Twist Bioscience (TWST) 10-Q 12 Aug 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2020	Aug. 10, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Registrant Name	Twist Bioscience Corp
Entity Central Index Key	0001581280
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Security Exchange Name	NASDAQ
Entity Address, State or Province	CA
Title of 12(b) Security	Common Stock
Trading Symbol	TWST
Entity Common Stock, Shares Outstanding		44,662,970
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Current assets
Cash and cash equivalents	$ 207,853	$ 46,735
Short-term investments	103,906	91,372
Accounts receivable, net	13,347	12,104
Inventories	13,161	7,330
Prepaid expenses and other current assets	6,311	2,594
Total current assets	344,578	160,135
Property and equipment, net	23,870	20,835
Operating lease right-of-use assets	35,064
Goodwill	1,138	1,138
Intangible assets, net	356	508
Restricted cash, non-current	579	579
Other non-current assets	2,655	3,799
Total assets	408,240	186,994
Current liabilities
Accounts payable	5,973	9,760
Accrued expenses	2,731	5,965
Accrued compensation	11,298	10,479
Current portion of operating lease liabilities	6,669
Current portion of long-term debt	3,333	3,333
Other current liabilities	1,373	817
Total current liabilities	31,377	30,354
Operating lease liabilities, net of current portion	25,747
Long-term debt, net of current portion	2,170	4,400
Other non-current liabilities		158
Total liabilities	59,294	34,912
Commitments and contingencies (Note 6)
Stockholders' equity
Preferred stock, $0.00001 par value—10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.00001 par value—100,000,000 shares authorized; 44,623,411 and 32,872,675 shares issued and outstanding as of June 30, 2020 and September 30, 2019, respectively
Additional paid-in capital	782,949	470,425
Accumulated other comprehensive income	134	181
Accumulated deficit	(434,137)	(318,524)
Total stockholders' equity	348,946	152,082
Total liabilities and stockholders' equity	$ 408,240	$ 186,994

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Sep. 30, 2019
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, share authorized	10,000,000	10,000,000
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	100,000,000
Common stock, share issued	44,623,411	32,872,675
Common stock, share outstanding	44,623,411	32,872,675

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Revenues	$ 21,207	$ 13,600	$ 57,668	$ 38,648
Operating expenses:
Cost of revenues	16,472	11,394	43,829	35,041
Research and development	10,444	9,007	31,369	25,186
Selling, general and administrative	22,487	21,320	76,082	55,703
Litigation settlement			22,500
Total operating expenses	49,403	41,721	173,780	115,930
Loss from operations	(28,196)	(28,121)	(116,112)	(77,282)
Interest income	247	804	1,388	2,243
Interest expense	(181)	(318)	(644)	(1,007)
Other income (expense), net	(56)	(227)	(125)	(263)
Loss before income taxes	(28,186)	(27,862)	(115,493)	(76,309)
Provision for income taxes	(21)	(54)	(120)	(179)
Net loss attributable to common stockholders	(28,207)	(27,916)	(115,613)	(76,488)
Other comprehensive loss:
Change in unrealized gain on investments	(74)	3	(47)	13
Foreign currency translation adjustment	(5)	250		17
Comprehensive loss	$ (28,286)	$ (27,663)	$ (115,660)	$ (76,458)
Net loss per share attributable to common stockholders—basic and diluted	$ (0.67)	$ (0.92)	$ (3.09)	$ (2.97)
Weighted average shares used in computing net loss per share attributable to common stockholders—basic and diluted	41,838,498	30,290,150	37,462,929	25,789,794

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Series A convertible preferred stock [Member]	Series B convertible preferred stock [Member]	Series C convertible preferred stock [Member]	Series D convertible preferred stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Other comprehensive income [Member]	Accumulated deficit [Member]
Beginning Balance at Sep. 30, 2018	$ (201,422)	$ 9,141	$ 25,900	$ 36,726	$ 218,716		$ 9,346	$ 87	$ (210,855)
Beginning Balance , shares at Sep. 30, 2018		2,817,723	3,315,645	2,491,483	10,326,454	3,206,048
Issuance of common stock in public offering	153,852						153,852
Issuance of common stock in public offering, shares						10,062,500
Vesting of restricted stock units, shares						3,459
Exercise of stock options	1,131						1,131
Exercise of stock options , shares						191,599
Conversion of redeemable convertible preferred stock warrant liability to equity	631						631
Conversion of redeemable convertible preferred stock to common stock	290,462	$ (9,141)	$ (25,900)	$ (36,726)	$ (218,716)		290,462
Conversion of redeemable convertible preferred stock to common stock , shares		(2,817,723)	(3,315,645)	(2,491,483)	(10,326,454)	18,951,305
Repurchases of early exercised stock options, shares						(442)
Stock-based compensation	7,807						7,807
Net exercise of stock warrants , shares						57,122
Other comprehensive income (loss)	30							30
Net loss	(76,488)								(76,488)
Ending Balance at Jun. 30, 2019	176,003						463,229	117	(287,343)
Ending Balance , shares at Jun. 30, 2019						32,471,591
Beginning Balance at Mar. 31, 2019	115,480						375,043	(136)	(259,427)
Beginning Balance , shares at Mar. 31, 2019						28,024,052
Issuance of common stock in public offering	84,255						84,255
Issuance of common stock in public offering, shares						4,312,500
Vesting of restricted stock units, shares						3,459
Exercise of stock options	899						899
Exercise of stock options , shares						131,580
Stock-based compensation	3,032						3,032
Other comprehensive income (loss)	253							253
Net loss	(27,916)								(27,916)
Ending Balance at Jun. 30, 2019	176,003						463,229	117	(287,343)
Ending Balance , shares at Jun. 30, 2019						32,471,591
Beginning Balance at Sep. 30, 2019	152,082						470,425	181	(318,524)
Beginning Balance , shares at Sep. 30, 2019						32,872,675
Issuance of common stock in public offering	295,680						295,680
Issuance of common stock in public offering, shares						11,063,813
Vesting of restricted stock units, shares						149,058
Exercise of stock options	5,005						5,005
Exercise of stock options , shares						539,997
Issuance of shares under the employee stock purchase plan	1,522						1,522
Issuance of shares under the employee stock purchase plan, shares						58,338
Repurchases of early exercised stock options, shares						(1,444)
Repurchase of early exercised stock options							0
Repurchases of common stock for income tax withholding	(1,648)						(1,648)
Repurchases of common stock for income tax withholding , shares						(59,026)
Stock-based compensation	11,965						11,965
Other comprehensive income (loss)	(47)						0	(47)
Net loss	(115,613)						0		(115,613)
Ending Balance at Jun. 30, 2020	348,946						782,949	134	(434,137)
Ending Balance , shares at Jun. 30, 2020						44,623,411
Beginning Balance at Mar. 31, 2020	264,202						669,919	213	(405,930)
Beginning Balance , shares at Mar. 31, 2020						40,970,157
Issuance of common stock in public offering	107,507						107,507
Issuance of common stock in public offering, shares						3,484,848
Vesting of restricted stock units, shares						29,479
Exercise of stock options	1,901						1,901
Exercise of stock options , shares						151,098
Repurchases of early exercised stock options, shares						(548)
Repurchases of common stock for income tax withholding	(450)						(450)
Repurchases of common stock for income tax withholding , shares						(11,623)
Stock-based compensation	4,072						4,072
Other comprehensive income (loss)	(79)							(79)
Net loss	(28,207)								(28,207)
Ending Balance at Jun. 30, 2020	$ 348,946						$ 782,949	$ 134	$ (434,137)
Ending Balance , shares at Jun. 30, 2020						44,623,411

