Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Mar. 31, 2019 | Apr. 29, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | TWST | |
Entity Registrant Name | Twist Bioscience Corp | |
Entity Central Index Key | 0001581280 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Common Stock, Shares Outstanding | 28,039,937 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Current assets | ||
Cash and cash equivalents | $ 28,693 | $ 80,757 |
Short-term investments | 75,631 | |
Accounts receivable, net | 7,998 | 5,419 |
Inventories | 4,449 | 6,028 |
Prepaid expenses and other current assets | 4,220 | 3,467 |
Total current assets | 120,991 | 95,671 |
Property and equipment, net | 14,940 | 12,331 |
Goodwill | 1,138 | 1,138 |
Intangible assets, net | 610 | 712 |
Restricted cash, non-current | 579 | 579 |
Other non-current assets | 1,912 | 5,360 |
Total assets | 140,170 | 115,791 |
Current liabilities | ||
Accounts payable | 4,505 | 7,531 |
Accrued expenses | 2,412 | 2,166 |
Accrued payroll | 7,436 | 5,401 |
Current portion of long-term debt | 3,333 | 2,500 |
Other current liabilities | 894 | 939 |
Total current liabilities | 18,580 | 18,537 |
Redeemable convertible preferred stock warrant liability | 631 | |
Long-term debt, net of current portion | 5,828 | 7,218 |
Other non-current liabilities | 282 | 344 |
Total liabilities | 24,690 | 26,730 |
Commitments and contingencies | ||
Redeemable convertible preferred stock | 290,483 | |
Stockholders' equity (deficit) | ||
Preferred stock | ||
Common stock | 0 | 0 |
Additional paid-in capital | 375,043 | 9,346 |
Accumulated other comprehensive income (loss) | (136) | 87 |
Accumulated deficit | (259,427) | (210,855) |
Total stockholders' equity (deficit) | 115,480 | (201,422) |
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | $ 140,170 | 115,791 |
Series A Redeemable Convertible Preferred Stock [Member] | ||
Current liabilities | ||
Redeemable convertible preferred stock | 9,141 | |
Series B Redeemable Convertible Preferred Stock [Member] | ||
Current liabilities | ||
Redeemable convertible preferred stock | 25,900 | |
Series C Redeemable Convertible Preferred Stock [Member] | ||
Current liabilities | ||
Redeemable convertible preferred stock | 36,726 | |
Series D Redeemable Convertible Preferred Stock [Member] | ||
Current liabilities | ||
Redeemable convertible preferred stock | $ 218,716 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2019 | Sep. 30, 2018 |
Preferred stock, par value | $ 0.00001 | $ 0.00001 |
Preferred stock, share authorized | 10,000,000 | 0 |
Preferred stock, share issued | 0 | 0 |
Preferred stock, share outstanding | 0 | 0 |
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, share authorized | 100,000,000 | 27,775,000 |
Common stock, share issued | 28,024,052 | 3,206,048 |
Common stock, share outstanding | 28,024,052 | 3,206,048 |
Series A Redeemable Convertible Preferred Stock [Member] | ||
Redeemable convertible preferred stock, par value | $ 0.00001 | $ 0.00001 |
Redeemable convertible preferred stock, share authorized | 0 | 2,854,576 |
Redeemable convertible preferred stock, share issued | 0 | 2,817,723 |
Redeemable convertible preferred stock, share outstanding | 0 | 2,817,723 |
Series B Redeemable Convertible Preferred Stock [Member] | ||
Redeemable convertible preferred stock, par value | $ 0.00001 | $ 0.00001 |
Redeemable convertible preferred stock, share authorized | 0 | 3,331,878 |
Redeemable convertible preferred stock, share issued | 0 | 3,315,645 |
Redeemable convertible preferred stock, share outstanding | 0 | 3,315,645 |
Series C Redeemable Convertible Preferred Stock [Member] | ||
Redeemable convertible preferred stock, par value | $ 0.00001 | $ 0.00001 |
Redeemable convertible preferred stock, share authorized | 0 | 2,510,354 |
Redeemable convertible preferred stock, share issued | 0 | 2,491,483 |
Redeemable convertible preferred stock, share outstanding | 0 | 2,491,483 |
Series D Redeemable Convertible Preferred Stock [Member] | ||
Redeemable convertible preferred stock, par value | $ 0.00001 | $ 0.00001 |
Redeemable convertible preferred stock, share authorized | 0 | 10,475,252 |
Redeemable convertible preferred stock, share issued | 0 | 10,326,454 |
Redeemable convertible preferred stock, share outstanding | 0 | 10,326,454 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Revenues | $ 13,557 | $ 6,166 | $ 25,049 | $ 10,479 |
Operating expenses: | ||||
Cost of revenues | 11,789 | 8,095 | 23,646 | 15,593 |
Research and development | 8,907 | 4,711 | 16,180 | 9,014 |
Selling, general and administrative | 19,124 | 9,978 | 34,383 | 19,241 |
Total operating expenses | 39,820 | 22,784 | 74,209 | 43,848 |
Loss from operations | (26,263) | (16,618) | (49,160) | (33,369) |
Interest income | 775 | 148 | 1,439 | 306 |
Interest expense | (340) | (317) | (688) | (590) |
Other income (expense), net | (21) | (43) | (36) | (62) |
Loss before income taxes | (25,849) | (16,830) | (48,445) | (33,715) |
Provision for income taxes | (84) | (43) | (127) | (95) |
Net loss attributable to common stockholders | (25,933) | (16,873) | (48,572) | (33,810) |
Other comprehensive loss: | ||||
Change in unrealized gain on investments | 20 | 1 | 13 | |
Foreign currency translation adjustment | (180) | 11 | (236) | 21 |
Comprehensive loss | $ (26,093) | $ (16,861) | $ (48,795) | $ (33,789) |
Net loss per share attributable to common stockholders-basic and diluted | $ (0.93) | $ (6.32) | $ (2.06) | $ (12.74) |
Weighted average shares used in computing net loss per share attributable to common stockholders-basic and diluted | 27,891,700 | 2,669,541 | 23,539,617 | 2,653,805 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Series A Redeemable Convertible Preferred Stock [Member] | Series B Redeemable Convertible Preferred Stock [Member] | Series C Redeemable Convertible Preferred Stock [Member] | Series D Redeemable Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Other Comprehensive Income (loss) [Member] | Accumulated deficit [Member] | |
Beginning Balance at Sep. 30, 2017 | $ 9,141 | $ 25,900 | $ 36,726 | $ 127,866 | ||||||
Beginning Balance , shares at Sep. 30, 2017 | 2,817,723 | 3,315,645 | 2,491,483 | 6,034,089 | ||||||
Conversion of redeemable convertible preferred stock to common stock | $ 58,962 | |||||||||
Conversion of redeemable convertible preferred stock to common stock , shares | 2,786,100 | |||||||||
Ending Balance at Mar. 31, 2018 | $ 9,141 | $ 25,900 | $ 36,726 | $ 186,828 | ||||||
Ending Balance , shares at Mar. 31, 2018 | 2,817,723 | 3,315,645 | 2,491,483 | 8,820,189 | ||||||
Beginning Balance at Sep. 30, 2017 | $ (133,358) | $ 6,228 | $ 33 | $ (139,619) | ||||||
Beginning Balance , shares at Sep. 30, 2017 | 3,178,819 | |||||||||
Exercise of stock options | 154 | 154 | ||||||||
Exercise of stock options , shares | 53,092 | |||||||||
Repurchases of early exercised common stock options | 0 | $ 0 | 0 | 0 | 0 | |||||
Repurchases of early exercised common stock options , shares | (1,093) | |||||||||
Stock based compensation | 1,272 | 1,272 | ||||||||
Other comprehensive income (loss) | 21 | 21 | ||||||||
Net loss | (33,810) | [1] | (33,810) | |||||||
Ending Balance at Mar. 31, 2018 | (165,721) | 7,654 | 54 | (173,429) | ||||||
Ending Balance , shares at Mar. 31, 2018 | 3,230,818 | |||||||||
Beginning Balance at Dec. 31, 2017 | $ 9,141 | $ 25,900 | $ 36,726 | $ 130,856 | ||||||
Beginning Balance , shares at Dec. 31, 2017 | 2,817,723 | 3,315,645 | 2,491,483 | 6,175,301 | ||||||
Conversion of redeemable convertible preferred stock to common stock | $ 55,972 | |||||||||
Conversion of redeemable convertible preferred stock to common stock , shares | 2,644,888 | |||||||||
Ending Balance at Mar. 31, 2018 | $ 9,141 | $ 25,900 | $ 36,726 | $ 186,828 | ||||||
Ending Balance , shares at Mar. 31, 2018 | 2,817,723 | 3,315,645 | 2,491,483 | 8,820,189 | ||||||
Beginning Balance at Dec. 31, 2017 | (149,703) | 6,811 | 42 | (156,556) | ||||||
Beginning Balance , shares at Dec. 31, 2017 | 3,211,968 | |||||||||
