Cover Page
Cover Page - shares | 3 Months Ended | |
Dec. 31, 2020 | Feb. 04, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2020 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --09-30 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Registrant Name | Twist Bioscience Corporation | |
Entity Central Index Key | 0001581280 | |
Entity Shell Company | false | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
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 | 48,646,513 | |
Entity Incorporation, State or Country Code | DE | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 001-38720 | |
Entity Address, Address Line One | 681 Gateway Blvd, | |
Entity Address, City or Town | South San Francisco, | |
Entity Address, Postal Zip Code | 94080 | |
Entity Tax Identification Number | 46-2058888 | |
City Area Code | 800 | |
Local Phone Number | 719-0671 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 348,789 | $ 93,667 |
Short-term investments | 238,496 | 196,335 |
Accounts receivable, net | 25,492 | 26,376 |
Inventories | 13,409 | 12,289 |
Prepaid expenses and other current assets | 8,242 | 6,203 |
Total current assets | 634,428 | 334,870 |
Property and equipment, net | 27,153 | 25,466 |
Operating lease right-of-use assets | 32,330 | 33,699 |
Goodwill | 1,138 | 1,138 |
Intangible assets, net | 256 | 307 |
Restricted cash, non-current | 1,530 | 579 |
Other non-current assets | 2,735 | 2,823 |
Total assets | 699,570 | 398,882 |
Current liabilities: | ||
Accounts payable | 8,932 | 4,830 |
Accrued expenses | 3,510 | 3,901 |
Accrued compensation | 11,577 | 14,945 |
Current portion of operating lease liability | 6,444 | 6,409 |
Current portion of long-term debt | 3,333 | 3,333 |
Other current liabilities | 3,306 | 2,611 |
Total current liabilities | 37,102 | 36,029 |
Operating lease liability, net of current portion | 23,681 | 24,837 |
Long-term debt, net of current portion | 625 | 1,403 |
Other non-current liabilities | 210 | 351 |
Total liabilities | 61,618 | 62,620 |
Commitments and contingencies (Note 6) | ||
Stockholders' equity | ||
Common stock, $0.00001 par value—100,000 and 100,000 shares authorized at December 31, 2020 and September 30, 2020, respectively; 48,616 and 45,083 shares issued and outstanding at December 31, 2020 and September 30, 2020, respectively | ||
Additional paid-in capital | 1,129,165 | 794,630 |
Accumulated other comprehensive income | 142 | 87 |
Accumulated deficit | (491,355) | (458,455) |
Total stockholders' equity | 637,952 | 336,262 |
Total liabilities and stockholders' equity | $ 699,570 | $ 398,882 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2020 | Sep. 30, 2020 |
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, share authorized | 100,000,000 | 100,000,000 |
Common stock, share issued | 48,616,000 | 45,083,000 |
Common stock, share outstanding | 48,616,000 | 45,083,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statements of Operations and Comprehensive Loss | ||
Revenues | $ 28,161 | $ 17,164 |
Operating expenses: | ||
Cost of revenues | 18,162 | 13,792 |
Research and development | 14,000 | 10,297 |
Selling, general and administrative | 28,792 | 26,405 |
Litigation settlement | 0 | 22,500 |
Total operating expenses | 60,954 | 72,994 |
Loss from operations | (32,793) | (55,830) |
Interest income | 134 | 564 |
Interest expense | (118) | (248) |
Other income (expense), net | (77) | (87) |
Loss before income taxes | (32,854) | (55,601) |
Provision for income taxes | (46) | (37) |
Net loss attributable to common stockholders | (32,900) | (55,638) |
Other comprehensive loss: | ||
Change in unrealized income/(loss) on investments | (8) | 16 |
Foreign currency translation adjustment | 63 | (7) |
Comprehensive loss | $ (32,845) | $ (55,629) |
Net loss per share attributable to common stockholders—basic and diluted | $ (0.72) | $ (1.69) |
Weighted average shares used in computing net loss per share attributable to common stockholders—basic and diluted | 46,000 | 32,976 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated deficit [Member] |
Beginning Balance at Sep. 30, 2019 | $ 152,082 | $ 470,425 | $ 181 | $ (318,524) | |
Beginning Balance , shares at Sep. 30, 2019 | 32,873 | ||||
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses | 2,024 | 2,024 | |||
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares | 97 | ||||
Vesting of restricted stock units, shares | 85 | ||||
Exercise of stock options | 1,715 | 1,715 | |||
Exercise of stock options , shares | 242 | ||||
Repurchases of early exercised stock options, shares | (1) | ||||
Repurchases of common stock for income tax withholding | (808) | (808) | |||
Repurchases of common stock for income tax withholding , shares | (35) | ||||
Stock-based compensation | 3,697 | 3,697 | |||
Other comprehensive income | 9 | 9 | |||
Net loss | (55,638) | (55,638) | |||
Ending Balance at Dec. 31, 2019 | 103,081 | 477,053 | 190 | (374,162) | |
Ending Balance , shares at Dec. 31, 2019 | 33,261 | ||||
Beginning Balance at Sep. 30, 2020 | 336,262 | 794,630 | 87 | (458,455) | |
Beginning Balance , shares at Sep. 30, 2020 | 45,083 | ||||
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses | 323,851 | 323,851 | |||
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares | 3,136 | ||||
Vesting of restricted stock units, shares | 54 | ||||
Exercise of stock options | 6,072 | 6,072 | |||
Exercise of stock options , shares | 345 | ||||
Net exercise of stock warrants , shares | 22 | ||||
Repurchases of common stock for income tax withholding | (2,410) | (2,410) | |||
Repurchases of common stock for income tax withholding , shares | (24) | ||||
Stock-based compensation | 7,022 | 7,022 | |||
Other comprehensive income | 55 | 55 | |||
Net loss | (32,900) | (32,900) | |||
Ending Balance at Dec. 31, 2020 | $ 637,952 | $ 1,129,165 | $ 142 | $ (491,355) | |
Ending Balance , shares at Dec. 31, 2020 | 48,616 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Common Stock [Member] | ||
Net of underwriting discounts, commissions and offering expenses | $ 21,149 | $ 276 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities | ||
Net loss | $ (32,900) | $ (55,638) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 2,111 | 1,505 |
Loss on disposal of property and equipment | 2 | |
Non-cash lease expense | 248 | 236 |
Stock-based compensation | 7,022 | 3,697 |
Discount accretion on investment securities | 122 | (150) |
Non-cash interest expense | 25 | 46 |
Amortization of debt discount | 30 | 56 |
Changes in assets and liabilities: | ||
Accounts receivable, net | 884 | (950) |
Inventories | (1,122) | (86) |
Prepaid expenses and other current assets | (2,043) | (2,917) |
Other non-current assets | 59 | 62 |
Accounts payable | 3,459 | (556) |
Accrued expenses | (149) | (1,279) |
