Cover
Cover | 9 Months Ended |
Sep. 30, 2022 shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2022 |
Document Transition Report | false |
Entity File Number | 001-39388 |
Entity Registrant Name | Berkeley Lights, Inc. |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 35-2415390 |
Entity Address, Address Line One | 5858 Horton Street, Suite 320 |
Entity Address, City or Town | Emeryville |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 94608 |
City Area Code | 510 |
Local Phone Number | 858-2855 |
Title of 12(b) Security | Common stock, $0.00005 par value |
Trading Symbol | BLI |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 68,574,957 |
Entity Central Index Key | 0001689657 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 120,640 | $ 178,096 |
Short-term marketable securities | 14,075 | 0 |
Trade accounts receivable | 20,255 | 25,942 |
Inventory | 15,706 | 14,547 |
Prepaid expenses and other current assets | 10,285 | 11,985 |
Total current assets | 180,961 | 230,570 |
Restricted cash | 0 | 270 |
Property and equipment, net | 27,704 | 27,992 |
Operating lease right-of-use assets | 24,118 | 26,060 |
Other assets | 2,101 | 2,361 |
Total assets | 234,884 | 287,253 |
Current liabilities: | ||
Trade accounts payable | 7,921 | 8,198 |
Accrued expenses and other current liabilities | 16,243 | 12,425 |
Current portion of notes payable | 2,483 | 0 |
Deferred revenue | 7,733 | 12,128 |
Total current liabilities | 34,380 | 32,751 |
Notes payable | 17,327 | 19,762 |
Deferred revenue, net of current portion | 1,433 | 2,187 |
Lease liability, long-term | 23,561 | 24,337 |
Total liabilities | 76,701 | 79,037 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Common stock, $0.00005 par value. Authorized 300,000,000 shares at September 30, 2022 and December 31, 2021; issued and outstanding 68,574,957 and 67,595,535 shares at September 30, 2022 and December 31, 2021, respectively | 4 | 4 |
Additional paid-in capital | 490,544 | 471,820 |
Accumulated deficit | (332,347) | (263,608) |
Accumulated other comprehensive loss | (18) | 0 |
Total stockholders’ equity | 158,183 | 208,216 |
Total liabilities and stockholders’ equity | $ 234,884 | $ 287,253 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.00005 | $ 0.00005 |
Common stock authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock issued (in shares) | 68,574,957 | 67,595,535 |
Common stock outstanding (in shares) | 68,574,957 | 67,595,535 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenue: | ||||
Total revenue | $ 21,398 | $ 24,324 | $ 60,754 | $ 62,202 |
Cost of sales: | ||||
Total cost of sales | 6,373 | 8,911 | 18,976 | 21,610 |
Gross profit | 15,025 | 15,413 | 41,778 | 40,592 |
Operating expenses: | ||||
Research and development | 8,978 | 16,195 | 44,729 | 42,757 |
Selling, general and administrative | 26,525 | 19,198 | 64,347 | 50,813 |
Restructuring | 1,058 | 0 | 1,058 | 0 |
Total operating expenses | 36,561 | 35,393 | 110,134 | 93,570 |
Loss from operations | (21,536) | (19,980) | (68,356) | (52,978) |
Other income (expense): | ||||
Interest expense | (229) | (232) | (680) | (942) |
Interest income | 465 | 33 | 552 | 142 |
Other expense, net | (244) | (170) | (209) | (117) |
Loss before income taxes | (21,544) | (20,349) | (68,693) | (53,895) |
Provision for income taxes | 22 | 54 | 46 | 97 |
Net loss | $ (21,566) | $ (20,403) | $ (68,739) | $ (53,992) |
Net loss attributable to common stockholders per share, basic (in dollars per share) | $ (0.32) | $ (0.30) | $ (1.01) | $ (0.81) |
Net loss attributable to common stockholders per share, diluted (in dollars per share) | $ (0.32) | $ (0.30) | $ (1.01) | $ (0.81) |
Weighted-average shares used in calculating net loss per share, basic (in shares) | 68,384,115 | 67,213,282 | 68,024,937 | 66,428,303 |
Weighted-average shares used in calculating net loss per share, diluted (in shares) | 68,384,115 | 67,213,282 | 68,024,937 | 66,428,303 |
Product revenue | ||||
Revenue: | ||||
Total revenue | $ 15,946 | $ 16,704 | $ 35,188 | $ 43,258 |
Cost of sales: | ||||
Total cost of sales | 4,602 | 4,797 | 9,911 | 11,832 |
Service revenue | ||||
Revenue: | ||||
Total revenue | 5,452 | 7,620 | 25,566 | 18,944 |
Cost of sales: | ||||
Total cost of sales | $ 1,771 | $ 4,114 | $ 9,065 | $ 9,778 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (21,566) | $ (20,403) | $ (68,739) | $ (53,992) |
Other comprehensive loss: | ||||
Unrealized gain (loss) on marketable securities, net of tax | 1 | 0 | (18) | 0 |
Other comprehensive income (loss): | 1 | 0 | (18) | 0 |
Comprehensive loss | $ (21,565) | $ (20,403) | $ (68,757) | $ (53,992) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss |
Beginning balance (in shares) at Dec. 31, 2020 | 64,486,246 | ||||
Beginning balance at Dec. 31, 2020 | $ 244,781 | $ 3 | $ 436,662 | $ (191,884) | $ 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Exercise of stock options (in shares) | 2,767,866 | ||||
Exercise of stock options | 9,674 | $ 1 | 9,673 | ||
Vesting of restricted stock units (in shares) | 39,119 | ||||
Employee stock purchase plan (in shares) | 163,008 | ||||
Employee stock purchase plan | 3,644 | 3,644 | |||
Stock-based compensation | 16,078 | 16,078 | |||
Net loss | (53,992) | (53,992) | |||
Ending balance (in shares) at Sep. 30, 2021 | 67,456,239 | ||||
Ending balance at Sep. 30, 2021 | 220,185 | $ 4 | 466,057 | (245,876) | 0 |
Beginning balance (in shares) at Jun. 30, 2021 | 67,043,537 | ||||
Beginning balance at Jun. 30, 2021 | 231,839 | $ 4 | 457,308 | (225,473) | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Exercise of stock options (in shares) | 345,126 | ||||
Exercise of stock options | 1,327 | 1,327 | |||
Vesting of restricted stock units (in shares) | 19,928 | ||||
Employee stock purchase plan (in shares) | 47,648 | ||||
Employee stock purchase plan | 1,487 | 1,487 | |||
Stock-based compensation | 5,935 | 5,935 | |||
Net loss | (20,403) | (20,403) | |||
Ending balance (in shares) at Sep. 30, 2021 | 67,456,239 | ||||
Ending balance at Sep. 30, 2021 | 220,185 | $ 4 | 466,057 | (245,876) | 0 |
Beginning balance (in shares) at Dec. 31, 2021 | 67,595,535 | ||||
Beginning balance at Dec. 31, 2021 | 208,216 | $ 4 | 471,820 | (263,608) | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Exercise of stock options (in shares) | 296,169 | ||||
Exercise of stock options | 833 | 833 | |||
Vesting of restricted stock units (in shares) | 532,529 | ||||
Employee stock purchase plan (in shares) | 150,724 | ||||
Employee stock purchase plan | 719 | 719 | |||
Stock-based compensation | 17,172 | 17,172 | |||
Other comprehensive gain (loss) | (18) | (18) | |||
Net loss | (68,739) | (68,739) | |||
Ending balance (in shares) at Sep. 30, 2022 | 68,574,957 | ||||
Ending balance at Sep. 30, 2022 | 158,183 | $ 4 | 490,544 | (332,347) | (18) |
Beginning balance (in shares) at Jun. 30, 2022 | 68,273,932 | ||||
Beginning balance at Jun. 30, 2022 | 174,416 | $ 4 | 485,212 | (310,781) | (19) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Exercise of stock options (in shares) | 33,502 | ||||
Exercise of stock options | 67 | 67 | |||
Vesting of restricted stock units (in shares) | 232,145 | ||||
Employee stock purchase plan (in shares) | 35,378 | ||||
Employee stock purchase plan | 109 | 109 | |||
Stock-based compensation | 5,156 | 5,156 | |||
Other comprehensive gain (loss) | 1 | 1 | |||
Net loss | (21,566) | (21,566) | |||
Ending balance (in shares) at Sep. 30, 2022 | 68,574,957 | ||||
Ending balance at Sep. 30, 2022 | $ 158,183 | $ 4 | $ 490,544 | $ (332,347) | $ (18) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (68,739) | $ (53,992) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Depreciation | 6,580 | 3,957 |
Stock-based compensation | 17,139 | 16,085 |
Amortization of operating lease right-of-use assets | 2,328 | 1,602 |
Non-cash interest and other expense related to debt and note receivable agreements | 48 | 51 |
Provision for excess and obsolete inventory | 512 | 431 |
Loss on disposal and impairment of property and equipment | 48 | 61 |
Other non-cash | 227 | 0 |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | 5,687 | (11,773) |
Inventory | (1,390) | (5,121) |
Prepaid expenses, other current assets and other assets | 1,956 | (3,345) |
Trade accounts payable | 591 | 8,096 |
Deferred revenue | (5,149) | 5,910 |
Accrued expenses and other current liabilities | 3,523 | 806 |
Operating lease liabilities | (864) | (1,478) |
Net cash used in operating activities | (37,503) | (38,710) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (7,732) | (10,715) |
Purchase of marketable securities | (18,793) | 0 |
Proceeds from maturities of marketable securities | 4,750 | 0 |
Net cash used in investing activities | (21,775) | (10,715) |
Cash flows from financing activities: | ||
Payment of debt issuance costs | 0 | (300) |
Proceeds from issuance of common stock upon exercise of stock options | 833 | 9,674 |
Proceeds from issuance of common stock under employee stock purchase plan | 719 | 3,644 |