Exercise of stock options | 107 | 107 | ||||||||
Exercise of stock options , shares | 19,186 | |||||||||
Repurchases of early exercised common stock options | 0 | $ 0 | 0 | 0 | 0 | |||||
Repurchases of early exercised common stock options , shares | (336) | |||||||||
Stock based compensation | 736 | 736 | ||||||||
Other comprehensive income (loss) | 12 | 12 | ||||||||
Net loss | (16,873) | (16,873) | ||||||||
Ending Balance at Mar. 31, 2018 | (165,721) | 7,654 | 54 | (173,429) | ||||||
Ending Balance , shares at Mar. 31, 2018 | 3,230,818 | |||||||||
Beginning Balance at Sep. 30, 2018 | 290,483 | $ 9,141 | $ 25,900 | $ 36,726 | $ 218,716 | |||||
Beginning Balance , shares at Sep. 30, 2018 | 2,817,723 | 3,315,645 | 2,491,483 | 10,326,454 | ||||||
Conversion of redeemable convertible preferred stock to common stock | $ 9,141 | $ 25,900 | $ 36,726 | $ 218,716 | ||||||
Conversion of redeemable convertible preferred stock to common stock , shares | 2,817,723 | 3,315,645 | 2,491,483 | 10,326,454 | ||||||
Ending Balance , shares at Mar. 31, 2019 | 0 | 0 | 0 | 0 | ||||||
Beginning Balance at Sep. 30, 2018 | (201,422) | 9,346 | $ 87 | $ (210,855) | ||||||
Beginning Balance , shares at Sep. 30, 2018 | 3,206,048 | |||||||||
Issuance of common stock in public offering | 69,597 | 69,597 | ||||||||
Issuance of common stock in public offering, shares | 5,750,000 | |||||||||
Exercise of stock options | $ 232 | 232 | ||||||||
Exercise of stock options , shares | 60,019 | 60,019 | ||||||||
Conversion of redeemable convertible preferred stock warrant liability to equity | $ 631 | $ 631 | ||||||||
Conversion of redeemable convertible preferred stock warrant liability to equity , shares | 0 | 0 | 0 | 0 | 0 | |||||
Conversion of redeemable convertible preferred stock to common stock | $ 290,462 | $ 290,462 | ||||||||
Conversion of redeemable convertible preferred stock to common stock , shares | 18,951,305 | |||||||||
Repurchases of early exercised common stock options | 0 | $ 0 | 0 | $ 0 | $ 0 | |||||
Repurchases of early exercised common stock options , shares | (442) | |||||||||
Stock based compensation | 4,775 | 4,775 | ||||||||
Net exercise of stock warrants | 57,122 | |||||||||
Other comprehensive income (loss) | (223) | (223) | ||||||||
Net loss | (48,572) | (48,572) | ||||||||
Ending Balance at Mar. 31, 2019 | 115,480 | 375,043 | (136) | (259,427) | ||||||
Ending Balance , shares at Mar. 31, 2019 | 28,024,052 | |||||||||
Ending Balance , shares at Mar. 31, 2019 | 0 | 0 | 0 | 0 | ||||||
Beginning Balance at Dec. 31, 2018 | 138,596 | 372,066 | 24 | (233,494) | ||||||
Beginning Balance , shares at Dec. 31, 2018 | 28,012,874 | |||||||||
Exercise of stock options | 66 | 66 | ||||||||
Exercise of stock options , shares | 11,178 | |||||||||
Stock based compensation | 2,911 | 2,911 | ||||||||
Other comprehensive income (loss) | (160) | (160) | ||||||||
Net loss | (25,933) | (25,933) | ||||||||
Ending Balance at Mar. 31, 2019 | $ 115,480 | $ 375,043 | $ (136) | $ (259,427) | ||||||
Ending Balance , shares at Mar. 31, 2019 | 28,024,052 | |||||||||
[1] | Adjusted to reflect the retrospective adoption of Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Net of underwriting discounts, commissions and offering expenses | $ 10,903 | ||
Series D Redeemable Convertible Preferred Stock [Member] | |||
Issuance of redeemable convertible preferred stock, net of financing cost | $ 217 | $ 227 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | |||
Cash flows from operating activities | ||||
Net loss | $ (48,572) | $ (33,810) | [1] | |
Adjustments to reconcile net loss to net cash used in operating activities | ||||
Depreciation and amortization | 3,035 | 2,701 | [1] | |
Loss on disposal of property and equipment | 8 | 36 | [1] | |
Stock-based compensation | 4,775 | 1,272 | [1] | |
Discount accretion on investment securities | (521) | |||
Non-cash interest expense | 125 | 87 | [1] | |
Change in fair value of redeemable convertible preferred stock warrant liability | [1] | 46 | ||
Amortization of debt discount | 152 | 153 | [1] | |
Changes in assets and liabilities: | ||||
Accounts receivable, net | (2,579) | (1,670) | [1] | |
Inventories | 1,579 | (1,287) | [1] | |
Prepaid expenses and other current assets | (731) | (492) | [1] | |
Other non-current assets | (191) | (259) | [1] | |
Accounts payable | (2,017) | 1,307 | [1] | |
Accrued expenses | 658 | 70 | [1] | |
Accrued payroll | 2,035 | (433) | [1] | |
Other liabilities | (253) | (247) | [1] | |
Net cash used in operating activities | (42,497) | (32,526) | [1] | |
Cash flows from investing activities | ||||
Purchases of property and equipment | (5,692) | (2,012) | [1] | |
Proceeds from sale of property and equipment | [1] | 8 | ||
Purchases of investments | (86,625) | (3,374) | [1] | |
Proceeds from maturity of investments | 11,400 | 27,700 | [1] | |
Net cash provided by (used in) investing activities | (80,917) | 22,322 | [1] | |
Cash flows from financing activities | ||||
Proceeds from issuance of common stock and exercise of stock options | 245 | 282 | [1] | |
Proceeds from initial public offering, net of underwriting discounts, commissions and offering expenses | 71,953 | |||
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs | [1] | 58,962 | ||
Payments of deferred offering costs | [1] | (1,835) | ||
Principal repayment on long term debt | (833) | |||
Net cash provided by financing activities | 71,365 | 57,409 | [1] | |
Net increase (decrease) in cash, cash equivalents, and restricted cash | (52,049) | 47,205 | [1] | |
Cash, cash equivalents, and restricted cash at beginning of period | 81,537 | 31,429 | [1] | |
Cash, cash equivalents, and restricted cash at end of period | 29,488 | 78,634 | [1] | |
Supplemental disclosure of cash flow information | ||||
Interest paid | 413 | 390 | [1] | |
Income taxes paid, net of refunds | 161 | 12 | [1] | |
Non-cash investing and financing activities | ||||
Property and equipment additions included in accounts payable and accrued expenses | 186 | 24 | [1] | |
Deferred offering costs included in accounts payable and accrued expenses | 20 | $ 40 | [1] | |
Conversion of redeemable convertible preferred stock warrant liability to equity | 631 | |||
Conversion of redeemable convertible preferred stock to common stock | $ 290,462 | |||
[1] | Adjusted to reflect the retrospective adoption of Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. |
The Company
The Company | 6 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company | 1. The Company Twist Bioscience Corporation (the Company) was incorporated in the state of Delaware on February 4, 2013. The Company is a synthetic biology company that has developed a disruptive DNA synthesis platform. The Company’s fiscal year ends on September 30. The Company has generated net losses in all periods since its inception. As of March 31, 2019, the Company had an accumulated deficit of $259.4 million and has not generated positive cash flows from operations since inception. Losses are expected to continue as the Company continues to invest in product development, manufacturing, and sales and marketing. The Company has raised multiple rounds of debt and equity financing since its inception. In October 2018, the Company completed an initial public offering (IPO) of its common stock which raised proceeds of $69.6 million, after deducting underwriting discounts, commissions and offering expenses. Management believes that these proceeds combined with existing cash and short-term investment balances on hand will be sufficient to fund operations for at least one year from the issuance of these unaudited condensed consolidated financial statements. However, there can be no assurance that additional financing will not be required or that the Company will be successful in raising additional capital on terms which are acceptable to the Company. If the Company requires but is unable to obtain additional funding, the Company could be forced to delay, reduce or eliminate some or all of its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations. |
