Fulgent Genetics (FLGT) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 01, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	FLGT
Entity Registrant Name	Fulgent Genetics, Inc.
Entity Central Index Key	0001674930
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,273,564
Entity File Number	001-37894
Entity Tax Identification Number	81-2621304
Entity Address, Address Line One	4978 Santa Anita Avenue
Entity Address, City or Town	Temple City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91780
City Area Code	626
Local Phone Number	350-0537
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 53,031,000	$ 11,965,000
Marketable securities	21,904,000	16,304,000
Trade accounts receivable, net of allowance for doubtful accounts of $1,169 and $751, as of September 30, 2020 and December 31, 2019, respectively	90,680,000	6,555,000
Other current assets	30,000,000	2,255,000
Total current assets	195,615,000	37,079,000
Marketable securities, long-term	29,035,000	41,947,000
Equity method investments	1,621,000	872,000
Fixed assets, net	17,385,000	5,974,000
Operating lease right-of-use asset	2,680,000	2,633,000
Other long-term assets	975,000	251,000
Total assets	247,311,000	88,756,000
Current liabilities
Accounts payable	18,674,000	1,581,000
Accrued liabilities	5,467,000	1,333,000
Income tax payable	14,627,000	24,000
Contract liabilities	18,456,000	365,000
Operating lease liabilities, short-term	512,000	420,000
Total current liabilities	57,736,000	3,723,000
Operating lease liabilities, long-term	2,231,000	2,256,000
Unrecognized tax benefits	389,000
Total liabilities	60,356,000	5,979,000
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, $0.0001 par value per share, 50,000 shares authorized, 23,307 and 21,483 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	2,000	2,000
Preferred stock, $0.0001 par value per share, 1,000 shares authorized, no shares issued or outstanding at September 30, 2020 and December 31, 2019
Additional paid-in capital	201,772,000	146,058,000
Accumulated other comprehensive income	607,000	146,000
Accumulated deficit	(15,426,000)	(63,429,000)
Total stockholders’ equity	186,955,000	82,777,000
Total liabilities and stockholders’ equity	$ 247,311,000	$ 88,756,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 1,169	$ 751
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	23,307,000	21,483,000
Common stock, shares outstanding	23,307,000	21,483,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 101,716	$ 10,347	$ 126,734	$ 24,141
Cost of revenue	26,261	3,885	38,035	10,473
Gross profit	75,455	6,462	88,699	13,668
Operating expenses:
Research and development	3,177	1,744	7,004	4,742
Selling and marketing	5,014	1,687	9,871	4,263
General and administrative	3,741	1,522	7,575	4,682
Total operating expenses	11,932	4,953	24,450	13,687
Operating income (loss)	63,523	1,509	64,249	(19)
Interest and other income, net	421	189	937	588
Income before income taxes, equity loss in investee and impairment loss	63,944	1,698	65,186	569
Provision for income taxes	14,526	61	13,961	81
Income before equity loss in investee and impairment loss	49,418	1,637	51,225	488
Equity loss in investee	(189)	(175)	(631)	(603)
Impairment loss in equity-method investment	(2,591)		(2,591)
Net income (loss)	$ 46,638	$ 1,462	$ 48,003	$ (115)
Net income (loss) per common share:
Basic	$ 2.11	$ 0.08	$ 2.20	$ (0.01)
Diluted	$ 1.98	$ 0.08	$ 2.07	$ (0.01)
Weighted-average common shares:
Basic	22,062	18,501	21,793	18,358
Diluted	23,539	19,456	23,135	18,358

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 46,638	$ 1,462	$ 48,003	$ (115)
Other comprehensive income (loss):
Foreign currency translation gain (loss)	18	(17)	17	(16)
Net unrealized gain (loss) on marketable securities, net of tax	(460)	(7)	444	230
Comprehensive income	$ 46,196	$ 1,438	$ 48,464	$ 99

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Equity Distribution Agreement	2020 Equity Distribution Agreement	Stockholders' Equity	Stockholders' EquityEquity Distribution Agreement	Stockholders' Equity2020 Equity Distribution Agreement	Additional Paid-In Capital	Additional Paid-In CapitalEquity Distribution Agreement	Additional Paid-In Capital2020 Equity Distribution Agreement	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2018	$ 51,152			$ 2			$ 114,203			$ (35)	$ (63,018)
Beginning Balance, Shares at Dec. 31, 2018				18,172,000
Equity-based compensation	583						583
Exercise of common stock options	4						4
Exercise of common stock options, Shares				9,000
Restricted stock awards, Shares				105,000
Other comprehensive gain (loss)	130									130
Net income (loss)	(1,908)										(1,908)
Ending Balance at Mar. 31, 2019	49,961			$ 2			114,790			95	(64,926)
Ending Balance, Shares at Mar. 31, 2019				18,286,000
Beginning Balance at Dec. 31, 2018	51,152			$ 2			114,203			(35)	(63,018)
Beginning Balance, Shares at Dec. 31, 2018				18,172,000
Net income (loss)	(115)
Ending Balance at Sep. 30, 2019	54,526			$ 2			117,478			179	(63,133)
Ending Balance, Shares at Sep. 30, 2019				18,673,000
Beginning Balance at Mar. 31, 2019	49,961			$ 2			114,790			95	(64,926)
Beginning Balance, Shares at Mar. 31, 2019				18,286,000
Equity-based compensation	737						737
Exercise of common stock options	5						5
Exercise of common stock options, Shares				15,000
Restricted stock awards, Shares				92,000
Other comprehensive gain (loss)	108									108
Net income (loss)	331										331
Ending Balance at Jun. 30, 2019	51,142			$ 2			115,532			203	(64,595)
Ending Balance, Shares at Jun. 30, 2019				18,393,000
Equity-based compensation	951						951
Exercise of common stock options	16						16
Exercise of common stock options, Shares				43,000
Restricted stock awards, Shares				133,000
Issuance of common stock	979						979
Issuance of common stock, Shares				104,000
Other comprehensive gain (loss)	(24)									(24)
Net income (loss)	1,462										1,462
Ending Balance at Sep. 30, 2019	54,526			$ 2			117,478			179	(63,133)
Ending Balance, Shares at Sep. 30, 2019				18,673,000
Beginning Balance at Dec. 31, 2019	$ 82,777			$ 2			146,058			146	(63,429)
Beginning Balance, Shares at Dec. 31, 2019	21,483,000			21,483,000
Equity-based compensation	$ 924						924
Exercise of common stock options	12						12
Exercise of common stock options, Shares				33,000
Restricted stock awards, Shares				159,000
Repurchases of capital stock	(46)						(46)
Repurchases of capital stock, Shares				(3,000)
Other comprehensive gain (loss)	(339)									(339)
Net income (loss)	(1,956)										(1,956)
Ending Balance at Mar. 31, 2020	81,372			$ 2			146,948			(193)	(65,385)
Ending Balance, Shares at Mar. 31, 2020				21,672,000
Beginning Balance at Dec. 31, 2019	$ 82,777			$ 2			146,058			146	(63,429)
Beginning Balance, Shares at Dec. 31, 2019	21,483,000			21,483,000
Net income (loss)	$ 48,003
Ending Balance at Sep. 30, 2020	$ 186,955			$ 2			201,772			607	(15,426)
Ending Balance, Shares at Sep. 30, 2020	23,307,000			23,307,000
Beginning Balance at Mar. 31, 2020	$ 81,372			$ 2			146,948			(193)	(65,385)
Beginning Balance, Shares at Mar. 31, 2020				21,672,000
Equity-based compensation	1,080						1,080
Exercise of common stock options	28						28
Exercise of common stock options, Shares				11,000
Restricted stock awards, Shares				127,000
Other comprehensive gain (loss)	1,242									1,242
Net income (loss)	3,321										3,321
Ending Balance at Jun. 30, 2020	87,043			$ 2			148,056			1,049	(62,064)
Ending Balance, Shares at Jun. 30, 2020				21,810,000
Equity-based compensation	3,150						3,150
Exercise of common stock options	62						62
Exercise of common stock options, Shares				6,000
Restricted stock awards, Shares				183,000
Issuance of common stock		$ 42,655	$ 7,849					$ 42,655	$ 7,849
Issuance of common stock, Shares					1,108,000	200,000
Other comprehensive gain (loss)	(442)									(442)
Net income (loss)	46,638										46,638
Ending Balance at Sep. 30, 2020	$ 186,955			$ 2			$ 201,772			$ 607	$ (15,426)
Ending Balance, Shares at Sep. 30, 2020	23,307,000			23,307,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) (unaudited) - Weighted-Average - Stockholders' Equity - $ / shares	Sep. 30, 2020	Sep. 30, 2019
Selling price per share		$ 9.37
Equity Distribution Agreement
Selling price per share	$ 38.50
2020 Equity Distribution Agreement
Selling price per share	$ 39.24