Accrued Compensation | (3,357) | (1,629) |
Accrued litigation settlement | 22,500 | |
Other liabilities | 677 | 189 |
Net cash used in operating activities | (24,932) | (34,914) |
Cash flows from investing activities | ||
Purchases of property and equipment | (3,629) | (2,058) |
Purchases of investments | (74,292) | (6,537) |
Proceeds from maturity of investments | 32,000 | 21,000 |
Net cash (used in) / provided by investing activities | (45,921) | 12,405 |
Cash flows from financing activities | ||
Proceeds from exercise of stock options | 6,084 | 1,674 |
Proceeds from public offering, net of underwriting discounts and commissions and offering expenses | 324,080 | 2,024 |
Repayments of long-term debt | (833) | (833) |
Repurchases of common stock for income tax withholding | (2,410) | (808) |
Net cash provided by financing activities | 326,921 | 2,057 |
Effect of exchange rates on cash, cash equivalents and restricted cash | 5 | 9 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 256,073 | (20,443) |
Cash, cash equivalents, and restricted cash at beginning of period | 94,246 | 47,398 |
Cash, cash equivalents, and restricted cash at end of period | 350,319 | 26,955 |
Supplemental disclosure of cash flow information | ||
Interest paid | 61 | 146 |
Income taxes paid, net of refunds | 81 | 44 |
Non-cash investing and financing activities | ||
Property and equipment additions included in accounts payable and accrued expenses | 1,515 | 66 |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $ 2,833 | |
Deferred offering costs included in accounts payable and accrued expenses | $ 229 |
The company
The company | 3 Months Ended |
Dec. 31, 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 December 31, 2020, the Company had an accumulated deficit of $491.4 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 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 entered into a sales agreement with Cowen and Company, LLC for an at-the-market offering (ATM) to sell its common stock with net proceeds of $48.0 million, after deducting underwriting discounts and commissions and offering expenses. In February 2020, the Company completed an underwritten public offering of its common stock with net proceeds of $140.2 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 ability to achieve its intended expansion objectives or In March 2020, the World Health Organization declared the COVID-19 outbreak to be a pandemic. During the three months ended December 31, 2020, financial results of the Company were not significantly affected by the COVID-19 outbreak. The Company has considered all information available as of the date of issuance of these financial statements and the Company is not aware of any specific events or circumstances that would require an update to its estimates or judgments, or a revision to the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information becomes available. The extent to which the COVID-19 outbreak affects the Company’s future financial results and operations will depend on future developments which continue to evolve are difficult to predict, mutations in SARS-CoV-2 virus, which may make it more contagious, |
Summary of significant accounti
Summary of significant accounting policies | 3 Months Ended |
Dec. 31, 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 for the fiscal year ended September 30, 2020 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 27, 2020. The condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated balance sheet at September 30, 2020 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three months ended December 31, 2020 are not necessarily indicative of the results expected for the full year ending September 30, 2021 or any interim period. 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. The following table provides a reconciliation of the Company’s cash and cash equivalents and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows: (in thousands) December 2020 September 30, 2020 Cash and cash equivalents $ 348,789 $ 93,667 Restricted cash, non-current 1,530 579 Total cash, cash equivalents and restricted cash $ 350,319 $ 94,246 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. Recent accounting pronouncements Recent 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, and in July 2018 issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842): Targeted Improvements (the foregoing ASUs collectively referred to as “Topic 842”). Under the new guidance, lessees are required to recognize for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use or control the use of, a specified asset for the lease term. 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 ASC 840, Leases. The Company elected the package of practical expedients permitted under the transition guidance which, among other things, allows carrying forward the historical classification of existing leases as of October 1, 2019. As a result of electing the transition guidance as described above, on October 1, 2019, the Company recorded operating lease right-of-use assets of $35.8 million, including the derecognition of deferred rent of $0.1 million and prepaid rent of $1.6 million, with the corresponding lease liabilities totaling $34.3 million. There was no material effect to the Company’s statements of operations and comprehensive loss upon adoption. 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 assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of committed lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date which includes significant assumptions made including the Company’s estimated credit rating, annual percentage yields from corporate debt financings of companies of similar size and credit rating over a loan term approximating the remaining term of each lease, and government bond yields for terms approximating the remaining term of each lease in countries where the leased assets are located. Certain leases include payments of operating expenses that are dependent and may be revised based on the landlord’s estimate, and these variable payments are therefore excluded from the lease payments used to determine the operating lease right-of-use asset and lease liability. 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 components as a single lease component. Additional information and disclosures required by Topic 842 are contained in Note 6. 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 In November 2018, the FASB is s Recently issued accounting pronouncement 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 In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes The ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of adoption on its disclosures. |
Fair value measurement
Fair value measurement | 3 Months Ended |