Net cash provided by financing activities | 1,552 | 13,018 |
Net decrease in cash and cash equivalents and restricted cash | (57,726) | (36,407) |
Cash and cash equivalents and restricted cash at beginning of period | 178,366 | 233,678 |
Cash and cash equivalents and restricted cash at end of period | $ 120,640 | $ 197,271 |
The Company and Basis of Presen
The Company and Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company and Basis of Presentation | The Company and Basis of Presentation Description of Business Berkeley Lights, Inc. (the “Company” or “Berkeley Lights”) is a leading Digital Cell Biology company focused on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products. Berkeley Lights’ platform is a fully integrated, end-to-end solution, comprised of advanced automation systems, proprietary consumables, including the Company’s OptoSelect chips and reagent kits, and advanced application and workflow software. Berkeley Lights and its consolidated subsidiaries are hereinafter referred to as the “Company.” The Company’s headquarters are in Emeryville, California. Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the “condensed consolidated financial statements”) have been prepared in accordance with generally accepted accounting principles in the United States of America. Liquidity The Company has experienced losses from its operations since its inception and has relied primarily on equity and debt financing to fund its operations to date. For the three and nine months ended September 30, 2022, the Company had a consolidated net loss of $21.6 million and $68.7 million, respectively, and as of September 30, 2022 had an accumulated deficit of $332.3 million. Cash, cash equivalents and marketable securities was $134.7 million at September 30, 2022. Management expects to continue to incur significant expenses for the foreseeable future and to incur operating losses in the near term while the Company makes investments to support its anticipated growth. The Company believes that its cash, cash equivalents and marketable securities balance as of September 30, 2022 provides sufficient capital resources to continue its operations for at least 12 months from the issuance date of the accompanying consolidated financial statements. Organizational and presentational changes During the third quarter 2022, the Company made certain changes to its operating structure to align with its new business strategy. These changes included reorganizing the Company’s go-to-market efforts, the termination of approximately 12% of its workforce (see Note 12 to these condensed consolidated financial statements for additional information), and additional organizational changes. As part of these changes, the Company’s “service center,” a team of scientists and engineers who perform services for both internal and external projects, is now part of the Company’s platform sales and support organization. The service center historically reported to the Company’s former Chief Product Officer. As a result of these changes, the Company updated its classification of operating expenses as follows: 1. Expenses related to the termination of employees during the third quarter discussed above are classified in “Restructuring” within Operating Expenses. 2. The Company now discloses “Selling, general and administrative” expenses which includes expenses historically reported in “Sales and marketing” as well as “General and administrative” expenses. The Company has reclassified the prior period to conform to the current period presentation for this change. 3. Expenses associated with the Company’s service center are no longer be classified as “Research and development” expenses, and instead are classified as “S elling, general and administrative” expenses on the Company’s condensed consolidated statements of operations as of the third quarter of 2022. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Significant Accounting Policies The Company’s significant accounting policies are disclosed in its Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission and have not materially changed during the nine months ended September 30, 2022, with the exception of the accounting policies as described further below. Short-Term Marketable Securities The Company designates investments in debt securities as available-for-sale. Available-for-sale debt securities with original maturities of three months or less from the date of purchase are classified within cash and cash equivalents. Available-for-sale debt securities with original maturities longer than three months are available to fund current operations and are classified as marketable securities within “current assets” on the Company’s condensed consolidated balance sheets. The Company records these securities at fair value and accounts for the net unrealized gains and losses related to them as part of “other comprehensive income (loss)” on its condensed consolidated statement of comprehensive loss. The Company records realized gains and losses on the sale of its marketable securities in “Other expense, net” in its condensed consolidated statement of operations. At each reporting date, the Company performs an evaluation of impairment of its short-term available-for-sale marketable debt securities to determine if the fair value of its investment is less than its amortized cost basis. Impairment is assessed at the individual security level. Factors considered in determining whether an investment is impaired include the Company’s intent and ability to hold the investment until the recovery of its amortized cost basis, any historical failure of the issuer to make scheduled interest or principal payments, any change to the rating of the security by a rating agency, any adverse legal or regulatory events affecting the issuer or issuer’s industry, and any significant deterioration in economic conditions. Stock-Based Compensation The Company maintains an incentive compensation plan under which stock options and restricted stock units (“RSUs”) are granted to employees, non-employee consultants and directors. Stock-based compensation expense is calculated based on the grant date fair value of the award. The Company determines the fair value of RSUs based on the closing price of the Company’s common stock as reported by Nasdaq on the date of the grant. The Company estimates the fair value of the majority of stock option awards on the grant date using the Black-Scholes option-pricing model. For option awards that include a goal tied to the Company share price (i.e. a market condition) the Company uses a Monte Carlo simulation to estimate the fair value. The fair value of stock options and RSUs with only a service condition is recognized as compensation expense on a straight-line basis over the requisite service period in which the awards are expected to vest and forfeitures are recognized as they occur. Stock options and RSUs that include a service condition and a performance condition are considered expected to vest when the performance condition is probable of being met. Compensation expense associated with performance awards that are determined to be probable of achievement is recognized over the requisite service period on a tranche-by-tranche basis. For performance stock options and RSUs not initially assessed as probable of achievement, the Company records a cumulative adjustment to compensation expense in the period the Company changes its determination that a performance condition becomes probable of being achieved. The Company ceases recognition of compensation expense in any periods where the Company determines the attainment of a performance condition is no longer probable. If the performance goals are determined to be improbable, any previously recognized compensation expense is reversed. The fair value of stock options with a market condition is recognized over the requisite service period for each tranche of the award and is recognized regardless of whether (or to what extent) the market condition is ultimately achieved. |
Marketable Securities
Marketable Securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | Marketable Securities Short-Term Marketable Securities The Company invests in available-for-sale marketable debt securities consisting of commercial paper and U.S. government securities with contractual maturities due within one year. The Company did not hold any investments in marketable debt securities as of December 31, 2021. The following table summarizes the amortized costs and carrying value of the Company’s available-for-sale marketable debt securities, by major security type, as of September 30, 2022 (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 6,133 $ — $ (5) $ 6,128 U.S. agency securities 1,983 1 — 1,984 U.S. government securities 5,969 — (6) 5,963 Total $ 14,085 $ 1 $ (11) $ 14,075 At each reporting date, the Company performs an evaluation of impairment to determine if any unrealized losses are the result of credit losses. Impairment is assessed at the individual security level. Unrealized losses on available-for-sale debt securities as of September 30, 2022 were not significant and were primarily market driven due to changes in interest rates, and not due to increased credit risk associated with specific securities. Accordingly, the Company did not record an allowance for credit losses on these short term investments as of September 30, 2022. |
