstanding at June 30, 2019 2,640,072 $ 12.88 7.79 55,180 Vested and expected to vest at June 30, 2019 1,182,029 $ 7.25 6.35 31,373 Exercisable at June 30, 2019 2,640,072 $ 12.88 7.79 55,180
Summary of restricted stock units activity	Weighted-average grant date fair value Shares per share Unvested RSUs as of December 31, 2018 321,662 $ 15.84 Granted 184,556 $ 23.09 Vested (55,088) $ 16.61 Cancelled (14,145) $ 18.94 Unvested RSUs as of June 30, 2019 436,985 $ 18.69

Commitments and contingencies (

Commitments and contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and contingencies
Schedule of minimum future rent payments under the lease agreement	As of June 30, 2019, the minimum future rent payments under the lease agreements are as follows (in thousands): 2019 $ 565 2020 2,013 2021 3,290 2022 3,372 2023 and Forward 29,207 $ 38,447

Notes payable (Tables)

Notes payable (Tables)	6 Months Ended
	Jun. 30, 2019
Notes payable
Schedule of debt payment obligations due based on principal payments	As of June 30, 2019, debt payment obligations due based on principal payments are as follows (in thousands): 2019 $ — 2020 — 2021 7,688 $ 7,688

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill and Acquired Intangible Assets
Rollforward of goodwill balance	The following is a rollforward of the Company’s goodwill balance (in thousands): Goodwill Balance as of December 31, 2018 $ 1,308 Goodwill acquired — Balance as of June 30, 2019 $ 1,308
Summary of intangible assets	Purchased intangible assets consist of the following (in thousands): June 30, 2019 Gross Net Estimated Useful Carrying Accumulated Carrying Life (in years) Value Amortization Value Developed technology 7 $ 1,650 $ (560) $ 1,090 Customer relationships 10 1,250 (313) 938 Trade names 3 50 (24) 26 Total $ 2,950 $ (896) $ 2,054
Schedule of future estimated amortization expense of acquired intangibles	Future estimated amortization expense of acquired intangibles as of June 30, 2019 is as follows (in thousands): For the Years Ended December 31, Estimated Amortization Expense 2019 $ 287 2020 500 2021 403 2022 320 2023 238 Thereafter 306 $

Organization and operations (De

Organization and operations (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 05, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 19, 2019	Dec. 31, 2018
Initial Public Offering
Cash and cash equivalents		$ 72,025	$ 72,025	$ 60,474		$ 44,429
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001			$ 0.001
Common Stock, Value, Issued		$ 25	$ 25			$ 22
Net proceeds from issuance of common shares				$ (53)
Common stock
Initial Public Offering
Sale of common stock in at-the-market offering, shares		2,186,163	2,186,163
At Market Offering [Member]
Initial Public Offering
Common stock, par value (in dollars per share)					$ 0.001
Sale of common stock in at-the-market offering, shares	2,200,000
Shares issued (in dollars per share)	$ 22.73
Gross Proceeds From Issuance Of Common Stock	$ 49,700
Net proceeds from issuance of common shares			$ 48,019
Stock issuance costs	$ 1,700
At Market Offering [Member] | Maximum
Initial Public Offering
Common Stock, Value, Issued					$ 50,000

