Twist Bioscience (TWST) 10-Q 2 Aug 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38720
Entity Registrant Name	Twist Bioscience Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2058888
Entity Address, Address Line One	681 Gateway Blvd
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	800
Local Phone Number	719-0671
Title of 12(b) Security	Common Stock
Trading Symbol	TWST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,585,960
Amendment Flag	false
Entity Central Index Key	0001581280
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 239,142	$ 286,470
Short-term investments	50,276	49,943
Accounts receivable, net	31,988	44,064
Inventories	28,484	32,063
Prepaid expenses and other current assets	11,941	11,716
Total current assets	361,831	424,256
Property and equipment, net	106,339	131,830
Operating lease right-of-use assets	61,277	71,531
Goodwill	85,811	85,811
Intangible assets, net	14,741	54,483
Restricted cash, non-current	2,895	2,811
Other non-current assets	5,224	5,681
Total assets	638,118	776,403
Current liabilities:
Accounts payable	6,626	14,052
Accrued expenses	14,838	10,754
Accrued compensation	31,659	25,818
Current portion of operating lease liability	14,555	14,896
Other current liabilities	6,079	7,803
Total current liabilities	73,757	73,323
Operating lease liability, net of current portion	72,625	79,173
Other non-current liabilities	597	475
Total liabilities	146,979	152,971
Commitments and contingencies (Note 6)
Stockholders’ equity
Common stock, $0.00001 par value —100,000 and 100,000 shares authorized at June 30, 2024 and September 30, 2023, respectively; 58,519 and 57,557 shares issued and outstanding at June 30, 2024 and September 30, 2023, respectively	0	0
Additional paid-in capital	1,699,127	1,657,222
Accumulated other comprehensive income	(735)	(756)
Accumulated deficit	(1,207,253)	(1,033,034)
Total stockholders’ equity	491,139	623,432
Total liabilities and stockholders’ equity	$ 638,118	$ 776,403

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.00001	$ 0.00001
Common stock, authorized (in shares)	100,000	100,000
Common stock, issued (in shares)	58,519	57,557
Common stock, outstanding (in shares)	58,519	57,557

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Revenues	[1]	$ 81,464	$ 63,740	$ 228,264	$ 178,163
Operating expenses:
Cost of revenues		46,193	41,845	133,148	112,956
Research and development		22,469	24,528	69,718	83,148
Selling, general and administrative		56,794	46,057	165,256	142,347
Restructuring and other costs		0	9,052	0	9,052
Impairment of long-lived assets		44,930	3,620	44,930	3,620
Change in fair value of contingent considerations and holdbacks		0	(581)	0	(5,913)
Total operating expenses		170,386	124,521	413,052	345,210
Loss from operations		(88,922)	(60,781)	(184,788)	(167,047)
Interest income		3,663	3,968	11,724	10,472
Interest expense		0	(1)	0	(4)
Other income (expense), net		(121)	41	(351)	(422)
Loss before income taxes		(85,380)	(56,773)	(173,415)	(157,001)
Income tax provision		(191)	(622)	(656)	(1,374)
Net loss attributable to common stockholders		(85,571)	(57,395)	(174,071)	(158,375)
Other comprehensive loss:
Change in unrealized gain (loss) on investments		(21)	(208)	56	1,308
Foreign currency translation adjustment		(54)	(538)	(35)	(100)
Comprehensive loss		$ (85,646)	$ (58,141)	$ (174,050)	$ (157,167)
Net loss per share attributable to common stockholders—basic (in usd per share)		$ (1.47)	$ (1.01)	$ (3.01)	$ (2.79)
Net loss per share attributable to common stockholders—diluted (in usd per share)		$ (1.47)	$ (1.01)	$ (3.01)	$ (2.79)
Weighted average shares used in computing net loss per share attributable to common stockholders—basic (in shares)		58,145	57,041	57,806	56,753
Weighted average shares used in computing net loss per share attributable to common stockholders—diluted (in shares)		58,145	57,041	57,806	56,753
[1]During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue	[1]	$ 81,464	$ 63,740	$ 228,264	$ 178,163
Related Party
Revenue		$ 4,100	$ 900	$ 9,700	$ 3,600
[1]During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Accumulated Other comprehensive loss	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Sep. 30, 2022			56,523,000
Beginning balance at Sep. 30, 2022	$ 789,385		$ 0	$ 1,619,644	$ (1,843)	$ (828,416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			504,000
Exercise of stock options (in shares)			102,000
Exercise of stock options	1,195			1,195
Issuance of shares under the employee stock purchase program (in shares)			132,000
Issuance of shares under the employee stock purchase plan	2,536			2,536
Repurchases of common stock for income tax withholding (in shares)			(171,000)
Repurchases of common stock for income tax withholding	(3,275)			(3,275)
Issuance of shares associated with a business acquisition (in shares)			277,000
Issuance of shares from business acquisition	5,860			5,860
Stock-based compensation	19,016			19,016
Other comprehensive income (loss)	1,208				1,208
Net loss	(158,375)					(158,375)
Ending balance (in shares) at Jun. 30, 2023			57,367,000
Ending balance at Jun. 30, 2023	657,550		$ 0	1,644,976	(635)	(986,791)
Beginning balance (in shares) at Sep. 30, 2022			56,523,000
Beginning balance at Sep. 30, 2022	$ 789,385		$ 0	1,619,644	(1,843)	(828,416)
Ending balance (in shares) at Sep. 30, 2023	57,557,000		57,557,000
Ending balance at Sep. 30, 2023	$ 623,432	$ (148)	$ 0	1,657,222	(756)	(1,033,034)	$ (148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update	Accounting Standards Update 2016-13 [Member]
Beginning balance (in shares) at Mar. 31, 2023			57,105,000
Beginning balance at Mar. 31, 2023	$ 703,932		$ 0	1,633,217	111	(929,396)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			182,000
Exercise of stock options (in shares)			45,000
Exercise of stock options	342			342
Repurchases of common stock for income tax withholding (in shares)			(70,000)
Repurchases of common stock for income tax withholding	(1,014)			(1,014)
Issuance of shares associated with a business acquisition (in shares)			105,000
Issuance of shares from business acquisition	1,767			1,767
Stock-based compensation	10,664			10,664
Other comprehensive income (loss)	(746)				(746)
Net loss	(57,395)					(57,395)
Ending balance (in shares) at Jun. 30, 2023			57,367,000
Ending balance at Jun. 30, 2023	$ 657,550		$ 0	1,644,976	(635)	(986,791)
Beginning balance (in shares) at Sep. 30, 2023	57,557,000		57,557,000
Beginning balance at Sep. 30, 2023	$ 623,432	$ (148)	$ 0	1,657,222	(756)	(1,033,034)	$ (148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			712,000
Exercise of stock options (in shares)	261,000		261,000
Exercise of stock options	$ 5,183			5,183
Repurchases of common stock for income tax withholding (in shares)			(135,000)
Repurchases of common stock for income tax withholding	(3,967)			(3,967)
Issuance of shares associated with a business acquisition (in shares)			124,000
Issuance of shares from business acquisition	2,047			2,047
Stock-based compensation	38,642			38,642
Other comprehensive income (loss)	21				21
Net loss	$ (174,071)					(174,071)
Ending balance (in shares) at Jun. 30, 2024	58,519,000		58,519,000
Ending balance at Jun. 30, 2024	$ 491,139		$ 0	1,699,127	(735)	(1,207,253)
Beginning balance (in shares) at Mar. 31, 2024			58,162,000
Beginning balance at Mar. 31, 2024	560,131		$ 0	1,682,473	(660)	(1,121,682)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			223,000
Exercise of stock options (in shares)			134,000
Exercise of stock options	2,915			2,915
Repurchases of common stock for income tax withholding	(7)			(7)
Stock-based compensation	13,746			13,746
Other comprehensive income (loss)	(75)				(75)
Net loss	$ (85,571)					(85,571)
Ending balance (in shares) at Jun. 30, 2024	58,519,000		58,519,000
Ending balance at Jun. 30, 2024	$ 491,139		$ 0	$ 1,699,127	$ (735)	$ (1,207,253)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (174,071)	$ (158,375)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	24,776	20,810
Impairment of long-lived assets	44,930	3,620
Non-cash lease expense	647	1,040
Stock-based compensation	38,578	18,531
Change in fair value of acquisition consideration	0	(5,913)
Other non-cash adjustments	(185)	(33)
Changes in assets and liabilities:
Accounts receivable, net	11,398	(2,508)
Inventories	3,578	2,949
Prepaid expenses and other current assets	(185)	(1,935)
Other non-current assets	472	1,050
Accounts payable	(6,927)	(4,431)
Accrued expenses	4,132	1,278
Accrued compensation	5,932	348
Other liabilities	(1,849)	1,799
Net cash used in operating activities	(48,774)	(121,770)
Cash flows from investing activities
Purchases of property and equipment	(3,074)	(25,386)
Purchases of investments	(30,712)	(58,255)
Proceeds from maturity of investments	32,000	136,500
Net cash (used in) provided by investing activities	(1,786)	52,859
Cash flows from financing activities
Proceeds from exercise of stock options	5,183	1,208
Proceeds from issuance of common stock under employee stock purchase plan	2,047	2,536
Repurchases of common stock for income tax withholding	(3,967)	(3,275)
Net cash provided by financing activities	3,263	469
Effect of exchange rates on cash, cash equivalents and restricted cash	53	21
Net decrease in cash, cash equivalents, and restricted cash	(47,244)	(68,421)
Cash, cash equivalents, and restricted cash at beginning of period	289,281	380,259
Cash, cash equivalents, and restricted cash at end of period	242,037	311,838
Supplemental disclosure of cash flow information
Income taxes paid, net of refunds	363	241
Non-cash investing and financing activities
Property and equipment additions included in accounts payable and accrued expenses	226	1,686
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	0	4,215
Issuance of common stock in connection with the business acquisition	0	5,860
Tenant improvement allowance capitalized in property and equipment	2,719	0
Conversion of convertible notes	$ 0	$ 3,711