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flow from operating activities:
Net income (loss)	$ 48,003,000	$ (115,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity-based compensation	5,154,000	2,271,000
Depreciation	1,840,000	1,549,000
Noncash lease expense	345,000	306,000
Loss on disposal of fixed asset	352,000	11,000
Amortization of premium of marketable securities	327,000	52,000
Provision for bad debt	441,000	37,000
Deferred taxes	(1,083,000)	(21,000)
Unrecognized tax benefits	389,000
Equity loss in investee	631,000	603,000
Impairment loss in equity method investment	2,591,000
Other	(7,000)	41,000
Changes in operating assets and liabilities:
Accounts receivable	(84,557,000)	588,000
Other current and long-term assets	(19,176,000)	450,000
Accounts payable	14,675,000	(91,000)
Accrued liabilities and other liabilities	22,169,000	202,000
Income tax payable	14,603,000	60,000
Operating lease liabilities	(325,000)	(310,000)
Net cash provided by operating activities	6,372,000	5,633,000
Cash flow from investing activities:
Purchases of fixed assets	(11,336,000)	(721,000)
Proceeds from disposal of fixed assets	8,000
Purchase of marketable securities	(13,563,000)	(11,846,000)
Maturities of marketable securities	13,119,000	19,600,000
Proceeds from sale of marketable securities	8,072,000
Purchase of equipment contributed to equity method investee	(1,380,000)
Investment in equity method investee	(2,591,000)
Net cash (used in) provided by investing activities	(7,671,000)	7,033,000
Cash flow from financing activities:
Proceeds from public offerings of common stock, net of issuance costs	42,292,000	1,110,000
Proceeds from exercise of stock options	102,000	26,000
Repurchases of capital stock	(46,000)
Net cash provided by financing activities	42,348,000	1,136,000
Effect of exchange rate changes on cash and cash equivalents	17,000	(16,000)
Net increase in cash and cash equivalents	41,066,000	13,786,000
Cash and cash equivalents at beginning of period	11,965,000	6,736,000
Cash and cash equivalents at end of period	53,031,000	20,522,000
Supplemental disclosures of cash flow information:
Income taxes paid	28,000	20,000
Supplemental disclosures of non-cash investing and financing activities:
Purchases of fixed assets in accounts payable	2,822,000	880,000
Operating lease right-of-use assets obtained in exchange for lease liabilities	393,000	110,000
Public offerings proceeds included in other current assets	8,407,000
Public offerings costs included in accounts payable	$ 374,000	$ 131,000

Overview and Basis of Presentat

Overview and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Overview and Basis of Presentation	Note 1. Overview and Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. These financial statements include the assets, liabilities, revenues and expenses of all wholly-owned subsidiaries and entities in which the Company has a controlling financial interest or is deemed to be the primary beneficiary. In determining whether the Company is the primary beneficiary of an entity, the Company applies a qualitative approach that determines whether it has both (i) the power to direct the economically significant activities of the entity and (ii) the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to that entity. The Company uses the equity method to account for its investments in entities that it does not control, but in which it has the ability to exercise significant influence over operating and financial policies. All significant intercompany accounts and transactions are eliminated from the accompanying condensed consolidated financial statements. Nature of the Business Fulgent Genetics, Inc., together with its subsidiaries, collectively referred to as the Company, unless otherwise noted or the context otherwise requires, is a technology company offering comprehensive genetic testing providing physicians with clinically actionable diagnostic information they can use to improve the quality of patient care. The Company has developed a proprietary technology platform that allows it to offer a broad and flexible test menu and continually expand and improve its proprietary genetic reference library, while maintaining accessible pricing, high accuracy and competitive turnaround times. Combining next generation sequencing, or NGS, with its technology platform, the Company performs full-gene sequencing with deletion/duplication analysis in single-gene tests; pre-established, multi-gene, disease-specific panels; and customized panels that can be tailored to meet specific customer needs. In 2019, the Company launched its first patient-initiated product, Picture Genetics, a new line of at-home screening tests that combines the Company’s advanced NGS solutions with actionable results and genetic counseling options for individuals. Since March 2020, the Company has commercially launched several tests for the detection of SARS-CoV-2, the virus that causes the novel coronavirus, or COVID-19, including NGS and Unaudited Interim Financial Information The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the Company’s financial statements and, in the opinion of management, all adjustments, which normal recurring , necessary for a fair of the financial position and results of results for periods are not necessarily indicative of the results be expected for The accompanying Condensed Consolidated Balance Sheet as of December 31, 2019 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the disclosures required by U.S. GAAP. with the Company’s audited consolidated financial statements included in the 2019 Annual Report, including the notes thereto.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies See the summary Company’s significant accounting policies set forth in the notes to its consolidated included in the 2019 Annual Report. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting periods. These estimates, judgments and assumptions are based on historical data and experience available at the date of the accompanying condensed consolidated financial statements, as well as various other factors management believes to be reasonable under the circumstances, including but not limited to the potential impacts arising from the recent global pandemic related to COVID-19. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from these estimates. On an on-going basis, management evaluates its estimates, primarily those related to: (i) revenue recognition criteria, (ii) accounts receivable and allowances for doubtful accounts, (iii) the useful lives of fixed assets, (iv) estimates of tax liabilities and (v) valuation of equity method investments. Foreign Currency Translation and Foreign Currency Transactions The Company translates the assets and liabilities of its non-U.S. dollar functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. Expenses for these subsidiaries are translated using rates that approximate those in effect during the period. Gains and losses from these translations are recognized in foreign currency translation included in accumulated other comprehensive income (loss) in the accompanying Condensed Consolidated Statements of Stockholders’ Equity. Gains and losses from these translations were not significant in the three and nine months ended September 30, 2020 and 2019. The Company and its subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period, and inventories, property and nonmonetary assets and liabilities at historical rates. Loss from these remeasurements were $3,000 and $62,000 in the three and nine months ended September 30, 2020. Gain and losses from these remeasurements were not significant Leases The Company determines if an arrangement is a lease at inception. Operating leases are included as operating lease right-of-use, or ROU, assets, operating lease liabilities, short-term, and operating lease liabilities, long-term, on the Company’s Condensed Consolidated Balance Sheets. Lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term, including options to extend the lease when it is reasonably certain that the Company will exercise that option. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments since its leases do not provide an implicit rate. The lease ROU asset includes any base rent payments made and excludes lease incentives and variable operating expenses. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Concentration of Customers In certain periods, a small number of customers has accounted for a significant portion of the Company’s revenue. After aggregating customers that are under common control or are affiliates, one customer contributed 37% and 35% of the Company’s revenue for the three and nine months ended September 30, 2020, respectively. One customer contributed 40% and 33% of the Company’s revenue for the three and nine months ended September 30, 2019, respectively. Two customers comprised 29% and 26%, respectively, of total accounts receivable as of September 30, 2020. No customer comprised 10% or more of total accounts receivable as of December 31, 2019. Revenue from Contracts with Customers Disaggregation of Revenue The Company classifies its customers into three payor types, Institutional, including hospitals, medical institutions, other laboratories, governmental bodies, municipalities and large corporations, Patients who pay directly or Insurance, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. The following table summarizes revenue from contracts with customers by payor type for the three and nine months ended September 30, 2020 and 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Testing Services by payor Institutional $ 34,527 $ 10,031 $ 58,459 $ 23,310 Patient 1,078 128 1,339 373 Insurance 66,111 188 66,936 458 Total Revenue $ 101,716 $ 10,347 $ 126,734 $ 24,141 Contract Balances Receivables from contracts with customers —As of September 30, 2020 and December 31, 2019, receivables from contracts with customers were approximately $90.7 million and $6.6 million, respectively, and are included within trade accounts receivable on the Condensed Consolidated Balance Sheets. Contracts assets and liabilities —As of September 30, 2020 and December 31, 2019, contract assets from contracts with customers were $1.5 million and $150,000, respectively, associated with contract execution and certain costs to fulfill a contract, and included in other current assets in the accompanying Condensed Consolidated Balance Sheets. Contract liabilities are recorded when the Company receives payment or bills prior to completing its obligation to transfer goods or services to a customer. The Company had $18.5 million and $365,000 of contract liabilities as of September 30, 2020 and December 31, 2019, respectively. Revenues of $252,000 and $48,000 for the three months and $254,000 and $37,000 for the nine months were recognized for the periods ended September 30, 2020 and 2019, respectively, related to contract liabilities at the beginning of the respective periods were recognized. Transaction Price Allocated to Future Performance Obligations The Company does not have material future obligations associated with testing services that extend beyond one year. Recent Accounting Pronouncements The Company evaluates all Accounting Standards Updates, or ASUs, issued by the Financial Accounting Standards Board, or FASB, for consideration of their applicability. ASUs not included in the Company’s disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on the Company’s condensed consolidated financial statements. ASU No. 2016-13 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments ASU No. 2018-15 In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ASU No. 2019-12 In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) he requirement to recognize a deferred tax liability for equity method investments, the ability not to recognize a deferred tax liability for a foreign subsidiary, and the general methodology for calculating income taxes in an interim period. Other changes include requiring entities to recognize franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, evaluate tax basis step-up in goodwill obtained in a transaction that is not a business combination, and reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date, making minor codification improvements for income taxes related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method, and specifying that an entity is not required to allocate the consolidated current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements. For public business entities, this amendment is effective beginning after December 15, 2020