Significant accounting polici_4

Significant accounting policies - Recent accounting pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2016
Assets:
Accounts receivable	$ 9,134		$ 9,134		$ 6,839	$ 6,792
Prepaid expenses and other current assets	2,377		2,377		2,618	2,330
Other assets	552		552		555	536
Liabilities:
Deferred revenue	5,186		5,186		5,394	5,437
Deferred revenue, net of current portion	374		374		477	520
Stockholders’ equity:
Accumulated deficit	(195,416)		(195,416)		(175,448)	(175,888)
Revenue	13,536	$ 8,643	25,872	$ 16,164
Total costs of goods sold and services	6,605	4,670	12,936	9,019
Gross profit	6,931	3,973	12,936	7,145
Selling, general and administrative expense	13,429	7,579	24,941	14,271
Net loss	(10,563)	(7,343)	(19,968)	(14,545)
Restricted cash	1,026		1,026			$ 1,000
Minority interest in preferred stock in privately held company
Stockholders’ equity:
Purchase price of investment								$ 300
Investment in a convertible notes of a privately held company
Stockholders’ equity:
Investment principle amount							$ 200
Product revenue
Stockholders’ equity:
Revenue	8,776	5,200	18,322	9,945
Total costs of goods sold and services	4,455	2,945	8,704	5,718
Service and other revenue
Stockholders’ equity:
Revenue	4,760	3,174	7,550	5,682
Total costs of goods sold and services	2,150	$ 1,725	4,232	$ 3,301
Adjustments
Assets:
Accounts receivable					47
Prepaid expenses and other current assets	35		35		288
Other assets					19
Liabilities:
Deferred revenue	234		234		43
Deferred revenue, net of current portion	33		33		43
Stockholders’ equity:
Accumulated deficit	(302)		(302)		$ (440)
Gross profit	8		79
Selling, general and administrative expense	35		59
Net loss	(27)		20
Adjustments | Product revenue
Stockholders’ equity:
Revenue	(16)		(49)
Adjustments | Service and other revenue
Stockholders’ equity:
Revenue	26		131
Total costs of goods sold and services	2		3
Balances without adoption of ASU 606
Assets:
Accounts receivable	9,134		9,134
Prepaid expenses and other current assets	2,342		2,342
Other assets	552		552
Liabilities:
Deferred revenue	5,420		5,420
Deferred revenue, net of current portion	407		407
Stockholders’ equity:
Accumulated deficit	(195,718)		(195,718)
Gross profit	6,939		13,015
Selling, general and administrative expense	13,464		25,000
Net loss	(10,590)		(19,948)
Balances without adoption of ASU 606 | Product revenue
Stockholders’ equity:
Revenue	8,760		18,273
Balances without adoption of ASU 606 | Service and other revenue
Stockholders’ equity:
Revenue	4,786		7,681
Total costs of goods sold and services	$ 6,607		$ 12,939

Revenue recognition (Details)

Revenue recognition (Details)	6 Months Ended
	Jun. 30, 2019customer
Revenue recognition
Minimum number of customers	200
Minimum
Revenue recognition
Period of payment	30 days
Maximum
Revenue recognition
Period of payment	45 days

Revenue recognition - Disaggreg

Revenue recognition - Disaggregated revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue recognition
Total revenue	$ 13,536	$ 8,643	$ 25,872	$ 16,164
Product revenue
Revenue recognition
Total revenue	8,776	5,200	18,322	9,945
Product revenue | NA
Revenue recognition
Total revenue	4,814		9,830
Product revenue | EMEA
Revenue recognition
Total revenue	2,988		6,221
Product revenue | Asia Pacific
Revenue recognition
Total revenue	974		2,271
Instruments
Revenue recognition
Total revenue	2,703		6,119
Instruments | NA
Revenue recognition
Total revenue	1,159		2,556
Instruments | EMEA
Revenue recognition
Total revenue	893		2,038
Instruments | Asia Pacific
Revenue recognition
Total revenue	651		1,525
Consumable and other product
Revenue recognition
Total revenue	6,073		12,204
Consumable and other product | NA
Revenue recognition
Total revenue	3,655		7,274
Consumable and other product | EMEA
Revenue recognition
Total revenue	2,095		4,183
Consumable and other product | Asia Pacific
Revenue recognition
Total revenue	323		747
Service and other revenue
Revenue recognition
Total revenue	4,760	3,174	7,550	5,682
Service and other revenue | NA
Revenue recognition
Total revenue	3,785		6,179
Service and other revenue | EMEA
Revenue recognition
Total revenue	732		1,074
Service and other revenue | Asia Pacific
Revenue recognition
Total revenue	243		297
Service-type warranties
Revenue recognition
Total revenue	1,142		2,102
Service-type warranties | NA
Revenue recognition
Total revenue	814		1,503
Service-type warranties | EMEA
Revenue recognition
Total revenue	300		534
Service-type warranties | Asia Pacific
Revenue recognition
Total revenue	28		65
Research services
Revenue recognition
Total revenue	3,207		4,711
Research services | NA
Revenue recognition
Total revenue	2,771		4,275
Research services | EMEA
Revenue recognition
Total revenue	223		223
Research services | Asia Pacific
Revenue recognition
Total revenue	213		213
Other services
Revenue recognition
Total revenue	411		737
Other services | NA
Revenue recognition
Total revenue	200		401
Other services | EMEA
Revenue recognition
Total revenue	209		317
Other services | Asia Pacific
Revenue recognition
Total revenue	$ 2		$ 19
Collaboration and license revenue
Revenue recognition
Total revenue		$ 269		$ 537