Summary of significant accounti
Summary of significant accounting policies | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | 2. Summary of significant accounting policies Basis of presentation and use of estimates The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K Form 10-K) The presentation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s unaudited condensed consolidated financial statements include its wholly-owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation. Significant accounting policies There have been no material changes in the accounting policies from those disclosed in the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K. Reverse stock split In October 2018, the Company’s stockholders approved a one-for-0.101 Deferred offering costs Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to the Company’s IPO, are capitalized and will be offset against proceeds from the IPO within stockholders’ equity. As of September 30, 2018, there was $3.7 million of deferred offering costs within other non-current Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) In February 2016, the FASB issued new lease accounting guidance in ASU 2016-02, Leases right-of-use In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments zero-coupon 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash beginning-of-period end-of-period non-current (in thousands) September 30, March 31, Cash and cash equivalents $ 80,757 $ 28,693 Restricted cash, non-current 579 579 Restricted cash, current (within prepaid expenses and other current assets) 201 216 Total cash, cash equivalents and restricted cash $ 81,537 $ 29,488 Amounts included in restricted cash primarily related to security deposits and a letter of credit with a financial institution, both in connection with office space lease agreements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In May 2017, the FASB issued ASU 2017-09, Compensation Stock Compensation (Topic 718): Scope of Modification Accounting 2017-09, 2017-09 In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Subtopic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018-13 |
Fair value measurement
Fair value measurement | 6 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair value measurement | 3. Fair value measurement The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Company short-term investments primarily utilize broker quotes in a non-active Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and March 31, 2019 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value. September 30, 2018 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash and cash equivalents $ 46,823 $ — $ — $ 46,823 Money market funds 33,934 — — 33,934 Totals $ 80,757 $ — $ — $ 80,757 Liabilities Redeemable convertible preferred stock warrant liability $ — $ — $ 631 $ 631 March 31, 2019 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash and cash equivalents $ 14,384 $ — $ — $ 14,384 Money market funds 7,790 — — 7,790 Commercial paper — 32,330 — 32,330 U.S. government treasury bills 49,820 — — 49,820 Totals $ 71,994 $ 32,330 $ — $ 104,324 As of September 30, 2018 and March 31, 2019, gross unrealized gains and unrealized losses for cash equivalents and short-term investments were not material, and the contractual maturities of all marketable securities were less than one year. Redeemable convertible preferred stock warrants The following tables provide a reconciliation of the beginning and ending balances of the Level 3 instruments during the six months ended and March 31, 2018 and 2019: March 31, 2018 (in thousands) Series A Series B Series C Series D Total Fair value as of September 30, 2017 $ 331 $ 110 $ 152 $ 51 $ 644 Change in fair value recorded in other income (expense), net 32 14 (2 ) 2 46 Fair value as of March 31, 2018 $ 363 $ 124 $ 150 $ 53 $ 690 March 31, 2019 (in thousands) Series A Series B Series C Series D Total Fair value as of September 30, 2018 $ 365 $ 94 $ 130 $ 42 $ 631 Conversion of redeemable convertible preferred stock warrants to common stock warrants (365 ) (94 ) (130 ) (42 ) (631 ) Fair value as of March 31, 2019 $ — $ — $ — $ — $ — |
Inventories
Inventories | 6 Months Ended |
Mar. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories | 4. Inventories Inventory amounts consist of the following: (in thousands) September 30, March 31, Raw Materials $ 2,988 $ 3,508 Work-in-process 2,273 516 Finished Goods 767 425 $ 6,028 $ 4,449 |
Goodwill and intangible assets
Goodwill and intangible assets | 6 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and intangible assets | 5. Goodwill and intangible assets There were no changes to the carrying value of goodwill as of September 30, 2018 and March 31, 2019. Total amortization expense related to intangible assets was less than $0.1 million for each of the three and six months ended March 31, 2018 and 2019. The intangible assets balances are presented below: September 30, 2018 (in thousands, except for years) Useful Gross Accumulated Net book Developed Technology 6 $ 1,220 $ (508 ) $ 712 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (528 ) $ 712 March 31, 2019 (in thousands, except for years) Useful Gross Accumulated Net book Developed Technology 6 $ 1,220 $ (610 ) $ 610 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (630 ) $ 610 |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 6. Commitments and contingencies Litigation In February 2016, a complaint was filed in the Superior Court of the State of California (County of Santa Clara), dated February 3, 2016, on behalf of Agilent Technologies, Inc. (Agilent), against the Company and its CEO. Agilent’s complaint alleges three claims (1) alleged breach of contract, related to the use of confidential information and alleged breach of non-solicitation On January 29, 2019, the Company and its CEO filed a demurrer and motion to strike Agilent’s second amended complaint, challenging each of Agilent’s claims. The hearing on the demurrer and motion to strike is currently set for May 3, 2019. Also, on January 29, 2019, the Company and its CEO filed a cross-complaint, asserting six counterclaims against Agilent and Does 1-10 On March 4, 2019, Agilent filed a demurrer and motion to strike challenging all six claims alleged in the Company and its CEO’s cross-complaint filed on January 29, 2019. The Company and the CEO are opposing Agilent’s motions. The hearing on the demurrer and motion to strike is currently set for May 3, 2019. The Company believes that Agilent’s complaint is without merit, and intends to continue vigorously defending itself. The Company is currently unable to predict the ultimate outcome of this matter or estimate a reasonably possible loss or range of loss, and no amounts have been accrued in the condensed consolidated financial statements. Indemnifications In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend the indemnified parties for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third-party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. To date, the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. The Company has also entered into indemnification agreements with its directors and officers that may require it to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by corporate law. The Company also has directors’ and officers’ insurance. |
Related party transactions
Related party transactions | 6 Months Ended |
Mar. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related party transactions | 7. Related party transactions During the three months ended March 31, 2018 and 2019, the Company purchased raw materials from a related party investor in the amount of $0.7 million and $0.9 million, respectively. During the six months ended March 31, 2018 and 2019, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $2.1 million, respectively. Payable balances and cash receipts and receivable balances with the related party were immaterial as of September 30, 2018 and March 31, 2019. |