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Common Stock [Member]
Net of underwriting discounts, commissions and offering expenses	$ 7,487	$ 6,307	$ 18,798	$ 17,210

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (115,613)	$ (76,488)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	4,788	4,622
Loss on disposal of property and equipment		202
Non-cash lease expense	(1,239)
Stock-based compensation	11,965	7,807
Discount accretion on investment securities	(243)	(968)
Non-cash interest expense	122	182
Amortization of debt discount	148	219
Changes in assets and liabilities:
Accounts receivable, net	(1,243)	(6,108)
Inventories	(5,831)	532
Prepaid expenses and other current assets	(3,714)	(122)
Other non-current assets	(424)	(442)
Accounts payable	(3,815)	(96)
Accrued expenses	(3,362)	1,961
Accrued compensation	832	4,475
Other liabilities	576	(355)
Net cash used in operating activities	(117,053)	(64,579)
Cash flows from investing activities
Purchases of property and equipment	(7,643)	(10,864)
Proceeds from sale of property and equipment		5
Purchases of investments	(110,438)	(137,264)
Proceeds from maturity of investments	98,100	44,500
Net cash used in investing activities	(19,981)	(103,623)
Cash flows from financing activities
Proceeds from exercise of stock options	4,977	1,109
Proceeds from public offerings, net of underwriting discounts and commissions and offering expenses	295,807	156,208
Proceeds from issuance of common stock under employee stock purchase plan	1,522
Repayments of long-term debt	(2,500)	(1,667)
Repurchases of common stock for income tax withholding	(1,648)
Net cash provided by financing activities	298,158	155,650
Effect of exchange rates on cash, cash equivalents and restricted cash	(6)
Net increase (decrease) in cash, cash equivalents, and restricted cash	161,118	(12,552)
Cash, cash equivalents, and restricted cash at beginning of period	47,398	81,537
Cash, cash equivalents, and restricted cash at end of period	208,516	68,985
Supplemental disclosure of cash flow information
Interest paid	363	605
Income taxes paid, net of refunds	120	221
Non-cash investing and financing activities
Property and equipment additions included in accounts payable and accrued expenses	22	1,273
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	3,718
Offering expenses included in accounts payable and accrued expenses	$ 127
Conversion of redeemable convertible preferred stock warrant liability to equity		631
Conversion of redeemable convertible preferred stock to common stock		$ 290,462

The company

The company	9 Months Ended
	Jun. 30, 2020
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 and genomics company that has developed a disruptive DNA synthesis platform. DNA is used in many applications across different industries: industrial chemicals, academic, healthcare and agriculture. The Company’s fiscal year ends on September 30. The Company has generated net losses in all periods since its inception. As of June 30, 2020, the Company had an accumulated deficit of $434.1 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 equity and debt 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 and commissions and offering expenses. In May 2019, the Company completed an underwritten public offering of its common stock with proceeds of $84.3 million, after deducting underwriting discounts and commissions and offering expenses. In December 2019 and January 2020, the Company completed an at-the-market Management believes that the existing cash, cash equivalents and short-term investments will be sufficient to fund operations for at least one year from the issuance of these unaudited condensed consolidated financial statements. However, the Company may need to obtain additional financing to fund operations beyond this period, and there can be no assurance that it will be successful in raising additional financing 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. COVID-19 In March 2020, the World Health Organization declared the COVID-19 COVID-19 COVID-19 On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. The Act includes provisions relating to refundable payroll tax credits, deferment of the employer portion of certain payroll taxes, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. These provisions are not expected to have a material effect on the Company’s unaudited consolidated financial statements.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Jun. 30, 2020
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 following table provides a reconciliation of the Company’s cash and cash equivalents, current portion of restricted cash and non-current (in thousands) June 30 , 2020 September 30, 2019 Cash and cash equivalents $ 207,853 $ 46,735 Restricted cash, current (within prepaid expenses and other current assets) 84 84 Restricted cash, non-current 579 579 Total cash, cash equivalents and restricted cash $ 208,516 $ 47,398 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 unaudited 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 “Recently adopted accounting pronouncements – Leases” Recent accounting pronouncements Recently adopted accounting pronouncements – Leases In February 2016, the Financial Accounting Standards Board (FASB) issued new lease accounting guidance in Accounting Standard Update (ASU) 2016-02, Leases 2018-10, Codification Improvements to Topic 842, Leases 2018-11, Leases (Topic 842): Targeted Improvements right-of-use On October 1, 2019, the Company adopted Topic 842 using the modified retrospective approach. The adoption had a material effect on the condensed consolidated balance sheets, but did not have a material effect on the condensed consolidated statements of operations and comprehensive loss. Prior period amounts were not adjusted and continue to be reported in accordance with the previous accounting under FASB Accounting Standards Codification (ASC) Topic 840, Leases As a result of electing the transition guidance as described above, on October 1, 2019, the Company recorded operating lease right-of-use Under Topic 842, the Company determines if an arrangement is a lease at inception primarily based on the determination of the party responsible for directing the use of an underlying asset within a contract. Operating lease right-of-use right-of-use right-of-use Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise any such options. Lease expense is recognized on a straight-line basis over the expected lease term. The Company elected to not apply the recognition requirements of Topic 842 to short-term leases with terms of 12 months or less which do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. For short-term leases, lease payments are recognized as operating expenses on a straight-line basis over the lease term. The Company elected to account for lease and non-lease Additional information and disclosures required by Topic 842 are contained in Note 6. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments held-to-maturity available-for-sale In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. 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 ASU 2018-13 In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes

