Quanterix (QTRX) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity Registrant Name	Quanterix Corp
Entity File Number	001-38319
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8957988
Entity Address, Address Line One	900 Middlesex Turnpike
Entity Address, City or Town	Billerica
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01821
City Area Code	617
Local Phone Number	301-9400
Title of 12(g) Security	Common Stock, $0.001 par value per share
Trading Symbol	QTRX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		36,648,018
Entity Central Index Key	0001503274
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 410,747	$ 181,584
Accounts receivable (less allowance for credit losses of $645 and $370 as of September 30, 2021 and December 31, 2020, respectively; including $170 and $172 due from related parties as of September 30, 2021 and December 31, 2020, respectively)	18,434	17,184
Inventory	22,794	14,856
Prepaid expenses and other current assets	7,454	5,981
Total current assets	459,429	219,605
Restricted cash	1,658	1,000
Property and equipment, net	16,466	13,912
Intangible assets, net	11,374	13,716
Goodwill	9,903	10,460
Right-of-use assets	11,626	11,995
Other non-current assets	384	357
Total assets	510,840	271,045
Current liabilities:
Accounts payable (including $25 and $14 to related parties as of September 30, 2021 and December 31, 2020, respectively)	5,824	6,799
Accrued compensation and benefits	9,176	10,777
Other accrued expenses (including $19 and $1,377 to related parties as of September 30, 2021 and December 31, 2020, respectively)	5,875	4,845
Deferred revenue (including $56 and $90 with related parties as of September 30, 2021 and December 31, 2020, respectively)	5,743	5,421
Current portion of long term debt	1,993	7,673
Short term lease liabilities	1,374	1,234
Other current liabilities	1,205	3,054
Total current liabilities	31,190	39,803
Deferred revenue, net of current portion	929	577
Long term lease liabilities	20,845	21,891
Deferred tax liabilities	2,362	2,649
Total liabilities	55,326	64,920
Stockholders' equity:
Common stock, $0.001 par value: Authorized-120,000,000 shares as of September 30, 2021 and December 31, 2020; issued and outstanding - 36,574,132 and 31,796,544 shares as of September 30, 2021 and December 31, 2020, respectively	37	32
Additional paid-in capital	739,862	451,433
Accumulated other comprehensive income	1,051	2,434
Accumulated deficit	(285,436)	(247,774)
Total stockholders' equity	455,514	206,125
Total liabilities and stockholders' equity	$ 510,840	$ 271,045

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Accounts receivable, reserve for doubtful accounts	$ 645	$ 370
Accounts receivable, related parties	170	172
Accounts payable, related parties	25	14
Other accrued expenses, related parties	19	1,377
Deferred revenue, current, related parties	$ 56	$ 90
Common stock, par value	$ 1	$ 1
Common stock, authorized shares	120,000,000	120,000,000
Common stock, shares issued	36,574,132	31,796,544
Common stock, shares outstanding	36,574,132	31,796,544

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total revenue	$ 27,689	$ 31,389	$ 80,269	$ 60,246
Costs of goods sold:
Total costs of goods sold, services, and licenses	12,445	10,283	34,802	27,114
Gross profit	15,244	21,106	45,467	33,132
Operating expenses:
Research and development (including related party activity of $454 and $95 for the three months ended September 30, 2021 and 2020, respectively, and $505 and $154 for the nine months ended September 30, 2021 and 2020, respectively)	6,807	5,377	20,244	13,957
Selling, general and administrative (including related party activity of $24 and $0 for the three months ended September 30, 2021 and 2020, respectively, and $47 and $23 for the nine months ended September 30, 2021 and 2020, respectively)	23,670	13,451	63,913	40,826
Total operating expenses	30,477	18,828	84,157	54,783
(Loss) income from operations	(15,233)	2,278	(38,690)	(21,651)
Interest expense, net	(90)	(160)	(418)	(107)
Other (expense) income, net	(305)	(26)	1,478	(204)
(Loss) income before income taxes	(15,628)	2,092	(37,630)	(21,962)
Income tax benefit	(33)	111	(32)	253
Net (loss) income	$ (15,661)	$ 2,203	$ (37,662)	$ (21,709)
Net (loss) income per share, basic	$ (0.43)	$ 0.07	$ (1.05)	$ (0.75)
Weighted-average common shares outstanding, basic	36,518,177	30,139,157	35,774,455	28,881,716
Net (loss) income per share, diluted	$ (0.43)	$ 0.07	$ (1.05)	$ (0.75)
Weighted-average common shares outstanding, diluted	36,518,177	31,386,439	35,774,455	28,881,716
Product revenue
Total revenue	$ 20,662	$ 11,662	$ 57,586	$ 28,285
Costs of goods sold:
Total costs of goods sold, services, and licenses	8,639	6,387	24,233	17,989
Service and other revenue
Total revenue	5,898	6,552	17,955	18,631
Costs of goods sold:
Total costs of goods sold, services, and licenses	3,806	2,896	10,569	8,125
Collaboration and license revenue
Total revenue	120	11,246	486	11,401
Costs of goods sold:
Total costs of goods sold, services, and licenses		1,000		1,000
Grant revenue
Total revenue	$ 1,009	$ 1,929	$ 4,242	$ 1,929

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related party activity research and development expenses	$ 454	$ 95	$ 505	$ 154
Related party activity in selling, general and administrative expenses	70	0	93	23
Product revenue
Related party revenue	111	126	354	398
Cost of revenue, related party activity	295	39	1,351	116
Service and other revenue
Related party revenue	17	26	46	71
Cost of revenue, related party activity	16	0	67	0
Collaboration and license revenue
Cost of revenue, related party activity	$ 0	$ 1,000	$ 0	$ 1,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Condensed Consolidated Statements of Comprehensive (Loss) Income
Net (loss) income	$ (15,661)	$ 2,203	$ (37,662)	$ (21,709)
Other comprehensive (loss) income:
Cumulative translation adjustment	(527)	760	(1,383)	887
Total other comprehensive (loss) income	(527)	760	(1,383)	887
Comprehensive (loss) income	$ (16,188)	$ 2,963	$ (39,045)	$ (20,822)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (37,662)	$ (21,709)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	3,566	3,187
Inventory step-up amortization	275	670
Credit loss expense on accounts receivable	286
Reduction in the carrying amounts of right-of-use assets	364	204
Stock-based compensation expense	11,044	6,970
Non-cash interest expense	65	65
Loss on disposal of fixed assets		120
Changes in operating assets and liabilities:
Accounts receivable	(1,556)	(15,360)
Prepaid expenses and other assets	(1,395)	(5)
Inventory	(8,431)	(3,505)
Other non-current assets	(3)	182
Accounts payable	(972)	(187)
Accrued compensation and benefits, other accrued expenses and other current liabilities	(2,737)	2,117
Contract acquisition costs	(123)	(99)
Operating lease liabilities	(902)	515
Other non-current liabilities	(108)	(177)
Deferred revenue	674	(1,007)
Net cash used in operating activities	(37,615)	(28,019)
Investing activities
Purchases of property and equipment	(11,163)	(2,149)
Proceeds from RADx grant on assets purchased	7,019
Net cash used in investing activities	(4,144)	(2,149)
Financing activities
Proceeds from stock options exercised	6,607	1,943
Sale of common stock in underwritten public offering, net	269,718	91,404
Proceeds from ESPP purchase	1,065	888
Payments on notes payable	(5,744)	(75)
Net cash provided by financing activities	271,646	94,160
Net increase in cash and cash equivalents	229,887	63,992
Effect of foreign currency exchange rate on cash	(66)	(11)
Cash, restricted cash, and cash equivalents at beginning of period	182,584	110,181
Cash, restricted cash, and cash equivalents at end of period	412,405	174,162
Supplemental cash flow information
Cash paid for interest	389	468
Purchases of property and equipment included in accounts payable and other accrued expenses	$ 306	$ 358

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$ 410,747	$ 181,584	$ 173,162
Restricted cash	1,658	1,000	1,000
Total cash, cash equivalents, and restricted cash	$ 412,405	$ 182,584	$ 174,162	$ 110,181