Dec. 31, 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 market for valuation of its short-term investments. 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 December 31, 2020 and September 30, 2020 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value. December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash $ 40,108 $ — $ — $ 40,108 Money market funds 308,681 — — 308,681 Commercial paper — 132,867 — 132,867 U.S. government treasury bills 105,629 — — 105,629 Totals $ 454,418 $ 132,867 $ — $ 587,285 September 30, 2020 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash $ 20,254 $ — $ — $ 20,254 Money market funds 73,413 — — 73,413 Commercial paper — 94,840 — 94,840 U.S. government treasury bills 101,495 — — 101,495 Totals $ 195,162 $ 94,840 $ — $ 290,002 As of December 31, 2020, and September 30, 2020, 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 | 3 Months Ended |
Dec. 31, 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) December 31, 2020 September 30, 2020 Trade Receivables $ 23,639 $ 25,790 Other Receivables 2,260 951 Allowance for Doubtful Accounts (407 ) (365 ) Accounts Receivable, net $ 25,492 $ 26,376 Inventory consist of the following: (in thousands) December 31, 2020 September 30, 2020 Raw Materials $ 9,940 $ 9,237 Work-in-process 1,701 2,021 Finished Goods 1,768 1,031 $ 13,409 $ 12,289 |
Goodwill and intangible assets
Goodwill and intangible assets | 3 Months Ended |
Dec. 31, 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 December 31, 2020 and September 30, 2020. Total amortization expense related to intangible assets was less than $0.1 million for the three months ended December 31, 2020 and 2019. The intangible assets balances are presented below: December 31, 2020 (in thousands, except for years) Useful lives in years Gross carrying amount Accumulated amortization Net book value Developed Technology 6 $ 1,220 $ (964 ) $ 256 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (984 ) $ 256 September 30, 2020 (in thousands, except for years) Useful lives in years Gross carrying amount Accumulated amortization Net book value Developed Technology 6 $ 1,220 $ (913 ) $ 307 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (933 ) $ 307 |
Commitments and contingencies
Commitments and contingencies | 3 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 6. Commitments and contingencies 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 leases expiring at various dates through 2026. The Company is also responsible for utilities, maintenance, insurance, and property taxes under these leases. Certain leases include options to renew or terminate at the Company’s discretion. The lease terms include periods covered by these options if it is reasonably certain the Company will renew or not terminate. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants. Supplemental balance sheet information related to the Company’s operating lease as of December 31, 2020, was the following: (in thousands) December 31, 2020 Assets: Operating lease right-of-use-asset $ 32,330 Current liabilities: Current portion of operating lease liabilities $ 6,444 Noncurrent liabilities: Operating lease liabilities, net of current portion $ 23,681 Future minimum lease payments under all non-cancelable operating leases that have commenced (in thousands) Operating leases Years ending September 30: Remainder of 2021 $ 4,850 2022 7,140 2023 6,761 2024 6,392 2025 6,433 Thereafter 4,906 Total minimum lease payments $ 36,482 Less: imputed interest (6,357 ) Total operating lease liabilities $ 30,125 Less: current portion (6,444 ) Operating lease liabilities, net of current portion $ 23,681 Operating lease expense was $1.9 million and $2.0 million for the three months ended December 31, 2020 and 2019 respectively. Cash payments for amounts included in the measurement of operating lease liabilities were $1.7 million and $1.9 million for the three months ended December 31, 2020 and 2019 respectively. As of December 31, 2020, the weighted-average remaining lease term was 5.28 years and the weighted-average discount rate was 6.99%. In December 2020, the Company entered into a 12-year operating lease for a 110,995 - - . The lease commencement is contingent upon assuming control over the facility which is not expected to occur until the landlord completes their portion of the buildout which has not yet commenced as of December 31, 2020. The future minimum lease payments under the agreement are $27.9 million. |
Related party transactions
Related party transactions | 3 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related party transactions | 7. Related party transactions During the three months ended December 31, 2020 and 2020, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $0.7 million, respectively. Payable balances and cash receipts and receivable balances with the related party were immaterial as of December 31, 2020 and September 30, 2020. |
Income taxes
Income taxes | 3 Months Ended |
Dec. 31, 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 profit or loss, adjusted for discrete items arising in that quarter. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate primarily as a result of state taxes, foreign taxes, and changes in the Company’s valuation allowance against its deferred tax assets. For each of the three months ended December 31, 2020 and 2019, the Company recorded an immaterial provision for income taxes. |
Warrants
Warrants | 3 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Warrants | 9. Warrants In connection with its long-term debt agreements, the Company issued 18,854 and 7,531 on December 22, 2015 and March 28, 2016, respectively |
Common stock
Common stock | 3 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Common stock | 10. Common stock In December 2019, the Company entered into a sales agreement with Cowen and Company, LLC for an at-the-market offering (ATM) to offer and sell shares of its common stock having an aggregate offering price of up to $50.0 million from time to time. The offering was completed during December 2019 and January 2020. During this period, the Company sold a total of 2,239,680 shares of its common stock at a weighted-average price of $22.32 per share and received total net proceeds of $48.0 million 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 $107.4 million, net of estimated underwriting discounts and commissions and offering expenses. In December 2020, the Company completed an underwriting public offering of 3,136,362 shares of its common stock at a price to the public of $110.00 per share, including the full exercise of underwriters’ option to purchase an additional 409,090 shares of common stock. The Company received total net proceeds from the offering of $323.9 million, net of estimated underwriting discounts and commissions and offering expenses. |