Revenue recognition - Future pe

Revenue recognition - Future performance obligations (Details) $ in Millions	Jun. 30, 2019USD ($)
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 5.6
Service-type warranties and research services
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	3
Undelivered licenses of intellectual property
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	1.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 5.2
Revenue recognition period for remaining performance obligation	12 months

Revenue recognition - Changes i

Revenue recognition - Changes in deferred revenue from contracts with customers (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Changes in deferred revenue from contracts with customers
Balance at beginning of period	$ 5,957
606 adoption adjustment	(86)
Deferral of revenue	1,791
Recognition of deferred revenue	(2,102)
Balance at end of period	$ 5,560

Revenue recognition - Costs to

Revenue recognition - Costs to obtain a contract (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Change in the balance of costs to obtain a contract
606 adoption adjustment	$ 307
Deferral of costs to obtain a contract	450
Recognition of costs to obtain a contract	(392)
Balance at end of period	$ 365

Revenue recognition - Practical

Revenue recognition - Practical expedients (Details)	6 Months Ended
	Jun. 30, 2019
Revenue recognition
Revenue, Practical Expedient, Financing Component [true false]	true
Revenue, Remaining Performance Obligation, Optional Exemption, Performance Obligation [true false]	true

Net loss per share (Details)

Net loss per share (Details) - shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Net loss per share
Number of dilutive securities excluded in the calculation of diluted net loss per share	3,153,098	2,770,362
Common stock
Net loss per share
Obligation to issue warrants, in shares	93,341	93,341
Unvested restricted common stock and restricted stock units
Net loss per share
Number of dilutive securities excluded in the calculation of diluted net loss per share	436,985	150,843
Outstanding stock options
Net loss per share
Number of dilutive securities excluded in the calculation of diluted net loss per share	2,640,072	2,543,478
Warrants
Net loss per share
Number of dilutive securities excluded in the calculation of diluted net loss per share	76,041	76,041

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash equivalents	$ 43,266	$ 42,608
Note receivable	150	150
Total	43,416	42,758
Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash equivalents	43,266	42,608
Total	43,266	42,608
Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Note receivable	150	150
Total	$ 150	$ 150

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory
Raw Materials	$ 3,717	$ 1,546
Work in process	2,334	2,331
Finished goods	2,799	2,068
Total	$ 8,850	$ 5,945

Investments (Details)

Investments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2016
Minority interest in preferred stock in privately held company
Schedule of Cost-method Investments [Line Items]
Purchase price of investment			$ 0.3
Impairment on investments	$ 0
Investment in a convertible notes of a privately held company
Schedule of Cost-method Investments [Line Items]
Investment principle amount		$ 0.2

Other accrued expenses (Details

Other accrued expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other accrued expenses
Accrued inventory	$ 1,320	$ 599
Accrued royalties	472	323
Accrued professional services	884	723
Accrued development costs	733	795
Accrued other	610	689
Total accrued expenses	$ 4,019	$ 3,129

Warrants, stock-based compens_3

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units - Warrants (Details) - Warrants	6 Months Ended
	Jun. 30, 2019shares
Number outstanding
Issued (in shares)	0
Outstanding at the end of the period (in shares)	76,041

Warrants, stock-based compens_4

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units - Share-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Share-based compensation expense	$ 1,601	$ 890	$ 2,885	$ 1,526
Cost of product revenue
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Share-based compensation expense	27	19	44	29
Cost of service and other revenue
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Share-based compensation expense	57	51	117	83
Research and development
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Share-based compensation expense	180	138	348	209
General and administrative
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Share-based compensation expense	$ 1,337	$ 682	$ 2,376	$ 1,205