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Marketable Securities	Note 3. Marketable Securities The Company’s marketable securities consisted of the following: September 30, 2020 Amortized Cost Basis Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Marketable securities: Short-term Money market accounts $ 38,101 $ — $ — $ 38,101 Corporate debt securities 21,739 165 — 21,904 Less: Cash equivalents (38,101 ) — — (38,101 ) Total short-term marketable securities 21,739 165 — 21,904 Long-term Corporate debt securities 27,422 609 — 28,031 U.S. government agency securities 1,000 4 — 1,004 Total long-term marketable securities 28,422 613 — 29,035 Total marketable securities $ 50,161 $ 778 $ — $ 50,939 December 31, 2019 Amortized Cost Basis Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Marketable securities: Short-term Money market accounts $ 4,700 $ — $ — $ 4,700 Corporate debt securities 17,962 43 (2 ) 18,003 Less: Cash equivalents (6,399 ) — — (6,399 ) Total short-term marketable securities 16,263 43 (2 ) 16,304 Corporate debt securities 41,861 116 (30 ) 41,947 Total long-term marketable securities 41,861 116 (30 ) 41,947 Total marketable securities $ 58,124 $ 159 $ (32 ) $ 58,251 There were no gross unrealized losses on the Company’s marketable securities as of September 30, 2020. Gross unrealized losses on the Company’s marketable securities were $32,000 as of December 31, 2019.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements The authoritative guidance on fair value measurements establishes a framework with respect to measuring assets and liabilities at fair value on a recurring basis and non-recurring basis. Under the framework, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as of the measurement date. The framework also establishes a three-tier hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability and are developed based on the best information available in the circumstances. The hierarchy consists of the following three levels: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Inputs are unobservable inputs for the asset or liability. The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy: September 30, 2020 Total Level 1 Level 2 Level 3 (in thousands) Marketable securities and cash equivalents: Corporate debt securities $ 49,935 $ — $ 49,935 $ — U.S. government agency securities 1,004 — 1,004 — Money market accounts 38,101 38,101 — — Total marketable securities and cash equivalents $ 89,040 $ 38,101 $ 50,939 $ — December 31, 2019 Total Level 1 Level 2 Level 3 (in thousands) Marketable securities and cash equivalents: Corporate debt securities $ 59,950 $ — $ 59,950 $ — Money market accounts 4,700 4,700 — — Total marketable securities and cash equivalents $ 64,650 $ 4,700 $ 59,950 $ — The Company’s Level 1 assets include money market instruments and are valued based upon observable market prices. Level 2 assets consist of U.S. government agency securities and corporate debt securities. Level 2 securities are valued based upon observable inputs that include reported trades, broker/dealer quotes, bids and offers. As of September 30, 2020, the Company had no investments that were measured using unobservable (Level 3) inputs. There were no transfers between fair value measurement levels during the three and nine months ended September 30, 2020. There were no g ross unrealized losses for cash equivalents and marketable securities as of . As of , there were no unrealized losses for securities in an unrealized loss position for more than 12 months. During the nine months ended , the Company did not recognize other-than-temporary impairment losses related to its marketable securities.

Fixed Assets

Fixed Assets	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Fixed Assets	Note 5. Fixed Assets Major classes of fixed assets consisted of the following: September 30, December 31, Useful Lives 2020 2019 (in thousands) Medical lab equipment 5 Years $ 13,207 $ 10,493 Computer hardware 3 Years 1,939 1,705 Computer software 3 Years 541 541 Furniture and fixtures 5 Years 434 235 General equipment 5 Years 38 — Automobile 5 Years 31 — Leasehold improvements Shorter of lease term or estimated useful life 1,525 876 Assets not yet placed in service 9,485 114 Total 27,200 13,964 Accumulated depreciation (9,815 ) (7,990 ) Property and equipment, net $ 17,385 $ 5,974 Depreciation expense on fixed assets totaled $722,000 and $503,000 for the three months and $1.8 million and $1.5 million for the nine months ended September 30, 2020 and 2019, respectively.

Significant Balance Sheet Accou

Significant Balance Sheet Accounts	9 Months Ended
	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Significant Balance Sheet Accounts	Note 6. Significant Balance Sheet Accounts Other current assets consisted of the following: September 30, December 31, 2020 2019 (in thousands) Reagents and supplies $ 17,747 $ 277 Other receivable 8,414 16 Prepaid expenses 2,055 1,288 Contract assets 1,476 150 Marketable securities interest receivable 294 478 Prepaid income taxes 14 46 Total $ 30,000 $ 2,255 Reagents and supplies includes reagents used for DNA sequencing applications in the Company’s DNA sequencing equipment and collection kits for COVID-19 tests. Other receivable primarily consists of proceeds to be received from public offerings of the Company’s common stock.

Reporting Segment and Geographi

Reporting Segment and Geographic Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Reporting Segment and Geographic Information	Note 7. Reporting Segment and Geographic Information The Company views its operations and manages its business in one reporting segment. Long-lived assets were primarily located in the United States as of September 30, 2020 and December 31, 2019 with an insignificant amount located in Canada. Revenue by region during the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Revenue: United States $ 100,223 $ 8,479 $ 122,000 $ 18,779 Foreign: Canada 376 548 1,324 1,602 Other Countries 1,117 1,320 3,410 3,760 Total $ 101,716 $ 10,347 $ 126,734 $ 24,141

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Operating Leases See Note 9, Leases, for further information. FF Gene Biotech See Note 14, Equity Method Investments, for a description of the Company’s commitments related to its joint venture, FF Gene Biotech (as defined in Note 14). Purchase Obligations As of September 30, 2020, the Company had non-cancelable purchase obligations of $13.1 million, which is payable within twelve months, for computer equipment, medical lab equipment, reagents and other supplies. Contingencies From time to time, the Company may be subject to legal proceedings and claims arising in the ordinary course of business. In the opinion of management, the outcome of these matters would not have a material effect on the Company’s consolidated financial position, results of operations or cash flows.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Note 9. Leases The Company has various non-cancelable operating leases with varying terms through August 2023 primarily for office space. The Company has options to renew some of these leases for three years after their expiration. The determination of whether an arrangement contains a lease is made at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether the Company obtains substantially all of the economic benefits from and has the ability to direct the use of the asset. The Company’s headquarters is located in Temple City, California, which is comprised of various corporate offices and a laboratory certified under the Clinical Laboratory Improvement Amendments of 1988, or CLIA, accredited by the College of American Pathologists, or CAP, and licensed by the State of California Department of Public Health. Additional offices are located in El Monte, California and Atlanta, Georgia and are used for certain research and development, customer service, report generation and other administrative functions. During the three months ended September 30, 2020, the Company opened another CLIA-certified laboratory in Houston, Texas to expand its capacity. The Company adopted new accounting standard Accounting Standards Codification, or ASC, 842, Leases As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on information available at the commencement date in determining the discount rate used to calculate present value lease payment. The Company determined its incremental borrowing rate based on inquiries with its bank. The Company’s lease agreements do not contain any residual value guarantees, material restrictive covenants, bargain purchase options or asset retirement obligations. Lease expense for the Company’s operating leases is recognized on a straight-line basis over the lease term. The Company’s leases do not contain variable lease payments. The following was operating lease expense: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (in thousands) Operating lease cost $ 167 $ 146 $ 468 $ 438 Short-term lease cost 56 — 59 — Total lease cost $ 223 $ 146 $ 527 $ 438 Supplemental cash flow information related to leases was the following: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 336 $ 140 $ 647 $ 391 Noncash lease expense $ 125 $ 105 $ 345 $ 306 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 110 $ 393 $ 110 Supplemental information related to leases was the following: September 30, 2020 Weighted average remaining lease term - operating leases 5.0 years Weighted average discount rate - operating leases 5.87 % The following is a maturity analysis of operating lease liabilities using undiscounted cash flows on an annual basis with renewal periods included: Operating Leases (in thousands) Year Ending December 31, 2020 (remaining 3 months) $ 164 2021 662 2022 668 2023 637 2024 400 2025 387 Thereafter 262 Total lease payments 3,180 Less imputed interest (437 ) Total $ 2,743