Stock-based compensation
Stock-based compensation | 3 Months Ended |
Dec. 31, 2020 | |
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 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. The number of shares reserved for issuance under the 2018 Plan will increase 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 On September 1, 2020, the board of directors approved the implementation of a revised annual equity award program for executive officers and senior level employees to be granted as performance-based stock units (PSUs) under the 2018 Plan. The number of PSUs ultimately earned under these awards is calculated based on the achievement of certain total revenue threshold during the fiscal year ending September 30, 2022. The percentage of PSUs PSUs As of December 31, 2020, the that based on the probability of the performance condition that will be achieved The Company reassesses the probability of the performance condition at each reporting period and adjusts the compensation cost based on the probability assessment. Any shares subject to outstanding awards under the 2013 Equi t t Activity under the equity incentive plans during the three months ended (In thousands, except per share data) Shares available Options outstanding Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2020 1,034 3,913 $ 24.35 8.1 $ 204,365 Stock options granted (33 ) 33 100.21 Stock options exercised — (348 ) 17.59 Stock options forfeited 29 (29 ) 31.32 Restricted stock units granted (289 ) — — Forfeiture of restricted stock units 9 — — Shares withheld for payment of taxes 24 — — Outstanding at Decem b 774 3,569 $ 24.99 7.9 $ 415,052 Vested or expected to vest 3,569 $ 24.99 7.9 $ 415,052 Vested and exercisable at December 31, 202 0 1,300 $ 14.99 7.0 $ 164,229 Total stock-based compensation expense recognized was as follows: Three months ended December 31, (in thousands) 2020 2019 Cost of revenues $ 487 $ 360 Research and development 2,001 728 Selling, general and administrative 4,534 2,609 Total stock-based compensation $ 7,022 $ 3,697 As of December 31, 2020, there was $38.4 million of total unrecognized compensation cost related to non-vested stock options under the equity incentive plans that are expected to be recognized over a weighted average period of 2.3 years. The weighted-average grant date fair value of stock options granted during the three months ended December 31, 2020 was $63.28 per share. 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 RSUs (in thousands, except per share data) Number of Shares Weighted average grant date fair value per share Weighted average remaining contractual term (years) Aggregate Intrinsic Value Outstanding at September 30, 2020 569 $ 32.96 3.2 $ 43,260 Restricted stock units granted 289 100.13 Restricted stock units vested (56 ) 24.86 Restricted stock units forfeited (9 ) 65.63 Outstanding at December 31, 2020 793 $ 57.67 3.3 $ 112,013 Expected to vest at December 31, 2020 793 $ 57.67 3.3 $ 112,013 As of December 31, 2020, there was $43.8 million of total unrecognized compensation cost related to these issuances that is expected to be recognized over a weighted average period of 3.0 years. 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 increase (In thousands) Shares available Outstanding at September 30, 2020 179 Additional shares authorized 250 Shares issued during the period — Outstanding at December 31, 2020 429 Subject to any plan limitations, the 2018 ESPP allows eligible service providers (through qualified and non-qualified offerings) to contribute, normally through payroll deductions, up to 15% of their earnings for the purchase of the Company’s common stock at a discounted price per share. The offering periods begin for 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 . |
Net loss per share attributable
Net loss per share attributable to common stockholders | 3 Months Ended |
Dec. 31, 2020 | |
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 December 31, (in thousands, except per share data) 2020 2019 Numerator: Net loss attributable to common stockholders $ (32,900 ) $ (55,638 ) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 46,000 32,976 Net loss per share attributable to common stockholders, basic and diluted $ (0.72 ) $ (1.69 ) 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 months ended December 31, (in thousands) 2020 2019 Shares subject to options to purchase common stock 3,569 4,210 Shares subject to performance-based stock options 37 — Unvested restricted shares of common stock — 14 Unvested restricted stock unit s 793 566 Unvested shares of common stock issued upon early exercise of stock options 13 32 Shares subject to employee stock purchase plan 31 80 Shares subject to warrants to purchase common stock — 26 Total 4,443 4,928 |
Geographic, product and industr
Geographic, product and industry information | 3 Months Ended |
Dec. 31, 2020 | |
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 destinations. Americas consists of Canada, Mexico, and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC consists of Japan, China, South Korea, India, Singapore, Malaysia, and Australia. Three months ended December 31, (in thousands) 2020 2019 United States $ 17,034 $ 9,827 EMEA 9,058 5,941 APAC 1,767 1,241 Americas 302 155 Total $ 28,161 $ 17,164 The table below sets forth revenues by products. Three months ended December 31, (in thousands) 2020 2019 Synthetic genes $ 8,874 $ 7,836 Oligo pools 1,510 1,242 DNA and Biopharma libraries 2,205 1,057 NGS tools 15,572 7,029 Total $ 28,161 $ 17,164 The table below sets forth revenues by industry. Three months ended December 31, (in thousands) 2020 2019 Industrial chemicals $ 7,132 $ 6,137 Academic research 4,901 4,951 Healthcare 15,976 5,835 Food/agricultural 152 241 Total $ 28,161 $ 17,164 |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 3 Months Ended |
Dec. 31, 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 for the fiscal year ended September 30, 2020 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 27, 2020. The condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated balance sheet at September 30, 2020 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three months ended December 31, 2020 are not necessarily indicative of the results expected for the full year ending September 30, 2021 or any interim period. 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. The following table provides a reconciliation of the Company’s cash and cash equivalents and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows: (in thousands) December 2020 September 30, 2020 Cash and cash equivalents $ 348,789 $ 93,667 Restricted cash, non-current 1,530 579 Total cash, cash equivalents and restricted cash $ 350,319 $ 94,246 |