Significant Risks and Uncertain
Significant Risks and Uncertainties Including Business and Credit Concentrations | 9 Months Ended |
Sep. 30, 2022 | |
Risks and Uncertainties [Abstract] | |
Significant Risks and Uncertainties Including Business and Credit Concentrations | Significant Risks and Uncertainties Including Business and Credit ConcentrationsFinancial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term available-for-sale debt securities and trade receivables. The Company’s cash, cash equivalents and short-term available-for-sale marketable securities are held by large, credit worthy financial institutions. The Company invests its excess cash in money market funds and short-term available-for-sale debt securities with the primary objective of facilitating liquidity and capital preservation. The Company has established guidelines relative to credit ratings, diversification and maturities that seek to maintain safety and liquidity. Deposits in these financial institutions may exceed the amounts of insurance provided on such deposits. To date, the Company has not experienced any losses on its deposits of cash, cash equivalents and marketable securities. The Company controls credit risk through credit approvals and monitoring procedures. The Company performs periodic credit evaluations of its customers and generally does not require collateral. Accounts receivable are recorded net of an allowance for doubtful accounts. The allowance for doubtful accounts is based on management’s assessment of the collectability of specific customer accounts and the aging of the related invoices and represents the Company’s best estimate of expected credit losses in its existing trade accounts receivable. At each of September 30, 2022 and December 31, 2021, the Company had not recorded any material allowance for doubtful accounts. For the three months ended September 30, 2022, two customers accounted for 26% and 10% of revenue. For the nine months ended September 30, 2022, one customer accounted for 19% of revenue. For the three months ended September 30, 2021, four customers accounted for 16%, 15%, 10% and 10%, of revenue. For the nine months ended September 30, 2021, three customers accounted for 21%, 15% and 10% of revenue. |
Revenue From Contracts With Cus
Revenue From Contracts With Customers | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue From Contracts With Customers | Revenue From Contracts With CustomersThe Company’s revenue consists of both product revenue and service revenue, which is generated through the following revenue streams: (i) platform, (ii) recurring, and (iii) partnerships. The following tables provide an overview of the Company’s revenue streams and how the Company reports revenue in its consolidated statements of operations (in thousands): Income Statement Classification Product or Service sold Revenue Stream Product revenue Sale of advanced automation systems (Beacon and Lightning systems, Culture Station) Platform Software Platform Fixed term sales-type lease arrangements with qualified customers Platform Quarterly workflow subscriptions, annual or multi-year subscriptions arrangements (e.g. TechAccess) Recurring Consumables and reagent kits (e.g. OptoSelect chips) Recurring Service revenue Strategic partnerships, joint development and collaboration agreements where we provide services for development of new workflows, cells or organism types Partnerships Application support, installation and training Platform Fixed fee extended warranty and service programs Recurring The following tables provide information by revenue stream for the periods presented: Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 (in thousands) Product Service Total Product Service Total Platform $ 11,646 $ 114 $ 11,760 $ 24,619 $ 971 $ 25,590 Recurring 4,300 2,724 7,024 10,569 7,827 18,396 Partnerships — 2,614 2,614 — 16,768 16,768 Total revenue $ 15,946 $ 5,452 $ 21,398 $ 35,188 $ 25,566 $ 60,754 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (in thousands) Product Service Total Product Service Total Platform $ 13,702 $ 426 $ 14,128 $ 35,005 $ 1,628 $ 36,633 Recurring 3,002 1,731 4,733 8,253 4,820 13,073 Partnerships — 5,463 5,463 — 12,496 12,496 Total revenue $ 16,704 $ 7,620 $ 24,324 $ 43,258 $ 18,944 $ 62,202 Revenues by geographical markets are presented in Note 17 to these condensed consolidated financial statements. Performance Obligations A significant number of the Company’s product and service sales, as well as its feasibility study arrangements, are short-term in nature with a contract term of one year or less. For those contracts, the Company has utilized the practical expedient in ASC 606-10-50-14 exempting the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. As of September 30, 2022, the aggregate amount of remaining performance obligations that are unsatisfied or partially unsatisfied related to customer contracts in excess of one year w as $4.3 million, which, to the extent invoiced, is included in deferred revenue on the Company’s condensed consolidated balance sheets, of which approximately 44% is e xpected to be recognized as revenue in the next 12 months, with the remainder recognized afterwards. Contract Balances The following table provides information about receivables, contract assets and deferred revenue from contracts with customers (in thousands): September 30, December 31, Trade accounts receivable $ 20,255 $ 25,942 Contract assets, which are included in “Prepaid expenses and other current assets” $ 1,302 $ 1,736 Contract assets, long-term, which are included in “Other assets” $ 681 $ 1,070 Deferred revenue (current) $ 7,733 $ 12,128 Deferred revenue (non-current) $ 1,433 $ 2,187 The contract liabilities of $9.2 million and $14.3 million as of September 30, 2022 and December 31, 2021, respectively, consisted of deferred revenue related to extended warranty service agreements, strategic partnerships and services agreements and advanced automation systems arrangements. Revenue recorded during the three and nine months ended September 30, 2022 i ncluded $1.3 million and $11.2 million, respectively, of previously deferred revenue that was included in contract liabilities as of December 31, 2021. Sales-type Lease Arrangements The Company also enters into sales-type lease arrangements with certain qualified customers. Revenue related to lease elements from sales-type leases is presented as product revenue and was none for the three and nine months ended September 30, 2022, respectively, and was none and $2.7 million for the three and nine months ended September 30, 2021, respectively. The following table presents the future maturity of the Company’s fixed-term customer leases and reconciles the undiscounted cash flows from the amounts due from customers under such arrangements as of September 30, 2022 (in thousands): Year ending December 31, Sales-Type Remainder of 2022 $ 1,101 2023 445 2024 445 2025 407 Total undiscounted cash flows 2,398 Less: unearned income 327 Total amounts due from customers (1) $ 2,071 (1) Of the 2.1 million, $0.3 million is recorded in trade accounts receivable, with the remaining balance recorded in contract assets. |
Balance Sheet Accounts