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss) [Member]	Accumulated deficit	Total
Beginning Balance at Dec. 31, 2019	$ 28	$ 345,027	$ (153)	$ (216,244)	$ 128,658
Beginning balance (in shares) at Dec. 31, 2019	28,112,201
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options and vesting of restricted stock	$ 1	1,942			1,943
Exercise of common stock options and vesting of restricted stock (in shares)	376,688
Sale of common stock in underwritten public offering, net	$ 3	91,401			91,404
Sale of common stock in underwritten public offering, net (in shares)	3,048,774
ESPP stock purchase		888			888
ESPP stock purchase (in shares)	45,846
Stock-based compensation expense		6,970			6,970
Cumulative translation adjustment			887		887
Net (loss) income				(21,709)	(21,709)
Ending Balance at Sep. 30, 2020	$ 32	446,228	734	(237,953)	209,041
Ending Balance (in shares) at Sep. 30, 2020	31,583,509
Beginning Balance at Jun. 30, 2020	$ 28	351,188	(26)	(240,156)	111,034
Beginning balance (in shares) at Jun. 30, 2020	28,381,280
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options and vesting of restricted stock	$ 1	831			832
Exercise of common stock options and vesting of restricted stock (in shares)	130,302
Sale of common stock in underwritten public offering, net	$ 3	91,401			91,404
Sale of common stock in underwritten public offering, net (in shares)	3,048,774
ESPP stock purchase		448			448
ESPP stock purchase (in shares)	23,153
Stock-based compensation expense		2,360			2,360
Cumulative translation adjustment			760		760
Net (loss) income				2,203	2,203
Ending Balance at Sep. 30, 2020	$ 32	446,228	734	(237,953)	209,041
Ending Balance (in shares) at Sep. 30, 2020	31,583,509
Beginning Balance at Dec. 31, 2020	$ 32	451,433	2,434	(247,774)	206,125
Beginning balance (in shares) at Dec. 31, 2020	31,796,544
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options and vesting of restricted stock	$ 1	6,606			6,607
Exercise of common stock options and vesting of restricted stock (in shares)	641,409
Sale of common stock in underwritten public offering, net	$ 4	269,714			269,718
Sale of common stock in underwritten public offering, net (in shares)	4,107,142
ESPP stock purchase		1,065			1,065
ESPP stock purchase (in shares)	29,037
Stock-based compensation expense		11,044			11,044
Cumulative translation adjustment			(1,383)		(1,383)
Net (loss) income				(37,662)	(37,662)
Ending Balance at Sep. 30, 2021	$ 37	739,862	1,051	(285,436)	455,514
Ending Balance (in shares) at Sep. 30, 2021	36,574,132
Beginning Balance at Jun. 30, 2021	$ 37	734,170	1,578	(269,775)	466,010
Beginning balance (in shares) at Jun. 30, 2021	36,454,369
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options and vesting of restricted stock		1,138			1,138
Exercise of common stock options and vesting of restricted stock (in shares)	107,951
ESPP stock purchase		546			546
ESPP stock purchase (in shares)	11,812
Stock-based compensation expense		4,008			4,008
Cumulative translation adjustment			(527)		(527)
Net (loss) income				(15,661)	(15,661)
Ending Balance at Sep. 30, 2021	$ 37	$ 739,862	$ 1,051	$ (285,436)	$ 455,514
Ending Balance (in shares) at Sep. 30, 2021	36,574,132

Organization and operations

Organization and operations	9 Months Ended
	Sep. 30, 2021
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, which it believes is an area of significant unmet need and where it has significant competitive advantages. However, in addition to enabling new applications and insights in protein analysis, the Company’s Simoa platforms have also demonstrated applicability across other testing applications, including detection of nucleic acids and small molecules. ​ The Company launched its first immunoassay platform, the Simoa HD-1 (HD-1), in 2014. The HD-1 is a fully automated immunoassay bead-based platform with multiplexing and custom assay capability, and related assay test kits and consumable materials. In the fourth quarter of 2017, the Company launched a second bead-based immunoassay platform (SR-X) with a more compact footprint than the 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. In July 2019, the Company launched the Simoa HD-X, an upgraded version of the HD-1 and phased out the HD-1. The HD-X has been designed to deliver significant productivity and operational efficiency improvements, as well as greater user flexibility. The Company began shipping and installing HD-X instruments at customer locations in the third quarter of 2019. 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 completed the acquisition of UmanDiagnostics AB (Uman), a Swedish company located in Umea, Sweden, in August 2019. Uman supplies neurofilament 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. ​ Underwritten public offerings ​ On August 6, 2020, the Company entered into an underwriting agreement with SVB Leerink LLC (Leerink) and Cowen and Company, LLC (Cowen), as representatives of the several underwriters, relating to an underwritten public offering of approximately 3.0 million shares of the Company’s common stock, par value $0.001 per share. The underwritten public offering resulted in gross proceeds of $97.6 million. The Company incurred $6.2 million in issuance costs associated with the underwritten public offering, resulting in net proceeds to the Company of $91.4 million. On February 3, 2021, the Company entered into an underwriting agreement with Goldman Sachs & Co. LLC, Leerink, and Cowen, as representatives of the several underwriters, relating to an underwritten public offering of approximately 4.1 million shares of the Company’s common stock, par value $0.001 per share. The underwritten public offering resulted in gross proceeds of $287.5 million. The Company incurred $17.8 million in issuance costs associated with the underwritten public offering, resulting in net proceeds to the Company of $269.7 million. ​ Basis of presentation ​ The interim condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s 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 and have been prepared 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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 5, 2021 (the 2020 Annual Report on Form 10-K).

Significant accounting policies

Significant accounting policies	9 Months Ended
	Sep. 30, 2021
Significant accounting policies
Significant accounting policies	2. Significant accounting policies Principles of consolidation The condensed consolidated financial statements 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 assets acquired and liabilities assumed in acquisitions, and valuation of inventory. Actual results could differ from those estimates. Income taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on differences between the consolidated financial statement carrying amounts and the tax bases of the assets and liabilities using the enacted tax rates in effect in the years in which the differences are expected to reverse. A valuation allowance against deferred tax assets is recorded if, based on the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of Accounting Standards Codification (ASC) 740, Income Taxes ​ Restricted cash Restricted cash primarily represents collateral for a letter of credit issued as security for the lease for the Company’s headquarters in Billerica, Massachusetts, and to secure the Company’s corporate credit card program. The restricted cash is long term in nature as the Company will not have access to the funds until more than one year from September 30, 2021. Recent accounting pronouncements The Company is considered to be an “emerging growth company” (EGC) as defined in the Jumpstart Our Business Startups Act of 2012, as amended (JOBS Act). The JOBS Act provides that an EGC can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an EGC can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. Since the market value of the Company’s common stock that was held by non-affiliates exceeded $700 million as of June 30, 2021, the Company will cease to be an EGC as of December 31, 2021. As a result, starting in 2022, the Company will 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. Recently Adopted In June 2016, the Financial Accounting Standards Board (FASB) established Topic 326 , Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments ​ In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This ASU addresses the accounting for implementation, setup and other upfront costs paid by a customer in a cloud computing or hosting arrangement. The guidance aligns the accounting treatment of these costs incurred in a hosting arrangement treated as a service contract with the requirements for capitalization and amortization costs to develop or obtain internal-use software. The Company adopted ASU 2018-15 on January 1, 2021 using the prospective method. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements. ​ In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes Income Taxes There have been no other material changes to the significant accounting policies and recent accounting pronouncements previously disclosed in the 2020 Annual Report on Form 10-K.