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. |
Recent accounting pronouncements | Recent accounting pronouncements Recent 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, and in July 2018 issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842): Targeted Improvements (the foregoing ASUs collectively referred to as “Topic 842”). Under the new guidance, lessees are required to recognize for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use or control the use of, a specified asset for the lease term. 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 ASC 840, Leases. The Company elected the package of practical expedients permitted under the transition guidance which, among other things, allows carrying forward the historical classification of existing leases as of October 1, 2019. As a result of electing the transition guidance as described above, on October 1, 2019, the Company recorded operating lease right-of-use assets of $35.8 million, including the derecognition of deferred rent of $0.1 million and prepaid rent of $1.6 million, with the corresponding lease liabilities totaling $34.3 million. There was no material effect to the Company’s statements of operations and comprehensive loss upon adoption. 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 assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of committed lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date which includes significant assumptions made including the Company’s estimated credit rating, annual percentage yields from corporate debt financings of companies of similar size and credit rating over a loan term approximating the remaining term of each lease, and government bond yields for terms approximating the remaining term of each lease in countries where the leased assets are located. Certain leases include payments of operating expenses that are dependent and may be revised based on the landlord’s estimate, and these variable payments are therefore excluded from the lease payments used to determine the operating lease right-of-use asset and lease liability. 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 components as a single lease component. Additional information and disclosures required by Topic 842 are contained in Note 6. 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 In November 2018, the FASB is s Recently issued accounting pronouncement 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 In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes The ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of adoption on its disclosures. |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 3 Months Ended |
Dec. 31, 2020 | |
Summary of Cash, Cash Equivalents and Restricted Cash | (in thousands) December 2020 September 30, 2020 Cash and cash equivalents $ 348,789 $ 93,667 Restricted cash, non-current 1,530 579 Total cash, cash equivalents and restricted cash $ 350,319 $ 94,246 |
Fair value measurement (Tables)
Fair value measurement (Tables) | 3 Months Ended |
Dec. 31, 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 December 31, 2020 and September 30, 2020 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value. December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash $ 40,108 $ — $ — $ 40,108 Money market funds 308,681 — — 308,681 Commercial paper — 132,867 — 132,867 U.S. government treasury bills 105,629 — — 105,629 Totals $ 454,418 $ 132,867 $ — $ 587,285 September 30, 2020 (in thousands) Level 1 Level 2 Level 3 Fair value Assets Cash $ 20,254 $ — $ — $ 20,254 Money market funds 73,413 — — 73,413 Commercial paper — 94,840 — 94,840 U.S. government treasury bills 101,495 — — 101,495 Totals $ 195,162 $ 94,840 $ — $ 290,002 |
Balance sheet components (Table
Balance sheet components (Tables) | 3 Months Ended |
Dec. 31, 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) December 31, 2020 September 30, 2020 Trade Receivables $ 23,639 $ 25,790 Other Receivables 2,260 951 Allowance for Doubtful Accounts (407 ) (365 ) Accounts Receivable, net $ 25,492 $ 26,376 |
Summary of Inventory | Inventory consist of the following: (in thousands) December 31, 2020 September 30, 2020 Raw Materials $ 9,940 $ 9,237 Work-in-process 1,701 2,021 Finished Goods 1,768 1,031 $ 13,409 $ 12,289 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 3 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Intangible Assets Balances | The intangible assets balances are presented below: December 31, 2020 (in thousands, except for years) Useful lives in years Gross carrying amount Accumulated amortization Net book value Developed Technology 6 $ 1,220 $ (964 ) $ 256 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (984 ) $ 256 September 30, 2020 (in thousands, except for years) Useful lives in years Gross carrying amount Accumulated amortization Net book value Developed Technology 6 $ 1,220 $ (913 ) $ 307 Tradenames & Trademarks 2 20 (20 ) — Total indefinite-lived intangible assets $ 1,240 $ (933 ) $ 307 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 3 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Supplemental Balance Sheet Information Relating to Companies Operating Lease | Supplemental balance sheet information related to the Company’s operating lease as of December 31, 2020, was the following: (in thousands) December 31, 2020 Assets: Operating lease right-of-use-asset $ 32,330 Current liabilities: Current portion of operating lease liabilities $ 6,444 Noncurrent liabilities: Operating lease liabilities, net of current portion $ 23,681 |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease payments under all non-cancelable operating leases that have commenced (in thousands) Operating leases Years ending September 30: Remainder of 2021 $ 4,850 2022 7,140 2023 6,761 2024 6,392 2025 6,433 Thereafter 4,906 Total minimum lease payments $ 36,482 Less: imputed interest (6,357 ) Total operating lease liabilities $ 30,125 Less: current portion (6,444 ) Operating lease liabilities, net of current portion $ 23,681 |
Stock-based compensation (Table
Stock-based compensation (Tables) | 3 Months Ended |
Dec. 31, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Activity Under The Equity Incentive Plans | Activity under the equity incentive plans during the three months ended (In thousands, except per share data) Shares available Options outstanding Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2020 1,034 3,913 $ 24.35 8.1 $ 204,365 Stock options granted (33 ) 33 100.21 Stock options exercised — (348 ) 17.59 Stock options forfeited 29 (29 ) 31.32 Restricted stock units granted (289 ) — — Forfeiture of restricted stock units 9 — — Shares withheld for payment of taxes 24 — — Outstanding at Decem b 774 3,569 $ 24.99 7.9 $ 415,052 Vested or expected to vest 3,569 $ 24.99 7.9 $ 415,052 Vested and exercisable at December 31, 202 0 1,300 $ 14.99 7.0 $ 164,229 |