The Company

The Company	9 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	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/materials, academic, healthcare and food/agriculture. The Company’s fiscal year ends on September 30. The core of the Company’s platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. The Company has combined this technology with proprietary software, scalable commercial infrastructure and an e-commerce platform to create an integrated technology platform that enables the Company to achieve high levels of quality, precision, automation, and manufacturing throughput at a significantly lower cost than its competitors. The Company is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next generation sample preparation, and antibody libraries for drug discovery and development. The Company has a limited operating history and its prospects are subject to risks, expenses and uncertainties frequently encountered by companies in this industry. These risks include, but are not limited to, the uncertainty of availability of additional financing, market acceptance of its products, the ability to retain and attract new customers, and the uncertainty of achieving future profitability. The Company has generated net losses in all periods since its inception. As of June 30, 2024, the Company had an accumulated deficit of $1,207.3 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. As of June 30, 2024, the Company had cash and cash equivalents and short-term investments of $289.4 million, which the management believes will be sufficient to fund operations for at least one year from the issuance of these consolidated financial statements. However, if the Company needs to obtain additional financing to fund operations beyond this period, 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.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of significant accounting policies	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, 2023 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 21, 2023. 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, 2023 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three and nine months ended June 30, 2024 are not necessarily indicative of the results expected for the full year ending September 30, 2024 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. To conform with current fiscal 2024 presentation, we reclassified $3.6 million of impairment of property and equipment included within restructuring and other costs to impairment of long-lived assets in the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended June 30, 2023. This reclassification had no impact on our condensed statement of operations and comprehensive loss for the three and nine months ended June 30, 2023. 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) June 30, September 30, Cash and cash equivalents $ 239,142 $ 286,470 Restricted cash, non-current 2,895 2,811 Total cash, cash equivalents and restricted cash $ 242,037 $ 289,281 Restricted cash represents cash held at financial institutions that are pledged as collateral for stand-by letters of credit for lease commitments and is included in non-current assets. 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 other than disclosed below. Allowance for Credit Losses The Company maintains an allowance for credit losses for expected uncollectible accounts receivable and contract assets, which is recorded as an offset to accounts receivable or contract assets and provisions for credit losses are recorded in general and administrative expense in the consolidated statements of income. Under the application of Accounting Standards Codification (“ASC”) Topic 326-20, Financial Instruments—Credit Losses (“ASC 326”), the allowance for current expected credit losses is based on a review of customer accounts and considers historical credit loss information that is adjusted for current economic and business conditions and anticipated future economic events that may impact collectability. In developing its expected credit loss estimate, the Company evaluated the appropriate grouping of accounts receivable and contract assets based upon its evaluation of risk characteristics, including consideration of region and industries of the customers. The allowance for credit losses is reviewed on a quarterly basis to assess the adequacy of the allowance. Allowance for credit losses was $0.7 million as of June 30, 2024. Short-term investments The Company invests in various types of securities, including United States government, commercial paper, and corporate debt securities. The Company classifies its investments as available-for-sale and records them at fair value based upon market prices at period end. For available-for-sale debt securities in an unrealized loss position, the Company evaluates whether a current expected credit loss exists based on available information relevant to the credit rating of the security, current economic conditions and reasonable and supportable forecasts. The allowance for credit loss is recorded in other income (expense), net, on the consolidated statements of income, not to exceed the amount of the unrealized loss. Any excess unrealized loss other than the credit loss is recognized in accumulated other comprehensive income or loss in the stockholders' equity section of the consolidated balance sheets. The cost of securities sold is based on the specific identification method and realized gains and losses are included in other income (expense), net. Dividend and interest income are recognized when earned. The Company may sell these securities at any time for use in current operations. There was no allowance for credit losses relating to the short-term investments recognized as of June 30, 2024. Revenue The Company had contract assets of $2.6 million and contract liabilities of $2.9 million as of June 30, 2024. The Company had contract assets of $2.8 million and contract liabilities of $3.0 million as of September 30, 2023. For the three and nine months ended June 30, 2024, the Company recognized revenue of $0.7 million and $2.9 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. For the three and nine months ended June 30, 2023, the Company recognized revenue of $0.6 million and $2.8 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. In addition, for all periods presented, there was no revenue recognized in a reporting period from performance obligations satisfied in previous periods. The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of June 30, 2024 was $7.1 million. The Company expects to recognize revenue over the next twelve months relating to performance obligations unsatisfied as of June 30, 2024. Based on the nature of the Company's contracts with customers, which are recognized over a term of less than 12 months, the Company has elected to use the practical expedient whereby costs to obtain a contract are expensed as they are incurred. The Company states its revenues net of any taxes collected from customers that are required to be remitted to various government agencies. The amount of taxes collected from customers and payable to governmental entities is included on the balance sheet as part of “Accrued expenses and other current liabilities.” Recent accounting pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s ASC. The Company considered the applicability and impact of all recent ASUs. ASUs not listed below were assessed and determined to be not applicable to the Company’s consolidated financial position and results of operations. Recent accounting pronouncements adopted In June 2016, FASB issued ASU No. 2016-13 “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments” and has since modified the standard with several ASUs (collectively, “Topic 326”). Topic 326 requires measurement and recognition of expected credit losses for financial assets. The ASU replaced previous incurred loss impairment guidance and established a single expected credit losses allowance framework for financial assets carried at amortized cost. It also eliminated the concept of other-than-temporary impairment and requires credit losses related to certain available-for-sale debt securities to be recorded through an allowance for credit losses. On October 1, 2023, the Company adopted this standard using a modified retrospective approach, which requires a cumulative-effect adjustment to the opening balance of retained earnings to be recognized on the date of adoption and, accordingly, recorded a net increase of $0.1 million to accumulated deficit as of the beginning of fiscal 2024. In connection with the adoption of Topic 326, the Company made an accounting policy election to not measure an allowance for credit losses for accrued interest receivable. Recently issued accounting pronouncement not yet adopted In December 2023, the FASB issued ASU No. 2023-09 "Income Taxes (Topic 740)". The amendments in this ASU require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update are effective for annual periods beginning after December 15, 2024. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-08 "Segment Reporting (Topic 280)". The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements. The Company has evaluated other recently issued accounting pronouncements and has concluded that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Fair value measurement

Fair value measurement	9 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurements . ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. 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 considering counterparty credit risk in its assessment of fair value. The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of June 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash and cash equivalents $ 239,142 $ — $ — $ 239,142 Short-term investments: U.S. government treasury bills 50,304 — (29) 50,276 Non-current assets - investment in equity securities 3,711 — — 3,711 Total $ 293,158 $ — $ (29) $ 293,129 The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of September 30, 2023: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash and cash equivalents $ 286,470 $ — $ — $ 286,470 Short-term investments: Corporate bonds 14,918 — (29) 14,889 U.S. government treasury bills 35,111 — (57) 35,054 Non-current assets - investment in equity securities 3,711 — — 3,711 Total $ 340,210 $ — $ (86) $ 340,124 As of June 30, 2024, financial assets and liabilities measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 196,413 $ — $ — $ 196,413 U.S. government treasury bills 50,276 — — 50,276 Non-current assets - investment in equity securities — — 3,711 3,711 Total $ 246,689 $ — $ 3,711 $ 250,400 Total financial liabilities $ — $ — $ — $ — As of September 30, 2023, financial assets and liabilities measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 245,654 $ — $ — $ 245,654 Corporate bonds — 14,889 — 14,889 U.S. government treasury bills 35,054 — — 35,054 Non-current assets - investment in equity securities — — 3,711 3,711 Total financial assets $ 280,708 $ 14,889 $ 3,711 $ 299,308 Total financial liabilities $ — $ — $ — $ — Contractual maturities of all the investments, as of June 30, 2024, were less than 12 months. The Company does not intend to sell the money market funds and short-term investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis. The Company's short-term investments have been in a continuous unrealized loss position for less than 12 months. Accrued interest receivable balances included in the prepaid expenses and other current assets within the condensed consolidated balance sheets were $1.0 million and $1.2 million as of June 30, 2024 and September 30, 2023, respectively. As of June 30, 2024, the gross unrealized losses on short-term investments are related to market interest rate changes and not attributable to credit. During 2021 and as amended in 2022, the Company entered into convertible promissory note agreements with a privately held company (“Borrower”) pursuant to which the Company agreed to loan to the Borrower $3.5 million in a series of loan installments, evidenced by a convertible promissory note having a maturity date of May 1, 2023 (“Convertible Note”). The Convertible Note included an option to convert the Convertible Note into the Borrower’s equity at the Borrower’s next round of equity financing, and accrued interest at a rate of 4% per annum. In April 2023, the Company exercised the option and the Borrower issued to the Company ordinary shares which represent a 15% equity interest. As of June 30, 2024, the Company’s equity investments were categorized as Level 3 within the fair value hierarchy. The equity investment held by the Company is a VIE, but the Company is not the primary beneficiary. The Company does not have the power to direct the activities that most significantly impact the economic performance of the investee. The Company’s maximum exposure to loss from this VIE consist of an equity investment of $3.7 million . Equity investments held by the Company lack readily determinable fair values and therefore the securities are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar equity securities of the same issuer. The Company reviews the carrying value of its equity investments for impairment whenever events or changes in business circumstances indicate the carrying amount of such asset may not be fully recoverable. Impairments, if any, are based on the excess of the carrying amount over the recoverable amount of the asset. There were no such impairments during the three months ended June 30, 2024 and June 30, 2023. As of June 30, 2024 and September 30, 2023, there were no financial liabilities categorized as level 3 within the fair value hierarchy. There were no transfers between Level 1, Level 2 and Level 3 in the periods presented. The following table provides a reconciliation of beginning and ending balances of the Level 3 financial assets during the three months ended June 30, 2024: (in thousands) Equity investments Total Balance as of September 30, 2023 $ 3,711 $ 3,711 Change in fair value — — Additions during the year — — Balance as of June 30, 2024 $ 3,711 $ 3,711