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	Note 10. Equity-Based Compensation The Company has included equity-based compensation expense as part of cost of revenue and operating expenses in the accompanying Condensed Consolidated Statements of Operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Cost of revenue $ 428 $ 174 $ 929 $ 483 Research and development 887 279 1,563 690 Selling and marketing 1,184 332 1,577 643 General and administrative 651 166 1,085 455 Total $ 3,150 $ 951 $ 5,154 $ 2,271

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes Provision for income taxes consists of U.S. federal and state income taxes. A deferred tax liability is recognized for all taxable temporary differences, and a deferred tax asset is recognized for all deductible temporary differences, operating losses and tax credit carryforwards. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. In order to determine the Company’s quarterly provision for income taxes, the Company used an estimated annual effective tax rate for the full fiscal year ending December 31, 2020, which is based on expected annual income and statutory tax rates in the various jurisdictions in which the Company operates, adjusted for discrete items recognized during the period. Certain significant or unusual items are separately recognized in the quarter during which they occur and can cause the effective tax rate to vary from quarter to quarter. As of September 30, 2020, the Company has unrecognized income tax benefits related to federal and state R&D credits totaling $389,000. If recognized, the unrecognized tax benefits would be recorded as a benefit to income tax expense on the Consolidated Statements of Operations. The Company does not currently anticipate significant changes in the amount of unrecognized income tax benefits over the next year. The Company’s effective tax rates were 23% and 21% for the three and nine months ended September 30, 2020, respectively, compared with 4% and 14% for the three and nine months ended September 30, 2019, respectively. The change in effective tax rates for the three and nine months ended September 30, 2020, relative to the comparative 2019 periods, was primarily attributable to a significant increase in income for the three and nine months ended September 30, 2020, partially offset by a reduction in the valuation allowance on deferred tax assets and increased windfall tax deductions related to stock-based compensation.

Income (Loss) per Share

Income (Loss) per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Income (Loss) per Share	Note 12. Income (Loss) per Share The following table presents the calculation of basic and diluted income (loss) per share Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands, except per share data) Net income (loss) $ 46,638 $ 1,462 $ 48,003 $ (115 ) Weighted-average common shares—outstanding, basic 22,062 18,501 21,793 18,358 Weighted-average common shares—outstanding, diluted 23,539 19,456 23,135 18,358 Net income (loss) per common share, basic $ 2.11 $ 0.08 $ 2.20 $ (0.01 ) Net income (loss) per common share, diluted $ 1.98 $ 0.08 $ 2.07 $ (0.01 ) The following securities have been excluded from the calculation of diluted income (loss) per share because their effect would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Options — 19 10 351 Restricted Stock Units 5 20 167 1,056 The anti-dilutive shares described above were calculated using the treasury stock method. During the nine months ended September 30, 2019, the Company had outstanding stock options and restricted stock units that were excluded from the weighted-average share calculation due to the Company’s net loss position.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Parties	Note 13. Related Parties Linda Marsh, who is a member of the Company’s board of directors, is currently the Senior Executive Vice President of AHMC Healthcare Inc. The Spouse of our founder, Chief Executive Officer and Chairman of our board of directors, Ming Hsieh, is the owner of JEM Enterprise, or JEM. In the three months ended September 30, 2020, the Company purchased $200,000 of office furniture and supplies from JEM. The Company believed $200,000 was a fair market price for the furniture purchased. As of September 30, 2020, no money was owed to JEM by the Company in connection with this relationship. As more fully described in Note 14, Equity Method Investments, in April 2017, the Company, through an affiliated company formed for the purpose of the relationship, entered into a cooperation agreement, or JV Agreement, with Xilong Scientific Co., Ltd., or Xilong Scientific, and Fuzhou Jinqiang Investment Partnership (LP), or FJIP, to form a joint venture under the laws of the People’s Republic of China, or PRC, called Fujian Fujun Gene Biotech Co., Ltd., or FF Gene Biotech. Xilong Scientific is an affiliate of Xi Long USA, Inc., a company which at one point owned greater than 10% of the Company’s common stock. XiLong USA, Inc. has since reported beneficial ownership of 4.92% of the Company’s common stock in a Schedule 13G filed with the SEC on June 12, 2020. FJIP is owned by key management of FF Gene Biotech, including Dr. Han Lin Gao, the Chief Scientific Officer and a large stockholder of the Company and the owner of approximately 25% of FJIP.

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2020
Equity Method Investments And Joint Ventures [Abstract]
Equity Method Investments	Note 14. Equity Method Investments FF Gene Biotech In April 2017, the Company, through an affiliated company formed for the purpose of the relationship, entered into the JV Agreement with Xilong Scientific and FJIP to form FF Gene Biotech, a joint venture formed under the laws of the PRC to offer genetic testing services to customers in the PRC. Pursuant to the terms of the JV Agreement, the Company has agreed to contribute to FF Gene Biotech genetic sequencing and other equipment with a total cost of 60,000,000 renminbi, or RMB, over a five-year period for a 30% ownership interest in FF Gene Biotech (previously three-year per original agreement and amended in April 2019). Xilong Scientific has agreed to contribute to FF Gene Biotech 102,000,000 RMB over a five-year period for a 51% ownership interest in the FF Gene Biotech (previously three-year per original agreement and amended in April 2019). FJIP has agreed to contribute to FF Gene Biotech 19,000,000 RMB over a ten-year period for a 19% ownership interest in FF Gene Biotech (previously five-year per original agreement and amended in April 2019). The Company’s maximum exposure to fund losses of FF Gene Biotech as a result of its minority ownership of this entity is equal to its contribution obligation under the JV Agreement as described above. As of , 29,700,000 RMB (or approximately $4.4 million U.S. dollars) remains to be contributed to the investee under the terms of the JV agreement. To date, the Company has purchased and contributed equipment with an aggregate fair value of $4.5 million pursuant to its contribution commitment under the JV Agreement., of which, $1.4 million was contributed in the nine months ended September 30, 2020. The Company accounted for this contribution in accordance with ASC 845, Nonmonetary Transactions , and recorded an investment based on the fair value of the contributed equipment, which is the same as carryover basis. The Company concluded FF Gene Biotech is a variable interest entity not have significant and Judgment regarding the level of influence over FF Gene Biotech includes consideration of key factors such as the Company's ownership interest, representation on the board of directors or other management body and participation in policy-making decisions. The Company accounts for its 30% interest in FF Gene Biotech using the equity method of accounting. The Company recorded its proportionate share of the losses of FF Gene Biotech in the three and nine months ended September 30, 2020 in the accompanying Condensed Consolidated Statements of Operations, and recorded its contribution to date, net of its proportionate share in the accumulated losses of FF Gene Biotech, in the accompanying Condensed Consolidated Balance Sheet as of . Summarize Financial Information In the nine months ended September 30, 2020, FF Gene did not constitute 20 percent or more of the Company’s consolidated assets, equity or income from continuing operation, thus the results of operations of FF Gene was not significant to the Company. Summarized financial information for FF Gene Biotech for the nine months ended September 30, 2019 is as follows. Nine Months Ended September 30, 2019 Consolidated Statements of Operations Data: (in thousands) Net sales $ 2,126 Gross profit 1,123 Net loss (2,322 ) Share of loss from investments accounted for using the equity method (603 ) BostonMolecules, Inc. In September 2020, the Company entered into a Series A Preferred Stock Purchase Agreement, or the Series A Purchase Agreement, with BostonMolecules, Inc., or BostonMolecules, a Delaware corporation, pursuant to which the Company purchased 333 shares of Series A Preferred Stock of BostonMolecules, $0.0001 par value per share, or the BostonMolecules Shares, at a purchase price of $7,500 per share and an aggregate purchase price of $2.5 million. The BostonMolecules Shares represent an approximate 25% ownership interest in BostonMolecules. In connection with its purchase of the BostonMolecules Shares, the Company was granted the right to designate a member of BostonMolecules board of directors and the Company has designated Ming Hsieh to hold this position. The Company concluded that it has the ability to exercise significant influence over the operating and financial policies of BostonMolecules and therefore concluded the purchase is an equity-method investment. Judgment regarding the level of influence over BostonMolecules includes consideration of key factors such as the Company's ownership interest and representation on the board of directors. The Company initially accounted for its 25% interest in BostonMolecules using the equity method of accounting. The primary purpose of the investment was to gain access to certain technologies and products BostonMolecules was developing, however, after the investment was made, similar products became available in the market, and the development of BostonMolecules’ products was delayed. Since the current expected performance of BostonMolecules is significantly worse than anticipated when the investment was initially made and recoverability of the Company's investment is not expected, the Company determined its investment has been fully impaired. Total investment and direct costs associated with the investment were $2.6 million for the nine months ended September 30, 2020. The Company recorded the impairment loss using the equity method in the accompanying Condensed Consolidated Statements of Operations. The Company also entered into a distribution agreement with BostonMolecules in June 2020, or the Distribution Agreement, and upon the closing of the aforementioned investment, the Distribution Agreement was amended and restated, as amended and restated, the Amended Distribution Agreement. P ursuant to the Amended Distribution Agreement, the Company will purchase, use and distribute COVID-19 test kits from BostonMolecules and offer a testing service using these test kits for its customers within the United States and Canada. Pursuant to the Amended Distribution Agreement, the Company may purchase the COVID-19 test kits from BostonMolecules at a price that is no less favorable than the lowest price charged by BostonMolecules to any third party in the United States and Canada for these test kits or their substantial equivalent during the same calendar year. The Company did not purchase any test kits from BostonMolecules in the three and nine months ended September 30, 2020. Equity method investments as of September 30, 2020 September 30, 2020 December 31, 2019 Carrying Value Ownership Percentage Carrying Value Ownership Percentage (in thousands) FF Gene Biotech $ 1,621 30 % $ 872 30 % BostonMolecules — 25 % — 0 % Total equity method investments $ 1,621 $ 872