Fair value measurement

Fair value measurement	9 Months Ended
	Jun. 30, 2020
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 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 June 30, 2020 and September 30, 2019 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value. (in thousands) June 30, 2020 Level 1 Level 2 Level 3 Fair value Assets Cash $ 26,893 $ — $ — $ 26,893 Money market funds 180,960 — — 180,960 Commercial paper — 71,794 — 71,794 U.S. government treasury bills 32,112 — — 32,112 Totals $ 239,965 $ 71,794 $ — $ 311,759 (in thousands) September 30, 2019 Level 1 Level 2 Level 3 Fair value Assets Cash $ 19,344 $ — $ — $ 19,344 Money market funds 27,390 — — 27,390 Corporate bonds — 8,530 — 8,530 Commercial paper — 28,361 — 28,361 U.S. government treasury bills 54,482 — — 54,482 Totals $ 101,216 $ 36,891 $ — $ 138,107 As of June 30, 2020 and September 30, 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.

Balance sheet components

Balance sheet components	9 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Balance sheet components	4. Balance sheet components The Company’s accounts receivable, net balance consists of the following: (in thousands) June 30, September 30, Trade Receivables $ 12,740 $ 11,085 Other Receivables 926 1,313 Allowance for Doubtful Accounts (319 ) (294 ) Accounts Receivable, net $ 13,347 $ 12,104 Inventory amounts consist of the following: (in thousands) June 30, September 30, Raw Materials $ 9,991 $ 4,900 Work-in-process 1,794 1,157 Finished Goods 1,376 1,273 $ 13,161 $ 7,330

Goodwill and intangible assets

Goodwill and intangible assets	9 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and September 30, 2019. Total amortization expense related to intangible assets was less than $0.1 million for the three months ended June 30, 2020 and 2019. The intangible assets balances are presented below: June 30, 2020 (in thousands, except for years) Useful Gross Accumulated Net book Developed Technology 6 $ 1,220 $ (864 ) $ 356 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (884 ) $ 356 September 30, 2019 (in thousands, except for years) Useful life in years Gross carrying amount Accumulated amortization Net book value Developed Technology 6 $ 1,220 $ (712 ) $ 508 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (732 ) $ 508

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	6. Commitments and contingencies Litigation On February 3, 2016, Agilent filed a lawsuit against the Company and its Chief Executive Officer, Dr. Emily Leproust (the Complaint), in the Superior Court of California, Santa Clara County, or the Court. The Complaint also named Does 1 through 20, which are fictitious placeholder defendants. Agilent’s complaint alleged three claims against Twist and Dr. Leproust: (1) alleged breach of contract, related to the use of confidential information and alleged breach of non-solicitation On December 7, 2018, the Court granted Agilent’s motion to amend its complaint, permitting Agilent to file its Second Amended Complaint. This new complaint added amended allegations against the Company and Dr. Leproust, and also new claims for breach of contract and trade secret misappropriation against two individuals: Dr. Siyuan Chen, a current Company employee and Solange Glaize, a former Company employee. The Court also set trial to begin on February 24, 2020. On February 6, 2020, the Company, Dr. Leproust, Dr. Chen, Ms. Glaize (together, the Twist Group) and Agilent agreed to the terms of a settlement agreement (the Settlement Agreement) pursuant to which the Twist Group and Agilent each agreed to request dismissal of all claims against each other. The Settlement Agreement resolves the litigation initially commenced by the Complaint and contains no admission of liability or wrongdoing. Pursuant to the Settlement Agreement, the Company agreed to pay Agilent $22.5 million in cash within 14 days of the Settlement Agreement. This amount has been accrued in the consolidated financial statements in the three months ended December 31, 2019. In addition, the Twist Group and Agilent each agreed to release the other party from all known and unknown claims related to the claims and counterclaims alleged or that could have been alleged in such litigation or that arise from the facts and events that gave rise to such litigation. Further, Agilent agreed to grant the Company a limited non-exclusive The Court dismissed the case on February 14, 2020. 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. Leases The Company leases certain of its facilities under non-cancellable operating Future minimum lease payments under all non-cancelable operating (in thousands) Operating leases Years ending September 30: Remainder of 2020 $ 1,341 2021 6,818 2022 6,911 2023 6,572 2024 6,385 Thereafter 11,340 Total minimum lease payments $ 39,367 Less: imputed interest (6,951 ) Total operating lease liabilities $ 32,416 Less: current portion (6,669 ) Operating lease liabilities, net of current portion $ 25,747 During the three and nine months ended June 30, 2020, operating lease expense was $1.9 million and $5.9 million, respectively. Cash payments for amounts included in the measurement of operating lease liabilities for the three and nine months ended June 30, 2020 were $2.9 million and $7.1 million, respectively. As of June 30, 2020, the weighted-average remaining lease term was 5.8 years and the weighted-average discount rate was 6.98%.

Related party transactions

Related party transactions	9 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related party transactions	7. Related party transactions During the three months ended June 30, 2020 and 2019, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $0.5 million, respectively. During the nine months ended June 30, 2020 and 2019, the Company purchased raw materials from a related party investor in the amount of $2.7 million and $2.6 million, respectively. Payable balances and cash receipts and receivable balances with the related party investor were immaterial as of June 30, 2020 and September 30, 2019.