Balance sheet components

Balance sheet components	9 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Balance sheet components	Balance sheet components Inventories consist of the following: (in thousands) June 30, September 30, Raw materials $ 22,000 $ 27,024 Work-in-process 2,213 1,113 Finished goods 4,271 3,926 $ 28,484 $ 32,063 There is no consigned inventory balance as of June 30, 2024 and September 30, 2023. Property and Equipment, net consists of the following: (in thousands) June 30, September 30, Laboratory equipment $ 99,354 $ 104,508 Furniture, fixtures and other equipment 3,279 3,484 Vehicles 211 85 Computer equipment 3,555 3,103 Computer software 9,077 5,507 Leasehold improvements 58,197 57,271 Construction in progress 3,296 8,528 $ 176,969 $ 182,486 Less: Accumulated depreciation (70,630) (50,656) $ 106,339 $ 131,830 As of June 30, 2024, the construction in progress mainly represents equipment costs and software development costs. For the three and nine months ended June 30, 2024, the total depreciation expense was $7.0 million and $20.9 million, respectively. For the three and nine months ended June 30, 2023 the total depreciation expense was $6.9 million and $16.8 million, respectively. The Company recorded impairment charges of $9.1 million for the three and nine months ended June 30, 2024. See note 13. The other current liabilities consist of the following: (in thousands) June 30, September 30, Income and other taxes payable $ 2,343 $ 4,374 Contract liabilities 2,940 2,999 Other current liabilities 796 430 $ 6,079 $ 7,803

Goodwill and intangible assets

Goodwill and intangible assets	9 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets There were no changes to the carrying value of goodwill during the nine months ended June 30, 2024. The goodwill balance is presented below: (in thousands) June 30, 2024 September 30, 2023 Balance at beginning of period/year $ 85,811 $ 85,811 Balance at end of period/year $ 85,811 $ 85,811 The intangible assets balances are presented below: June 30, 2024 (in thousands, except for years) Weighted average Gross Impairment Accumulated Net book Developed Technology 17 $ 50,020 $ (25,198) $ (10,081) $ 14,741 Customer Relationships — 15,210 (10,541) (4,669) — Tradenames & Trademarks — 900 (125) (775) — Total finite-lived intangible assets $ 66,130 $ (35,864) $ (15,525) $ 14,741 September 30, 2023 (in thousands, except for years) Weighted average Gross Accumulated Net book Developed Technology 15 $ 50,020 $ (7,636) $ 42,384 Customer Relationships 11 15,210 (3,461) 11,749 Tradenames & Trademarks 3 $ 900 $ (550) $ 350 Total finite-lived intangible assets $ 66,130 $ (11,647) $ 54,483

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Legal proceedings The Company may be subject to litigation, claims and disputes in the ordinary course of business. There is an inherent risk in any litigation or dispute and no assurance can be given as to the outcome of any claims. Securities Class Action On December 12, 2022, a putative securities class action lawsuit captioned Peters v. Twist Bioscience Corporation, et al., Case No. 22-cv-08168 (N.D. Cal.) (“Securities Class Action”) was filed in federal court in the Northern District of California (“Court”) against the Company, its Chief Executive Officer, and its Chief Financial Officer (the “Defendants”) alleging violations of federal securities laws. The Securities Class Action’s claims are based in large part on allegations made in a report issued on November 15, 2022 by Scorpion Capital (“Scorpion Report”) concerning, among other things, the Company’s DNA chip technology and accounting practices. The initial complaint filed in the Securities Class Action alleges that various statements that the defendants made between December 13, 2019 and November 14, 2022 were materially false and misleading in light of the allegations in the Scorpion Report. The plaintiff who initiated the lawsuit sought to represent a class of shareholders who acquired shares of the Company’s common stock between December 13, 2019 and November 14, 2022 and sought damages as well as certain other costs. On July 28, 2023, the Court appointed a new plaintiff, not the original plaintiff who filed the case, as lead plaintiff in the case and appointed a new law firm as lead counsel. On October 11, 2023, the lead plaintiff filed an amended complaint. The amended complaint is purportedly brought on behalf of all persons other than the Defendants who acquired the Company’s securities between December 20, 2018 and November 15, 2022. The amended complaint alleges that certain statements regarding, among other things, the Company’s DNA products and accounting practices were false and misleading. This case remains in the preliminary stage. Given the inherent uncertainty of litigation and the legal standards that must be met, including class certification and success on the merits, the Company cannot express an opinion on the likelihood of an unfavorable outcome or on the amount or range of any potential loss. The Company and the other defendants intend to vigorously defend themselves against the claims asserted against them and filed a motion to dismiss the amended complaint on December 6, 2023, which the Court has taken under submission. Derivative Action On September 25, 2023, a shareholder derivative suit captioned Shumacher vs. Leproust et al., No. 1:23-cv-01048-UNA, was filed in the United States District Court for the District of Delaware against directors of the Company and an employee (the “Derivative Action”). The suit is based on substantially the same allegations in the Securities Class Action and seeks to recover, on behalf of the Company, damages to the Company arising from, among other things, the Securities Class Action. On November 13, 2023, the parties to the Derivative Action entered into a stipulation staying the Derivative Action pending resolution of the anticipated motion to dismiss the defendants have filed in the Securities Class Action. 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. From time to time, the Company has entered into indemnification agreements with its directors and officers that requires 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 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 2044. The Company is also responsible for utilities, maintenance, insurance, and property taxes under these leases. The Company's lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms, as well as payments for common-area-maintenance and administrative services. The Company often receives customary incentives from its landlords, such as reimbursements for tenant improvements and rent abatement periods, which effectively reduce the total lease payments owed for these leases. Leases are classified as operating or financing at commencement. The Company does not have any material financing 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 leases as of June 30, 2024 is as follows: (in thousands) June 30, Assets: Operating lease right-of-use asset $ 61,277 Current liabilities: Current portion of operating lease liabilities $ 14,555 Noncurrent liabilities: Operating lease liabilities, net of current portion $ 72,625 Future minimum lease payments under all non-cancelable operating leases that have commenced as of June 30, 2024 are as follows: (in thousands) Operating Years ending September 30: Remainder of 2024 $ 3,636 2025 14,814 2026 13,885 2027 8,371 2028 8,471 Thereafter 88,014 Total minimum lease payments $ 137,191 Less: imputed interest (50,011) Total operating lease liabilities $ 87,180 Less: current portion (14,555) Operating lease liabilities, net of current portion $ 72,625 The statement of cash flows for the nine months ended June 30, 2024 include changes in right-of-use assets and operating lease liabilities of $7.5 million and $6.9 million, respectively. For the nine months ended June 30, 2023, changes in right-of-use assets and operating lease liabilities were $2.9 million and $1.9 million, respectively.

Related party transactions

Related party transactions	9 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related party transactions	Related party transactions During the three months ended June 30, 2024 and 2023, the Company purchased raw materials from a related party in the amount of $1.7 million and $1.4 million, respectively. During the nine months ended June 30, 2024 and 2023, the purchases of raw materials from a related party were $4.5 million and $5.0 million, respectively. During the three and nine months ended June 30, 2024, the Company had revenues from the related party in the amount of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from the related party totaling $0.9 million and $3.6 million, respectively. As of June 30, 2024, payable balances and receivable balances with the related party were $0.2 million and $0.8 million, respectively. Receivable balances with the related party were $1.7 million as of September 30, 2023. Payable balances with the related parties were immaterial as of September 30, 2023.

Income taxes

Income taxes	9 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxesIn 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. For the three and nine months ended June 30, 2024, the Company recorded provisions for income taxes of $0.2 million and $0.7 million, respectively. For the three and nine months ended June 30, 2023, the Company recorded provisions for income taxes of $0.6 million and $1.4 million, respectively.

Common stock

Common stock	9 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Common stock	Common stock As of June 30, 2024, the Company had reserved sufficient shares of common stock, with a par value of $0.00001 per share, for issuance upon exercise of outstanding stock options. Each share of common stock is entitled to one vote. The holders of shares of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors.