Warrants, stock-based compens_5

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units - Stock-based award plans (Details) - shares	Jan. 01, 2019	Jun. 30, 2019	Dec. 31, 2018
2007 Plan
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Common stock available for future awards (in shares)		0
2017 Plan
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Shares authorized under the plan (in shares)		1,042,314
Shares available for grant under the plan (in shares)		304,488
Annual increase in the shares available for grant under the plan (as a percent of shares of common stock outstanding)		4.00%
Increase in the shares available for grant under the plan (in shares)	894,761
2017 ESPP
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Shares authorized under the plan (in shares)		649,233
Shares available for grant under the plan (in shares)		629,173
Annual increase in the shares available for grant under the plan (as a percent of shares of common stock outstanding)		1.00%
Increase in the shares available for grant under the plan (in shares)	223,690
Outstanding stock options
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Options outstanding (in shares)		2,640,072	2,476,911
Outstanding stock options | 2007 Plan
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Options outstanding (in shares)		1,383,218
Outstanding stock options | 2017 Plan
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Options outstanding (in shares)		1,256,854
Shares authorized under the plan (in shares)		2,490,290

Warrants, stock-based compens_6

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units - Stock options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Aggregate intrinsic value
Share-based compensation expense	$ 1,601	$ 890	$ 2,885	$ 1,526
Outstanding stock options
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Options expiration period (in years)			10 years
Number outstanding
Outstanding at the beginning of the period (in shares)			2,476,911
Granted (in shares)			643,732
Exercised (in shares)			(261,872)
Cancelled or forfeited (in shares)			(218,699)
Outstanding at the end of the period (in shares)	2,640,072		2,640,072		2,476,911
Vested and expected to vest at the end of the period (in shares)	1,182,029		1,182,029
Exercisable at the end of the period (in shares)	2,640,072		2,640,072
Weighted-average exercise price
Outstanding at the beginning of the period (in dollars per share)			$ 9.65
Granted (in dollars per share)			22.58
Exercised (in dollars per share)			7.29
Cancelled or forfeited (in dollars per share)			11.44
Outstanding at the end of the period (in dollars per share)	$ 12.88		12.88		$ 9.65
Vested and expected to vest at the end of the period (in dollars per share)	7.25		7.25
Exercisable at the end of the period (in dollars per share)	$ 12.88		$ 12.88
Remaining contractual life
Outstanding (in years)			7 years 9 months 15 days		7 years 8 months 23 days
Vested and expected to vest at the end of the period (in years)			6 years 4 months 6 days
Exercisable at the end of the period (in years)			7 years 9 months 15 days
Aggregate intrinsic value
Outstanding	$ 55,180		$ 55,180		$ 22,108
Vested and expected to vest at the end of the period	31,373		31,373
Exercisable at the end of the period	55,180		$ 55,180
Weighted-average fair value of options granted			$ 8.64	$ 8.43
Share-based compensation expense	900	600	$ 1,600	$ 1,100
Intrinsic value of stock options exercised	$ 2,900	$ 1,500	$ 4,100	$ 2,500
Outstanding stock options | Subject to a four year vesting schedule with 25% vesting on the first anniversary and the remaining vesting ratably on a monthly basis over the remaining three years
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Vesting period (in years)			4 years
Vesting percentage 1 (as a percent)			25.00%
Outstanding stock options | Subject to vesting with 50% vesting on December 31, 2018 and December 31, 2019
Warrants, stock-based compensation, stock options, restricted stock and restricted stock units
Vesting period (in years)			3 years
Vesting percentage 1 (as a percent)			75.00%

Warrants, stock-based compens_7

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units - Restricted stock (Details) - Restricted stock - shares	1 Months Ended		6 Months Ended
	Jan. 31, 2015	Dec. 31, 2014	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			0
2007 Plan | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		78,912
Vesting period (in years)		4 years
2007 Plan | Executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	781,060
Vesting period (in years)	4 years
2007 Plan | Executive | Subject to a four year vesting schedule with 25% vesting on the first anniversary and the remaining vesting ratably on a monthly basis over the remaining three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage 1 (as a percent)	25.00%
2007 Plan | Executive | Subject to vesting with 50% vesting on December 31, 2018 and December 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Vesting percentage 1 (as a percent)	75.00%