Income taxes

Income taxes	9 Months Ended
	Jun. 30, 2020
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	9 Months Ended
	Jun. 30, 2020
Text Block [Abstract]
Warrants	9 Outstanding warrants for the Company’s common stock, issued in connection with its long-term debt agreements, were as follows: (in thousands, except share and per share data) Number of Exercise June 30, Issuance date Expiration date price per Warrant class/series: 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 Total common stock warrants 26,385 (in thousands, except share and per share data) Number of Exercise September 30, Issuance date Expiration date price per Warrant class/series: 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 Total common stock warrants 26,385

Common stock

Common stock	9 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Common stock	1 0 In December 2019, the Company entered into a sales agreement with Cowen and Company, LLC for an at-the-market The offering was completed during December 2019 and January 2020. During this period, the Company sold share and received total net proceeds under the ATM, net of estimated underwriting discounts and commissions and offering expenses. In February 2020, the Company completed an underwritten public offering of 4,642,857 shares of its common stock at a price to the public of $28.00 per share, including the full exercise of the underwriters’ option to purchase an additional 696,428 shares of common stock. The Company received total net proceeds from the offering of $140.2 million , net of estimated underwriting discounts and commissions and offering expenses. In June 2020, the Company completed an underwriting public offering of 3,484,848 shares of its common stock at a price to the public of $33.00 per share, including the full exercise of underwriters’ option to purchase an additional 454,545 shares of common stock. The Company received total net proceeds from the offering of $107.5 million, net of estimated underwriting discounts and commissions and offering expenses.

Stock-based compensation

Stock-based compensation	9 Months Ended
	Jun. 30, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation	1 1 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 number of shares reserved for issuance under the 2018 Plan upon approval of the plan was 5,856,505 shares of the Company’s common stock, and it increases 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. All common shares issuable under the 2018 Plan have been registered pursuant to registration statements 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. Activity under the equity incentive plans during the nine months ended June 30, 2020 is summarized below: (in thousands, except share and per share data) Shares available Options outstanding Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2019 1,520,875 3,550,445 $ 15.99 8.3 $ 31,998 Additional shares authorized 999,900 — Stock options granted (1,161,972 ) 1,161,972 $ 25.77 Stock options exercised — (540,135 ) $ 9.21 Stock options forfeited 178,049 (178,049 ) $ 22.51 Restricted stock units granted (238,162 ) — — Forfeiture of restricted stock units 32,281 — — Shares withheld for payment of taxes 59,026 — — Early exercised options repurchased 1,444 — Outstanding at June 30, 2020 1,391,441 3,994,233 $ 19.46 8.2 $ 103,249 Vested or expected to vest at June 30, 2020 3,994,233 $ 19.46 8.2 $ 103,249 Vested and exercisable at June 30, 2020 1,487,245 $ 13.80 7.2 $ 46,862 Total stock-based compensation expense recognized was as follows: Three months ended Nine months ended (in thousands) 2020 2019 2020 2019 Cost of revenues $ 279 $ 446 $ 890 $ 1,155 Research and development 833 530 2,357 1,251 Selling, general and administrative 2,960 2,056 8,718 5,401 Total stock-based compensation $ 4,072 $ 3,032 $ 11,965 $ 7,807 As of June 30, 2020, there was $32.1 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 nine months ended June 30, 2020 was as follows: (in thousands, except share and per share data) Number Weighted Weighted Aggregate Outstanding at September 30, 2019 462,370 $ 26.16 3.9 $ 8,959 Restricted stock units granted 221,409 $ 25.16 Restricted stock units vested (145,949 ) $ 26.20 Restricted stock units forfeited (28,798 ) $ 26.20 Outstanding at June 30, 2020 509,032 $ 25.72 3.3 $ 23,059 Expected to vest at June 30, 2020 509,032 $ 25.72 3.3 $ 23,059 As of June 30, 2020, there was $12.2 million of total unrecognized compensation cost related to these issuances that is expected to be recognized over a weighted average period of 3.3 years. 2018 Employee Stock Purchase Plan On September 26, 2018, the board of directors adopted the 2018 Employee Stock Purchase Plan (the 2018 ESPP). The number of shares reserved for issuance under the 2018 ESPP upon approval was 275,225 shares of the Company’s common stock, and it increases 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. The number of shares reserved for issuance as at June 30, 2020 is as follows: Shares Outstanding at September 30, 2019 56,081 Additional shares authorized 249,470 Shares issued during the period (58,338 ) Outstanding at June 30, 2020 247,213 Subject to any plan limitations, the 2018 ESPP allows eligible service providers (through qualified and non-qualified Form 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, or 85% of the fair market value of the Company’s common stock on the last trading day of the offering period. During the three and nine months ended June 30, 2020 and 2019, activity under the 2018 ESPP was immaterial.

Net loss per share attributable

Net loss per share attributable to common stockholders	9 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net loss per share attributable to common stockholders	1 2 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 June 30, Nine months ended June 30, (in thousands, except share and per share data) 2020 2019 2020 2019 Numerator: Net loss attributable to common stockholders $ (28,207 ) $ (27,916 ) $ (115,613 ) $ (76,488 ) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 41,838,498 30,290,150 37,462,929 25,789,794 Net loss per share attributable to common stockholders, basic and $ (0.67 ) $ (0.92 ) $ (3.09 ) $ (2.97 ) 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 nine months ended (in thousands, except share and per share data) 2020 2019 Shares subject to options to purchase common stock 3,994,233 3,606,663 Unvested restricted stock units 509,032 471,330 Unvested restricted shares of common stock — 50,921 Unvested shares of common stock issued upon early exercise of stock options 21,698 45,369 Shares subject to employee stock purchase plan 50,008 143,716 Shares subject to warrants to purchase common stock 26,385 74,670 Total 4,601,356 4,392,669