Stock-based compensation

Stock-based compensation	9 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation The Company grants stock-based awards, consisting of stock options and restricted stock, to its employees, certain non-employee consultants and certain members of its board of directors. The Company measures stock-based compensation expense for restricted stock and stock options granted to its employees and directors on the date of grant and recognizes the corresponding compensation expense of those awards over the requisite service period, which is generally the vesting period of the respective award. The Company measures stock-based compensation expense for restricted stock and stock options granted to non-employee consultants on the date of grant and recognizes the corresponding compensation expense of those awards over the period in which the related services are received. The Company adjusts for actual forfeitures as they occur. 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”). Any shares subject to outstanding awards under the 2013 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 non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and performance units. Inducement Equity Incentive Plan On August 22, 2023, the board of directors adopted an inducement equity incentive plan (the “Inducement Plan”). The maximum aggregate number of shares that may be issued under the Inducement Plan is 700,000 of the Company's common stock. The Inducement Plan permits the grant of non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares. The shares issuable under the Inducement Plan are registered pursuant to a registration statement on Form S-8 filed with the Securities and Exchange Commission on August 25, 2023. Restricted Stock Units Restricted stock consists of restricted stock unit awards (“RSUs”) which have been granted to employees and non-employee directors. The value of an RSU award is based on the Company’s stock price on the date of grant. Employee grants generally vest over four years and non-employee director grants generally vest over one year. Forfeitures of RSUs are recognized as they occur. 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, 2024 was as follows: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2023 1,620 $ 40.73 Granted 1,414 26.10 Vested/Issued (604) 39.61 Forfeited (262) 40.08 Nonvested shares at June 30, 2024 2,168 $ 31.62 As of June 30, 2024, there was $62.3 million of total unrecognized compensation cost related to these awards that is expected to be recognized over a weighted average period of 2.6 years. The total grant date fair value of RSUs awarded during the nine months ended June 30, 2024 was $36.9 million. Performance Stock Units Performance stock unit awards (“PSUs”) granted to Company executives will vest upon achievement of multiple year revenue, gross profit and cash balance metrics as determined by the board of directors, and to certain non-employee consultants will vest upon achievement of operational milestones. Stock compensation expense for PSUs is recorded over the vesting period based on the grant date fair value of the awards and probability of the achievement of specified performance targets. The grant date fair value is equal to the closing share price of the Company’s common stock on the date of grant. For Company executives, PSUs generally vest over a two one Activity under the PSUs during the nine months ended June 30, 2024 is summarized below: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2023 932 $ 36.82 Granted 617 18.71 Vested/Issued (84) 80.67 Forfeited (81) 29.28 Nonvested shares at June 30, 2024 1,384 $ 26.52 As of June 30, 2024, the unrecognized compensation costs related to these awards was $18.1 million based on the maximum achievement of the performance targets. The Company expects to recognize those costs over a weighted average period of 1.3 years. The total grant date fair value of PSUs awarded during the nine months ended June 30, 2024 was $11.5 million. Options Options are generally granted to employees and were granted to non-employee directors until FY 2020. Stock options entitle the holder to purchase, at the end of the vesting term, a specified number of shares of Company common stock at an exercise price per share equal to the closing market price of the common stock on the date of grant. Stock options have a contractual life from the date of the grant and a vesting schedule as established by the board of directors. The maximum term of stock options granted under the 2018 Plan is 10 years and the awards generally vest over a four-year period. Forfeitures of options are recognized as they occur. The fair value of each service based stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company has not granted any stock options during the three and nine months ended June 30, 2024 or 2023. Options activity during the nine months ended June 30, 2024 is summarized below: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2023 2,119 $ 24.18 5.25 $ 6,715 Forfeited (115) 38.64 — — Exercised (261) 19.85 — 5,123 Outstanding at June 30, 2024 1,743 $23.88 4.41 $ 47,265 Nonvested at June 30, 2024 6 106.25 7.03 — Exercisable at June 30, 2024 1,737 $ 23.61 4.40 $ 47,265 As of June 30, 2024, the unrecognized compensation costs related to these awards was $0.3 million. The Company expects to recognize those costs over a weighted average period of 1.1 years. The Company did not grant any options during the nine months ended June 30, 2024. Performance Stock Options On September 1, 2020, the board of directors approved the implementation of a revised annual equity award program for executive officers, senior level employees and consultants to be granted as performance-based stock options ("PSOs") under the 2018 Plan. The PSOs issued to executive officers and senior level employees vested in prior years. The number of PSOs ultimately earned under the awards to a consultant is calculated based on the achievement of certain operational milestones. The maximum term of performance stock options granted under the 2018 Plan is 10 years for both employees and non-employees. The awards generally vest over a two-year period for executive officers and senior level employees. Awards to non-employees generally vest over a five-year period. The provisions of the PSOs are considered a performance condition, and the effects of that performance condition are not reflected in the grant date fair value of the awards. The Company used the Black-Scholes method to calculate the fair value at the grant date without regard to the vesting condition and will recognize compensation cost for the options that are expected to vest. Forfeitures of PSOs are recognized as they occur. The Company reassesses the probability of the performance condition at each reporting period and adjusts the compensation cost based on the probability assessment. As of June 30, 2024, the Company determined that 30,000 shares are expected to vest based on the probability of the performance condition that will be achieved under this equity award program. Activity under the PSOs during the nine months ended June 30, 2024 is summarized below: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2023 289 $ 60.82 7.37 $ — Nonvested at September 30, 2023 30 $ 31.29 8.57 $ — Exercisable at September 30, 2023 259 64.24 7.23 — Forfeited (12) $ 67.85 — $ — Exercisable at June 30, 2024 247 $ 64.07 6.49 $ 810 Nonvested at June 30, 2024 30 31.29 7.82 540 Outstanding at June 30, 2024 277 $ 60.53 6.63 $ 1,349 As of June 30, 2024, the unrecognized compensation costs related to these awards was $0.2 million. The Company expects to recognize those costs over a weighted average period of 0.8 years. Total stock-based compensation expense recognized was as follows: Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Cost of revenues $ 1,033 $ 1,286 $ 3,006 $ 3,898 Research and development 2,400 3,329 8,614 10,837 Selling, general and administrative 10,301 5,983 26,958 3,796 Total stock-based compensation $ 13,734 $ 10,598 $ 38,578 $ 18,531 During the three and nine months ended June 30, 2023, stock-based compensation decreased primarily as a result of departing employee share forfeitures, and a stock-based credit related to a business combination due to non-achievement of a performance condition. An immaterial amount of stock-based compensation was capitalized to inventories attributable to employees who support the manufacturing of the Company's products for the three and nine months ended June 30, 2024 and 2023. An immaterial amount of stock-based compensation was capitalized to property and equipment related to capitalized software development costs for the three and nine months ended June 30, 2024. The stock-based compensation of $0.1 million and $0.5 million was capitalized to property and equipment related to the capitalized software development costs for the three and nine months ended June 30, 2023. 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 became 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 at June 30, 2024 was as follows: (In thousands) Shares Outstanding at September 30, 2023 539 Additional shares authorized 249 Shares issued during the period (124) Outstanding at June 30, 2024 664 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 in February and August of each year, except the initial offering period which commenced with the initial public offering in October 2018 and ended on August 20, 2019. 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, 2024 ESPP expenses of $0.5 million and $1.3 million, respectively was recognized. During the three and nine months ended June 30, 2023, activity under the 2018 ESPP was immaterial. 401(k) Savings Plan During 2018, the Company adopted a 401(k) savings plan for the benefit of its employees. In January 2022, the Company modified its plan to include an employer matching contribution. The Company is required to make matching contributions to the 401(k) plan equal to 50% of the first 6% of wages deferred by each participating employee. The Company incurred expenses for employer matching contributions of $0.7 million and $2.0 million for the three and nine months ended June 30, 2024, respectively. The Company incurred expenses for employer matching contributions of $0.7 million and $2.2 million for the three and nine months ended June 30, 2023, respectively. AbX Biologics, Inc. (Abveris) Acquisition

Net loss per share attributable

Net loss per share attributable to common stockholders	9 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net loss per share attributable to common stockholders	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 Nine months ended (in thousands, except per share data) 2024 2023 2024 2023 Numerator: Net loss attributable to common stockholders $ (85,571) $ (57,395) $ (174,071) $ (158,375) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 58,145 57,041 57,806 56,753 Net loss per share attributable to common stockholders, basic and diluted $ (1.47) $ (1.01) $ (3.01) $ (2.79) The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been antidilutive for the periods presented are as follows: Three and nine months ended June 30, (in thousands) 2024 2023 Shares subject to options (including performance options) to purchase common stock 2,020 2,546 Unvested restricted stock units and performance stock units 3,552 2,371 Shares subject to employee stock purchase plan 86 78 Total 5,658 4,995

Geographic, product and industr

Geographic, product and industry information	9 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Geographic, product and industry information	Geographic, product and industry information The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of the United States of America, 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, Australia, New Zealand, Thailand and Taiwan. Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Americas $ 51,389 $ 39,016 $ 141,221 $ 107,586 EMEA 23,581 19,069 67,064 54,179 APAC 6,494 5,655 19,979 16,398 Total $ 81,464 $ 63,740 $ 228,264 $ 178,163 The table below sets forth revenues by products. Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Synthetic genes $ 24,948 $ 19,302 $ 67,031 $ 53,488 Oligo pools 4,166 3,735 12,295 10,749 DNA libraries 3,848 2,880 10,318 7,542 Antibody discovery 5,102 4,580 15,029 19,785 NGS tools 43,400 33,243 123,591 86,599 Total $ 81,464 $ 63,740 $ 228,264 $ 178,163 The table below sets forth revenues by industry. Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Industrial chemicals/materials $ 23,188 $ 16,801 $ 59,730 $ 44,785 Academic research 14,892 12,421 42,387 33,556 Healthcare 42,823 33,988 124,637 97,764 Food/agricultural 561 530 1,510 2,058 Total $ 81,464 $ 63,740 $ 228,264 $ 178,163