Income taxes
Income taxes | 6 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income taxes | 8. Income taxes In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date |
Warrants
Warrants | 6 Months Ended |
Mar. 31, 2019 | |
Text Block [Abstract] | |
Warrants | 9. Warrants In connection with its long-term debt agreements, the Company issued warrants for its redeemable convertible preferred stock and common stock as follows: (in thousands, except share and per share data) Number of Fair Warrant class/series: September 30, 2018 Issuance date Expiration date Exercise price Series A 36,838 $ 365 October 8, 2013 October 8, 2023 $ 3.26 Series B 16,221 94 September 2, 2014 September 2, 2024 $ 7.84 Series C 18,854 130 December 22, 2015 December 22, 2025 $ 14.85 Series D 7,531 42 March 28, 2016 March 28, 2026 $ 21.24 Total preferred stock warrants 79,444 $ 631 Common stock warrants 64,127 $ 486 September 6, 2017 September 6, 2027 $ 6.24 (in thousands, except share and per share data) Number of Warrant class/series: March 31, Issuance date Expiration date Exercise price Common stock warrants 16,221 September 2, 2014 September 2, 2024 $ 7.84 Common stock warrants 18,854 December 22, 2015 December 22, 2025 $ 14.85 Common stock warrants 7,531 March 28, 2016 March 28, 2026 $ 21.24 Common stock warrants 32,064 September 6, 2017 September 6, 2027 $ 6.24 Total common stock warrants 74,670 In October 2018, each warrant to purchase redeemable convertible preferred stock was converted to a warrant to purchase common stock immediately prior to the completion of the IPO. In November 2018, a total of 68,901 warrants were net exercised; 36,838 warrants with an exercise price of $3.26 per common share and 32,063 warrants with an exercise price of $6.24 per common share. The transactions were a cashless exercise for a net 57,122 of common shares issued by the Company. |
Redeemable convertible preferre
Redeemable convertible preferred stock | 6 Months Ended |
Mar. 31, 2019 | |
Text Block [Abstract] | |
Redeemable convertible preferred stock | 10. Redeemable convertible preferred stock In October 2018, each share of Series A, Series B, Series C, and Series D redeemable convertible preferred stock was converted into common stock immediately prior to the completion of the IPO. |
Stock-based compensation
Stock-based compensation | 6 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based compensation | 11. Stock-based compensation 2018 Equity Incentive Plan On September 26, 2018, the board of directors adopted the 2018 Equity Incentive Plan (the 2018 Plan) as a successor to the 2013 Stock Plan (the 2013 Plan). The maximum aggregate number of shares that may be issued under the 2018 Plan is 5,856,505 shares of the Company’s common stock. The number of shares reserved for issuance under the 2018 Plan will be increased automatically on the first day of each fiscal year, following the fiscal year in which the 2018 Plan became effective, by a number equal to the least of 999,900 shares, 4% of the shares of common stock outstanding at that time, or such number of shares determined by the Company’s board of directors. The common shares issuable under the 2018 Plan were registered pursuant to a registration statement on Form S-8 Any shares subject to outstanding awards under the 2013 Equity Incentive Plan that are canceled or repurchased subsequent to the 2018 Plan’s effective date are returned to the pool of shares reserved for issuance under the 2018 Plan. Awards granted under the 2018 Plan may be nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and performance units. 2018 Employee Stock Purchase Plan On September 26, 2018, the board of directors adopted the 2018 Employee Stock Purchase Plan (the 2018 ESPP). A total of 275,225 shares of the Company’s common stock have been reserved for issuance under the 2018 ESPP. The number of shares reserved for issuance under the 2018 ESPP will be increased automatically on the first day of each fiscal year, following the fiscal year in which the 2018 ESPP becomes effective, by a number equal to the least of 249,470 shares, 1% of the shares of common stock outstanding at that time, or such number of shares determined by the Company’s board of directors. Subject to any plan limitations, the 2018 ESPP allows eligible service providers (through qualified and non-qualified S-8 Unless otherwise determined by the board of directors, the Company’s common stock will be purchased for the accounts of employees participating in the 2018 ESPP at a price per share that is the lesser of 85% of the fair market value of the Company’s common stock on the first trading day of the offering period, which for the initial offering period is the price at which shares of the Company’s common stock were first sold to the public, or 85% of the fair market value of the Company’s common stock on the last trading day of the offering period. During the six months ended March 31, 2019, activity under the 2018 ESPP was immaterial. Activity under the equity incentive plans during the six months ended March 31, 2019 is summarized below: (in thousands, except share and per share data) Shares Options Weighted Weighted Aggregate Outstanding at September 30, 2018 860,287 2,520,485 $ 8.22 8.38 $ 11,483 Additional shares authorized 2,494,700 — Stock options granted (1,511,842 ) 1,511,842 24.67 Stock options exercised — (60,019 ) 4.13 Stock options forfeited 39,839 (39,839 ) 12.04 Restricted stock units granted (486,080 ) — — Forfeiture of restricted stock units 220 — — Early exercised options repurchased 442 — — Outstanding at March 31, 2019 1,397,566 3,932,469 $ 14.58 9.57 $ 37,088 Vested or expected to vest and exercisable at March 31, 2019 3,932,469 $ 14.58 9.57 $ 37,088 Total stock-based compensation expense recognized was as follows: Three months ended Six months ended (in thousands) 2018 2019 2018 2019 Cost of revenues $ 98 $ 457 $ 175 $ 708 Research and development 268 421 412 721 Selling, general and administrative 370 2,033 685 3,346 Total stock-based compensation $ 736 $ 2,911 $ 1,272 $ 4,775 As of March 31, 2019, there was $35.0 million of total unrecognized compensation cost related to non-vested Restricted Stock Units Restricted stock primarily consists of restricted stock unit awards (RSUs) which have been granted to employees. The value of an RSU award is based on the Company’s stock price on the date of grant. The shares underlying the RSU awards are not issued until the RSUs vest. Upon vesting, each RSU converts into one share of the Company’s common stock. Activity with respect to the Company’s restricted stock units during the six months ended March 31, 2019 was as follows: (in thousands, except share and per share data) Number Shares Weighted Weighted Aggregate Outstanding at September 30, 2018 — $ — — $ — Restricted stock units granted 486,080 25.94 — — Restricted stock units vested — — — — Restricted stock units forfeited (220 ) 22.59 — — Outstanding at March 31, 2019 485,860 $ 25.94 4.50 $ 11,262 Expected to vest at March 31, 2019: 485,860 $ 25.94 4.50 $ 11,262 As of March 31, 2019, there was $11.8 million of total unrecognized compensation cost related to these issuances that is expected to be recognized over a weighted average period of 4.5 years. |
Net loss per share attributable