Balance Sheet Accounts | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Accounts | Balance Sheet Accounts Inventory The following table shows the components of inventory (in thousands): September 30, December 31, Raw materials $ 11,431 $ 8,296 Finished goods 4,275 6,251 Total $ 15,706 $ 14,547 Prepaid expenses and other current assets The following table shows the components of prepaid expenses and other current assets (in thousands): September 30, December 31, Contract asset $ 1,302 $ 1,736 Vendor deposits 2,528 2,802 Deferred costs 558 561 Prepaid insurance 2,414 2,944 Other (1) 3,483 3,942 Total $ 10,285 $ 11,985 (1) Other includes primarily prepaid rent expenses, software licenses and prepaid VAT. Accrued expenses and other current liabilities The following table shows the components of accrued expenses and other current liabilities (in thousands): September 30, December 31, Accrued payroll and employee related expenses $ 7,342 $ 6,757 Lease liability – short-term 3,238 2,941 Accrued product warranty 766 1,085 Accrued legal expenses 3,473 504 Other (1) 1,424 1,138 Total $ 16,243 $ 12,425 (1) Other includes accrued income taxes, sales taxes, accrued royalties and other miscellaneous accruals. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value of the Company’s assets and liabilities, including cash equivalents and marketable debt securities, are measured at fair value on a recurring basis. As of September 30, 2022 the Company held investments in securities classified as cash equivalents. The carrying amounts of the Company’s cash, accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses and other current liabilities as of September 30, 2022 and December 31, 2021 approximate fair value due to their relatively short maturities. The following tables set forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy (in thousands): September 30, Quoted Prices Significant Significant Cash equivalents: Money market funds $ 3,072 $ 3,072 $ — $ — Commercial paper 37,435 — 37,435 — U.S. agency securities 4,979 — 4,979 — U.S. government securities 10,979 — 10,979 — Total cash equivalents 56,465 3,072 53,393 — Debt securities, available for sale: Commercial paper 6,128 — 6,128 — U.S. agency securities 1,984 — 1,984 — U.S. government securities 5,963 — 5,963 — Total debt securities, available for sale 14,075 — 14,075 — Total assets measured at fair value $ 70,540 $ 3,072 $ 67,468 $ — December 31, Quoted Prices Significant Significant Cash equivalents: Money market funds $ 25,138 $ 25,138 $ — $ — Total cash equivalents $ 25,138 $ 25,138 $ — $ — The carrying values and fair values of the Company’s financial instruments not measured at fair value were as follows (in thousands): September 30, 2022 December 31, 2021 Carrying Fair Value Carrying Fair Value Long-term debt, including current maturities $ 19,810 $ 19,279 $ 19,762 $ 19,298 The Company estimated the fair value of its long-term debt using a market-based approach that considers an average cost of debt. The Company has incorporated its own credit risk for all liability fair value measurements. Such fair value measurements are considered Level 2 under the fair value hierarchy. The Company did not have any transfers of financial assets measured at fair value on a recurring basis between the levels of the fair value measurement hierarchy during the periods presented. |
Property and Equipment, net
Property and Equipment, net | 9 Months Ended |
Sep. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, net | Property and Equipment, net Property and equipment, net comprised the following (in thousands): September 30, December 31, Equipment, tooling and molds $ 38,897 $ 33,972 Computer software and equipment 2,733 3,019 Furniture, fixtures and other 2,020 1,891 Leasehold improvements 10,828 6,105 Construction in process 809 4,803 Total property and equipment 55,287 49,790 Less: Accumulated depreciation (27,583) (21,798) Property and equipment, net $ 27,704 $ 27,992 Total depreciation expense for the three and nine months ended September 30, 2022 was $2.2 million and $6.6 million, respectively. Total depreciation expense for three and nine months ended September 30, 2021 was $1.3 million and $4.0 million, respectively. During the three and nine months ended September 30, 2022 and 2021 losses on the impairment and disposal of property and equipment were not material. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | Leases The Company leases office, manufacturing, distribution and laboratory facilities in Emeryville, California under multiple operating leases. During the third quarter of 2021, the Company extended the term for its leases related to the facilities in Emeryville to 2029. Also, during the third quarter of 2021, the Company entered into a seven year lease of space for office and laboratory operations in Lexington, Massachusetts. The Company also leases two facilities in Shanghai, China for office and laboratory facilities under operating lease agreements that were entered into in July 2020. These leases expire at various dates, the latest of which is August 2023. Future payments associated with the Company’s operating lease liabilities as of September 30, 2022 are as follows (in thousands): Operating leases Undiscounted lease payments for the year ending December 31, Remainder of 2022 $ 1,089 2023 4,418 2024 4,507 2025 4,524 2026 4,621 Thereafter 12,223 Total undiscounted lease payments 31,382 Less: implied interest (4,518) Less: tenant improvement allowances receivable (65) Present value of operating lease payments 26,799 Less: current portion (1) (3,238) Total long-term operating lease liabilities $ 23,561 (1) Included in the balance sheet caption “Accrued expenses and other current liabilities.” Rent expense for the three and nine months ended September 30, 2022 was $1.1 million and $3.3 million, respectively. Rent expense for the three and nine months ended September 30, 2021 was $1.0 million and $2.7 million, respectively. Under the terms of the lease agreements, the Company is also responsible for certain variable lease payments that are not included in the measurement of the lease liability. Variable lease payments for operating leases were $0.8 million and $2.3 million for the three and nine months ended September 30, 2022, respectively, including non-lease components such as common area maintenance fees. Variable lease payments for operating leases were $0.6 million and $1.7 million for the three and nine months ended September 30, 2021, respectively, including non-lease components such as common area maintenance fees. The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands): Nine months ended September 30, 2022 Nine months ended September 30, 2021 Right-of-use assets obtained for new operating lease liabilities $ 386 $ 3,348 Right-of-use assets obtained for new operating lease liabilities - Modification of existing leases $ — $ 8,320 Cash paid for amounts included in the measurement of lease liabilities $ 1,760 $ 2,628 The following summarizes additional information related to operating leases: September 30, 2022 December 31, 2021 Weighted-average remaining lease term (years) 6.72 7.51 Weighted-average discount rate 4.67 % 4.67 % |
Notes Payable
Notes Payable | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Notes Payable | Notes Payable On May 23, 2018, the Company entered into a Loan and Security Agreement with East West Bank (“EWB”) providing it the ability to borrow up to $20.0 million. The loan facility was fully drawn as of May 23, 2018. On June 30, 2021, the Company entered into an Amended and Restated Loan and Security Agreement (the “Agreement”) with EWB. Pursuant to the Agreement, EWB provided a $20.0 million term loan (the “Term Loan”) which was used to refinance the term loan outstanding under the Loan and Security Agreement dated May 23, 2018. The Term Loan matures in 48 months and bears a fixed interest rate of 4.17% . The Term Loan has an initial interest-only period of 24 months, which can be extended to up to 36 months based on the achievement of certain liquidity measures, and can be pre-paid without penalty at any time. The Agreement grants EWB a security interest in and liens on all assets of the Company, excluding intellectual property, which is subject to a double negative pledge. In addition, certain other terms of the original agreements as previously in effect were amended by the Agreement, including certain financial covenants. The Amended and Restated Loan and Security Agreement was accounted for as a debt modification and the Company capitalized incremental debt issuance costs. Furthermore, the Agreement also provided the Company with a new $10.0 million revolving credit (the “Revolving Line”), which bears interest on the outstanding daily balance thereof of 0.70% above the Prime Rate (as defined in the Agreement). No amounts were outstanding under the Revolving Line as of September 30, 2022. The Agreement contains certain financial and non-financial covenants. As of September 30, 2022, the Company was in compliance with the terms and covenants of the Agreement. The following is a schedule of payments due on notes payable as of September 30, 2022 (in thousands): September 30, Year Ending December 31: Remainder of 2022 $ 213 2023 6,617 2024 10,406 2025 4,210 Total payments due 21,446 Less: Interest payments, loan discounts and financing costs (1,636) Current portion, less loan discounts and financing costs (2,483) Notes payable, net of current portion $ 17,327 |
Stock Compensation Plans