Impairment of long-lived assets

Impairment of long-lived assets	9 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Impairment of long-lived assets	Impairment of long-lived assets During the three months ended June 30, 2024, the Company identified an impairment indicator with respect to an asset group associated with our antibody discovery services product line (“Biopharma asset group”) due to lower than forecasted revenues. Therefore, the Company performed a recoverability test of long-lived assets by comparing the net book value of the long-lived asset group, to the future undiscounted net cash flows attributable to such assets. The Company concluded that the carrying value of the asset group was not recoverable as it exceeded the future undiscounted cash flows the assets are expected to generate from the use and eventual disposition. To measure, allocate and recognize the impairment loss, the Company estimated the fair value of the Biopharma asset group by applying a discounted cash flow method. Calculating the fair value of an asset group involves significant estimates and assumptions. These estimates and assumptions include, among others, the level and timing of revenues, operating expenses, taxes, and working capital, capital asset requirements over the remaining life of the primary asset in the asset group, and discount rates, the Company believes to be consistent with the inherent risks associated with the asset group, which was approximately 14%. Changes in these factors and assumptions used can materially affect the amount of impairment loss recognized in the period the asset group was considered impaired. The implied allocated impairment loss to any individual asset within the long-lived asset group shall not reduce the carrying amount of that asset below its fair value. The Company estimated the fair value of the developed technology intangible asset and the customer relationships intangible assets using an excess earnings model (income approach). The Company estimated the fair value of the trade name intangible asset using a relief from royalty approach. Key assumptions include the level and timing of expected future revenue, conditions and demands specific to each intangible asset over its remaining useful life. The fair value of these intangible assets is primarily affected by the projected revenues, gross margins, operating expenses, and the anticipated timing of the projected income associated with each intangible asset coupled with the discount rates used to derive their estimated present values. The Company determined the fair value of property and equipment based on a market participant perspective. For lease right-of-use assets, the Company determined the estimated fair value of the assets by comparing the discounted contractual rent payments to estimated market rent using an acceptable valuation methodology. Significant assumptions used to determine the fair values of certain lease right-of-use assets included the current market rent and discount rate. These fair value measurements were based on significant inputs not observable in the market and thus represent a Level 3 measurement. The Company believes the level and timing of expected future cash flows appropriately reflects market participant assumptions. As a result of allocating the impairment, the Company recorded the following impairment charges, which are included in “Impairment of long-lived assets” on our condensed consolidated statements of operations and comprehensive loss for the three and nine months ended June 30, 2024: Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Property and equipment $ 9,066 $ 3,620 $ 9,066 $ 3,620 Finite-lived intangible assets 35,864 — 35,864 — Total $ 44,930 $ 3,620 $ 44,930 $ 3,620

2023 Restructuring and other co

2023 Restructuring and other costs	9 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
2023 Restructuring and other costs	2023 Restructuring and other costs On May 3, 2023, the Company’s Board of Directors approved a strategic restructuring plan to reduce costs, build a leaner organization and increase operating efficiencies. The restructuring plan included a reduction in force which affected approximately 270 employees worldwide, representing approximately 25% of the Company’s total workforce. The majority of these employees separated from the Company by September 30, 2023. The reduction in force is subject to local regulatory requirements. Furthermore, as part of the plan the Company removed the duplication of synthetic biology production across its South San Francisco, California and Wilsonville, Oregon facilities. The plan was implemented beginning in May 2023 and was substantially completed by the end of fiscal year 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss attributable to common stockholders	$ (85,571)	$ (57,395)	$ (174,071)	$ (158,375)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
	Jun. 30, 2024
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, 2023 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 21, 2023. 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, 2023 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three and nine months ended June 30, 2024 are not necessarily indicative of the results expected for the full year ending September 30, 2024 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. To conform with current fiscal 2024 presentation, we reclassified $3.6 million of impairment of property and equipment included within restructuring and other costs to impairment of long-lived assets in the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended June 30, 2023. This reclassification had no impact on our condensed statement of operations and comprehensive loss for the three and nine months ended June 30, 2023.
Allowance for Credit Losses	Allowance for Credit Losses
Short-term investments	Short-term investments
Revenue	Revenue The Company had contract assets of $2.6 million and contract liabilities of $2.9 million as of June 30, 2024. The Company had contract assets of $2.8 million and contract liabilities of $3.0 million as of September 30, 2023. For the three and nine months ended June 30, 2024, the Company recognized revenue of $0.7 million and $2.9 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. For the three and nine months ended June 30, 2023, the Company recognized revenue of $0.6 million and $2.8 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. In addition, for all periods presented, there was no revenue recognized in a reporting period from performance obligations satisfied in previous periods. The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of June 30, 2024 was $7.1 million. The Company expects to recognize revenue over the next twelve months relating to performance obligations unsatisfied as of June 30, 2024. Based on the nature of the Company's contracts with customers, which are recognized over a term of less than 12 months, the Company has elected to use the practical expedient whereby costs to obtain a contract are expensed as they are incurred. The Company states its revenues net of any taxes collected from customers that are required to be remitted to various government agencies. The amount of taxes collected from customers and payable to governmental entities is included on the balance sheet as part of “Accrued expenses and other current liabilities.”
Recent accounting pronouncements	Recent accounting pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s ASC. The Company considered the applicability and impact of all recent ASUs. ASUs not listed below were assessed and determined to be not applicable to the Company’s consolidated financial position and results of operations. Recent accounting pronouncements adopted In June 2016, FASB issued ASU No. 2016-13 “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments” and has since modified the standard with several ASUs (collectively, “Topic 326”). Topic 326 requires measurement and recognition of expected credit losses for financial assets. The ASU replaced previous incurred loss impairment guidance and established a single expected credit losses allowance framework for financial assets carried at amortized cost. It also eliminated the concept of other-than-temporary impairment and requires credit losses related to certain available-for-sale debt securities to be recorded through an allowance for credit losses. On October 1, 2023, the Company adopted this standard using a modified retrospective approach, which requires a cumulative-effect adjustment to the opening balance of retained earnings to be recognized on the date of adoption and, accordingly, recorded a net increase of $0.1 million to accumulated deficit as of the beginning of fiscal 2024. In connection with the adoption of Topic 326, the Company made an accounting policy election to not measure an allowance for credit losses for accrued interest receivable. Recently issued accounting pronouncement not yet adopted In December 2023, the FASB issued ASU No. 2023-09 "Income Taxes (Topic 740)". The amendments in this ASU require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update are effective for annual periods beginning after December 15, 2024. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-08 "Segment Reporting (Topic 280)". The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements. The Company has evaluated other recently issued accounting pronouncements and has concluded that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	9 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of the Company’s cash and cash equivalents 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) June 30, September 30, Cash and cash equivalents $ 239,142 $ 286,470 Restricted cash, non-current 2,895 2,811 Total cash, cash equivalents and restricted cash $ 242,037 $ 289,281

Fair value measurement (Tables)

Fair value measurement (Tables)	9 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Cash and Cash Equivalents	The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of June 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash and cash equivalents $ 239,142 $ — $ — $ 239,142 Short-term investments: U.S. government treasury bills 50,304 — (29) 50,276 Non-current assets - investment in equity securities 3,711 — — 3,711 Total $ 293,158 $ — $ (29) $ 293,129 The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of September 30, 2023: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash and cash equivalents $ 286,470 $ — $ — $ 286,470 Short-term investments: Corporate bonds 14,918 — (29) 14,889 U.S. government treasury bills 35,111 — (57) 35,054 Non-current assets - investment in equity securities 3,711 — — 3,711 Total $ 340,210 $ — $ (86) $ 340,124
Summary of Debt Securities Available-for-Sale	The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of June 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash and cash equivalents $ 239,142 $ — $ — $ 239,142 Short-term investments: U.S. government treasury bills 50,304 — (29) 50,276 Non-current assets - investment in equity securities 3,711 — — 3,711 Total $ 293,158 $ — $ (29) $ 293,129 The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of September 30, 2023: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash and cash equivalents $ 286,470 $ — $ — $ 286,470 Short-term investments: Corporate bonds 14,918 — (29) 14,889 U.S. government treasury bills 35,111 — (57) 35,054 Non-current assets - investment in equity securities 3,711 — — 3,711 Total $ 340,210 $ — $ (86) $ 340,124
Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	As of June 30, 2024, financial assets and liabilities measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 196,413 $ — $ — $ 196,413 U.S. government treasury bills 50,276 — — 50,276 Non-current assets - investment in equity securities — — 3,711 3,711 Total $ 246,689 $ — $ 3,711 $ 250,400 Total financial liabilities $ — $ — $ — $ — As of September 30, 2023, financial assets and liabilities measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 245,654 $ — $ — $ 245,654 Corporate bonds — 14,889 — 14,889 U.S. government treasury bills 35,054 — — 35,054 Non-current assets - investment in equity securities — — 3,711 3,711 Total financial assets $ 280,708 $ 14,889 $ 3,711 $ 299,308 Total financial liabilities $ — $ — $ — $ —
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a reconciliation of beginning and ending balances of the Level 3 financial assets during the three months ended June 30, 2024: (in thousands) Equity investments Total Balance as of September 30, 2023 $ 3,711 $ 3,711 Change in fair value — — Additions during the year — — Balance as of June 30, 2024 $ 3,711 $ 3,711