Total Stock-based Compensation Expense | Total stock-based compensation expense recognized was as follows: Three months ended December 31, (in thousands) 2020 2019 Cost of revenues $ 487 $ 360 Research and development 2,001 728 Selling, general and administrative 4,534 2,609 Total stock-based compensation $ 7,022 $ 3,697 |
Schedule of Nonvested Restricted Stock Units Activity | Activity with respect to the Company’s RSUs (in thousands, except per share data) Number of Shares Weighted average grant date fair value per share Weighted average remaining contractual term (years) Aggregate Intrinsic Value Outstanding at September 30, 2020 569 $ 32.96 3.2 $ 43,260 Restricted stock units granted 289 100.13 Restricted stock units vested (56 ) 24.86 Restricted stock units forfeited (9 ) 65.63 Outstanding at December 31, 2020 793 $ 57.67 3.3 $ 112,013 Expected to vest at December 31, 2020 793 $ 57.67 3.3 $ 112,013 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The number of shares reserved for issuance as at December 31, 2020 is as follows: (In thousands) Shares available Outstanding at September 30, 2020 179 Additional shares authorized 250 Shares issued during the period — Outstanding at December 31, 2020 429 |
Net loss per share attributab_2
Net loss per share attributable to common stockholders (Tables) | 3 Months Ended |
Dec. 31, 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 December 31, (in thousands, except per share data) 2020 2019 Numerator: Net loss attributable to common stockholders $ (32,900 ) $ (55,638 ) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 46,000 32,976 Net loss per share attributable to common stockholders, basic and diluted $ (0.72 ) $ (1.69 ) |
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 months ended December 31, (in thousands) 2020 2019 Shares subject to options to purchase common stock 3,569 4,210 Shares subject to performance-based stock options 37 — Unvested restricted shares of common stock — 14 Unvested restricted stock unit s 793 566 Unvested shares of common stock issued upon early exercise of stock options 13 32 Shares subject to employee stock purchase plan 31 80 Shares subject to warrants to purchase common stock — 26 Total 4,443 4,928 |
Geographic, product and indus_2
Geographic, product and industry information (Tables) | 3 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Summary of Revenue by Geographic Region | The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of Canada, Mexico, and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC consists of Japan, China, South Korea, India, Singapore, Malaysia, and Australia. Three months ended December 31, (in thousands) 2020 2019 United States $ 17,034 $ 9,827 EMEA 9,058 5,941 APAC 1,767 1,241 Americas 302 155 Total $ 28,161 $ 17,164 |
Summary of Revenue by Product | The table below sets forth revenues by products. Three months ended December 31, (in thousands) 2020 2019 Synthetic genes $ 8,874 $ 7,836 Oligo pools 1,510 1,242 DNA and Biopharma libraries 2,205 1,057 NGS tools 15,572 7,029 Total $ 28,161 $ 17,164 |
Summary of Revenue by Industry | The table below sets forth revenues by industry. Three months ended December 31, (in thousands) 2020 2019 Industrial chemicals $ 7,132 $ 6,137 Academic research 4,901 4,951 Healthcare 15,976 5,835 Food/agricultural 152 241 Total $ 28,161 $ 17,164 |
The company - Additional Inform
The company - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |||||||
Dec. 31, 2020 | Jun. 30, 2020 | Feb. 29, 2020 | Jan. 31, 2020 | May 31, 2019 | Oct. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | |
Accumulated deficit | $ (491,355) | $ (491,355) | $ (458,455) | ||||||
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 | $ 48,000 | |||||||
Subsequent Public Offering [Member] | |||||||||
Proceeds of underwritten public offering common stock | $ 323,900 | $ 107,400 | $ 140,200 | $ 323,900 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 | Oct. 01, 2019 |
Operating lease right of use assets | $ 32,330 | $ 33,699 | |
Operating lease liabilities | $ 30,125 | ||
Accounting Standards Update 2018-11 [Member] | |||
Operating lease right of use assets | $ 35,800 | ||
Operating lease deferred rent | 100 | ||
Operating lease prepaid rent | 1,600 | ||
Operating lease liabilities | $ 34,300 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||||
Cash and cash equivalents | $ 348,789 | $ 93,667 | ||
Restricted cash, non-current | 1,530 | 579 | ||
Total cash, cash equivalents and restricted cash | $ 350,319 | $ 94,246 | $ 26,955 | $ 47,398 |
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 | Dec. 31, 2020 | Sep. 30, 2020 |
Assets | ||
Assets, Totals | $ 587,285 | $ 290,002 |
Commercial Paper [Member] | ||
Assets | ||
Assets, Totals | 132,867 | 94,840 |
US Government Treasury Bills [Member] | ||
Assets | ||
Assets, Totals | 105,629 | 101,495 |
Cash [Member] | ||
Assets | ||
Assets, Totals | 40,108 | 20,254 |
Money Market Funds [Member] | ||
Assets | ||
Assets, Totals | 308,681 | 73,413 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Assets, Totals | 454,418 | 195,162 |
Fair Value, Inputs, Level 1 [Member] | US Government Treasury Bills [Member] | ||
Assets | ||
Assets, Totals | 105,629 | 101,495 |
Fair Value, Inputs, Level 1 [Member] | Cash [Member] | ||
Assets | ||
Assets, Totals | 40,108 | 20,254 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Assets | ||
Assets, Totals | 308,681 | 73,413 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Assets, Totals | 132,867 | 94,840 |
Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | ||
Assets | ||
Assets, Totals | $ 132,867 | $ 94,840 |
Balance sheet components - Sche
Balance sheet components - Schedule Of Accounts Notes Loans And Financing Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 |
Trade Receivables | $ 23,639 | $ 25,790 |
Other Receivables | 2,260 | 951 |
Allowance for Doubtful Accounts | (407) | (365) |
Accounts Receivable, net | $ 25,492 | $ 26,376 |
Balance sheet components - Summ
Balance sheet components - Summary of Inventory (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 |
Balance Sheet Related Disclosures [Abstract] | ||
Raw Materials | $ 9,940 | $ 9,237 |
Work-in-process | 1,701 | 2,021 |
Finished Goods | 1,768 | 1,031 |
Total inventories | $ 13,409 | $ 12,289 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | |
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 | $ 0.1 | $ 0.1 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Summary of Intangible Assets Balances (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Sep. 30, 2020 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 1,240 | $ 1,240 |
Accumulated amortization | (984) | (933) |
Net book value | $ 256 | $ 307 |