Warrants, stock-based compens_8

Warrants, stock-based compensation, stock options, restricted stock and restricted stock units - Restricted stock units (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Weighted-average grant date fair value per share
Share-based compensation expense	$ 1,601	$ 890	$ 2,885	$ 1,526
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued (in shares)			184,556
Number of restricted stock units
Unvested restricted common stock at the beginning of the period (in shares)			321,662
Granted (in shares)			184,556
Vested (in shares)			(55,088)
Cancelled (in shares)			(14,145)
Unvested restricted common stock at the end of the period (in shares)	436,985		436,985
Weighted-average grant date fair value per share
Unvested restricted common stock at the beginning of the period (in dollars per share)			$ 15.84
Granted (in dollars per share)			23.09
Vested (in dollars per share)			16.61
Cancelled (in dollars per share)			18.94
Unvested restricted common stock at the end of the period (in dollars per share)	$ 18.69		$ 18.69
Share-based compensation expense	$ 700	$ 100	$ 1,200	$ 300
Total unrecognized compensation cost related to unvested stock awards	$ 7,600		$ 7,600
Period of recognition of unrecognized compensation cost			2 years 10 months 17 days
2017 Plan | Restricted stock units | Subject to a four year vesting schedule with 25% vesting on the first anniversary and the remaining vesting ratably on a monthly basis over the remaining three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued (in shares)			104,965
Vesting period 1			4 years
Vesting period 2			3 years
Vesting percentage 1 (as a percent)			25.00%
Vesting percentage 2 (as a percent)			75.00%
Number of restricted stock units
Granted (in shares)			104,965
2017 Plan | Restricted stock units | Vesting on December 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued (in shares)			34,149
Number of restricted stock units
Granted (in shares)			34,149
2017 Plan | Restricted stock units | vested in equal amounts annually over four years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued (in shares)			8,900
Number of restricted stock units
Granted (in shares)			8,900
2017 Plan | Restricted stock units | Vesting equally over four years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued (in shares)			31,732
Number of restricted stock units
Granted (in shares)			31,732
2017 Plan | Restricted stock units | vested immediately upon grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock issued (in shares)			4,810
Number of restricted stock units
Granted (in shares)			4,810

Commitments and contingencies -

Commitments and contingencies - License agreements and Lease commitments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Oct. 02, 2018
License agreements
Drawing capacity							$ 1,000,000
Letter of credit will be reduced at 41 months after the commencement date							750,000
Letter of credit will be reduced at 65 months after the commencement date							$ 250,000
Minimum future rent payments under the lease agreement
2019	$ 565,000			$ 565,000
2020	2,013,000			2,013,000
2021	3,290,000			3,290,000
2022	3,372,000			3,372,000
2022 and Forward	29,207,000			29,207,000
Total	38,447,000			38,447,000
Rent expense	900,000	$ 400,000		1,900,000		$ 700,000
Tufts
License agreements
Royalty expense	200,000	200,000		400,000		$ 300,000
Other licenses
License agreements
Annual minimum royalty to be paid under the license agreement	50,000			50,000
Other licenses | Maximum
License agreements
Royalty expense	100,000	$ 100,000	$ 100,000		$ 100,000
Company headquarters
License agreements
Term of operating lease							137 months
Other non-current liabilities
Lease commitments
Deferred rent expense	1,900,000			1,900,000
Other accrued expenses | Maximum
Lease commitments
Deferred rent expense	$ 100,000			$ 100,000

Commitments and contingencies_2

Commitments and contingencies - Development and supply agreement and Legal contingencies (Details) - STRATEC Biomedical - Development and supply agreement $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares
Commitments and contingencies
Amount payable to counterparty	$ 11.7
Period to purchase minimum number of commercial units	7 years
Fee payable on shortfall of commercial units purchase	$ 10.7
Issuance of supply warrants on termination of agreement, number (in shares) | shares	93,341
Issuance of supply warrants on termination of agreement, value per share (in dollars per share) | $ / shares	$ 0.003214

Notes payable (Details)