Stock Compensation Plans | 9 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock Compensation Plans | Stock Compensation Plans Stock-based compensation Stock-based compensation related to the Company’s stock-based awards was recorded as an expense and allocated as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Cost of sales $ 119 $ 85 $ 238 $ 190 Research and development 1,264 1,508 5,137 4,168 Selling, general and administrative 3,798 4,369 11,764 11,727 Total stock-based compensation $ 5,181 $ 5,962 $ 17,139 $ 16,085 Stock-based compensation capitalized in inventory was not material as of September 30, 2022 and December 31, 2021. Option Repricing On May 19, 2022, the Company’s Board of Directors elected to reprice all outstanding stock options granted to non-executive employees of the Company under the Berkeley Lights, Inc. 2020 Incentive Plan with a strike price above the closing price of the Company’s common stock as reported by Nasdaq as of May 19, 2022. The new strike price for these repriced stock options is $4.91, which was the May 19, 2022 closing price. There were no other modifications to these options, including vesting schedules. Options representing 763,307 underlying shares were included in this repricing and the total incremental expense associated with the modification of these options was $1.5 million, of which $0.5 million was recorded in the second quarter of 2022 with the remaining to be recognized through February 22, 2026. In addition, non-executive employees of the Company with outstanding options granted under the Berkeley Lights 2011 Equity Incentive Plan with a strike price above the closing price of the Company’s common stock as reported on Nasdaq as of May 19, 2022 were granted an RSU for every two stock options held with a strike price above the closing price as of May 19, 2022. These RSUs were granted on June 1, 2022 and vest in full on June 1, 2024, subject to the employee’s continued service. An aggregate total of 353,625 RSUs were granted to such employees resulting in $1.5 million of compensation expense, of which approximately $55 thousand was recorded in the second quarter of 2022 with the remaining to be recognized through June 1, 2024. CEO Equity Grants On March 10, 2022, the Company granted its newly appointed Chief Executive Officer 1,017,177 RSUs, 339,059 time-based stock options and 678,118 performance-based stock options (“PSOs”). The RSUs and time-based stock options vest quarterly over 3 years and the time-based stock options have a 10 year term. The PSOs have a 7-year performance period, a 10-year term and vest based upon the achievement of certain market conditions and a continued service-based requirement. Market condition-related vesting is triggered based on the Company’s stock price reaching certain goals that range from two to 20 times the Company share price on the date of grant. |
Restructuring
Restructuring | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring and Related Activities [Abstract] | |
Restructuring | Restructuring On July 21, 2022, to improve efficiency and manage operating expenses, the Company terminated the employment of approximately 12% of total full-time employees. The Company incurred $1.1 million of employee severance and termination-related restructuring costs associated with this activity during the third quarter of 2022, and any additional costs associated with this reorganization will be recorded as restructuring expense when they are incurred. Changes in the Company’s restructuring liability are set forth in the table below (in thousands): Employee severance and termination Restructuring liability as of June 30, 2022 $ — Restructuring charges 1,058 Cash paid (748) Restructuring liability as of September 30, 2022 $ 310 Restructuring liabilities are included in accrued expenses and other current liabilities in the condensed consolidated balance sheet. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income TaxesThe Company’s provision for income taxes was $22,000 and $46,000, respectively, for the three and nine months ended September 30, 2022 and $54,000 and $97,000, respectively, for the three and nine months ended September 30, 2021. For the three and nine months ended September 30, 2022 and 2021, income from operations before taxes consisted of amounts related to U.S. operations and the Company’s foreign operations. The Company maintains a full valuation allowance on its deferred tax assets, and intends to do so until there is sufficient evidence to support the reversal of all or some portion of this allowance. |
Statements of Cash Flows
Statements of Cash Flows | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Statements of Cash Flows | Statements of Cash Flows The supplemental cash flow information consists of the following (in thousands): Nine months ended September 30, 2022 2021 Cash paid for interest $ 422 $ 828 Cash paid for income taxes $ 10 $ 3 Non-cash investing and financing activities Property and equipment transferred to inventory $ 249 $ — Inventory transferred to property and equipment (1) $ — $ 2,830 Change in accounts payable and accrued liabilities related to purchases of property and equipment $ (868) $ 1,238 (1) The non-cash transfer of inventory to property and equipment principally relates to Beacons that were transferred to the Company’s BioFoundry operations in the first and second quarter of 2021. As a result of the growth of the Company’s BioFoundry operations, including growth in the number of Beacons used to fulfill strategic partnerships and services agreements, beginning in the third quarter of 2021, Beacons that at inception are planned to be used in the Company’s BioFoundry operations will be categorized as “Purchase of property and equipment.” |
Commitment and Contingencies
Commitment and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Legal Proceedings From time to time, the Company may be involved in legal and administrative proceedings and claims of various types. The Company records a liability in its financial statements for these matters when a loss is known and considered probable and the amount can be reasonably estimated. The Company does not recognize gain contingencies until they are realized. Legal costs incurred relating to loss contingencies are expensed as incurred. AbCellera Biologics Litigation In July 2020, AbCellera Biologics Inc. (“AbCellera”) filed a complaint in the United States District Court for the District of Delaware, alleging that the Company infringed and continues to infringe, directly and indirectly, the following patents exclusively licensed by AbCellera by making, using, offering for sale, selling and/or importing the Company’s Beacon and Culture Station instruments and the OptoSelect chips, and sale of the Opto Plasma B Discovery Workflow: U.S. Patent Nos. 10,107,812, 10,274,494, 10,466,241, 10,578,618, 10,697,962, 10,087,408, 10,421,936 and 10,704,018 (“AbCellera I”). In August 2020, AbCellera filed a second complaint in the United States District Court for the District of Delaware, making the same allegations with regard to U.S. Patent Nos. 10,718,768, 10,738,270, 10,746,737, and 10,753,933 (“AbCellera II”). In September 2020, AbCellera filed amended complaints in each of AbCellera I and AbCellera II adding The University of British Columbia (“UBC”) as a named plaintiff. Also in September 2020, AbCellera and UBC filed a third complaint in the United States District Court for the District of Delaware, making the same allegations with regard to U.S. Patent Nos. 10,775,376, 10,775,377, and 10,775,378 (“AbCellera III”). AbCellera and UBC are seeking, among other things, judgment of infringement, a permanent injunction and damages (including lost profits, a reasonable royalty, reasonable costs and attorney’s fees and treble damages for willful infringement). In addition to procedural motions, the Company has filed an answer and counterclaims in response to each of the AbCellera I, AbCellera II and AbCellera III lawsuits. The Company’s counterclaims in each lawsuit include counts for declaratory judgment of non-infringement of the asserted patents, for declaratory judgment of invalidity of the asserted patents and for declaratory judgment of unenforceability of the asserted patents due to inequitable conduct. The Company filed a motion to transfer the AbCellera I, AbCellera II and AbCellera III lawsuits to the United States District Court for the Northern District of California, which was granted and where the lawsuits have been consolidated and are now pending (the “consolidated lawsuit”). On May 6, 2021 and pursuant to Court Order, AbCellera and UBC reduced, without prejudice, the asserted patents in the consolidated lawsuit to the following: US Patent Nos. 10,087,408, 10,421,936, 10,738,270, 10,697,962, 10,753,933, 10,775,376 and 10,775,378. On July 1, 2021, the court granted the Company’s motion to amend its answer and counterclaims to add federal and state unfair competition counterclaims against AbCellera Biologics; on July 22, 2021, the Company filed its amended answer and counterclaims. Also on July 1, 2021 the court issued a Case Management Order that, among other things, requires AbCellera and UBC to reduce the number of asserted patents to no more than two, and the total asserted patent claims to no more than four per patent prior to the trial. Also in July 2021, the Company filed petitions for Inter Partes Review (“IPR”) with the United States Patent & Trademark Office (“USPTO”), challenging the validity of various asserted claims of U.S. Patent No. 10,087,408 and all asserted claims of U.S. Patent No. 10,421,936, then filed a motion in the district court