Revenue recognition

Revenue recognition	9 Months Ended
	Sep. 30, 2021
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. 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 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. For contract research services recognized over time, the Company uses the output method to measure the progress toward the complete satisfaction of the performance obligations. 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 and certain antibodies 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. Payment terms The Company’s payment terms vary by the type and location of the customer and the products or services offered. Payment from customers is generally required in a term ranging from 30 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 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, 2021 ​ September 30, 2021 ​ NA EMEA Asia Pacific Total NA EMEA Asia Pacific Total Product revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Instruments $ 3,492 ​ $ 1,644 ​ $ 1,338 $ 6,474 $ 9,370 ​ $ 6,107 ​ $ 3,796 ​ $ 19,273 Consumable and other products ​ 8,915 ​ ​ 4,483 ​ ​ 790 ​ 14,188 ​ 24,638 ​ ​ 11,227 ​ ​ 2,448 ​ ​ 38,313 Totals $ 12,407 $ 6,127 $ 2,128 $ 20,662 $ 34,008 $ 17,334 $ 6,244 $ 57,586 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service and other revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service-type warranties $ 1,112 ​ $ 556 ​ $ 66 ​ $ 1,734 $ 3,181 ​ $ 1,452 ​ $ 179 ​ $ 4,812 Research services ​ 2,998 ​ ​ 604 ​ ​ 50 ​ ​ 3,652 ​ 9,285 ​ ​ 2,095 ​ ​ 89 ​ 11,469 Other services ​ 465 ​ ​ 47 ​ ​ — ​ ​ 512 ​ 1,271 ​ ​ 403 ​ ​ — ​ ​ 1,674 Totals $ 4,575 ​ $ 1,207 ​ $ 116 ​ $ 5,898 ​ $ 13,737 ​ $ 3,950 ​ $ 268 ​ $ 17,955 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue $ 73 ​ $ 47 ​ $ — ​ $ 120 ​ $ 301 ​ $ 185 ​ $ — ​ $ 486 Totals $ 73 $ 47 $ — $ 120 $ 301 $ 185 $ — $ 486 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, 2020 ​ September 30, 2020 ​ NA EMEA Asia Pacific Total NA EMEA Asia Pacific Total Product revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Instruments $ 2,587 $ 1,332 $ 570 $ 4,489 $ 5,560 $ 3,067 $ 2,314 $ 10,941 Consumable and other products ​ 4,108 ​ 2,523 ​ 542 ​ 7,173 ​ 8,766 ​ 7,124 ​ 1,454 ​ 17,344 Totals $ 6,695 $ 3,855 $ 1,112 $ 11,662 $ 14,326 $ 10,191 $ 3,768 $ 28,285 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service and other revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service-type warranties $ 811 $ 372 $ 50 $ 1,233 $ 2,290 $ 1,136 $ 161 $ 3,587 Research services ​ 4,083 ​ 762 ​ 64 ​ 4,909 ​ 12,144 ​ 1,357 ​ 677 ​ 14,178 Other services ​ 247 ​ 143 ​ 20 ​ 410 ​ 553 ​ 270 ​ 43 ​ 866 Totals $ 5,141 ​ $ 1,277 ​ $ 134 ​ $ 6,552 ​ $ 14,987 ​ $ 2,763 ​ $ 881 ​ $ 18,631 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue $ 11,244 ​ $ 2 ​ $ — ​ $ 11,246 ​ $ 11,388 ​ $ 13 ​ $ — ​ $ 11,401 Totals $ 11,244 $ 2 $ — $ 11,246 $ 11,388 $ 13 $ — $ 11,401 ​ The Company’s contracts with customers may include promises to transfer multiple products and services to a customer. The Company combines 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- and usage-based royalty will be recognized in the period the underlying transaction occurs. The Company recognizes revenue from sales- and usage-based royalty revenue at the later of when the sale or usage occurs and the satisfaction or partial satisfaction of the performance obligation to which the royalty has been allocated. The aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied or are partially satisfied as of September 30, 2021 and 2020 is $6.7 million and $4.2 million, respectively. As of September 30, 2021, of the performance obligations not yet satisfied or partially satisfied, $5.7 million is expected to be recognized as revenue in the next 12 months, with the remainder amounts Changes in deferred revenue from contracts with customers were as follows (in thousands): ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 Balance at December 31, 2020 $ 5,998 Deferral of revenue ​ 5,486 Recognition of deferred revenue ​ (4,812) Balance at September 30, 2021 $ 6,672 ​ 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): ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 Balance at December 31, 2020 $ 248 Deferral of costs to obtain a contract ​ 558 Recognition of costs to obtain a contract ​ (435) Balance at September 30, 2021 $ 371 ​ The Company has classified the balance of capitalized costs to obtain a contract as a component of prepaid expenses and other current assets 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 September 30, 2021 and 2020, respectively. 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. Grant revenue ​ The Company recognizes grant revenue as it performs services under the arrangement when the funding is committed. Revenues and related research and development expenses are presented gross in the consolidated statements of operations as the Company has determined it is the primary obligor under the arrangement relative to the research and development services. ​ Accounting for grants does not fall under ASC 606, as the grantor will not benefit directly from the Company’s expansion or product development. As there is no authoritative guidance under U.S. GAAP on accounting for government assistance to for-profit business entities, the Company has accounted for grants by analogy to International Accounting Standards (IAS) 20, Accounting for Government Grants and Disclosure of Government Assistance ​ Grants to the Company contain both monetary amounts granted related to assets and monetary amounts granted related to income, which are grants other than those related to assets. The grants related to assets are for the expansion and increase of manufacturing capacity. The grants related to income are for additional research and development, as well as other non-asset related scale up costs. ​ Under IAS 20, grants related to assets shall be presented in the consolidated balance sheets either by recognizing the grant as deferred income (which is recognized in the consolidated statements of operations on a systematic basis over the useful life of the asset), or by deducting the grant in calculating the carrying amount of the asset (which is recognized in the consolidated statements of operations over the life of the depreciable asset as a reduced depreciation expense). Both methods are acceptable under IAS 20. The Company has elected to record grants related to assets as a deduction in calculating the carrying value of the asset. ​ Under IAS 20, grants related to income are presented as part of the consolidated statements of operations, either separately or under a general heading. Both methods are acceptable under IAS 20. The Company has elected to record grants related to income separately on the consolidated statements of operations as grant revenue. The related expenses are recorded within operating expenses. ​ On June 22, 2020, the Company entered into a workplan 1 award (WP1) with the National Institute of Health (NIH), under the Rapid Acceleration of Diagnostics (RADx) program to assess the feasibility of a novel SARS-CoV-2 antigen detection test using the Company’s Simoa technology. WP1 was complete as of December 31, 2020. ​ On September 29, 2020, the Company entered into a workplan 2 award (WP2) with the NIH under its RADx program. WP2, which has a total award value of $18.2 million, accelerates the continued development, scale-up, and deployment of the novel SARS-CoV-2 antigen detection test using the Company’s Simoa technology. The contract provides funding to expand assay kit manufacturing capacity and commercial deployment readiness. Release of the $18.2 million of funding under WP2 is based on the achievement of certain milestones, and there is no assurance that the Company can meet all the milestones on a timely basis, if at all. If the Company does not meet all of the milestones, it will not be able access the full $18.2 million in funding under the contract. During the nine months ended September 30, 2021 the Company recognized $4.2 million in grant revenue and incurred $3.4 million in research and development expense related to WP2. ​ The following table summarizes the activity under WP2 from inception of the award as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ ​ Total grant revenue from research and development activities $ 8,604 ​ $ 4,362 Total proceeds used for assets ​ 7,773 ​ ​ 826 Total deferred proceeds for assets ​ — ​ ​ 2,478 Total deferred grant revenue ​ 975 ​ ​ 304 Total recognized $ 17,352 ​ $ 7,970 ​ ​ ​ ​ ​ ​ Total recognized $ 17,352 ​ $ 7,970 Total amount accrued ​ (1,063) ​ ​ (2,968) Total cash received $ 16,289 ​ $ 5,002 ​ ​ ​ ​ ​ ​ Total proceeds received $ 16,289 ​ $ 5,002 Total proceeds reasonably assured ​ 1,911 ​ ​ 13,198 Total WP2 grant amount $ 18,200 ​ $ 18,200 ​

Net (loss) income per share

Net (loss) income per share	9 Months Ended
	Sep. 30, 2021
Net (loss) income per share
Net (loss) income per share	4. Net (loss) income per share A reconciliation of basic and diluted shares is as follows (in thousands, except share and per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ 2021 ​ ​ 2020 ​ 2021 ​ ​ 2020 Net (loss) income $ (15,661) ​ $ 2,203 ​ $ (37,662) ​ $ (21,709) Basic weighted average common shares outstanding 36,518,177 ​ 30,139,157 ​ 35,774,455 ​ 28,881,716 Weighted average common equivalent shares — ​ 1,247,282 ​ — ​ — Diluted weighted average common shares outstanding 36,518,177 ​ 31,386,439 ​ 35,774,455 ​ 28,881,716 Basic net (loss) income per share $ (0.43) ​ $ 0.07 ​ $ (1.05) ​ $ (0.75) Diluted net (loss) income per share $ (0.43) ​ $ 0.07 ​ $ (1.05) ​ $ (0.75) ​ The following common share equivalents have been excluded from the calculation of diluted net (loss) income per share as their effect would be anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Unvested restricted common stock and restricted stock units ​ 607,118 ​ 1,260 ​ 607,118 ​ 453,212 Outstanding stock options ​ 2,244,295 ​ 100,735 ​ 2,244,295 ​ 2,633,486 Outstanding common stock warrants ​ — ​ — ​ — ​ 10,000 Total ​ 2,851,413 ​ 101,995 ​ 2,851,413 ​ 3,096,698 ​

Fair value of financial instrum

Fair value of financial instruments	9 Months Ended
	Sep. 30, 2021
Fair value of financial instruments
Fair value of financial instruments	5. Fair value of financial instruments Fair value measurements as of September 30, 2021 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 $ 162,083 $ 162,083 ​ $ — $ — ​ ​ $ 162,083 ​ $ 162,083 ​ $ — ​ $ — ​ Fair value measurements as of December 31, 2020 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 $ 162,048 $ 162,048 ​ $ — $ — ​ $ 162,048 $ 162,048 ​ $ — $ — ​

Inventory

Inventory	9 Months Ended
	Sep. 30, 2021
Inventory
Inventory	6. Inventory Inventory consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Raw materials ​ $ 9,025 ​ $ 5,265 ​ Work in process ​ 4,243 ​ 3,306 ​ Finished goods ​ 9,526 ​ 6,285 ​ Total ​ $ 22,794 ​ $ 14,856 ​ ​ Inventory comprises commercial instruments, assays, and the materials required to manufacture limited instruments and assays.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2021
Allowance for Credit Losses
Allowance for Credit Losses	7. Allowance for Credit Losses The Company is exposed to credit losses primarily through sales of products and services. The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers’ trade accounts receivable. Due to the short-term nature of such receivables, the estimated accounts receivable that may not be collected is based on aging of the accounts receivable balances. Customers are assessed for credit worthiness upfront through a credit review, which includes assessment based on the Company’s analysis of their financial statements when a credit rating is not available. The Company evaluates contract terms and conditions, country, and political risk, and may require prepayment to mitigate risk of loss. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company monitors changes to the receivables balance on a timely basis, and balances are written off as they are determined to be uncollectable after all collection efforts have been exhausted. ​ The following table provides a roll-forward of the allowance for credit losses for the nine months ended September 30, 2021 that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected (in thousands): ​ ​ ​ ​ ​ Balance at January 1, 2021 ​ $ 370 Credit loss expense ​ ​ 286 Write-offs charged against allowances ​ ​ (11) Balance at September 30, 2021 ​ $ 645 ​