Net loss per share attributable to common stockholders | 6 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net loss per share attributable to common stockholders | 12. Net loss per share attributable to common stockholders The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders: Three months ended Six months ended (in thousands, except share and per share data) 2018 2019 2018 2019 Numerator: Net loss attributable to common stockholders $ (16,873 ) $ (25,933 ) $ (33,810 ) $ (48,572 ) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 2,669,541 27,891,700 2,653,805 23,539,617 Net loss per share attributable to common stockholders, basic and diluted $ (6.32 ) $ (0.93 ) $ (12.74 ) $ (2.06 ) The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows: Three and six months ended (in thousands, except share and per share data) 2018 2019 Shares subject to options to purchase common stock 1,932,140 3,932,469 Unvested restricted shares of common stock 473,745 66,197 Unvested restricted stock units of common stock — 485,860 Unvested shares of common stock issued upon early exercise of stock options 58,290 51,619 Shares subject to warrants to purchase common stock 64,127 74,670 Shares subject to warrants to purchase redeemable convertible preferred stock 79,444 — Shares of redeemable convertible preferred stock 17,445,040 — Total 20,052,786 4,610,815 |
Geographic, product and industr
Geographic, product and industry information | 6 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Geographic, product and industry information | 13. Geographic, product and industry information The table below sets forth revenues by geographic region, based on ship-to Three months ended Six months ended (in thousands) 2018 2019 2018 2019 United States $ 4,414 $ 9,313 $ 7,424 $ 17,882 EMEA 1,390 3,314 2,492 5,749 APAC 321 719 472 1,139 Americas 41 211 91 279 Total $ 6,166 $ 13,557 $ 10,479 $ 25,049 The table below sets forth revenues by product. Three months ended Six months ended (in thousands) 2018 2019 2018 2019 Synthetic genes $ 4,550 $ 6,098 $ 7,666 $ 12,609 Oligo pools 608 1,256 1,336 2,066 DNA libraries 377 663 685 1,076 Three months ended Six months ended (in thousands) 2018 2019 2018 2019 NGS tools 631 5,540 792 9,298 Total $ 6,166 $ 13,557 $ 10,479 $ 25,049 The table below sets forth revenues by industry. Three months ended Six months ended (in thousands) 2018 2019 2018 2019 Industrial chemicals $ 3,656 $ 5,387 $ 6,334 $ 10,733 Academic research 1,288 2,737 2,252 4,709 Healthcare 1,148 5,140 1,716 9,121 Agricultural 74 293 177 486 Total $ 6,166 $ 13,557 $ 10,479 $ 25,049 Long-lived assets located in the United States were $14.4 million as of March 31, 2019. Long-lived assets located outside of the United States were $0.5 million as of March 31, 2019. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of presentation and use of estimates | Basis of presentation and use of estimates The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K Form 10-K) The presentation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s unaudited condensed consolidated financial statements include its wholly-owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation. |
Significant accounting policies | Significant accounting policies There have been no material changes in the accounting policies from those disclosed in the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K. |
Reverse stock split | Reverse stock split In October 2018, the Company’s stockholders approved a one-for-0.101 |
Deferred offering costs | Deferred offering costs Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to the Company’s IPO, are capitalized and will be offset against proceeds from the IPO within stockholders’ equity. As of September 30, 2018, there was $3.7 million of deferred offering costs within other non-current |
Recent accounting pronouncements | Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) In February 2016, the FASB issued new lease accounting guidance in ASU 2016-02, Leases right-of-use In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments zero-coupon 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash beginning-of-period end-of-period non-current (in thousands) September 30, March 31, Cash and cash equivalents $ 80,757 $ 28,693 Restricted cash, non-current 579 579 Restricted cash, current (within prepaid expenses and other current assets) 201 216 Total cash, cash equivalents and restricted cash $ 81,537 $ 29,488 Amounts included in restricted cash primarily related to security deposits and a letter of credit with a financial institution, both in connection with office space lease agreements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In May 2017, the FASB issued ASU 2017-09, Compensation Stock Compensation (Topic 718): Scope of Modification Accounting 2017-09, 2017-09 In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Subtopic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018-13 |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Cash, Cash Equivalents and Restricted Cash | The following table provides a reconciliation of the Company’s cash and cash equivalents, current portion of restricted cash and non-current (in thousands) September 30, March 31, Cash and cash equivalents $ 80,757 $ 28,693 Restricted cash, non-current 579 579 Restricted cash, current (within prepaid expenses and other current assets) 201 216 Total cash, cash equivalents and restricted cash $ 81,537 $ 29,488 |
Fair value measurement (Tables)
Fair value measurement (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and March 31, 2019 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value. September 30, 2018 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash and cash equivalents $ 46,823 $ — $ — $ 46,823 Money market funds 33,934 — — 33,934 Totals $ 80,757 $ — $ — $ 80,757 Liabilities Redeemable convertible preferred stock warrant liability $ — $ — $ 631 $ 631 March 31, 2019 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash and cash equivalents $ 14,384 $ — $ — $ 14,384 Money market funds 7,790 — — 7,790 Commercial paper — 32,330 — 32,330 U.S. government treasury bills 49,820 — — 49,820 Totals $ 71,994 $ 32,330 $ — $ 104,324 |
Summary of Reconciliation of Beginning and Ending Balances of the Level 3 Instruments | The following tables provide a reconciliation of the beginning and ending balances of the Level 3 instruments during the six months ended and March 31, 2018 and 2019: March 31, 2018 (in thousands) Series A Series B Series C Series D Total Fair value as of September 30, 2017 $ 331 $ 110 $ 152 $ 51 $ 644 Change in fair value recorded in other income (expense), net 32 14 (2 ) 2 46 Fair value as of March 31, 2018 $ 363 $ 124 $ 150 $ 53 $ 690 March 31, 2019 (in thousands) Series A Series B Series C Series D Total Fair value as of September 30, 2018 $ 365 $ 94 $ 130 $ 42 $ 631 Conversion of redeemable convertible preferred stock warrants to common stock warrants (365 ) (94 ) (130 ) (42 ) (631 ) Fair value as of March 31, 2019 $ — $ — $ — $ — $ — |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Summary of Inventory | Inventory amounts consist of the following: (in thousands) September 30, March 31, Raw Materials $ 2,988 $ 3,508 Work-in-process 2,273 516 Finished Goods 767 425 $ 6,028 $ 4,449 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Intangible Assets Balances | The intangible assets balances are presented below: September 30, 2018 (in thousands, except for years) Useful Gross Accumulated Net book Developed Technology 6 $ 1,220 $ (508 ) $ 712 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (528 ) $ 712 March 31, 2019 (in thousands, except for years) Useful Gross Accumulated Net book Developed Technology 6 $ 1,220 $ (610 ) $ 610 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (630 ) $ 610 |
Warrants (Tables)
Warrants (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Text Block [Abstract] | |