to stay the consolidated lawsuit pending the outcome of the IPR proceedings. In August 2021, the Company filed a third petition for IPR with the USPTO, challenging the validity of all asserted claims of U.S. Patent No. 10,739,270. Also in August 2021, the court granted the Company’s motion to stay the consolidated AbCellera I, AbCellera II, and AbCellera III lawsuits pending the outcome of the IPR proceedings. In January 2022, the Patent Trial and Appeal Board (“PTAB”) of the USPTO issued a decision instituting IPR on U.S. Patent No. 10,087,408 and a decision denying IPR on U.S. Patent No. 10,421,936. In February 2022, the PTAB issued a decision denying IPR on U.S. Patent No. 10,739,270. In May 2022, UBC filed a Patent Owner’s Response (“POR”) in the IPR of U.S. Patent No. 10,087,408, and in September 2022, the Company filed a Reply to the POR. Also in May 2022, AbCellera and UBC filed a motion in the United States District Court for the Northern District of California to lift the stay of the consolidated AbCellera I, AbCellera II, and AbCellera III lawsuits, citing lack of institution of the IPRs of U.S. Patent Nos. 10,421,936 and 10,739,270. In August 2022, the court denied AbCellera’s and UBC’s motion to lift the stay. In August 2020, the Company filed a complaint in the United States District Court for the Northern District of California against AbCellera and Lineage BioSciences, Inc., an entity previously acquired by AbCellera (“AbCellera IV”). The complaint included two counts of unfair competition and one count of a declaratory judgment of non-infringement of U.S. Patent No. 10,058,839. The Company was seeking, among other things, damages and a judgment of non-infringement. In October 2020, the Company filed an amended complaint asserting the same three counts and AbCellera and Lineage filed a motion to dismiss the amended complaint, which was granted, without prejudice, in part. In light of the Company’s amended answer and counterclaims in the consolidated lawsuits, which were amended to include its federal and state unfair competition claims as discussed above, in July 2021 the Company filed a notice of dismissal without prejudice in the AbCellera IV lawsuit, resulting in its termination. The Company believes that the patent assertions by AbCellera and UBC are without merit and intends to defend itself vigorously. The Company also intends to proceed with its claims and counterclaims against AbCellera and UBC. Outcomes in litigation can be uncertain and it is possible a court may disagree with the Company’s positions. An adverse determination in these lawsuits could subject the Company to significant liabilities, require it to seek licenses from or pay royalties to AbCellera and/or UBC, or prevent it from manufacturing, selling or using certain of its products, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and prospects. Securities Class Action In December 2021, Victor J. Ng filed a securities class action complaint (the “Securities Class Action”), which was amended on July 25, 2022. The Securities Class Action is on behalf of all persons who purchased or otherwise acquired: (a) Berkeley Lights common stock pursuant and/or traceable to certain July 2020 Initial Public Offering (“IPO”) offering documents and/or (b) securities of Berkeley Lights between July 17, 2020 and January 5, 2022, inclusive. The complaint alleges claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder as well as §§11, 12(a)(2) and 15 of the Securities Act of 1933. It names as defendants the Company, certain of the Company’s current and former senior executives and directors, the underwriter firms that sponsored the Company’s July 2020 IPO, and three firms that invested in the Company. The Company believes that the assertions in the Securities Class Action are without merit and intends to defend itself vigorously. Outcomes in litigation can be uncertain and it is possible a court may disagree with the Company’s positions. An adverse determination in the Securities Class Action could subject the Company to significant liabilities, which could have a material adverse effect on the Company’s business, financial condition, results of operations and prospects. Derivative Action In March 2022, Trung Nguyen filed a shareholder derivative complaint on behalf of nominal defendant Berkeley Lights, Inc., alleging that certain of the Company’s current and former directors and certain of the Company’s current and former senior executives breached their fiduciary duties to the Company. The complaint also alleged that certain of the Company’s current and former directors and former senior executives used material, non-public information to improperly profit from the sale of Company stock, and that certain of the Company’s current and former senior executives owe the Company contribution for violations of sections 10(b) and 21D of the Securities Exchange Act of 1934. The Company is not currently involved in any other claims or legal actions, nor is management aware of any potential claims or legal actions, for which the ultimate disposition could have a material adverse effect on the Company’s financial position, results of operations, or liquidity. No provision has been made for litigation because the Company believes that it is not probable that a liability has been incurred as of September 30, 2022. Product Warranty The Company provides a 13-month assurance-type warranty, generally beginning on the shipment date, on its platforms and chip consumables. The table below represents the activity in the product warranty accrual included in accrued expenses and other current liabilities on the condensed consolidated balance sheets (in thousands): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Balance, beginning of period $ 752 $ 1,190 $ 1,085 $ 1,271 Adjustments to existing warranties 23 (46) (407) (412) Provision for new warranties 226 354 568 971 Settlement of pre-existing warranties (235) (209) (480) (541) Balance, end of period $ 766 $ 1,289 $ 766 $ 1,289 |
Net Loss Attributable to Common
Net Loss Attributable to Common Stockholders Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Net Loss Attributable to Common Stockholders Per Share | Net Loss Attributable to Common Stockholders Per SharePotentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards and unvested restricted stock units. Awards granted with performance conditions are excluded from the shares used to compute diluted earnings per share until the performance conditions associated with the awards are met. The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except share and per share data): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Numerator Net loss attributable to common stockholders, basic and diluted $ (21,566) $ (20,403) $ (68,739) $ (53,992) Denominator Weighted-average shares used to compute net income per share, basic and diluted 68,384,115 67,213,282 68,024,937 66,428,303 Net loss per share Net loss per share attributable to common stockholders, basic and diluted $ (0.32) $ (0.30) $ (1.01) $ (0.81) Since the Company was in a loss position for all periods presented, basic net loss per share attributable to common stockholders is the same as diluted net loss per share attributable to common stockholders, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive. The following shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented as they had an anti-dilutive effect: September 30, 2022 2021 Options to purchase common stock 8,105,378 7,080,020 Restricted stock units 4,723,138 520,494 Total 12,828,516 7,600,514 |
Segments
Segments | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segments | Segments Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company has one business activity and there are no segment managers who are held accountable for operations. Accordingly, the Company has one operating segment. The Company’s principal operations and decision-making functions are located in the United States. The following table provides the Company’s revenues by geographical market based on the location where the services were provided or to which product was shipped (in thousands): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 North America $ 9,315 $ 11,134 $ 32,900 $ 27,370 Asia Pacific (1) 8,135 9,797 20,371 27,496 Europe 3,948 3,393 7,483 7,336 $ 21,398 $ 24,324 $ 60,754 $ 62,202 (1) Asia Pacific includes Australia. As of September 30, 2022 and December 31, 2021, substantially all of the Company’s long-lived assets were located in the United States . |
The Company and Basis of Pres_2
The Company and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements (the “condensed consolidated financial statements”) have been prepared in accordance with generally accepted accounting principles in the United States of America. |