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 | (964) | (913) |
Net book value | $ 256 | $ 307 |
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) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | |
Operating lease expense | $ 1,900 | $ 2,000 |
Operating lease minimum lease payments | 36,482 | |
Operating lease payment | $ 1,700 | $ 1,900 |
Lease weighted-average remaining lease term | 5 years 3 months 10 days | |
Lease weighted average discount rate | 6.99% | |
Wilsonville Oregon [Member] | Commercial Real Estate [Member] | ||
Operating lease term | 12 years | |
Operating lease minimum lease payments | $ 27,900 | |
Operating lease base rent annual percentage increase | 3.00% | |
Area of property subject to operating lease | ft² | 110,995 | |
Operating lease security deposit with the lessor | $ 1,000 | |
Contingent liability letter of credit | 1,000 | |
Operating lease annual base rent | 1,700 | |
Tenant improvement allowance from lessor | $ 13,300 | |
Wilsonville Oregon [Member] | Commercial Real Estate [Member] | Renewal Term One [Member] | ||
Extension of Sub lease term | 5 years | |
Wilsonville Oregon [Member] | Commercial Real Estate [Member] | Renewal Term Two [Member] | ||
Extension of Sub lease term | 5 years |
Commitments and contingencies_2
Commitments and contingencies - Schedule of Supplemental Balance Sheet Information Relating to Companies Operating Lease (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 |
Assets: | ||
Operating lease right-of-use-asset | $ 32,330 | $ 33,699 |
Current liabilities: | ||
Current portion of operating lease liabilities | 6,444 | 6,409 |
Noncurrent liabilities: | ||
Operating lease liabilities, net of current portion | $ 23,681 | $ 24,837 |
Commitments and contingencies_3
Commitments and contingencies - Schedule Of Future Minimum Rental Payments For Operating Leases (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Sep. 30, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
2021 | $ 4,850 | |
2022 | 7,140 | |
2023 | 6,761 | |
2024 | 6,392 | |
2025 | 6,433 | |
Thereafter | 4,906 | |
Total minimum lease payments | 36,482 | |
Less: imputed interest | (6,357) | |
Total operating lease liabilities | 30,125 | |
Less: current portion | (6,444) | $ (6,409) |
Operating lease liabilities, net of current portion | $ 23,681 | $ 24,837 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Raw materials purchased from related party investor | $ 1.1 | $ 0.7 |
Description of related party transactions | During the three months ended December 31, 2020 and 2020, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $0.7 million, respectively. Payable balances and cash receipts and receivable balances with the related party were immaterial as of December 31, 2020 and September 30, 2020. |
Warrants - Additional Informati
Warrants - Additional Information (Detail) - $ / shares | Nov. 01, 2020 | Oct. 01, 2020 | Mar. 28, 2016 | Dec. 22, 2015 | Dec. 31, 2020 | Dec. 31, 2019 |
Class of Warrant or Right [Line Items] | ||||||
Net exercise of stock warrants | 16,051 | |||||
Number of shares underlying warrants | 7,531 | 18,854 | ||||
Exercise price per share | $ 21.24 | $ 14.85 | ||||
Common stock issued for cashless exercise | 6,041 | 16,051 | ||||
Class of warrants or rights outstanding | 0 | 26,385 | ||||
Warrants One [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Class of warrants or rights number of warrants issued during the period | 7,531 | 18,854 |
Common stock - Additional info
Common stock - Additional information (Detail) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | ||||
Dec. 31, 2020 | Jun. 30, 2020 | Feb. 29, 2020 | Jan. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
At The Market Offering [Member] | ||||||
Sale Of Stock Authorized Amount | $ 50 | $ 50 | ||||
Number of shares issued | 2,239,680 | |||||
Price per share | $ 22.32 | $ 22.32 | ||||
Proceeds of underwritten public offering common stock | $ 48 | $ 48 | ||||
Over-Allotment Option [Member] | ||||||
Number of shares issued | 696,428 | |||||
Issuance of common stock, shares | 454,545 | 409,090 | ||||
Subsequent Public Offering [Member] | ||||||
Issuance of common stock, shares | 3,484,848 | 4,642,857 | 3,136,362 | |||
Shares issued, price per share | $ 110 | $ 33 | $ 28 | $ 110 | ||
Proceeds of underwritten public offering common stock | $ 323.9 | $ 107.4 | $ 140.2 | $ 323.9 |
Stock-based compensation - Addi
Stock-based compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Sep. 26, 2018 | Dec. 31, 2020 | Sep. 30, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost, stock options | $ 38.4 | ||
Unrecognized stock-based compensation expense, period for recognition | 2 years 3 months 18 days | ||
Weighted average grant date fair value of stock options granted | $ 63.28 | ||
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 | 429,000 | 179,000 |
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] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share based compensation by share based payment arrangement equity instruments other than options non vested outstanding grant date fair value | $ 57.67 | $ 32.96 | |
Restricted Stock Units (RSUs) [Member] | 2018 ESPP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost, stock options | $ 43.8 | ||
Unrecognized stock-based compensation expense, period for recognition | 3 years | ||
Phantom Share Units (PSUs) [Member] | Revised Annual Equity Award Programme [Member] | Executive Officers and Senior Level Employees [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share based compensation by share based payment arrangement instruments other than options expected to vest outstanding | 245,913 | ||
Share based compensation by share based payment arrangement equity instruments other than options non vested outstanding grant date fair value | $ 44.72 | ||
Share based compensation by share based payment arrangement equity instruments other than options unrecognized compensation | $ 9.4 | ||
Unrecognized stock-based compensation expense, period for recognition | 1 year 9 months 18 days | ||
Phantom Share Units (PSUs) [Member] | Revised Annual Equity Award Programme [Member] | Minimum [Member] | Executive Officers and Senior Level Employees [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting Rights Percentage | 0.00% | ||
Phantom Share Units (PSUs) [Member] | Revised Annual Equity Award Programme [Member] | Maximum [Member] | Executive Officers and Senior Level Employees [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting Rights Percentage | 150.00% |
Stock-based compensation - Summ
Stock-based compensation - Summary of Shares Reserved For Issuance (Detail) - 2018 Employee Stock Purchase Plan [Member] shares in Thousands | 3 Months Ended |
Dec. 31, 2020shares | |