Equity Distribution Agreements

Equity Distribution Agreements	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Equity Distribution Agreements	Note 15. Equity Distribution Agreements In August 2019, the Company entered into an Equity Distribution Agreement, or the Equity Distribution Agreement, with Piper Sandler & Co. (formerly known as Piper Jaffray & Co.), or Piper, as sales agent, as amended on August 4, 2020, pursuant to which the Company offered and sold, from time to time through Piper, shares of its common stock having an aggregate offering price of $44.9 million. Piper received a commission of up to 3% of the gross proceeds received by the Company for sales pursuant to the Equity Distribution Agreement. During the three months ended September 30, 2020, the Company sold an aggregate of 1,107,884 shares of its common stock pursuant to the Equity Distribution Agreement at a weighted-average selling price of $38.50 per share, which resulted in $42.7 million of net proceeds to the Company. Shares sold under the Equity Distribution Agreement were offered and sold pursuant to the Company’s registration statement on Form S-3 (File No. 333-233227) filed with the SEC on August 12, 2019 and declared effective on August 23, 2019, and prospectus supplements and accompanying base prospectus filed with the Securities and Exchange Commission on August 30, 2019, May 6, 2020 and August 5, 2020. In September 2020, the Company entered into an Equity Distribution Agreement, or the 2020 Equity Distribution Agreement, with Piper as sales agent, pursuant to which the Company may offer and sell, from time to time through Piper, shares of its common stock having an aggregate offering price of up to $125.0 million. Piper may receive a commission of up to 3% of the gross proceeds received by the Company for sales pursuant to the 2020 Equity Distribution Agreement. During the three months ended September 30, 2020, the Company sold an aggregate of 200,000 shares of its common stock pursuant to the 2020 Equity Distribution Agreement at a weighted-average selling price of $39.24 per share, which resulted in $7.8 million of net proceeds to the Company. Shares sold under the 2020 Equity Distribution Agreement were offered and sold pursuant to the Company’s registration statement on Form S-3 (File No. 333-239964) filed with the SEC on July 21, 2020, as amended on August 5, 2020, and declared effective on August 12, 2020, and prospectus supplement and accompanying base prospectus filed with the Securities and Exchange Commission on September 25, 2020.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	Note 16. Subsequent Event On October 20, 2020, the Company closed escrow relating to an Agreement for Purchase and Sale of Property, or Purchase Agreement, for the purchase of real property located at 4399-4401 Santa Anita Avenue, El Monte, California, or the Property, from 4401 Santa Anita Corporation, a California corporation, or the Seller. The Company paid an aggregate of $15.4 million in exchange for the Property which consists of approximately 61,612 total square feet of building situated on 2.6 acres of land. In connection with the signing of the Purchase Agreement the Company provided a refundable $350,000 deposit to Seller, which was included in other current assets in the accompanying Condensed Consolidated Balance Sheets The $15.0 million paid in connection with the close of escrow was financed using a margin loan with the custodian of the Company’s marketable security investment account. The marketable securities in the brokerage account were used as collateral for the margin loan. The custodian can issue a margin call at any time. The interest rate on the margin loan was the effective federal funds rate, or EFFR, plus a spread, and the EFFR and/or the spread can be changed by Bank of New York at any time. The interest was 1% at the time of withdrawal of $15.0 million from the margin account. The Company did not make any other withdrawals from the margin account. Subsequent to September 30, 2020, the Company sold an aggregate of 940,018 shares of its common stock pursuant to the 2020 Equity Distribution Agreement at a weighted-average selling price of $43.48 per share, which resulted in $40.9 million of gross proceeds to the Company. Shares sold under the 2020 Equity Distribution Agreement were offered and sold pursuant to the Company’s registration statement on Form S-3 (File No. 333-239964) filed with the SEC on July 21, 2020, as amended on August 5, 2020, and declared effective on August 12, 2020, and prospectus supplement and accompanying base prospectus filed with the Securities and Exchange Commission on September 25, 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting periods. These estimates, judgments and assumptions are based on historical data and experience available at the date of the accompanying condensed consolidated financial statements, as well as various other factors management believes to be reasonable under the circumstances, including but not limited to the potential impacts arising from the recent global pandemic related to COVID-19. As the extent and duration of the impacts from COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from these estimates. On an on-going basis, management evaluates its estimates, primarily those related to: (i) revenue recognition criteria, (ii) accounts receivable and allowances for doubtful accounts, (iii) the useful lives of fixed assets, (iv) estimates of tax liabilities and (v) valuation of equity method investments.
Foreign Currency Translation and Foreign Currency Transactions	Foreign Currency Translation and Foreign Currency Transactions The Company translates the assets and liabilities of its non-U.S. dollar functional currency subsidiaries into U.S. dollars using exchange rates in effect at the end of each period. Expenses for these subsidiaries are translated using rates that approximate those in effect during the period. Gains and losses from these translations are recognized in foreign currency translation included in accumulated other comprehensive income (loss) in the accompanying Condensed Consolidated Statements of Stockholders’ Equity. Gains and losses from these translations were not significant in the three and nine months ended September 30, 2020 and 2019. The Company and its subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period, and inventories, property and nonmonetary assets and liabilities at historical rates. Loss from these remeasurements were $3,000 and $62,000 in the three and nine months ended September 30, 2020. Gain and losses from these remeasurements were not significant
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included as operating lease right-of-use, or ROU, assets, operating lease liabilities, short-term, and operating lease liabilities, long-term, on the Company’s Condensed Consolidated Balance Sheets. Lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term, including options to extend the lease when it is reasonably certain that the Company will exercise that option. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments since its leases do not provide an implicit rate. The lease ROU asset includes any base rent payments made and excludes lease incentives and variable operating expenses. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Concentration of Customers	Concentration of Customers In certain periods, a small number of customers has accounted for a significant portion of the Company’s revenue. After aggregating customers that are under common control or are affiliates, one customer contributed 37% and 35% of the Company’s revenue for the three and nine months ended September 30, 2020, respectively. One customer contributed 40% and 33% of the Company’s revenue for the three and nine months ended September 30, 2019, respectively. Two customers comprised 29% and 26%, respectively, of total accounts receivable as of September 30, 2020. No customer comprised 10% or more of total accounts receivable as of December 31, 2019.
Revenue from Contracts with Customers	Revenue from Contracts with Customers Disaggregation of Revenue The Company classifies its customers into three payor types, Institutional, including hospitals, medical institutions, other laboratories, governmental bodies, municipalities and large corporations, Patients who pay directly or Insurance, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. The following table summarizes revenue from contracts with customers by payor type for the three and nine months ended September 30, 2020 and 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Testing Services by payor Institutional $ 34,527 $ 10,031 $ 58,459 $ 23,310 Patient 1,078 128 1,339 373 Insurance 66,111 188 66,936 458 Total Revenue $ 101,716 $ 10,347 $ 126,734 $ 24,141 Contract Balances Receivables from contracts with customers —As of September 30, 2020 and December 31, 2019, receivables from contracts with customers were approximately $90.7 million and $6.6 million, respectively, and are included within trade accounts receivable on the Condensed Consolidated Balance Sheets. Contracts assets and liabilities —As of September 30, 2020 and December 31, 2019, contract assets from contracts with customers were $1.5 million and $150,000, respectively, associated with contract execution and certain costs to fulfill a contract, and included in other current assets in the accompanying Condensed Consolidated Balance Sheets. Contract liabilities are recorded when the Company receives payment or bills prior to completing its obligation to transfer goods or services to a customer. The Company had $18.5 million and $365,000 of contract liabilities as of September 30, 2020 and December 31, 2019, respectively. Revenues of $252,000 and $48,000 for the three months and $254,000 and $37,000 for the nine months were recognized for the periods ended September 30, 2020 and 2019, respectively, related to contract liabilities at the beginning of the respective periods were recognized. Transaction Price Allocated to Future Performance Obligations The Company does not have material future obligations associated with testing services that extend beyond one year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company evaluates all Accounting Standards Updates, or ASUs, issued by the Financial Accounting Standards Board, or FASB, for consideration of their applicability. ASUs not included in the Company’s disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on the Company’s condensed consolidated financial statements. ASU No. 2016-13 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments ASU No. 2018-15 In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ASU No. 2019-12 In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) he requirement to recognize a deferred tax liability for equity method investments, the ability not to recognize a deferred tax liability for a foreign subsidiary, and the general methodology for calculating income taxes in an interim period. Other changes include requiring entities to recognize franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, evaluate tax basis step-up in goodwill obtained in a transaction that is not a business combination, and reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date, making minor codification improvements for income taxes related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method, and specifying that an entity is not required to allocate the consolidated current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements. For public business entities, this amendment is effective beginning after December 15, 2020