Geographic, product and industr

Geographic, product and industry information	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Geographic, product and industry information	1 3 The table below sets forth revenues by geographic region, based on ship-to Three months Nine months ended (in thousands) 2020 2019 2020 2019 United States $ 13,365 $ 8,687 $ 34,944 $ 26,567 EMEA 6,394 3,508 18,566 9,257 APAC 1,179 878 3,364 2,017 Americas 269 527 794 807 Total $ 21,207 $ 13,600 $ 57,668 $ 38,648 The table below sets forth revenues by products. Three months ended Nine months ended (in thousands) 2020 2019 2020 2019 Synthetic genes $ 9,604 $ 6,242 $ 26,556 $ 18,850 Oligo pools 1,004 1,214 3,347 3,280 DNA and Biopharma libraries 1,522 578 3,933 1,654 NGS tools 9,077 5,566 23,832 14,864 Total $ 21,207 $ 13,600 $ 57,668 $ 38,648 The table below sets forth revenues by industry. Three months Nine months (in thousands) 2020 2019 2020 2019 Industrial chemicals $ 7,698 $ 5,319 $ 21,471 $ 16,051 Academic research 4,624 4,497 14,341 9,206 Healthcare 8,552 3,291 20,853 12,412 Agricultural 333 493 1,003 979 Total $ 21,207 $ 13,600 $ 57,668 $ 38,648

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
	Jun. 30, 2020
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 following table provides a reconciliation of the Company’s cash and cash equivalents, current portion of restricted cash and non-current (in thousands) June 30 , 2020 September 30, 2019 Cash and cash equivalents $ 207,853 $ 46,735 Restricted cash, current (within prepaid expenses and other current assets) 84 84 Restricted cash, non-current 579 579 Total cash, cash equivalents and restricted cash $ 208,516 $ 47,398 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 unaudited 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 “Recently adopted accounting pronouncements – Leases”
Recent accounting pronouncements	Recent accounting pronouncements Recently adopted accounting pronouncements – Leases In February 2016, the Financial Accounting Standards Board (FASB) issued new lease accounting guidance in Accounting Standard Update (ASU) 2016-02, Leases 2018-10, Codification Improvements to Topic 842, Leases 2018-11, Leases (Topic 842): Targeted Improvements right-of-use On October 1, 2019, the Company adopted Topic 842 using the modified retrospective approach. The adoption had a material effect on the condensed consolidated balance sheets, but did not have a material effect on the condensed consolidated statements of operations and comprehensive loss. Prior period amounts were not adjusted and continue to be reported in accordance with the previous accounting under FASB Accounting Standards Codification (ASC) Topic 840, Leases As a result of electing the transition guidance as described above, on October 1, 2019, the Company recorded operating lease right-of-use Under Topic 842, the Company determines if an arrangement is a lease at inception primarily based on the determination of the party responsible for directing the use of an underlying asset within a contract. Operating lease right-of-use right-of-use right-of-use Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise any such options. Lease expense is recognized on a straight-line basis over the expected lease term. The Company elected to not apply the recognition requirements of Topic 842 to short-term leases with terms of 12 months or less which do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. For short-term leases, lease payments are recognized as operating expenses on a straight-line basis over the lease term. The Company elected to account for lease and non-lease Additional information and disclosures required by Topic 842 are contained in Note 6. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments held-to-maturity available-for-sale In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. 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 ASU 2018-13 In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	9 Months Ended
	Jun. 30, 2020
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) June 30 , 2020 September 30, 2019 Cash and cash equivalents $ 207,853 $ 46,735 Restricted cash, current (within prepaid expenses and other current assets) 84 84 Restricted cash, non-current 579 579 Total cash, cash equivalents and restricted cash $ 208,516 $ 47,398

Fair value measurement (Tables)

Fair value measurement (Tables)	9 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and September 30, 2019 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value. (in thousands) June 30, 2020 Level 1 Level 2 Level 3 Fair value Assets Cash $ 26,893 $ — $ — $ 26,893 Money market funds 180,960 — — 180,960 Commercial paper — 71,794 — 71,794 U.S. government treasury bills 32,112 — — 32,112 Totals $ 239,965 $ 71,794 $ — $ 311,759 (in thousands) September 30, 2019 Level 1 Level 2 Level 3 Fair value Assets Cash $ 19,344 $ — $ — $ 19,344 Money market funds 27,390 — — 27,390 Corporate bonds — 8,530 — 8,530 Commercial paper — 28,361 — 28,361 U.S. government treasury bills 54,482 — — 54,482 Totals $ 101,216 $ 36,891 $ — $ 138,107

Balance sheet components (Table

Balance sheet components (Tables)	9 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule Of Accounts Notes Loans And Financing Receivable	The Company’s accounts receivable, net balance consists of the following: (in thousands) June 30, September 30, Trade Receivables $ 12,740 $ 11,085 Other Receivables 926 1,313 Allowance for Doubtful Accounts (319 ) (294 ) Accounts Receivable, net $ 13,347 $ 12,104
Summary of Inventory	Inventory amounts consist of the following: (in thousands) June 30, September 30, Raw Materials $ 9,991 $ 4,900 Work-in-process 1,794 1,157 Finished Goods 1,376 1,273 $ 13,161 $ 7,330

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	9 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets Balances	The intangible assets balances are presented below: June 30, 2020 (in thousands, except for years) Useful Gross Accumulated Net book Developed Technology 6 $ 1,220 $ (864 ) $ 356 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (884 ) $ 356 September 30, 2019 (in thousands, except for years) Useful life in years Gross carrying amount Accumulated amortization Net book value Developed Technology 6 $ 1,220 $ (712 ) $ 508 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (732 ) $ 508

Commitments and contingencies (

Commitments and contingencies (Tables)	9 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under all non-cancelable operating (in thousands) Operating leases Years ending September 30: Remainder of 2020 $ 1,341 2021 6,818 2022 6,911 2023 6,572 2024 6,385 Thereafter 11,340 Total minimum lease payments $ 39,367 Less: imputed interest (6,951 ) Total operating lease liabilities $ 32,416 Less: current portion (6,669 ) Operating lease liabilities, net of current portion $ 25,747

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Jun. 30, 2020
Text Block [Abstract]
Summary of Issued Warrants for Its Redeemable Convertible Preferred Stock and Common Stock	Outstanding warrants for the Company’s common stock, issued in connection with its long-term debt agreements, were as follows: (in thousands, except share and per share data) Number of Exercise June 30, Issuance date Expiration date price per Warrant class/series: 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 Total common stock warrants 26,385 (in thousands, except share and per share data) Number of Exercise September 30, Issuance date Expiration date price per Warrant class/series: 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 Total common stock warrants 26,385