Summary of Issued Warrants for Its Redeemable Convertible Preferred Stock and Common Stock | In connection with its long-term debt agreements, the Company issued warrants for its redeemable convertible preferred stock and common stock as follows: (in thousands, except share and per share data) Number of Fair Warrant class/series: September 30, 2018 Issuance date Expiration date Exercise price Series A 36,838 $ 365 October 8, 2013 October 8, 2023 $ 3.26 Series B 16,221 94 September 2, 2014 September 2, 2024 $ 7.84 Series C 18,854 130 December 22, 2015 December 22, 2025 $ 14.85 Series D 7,531 42 March 28, 2016 March 28, 2026 $ 21.24 Total preferred stock warrants 79,444 $ 631 Common stock warrants 64,127 $ 486 September 6, 2017 September 6, 2027 $ 6.24 (in thousands, except share and per share data) Number of Warrant class/series: March 31, Issuance date Expiration date Exercise price Common stock warrants 16,221 September 2, 2014 September 2, 2024 $ 7.84 Common stock warrants 18,854 December 22, 2015 December 22, 2025 $ 14.85 Common stock warrants 7,531 March 28, 2016 March 28, 2026 $ 21.24 Common stock warrants 32,064 September 6, 2017 September 6, 2027 $ 6.24 Total common stock warrants 74,670 |
Stock-based compensation (Table
Stock-based compensation (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Activity Under The Equity Incentive Plans | Activity under the equity incentive plans during the six months ended March 31, 2019 is summarized below: (in thousands, except share and per share data) Shares Options Weighted Weighted Aggregate Outstanding at September 30, 2018 860,287 2,520,485 $ 8.22 8.38 $ 11,483 Additional shares authorized 2,494,700 — Stock options granted (1,511,842 ) 1,511,842 24.67 Stock options exercised — (60,019 ) 4.13 Stock options forfeited 39,839 (39,839 ) 12.04 Restricted stock units granted (486,080 ) — — Forfeiture of restricted stock units 220 — — Early exercised options repurchased 442 — — Outstanding at March 31, 2019 1,397,566 3,932,469 $ 14.58 9.57 $ 37,088 Vested or expected to vest and exercisable at March 31, 2019 3,932,469 $ 14.58 9.57 $ 37,088 |
Total Stock-based Compensation Expense | Total stock-based compensation expense recognized was as follows: Three months ended Six months ended (in thousands) 2018 2019 2018 2019 Cost of revenues $ 98 $ 457 $ 175 $ 708 Research and development 268 421 412 721 Selling, general and administrative 370 2,033 685 3,346 Total stock-based compensation $ 736 $ 2,911 $ 1,272 $ 4,775 |
Schedule of Nonvested Restricted Stock Units Activity | Activity with respect to the Company’s restricted stock units during the six months ended March 31, 2019 was as follows: (in thousands, except share and per share data) Number Shares Weighted Weighted Aggregate Outstanding at September 30, 2018 — $ — — $ — Restricted stock units granted 486,080 25.94 — — Restricted stock units vested — — — — Restricted stock units forfeited (220 ) 22.59 — — Outstanding at March 31, 2019 485,860 $ 25.94 4.50 $ 11,262 Expected to vest at March 31, 2019: 485,860 $ 25.94 4.50 $ 11,262 |
Net loss per share attributab_2
Net loss per share attributable to common stockholders (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Computation of the Company's Basic and Diluted Net Loss Per Share Attributable to Common Stockholders | The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders: Three months ended Six months ended (in thousands, except share and per share data) 2018 2019 2018 2019 Numerator: Net loss attributable to common stockholders $ (16,873 ) $ (25,933 ) $ (33,810 ) $ (48,572 ) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 2,669,541 27,891,700 2,653,805 23,539,617 Net loss per share attributable to common stockholders, basic and diluted $ (6.32 ) $ (0.93 ) $ (12.74 ) $ (2.06 ) |
Summary of Calculation of Diluted Net Loss Per Share | The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows: Three and six months ended (in thousands, except share and per share data) 2018 2019 Shares subject to options to purchase common stock 1,932,140 3,932,469 Unvested restricted shares of common stock 473,745 66,197 Unvested restricted stock units of common stock — 485,860 Unvested shares of common stock issued upon early exercise of stock options 58,290 51,619 Shares subject to warrants to purchase common stock 64,127 74,670 Shares subject to warrants to purchase redeemable convertible preferred stock 79,444 — Shares of redeemable convertible preferred stock 17,445,040 — Total 20,052,786 4,610,815 |
Geographic, product and indus_2
Geographic, product and industry information (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Summary of Revenue by Geographic Region | The table below sets forth revenues by geographic region, based on ship-to Three months ended Six months ended (in thousands) 2018 2019 2018 2019 United States $ 4,414 $ 9,313 $ 7,424 $ 17,882 EMEA 1,390 3,314 2,492 5,749 APAC 321 719 472 1,139 Americas 41 211 91 279 Total $ 6,166 $ 13,557 $ 10,479 $ 25,049 |
Summary of Revenue by Product | The table below sets forth revenues by product. Three months ended Six months ended (in thousands) 2018 2019 2018 2019 Synthetic genes $ 4,550 $ 6,098 $ 7,666 $ 12,609 Oligo pools 608 1,256 1,336 2,066 DNA libraries 377 663 685 1,076 Three months ended Six months ended (in thousands) 2018 2019 2018 2019 NGS tools 631 5,540 792 9,298 Total $ 6,166 $ 13,557 $ 10,479 $ 25,049 |
Summary of Revenue by Industry | The table below sets forth revenues by industry. Three months ended Six months ended (in thousands) 2018 2019 2018 2019 Industrial chemicals $ 3,656 $ 5,387 $ 6,334 $ 10,733 Academic research 1,288 2,737 2,252 4,709 Healthcare 1,148 5,140 1,716 9,121 Agricultural 74 293 177 486 Total $ 6,166 $ 13,557 $ 10,479 $ 25,049 |
The Company - Additional Inform
The Company - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | ||
Oct. 31, 2018 | Mar. 31, 2019 | Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ (259,427) | $ (210,855) | |
Initial public offering (IPO) of common stock | $ 69,600 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions | 1 Months Ended | 6 Months Ended | |
Oct. 31, 2018 | Mar. 31, 2019USD ($) | Sep. 30, 2018USD ($) | |
Accounting Policies [Abstract] | |||
Reverse stock split description | One-for-0.101 | ||
Reverse stock split ratio | 0.101 | ||
Deferred offering costs included in non-current assets | $ 3.7 | ||
Additional deferred offering costs incurred | $ 1.6 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 | [1] | Sep. 30, 2017 | [1] |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||||||
Cash and cash equivalents | $ 28,693 | $ 80,757 | ||||
Restricted cash, non-current | 579 | 579 | ||||
Restricted cash, current (within prepaid expenses and other current assets) | 216 | 201 | ||||
Total cash, cash equivalents and restricted cash | $ 29,488 | $ 81,537 | $ 78,634 | $ 31,429 | ||
[1] | Adjusted to reflect the retrospective adoption of Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. |
Fair Value Measurement - Summar
Fair Value Measurement - Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Assets | ||
Assets, Totals | $ 104,324 | $ 80,757 |
Commercial Paper [Member] | ||
Assets | ||
Assets, Totals | 32,330 | |
US Government Treasury Bills [Member] | ||
Assets | ||
Assets, Totals | 49,820 | |
Redeemable Convertible Preferred Stock Warrant Liability [Member] | ||
Liabilities | ||
Redeemable convertible preferred stock warrant liability | 631 | |
Cash and Cash Equivalents [Member] | ||
Assets | ||
Assets, Totals | 14,384 | 46,823 |
Money Market Funds [Member] | ||
Assets | ||
Assets, Totals | 7,790 | 33,934 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Assets, Totals | 71,994 | 80,757 |
Fair Value, Inputs, Level 1 [Member] | US Government Treasury Bills [Member] | ||
Assets | ||
Assets, Totals | 49,820 | |
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ||
Assets | ||
Assets, Totals | 14,384 | 46,823 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Assets | ||
Assets, Totals | 7,790 | 33,934 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Assets, Totals | 32,330 | |
Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | ||
Assets | ||
Assets, Totals | $ 32,330 | |
Fair Value, Inputs, Level 3 [Member] | Redeemable Convertible Preferred Stock Warrant Liability [Member] | ||
Liabilities | ||
Redeemable convertible preferred stock warrant liability | $ 631 |
Fair Value Measurement - Summ_2
Fair Value Measurement - Summary of Reconciliation of Beginning and Ending Balances of the Level 3 Instruments (Detail) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, beginning balance | $ 631 | $ 644 |