Other accrued expenses

Other accrued expenses	9 Months Ended
	Sep. 30, 2021
Other accrued expenses
Other accrued expenses	8. Other accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Accrued inventory purchases ​ $ 763 ​ $ 527 Accrued property and equipment purchases ​ ​ 306 ​ ​ 670 Accrued royalties ​ 664 ​ 1,845 Accrued professional services ​ 2,202 ​ 797 Accrued development costs ​ 356 ​ 323 Accrued other ​ 1,584 ​ 683 Total accrued expenses ​ $ 5,875 ​ $ 4,845 ​ ​

Stock-based compensation

Stock-based compensation	9 Months Ended
	Sep. 30, 2021
Stock-based compensation
Stock-based compensation	9. Stock-based compensation Stock-based compensation expense for all stock awards consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ Nine Months Ended September 30, ​ 2021 2020 ​ 2021 2020 Cost of product revenue $ 96 ​ $ 54 ​ ​ $ 282 ​ $ 139 Cost of service and other revenue 115 ​ 84 ​ ​ 347 ​ 232 Research and development 440 ​ 289 ​ ​ 1,248 ​ 820 Selling, general, and administrative 3,357 ​ 1,933 ​ ​ 9,167 ​ 5,779 Total $ 4,008 ​ $ 2,360 ​ ​ $ 11,044 ​ $ 6,970 ​ As of September 30, 2021, there was $38.2 million of total unrecognized compensation cost related to unvested RSUs and stock options, which is expected to be recognized over the remaining weighted-average vesting period of 2.9 years.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases
Leases	10. Leases ​ The Company is a lessee under leases of offices, lab spaces, and certain office equipment. Some of the Company’s leases include options to extend the lease, and these options are included in the lease term to the extent they are reasonably certain to be exercised. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Summary of all lease costs recognized under ASC 842 ​ The following table contains a summary of the lease costs recognized under Topic 842, Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, Operating leases (in thousands) ​ 2021 ​ 2020 ​ 2021 ​ 2020 Lease costs (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease costs ​ $ 663 ​ $ 667 ​ $ 1,997 ​ $ 1,994 Total lease cost ​ $ 663 ​ $ 667 ​ $ 1,997 ​ $ 1,994 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows used for operating leases ​ $ 849 ​ $ 428 ​ $ 2,532 ​ $ 1,260 Weighted average remaining lease term (years) ​ ​ 8.9 years ​ ​ ​ ​ 8.9 years ​ ​ Weighted average discount rate ​ ​ 9.73% ​ ​ ​ ​ ​ 9.73% ​ ​ ​ ​ (1) Short-term lease costs and variable lease costs incurred by the Company for the three and nine months ended September 30, 2021 and 2020 were not material.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and contingencies
Commitments and contingencies	11. 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 member of the Company’s Board of Directors was affiliated with Tufts. The License Agreement, which was subsequently amended, is exclusive and sublicensable, 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 low single digit royalties on direct sales and services and a royalty on sublicense income, as well as an annual maintenance fee that is credited against royalties payable. During the three months ended September 30, 2021 and 2020 and the nine months ended September 30, 2021 and 2020, the Company recorded royalty expense of $0.2 million, $0.3 million, $1.0 million, and $0.8 million, respectively, in cost of product revenue on the consolidated statements of operations. During the three and nine months ended September 30, 2020, the Company incurred $1.0 million in cost of collaboration and license revenue owed to Tufts related to sublicensing certain technology and intellectual property to Abbott Laboratories (see Note 13). Supply agreement The Company’s supply agreement with STRATEC Biomedical required the Company to purchase a minimum number of commercial units over a seven-year period that ended in May 2021, and the Company has satisfied its required minimum purchase amount per the supply agreement through the contract period. 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	9 Months Ended
	Sep. 30, 2021
Notes payable
Notes payable	12. Notes payable Loan agreement On April 14, 2014, the Company executed a loan agreement with a lender, as subsequently amended. As of September 30, 2021, there were no additional amounts available to borrow under the debt facility. The interest rate on this term loan is variable based on the greater of 8% or 8% plus the prime rate less 5.25%. 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. Under the amended agreement, the Company was required to pay the loan principal in four equal installments starting July 1, 2021, with the final payment and end of term charge to be made on October 1, 2021. As of September 30, 2021, debt payment obligations due based on principal payments are as follows (in thousands): ​ ​ ​ ​ ​ 2021 ​ $ 1,943 Total ​ $ 1,943 ​ Non-cash interest expense related to debt discount amortization and accretion of end of term fees was $0.1 million or less for each of the three and nine months ended September 30, 2021 and 2020.

Collaboration and license arran

Collaboration and license arrangements	9 Months Ended
	Sep. 30, 2021
Collaboration and license arrangements
Collaboration and license arrangements	13. Collaboration and license arrangements The Company has entered into certain licenses with other companies for use of the Company’s technology. These licenses have royalty components which the Company earns and recognizes as collaboration and license revenue throughout the year. The Company recognized revenue of $0.1 million and $0.5 million for three and nine months ended September 30, 2021, respectively, and less than $0.1 and $0.2 million during the three and nine months ended September 30, 2020, respectively, associated with these licenses. ​ During the three and nine months ended September 30, 2020, the Company recognized $1.2 million of previously deferred revenue as a result of entering into a license agreement with a diagnostics company. As of September 30, 2021 and December 31, 2020, the Company had $0.5 million of deferred revenue related to ongoing negotiations with a diagnostics company. ​ Abbott Laboratories ​ On September 29, 2020, the Company entered into a Non-Exclusive License Agreement (the Abbott License Agreement) with Abbott Laboratories (Abbott). Pursuant to the terms of the Abbott License Agreement, the Company granted Abbott a non-exclusive, worldwide, royalty-bearing license, without the right to sublicense, under the Company’s bead-based single molecule detection patents (Licensed Patents) in the field of in vitro The Abbott License Agreement includes customary representations and warranties, covenants and indemnification obligations for a transaction of this nature. The Abbott License Agreement became effective upon signing and will continue until expiration of the last-to-expire Licensed Patent, or the agreement is earlier terminated. Under the terms of the Abbott License Agreement, the Company and Abbott each have the right to terminate the agreement for uncured material breach by, or insolvency of, the other party. Abbott may also terminate the Abbott License Agreement at any time without cause upon 60 days’ notice. ​ During the three and nine months ended September 30, 2021, the Company recognized no revenue under the Abbott License Agreement. During the three and nine months ended September 30, 2020, the Company recognized within collaboration and license revenue $10.0 million related to the initial license fee under the Abbott license Agreement. ​

Goodwill and acquired intangibl

Goodwill and acquired intangible assets	9 Months Ended
	Sep. 30, 2021
Goodwill and acquired intangible assets
Goodwill and acquired intangible assets	14. Goodwill and acquired intangible assets The changes in the carrying amount of goodwill are as follows (in thousands): ​ ​ ​ ​ ​ ​ Goodwill Balance as of December 31, 2020 ​ $ 10,460 Cumulative translation adjustment ​ ​ (557) Balance as of September 30, 2021 ​ $ 9,903 ​ Acquired intangible assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Cumulative ​ Net ​ Weighted ​ ​ Estimated Useful ​ Carrying ​ Accumulated ​ Translation ​ Carrying ​ Average ​ Life (in years) Value Amortization Adjustment Value Life R emaining (in years) Know-how ​ 8.5 ​ $ 13,000 ​ $ (3,442) ​ $ 570 ​ $ 10,128 ​ 6.24 Developed technology 7 ​ ​ 1,650 ​ ​ (1,218) ​ ​ — ​ ​ 432 ​ 3.34 Customer relationships 8.5 - 10 ​ 1,360 ​ (749) ​ ​ 5 ​ 616 ​ 6.33 Non-compete agreements ​ 5.5 ​ ​ 340 ​ ​ (153) ​ ​ 11 ​ ​ 198 ​ 3.24 Trade names 3 ​ 50 ​ (50) ​ ​ — ​ — ​ — Total ​ ​ $ 16,400 ​ $ (5,612) ​ $ 586 ​ $ 11,374 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Cumulative ​ Net ​ Weighted ​ ​ Estimated Useful ​ Carrying ​ Accumulated ​ Translation ​ Carrying ​ Average ​ Life (in years) Value Amortization Adjustment Value Life R emaining (in years) Know-how ​ 8.5 ​ $ 13,000 ​ $ (2,296) ​ $ 1,374 ​ $ 12,078 ​ 6.99 Developed technology 7 ​ ​ 1,650 ​ ​ (1,036) ​ ​ — ​ ​ 614 ​ 4.09 Customer relationships 8.5 - 10 ​ 1,360 ​ (618) ​ ​ 12 ​ 754 ​ 7.08 Non-compete agreements ​ 5.5 ​ ​ 340 ​ ​ (102) ​ ​ 31 ​ ​ 269 ​ 3.99 Trade names 3 ​ 50 ​ (49) ​ ​ — ​ 1 ​ 0.08 Total ​ ​ $ 16,400 ​ $ (4,101) ​ $ 1,417 ​ $ 13,716 ​ ​ ​ The Company recorded amortization expense of $0.5 million and $1.5 million for the three and nine months ended September 30, 2021, respectively, and $0.5 million and $1.6 million for the three and nine months ended September 30, 2020, respectively. Future estimated amortization expense of acquired intangible assets as of September 30, 2021 is as follows (in thousands): ​ ​ ​ ​ ​ For the Years Ended December 31, ​ Estimated Amortization Expense Current year (2021) ​ $ 501 2022 ​ 1,930 2023 ​ 1,848 2024 ​ ​ 1,733 2025 ​ 1,617 Thereafter ​ 3,745 ​ ​ $ 11,374 ​