Balance sheet components (Table

Balance sheet components (Tables)	9 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Summary of Inventories	Inventories consist of the following: (in thousands) June 30, September 30, Raw materials $ 22,000 $ 27,024 Work-in-process 2,213 1,113 Finished goods 4,271 3,926 $ 28,484 $ 32,063
Summary of Property, Plant and Equipment	Property and Equipment, net consists of the following: (in thousands) June 30, September 30, Laboratory equipment $ 99,354 $ 104,508 Furniture, fixtures and other equipment 3,279 3,484 Vehicles 211 85 Computer equipment 3,555 3,103 Computer software 9,077 5,507 Leasehold improvements 58,197 57,271 Construction in progress 3,296 8,528 $ 176,969 $ 182,486 Less: Accumulated depreciation (70,630) (50,656) $ 106,339 $ 131,830
Summary of Other Current Liabilities	The other current liabilities consist of the following: (in thousands) June 30, September 30, Income and other taxes payable $ 2,343 $ 4,374 Contract liabilities 2,940 2,999 Other current liabilities 796 430 $ 6,079 $ 7,803

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	9 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill balance	The goodwill balance is presented below: (in thousands) June 30, 2024 September 30, 2023 Balance at beginning of period/year $ 85,811 $ 85,811 Balance at end of period/year $ 85,811 $ 85,811
Summary of Intangible Assets	The intangible assets balances are presented below: June 30, 2024 (in thousands, except for years) Weighted average Gross Impairment Accumulated Net book Developed Technology 17 $ 50,020 $ (25,198) $ (10,081) $ 14,741 Customer Relationships — 15,210 (10,541) (4,669) — Tradenames & Trademarks — 900 (125) (775) — Total finite-lived intangible assets $ 66,130 $ (35,864) $ (15,525) $ 14,741 September 30, 2023 (in thousands, except for years) Weighted average Gross Accumulated Net book Developed Technology 15 $ 50,020 $ (7,636) $ 42,384 Customer Relationships 11 15,210 (3,461) 11,749 Tradenames & Trademarks 3 $ 900 $ (550) $ 350 Total finite-lived intangible assets $ 66,130 $ (11,647) $ 54,483

Commitments and contingencies (

Commitments and contingencies (Tables)	9 Months Ended
	Jun. 30, 2024
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 leases as of June 30, 2024 is as follows: (in thousands) June 30, Assets: Operating lease right-of-use asset $ 61,277 Current liabilities: Current portion of operating lease liabilities $ 14,555 Noncurrent liabilities: Operating lease liabilities, net of current portion $ 72,625
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under all non-cancelable operating leases that have commenced as of June 30, 2024 are as follows: (in thousands) Operating Years ending September 30: Remainder of 2024 $ 3,636 2025 14,814 2026 13,885 2027 8,371 2028 8,471 Thereafter 88,014 Total minimum lease payments $ 137,191 Less: imputed interest (50,011) Total operating lease liabilities $ 87,180 Less: current portion (14,555) Operating lease liabilities, net of current portion $ 72,625

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	Activity with respect to the Company’s restricted stock units during the nine months ended June 30, 2024 was as follows: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2023 1,620 $ 40.73 Granted 1,414 26.10 Vested/Issued (604) 39.61 Forfeited (262) 40.08 Nonvested shares at June 30, 2024 2,168 $ 31.62
Schedule of Nonvested Performance-based Units Activity	Activity under the PSUs during the nine months ended June 30, 2024 is summarized below: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2023 932 $ 36.82 Granted 617 18.71 Vested/Issued (84) 80.67 Forfeited (81) 29.28 Nonvested shares at June 30, 2024 1,384 $ 26.52
Schedule of Activity Under Option and Performance Stock Options	Options activity during the nine months ended June 30, 2024 is summarized below: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2023 2,119 $ 24.18 5.25 $ 6,715 Forfeited (115) 38.64 — — Exercised (261) 19.85 — 5,123 Outstanding at June 30, 2024 1,743 $23.88 4.41 $ 47,265 Nonvested at June 30, 2024 6 106.25 7.03 — Exercisable at June 30, 2024 1,737 $ 23.61 4.40 $ 47,265 Activity under the PSOs during the nine months ended June 30, 2024 is summarized below: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2023 289 $ 60.82 7.37 $ — Nonvested at September 30, 2023 30 $ 31.29 8.57 $ — Exercisable at September 30, 2023 259 64.24 7.23 — Forfeited (12) $ 67.85 — $ — Exercisable at June 30, 2024 247 $ 64.07 6.49 $ 810 Nonvested at June 30, 2024 30 31.29 7.82 540 Outstanding at June 30, 2024 277 $ 60.53 6.63 $ 1,349
Schedule of Stock-Based Compensation Expenses	Total stock-based compensation expense recognized was as follows: Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Cost of revenues $ 1,033 $ 1,286 $ 3,006 $ 3,898 Research and development 2,400 3,329 8,614 10,837 Selling, general and administrative 10,301 5,983 26,958 3,796 Total stock-based compensation $ 13,734 $ 10,598 $ 38,578 $ 18,531
Summary of Stock Option Valuation Assumptions	The number of shares reserved for issuance at June 30, 2024 was as follows: (In thousands) Shares Outstanding at September 30, 2023 539 Additional shares authorized 249 Shares issued during the period (124) Outstanding at June 30, 2024 664

Net loss per share attributab_2

Net loss per share attributable to common stockholders (Tables)	9 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of 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 Nine months ended (in thousands, except per share data) 2024 2023 2024 2023 Numerator: Net loss attributable to common stockholders $ (85,571) $ (57,395) $ (174,071) $ (158,375) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 58,145 57,041 57,806 56,753 Net loss per share attributable to common stockholders, basic and diluted $ (1.47) $ (1.01) $ (3.01) $ (2.79)
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 antidilutive for the periods presented are as follows: Three and nine months ended June 30, (in thousands) 2024 2023 Shares subject to options (including performance options) to purchase common stock 2,020 2,546 Unvested restricted stock units and performance stock units 3,552 2,371 Shares subject to employee stock purchase plan 86 78 Total 5,658 4,995

Geographic, product and indus_2

Geographic, product and industry information (Tables)	9 Months Ended
	Jun. 30, 2024
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 the United States of America, 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, Australia, New Zealand, Thailand and Taiwan. Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Americas $ 51,389 $ 39,016 $ 141,221 $ 107,586 EMEA 23,581 19,069 67,064 54,179 APAC 6,494 5,655 19,979 16,398 Total $ 81,464 $ 63,740 $ 228,264 $ 178,163
Summary of Revenue by Product	The table below sets forth revenues by products. Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Synthetic genes $ 24,948 $ 19,302 $ 67,031 $ 53,488 Oligo pools 4,166 3,735 12,295 10,749 DNA libraries 3,848 2,880 10,318 7,542 Antibody discovery 5,102 4,580 15,029 19,785 NGS tools 43,400 33,243 123,591 86,599 Total $ 81,464 $ 63,740 $ 228,264 $ 178,163
Summary of Revenue by Industry	The table below sets forth revenues by industry. Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Industrial chemicals/materials $ 23,188 $ 16,801 $ 59,730 $ 44,785 Academic research 14,892 12,421 42,387 33,556 Healthcare 42,823 33,988 124,637 97,764 Food/agricultural 561 530 1,510 2,058 Total $ 81,464 $ 63,740 $ 228,264 $ 178,163

Impairment of long-lived asse_2

Impairment of long-lived assets (Tables)	9 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Details of Impairment of Long-Lived Assets Held and Used by Asset	As a result of allocating the impairment, the Company recorded the following impairment charges, which are included in “Impairment of long-lived assets” on our condensed consolidated statements of operations and comprehensive loss for the three and nine months ended June 30, 2024: Three months ended Nine months ended (in thousands) 2024 2023 2024 2023 Property and equipment $ 9,066 $ 3,620 $ 9,066 $ 3,620 Finite-lived intangible assets 35,864 — 35,864 — Total $ 44,930 $ 3,620 $ 44,930 $ 3,620

The Company (Details)

The Company (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 1,207,253	$ 1,033,034
Cash, cash equivalents, and short-term investments	$ 289,400

Summary of significant accoun_4

Summary of significant accounting policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 239,142	$ 286,470
Restricted cash, non-current	2,895	2,811
Total cash, cash equivalents and restricted cash	$ 242,037	$ 289,281	$ 311,838	$ 380,259

Summary of significant accoun_5

Summary of significant accounting policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jan. 01, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property and equipment	$ 9,066	$ 3,620	$ 9,066	$ 3,620
Accounts receivable, allowance for credit loss	700		700
Contract with customer, asset, after allowance for credit loss	2,600		2,600			$ 2,800
Contract with customer, liability	2,900		2,900			3,000
Contract with customer, liability, revenue recognized	700	600	2,900	2,800
Revenue, remaining performance obligation, amount	7,100		7,100
Accumulated deficit	$ (1,207,253)		$ (1,207,253)			$ (1,033,034)
Cumulative Effect, Period of Adoption, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accumulated deficit					$ (100)
Revision of Prior Period, Reclassification, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property and equipment		$ 3,600		$ 3,600