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Jun. 30, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Activity Under The Equity Incentive Plans	Activity under the equity incentive plans during the nine months ended June 30, 2020 is summarized below: (in thousands, except share and per share data) Shares available Options outstanding Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2019 1,520,875 3,550,445 $ 15.99 8.3 $ 31,998 Additional shares authorized 999,900 — Stock options granted (1,161,972 ) 1,161,972 $ 25.77 Stock options exercised — (540,135 ) $ 9.21 Stock options forfeited 178,049 (178,049 ) $ 22.51 Restricted stock units granted (238,162 ) — — Forfeiture of restricted stock units 32,281 — — Shares withheld for payment of taxes 59,026 — — Early exercised options repurchased 1,444 — Outstanding at June 30, 2020 1,391,441 3,994,233 $ 19.46 8.2 $ 103,249 Vested or expected to vest at June 30, 2020 3,994,233 $ 19.46 8.2 $ 103,249 Vested and exercisable at June 30, 2020 1,487,245 $ 13.80 7.2 $ 46,862
Total Stock-based Compensation Expense	Total stock-based compensation expense recognized was as follows: Three months ended Nine months ended (in thousands) 2020 2019 2020 2019 Cost of revenues $ 279 $ 446 $ 890 $ 1,155 Research and development 833 530 2,357 1,251 Selling, general and administrative 2,960 2,056 8,718 5,401 Total stock-based compensation $ 4,072 $ 3,032 $ 11,965 $ 7,807
Schedule of Nonvested Restricted Stock Units Activity	Activity with respect to the Company’s restricted stock units during the nine months ended June 30, 2020 was as follows: (in thousands, except share and per share data) Number Weighted Weighted Aggregate Outstanding at September 30, 2019 462,370 $ 26.16 3.9 $ 8,959 Restricted stock units granted 221,409 $ 25.16 Restricted stock units vested (145,949 ) $ 26.20 Restricted stock units forfeited (28,798 ) $ 26.20 Outstanding at June 30, 2020 509,032 $ 25.72 3.3 $ 23,059 Expected to vest at June 30, 2020 509,032 $ 25.72 3.3 $ 23,059
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity	The number of shares reserved for issuance as at June 30, 2020 is as follows: Shares Outstanding at September 30, 2019 56,081 Additional shares authorized 249,470 Shares issued during the period (58,338 ) Outstanding at June 30, 2020 247,213

Net loss per share attributab_2

Net loss per share attributable to common stockholders (Tables)	9 Months Ended
	Jun. 30, 2020
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 June 30, Nine months ended June 30, (in thousands, except share and per share data) 2020 2019 2020 2019 Numerator: Net loss attributable to common stockholders $ (28,207 ) $ (27,916 ) $ (115,613 ) $ (76,488 ) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 41,838,498 30,290,150 37,462,929 25,789,794 Net loss per share attributable to common stockholders, basic and $ (0.67 ) $ (0.92 ) $ (3.09 ) $ (2.97 )
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 nine months ended (in thousands, except share and per share data) 2020 2019 Shares subject to options to purchase common stock 3,994,233 3,606,663 Unvested restricted stock units 509,032 471,330 Unvested restricted shares of common stock — 50,921 Unvested shares of common stock issued upon early exercise of stock options 21,698 45,369 Shares subject to employee stock purchase plan 50,008 143,716 Shares subject to warrants to purchase common stock 26,385 74,670 Total 4,601,356 4,392,669

Geographic, product and indus_2

Geographic, product and industry information (Tables)	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of Revenue by Geographic Region	The table below sets forth revenues by geographic region, based on ship-to Three months Nine months ended (in thousands) 2020 2019 2020 2019 United States $ 13,365 $ 8,687 $ 34,944 $ 26,567 EMEA 6,394 3,508 18,566 9,257 APAC 1,179 878 3,364 2,017 Americas 269 527 794 807 Total $ 21,207 $ 13,600 $ 57,668 $ 38,648
Summary of Revenue by Product	The table below sets forth revenues by products. Three months ended Nine months ended (in thousands) 2020 2019 2020 2019 Synthetic genes $ 9,604 $ 6,242 $ 26,556 $ 18,850 Oligo pools 1,004 1,214 3,347 3,280 DNA and Biopharma libraries 1,522 578 3,933 1,654 NGS tools 9,077 5,566 23,832 14,864 Total $ 21,207 $ 13,600 $ 57,668 $ 38,648
Summary of Revenue by Industry	The table below sets forth revenues by industry. Three months Nine months (in thousands) 2020 2019 2020 2019 Industrial chemicals $ 7,698 $ 5,319 $ 21,471 $ 16,051 Academic research 4,624 4,497 14,341 9,206 Healthcare 8,552 3,291 20,853 12,412 Agricultural 333 493 1,003 979 Total $ 21,207 $ 13,600 $ 57,668 $ 38,648

The company - Additional Inform

The company - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended				3 Months Ended	9 Months Ended
	Jun. 30, 2020	Feb. 29, 2020	May 31, 2019	Oct. 31, 2018	Dec. 31, 2019	Jun. 30, 2020	Sep. 30, 2019
Accumulated deficit	$ 434,137					$ 434,137	$ 318,524
Proceeds of underwritten public offering common stock						$ 107,500
IPO [Member]
Proceeds of underwritten public offering common stock			$ 84,300	$ 69,600
At The Market Offering [Member]
Proceeds of underwritten public offering common stock					$ 48,000
Subsequent Public Offering [Member]
Proceeds of underwritten public offering common stock	$ 107,500	$ 140,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Oct. 01, 2019
Operating lease right of use assets	$ 35,064
Operating lease liabilities	$ 32,416
Accounting Standards Update 2018-11 [Member]
Operating lease right of use assets		$ 35,800
Operating lease liabilities		34,300
Operating lease deferred rent		100
Operating lease prepaid rent		$ 1,600

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 207,853	$ 46,735
Restricted cash, current (within prepaid expenses and other current assets)	84	84
Restricted cash, non-current	579	579
Total cash, cash equivalents and restricted cash	$ 208,516	$ 47,398	$ 68,985	$ 81,537