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2021
Related party transactions
Related party transactions	​ 15. Related party transactions ​ the Company also incurred $1.0 million in cost of collaboration and license revenue owed to Tufts related to sublicensing certain technology and intellectual property to Abbott. ​ 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 and its affiliates was $0.1 million and $0.4 million for the three and nine months ended September 30, 2021, respectively. Revenue recorded from sales to Harvard University and its affiliates was less than $0.1 million and $0.1 million for the three and nine months ended September 30, 2020, respectively. ​

Accumulated other comprehensive

Accumulated other comprehensive income (loss)	9 Months Ended
	Sep. 30, 2021
Accumulated other comprehensive income (loss)
Accumulated other comprehensive income (loss)	16. Accumulated other comprehensive income (loss) The following shows the changes in the components of accumulated other comprehensive (loss) income for the nine months ended September 30, 2021 and 2020 which consisted of only foreign currency translation adjustments for the periods shown (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Cumulative ​ Other ​ ​ Translation ​ Comprehensive ​ ​ Adjustment ​ Income Balance - December 31, 2020 ​ $ 2,434 ​ $ 2,434 Current period accumulated other comprehensive loss ​ ​ (1,383) ​ ​ (1,383) Balance - September 30, 2021 ​ $ 1,051 ​ $ 1,051 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Cumulative ​ Other ​ ​ Translation ​ Comprehensive ​ ​ Adjustment ​ Income (loss) Balance - December 31, 2019 ​ $ (153) ​ $ (153) Current period accumulated other comprehensive income ​ ​ 887 ​ ​ 887 Balance - September 30, 2020 ​ $ 734 ​ $ 734 ​

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2021
Subsequent events
Subsequent events	17. Subsequent events On October 1, 2021, the Company made the final principal payment, including end of term fees of $2.0 million related to the loan agreement (see Note 12). ​ ​

Significant accounting polici_2

Significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2021
Significant accounting policies
Principles of consolidation	Principles of consolidation The condensed consolidated financial statements 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 assets acquired and liabilities assumed in acquisitions, and valuation of inventory. Actual results could differ from those estimates.
Income taxes	Income taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's consolidated financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on differences between the consolidated financial statement carrying amounts and the tax bases of the assets and liabilities using the enacted tax rates in effect in the years in which the differences are expected to reverse. A valuation allowance against deferred tax assets is recorded if, based on the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of Accounting Standards Codification (ASC) 740, Income Taxes ​
Restricted Cash	Restricted cash Restricted cash primarily represents collateral for a letter of credit issued as security for the lease for the Company’s headquarters in Billerica, Massachusetts, and to secure the Company’s corporate credit card program. The restricted cash is long term in nature as the Company will not have access to the funds until more than one year from September 30, 2021.
Recent accounting pronouncements	Recent accounting pronouncements The Company is considered to be an “emerging growth company” (EGC) as defined in the Jumpstart Our Business Startups Act of 2012, as amended (JOBS Act). The JOBS Act provides that an EGC can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an EGC can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. Since the market value of the Company’s common stock that was held by non-affiliates exceeded $700 million as of June 30, 2021, the Company will cease to be an EGC as of December 31, 2021. As a result, starting in 2022, the Company will 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. Recently Adopted In June 2016, the Financial Accounting Standards Board (FASB) established Topic 326 , Financial Instruments — Credit Losses: Measurement of Credit Losses on Financial Instruments ​ In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This ASU addresses the accounting for implementation, setup and other upfront costs paid by a customer in a cloud computing or hosting arrangement. The guidance aligns the accounting treatment of these costs incurred in a hosting arrangement treated as a service contract with the requirements for capitalization and amortization costs to develop or obtain internal-use software. The Company adopted ASU 2018-15 on January 1, 2021 using the prospective method. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements. ​ In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes Income Taxes There have been no other material changes to the significant accounting policies and recent accounting pronouncements previously disclosed in the 2020 Annual Report on Form 10-K.

Revenue recognition (Tables)

Revenue recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue recognition
Schedule of disaggregated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, 2021 ​ September 30, 2021 ​ NA EMEA Asia Pacific Total NA EMEA Asia Pacific Total Product revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Instruments $ 3,492 ​ $ 1,644 ​ $ 1,338 $ 6,474 $ 9,370 ​ $ 6,107 ​ $ 3,796 ​ $ 19,273 Consumable and other products ​ 8,915 ​ ​ 4,483 ​ ​ 790 ​ 14,188 ​ 24,638 ​ ​ 11,227 ​ ​ 2,448 ​ ​ 38,313 Totals $ 12,407 $ 6,127 $ 2,128 $ 20,662 $ 34,008 $ 17,334 $ 6,244 $ 57,586 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service and other revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service-type warranties $ 1,112 ​ $ 556 ​ $ 66 ​ $ 1,734 $ 3,181 ​ $ 1,452 ​ $ 179 ​ $ 4,812 Research services ​ 2,998 ​ ​ 604 ​ ​ 50 ​ ​ 3,652 ​ 9,285 ​ ​ 2,095 ​ ​ 89 ​ 11,469 Other services ​ 465 ​ ​ 47 ​ ​ — ​ ​ 512 ​ 1,271 ​ ​ 403 ​ ​ — ​ ​ 1,674 Totals $ 4,575 ​ $ 1,207 ​ $ 116 ​ $ 5,898 ​ $ 13,737 ​ $ 3,950 ​ $ 268 ​ $ 17,955 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue $ 73 ​ $ 47 ​ $ — ​ $ 120 ​ $ 301 ​ $ 185 ​ $ — ​ $ 486 Totals $ 73 $ 47 $ — $ 120 $ 301 $ 185 $ — $ 486 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, 2020 ​ September 30, 2020 ​ NA EMEA Asia Pacific Total NA EMEA Asia Pacific Total Product revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Instruments $ 2,587 $ 1,332 $ 570 $ 4,489 $ 5,560 $ 3,067 $ 2,314 $ 10,941 Consumable and other products ​ 4,108 ​ 2,523 ​ 542 ​ 7,173 ​ 8,766 ​ 7,124 ​ 1,454 ​ 17,344 Totals $ 6,695 $ 3,855 $ 1,112 $ 11,662 $ 14,326 $ 10,191 $ 3,768 $ 28,285 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service and other revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service-type warranties $ 811 $ 372 $ 50 $ 1,233 $ 2,290 $ 1,136 $ 161 $ 3,587 Research services ​ 4,083 ​ 762 ​ 64 ​ 4,909 ​ 12,144 ​ 1,357 ​ 677 ​ 14,178 Other services ​ 247 ​ 143 ​ 20 ​ 410 ​ 553 ​ 270 ​ 43 ​ 866 Totals $ 5,141 ​ $ 1,277 ​ $ 134 ​ $ 6,552 ​ $ 14,987 ​ $ 2,763 ​ $ 881 ​ $ 18,631 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collaboration and license revenue $ 11,244 ​ $ 2 ​ $ — ​ $ 11,246 ​ $ 11,388 ​ $ 13 ​ $ — ​ $ 11,401 Totals $ 11,244 $ 2 $ — $ 11,246 $ 11,388 $ 13 $ — $ 11,401 ​
Schedule of changes in deferred revenue from contracts with customers	Changes in deferred revenue from contracts with customers were as follows (in thousands): ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 Balance at December 31, 2020 $ 5,998 Deferral of revenue ​ 5,486 Recognition of deferred revenue ​ (4,812) Balance at September 30, 2021 $ 6,672
Schedule of costs to obtain a contract	​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 Balance at December 31, 2020 $ 248 Deferral of costs to obtain a contract ​ 558 Recognition of costs to obtain a contract ​ (435) Balance at September 30, 2021 $ 371 ​
Schedule of summary of the activity under WP2	The following table summarizes the activity under WP2 from inception of the award as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ ​ Total grant revenue from research and development activities $ 8,604 ​ $ 4,362 Total proceeds used for assets ​ 7,773 ​ ​ 826 Total deferred proceeds for assets ​ — ​ ​ 2,478 Total deferred grant revenue ​ 975 ​ ​ 304 Total recognized $ 17,352 ​ $ 7,970 ​ ​ ​ ​ ​ ​ Total recognized $ 17,352 ​ $ 7,970 Total amount accrued ​ (1,063) ​ ​ (2,968) Total cash received $ 16,289 ​ $ 5,002 ​ ​ ​ ​ ​ ​ Total proceeds received $ 16,289 ​ $ 5,002 Total proceeds reasonably assured ​ 1,911 ​ ​ 13,198 Total WP2 grant amount $ 18,200 ​ $ 18,200