Conversion of redeemable convertible preferred stock warrants to common stock warrants | (631) | |
Change in fair value recorded in other income (expense), net | 46 | |
Fair value, ending balance | 690 | |
Series A Redeemable Convertible Preferred Stock [Member] | ||
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, beginning balance | 365 | 331 |
Conversion of redeemable convertible preferred stock warrants to common stock warrants | (365) | |
Change in fair value recorded in other income (expense), net | 32 | |
Fair value, ending balance | 363 | |
Series B Redeemable Convertible Preferred Stock [Member] | ||
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, beginning balance | 94 | 110 |
Conversion of redeemable convertible preferred stock warrants to common stock warrants | (94) | |
Change in fair value recorded in other income (expense), net | 14 | |
Fair value, ending balance | 124 | |
Series C Redeemable Convertible Preferred Stock [Member] | ||
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, beginning balance | 130 | 152 |
Conversion of redeemable convertible preferred stock warrants to common stock warrants | (130) | |
Change in fair value recorded in other income (expense), net | (2) | |
Fair value, ending balance | 150 | |
Series D Redeemable Convertible Preferred Stock [Member] | ||
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, beginning balance | 42 | 51 |
Conversion of redeemable convertible preferred stock warrants to common stock warrants | $ (42) | |
Change in fair value recorded in other income (expense), net | 2 | |
Fair value, ending balance | $ 53 |
Inventories - Summary of Invent
Inventories - Summary of Inventory (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Inventory, Net [Abstract] | ||
Raw Materials | $ 3,508 | $ 2,988 |
Work-in-process | 516 | 2,273 |
Finished Goods | 425 | 767 |
Total inventories | $ 4,449 | $ 6,028 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | |
Goodwill And Intangible Assets [Line Items] | |||||
Changes in carrying value of goodwill | $ 0 | $ 0 | |||
Maximum [Member] | |||||
Goodwill And Intangible Assets [Line Items] | |||||
Total amortization expense related to intangible assets | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Summary of Intangible Assets Balances (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Sep. 30, 2018 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 1,240 | $ 1,240 |
Accumulated amortization | (630) | (528) |
Net book value | $ 610 | $ 712 |
Developed Technology [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life in years | 6 years | 6 years |
Gross carrying amount | $ 1,220 | $ 1,220 |
Accumulated amortization | (610) | (508) |
Net book value | $ 610 | $ 712 |
Tradenames & Trademarks [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life in years | 2 years | 2 years |
Gross carrying amount | $ 20 | $ 20 |
Accumulated amortization | $ (20) | $ (20) |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Related Party Transactions [Abstract] | ||||
Raw materials purchased from related party investor | $ 0.9 | $ 0.7 | $ 2.1 | $ 1.1 |
Description of related party transactions | During the three months ended March 31, 2018 and 2019, the Company purchased raw materials from a related party investor in the amount of $0.7 million and $0.9 million, respectively. During the six months ended March 31, 2018 and 2019, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $2.1 million, respectively. Payable balances and cash receipts and receivable balances with the related party were immaterial as of September 30, 2018 and March 31, 2019. |
Warrants - Summary of Issued Wa
Warrants - Summary of Issued Warrants for Its Redeemable Convertible Preferred Stock and Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | Nov. 30, 2018 | ||
Class of Warrant or Right [Line Items] | |||||
Fair Value | [1] | $ 46 | |||
Warrants One [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 36,838 | ||||
Exercise price per share | $ 3.26 | ||||
Warrants Two [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 32,063 | ||||
Exercise price per share | $ 6.24 | ||||
Series A Redeemable Convertible Preferred Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 36,838 | ||||
Fair Value | $ 365 | ||||
Issuance date | Oct. 8, 2013 | ||||
Expiration date | Oct. 8, 2023 | ||||
Exercise price per share | $ 3.26 | ||||
Series B Redeemable Convertible Preferred Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 16,221 | ||||
Fair Value | $ 94 | ||||
Issuance date | Sep. 2, 2014 | ||||
Expiration date | Sep. 2, 2024 | ||||
Exercise price per share | $ 7.84 | ||||
Series C Redeemable Convertible Preferred Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 18,854 | ||||
Fair Value | $ 130 | ||||
Issuance date | Dec. 22, 2015 | ||||
Expiration date | Dec. 22, 2025 | ||||
Exercise price per share | $ 14.85 | ||||
Series D Redeemable Convertible Preferred Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 7,531 | ||||
Fair Value | $ 42 | ||||
Issuance date | Mar. 28, 2016 | ||||
Expiration date | Mar. 28, 2026 | ||||
Exercise price per share | $ 21.24 | ||||
Redeemable Convertible Preferred Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 79,444 | ||||
Fair Value | $ 631 | ||||
Common Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 74,670 | 64,127 | |||
Fair Value | $ 486 | ||||
Issuance date | Sep. 6, 2017 | ||||
Expiration date | Sep. 6, 2027 | ||||
Exercise price per share | $ 6.24 | ||||
Common Stock [Member] | Warrants One [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 16,221 | ||||
Issuance date | Sep. 2, 2014 | ||||
Expiration date | Sep. 2, 2024 | ||||
Exercise price per share | $ 7.84 | ||||
Common Stock [Member] | Warrants Two [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 18,854 | ||||
Issuance date | Dec. 22, 2015 | ||||
Expiration date | Dec. 22, 2025 | ||||
Exercise price per share | $ 14.85 | ||||
Common Stock [Member] | Warrants Three [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 7,531 | ||||
Issuance date | Mar. 28, 2016 | ||||
Expiration date | Mar. 28, 2026 | ||||
Exercise price per share | $ 21.24 | ||||
Common Stock [Member] | Warrants Four [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Number of shares underlying warrants | 32,064 | ||||
Issuance date | Sep. 6, 2017 | ||||
Expiration date | Sep. 6, 2027 | ||||
Exercise price per share | $ 6.24 | ||||
[1] | Adjusted to reflect the retrospective adoption of Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. |
Warrants - Additional Informati
Warrants - Additional Information (Detail) | 1 Months Ended |
Nov. 30, 2018$ / sharesshares | |
Class of Warrant or Right [Line Items] | |
Net exercise of stock warrants | 68,901 |
Common stock issued for cashless exercise | 57,122 |
Warrants One [Member] | |
Class of Warrant or Right [Line Items] | |
Number of shares underlying warrants | 36,838 |
Exercise price per share | $ / shares | $ 3.26 |
Warrants Two [Member] | |
Class of Warrant or Right [Line Items] | |
Number of shares underlying warrants | 32,063 |
Exercise price per share | $ / shares | $ 6.24 |
Stock-based Compensation - Addi
Stock-based Compensation - Additional Information (Detail) - USD ($) $ in Millions | Sep. 26, 2018 | Mar. 31, 2019 | Sep. 30, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Aggregate number of common stock shares issued | 100,000,000 | 27,775,000 | |
Unrecognized compensation cost, stock options | $ 35 | ||
Unrecognized stock-based compensation expense, period for recognition | 3 years 10 months 24 days | ||
2018 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Minimum annual increase in share reserved for issuance | 999,900 | ||
Annual automatic Increase in share reserved for issuance | 4.00% | ||
2018 Equity Incentive Plan [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Aggregate number of common stock shares issued | 5,856,505 | ||