Disclosure Of Employee Stock Purchase Plan [Line Items] | |
Outstanding at September 30, 2020 | 179 |
Additional shares authorized | 250 |
Shares issued during the period | 0 |
Outstanding at December 31, 2020 | 429 |
Stock-based compensation - Acti
Stock-based compensation - Activity Under The Equity Incentive Plans (Detail) - 2018 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares available, Outstanding Beginning Balance | 1,034,000 | |
Shares available, Stock options granted | (33,000) | |
Shares available, Stock options forfeited | 29,000 | |
Shares available, Restricted stock units granted | (289,000) | |
Shares available, Forfeiture of restricted common stock | 9,000 | |
Shares available, Shares withheld for payment of taxes | 24,000 | |
Shares available, Outstanding Ending Balance | 774,000 | 1,034,000 |
Number of options, Outstanding beginning balance | 3,913,000 | |
Options outstanding, Stock options granted | 33,000 | |
Options outstanding, Stock options exercised | (348,000) | |
Options outstanding, Stock options forfeited | (29,000) | |
Number of options, Outstanding ending balance | 3,569,000 | 3,913,000 |
Options outstanding, Vested or expected to vest | 3,569,000 | |
Options outstanding, Vested and exercisable | 1,300,000 | |
Weighted average exercise price per share, Outstanding Beginning Balance | $ 24.35 | |
Weighted average exercise price per share, Stock options granted | 100.21 | |
Weighted average exercise price per share, Stock options exercised | 17.59 | |
Weighted average exercise price per share, Stock options forfeited | 31.32 | |
Weighted average exercise price per share, Outstanding Ending Balance | 24.99 | $ 24.35 |
Weighted average exercise price per share, Vested or expected to vest | 24.99 | |
Weighted average exercise price per share, Vested and exercisable | $ 14.99 | |
Weighted average remaining contractual term, Outstanding | 7 years 10 months 24 days | 8 years 1 month 6 days |
Weighted average remaining contractual term, Vested or expected to vest | 7 years 10 months 24 days | |
Weighted average remaining contractual term,Vested and exercisable | 7 years | |
Aggregate intrinsic value, Outstanding | $ 415,052 | $ 204,365 |
Aggregate intrinsic value, Vested or expected to vest | 415,052 | |
Aggregate intrinsic value, Vested and exercisable | $ 164,229 |
Stock-based compensation - Sche
Stock-based compensation - Schedule of Nonvested Restricted Stock Units Activity (Detail) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Sep. 30, 2020 | |
Nonvested Restricted Stock Units Activity [Line Items] | ||
Number of shares, Outstanding Beginning Balance | 569,000 | |
Number of shares, granted | 289,000 | |
Number of shares, vested | (56,000) | |
Number of shares, forfeited | (9,000) | |
Number of shares, Outstanding Ending Balance | 793,000 | 569,000 |
Expected to vest, Outstanding | 793,000 | |
Weighted average grant date fair value price per share, Outstanding Beginning Balance | $ 32.96 | |
Weighted average grant date fair value price per share, granted | 100.13 | |
Weighted average grant date fair value price per share, vested | 24.86 | |
Weighted average grant date fair value price per share, forfeited | 65.63 | |
Weighted average grant date fair value price per share, Outstanding Ending Balance | 57.67 | $ 32.96 |
Weighted average grant date fair value price per share, Expected to vest | $ 57.67 | |
Weighted average remaining contractual term, granted | 3 years 3 months 18 days | 3 years 2 months 12 days |
Weighted average remaining contractual term, Expected to vest | 3 years 3 months 18 days | |
Aggregate intrinsic value, Outstanding | $ 112,013 | $ 43,260 |
Aggregate intrinsic value, Expected to vest | $ 112,013 |
Stock-based compensation - Tota
Stock-based compensation - Total Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock based compensation expense | $ 7,022 | $ 3,697 |
Cost of Revenues [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock based compensation expense | 487 | 360 |
Research and Development [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock based compensation expense | 2,001 | 728 |
Selling, General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock based compensation expense | $ 4,534 | $ 2,609 |
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 | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Numerator: | ||
Net loss attributable to common stockholders | $ (32,900) | $ (55,638) |
Denominator: | ||
Weighted average shares used in computing net loss per share, basic and diluted | 46,000 | 32,976 |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.72) | $ (1.69) |
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 shares in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 4,443 | 4,928 |
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 | 3,569 | 4,210 |
Stock Options Based On Performance [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 37 | |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share amount | 14 | |
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 | 793 | 566 |
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 | 13 | 32 |
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 | 0 | 26 |
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 | 31 | 80 |
Geographic, Product and Indus_3
Geographic, Product and Industry Information - Summary of Revenue by Geographic Region (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 28,161 | $ 17,164 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 17,034 | 9,827 |
EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 9,058 | 5,941 |
APAC [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 1,767 | 1,241 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | $ 302 | $ 155 |
Geographic, Product and Indus_4
Geographic, Product and Industry Information - Summary of Revenue by Product (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 28,161 | $ 17,164 |
Synthetic Genes [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 8,874 | 7,836 |
Oligo Pools [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 1,510 | 1,242 |
DNA and Biopharma libraries [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 2,205 | 1,057 |
NGS Tools [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | $ 15,572 | $ 7,029 |
Geographic, Product and Indus_5
Geographic, Product and Industry Information - Summary of Revenue by Industry (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 28,161 | $ 17,164 |
Industrial Chemicals [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 7,132 | 6,137 |
Academic Research [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,901 | 4,951 |
Health Care [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 15,976 | 5,835 |
Food/agricultural [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | $ 152 | $ 241 |