Net (loss) income per share (Ta

Net (loss) income per share (Tables)	9 Months Ended
	Sep. 30, 2021
Net (loss) income per share
Schedule of basic and diluted shares	A reconciliation of basic and diluted shares is as follows (in thousands, except share and per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ 2021 ​ ​ 2020 ​ 2021 ​ ​ 2020 Net (loss) income $ (15,661) ​ $ 2,203 ​ $ (37,662) ​ $ (21,709) Basic weighted average common shares outstanding 36,518,177 ​ 30,139,157 ​ 35,774,455 ​ 28,881,716 Weighted average common equivalent shares — ​ 1,247,282 ​ — ​ — Diluted weighted average common shares outstanding 36,518,177 ​ 31,386,439 ​ 35,774,455 ​ 28,881,716 Basic net (loss) income per share $ (0.43) ​ $ 0.07 ​ $ (1.05) ​ $ (0.75) Diluted net (loss) income per share $ (0.43) ​ $ 0.07 ​ $ (1.05) ​ $ (0.75)
Schedule of common share equivalents have been excluded from the calculation of diluted net (loss) income per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Unvested restricted common stock and restricted stock units ​ 607,118 ​ 1,260 ​ 607,118 ​ 453,212 Outstanding stock options ​ 2,244,295 ​ 100,735 ​ 2,244,295 ​ 2,633,486 Outstanding common stock warrants ​ — ​ — ​ — ​ 10,000 Total ​ 2,851,413 ​ 101,995 ​ 2,851,413 ​ 3,096,698

Fair value of financial instr_2

Fair value of financial instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair value of financial instruments
Schedule of fair value measurements	Fair value measurements as of September 30, 2021 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 $ 162,083 $ 162,083 ​ $ — $ — ​ ​ $ 162,083 ​ $ 162,083 ​ $ — ​ $ — ​ Fair value measurements as of December 31, 2020 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 $ 162,048 $ 162,048 ​ $ — $ — ​ $ 162,048 $ 162,048 ​ $ — $ —

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory
Summary of inventory	Inventory consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Raw materials ​ $ 9,025 ​ $ 5,265 ​ Work in process ​ 4,243 ​ 3,306 ​ Finished goods ​ 9,526 ​ 6,285 ​ Total ​ $ 22,794 ​ $ 14,856 ​

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2021
Allowance for Credit Losses
Schedule of the allowance for credit losses	​ ​ ​ ​ ​ Balance at January 1, 2021 ​ $ 370 Credit loss expense ​ ​ 286 Write-offs charged against allowances ​ ​ (11) Balance at September 30, 2021 ​ $ 645

Other accrued expenses (Tables)

Other accrued expenses (Tables)	9 Months Ended
	Sep. 30, 2021
Other accrued expenses
Summary of other accrued expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Accrued inventory purchases ​ $ 763 ​ $ 527 Accrued property and equipment purchases ​ ​ 306 ​ ​ 670 Accrued royalties ​ 664 ​ 1,845 Accrued professional services ​ 2,202 ​ 797 Accrued development costs ​ 356 ​ 323 Accrued other ​ 1,584 ​ 683 Total accrued expenses ​ $ 5,875 ​ $ 4,845

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Stock-based compensation
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 September 30, ​ ​ Nine Months Ended September 30, ​ 2021 2020 ​ 2021 2020 Cost of product revenue $ 96 ​ $ 54 ​ ​ $ 282 ​ $ 139 Cost of service and other revenue 115 ​ 84 ​ ​ 347 ​ 232 Research and development 440 ​ 289 ​ ​ 1,248 ​ 820 Selling, general, and administrative 3,357 ​ 1,933 ​ ​ 9,167 ​ 5,779 Total $ 4,008 ​ $ 2,360 ​ ​ $ 11,044 ​ $ 6,970

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases
Summary of the lease costs recognized under ASC 842	The following table contains a summary of the lease costs recognized under Topic 842, Leases ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, Operating leases (in thousands) ​ 2021 ​ 2020 ​ 2021 ​ 2020 Lease costs (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease costs ​ $ 663 ​ $ 667 ​ $ 1,997 ​ $ 1,994 Total lease cost ​ $ 663 ​ $ 667 ​ $ 1,997 ​ $ 1,994 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows used for operating leases ​ $ 849 ​ $ 428 ​ $ 2,532 ​ $ 1,260 Weighted average remaining lease term (years) ​ ​ 8.9 years ​ ​ ​ ​ 8.9 years ​ ​ Weighted average discount rate ​ ​ 9.73% ​ ​ ​ ​ ​ 9.73% ​ ​ ​ ​ (1) Short-term lease costs and variable lease costs incurred by the Company for the three and nine months ended September 30, 2021 and 2020 were not material.

Notes payable (Tables)

Notes payable (Tables)	9 Months Ended
	Sep. 30, 2021
Notes payable
Schedule of debt payment obligations due based on principal payments	As of September 30, 2021, debt payment obligations due based on principal payments are as follows (in thousands): ​ ​ ​ ​ ​ 2021 ​ $ 1,943 Total ​ $ 1,943

Goodwill and acquired intangi_2

Goodwill and acquired intangible assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and acquired intangible assets
Rollforward of goodwill balance	The changes in the carrying amount of goodwill are as follows (in thousands): ​ ​ ​ ​ ​ ​ Goodwill Balance as of December 31, 2020 ​ $ 10,460 Cumulative translation adjustment ​ ​ (557) Balance as of September 30, 2021 ​ $ 9,903
Summary of intangible assets	Acquired intangible assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Cumulative ​ Net ​ Weighted ​ ​ Estimated Useful ​ Carrying ​ Accumulated ​ Translation ​ Carrying ​ Average ​ Life (in years) Value Amortization Adjustment Value Life R emaining (in years) Know-how ​ 8.5 ​ $ 13,000 ​ $ (3,442) ​ $ 570 ​ $ 10,128 ​ 6.24 Developed technology 7 ​ ​ 1,650 ​ ​ (1,218) ​ ​ — ​ ​ 432 ​ 3.34 Customer relationships 8.5 - 10 ​ 1,360 ​ (749) ​ ​ 5 ​ 616 ​ 6.33 Non-compete agreements ​ 5.5 ​ ​ 340 ​ ​ (153) ​ ​ 11 ​ ​ 198 ​ 3.24 Trade names 3 ​ 50 ​ (50) ​ ​ — ​ — ​ — Total ​ ​ $ 16,400 ​ $ (5,612) ​ $ 586 ​ $ 11,374 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Cumulative ​ Net ​ Weighted ​ ​ Estimated Useful ​ Carrying ​ Accumulated ​ Translation ​ Carrying ​ Average ​ Life (in years) Value Amortization Adjustment Value Life R emaining (in years) Know-how ​ 8.5 ​ $ 13,000 ​ $ (2,296) ​ $ 1,374 ​ $ 12,078 ​ 6.99 Developed technology 7 ​ ​ 1,650 ​ ​ (1,036) ​ ​ — ​ ​ 614 ​ 4.09 Customer relationships 8.5 - 10 ​ 1,360 ​ (618) ​ ​ 12 ​ 754 ​ 7.08 Non-compete agreements ​ 5.5 ​ ​ 340 ​ ​ (102) ​ ​ 31 ​ ​ 269 ​ 3.99 Trade names 3 ​ 50 ​ (49) ​ ​ — ​ 1 ​ 0.08 Total ​ ​ $ 16,400 ​ $ (4,101) ​ $ 1,417 ​ $ 13,716 ​ ​
Schedule of future estimated amortization expense of acquired intangible assets	Future estimated amortization expense of acquired intangible assets as of September 30, 2021 is as follows (in thousands): ​ ​ ​ ​ ​ For the Years Ended December 31, ​ Estimated Amortization Expense Current year (2021) ​ $ 501 2022 ​ 1,930 2023 ​ 1,848 2024 ​ ​ 1,733 2025 ​ 1,617 Thereafter ​ 3,745 ​ ​ $ 11,374