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	Jun. 30, 2020	Sep. 30, 2019
Assets
Assets, Totals	$ 311,759	$ 138,107
Cash [Member]
Assets
Assets, Totals	26,893	19,344
Money Market Funds [Member]
Assets
Assets, Totals	180,960	27,390
Corporate bonds [Member]
Assets
Assets, Totals		8,530
Commercial Paper [Member]
Assets
Assets, Totals	71,794	28,361
US Government Treasury Bills [Member]
Assets
Assets, Totals	32,112	54,482
Fair Value, Inputs, Level 1 [Member]
Assets
Assets, Totals	239,965	101,216
Fair Value, Inputs, Level 1 [Member] | Cash [Member]
Assets
Assets, Totals	26,893	19,344
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Assets
Assets, Totals	180,960	27,390
Fair Value, Inputs, Level 1 [Member] | US Government Treasury Bills [Member]
Assets
Assets, Totals	32,112	54,482
Fair Value, Inputs, Level 2 [Member]
Assets
Assets, Totals	71,794	36,891
Fair Value, Inputs, Level 2 [Member] | Corporate bonds [Member]
Assets
Assets, Totals		8,530
Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member]
Assets
Assets, Totals	$ 71,794	$ 28,361

Balance sheet components - Sche

Balance sheet components - Schedule Of Accounts Notes Loans And Financing Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Trade Receivables	$ 12,740	$ 11,085
Other Receivables	926	1,313
Allowance for Doubtful Accounts	(319)	(294)
Accounts receivable, net	$ 13,347	$ 12,104

Inventory - Summary of Inventor

Inventory - Summary of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Inventory, Net [Abstract]
Raw Materials	$ 9,991	$ 4,900
Work-in-process	1,794	1,157
Finished Goods	1,376	1,273
Total inventories	$ 13,161	$ 7,330

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Sep. 30, 2019
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

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets Balances (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,240	$ 1,240
Accumulated amortization	(884)	(732)
Net book value	$ 356	$ 508
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	(864)	(712)
Net book value	$ 356	$ 508
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)

Commitments and contingencies -

Commitments and contingencies - Additional Information (Detail) - USD ($) $ in Millions	Feb. 06, 2020	Jun. 30, 2020	Jun. 30, 2020
Loss Contingencies [Line Items]
Operating lease payment		$ 2.9	$ 7.1
Operating lease expense		$ 1.9	$ 5.9
Lease weighted-average remaining lease term		5 years 9 months 18 days	5 years 9 months 18 days
Lease Weighted Average Discount Rate		6.98%	6.98%
Agilent [Member]
Loss Contingencies [Line Items]
Litigation settlement amount	$ 22.5

Commitments and contingencies_2

Commitments and contingencies - Schedule Of Future Minimum Rental Payments For Operating Leases (Detail) $ in Thousands	Jun. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2020	$ 1,341
2021	6,818
2022	6,911
2023	6,572
2024	6,385
Thereafter	11,340
Total minimum lease payments	39,367
Less: imputed interest	(6,951)
Total operating lease liabilities	32,416
Less: current portion	(6,669)
Operating lease liabilities, net of current portion	$ 25,747

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Raw materials purchased from related party investor	$ 1.1	$ 0.5	$ 2.7	$ 2.6
Description of related party transactions	During the three months ended June 30, 2020 and 2019, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $0.5 million, respectively. During the nine months ended June 30, 2020 and 2019, the Company purchased raw materials from a related party investor in the amount of $2.7 million and $2.6 million, respectively. Payable balances and cash receipts and receivable balances with the related parties were immaterial as of June 30, 2020 and September 30, 2019.

Warrants - Summary of Issued Wa

Warrants - Summary of Issued Warrants for Its Redeemable Convertible Preferred Stock and Common Stock (Detail) - Common Stock [Member] - $ / shares	9 Months Ended	12 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Class of Warrant or Right [Line Items]
Number of shares underlying warrants	26,385	26,385
Warrants One [Member]
Class of Warrant or Right [Line Items]
Number of shares underlying warrants	18,854	18,854
Issuance date	Dec. 22, 2015	Dec. 22, 2015
Expiration date	Dec. 22, 2025	Dec. 22, 2025
Exercise price per share	$ 14.85	$ 14.85
Warrants Two [Member]
Class of Warrant or Right [Line Items]
Number of shares underlying warrants	7,531	7,531
Issuance date	Mar. 28, 2016	Mar. 28, 2016
Expiration date	Mar. 28, 2026	Mar. 28, 2026
Exercise price per share	$ 21.24	$ 21.24

Common stock - Additional info

Common stock - Additional information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Jun. 30, 2020	Feb. 29, 2020	Dec. 31, 2019	Jun. 30, 2020
Proceeds of underwritten public offering common stock				$ 107.5
At The Market Offering [Member]
Sale of stock authorized amount			$ 50
Number of shares issued			2,239,680
Price per share			$ 22.32
Proceeds of underwritten public offering common stock			$ 48
Over-Allotment Option [Member]
Issuance of common stock, shares	454,545	696,428
Subsequent Public Offering [Member]
Issuance of common stock, shares	3,484,848	4,642,857
Shares issued, price per share	$ 33	$ 28		$ 33
Proceeds of underwritten public offering common stock	$ 107.5	$ 140.2

Stock-based compensation - Addi

Stock-based compensation - Additional Information (Detail) - USD ($) $ in Millions	Sep. 26, 2018	Jun. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options		$ 32.1
Unrecognized stock-based compensation expense, period for recognition		2 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]
Common stock shares may be 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 reserved for issuance	275,225	247,213	56,081
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		$ 12.2
Unrecognized stock-based compensation expense, period for recognition		3 years 3 months 18 days