Short-Term Marketable Securities | Short-Term Marketable Securities The Company designates investments in debt securities as available-for-sale. Available-for-sale debt securities with original maturities of three months or less from the date of purchase are classified within cash and cash equivalents. Available-for-sale debt securities with original maturities longer than three months are available to fund current operations and are classified as marketable securities within “current assets” on the Company’s condensed consolidated balance sheets. The Company records these securities at fair value and accounts for the net unrealized gains and losses related to them as part of “other comprehensive income (loss)” on its condensed consolidated statement of comprehensive loss. The Company records realized gains and losses on the sale of its marketable securities in “Other expense, net” in its condensed consolidated statement of operations. At each reporting date, the Company performs an evaluation of impairment of its short-term available-for-sale marketable debt securities to determine if the fair value of its investment is less than its amortized cost basis. Impairment is assessed at the individual security level. Factors considered in determining whether an investment is impaired include the Company’s intent and ability to hold the investment until the recovery of its amortized cost basis, any historical failure of the issuer to make scheduled interest or principal payments, any change to the rating of the security by a rating agency, any adverse legal or regulatory events affecting the issuer or issuer’s industry, and any significant deterioration in economic conditions. |
Stock-Based Compensation | Stock-Based Compensation The Company maintains an incentive compensation plan under which stock options and restricted stock units (“RSUs”) are granted to employees, non-employee consultants and directors. Stock-based compensation expense is calculated based on the grant date fair value of the award. The Company determines the fair value of RSUs based on the closing price of the Company’s common stock as reported by Nasdaq on the date of the grant. The Company estimates the fair value of the majority of stock option awards on the grant date using the Black-Scholes option-pricing model. For option awards that include a goal tied to the Company share price (i.e. a market condition) the Company uses a Monte Carlo simulation to estimate the fair value. The fair value of stock options and RSUs with only a service condition is recognized as compensation expense on a straight-line basis over the requisite service period in which the awards are expected to vest and forfeitures are recognized as they occur. Stock options and RSUs that include a service condition and a performance condition are considered expected to vest when the performance condition is probable of being met. Compensation expense associated with performance awards that are determined to be probable of achievement is recognized over the requisite service period on a tranche-by-tranche basis. For performance stock options and RSUs not initially assessed as probable of achievement, the Company records a cumulative adjustment to compensation expense in the period the Company changes its determination that a performance condition becomes probable of being achieved. The Company ceases recognition of compensation expense in any periods where the Company determines the attainment of a performance condition is no longer probable. If the performance goals are determined to be improbable, any previously recognized compensation expense is reversed. The fair value of stock options with a market condition is recognized over the requisite service period for each tranche of the award and is recognized regardless of whether (or to what extent) the market condition is ultimately achieved. |
Marketable Securities (Tables)
Marketable Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of unrealized gains and losses related to our available-for-sale marketable securities | The following table summarizes the amortized costs and carrying value of the Company’s available-for-sale marketable debt securities, by major security type, as of September 30, 2022 (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Commercial paper $ 6,133 $ — $ (5) $ 6,128 U.S. agency securities 1,983 1 — 1,984 U.S. government securities 5,969 — (6) 5,963 Total $ 14,085 $ 1 $ (11) $ 14,075 |
Revenue From Contracts With C_2
Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of disaggregation of revenue | The following tables provide an overview of the Company’s revenue streams and how the Company reports revenue in its consolidated statements of operations (in thousands): Income Statement Classification Product or Service sold Revenue Stream Product revenue Sale of advanced automation systems (Beacon and Lightning systems, Culture Station) Platform Software Platform Fixed term sales-type lease arrangements with qualified customers Platform Quarterly workflow subscriptions, annual or multi-year subscriptions arrangements (e.g. TechAccess) Recurring Consumables and reagent kits (e.g. OptoSelect chips) Recurring Service revenue Strategic partnerships, joint development and collaboration agreements where we provide services for development of new workflows, cells or organism types Partnerships Application support, installation and training Platform Fixed fee extended warranty and service programs Recurring The following tables provide information by revenue stream for the periods presented: Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 (in thousands) Product Service Total Product Service Total Platform $ 11,646 $ 114 $ 11,760 $ 24,619 $ 971 $ 25,590 Recurring 4,300 2,724 7,024 10,569 7,827 18,396 Partnerships — 2,614 2,614 — 16,768 16,768 Total revenue $ 15,946 $ 5,452 $ 21,398 $ 35,188 $ 25,566 $ 60,754 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (in thousands) Product Service Total Product Service Total Platform $ 13,702 $ 426 $ 14,128 $ 35,005 $ 1,628 $ 36,633 Recurring 3,002 1,731 4,733 8,253 4,820 13,073 Partnerships — 5,463 5,463 — 12,496 12,496 Total revenue $ 16,704 $ 7,620 $ 24,324 $ 43,258 $ 18,944 $ 62,202 |
Schedule of receivables, contract assets and deferred revenue from contracts with customers | The following table provides information about receivables, contract assets and deferred revenue from contracts with customers (in thousands): September 30, December 31, Trade accounts receivable $ 20,255 $ 25,942 Contract assets, which are included in “Prepaid expenses and other current assets” $ 1,302 $ 1,736 Contract assets, long-term, which are included in “Other assets” $ 681 $ 1,070 Deferred revenue (current) $ 7,733 $ 12,128 Deferred revenue (non-current) $ 1,433 $ 2,187 |
Schedule of sales-type lease maturity | The following table presents the future maturity of the Company’s fixed-term customer leases and reconciles the undiscounted cash flows from the amounts due from customers under such arrangements as of September 30, 2022 (in thousands): Year ending December 31, Sales-Type Remainder of 2022 $ 1,101 2023 445 2024 445 2025 407 Total undiscounted cash flows 2,398 Less: unearned income 327 Total amounts due from customers (1) $ 2,071 (1) Of the 2.1 million, $0.3 million is recorded in trade accounts receivable, with the remaining balance recorded in contract assets. |
Balance Sheet Accounts (Tables)
Balance Sheet Accounts (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of inventory | The following table shows the components of inventory (in thousands): September 30, December 31, Raw materials $ 11,431 $ 8,296 Finished goods 4,275 6,251 Total $ 15,706 $ 14,547 |
Schedule of prepaid expenses and other current assets | The following table shows the components of prepaid expenses and other current assets (in thousands): September 30, December 31, Contract asset $ 1,302 $ 1,736 Vendor deposits 2,528 2,802 Deferred costs 558 561 Prepaid insurance 2,414 2,944 Other (1) 3,483 3,942 Total $ 10,285 $ 11,985 (1) Other includes primarily prepaid rent expenses, software licenses and prepaid VAT. |
Schedule of accrued expenses and other current liabilities | The following table shows the components of accrued expenses and other current liabilities (in thousands): September 30, December 31, Accrued payroll and employee related expenses $ 7,342 $ 6,757 Lease liability – short-term 3,238 2,941 Accrued product warranty 766 1,085 Accrued legal expenses 3,473 504 Other (1) 1,424 1,138 Total $ 16,243 $ 12,425 (1) Other includes accrued income taxes, sales taxes, accrued royalties and other miscellaneous accruals. |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets measured at fair value | The following tables set forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy (in thousands): September 30, Quoted Prices Significant Significant Cash equivalents: Money market funds $ 3,072 $ 3,072 $ — $ — Commercial paper 37,435 — 37,435 — U.S. agency securities 4,979 — 4,979 — U.S. government securities 10,979 — 10,979 — Total cash equivalents 56,465 3,072 53,393 — Debt securities, available for sale: Commercial paper 6,128 — 6,128 — U.S. agency securities 1,984 — 1,984 — U.S. government securities 5,963 — 5,963 — Total debt securities, available for sale 14,075 — 14,075 — Total assets measured at fair value $ 70,540 $ 3,072 $ 67,468 $ — December 31, Quoted Prices Significant Significant Cash equivalents: Money market funds $ 25,138 $ 25,138 $ — $ — Total cash equivalents $ 25,138 $ 25,138 $ — $ — |