Accumulated other comprehensi_2

Accumulated other comprehensive income (loss) (Tables)	9 Months Ended
	Sep. 30, 2021
Accumulated other comprehensive income (loss)
Schedule of Accumulated Other Comprehensive Income (Loss)	The following shows the changes in the components of accumulated other comprehensive (loss) income for the nine months ended September 30, 2021 and 2020 which consisted of only foreign currency translation adjustments for the periods shown (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Cumulative ​ Other ​ ​ Translation ​ Comprehensive ​ ​ Adjustment ​ Income Balance - December 31, 2020 ​ $ 2,434 ​ $ 2,434 Current period accumulated other comprehensive loss ​ ​ (1,383) ​ ​ (1,383) Balance - September 30, 2021 ​ $ 1,051 ​ $ 1,051 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Cumulative ​ Other ​ ​ Translation ​ Comprehensive ​ ​ Adjustment ​ Income (loss) Balance - December 31, 2019 ​ $ (153) ​ $ (153) Current period accumulated other comprehensive income ​ ​ 887 ​ ​ 887 Balance - September 30, 2020 ​ $ 734 ​ $ 734

Organization and operations (De

Organization and operations (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Feb. 03, 2021	Aug. 06, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Initial Public Offering
Common stock, par value			$ 1		$ 1
Sale of common stock in underwritten public offering, net			$ 269,718	$ 91,404
Underwritten public offering
Initial Public Offering
Sale of common stock in underwritten public offering, net (in shares)	4.1	3
Common stock, par value	$ 0.001	$ 0.001
Gross proceeds	$ 287,500	$ 97,600
Stock issuance cost	17,800	6,200
Sale of common stock in underwritten public offering, net	$ 269,700	$ 91,400

Revenue recognition - Customers

Revenue recognition - Customers (Details)	9 Months Ended
	Sep. 30, 2021
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue recognition
Total revenue	$ 27,689	$ 31,389	$ 80,269	$ 60,246
Product revenue
Revenue recognition
Total revenue	20,662	11,662	57,586	28,285
Product revenue | NA
Revenue recognition
Total revenue	12,407	6,695	34,008	14,326
Product revenue | EMEA
Revenue recognition
Total revenue	6,127	3,855	17,334	10,191
Product revenue | Asia Pacific
Revenue recognition
Total revenue	2,128	1,112	6,244	3,768
Instruments
Revenue recognition
Total revenue	6,474	4,489	19,273	10,941
Instruments | NA
Revenue recognition
Total revenue	3,492	2,587	9,370	5,560
Instruments | EMEA
Revenue recognition
Total revenue	1,644	1,332	6,107	3,067
Instruments | Asia Pacific
Revenue recognition
Total revenue	1,338	570	3,796	2,314
Consumable and other products
Revenue recognition
Total revenue	14,188	7,173	38,313	17,344
Consumable and other products | NA
Revenue recognition
Total revenue	8,915	4,108	24,638	8,766
Consumable and other products | EMEA
Revenue recognition
Total revenue	4,483	2,523	11,227	7,124
Consumable and other products | Asia Pacific
Revenue recognition
Total revenue	790	542	2,448	1,454
Service and other revenue
Revenue recognition
Total revenue	5,898	6,552	17,955	18,631
Service and other revenue | NA
Revenue recognition
Total revenue	4,575	5,141	13,737	14,987
Service and other revenue | EMEA
Revenue recognition
Total revenue	1,207	1,277	3,950	2,763
Service and other revenue | Asia Pacific
Revenue recognition
Total revenue	116	134	268	881
Service-type warranties
Revenue recognition
Total revenue	1,734	1,233	4,812	3,587
Service-type warranties | NA
Revenue recognition
Total revenue	1,112	811	3,181	2,290
Service-type warranties | EMEA
Revenue recognition
Total revenue	556	372	1,452	1,136
Service-type warranties | Asia Pacific
Revenue recognition
Total revenue	66	50	179	161
Research services
Revenue recognition
Total revenue	3,652	4,909	11,469	14,178
Research services | NA
Revenue recognition
Total revenue	2,998	4,083	9,285	12,144
Research services | EMEA
Revenue recognition
Total revenue	604	762	2,095	1,357
Research services | Asia Pacific
Revenue recognition
Total revenue	50	64	89	677
Other services
Revenue recognition
Total revenue	512	410	1,674	866
Other services | NA
Revenue recognition
Total revenue	465	247	1,271	553
Other services | EMEA
Revenue recognition
Total revenue	47	143	403	270
Other services | Asia Pacific
Revenue recognition
Total revenue		20		43
Collaboration and license revenue
Revenue recognition
Total revenue	120	11,246	486	11,401
Collaboration and license revenue | NA
Revenue recognition
Total revenue	73	11,244	301	11,388
Collaboration and license revenue | EMEA
Revenue recognition
Total revenue	47	2	185	13
Grant revenue
Revenue recognition
Total revenue	$ 1,009	$ 1,929	$ 4,242	$ 1,929

Revenue recognition - Future pe

Revenue recognition - Future performance obligations (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 6.7	$ 4.2
Service-type warranties and research services
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	5.2
Undelivered licenses of intellectual property
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	0.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 5.7
Performance obligation satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 1
Performance obligation satisfaction period	24 months

Revenue recognition - Changes i

Revenue recognition - Changes in deferred revenue from contracts with customers (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Changes in deferred revenue from contracts with customers
Balance at beginning of period	$ 5,998
Deferral of revenue	5,486
Recognition of deferred revenue	(4,812)
Balance at end of period	$ 6,672

Revenue recognition - Costs to

Revenue recognition - Costs to obtain a contract (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Change in the balance of costs to obtain a contract
Balance at beginning of period	$ 248
Deferral of costs to obtain a contract	558
Recognition of costs to obtain a contract	(435)
Balance at end of period	$ 371

Revenue recognition - Practical

Revenue recognition - Practical expedients (Details)	9 Months Ended
	Sep. 30, 2021
Revenue recognition
Revenue, Practical Expedient, Financing Component [true false]	true
Revenue, Remaining Performance Obligation, Optional Exemption, Performance Obligation [true false]	true

Revenue recognition - Grant rev

Revenue recognition - Grant revenue (Details) - USD ($) $ in Thousands	Sep. 29, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Total revenue		$ 27,689	$ 31,389	$ 80,269	$ 60,246
Research and Development Expense		6,807	5,377	20,244	13,957
RADx WP2
Contract value	$ 18,200
Research and Development Expense				3,400
Grant revenue
Total revenue		$ 1,009	$ 1,929	4,242	$ 1,929
Grant revenue | RADx WP2
Total revenue				8,604		$ 4,362
Contract value				$ 18,200		$ 18,200

Revenue recognition - Summarize

Revenue recognition - Summarizes the activity under WP2 (Details) - USD ($) $ in Thousands	Sep. 29, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue		$ 27,689	$ 31,389	$ 80,269	$ 60,246
Grant revenue
Disaggregation of Revenue [Line Items]
Total revenue		1,009	$ 1,929	4,242	$ 1,929
RADx WP2
Disaggregation of Revenue [Line Items]
Total WP2 grant amount	$ 18,200
RADx WP2 | Grant revenue
Disaggregation of Revenue [Line Items]
Total revenue				8,604		$ 4,362
Total proceeds used for assets				7,773		826
Total deferred proceeds for assets						2,478
Total deferred grant revenue				975		304
Total recognized				17,352		7,970
Total amount accrued		(1,063)		(1,063)		(2,968)
Total cash received				16,289		5,002
Total proceeds received				16,289		5,002
Total proceeds reasonably assured		$ 1,911		1,911		13,198
Total WP2 grant amount				$ 18,200		$ 18,200

Net (loss) income per share - B

Net (loss) income per share - Basic and diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net (loss) income per share
Net (loss) income	$ (15,661)	$ 2,203	$ (37,662)	$ (21,709)
Basic weighted average common shares outstanding	36,518,177	30,139,157	35,774,455	28,881,716
Weighted average common equivalent shares		1,247,282
Diluted weighted average common shares outstanding	36,518,177	31,386,439	35,774,455	28,881,716
Basic net (loss) income per share	$ (0.43)	$ 0.07	$ (1.05)	$ (0.75)
Diluted net (loss) income per share	$ (0.43)	$ 0.07	$ (1.05)	$ (0.75)

Net (loss) income per share - C

Net (loss) income per share - Common share equivalents have been excluded from the calculation of diluted net (loss) income per share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net (loss) income per share
Number of common share equivalents excluded in the calculation of diluted net (loss) income per share	2,851,413	101,995	2,851,413	3,096,698
Unvested restricted common stock and restricted stock units
Net (loss) income per share
Number of common share equivalents excluded in the calculation of diluted net (loss) income per share	607,118	1,260	607,118	453,212
Outstanding stock options
Net (loss) income per share
Number of common share equivalents excluded in the calculation of diluted net (loss) income per share	2,244,295	100,735	2,244,295	2,633,486
Warrants
Net (loss) income per share
Number of common share equivalents excluded in the calculation of diluted net (loss) income per share				10,000