2018 ESPP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Minimum annual increase in share reserved for issuance | 249,470 | ||
Annual automatic Increase in share reserved for issuance | 1.00% | ||
Aggregate number of common stock shares issued | 275,225 | ||
2018 ESPP [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of payroll deduction to purchase common stock | 15.00% | ||
2015 ESPP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
ESPP eligible employee common stock purchase price ratio | 85.00% | ||
Restricted Stock Units (RSUs) [Member] | 2018 ESPP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost, stock options | $ 11.8 | ||
Unrecognized stock-based compensation expense, period for recognition | 4 years 6 months |
Stock-based compensation - Acti
Stock-based compensation - Activity Under The Equity Incentive Plans (Detail) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($)$ / sharesshares | Sep. 30, 2018USD ($)$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares available, Outstanding Beginning Balance | 860,287 | |
Shares available, Additional shares authorized | 2,494,700 | |
Shares available, Stock options granted | (1,511,842) | |
Shares available, Stock options forfeited | 39,839 | |
Shares available, Restricted stock units granted | (486,080) | |
Shares available, Forfeiture of restricted stock units | 220 | |
Shares available, Early exercised options repurchased | 442 | |
Shares available, Outstanding Ending Balance | 1,397,566 | 860,287 |
Number of options, Outstanding beginning balance | 2,520,485 | |
Options outstanding, Stock options granted | 1,511,842 | |
Options outstanding, Stock options exercised | (60,019) | |
Options outstanding, Stock options forfeited | (39,839) | |
Number of options, Outstanding ending balance | 3,932,469 | 2,520,485 |
Vested or expected to vest and exercisable | 3,932,469 | |
Weighted average exercise price per share, Outstanding Beginning Balance | $ / shares | $ 8.22 | |
Weighted average exercise price per share, Stock options granted | $ / shares | 24.67 | |
Weighted average exercise price per share, Stock options exercised | $ / shares | 4.13 | |
Weighted average exercise price per share, Stock options forfeited | $ / shares | 12.04 | |
Weighted average exercise price per share, Outstanding Ending Balance | $ / shares | 14.58 | $ 8.22 |
Weighted average exercise price per share, Vested or expected to vest and exercisable | $ / shares | $ 14.58 | |
Weighted average remaining contractual term, Outstanding | 9 years 6 months 25 days | 8 years 4 months 17 days |
Weighted average remaining contractual term, Vested or expected to vest and exercisable | 9 years 6 months 25 days | |
Aggregate intrinsic value, Outstanding | $ | $ 37,088 | $ 11,483 |
Aggregate intrinsic value, Outstanding Vested or expected to vest and exercisable | $ | $ 37,088 |
Stock-based compensation - Tota
Stock-based compensation - Total Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation expense | $ 2,911 | $ 736 | $ 4,775 | $ 1,272 |
Cost of Revenues [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation expense | 457 | 98 | 708 | 175 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation expense | 421 | 268 | 721 | 412 |
Selling, General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation expense | $ 2,033 | $ 370 | $ 3,346 | $ 685 |
Stock-based Compensation - Sche
Stock-based Compensation - Schedule of Nonvested Restricted Stock Units Activity (Detail) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, $ in Thousands | 6 Months Ended |
Mar. 31, 2019USD ($)$ / sharesshares | |
Nonvested Restricted Stock Units Activity [Line Items] | |
Number of shares, Outstanding Beginning Balance | shares | 0 |
Number of shares, granted | shares | 486,080 |
Number of shares, vested | shares | 0 |
Number of shares, forfeited | shares | (220) |
Expected to vest, Outstanding | shares | 485,860 |
Weighted average grant date fair value price per share, Outstanding Beginning Balance | $ / shares | $ 0 |
Weighted average grant date fair value price per share, granted | $ / shares | 25.94 |
Weighted average grant date fair value price per share, vested | $ / shares | 0 |
Weighted average grant date fair value price per share, forfeited | $ / shares | 22.59 |
Weighted average grant date fair value price per share, Outstanding | $ / shares | $ 25.94 |
Weighted average remaining contractual term, Expected to vest | 4 years 6 months |
Aggregate intrinsic value, Outstanding | $ | $ 11,262 |
Aggregate intrinsic value, Expected to vest | $ | $ 11,262 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders - Computation of the Company's Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Numerator: | ||||
Net loss attributable to common stockholders | $ (25,933) | $ (16,873) | $ (48,572) | $ (33,810) |
Denominator: | ||||
Weighted average shares used in computing net loss per share, basic and diluted | 27,891,700 | 2,669,541 | 23,539,617 | 2,653,805 |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.93) | $ (6.32) | $ (2.06) | $ (12.74) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Summary of Calculation of Diluted Net Loss Per Share (Detail) - shares | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 4,610,815 | 20,052,786 |
Redeemable Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 17,445,040 | |
Options To Purchase Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 3,932,469 | 1,932,140 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 66,197 | 473,745 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 485,860 | |
Early Exercise Of Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 51,619 | 58,290 |
Warrants To Purchase Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 74,670 | 64,127 |
Warrants to Purchase Redeemable Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 79,444 |
Geographic, Product and Indus_3
Geographic, Product and Industry Information - Summary of Revenue by Geographic Region (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 13,557 | $ 6,166 | $ 25,049 | $ 10,479 |
United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 9,313 | 4,414 | 17,882 | 7,424 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,314 | 1,390 | 5,749 | 2,492 |
Asia Pacific [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 719 | 321 | 1,139 | 472 |
Americas [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 211 | $ 41 | $ 279 | $ 91 |
Geographic, Product and Indus_4
Geographic, Product and Industry Information - Summary of Revenue by Product (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 13,557 | $ 6,166 | $ 25,049 | $ 10,479 |
Synthetic Genes [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 6,098 | 4,550 | 12,609 | 7,666 |
Oligo Pools [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,256 | 608 | 2,066 | 1,336 |
DNA Libraries [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 663 | 377 | 1,076 | 685 |
NGS Tools [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 5,540 | $ 631 | $ 9,298 | $ 792 |
Geographic, Product and Indus_5
Geographic, Product and Industry Information - Summary of Revenue by Industry (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 13,557 | $ 6,166 | $ 25,049 | $ 10,479 |
Industrial Chemicals [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 5,387 | 3,656 | 10,733 | 6,334 |
Academic Research [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,737 | 1,288 | 4,709 | 2,252 |
Health Care [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 5,140 | 1,148 | 9,121 | 1,716 |
Agricultural [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 293 | $ 74 | $ 486 | $ 177 |
Geographic, Product and Indus_6
Geographic, Product and Industry Information - Additional Information (Detail) $ in Millions | Mar. 31, 2019USD ($) |
United States [Member] | |
Segment Reporting Information [Line Items] | |
Long-lived assets | $ 14.4 |
Non-US [Member] | |
Segment Reporting Information [Line Items] | |
Long-lived assets | $ 0.5 |