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Standards Update 2014-09
Summary of Revenue from Contracts with Customers by Payor Type	The following table summarizes revenue from contracts with customers by payor type for the three and nine months ended September 30, 2020 and 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Testing Services by payor Institutional $ 34,527 $ 10,031 $ 58,459 $ 23,310 Patient 1,078 128 1,339 373 Insurance 66,111 188 66,936 458 Total Revenue $ 101,716 $ 10,347 $ 126,734 $ 24,141

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Summary of Marketable Securities	The Company’s marketable securities consisted of the following: September 30, 2020 Amortized Cost Basis Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Marketable securities: Short-term Money market accounts $ 38,101 $ — $ — $ 38,101 Corporate debt securities 21,739 165 — 21,904 Less: Cash equivalents (38,101 ) — — (38,101 ) Total short-term marketable securities 21,739 165 — 21,904 Long-term Corporate debt securities 27,422 609 — 28,031 U.S. government agency securities 1,000 4 — 1,004 Total long-term marketable securities 28,422 613 — 29,035 Total marketable securities $ 50,161 $ 778 $ — $ 50,939 December 31, 2019 Amortized Cost Basis Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Marketable securities: Short-term Money market accounts $ 4,700 $ — $ — $ 4,700 Corporate debt securities 17,962 43 (2 ) 18,003 Less: Cash equivalents (6,399 ) — — (6,399 ) Total short-term marketable securities 16,263 43 (2 ) 16,304 Corporate debt securities 41,861 116 (30 ) 41,947 Total long-term marketable securities 41,861 116 (30 ) 41,947 Total marketable securities $ 58,124 $ 159 $ (32 ) $ 58,251

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy	The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy: September 30, 2020 Total Level 1 Level 2 Level 3 (in thousands) Marketable securities and cash equivalents: Corporate debt securities $ 49,935 $ — $ 49,935 $ — U.S. government agency securities 1,004 — 1,004 — Money market accounts 38,101 38,101 — — Total marketable securities and cash equivalents $ 89,040 $ 38,101 $ 50,939 $ — December 31, 2019 Total Level 1 Level 2 Level 3 (in thousands) Marketable securities and cash equivalents: Corporate debt securities $ 59,950 $ — $ 59,950 $ — Money market accounts 4,700 4,700 — — Total marketable securities and cash equivalents $ 64,650 $ 4,700 $ 59,950 $ —

Fixed Assets (Tables)

Fixed Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Major Classes of Fixed Assets	Major classes of fixed assets consisted of the following: September 30, December 31, Useful Lives 2020 2019 (in thousands) Medical lab equipment 5 Years $ 13,207 $ 10,493 Computer hardware 3 Years 1,939 1,705 Computer software 3 Years 541 541 Furniture and fixtures 5 Years 434 235 General equipment 5 Years 38 — Automobile 5 Years 31 — Leasehold improvements Shorter of lease term or estimated useful life 1,525 876 Assets not yet placed in service 9,485 114 Total 27,200 13,964 Accumulated depreciation (9,815 ) (7,990 ) Property and equipment, net $ 17,385 $ 5,974

Significant Balance Sheet Acc_2

Significant Balance Sheet Accounts (Tables)	9 Months Ended
	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following: September 30, December 31, 2020 2019 (in thousands) Reagents and supplies $ 17,747 $ 277 Other receivable 8,414 16 Prepaid expenses 2,055 1,288 Contract assets 1,476 150 Marketable securities interest receivable 294 478 Prepaid income taxes 14 46 Total $ 30,000 $ 2,255

Reporting Segment and Geograp_2

Reporting Segment and Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summary of Revenue by Geographic Region	Revenue by region during the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Revenue: United States $ 100,223 $ 8,479 $ 122,000 $ 18,779 Foreign: Canada 376 548 1,324 1,602 Other Countries 1,117 1,320 3,410 3,760 Total $ 101,716 $ 10,347 $ 126,734 $ 24,141

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Operating Lease Expense	The following was operating lease expense: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (in thousands) Operating lease cost $ 167 $ 146 $ 468 $ 438 Short-term lease cost 56 — 59 — Total lease cost $ 223 $ 146 $ 527 $ 438
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was the following: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 336 $ 140 $ 647 $ 391 Noncash lease expense $ 125 $ 105 $ 345 $ 306 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 110 $ 393 $ 110
Schedule of Supplemental Information Related to Leases	Supplemental information related to leases was the following: September 30, 2020 Weighted average remaining lease term - operating leases 5.0 years Weighted average discount rate - operating leases 5.87 %
Schedule of Maturity Analysis of Operating Lease Liabilities using Undiscounted Cash Flows on an Annual Basis	The following is a maturity analysis of operating lease liabilities using undiscounted cash flows on an annual basis with renewal periods included: Operating Leases (in thousands) Year Ending December 31, 2020 (remaining 3 months) $ 164 2021 662 2022 668 2023 637 2024 400 2025 387 Thereafter 262 Total lease payments 3,180 Less imputed interest (437 ) Total $ 2,743

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Equity-Based Compensation	The Company has included equity-based compensation expense as part of cost of revenue and operating expenses in the accompanying Condensed Consolidated Statements of Operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Cost of revenue $ 428 $ 174 $ 929 $ 483 Research and development 887 279 1,563 690 Selling and marketing 1,184 332 1,577 643 General and administrative 651 166 1,085 455 Total $ 3,150 $ 951 $ 5,154 $ 2,271

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of the Basic and Diluted Income (Loss) Per Share Computations	The following table presents the calculation of basic and diluted income (loss) per share Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands, except per share data) Net income (loss) $ 46,638 $ 1,462 $ 48,003 $ (115 ) Weighted-average common shares—outstanding, basic 22,062 18,501 21,793 18,358 Weighted-average common shares—outstanding, diluted 23,539 19,456 23,135 18,358 Net income (loss) per common share, basic $ 2.11 $ 0.08 $ 2.20 $ (0.01 ) Net income (loss) per common share, diluted $ 1.98 $ 0.08 $ 2.07 $ (0.01 )
Anti-dilutive Securities Excluded from Calculation of Diluted (Income) Loss Per Share	The following securities have been excluded from the calculation of diluted income (loss) per share because their effect would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Options — 19 10 351 Restricted Stock Units 5 20 167 1,056

Equity Method Investments (Tabl

Equity Method Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Equity Method Investments And Joint Ventures [Abstract]
Summary of Financial Information for Equity Method Investees	Summarized financial information for FF Gene Biotech for the nine months ended September 30, 2019 is as follows. Nine Months Ended September 30, 2019 Consolidated Statements of Operations Data: (in thousands) Net sales $ 2,126 Gross profit 1,123 Net loss (2,322 ) Share of loss from investments accounted for using the equity method (603 )
Schedule of Equity Method Investments	Equity method investments as of September 30, 2020 September 30, 2020 December 31, 2019 Carrying Value Ownership Percentage Carrying Value Ownership Percentage (in thousands) FF Gene Biotech $ 1,621 30 % $ 872 30 % BostonMolecules — 25 % — 0 % Total equity method investments $ 1,621 $ 872