Fair value of financial instr_3

Fair value of financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash equivalents	$ 162,083	$ 162,048
Total	162,083	162,048
Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash equivalents	162,083	162,048
Total	$ 162,083	$ 162,048

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory
Raw Materials	$ 9,025	$ 5,265
Work in process	4,243	3,306
Finished goods	9,526	6,285
Total	$ 22,794	$ 14,856

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Allowance for Credit Losses
Beginning Balance	$ 370
Credit loss expense	286
Write-offs charged against allowances	(11)
Ending Balance	$ 645

Other accrued expenses (Details

Other accrued expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other accrued expenses
Accrued inventory purchases	$ 763	$ 527
Accrued property and equipment purchases	306	670
Accrued royalties	664	1,845
Accrued professional services	2,202	797
Accrued development costs	356	323
Accrued other	1,584	683
Total accrued expenses	$ 5,875	$ 4,845

Stock-based compensation - Shar

Stock-based compensation - Share-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stock-based compensation
Share-based compensation expense	$ 4,008	$ 2,360	$ 11,044	$ 6,970
Cost of product revenue
Stock-based compensation
Share-based compensation expense	96	54	282	139
Cost of service and other revenue
Stock-based compensation
Share-based compensation expense	115	84	347	232
Research and development
Stock-based compensation
Share-based compensation expense	440	289	1,248	820
General and administrative
Stock-based compensation
Share-based compensation expense	3,357	$ 1,933	9,167	$ 5,779
Restricted stock units and stock options
Stock-based compensation
Total unrecognized compensation cost related to unvested stock awards	$ 38,200		$ 38,200
Period of recognition of unrecognized compensation cost			2 years 10 months 24 days

Leases - Lease costs recognized

Leases - Lease costs recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lease costs
Operating lease costs	$ 663	$ 667	$ 1,997	$ 1,994
Total lease cost	663	667	1,997	1,994
Operating cash flows used for operating leases	$ 849	$ 428	$ 2,532	$ 1,260
Weighted average remaining lease term	8 years 10 months 24 days		8 years 10 months 24 days
Weighted average discount rate	9.73%		9.73%

Commitments and contingencies -

Commitments and contingencies - License agreements and Lease commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
License agreements
Cost of Revenue	$ 12,445	$ 10,283	$ 34,802	$ 27,114
Tufts | License agreements
License agreements
Royalty expense	$ 200	300	$ 1,000	800
Collaboration and license revenue
License agreements
Cost of Revenue		1,000		1,000
Collaboration and license revenue | Tufts
License agreements
Cost of Revenue		$ 1,000		$ 1,000

Commitments and contingencies_2

Commitments and contingencies - Development and supply agreement and Legal contingencies (Details)	9 Months Ended
	Sep. 30, 2021
Commitments and contingencies
Period to purchase minimum number of commercial units	7 years

Notes payable (Details)

Notes payable (Details) - USD ($) $ in Millions	Apr. 14, 2014	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Long Term Debt
Non-cash interest expense		$ 0.1	$ 0.1	$ 0.1	$ 0.1
Loan agreement
Long Term Debt
Additional amounts available to borrow		$ 0		$ 0
Interest rate (as a percent)	8.00%
Prime rate | Loan agreement
Long Term Debt
Margin on variable interest rate (as a percent)	(5.25%)

Notes payable - Debt payment ob

Notes payable - Debt payment obligations (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt payment obligations due based on principal payments
2021	$ 1,943
Total	$ 1,943

Collaboration and license arr_2

Collaboration and license arrangements (Details) - USD ($) $ in Thousands	Sep. 29, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Collaboration and license arrangements
Revenue		$ 27,689	$ 31,389	$ 80,269	$ 60,246
Previously deferred revenue			1,200		1,200
Deferred revenue		500		500		$ 500
Joint development and license agreement
Collaboration and license arrangements
Revenue		100		500	200
Joint development and license agreement | Maximum
Collaboration and license arrangements
Revenue			100
Abbot license agreement
Collaboration and license arrangements
Initial license fee receivable	$ 10,000
Number of days notice to terminate agreement	60 days
Collaboration and license revenue
Collaboration and license arrangements
Revenue		120	11,246	486	11,401
Collaboration and license revenue | Abbot license agreement
Collaboration and license arrangements
Revenue		$ 0	$ 10,000	$ 0	$ 10,000

Goodwill and acquired intangi_3

Goodwill and acquired intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Rollforward of goodwill balance
Balance as of beginning of period			$ 10,460
Cumulative translation adjustment			(557)
Balance as of end of period	$ 9,903		9,903		$ 10,460
Purchased intangible assets
Gross Carrying Value	16,400		16,400		16,400
Accumulated Amortization	(5,612)		(5,612)		(4,101)
Cumulative Translation Adjustment	586		586		1,417
Net Carrying Value	11,374		11,374		$ 13,716
Amortization expense	500	$ 500	1,500	$ 1,600
Estimated amortization expense
Current year (2021)	501		501
2022	1,930		1,930
2023	1,848		1,848
2024	1,733		1,733
2025	1,617		1,617
Thereafter	3,745		3,745
Estimated Amortization Expenses	11,374		$ 11,374
Know How
Purchased intangible assets
Estimated Useful Life			8 years 6 months		8 years 6 months
Gross Carrying Value	13,000		$ 13,000		$ 13,000
Accumulated Amortization	(3,442)		(3,442)		(2,296)
Cumulative Translation Adjustment	570		570		1,374
Net Carrying Value	10,128		$ 10,128		$ 12,078
Weighted average life remaining			6 years 2 months 26 days		6 years 11 months 26 days
Developed technology
Purchased intangible assets
Estimated Useful Life			7 years		7 years
Gross Carrying Value	1,650		$ 1,650		$ 1,650
Accumulated Amortization	(1,218)		(1,218)		(1,036)
Net Carrying Value	432		$ 432		$ 614
Weighted average life remaining			3 years 4 months 2 days		4 years 1 month 2 days
Customer relationships
Purchased intangible assets
Gross Carrying Value	1,360		$ 1,360		$ 1,360
Accumulated Amortization	(749)		(749)		(618)
Cumulative Translation Adjustment	5		5		12
Net Carrying Value	616		$ 616		$ 754
Weighted average life remaining			6 years 3 months 29 days		7 years 29 days
Noncompete Agreements
Purchased intangible assets
Estimated Useful Life			5 years 6 months		5 years 6 months
Gross Carrying Value	340		$ 340		$ 340
Accumulated Amortization	(153)		(153)		(102)
Cumulative Translation Adjustment	11		11		31
Net Carrying Value	198		$ 198		$ 269
Weighted average life remaining			3 years 2 months 26 days		3 years 11 months 26 days
Trade names
Purchased intangible assets
Estimated Useful Life			3 years		3 years
Gross Carrying Value	50		$ 50		$ 50
Accumulated Amortization	$ (50)		$ (50)		(49)
Net Carrying Value					$ 1
Weighted average life remaining					29 days
Minimum | Customer relationships
Purchased intangible assets
Estimated Useful Life			8 years 6 months		8 years 6 months
Maximum | Customer relationships
Purchased intangible assets
Estimated Useful Life			10 years		10 years

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related party transactions
Cost of revenue	$ 12,445	$ 10,283	$ 34,802	$ 27,114
Collaboration and license revenue
Related party transactions
Cost of revenue		1,000		1,000
Tufts | Collaboration and license revenue
Related party transactions
Cost of revenue		1,000		1,000
Tufts | License Agreement
Related party transactions
Royalty Expense	200	300	1,000	800
Harvard University
Related party transactions
Related party revenue	$ 100		$ 400	$ 100
Harvard University | Maximum
Related party transactions
Related party revenue		$ 100

Accumulated other comprehensi_3

Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated other comprehensive income (loss)
Current period accumulated other comprehensive income (loss)	$ (527)	$ 760	$ (1,383)	$ 887
Cumulative Translation Adjustment
Accumulated other comprehensive income (loss)
Beginning balance			2,434	(153)
Current period accumulated other comprehensive income (loss)			(1,383)	887
Ending Balance	1,051	734	1,051	734
Accumulated other comprehensive income (loss) [Member]
Accumulated other comprehensive income (loss)
Beginning balance			2,434	(153)
Current period accumulated other comprehensive income (loss)	(527)	760	(1,383)	887
Ending Balance	$ 1,051	$ 734	$ 1,051	$ 734

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Sep. 30, 2021	Sep. 30, 2020
Subsequent events
Payments on notes payable		$ 5,744	$ 75
Subsequent event | Loan agreement
Subsequent events
Payments on notes payable	$ 2,000