Stock-based compensation - Acti

Stock-based compensation - Activity Under The Equity Incentive Plans (Detail) - 2018 Equity Incentive Plan [Member] $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available, Outstanding Beginning Balance	1,520,875
Shares available, Additional shares authorized	999,900
Shares available, Stock options granted	(1,161,972)
Shares available, Stock options forfeited	178,049
Shares available, Restricted stock units granted	(238,162)
Shares available, Shares withheld for payment of taxes	59,026
Shares available, Early exercised options repurchased	1,444
Shares available, Forfeiture of restricted stock units	32,281
Shares available, Outstanding Ending Balance	1,391,441	1,520,875
Number of options, Outstanding beginning balance	3,550,445
Options outstanding, Stock options granted	1,161,972
Options outstanding, Stock options exercised	(540,135)
Options outstanding, Stock options forfeited	(178,049)
Number of options, Outstanding ending balance	3,994,233	3,550,445
Weighted average exercise price per share, Outstanding Beginning Balance | $ / shares	$ 15.99
Weighted average exercise price per share, Stock options granted | $ / shares	25.77
Weighted average exercise price per share, Stock options exercised | $ / shares	9.21
Weighted average exercise price per share, Stock options forfeited | $ / shares	22.51
Weighted average exercise price per share, Outstanding Ending Balance | $ / shares	$ 19.46	$ 15.99
Weighted average remaining contractual term, Outstanding	8 years 2 months 12 days	8 years 3 months 18 days
Aggregate intrinsic value, Outstanding | $	$ 103,249	$ 31,998
Options outstanding, Vested or expected to vest	3,994,233
Weighted average exercise price per share, Vested or expected to vest | $ / shares	$ 19.46
Weighted average remaining contractual term, Vested or expected to vest	8 years 2 months 12 days
Aggregate intrinsic value, Vested or expected to vest | $	$ 103,249
Options outstanding, Vested and exercisable	1,487,245
Weighted average exercise price per share, Vested and exercisable | $ / shares	$ 13.80
Weighted average remaining contractual term,Vested and exercisable	7 years 2 months 12 days
Aggregate intrinsic value, Vested and exercisable | $	$ 46,862

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	9 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares
Nonvested Restricted Stock Units Activity [Line Items]
Number of shares, Outstanding Beginning Balance | shares	462,370
Number of shares, granted | shares	221,409
Number of shares, vested | shares	(145,949)
Number of shares, forfeited | shares	(28,798)
Number of shares, Outstanding Ending Balance | shares	509,032	462,370
Expected to vest, Outstanding | shares	509,032
Weighted average grant date fair value price per share, Outstanding Beginning Balance | $ / shares	$ 26.16
Weighted average grant date fair value price per share, granted | $ / shares	25.16
Weighted average grant date fair value price per share, vested | $ / shares	26.20
Weighted average grant date fair value price per share, forfeited | $ / shares	26.20
Weighted average grant date fair value price per share, Outstanding Ending Balance | $ / shares	25.72	$ 26.16
Weighted average grant date fair value price per share, Expected to vest | $ / shares	$ 25.72
Weighted average remaining contractual term, Outstanding	3 years 3 months 18 days	3 years 10 months 24 days
Weighted average remaining contractual term, Expected to vest	3 years 3 months 18 days
Aggregate intrinsic value | $	$ 23,059	$ 8,959
Aggregate intrinsic value, Expected to vest | $	$ 23,059

Stock-based compensation - Tota

Stock-based compensation - Total Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 4,072	$ 3,032	$ 11,965	$ 7,807
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	279	446	890	1,155
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	833	530	2,357	1,251
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 2,960	$ 2,056	$ 8,718	$ 5,401

Stock-based compensation - Summ

Stock-based compensation - Summary of Shares Reserved For Issuance (Detail) - 2018 Employee Stock Purchase Plan [Member]	9 Months Ended
	Jun. 30, 2020shares
Disclosure Of Employee Stock Purchase Plan [Line Items]
Outstanding at September 30, 2019	56,081
Additional shares authorized	249,470
Shares issued during the period	(58,338)
Outstanding at June 30, 2020	247,213

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, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss attributable to common stockholders	$ (28,207)	$ (27,916)	$ (115,613)	$ (76,488)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted	41,838,498	30,290,150	37,462,929	25,789,794
Net loss per share attributable to common stockholders, basic and diluted	$ (0.67)	$ (0.92)	$ (3.09)	$ (2.97)

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	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	4,601,356	4,392,669
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	3,994,233	3,606,663
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	509,032	471,330
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		50,921
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	21,698	45,369
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	26,385	74,670
Employee Stock Purchase Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	50,008	143,716

Geographic, Product and Indus_3

Geographic, Product and Industry Information - Summary of Revenue by Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 21,207	$ 13,600	$ 57,668	$ 38,648
United States [Member]
Segment Reporting Information [Line Items]
Revenue	13,365	8,687	34,944	26,567
EMEA [Member]
Segment Reporting Information [Line Items]
Revenue	6,394	3,508	18,566	9,257
APAC [Member]
Segment Reporting Information [Line Items]
Revenue	1,179	878	3,364	2,017
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	$ 269	$ 527	$ 794	$ 807

Geographic, Product and Indus_4

Geographic, Product and Industry Information - Summary of Revenue by Product (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 21,207	$ 13,600	$ 57,668	$ 38,648
Synthetic Genes [Member]
Segment Reporting Information [Line Items]
Revenue	9,604	6,242	26,556	18,850
Oligo Pools [Member]
Segment Reporting Information [Line Items]
Revenue	1,004	1,214	3,347	3,280
DNA and Biopharma libraries [Member]
Segment Reporting Information [Line Items]
Revenue	1,522	578	3,933	1,654
NGS Tools [Member]
Segment Reporting Information [Line Items]
Revenue	$ 9,077	$ 5,566	$ 23,832	$ 14,864

Geographic, Product and Indus_5

Geographic, Product and Industry Information - Summary of Revenue by Industry (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 21,207	$ 13,600	$ 57,668	$ 38,648
Industrial Chemicals [Member]
Segment Reporting Information [Line Items]
Revenue	7,698	5,319	21,471	16,051
Academic Research [Member]
Segment Reporting Information [Line Items]
Revenue	4,624	4,497	14,341	9,206
Health Care [Member]
Segment Reporting Information [Line Items]
Revenue	8,552	3,291	20,853	12,412
Agricultural [Member]
Segment Reporting Information [Line Items]
Revenue	$ 333	$ 493	$ 1,003	$ 979