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)Customer	Sep. 30, 2019USD ($)Customer	Sep. 30, 2020USD ($)Customer	Sep. 30, 2019USD ($)Customer	Dec. 31, 2019USD ($)Customer
Summary Of Significant Accounting Policies [Line Items]
Foreign currency, Gains (losses) from remeasurements	$ (3,000)		$ (62,000)
Receivables from contract with customers	90,680,000		90,680,000		$ 6,555,000
Contract liabilities	18,456,000		18,456,000		365,000
Contract with customer liability, revenue recognized	$ 252,000	$ 48,000	$ 254,000	$ 37,000
Practical expedient not to disclose amount of transaction price allocated to unsatisfied performance obligations			true
Accounting Standards Update 2018-15
Summary Of Significant Accounting Policies [Line Items]
Accounting standards update, adopted	true		true
Accounting standards update, immaterial effect	true		true
Other Current Assets
Summary Of Significant Accounting Policies [Line Items]
Contract assets from contract with customers	$ 1,500,000		$ 1,500,000		$ 150,000
Customer Concentration Risk | Revenue
Summary Of Significant Accounting Policies [Line Items]
Number of customers | Customer	1	1	1	1
Customer Concentration Risk | Revenue | Customer One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	37.00%	40.00%	35.00%	33.00%
Customer Concentration Risk | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Number of customers | Customer			2		0
Customer Concentration Risk | Accounts Receivable | Minimum
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage					10.00%
Customer Concentration Risk | Accounts Receivable | Customer One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			29.00%
Customer Concentration Risk | Accounts Receivable | Customer Two
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			26.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Revenue from Contracts with Customers by Payor Type (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	$ 101,716	$ 10,347	$ 126,734	$ 24,141
Accounting Standards Update 2014-09
Disaggregation Of Revenue [Line Items]
Type of Revenue [Extensible List]	flgt:TestingServicesMember	flgt:TestingServicesMember	flgt:TestingServicesMember	flgt:TestingServicesMember
Revenue from contracts with customers by payor type	$ 101,716	$ 10,347	$ 126,734	$ 24,141
Clinical Institutional Contracts | Accounting Standards Update 2014-09
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	34,527	10,031	58,459	23,310
Clinical Patient Contracts | Accounting Standards Update 2014-09
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	1,078	128	1,339	373
Clinical Insurance Contracts | Accounting Standards Update 2014-09
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	$ 66,111	$ 188	$ 66,936	$ 458

Marketable Securities - Summary

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Marketable securities, Amortized Cost Basis	$ 50,161	$ 58,124
Marketable securities, Unrealized Gains	778	159
Marketable securities, Unrealized Losses		(32)
Marketable securities, Aggregate Fair Value	50,939	58,251
Cash and cash equivalents	53,031	11,965
Less: Cash equivalents	(38,101)	(6,399)
Short-Term Marketable Securities
Schedule Of Available For Sale Securities [Line Items]
Marketable securities, Amortized Cost Basis	21,739	16,263
Marketable securities, Unrealized Gains	165	43
Marketable securities, Unrealized Losses		(2)
Marketable securities, Aggregate Fair Value	21,904	16,304
Short-Term Marketable Securities | Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Marketable securities, Amortized Cost Basis	21,739	17,962
Marketable securities, Unrealized Gains	165	43
Marketable securities, Unrealized Losses		(2)
Marketable securities, Aggregate Fair Value	21,904	18,003
Long-Term Marketable Securities
Schedule Of Available For Sale Securities [Line Items]
Marketable securities, Amortized Cost Basis	28,422	41,861
Marketable securities, Unrealized Gains	613	116
Marketable securities, Unrealized Losses		(30)
Marketable securities, Aggregate Fair Value	29,035	41,947
Long-Term Marketable Securities | Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Marketable securities, Amortized Cost Basis	27,422	41,861
Marketable securities, Unrealized Gains	609	116
Marketable securities, Unrealized Losses		(30)
Marketable securities, Aggregate Fair Value	28,031	41,947
Long-Term Marketable Securities | U.S. Government Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Marketable securities, Amortized Cost Basis	1,000
Marketable securities, Unrealized Gains	4
Marketable securities, Aggregate Fair Value	1,004
Short Term Marketable Securities | Money Market Accounts
Schedule Of Available For Sale Securities [Line Items]
Cash and cash equivalents	38,101	4,700
Cash and cash equivalents fair value disclosure	$ 38,101	$ 4,700

Marketable Securities - Additio

Marketable Securities - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Gross unrealized loss	$ 0	$ 32,000

Fair Value Measurements - Infor

Fair Value Measurements - Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	$ 50,939	$ 58,251
Fair Value Measurements Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities and cash equivalents	89,040	64,650
Fair Value Measurements Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities and cash equivalents	38,101	4,700
Fair Value Measurements Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities and cash equivalents	50,939	59,950
Fair Value Measurements Recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities and cash equivalents	0	0
Fair Value Measurements Recurring | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	49,935	59,950
Fair Value Measurements Recurring | Corporate Debt Securities | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value Measurements Recurring | Corporate Debt Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	49,935	59,950
Fair Value Measurements Recurring | Corporate Debt Securities | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair Value Measurements Recurring | U.S. Government Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	1,004
Fair Value Measurements Recurring | U.S. Government Agency Securities | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	0
Fair Value Measurements Recurring | U.S. Government Agency Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	1,004
Fair Value Measurements Recurring | U.S. Government Agency Securities | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total marketable securities	0
Fair Value Measurements Recurring | Money Market Accounts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents fair value disclosure	38,101	4,700
Fair Value Measurements Recurring | Money Market Accounts | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents fair value disclosure	38,101	4,700
Fair Value Measurements Recurring | Money Market Accounts | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents fair value disclosure	0	0
Fair Value Measurements Recurring | Money Market Accounts | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents fair value disclosure	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair value asset, investments measured using unobservable inputs	$ 0
Fair value assets, transfers between levels, amount	0
Gross unrealized losses for cash equivalents and marketable securities	0	$ 32,000
Unrealized losses for securities in an unrealized loss position for more than 12 months	0
Other-than-temporary impairment losses related to marketable securities	$ 0

Fixed Assets - Major Classes of

Fixed Assets - Major Classes of Fixed Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 27,200	$ 13,964
Accumulated depreciation	(9,815)	(7,990)
Fixed assets, net	17,385	5,974
Medical Lab Equipment
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 13,207	10,493
Useful life in years	5 years
Computer Hardware
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 1,939	1,705
Useful life in years	3 years
Computer Software
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 541	541
Useful life in years	3 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 434	235
Useful life in years	5 years
General Equipment
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 38
Useful life in years	5 years
Automobile
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 31
Useful life in years	5 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 1,525	876
Useful life in years	Shorter of lease term or estimated useful life
Assets Not Yet Placed in Service
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 9,485	$ 114

Fixed Assets - Additional Infor

Fixed Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property Plant And Equipment [Abstract]
Depreciation expense on fixed assets	$ 722,000	$ 503,000	$ 1,840,000	$ 1,549,000

Significant Balance Sheet Acc_3

Significant Balance Sheet Accounts - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Reagents and supplies	$ 17,747	$ 277
Other receivable	8,414	16
Prepaid expenses	2,055	1,288
Contract assets	1,476	150
Marketable securities interest receivable	294	478
Prepaid income taxes	14	46
Total	$ 30,000	$ 2,255

Reporting Segment and Geograp_3

Reporting Segment and Geographical Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020Segment
Segment Reporting [Abstract]
Number of reporting segments	1

Reporting Segment and Geograp_4

Reporting Segment and Geographical Information - Summary of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 101,716	$ 10,347	$ 126,734	$ 24,141
United States
Segment Reporting Information [Line Items]
Revenue	100,223	8,479	122,000	18,779
Canada
Segment Reporting Information [Line Items]
Revenue	376	548	1,324	1,602
Other Countries
Segment Reporting Information [Line Items]
Revenue	$ 1,117	$ 1,320	$ 3,410	$ 3,760

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Sep. 30, 2020USD ($)
Computer Equipment, Medical Lab Equipment, Reagents and Other Supplies
Commitments And Contingencies [Line Items]
Non-cancelable purchase obligations, payable within twelve months	$ 13.1

Leases - Additional Information

Leases - Additional Information (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)Lease	Sep. 30, 2020USD ($)Lease	Dec. 31, 2019USD ($)	Jan. 01, 2019USD ($)
Lessee Lease Description [Line Items]
Operating leases term of expiration		2023-08
Operating leases, renewal term	3 years	3 years
Long-term ROU assets	$ 2,680,000	$ 2,680,000	$ 2,633,000	$ 3,000,000
Short-term lease liabilities	512,000	512,000	420,000	384,000
Long-term lease liabilities	2,231,000	2,231,000	2,256,000	$ 2,600,000
Impact to retained earnings upon adoption of new accounting standard	$ (15,426,000)	$ (15,426,000)	$ (63,429,000)
Accounting Standards Update 2016-02
Lessee Lease Description [Line Items]
Accounting standards update, adopted	true	true
Accounting standards update, adopted date	Jan. 1, 2019	Jan. 1, 2019
Cumulative Effect Period Of Adoption Adjustment | Accounting Standards Update 2016-02
Lessee Lease Description [Line Items]
Impact to retained earnings upon adoption of new accounting standard	$ 0	$ 0
Office Space Lease
Lessee Lease Description [Line Items]
Long-term ROU assets	393,000	393,000
Short-term lease liabilities	58,000	58,000
Long-term lease liabilities	$ 335,000	$ 335,000
Number of operating leases entered | Lease		3
Number of short-term leases entered | Lease	9	13

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 167	$ 146	$ 468	$ 438
Short-term lease cost	56		59
Total lease cost	$ 223	$ 146	$ 527	$ 438