Fair value measurement - Cash A

Fair value measurement - Cash And Cash Equivalents And Available For Sale Securities At Fair Value (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 239,142	$ 286,470
Amortized cost	293,158	340,210
Gross unrealized gains	0	0
Gross unrealized losses	(29)	(86)
Cash and cash equivalents, fair value	239,142	286,470
Equity securities, FV-NI, cost	3,711	3,711
Equity securities, FV-NI, unrealized loss	0	0
Equity securities, FV-NI, unrealized gain	0	0
Non-current assets - investment in equity securities	3,711	3,711
Fair value	293,129	340,124
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments, Amortized cost		14,918
Gross unrealized gains		0
Gross unrealized losses		(29)
Short term investments, fair value		14,889
U.S. government treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments, Amortized cost	50,304	35,111
Gross unrealized gains	0	0
Gross unrealized losses	(29)	(57)
Short term investments, fair value	$ 50,276	$ 35,054

Fair value measurement - Summar

Fair value measurement - Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Assets
Total	$ 239,142	$ 286,470
Non-current assets - investment in equity securities	3,711	3,711
Total	250,400	299,308
Liabilities
Total financial liabilities	0	0
Corporate bonds
Assets
Short term investments, fair value		14,889
U.S. government treasury bills
Assets
Short term investments, fair value	50,276	35,054
Money market funds
Assets
Total	196,413	245,654
Level 1
Assets
Non-current assets - investment in equity securities	0	0
Total	246,689	280,708
Liabilities
Total financial liabilities	0	0
Level 1 | Corporate bonds
Assets
Short term investments, fair value		0
Level 1 | U.S. government treasury bills
Assets
Short term investments, fair value	50,276	35,054
Level 1 | Money market funds
Assets
Total	196,413	245,654
Level 2
Assets
Non-current assets - investment in equity securities	0	0
Total	0	14,889
Liabilities
Total financial liabilities	0	0
Level 2 | Corporate bonds
Assets
Short term investments, fair value		14,889
Level 2 | U.S. government treasury bills
Assets
Short term investments, fair value	0	0
Level 2 | Money market funds
Assets
Total	0	0
Level 3
Assets
Non-current assets - investment in equity securities	3,711	3,711
Total	3,711	3,711
Liabilities
Total financial liabilities	0	0
Level 3 | Corporate bonds
Assets
Short term investments, fair value		0
Level 3 | U.S. government treasury bills
Assets
Short term investments, fair value	0	0
Level 3 | Money market funds
Assets
Total	$ 0	$ 0

Fair value measurement - Narrat

Fair value measurement - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, FV-NI, cost	$ 3,711	$ 3,711
Equity ownership, excluding consolidated entity and equity method investee, percentage	15%
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 3,700
Convertible Note | Convertible Notes Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, FV-NI, cost	$ 3,500
Debt instrument, interest rate, stated percentage	4%
Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest receivable	$ 1,000	$ 1,200

Fair value measurement - Summ_2

Fair value measurement - Summary of Reconciliation of Beginning and Ending Balances of the Level 3 Instruments (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of September 30, 2023	$ 3,711
Change in fair value	0
Additions during the year	0
Balance as of June 30, 2024	$ 3,711
Fair value, liability, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income	Change In Fair Value Of Contingent Consideration And Indemnity Holdback
Equity Method Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of September 30, 2023	$ 3,711
Change in fair value	0
Additions during the year	0
Balance as of June 30, 2024	$ 3,711

Balance sheet components - Inve

Balance sheet components - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 22,000	$ 27,024
Work-in-process	2,213	1,113
Finished goods	4,271	3,926
Total inventories	$ 28,484	$ 32,063

Balance sheet components - Summ

Balance sheet components - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 176,969	$ 182,486
Less: Accumulated depreciation	(70,630)	(50,656)
Property and equipment, net	106,339	131,830
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	99,354	104,508
Furniture, fixtures and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,279	3,484
Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	211	85
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,555	3,103
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,077	5,507
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	58,197	57,271
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,296	$ 8,528

Balance sheet components - Narr

Balance sheet components - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Depreciation	$ 7,000	$ 6,900	$ 20,900	$ 16,800
Property and equipment	$ 9,066	$ 3,620	$ 9,066	$ 3,620

Balance sheet components - Othe

Balance sheet components - Other current liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Income and other taxes payable	$ 2,343	$ 4,374
Contract liabilities	2,940	2,999
Other current liabilities	796	430
Other current liabilities	$ 6,079	$ 7,803

Goodwill and intangible asset_2

Goodwill and intangible assets - Summary of Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Balance at beginning of year	$ 85,811	$ 85,811
Balance at end of year	$ 85,811	$ 85,811

Goodwill and intangible asset_3

Goodwill and intangible assets - Intangible Assets Balances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 66,130		$ 66,130		$ 66,130
Impairment	(35,864)	$ 0	(35,864)	$ 0
Accumulated amortization	(15,525)		(15,525)		(11,647)
Intangible assets, net	$ 14,741		$ 14,741		$ 54,483
Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years	17 years		17 years		15 years
Gross carrying amount	$ 50,020		$ 50,020		$ 50,020
Impairment	(25,198)
Accumulated amortization	(10,081)		(10,081)		(7,636)
Intangible assets, net	14,741		14,741		$ 42,384
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years					11 years
Gross carrying amount	15,210		15,210		$ 15,210
Impairment	(10,541)
Accumulated amortization	(4,669)		(4,669)		(3,461)
Intangible assets, net	0		0		$ 11,749
Tradenames & Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years					3 years
Gross carrying amount	900		900		$ 900
Impairment	(125)
Accumulated amortization	(775)		(775)		(550)
Intangible assets, net	$ 0		$ 0		$ 350

Goodwill and intangible asset_4

Goodwill and intangible assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Total amortization expense related to intangible assets	$ 1,300	$ 1,300	$ 3,900	$ 3,900
Impairment of intangible assets, finite-lived	$ 35,864	$ 0	$ 35,864	$ 0

Commitments and contingencies -

Commitments and contingencies - Operating Leases On Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Assets:
Operating lease right-of-use assets	$ 61,277	$ 71,531
Current liabilities:
Current portion of operating lease liability	14,555	14,896
Noncurrent liabilities:
Operating lease liability, net of current portion	$ 72,625	$ 79,173

Commitments and contingencies_2

Commitments and contingencies - Minimum Rental Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2024	$ 3,636
2025	14,814
2026	13,885
2027	8,371
2028	8,471
Thereafter	88,014
Total minimum lease payments	137,191
Less: imputed interest	(50,011)
Total operating lease liabilities	87,180
Less: current portion	(14,555)	$ (14,896)
Operating lease liability, net of current portion	$ 72,625	$ 79,173

Commitments and contingencies_3

Commitments and contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Change in right-of-use asset			$ 7.5	$ 2.9
Change in operating lease liabilities			6.9	1.9
Operating lease expense	$ 3.8	$ 3.9	11.8	12.2
Operating lease payments	$ 3.7	$ 3.6	$ 11.1	$ 11.1
Lease weighted-average remaining lease term	15 years 2 months 12 days		15 years 2 months 12 days
Lease weighted average discount rate	6.50%		6.50%

Related party transactions - (D

Related party transactions - (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Related Party Transaction [Line Items]
Raw materials purchased from related party investor		$ 1,700	$ 1,400	$ 4,500	$ 5,000
Revenue	[1]	81,464	63,740	228,264	178,163
Accounts receivable, net		31,988		31,988		$ 44,064
Related Party
Related Party Transaction [Line Items]
Revenue		4,100	$ 900	9,700	$ 3,600
Accounts payable		200		200
Accounts receivable, net		$ 800		$ 800
Related party consideration						$ 1,700
[1]During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 191	$ 622	$ 656	$ 1,374

Common stock (Details)

Common stock (Details)	9 Months Ended
	Jun. 30, 2024 vote $ / shares	Sep. 30, 2023 $ / shares
Equity [Abstract]
Common stock, par value (in usd per share) | $ / shares	$ 0.00001	$ 0.00001
Number of votes per share | vote	1

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) $ in Thousands		3 Months Ended			9 Months Ended
	Sep. 26, 2018 shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Sep. 30, 2023 shares	Aug. 22, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, options		$ 300			$ 300
Stock based compensation expense (reduction)		$ 13,734	$ 10,598		$ 38,578	$ 18,531
Share-based payment arrangement, amount capitalized			(100)			(500)
Aggregate number of common stock shares reserved for issuance (in shares) | shares		664,000			664,000		539,000
Employer matching percentage					50%
Percentage of employee's gross pay matched					6%
Employer matching contributions		$ 700	$ 700		$ 2,000	$ 2,200
Abveris
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense (credit)				$ (9,900)
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
Conversion ratio					1
Unrecognized compensation cost, stock options		62,300			$ 62,300
Recognize cost weighted average period					2 years 7 months 6 days
Grant date fair value		36,900
Restricted Stock Units (RSUs) | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					1 year
Performance Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options		18,100			$ 18,100
Recognize cost weighted average period					1 year 3 months 18 days
Grant date fair value		11,500
Performance Stock Unit | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance					0%
Performance Stock Unit | Minimum | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					2 years
Performance Stock Unit | Minimum | Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					1 year
Performance Stock Unit | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance					150%
Performance Stock Unit | Maximum | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
Performance Stock Unit | Maximum | Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
Recognize cost weighted average period					1 year 1 month 6 days
Award term					10 years
Performance Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognize cost weighted average period					9 months 18 days
Award term					10 years
Unrecognized compensation cost, options		$ 200			$ 200
Performance Stock Options | Executive Officers and Senior Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					2 years
Vest outstanding (in shares) | shares		30,000			30,000
Performance Stock Options | Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					5 years
2018 ESPP | Shares subject to options (including performance options) to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (reduction)		$ 500			$ 1,300
Aggregate number of common stock shares reserved for issuance (in shares) | shares	275,225
Minimum annual increase in share reserved for issuance | shares	249,470
Annual automatic Increase in share reserved for issuance (as a percent)	1%
Percentage of payroll deduction to purchase common stock	15%
ESPP eligible employee common stock purchase price ratio	85%
Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum aggregate number of shares (in shares) | shares								700,000