Notes payable (Details) - Loan agreement $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Long Term Debt
Additional amounts available to borrow	$ 0
Minimum
Long Term Debt
Interest rate (as a percent)	8.25%
Prime rate
Long Term Debt
Margin on variable interest rate (as a percent)	(5.25%)

Notes payable - Debt payment ob

Notes payable - Debt payment obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt payment obligations due based on principal payments
2021	$ 7,688		$ 7,688
Debt payment obligations	7,688		7,688
Non-cash interest expense	$ 0	$ 100	$ 0	$ 100

Collaboration and license arr_2

Collaboration and license arrangements (Details) $ in Thousands	Sep. 06, 2018USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2015USD ($)itemagreement
Collaboration and license arrangements
Revenue			$ 13,536	$ 8,643	$ 25,872	$ 16,164
Joint development and license agreement
Collaboration and license arrangements
Consideration on collaboration activities					3,200
Revenue	$ 1,600
Evaluation and option agreements and license agreement
Collaboration and license arrangements
Revenue		$ 1,800
Number of agreements | agreement								3
Number of fields for which the agreements were entered | item								3
Non-refundable license fee		1,000						$ 2,000
Amount allocated to the option of the related field		$ 800
Deferred revenue			$ 1,700		$ 1,700		$ 1,700
Exclusive agreement
Collaboration and license arrangements
Consideration on collaboration activities							$ 500

Employee benefit plans (Details

Employee benefit plans (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Employee benefit plans
Contribution made to the 401 (k) Plan	$ 0.1	$ 0.3

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Rollforward of goodwill balance
Balance as of beginning of period			$ 1,308
Balance as of end of period	$ 1,308		1,308
Purchased intangible assets
Gross Carrying Value	2,950		2,950
Accumulated Amortization	(896)		(896)
Net Carrying Value	2,054		2,054
Amortization expense	100	$ 200	300	$ 300
Estimated amortization expense
2019	287		287
2020	500		500
2021	403		403
2022	320		320
2023	238		238
Thereafter	306		$ 306
Developed technology
Purchased intangible assets
Estimated Useful Life			7 years
Gross Carrying Value	1,650		$ 1,650
Accumulated Amortization	(560)		(560)
Net Carrying Value	1,090		$ 1,090
Customer relationships
Purchased intangible assets
Estimated Useful Life			10 years
Gross Carrying Value	1,250		$ 1,250
Accumulated Amortization	(313)		(313)
Net Carrying Value	938		$ 938
Trade names
Purchased intangible assets
Estimated Useful Life			3 years
Gross Carrying Value	50		$ 50
Accumulated Amortization	(24)		(24)
Net Carrying Value	$ 26		$ 26

At-the-market offering (Details

At-the-market offering (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Jun. 05, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 19, 2019	Dec. 31, 2018
Common Stock, Value, Issued		$ 25			$ 22
Net proceeds from issuance of common shares			$ (53)
At Market Offering [Member]
Sale of common stock in at-the-market offering, shares	2.2
Shares issued (in dollars per share)	$ 22.73
Gross Proceeds From Issuance Of Common Stock	$ 49,700
Stock issuance costs	$ 1,700
Net proceeds from issuance of common shares		$ 48,019
At Market Offering [Member] | Maximum
Common Stock, Value, Issued				$ 50,000

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
bioMerieux | Joint development and license agreement
Related party transactions
Related party revenue	$ 0.1	$ 0.3	$ 0.1	$ 0.5
Tufts | License Agreement
Related party transactions
Royalty expense	0.2	$ 0.2	0.4	$ 0.3
Harvard University
Related party transactions
Related party revenue	$ 0.1		$ 0.1

Subsequent events (Details)

Subsequent events (Details) - UmanDiagnostics AB Acquisition [Member] - USD ($) $ in Millions	Aug. 01, 2019	Jun. 30, 2019	Jul. 01, 2019
Subsequent events
Transaction costs		$ 0.9
Subsequent event
Subsequent events
Total consideration	$ 22.5
Cash	$ 16
Common stock shares consideration	191,154
Common stock	$ 6.5
Capital stock shares oustanding, percent	5.00%		95.00%