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 336	$ 140	$ 647	$ 391
Noncash lease expense	$ 125	105	345	306
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 110	$ 393	$ 110

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Information Related to Leases (Details)	Sep. 30, 2020
Leases [Abstract]
Weighted average remaining lease term - operating leases	5 years
Weighted average discount rate - operating leases	5.87%

Leases - Schedule of Maturity A

Leases - Schedule of Maturity Analysis of Operating Lease Liabilities using Undiscounted Cash Flows on an Annual Basis (Details) $ in Thousands	Sep. 30, 2020USD ($)
Leases [Abstract]
2020 (remaining 3 months)	$ 164
2021	662
2022	668
2023	637
2024	400
2025	387
Thereafter	262
Total lease payments	3,180
Less imputed interest	(437)
Total	$ 2,743

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Equity-Based Compensation Expenses as Part of Cost of Revenue and Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Equity-based compensation expense	$ 3,150	$ 951	$ 5,154	$ 2,271
Cost of Revenue
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Equity-based compensation expense	428	174	929	483
Research and Development
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Equity-based compensation expense	887	279	1,563	690
Selling and Marketing
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Equity-based compensation expense	1,184	332	1,577	643
General and Administrative
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Equity-based compensation expense	$ 651	$ 166	$ 1,085	$ 455

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Unrecognized income tax benefit	$ 389,000		$ 389,000
Effective income tax rate	23.00%	4.00%	21.00%	14.00%

Income (Loss) per Share - Recon

Income (Loss) per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ 46,638	$ 3,321	$ (1,956)	$ 1,462	$ 331	$ (1,908)	$ 48,003	$ (115)
Weighted-average common shares—outstanding, basic	22,062			18,501			21,793	18,358
Weighted-average common shares—outstanding, diluted	23,539			19,456			23,135	18,358
Net income (loss) per common share, basic	$ 2.11			$ 0.08			$ 2.20	$ (0.01)
Net income (loss) per common share, diluted	$ 1.98			$ 0.08			$ 2.07	$ (0.01)

Income (Loss) per Share - Anti-

Income (Loss) per Share - Anti-dilutive Securities Excluded from Calculation of Diluted Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted loss per share		19	10	351
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted loss per share	5	20	167	1,056

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Apr. 30, 2017
Xilong Scientific | Minimum
Related Party Transaction [Line Items]
Ownership percentage of common stock outstanding shares	10.00%	10.00%
AHMC Healthcare Inc. | Genetic Sequencing Services
Related Party Transaction [Line Items]
Revenue from related parties	$ 1,300,000	$ 1,300,000
Due from related parties	1,200,000	1,200,000
JEM Enterprise | Office Furniture and Supplies
Related Party Transaction [Line Items]
Purchased from related parties	200,000
Due to related parties	0	0
Fair market price of furniture purchased	$ 200,000	$ 200,000
FF Gene Biotech | FJIP
Related Party Transaction [Line Items]
Ownership percentage			19.00%
FF Gene Biotech | Dr. Han Lin Gao | FJIP
Related Party Transaction [Line Items]
Ownership percentage	25.00%	25.00%
Beneficial Ownership | XiLong USA
Related Party Transaction [Line Items]
Ownership percentage of common stock outstanding shares	4.92%	4.92%

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended		9 Months Ended	42 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares	Apr. 30, 2017CNY (¥)	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2020CNY (¥)	Dec. 31, 2019
FF Gene Biotech
Schedule Of Equity Method Investments [Line Items]
Contribution to be made in joint venture | ¥		¥ 60,000,000
Contribution period in joint venture		5 years
Previous contribution period in joint venture		3 years
Ownership interest to be made in joint venture	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%
Contributions remain for joint venture	$ 4.4		$ 4.4	$ 4.4	¥ 29,700,000
FF Gene Biotech | Maximum [Member] | Equity Method Investment, Nonconsolidated Investee
Schedule Of Equity Method Investments [Line Items]
Percentage of consolidated assets, equity and income from continuing operations	20.00%		20.00%	20.00%	20.00%
FF Gene Biotech | Equipment
Schedule Of Equity Method Investments [Line Items]
Contributions made to joint venture | $			$ 1.4	$ 4.5
Boston Molecules, Inc.
Schedule Of Equity Method Investments [Line Items]
Ownership interest to be made in joint venture	25.00%		25.00%	25.00%	25.00%	0.00%
Investment and Direct Costs | $			$ 2.6
Boston Molecules, Inc. | Series A Preferred Stock
Schedule Of Equity Method Investments [Line Items]
Ownership interest to be made in joint venture	25.00%		25.00%	25.00%	25.00%
Number of shares purchased | shares	333
Selling price per share | $ / shares	$ 0.0001		$ 0.0001	$ 0.0001
Purchase price per share | $ / shares	$ 7,500		$ 7,500	$ 7,500
Payments to aggregate purchase price | $	$ 2.5
Xilong Scientific | FF Gene Biotech
Schedule Of Equity Method Investments [Line Items]
Contribution to be made in joint venture | ¥		¥ 102,000,000
Contribution period in joint venture		5 years
Previous contribution period in joint venture		3 years
Ownership interest to be made in joint venture		51.00%
FJIP | FF Gene Biotech
Schedule Of Equity Method Investments [Line Items]
Contribution to be made in joint venture | ¥		¥ 19,000,000
Contribution period in joint venture		10 years
Previous contribution period in joint venture		5 years
Ownership interest to be made in joint venture		19.00%

Equity Method Investments - Sum

Equity Method Investments - Summary of Financial Information for Equity Method Investees, Statement of Operations Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule Of Equity Method Investments [Line Items]
Gross profit	$ 75,455	$ 6,462	$ 88,699	$ 13,668
Net loss			48,003	(115)
Share of loss from investments accounted for using the equity method	$ (189)	$ (175)	$ (631)	(603)
FF Gene Biotech | Equity Method Investment, Nonconsolidated Investee
Schedule Of Equity Method Investments [Line Items]
Net sales				2,126
Gross profit				1,123
Net loss				(2,322)
Share of loss from investments accounted for using the equity method				$ (603)

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Apr. 30, 2017
Schedule Of Equity Method Investments [Line Items]
Carrying Value	$ 1,621	$ 872
FF Gene Biotech
Schedule Of Equity Method Investments [Line Items]
Carrying Value	$ 1,621	$ 872
Ownership percentage	30.00%	30.00%	30.00%
Boston Molecules, Inc.
Schedule Of Equity Method Investments [Line Items]
Ownership percentage	25.00%	0.00%

Equity Distribution Agreements

Equity Distribution Agreements - Additional Information (Detail) - Common Stock - USD ($)	1 Months Ended		3 Months Ended
	Sep. 30, 2020	Aug. 31, 2019	Sep. 30, 2020
Equity Distribution Agreement
Equity Distribution Agreements [Line Items]
Aggregate offering price		$ 44,900,000
Number of shares sold			1,107,884
Sale of stock, weighted average selling price per share			$ 38.50
Net proceeds from sale of stock			$ 42,700,000
Equity Distribution Agreement | Maximum [Member]
Equity Distribution Agreements [Line Items]
Percentage of commission to be paid from gross proceeds		3.00%
2020 Equity Distribution Agreement
Equity Distribution Agreements [Line Items]
Number of shares sold			200,000
Sale of stock, weighted average selling price per share			$ 39.24
Net proceeds from sale of stock			$ 7,800,000
2020 Equity Distribution Agreement | Maximum [Member]
Equity Distribution Agreements [Line Items]
Aggregate offering price	$ 125,000,000
Percentage of commission to be paid from gross proceeds	3.00%

Subsequent Event- Additional In

Subsequent Event- Additional Information (Details)	Nov. 09, 2020USD ($)$ / sharesshares	Oct. 20, 2020USD ($)ft²a	Sep. 30, 2020USD ($)$ / sharesshares
2020 Equity Distribution Agreement | Common Stock
Subsequent Event [Line Items]
Number of shares sold | shares			200,000
Sale of stock, weighted average selling price per share | $ / shares			$ 39.24
Gross proceeds from sale of stock			$ 7,800,000
Subsequent Event
Subsequent Event [Line Items]
Payments to aggregate purchase price		$ 15,400,000
Area of property (Square feet) | ft²		61,612
Area of land (acres) | a		2.6
Refundable deposit		$ 350,000
Payments for remaining amount owed to purchase agreement		15,000,000
Payments for closing of escrow, financed under margin loan		$ 15,000,000
Interest on loan withdrawn from margin account		1.00%
Subsequent Event | 2020 Equity Distribution Agreement | Common Stock
Subsequent Event [Line Items]
Number of shares sold | shares	940,018
Sale of stock, weighted average selling price per share | $ / shares	$ 43.48
Gross proceeds from sale of stock	$ 40,900,000