Stock-based compensation expens

Stock-based compensation expense - Activity Under The Equity Incentive Plans (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Unit
Number of Shares
Beginning balance (in shares) | shares	1,620
Granted (in shares) | shares	1,414
Vested/Issued (in shares) | shares	(604)
Forfeited (in shares) | shares	(262)
Ending balance (in shares) | shares	2,168
Weighted average grant date fair value per share
Beginning balance (in usd per share) | $ / shares	$ 40.73
Granted (in usd per share) | $ / shares	26.10
Vested (in usd per share) | $ / shares	39.61
Forfeited (in usd per share) | $ / shares	40.08
Ending balance (in usd per share) | $ / shares	$ 31.62
Performance Stock Unit
Number of Shares
Beginning balance (in shares) | shares	932
Granted (in shares) | shares	617
Vested/Issued (in shares) | shares	(84)
Forfeited (in shares) | shares	(81)
Ending balance (in shares) | shares	1,384
Weighted average grant date fair value per share
Beginning balance (in usd per share) | $ / shares	$ 36.82
Granted (in usd per share) | $ / shares	18.71
Vested (in usd per share) | $ / shares	80.67
Forfeited (in usd per share) | $ / shares	29.28
Ending balance (in usd per share) | $ / shares	$ 26.52

Stock-based compensation expe_2

Stock-based compensation expense - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares
Shares
Beginning balance (in shares) | shares	2,119,000
Forfeited (in shares) | shares	(115,000)
Exercised (in shares) | shares	(261,000)
Ending balance (in shares) | shares	1,743,000	2,119,000
Number of options, Nonvested at December 31, 2022 (in shares) | shares	6,000
Number of options, Exercisable (in shares) | shares	1,737,000
Weighted average exercise price per share
Beginning balance (in usd per share) | $ / shares	$ 24.18
Forfeited (in usd per share) | $ / shares	38.64
Exercised (in dollars per share) | $ / shares	19.85
Ending balance (in usd per share) | $ / shares	23.88	$ 24.18
Weighted average exercise price per share, Nonvested at December 31, 2022 (in dollars per share) | $ / shares	106.25
Vested and exercisable (in usd per share) | $ / shares	$ 23.61
Weighted average remaining contractual term (years)
Outstanding	4 years 4 months 28 days	5 years 3 months
Weighted average remaining contractual term (years), Nonvested at December 31, 2022	7 years 10 days
Weighted average remaining contractual term (years), Exercisable	4 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance | $	$ 6,715
Exercised | $	5,123
Aggregate intrinsic value, nonvested | $	0
Aggregate intrinsic value, Vested and exercisable | $	47,265
Aggregate intrinsic value, outstanding ending balance | $	$ 47,265	$ 6,715
Performance Stock Options
Shares
Beginning balance (in shares) | shares	289,000
Forfeited (in shares) | shares	(12,000)
Ending balance (in shares) | shares	277,000	289,000
Number of options, Nonvested at December 31, 2022 (in shares) | shares	30,000	30,000
Number of options, Exercisable (in shares) | shares	247,000	259,000
Weighted average exercise price per share
Beginning balance (in usd per share) | $ / shares	$ 60.82
Forfeited (in usd per share) | $ / shares	67.85
Ending balance (in usd per share) | $ / shares	60.53	$ 60.82
Weighted average exercise price per share, Nonvested at December 31, 2022 (in dollars per share) | $ / shares	31.29	31.29
Vested and exercisable (in usd per share) | $ / shares	$ 64.07	$ 64.24
Weighted average remaining contractual term (years)
Outstanding	6 years 7 months 17 days	7 years 4 months 13 days
Weighted average remaining contractual term (years), Nonvested at December 31, 2022	7 years 9 months 25 days	8 years 6 months 25 days
Weighted average remaining contractual term (years), Exercisable	6 years 5 months 26 days	7 years 2 months 23 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance | $	$ 0
Aggregate intrinsic value, nonvested | $		$ 0
Aggregate intrinsic value, Vested and exercisable | $	810	0
Aggregate intrinsic value, Nonvested at December 31, 2022 | $	540
Aggregate intrinsic value, outstanding ending balance | $	$ 1,349	$ 0

Stock-based compensation - Expe

Stock-based compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 13,734	$ 10,598	$ 38,578	$ 18,531
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	1,033	1,286	3,006	3,898
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	2,400	3,329	8,614	10,837
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 10,301	$ 5,983	$ 26,958	$ 3,796

Stock-based compensation - Rese

Stock-based compensation - Reserved For Issuance (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2024 shares
Share-Based Compensation Arrangement By Share-based Payment Award, Outstanding [Roll Forward]
Beginning balance (in shares)	539
Additional shares authorized (in shares)	249
Shares issued during the period (in shares)	(124)
Ending balance (in shares)	664

Stock-based compensation - Abve

Stock-based compensation - Abveris Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (reduction)	$ 13,734	$ 10,598	$ 38,578	$ 18,531
Abveris | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (reduction)					$ 9,900

Net loss per share attributab_3

Net loss per share attributable to common stockholders - Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss attributable to common stockholders	$ (85,571)	$ (57,395)	$ (174,071)	$ (158,375)
Denominator:
Weighted average shares used in computing net loss per share, basic (in shares)	58,145	57,041	57,806	56,753
Weighted average shares used in computing net loss per share, diluted (in shares)	58,145	57,041	57,806	56,753
Net loss per share attributable to common stockholders—basic (in usd per share)	$ (1.47)	$ (1.01)	$ (3.01)	$ (2.79)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (1.47)	$ (1.01)	$ (3.01)	$ (2.79)

Net loss per share attributab_4

Net loss per share attributable to common stockholders - Anti-dilutive (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	5,658	4,995
Shares subject to options (including performance options) to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	2,020	2,546
Unvested restricted stock units and performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	3,552	2,371
Shares subject to employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	86	78

Geographic, product and indus_3

Geographic, product and industry information - Geographic Region (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue	[1]	$ 81,464	$ 63,740	$ 228,264	$ 178,163
Americas
Segment Reporting Information [Line Items]
Revenue		51,389	39,016	141,221	107,586
EMEA
Segment Reporting Information [Line Items]
Revenue		23,581	19,069	67,064	54,179
APAC
Segment Reporting Information [Line Items]
Revenue		$ 6,494	$ 5,655	$ 19,979	$ 16,398
[1]During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

Geographic, product and indus_4

Geographic, product and industry information - By Product (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue	[1]	$ 81,464	$ 63,740	$ 228,264	$ 178,163
Synthetic genes
Segment Reporting Information [Line Items]
Revenue		24,948	19,302	67,031	53,488
Oligo pools
Segment Reporting Information [Line Items]
Revenue		4,166	3,735	12,295	10,749
DNA libraries
Segment Reporting Information [Line Items]
Revenue		3,848	2,880	10,318	7,542
Antibody discovery
Segment Reporting Information [Line Items]
Revenue		5,102	4,580	15,029	19,785
NGS tools
Segment Reporting Information [Line Items]
Revenue		$ 43,400	$ 33,243	$ 123,591	$ 86,599
[1]During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

Geographic, product and indus_5

Geographic, product and industry information - By Industry (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue	[1]	$ 81,464	$ 63,740	$ 228,264	$ 178,163
Industrial chemicals/materials
Segment Reporting Information [Line Items]
Revenue		23,188	16,801	59,730	44,785
Academic research
Segment Reporting Information [Line Items]
Revenue		14,892	12,421	42,387	33,556
Healthcare
Segment Reporting Information [Line Items]
Revenue		42,823	33,988	124,637	97,764
Food/agricultural
Segment Reporting Information [Line Items]
Revenue		$ 561	$ 530	$ 1,510	$ 2,058
[1]During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

Impairment of long-lived asse_3

Impairment of long-lived assets - Narrative (Details)	9 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Intangible assets, Inherit risk percentage	0.14

Impairment of long-lived asse_4

Impairment of long-lived assets - Impairment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Property and equipment	$ 9,066	$ 3,620	$ 9,066	$ 3,620
Finite-lived intangible assets	35,864	0	35,864	0
Impairment of long-lived assets	$ 44,930	$ 3,620	$ 44,930	$ 3,620

2023 Restructuring and other _2

2023 Restructuring and other costs (Details) $ in Millions		3 Months Ended	9 Months Ended
	May 03, 2023 therapeutic	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated | therapeutic	270
Restructuring and related cost, number of positions eliminated, period percent	25%
2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Total		$ 12.7	$ 12.7
2023 Restructuring Plan | Severance and related benefit costs
Restructuring Cost and Reserve [Line Items]
Total		8.6	8.6
2023 Restructuring Plan | Asset Impairments
Restructuring Cost and Reserve [Line Items]
Total		3.6	3.6
2023 Restructuring Plan | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total		$ 0.4	$ 0.4