Schedule of financial instruments not measured at fair value | The carrying values and fair values of the Company’s financial instruments not measured at fair value were as follows (in thousands): September 30, 2022 December 31, 2021 Carrying Fair Value Carrying Fair Value Long-term debt, including current maturities $ 19,810 $ 19,279 $ 19,762 $ 19,298 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Property and equipment, net comprised the following (in thousands): September 30, December 31, Equipment, tooling and molds $ 38,897 $ 33,972 Computer software and equipment 2,733 3,019 Furniture, fixtures and other 2,020 1,891 Leasehold improvements 10,828 6,105 Construction in process 809 4,803 Total property and equipment 55,287 49,790 Less: Accumulated depreciation (27,583) (21,798) Property and equipment, net $ 27,704 $ 27,992 |
Leases (Table)
Leases (Table) | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Schedule of operating lease liabilities maturity | Future payments associated with the Company’s operating lease liabilities as of September 30, 2022 are as follows (in thousands): Operating leases Undiscounted lease payments for the year ending December 31, Remainder of 2022 $ 1,089 2023 4,418 2024 4,507 2025 4,524 2026 4,621 Thereafter 12,223 Total undiscounted lease payments 31,382 Less: implied interest (4,518) Less: tenant improvement allowances receivable (65) Present value of operating lease payments 26,799 Less: current portion (1) (3,238) Total long-term operating lease liabilities $ 23,561 (1) Included in the balance sheet caption “Accrued expenses and other current liabilities.” |
Schedule of supplemental cash flow information related to operating leases | The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands): Nine months ended September 30, 2022 Nine months ended September 30, 2021 Right-of-use assets obtained for new operating lease liabilities $ 386 $ 3,348 Right-of-use assets obtained for new operating lease liabilities - Modification of existing leases $ — $ 8,320 Cash paid for amounts included in the measurement of lease liabilities $ 1,760 $ 2,628 |
Schedule of additional information related to operating leases | The following summarizes additional information related to operating leases: September 30, 2022 December 31, 2021 Weighted-average remaining lease term (years) 6.72 7.51 Weighted-average discount rate 4.67 % 4.67 % |
Notes Payable (Tables)
Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of payments due on notes payable | The following is a schedule of payments due on notes payable as of September 30, 2022 (in thousands): September 30, Year Ending December 31: Remainder of 2022 $ 213 2023 6,617 2024 10,406 2025 4,210 Total payments due 21,446 Less: Interest payments, loan discounts and financing costs (1,636) Current portion, less loan discounts and financing costs (2,483) Notes payable, net of current portion $ 17,327 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of stock-based compensation | Stock-based compensation related to the Company’s stock-based awards was recorded as an expense and allocated as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Cost of sales $ 119 $ 85 $ 238 $ 190 Research and development 1,264 1,508 5,137 4,168 Selling, general and administrative 3,798 4,369 11,764 11,727 Total stock-based compensation $ 5,181 $ 5,962 $ 17,139 $ 16,085 |
Restructuring (Tables)
Restructuring (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Changes in Restructuring Liability | Changes in the Company’s restructuring liability are set forth in the table below (in thousands): Employee severance and termination Restructuring liability as of June 30, 2022 $ — Restructuring charges 1,058 Cash paid (748) Restructuring liability as of September 30, 2022 $ 310 |
Statements of Cash Flows (Table
Statements of Cash Flows (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of cash flow, supplemental disclosures | The supplemental cash flow information consists of the following (in thousands): Nine months ended September 30, 2022 2021 Cash paid for interest $ 422 $ 828 Cash paid for income taxes $ 10 $ 3 Non-cash investing and financing activities Property and equipment transferred to inventory $ 249 $ — Inventory transferred to property and equipment (1) $ — $ 2,830 Change in accounts payable and accrued liabilities related to purchases of property and equipment $ (868) $ 1,238 (1) The non-cash transfer of inventory to property and equipment principally relates to Beacons that were transferred to the Company’s BioFoundry operations in the first and second quarter of 2021. As a result of the growth of the Company’s BioFoundry operations, including growth in the number of Beacons used to fulfill strategic partnerships and services agreements, beginning in the third quarter of 2021, Beacons that at inception are planned to be used in the Company’s BioFoundry operations will be categorized as “Purchase of property and equipment.” |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of product warranty liability | The table below represents the activity in the product warranty accrual included in accrued expenses and other current liabilities on the condensed consolidated balance sheets (in thousands): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Balance, beginning of period $ 752 $ 1,190 $ 1,085 $ 1,271 Adjustments to existing warranties 23 (46) (407) (412) Provision for new warranties 226 354 568 971 Settlement of pre-existing warranties (235) (209) (480) (541) Balance, end of period $ 766 $ 1,289 $ 766 $ 1,289 |
Net Loss Attributable to Comm_2
Net Loss Attributable to Common Stockholders Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of basic and diluted net loss per common share | The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except share and per share data): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Numerator Net loss attributable to common stockholders, basic and diluted $ (21,566) $ (20,403) $ (68,739) $ (53,992) Denominator Weighted-average shares used to compute net income per share, basic and diluted 68,384,115 67,213,282 68,024,937 66,428,303 Net loss per share Net loss per share attributable to common stockholders, basic and diluted $ (0.32) $ (0.30) $ (1.01) $ (0.81) |
Schedule of antidilutive securities excluded from computation of earnings per share | The following shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented as they had an anti-dilutive effect: September 30, 2022 2021 Options to purchase common stock 8,105,378 7,080,020 Restricted stock units 4,723,138 520,494 Total 12,828,516 7,600,514 |
Segments (Tables)
Segments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Summary of revenue by geographic areas | The following table provides the Company’s revenues by geographical market based on the location where the services were provided or to which product was shipped (in thousands): Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 North America $ 9,315 $ 11,134 $ 32,900 $ 27,370 Asia Pacific (1) 8,135 9,797 20,371 27,496 Europe 3,948 3,393 7,483 7,336 $ 21,398 $ 24,324 $ 60,754 $ 62,202 (1) Asia Pacific includes Australia. |
The Company and Basis of Pres_3
The Company and Basis of Presentation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||
Jul. 21, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
Net loss | $ (21,566) | $ (20,403) | $ (68,739) | $ (53,992) | |||
Accumulated deficit | (332,347) | (332,347) | $ (263,608) | ||||
Cash, cash equivalents, and marketable securities | $ 134,700 | $ 134,700 | |||||
Total full-time employees (in percent) | 12% | 12% | |||||
Service center expenses | $ 4,700 | $ 3,800 | $ 9,700 | $ 7,800 |
Marketable Securities - Unreali
Marketable Securities - Unrealized Gains and Losses Related to our Available-for-Sale Marketable Securities (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Debt Securities, Available-for-Sale [Line Items] | |
Amortized Cost | $ 14,085 |
Unrealized Gains | 1 |
Unrealized Losses | (11) |
Fair Value | 14,075 |
Commercial paper | |
Debt Securities, Available-for-Sale [Line Items] | |
Amortized Cost | 6,133 |
Unrealized Gains | 0 |
Unrealized Losses | (5) |
Fair Value | 6,128 |
U.S. agency securities | |
Debt Securities, Available-for-Sale [Line Items] | |
Amortized Cost | 1,983 |
Unrealized Gains | 1 |
Unrealized Losses | 0 |
Fair Value | 1,984 |
U.S. government securities | |
Debt Securities, Available-for-Sale [Line Items] | |
Amortized Cost | 5,969 |
Unrealized Gains | 0 |
Unrealized Losses | (6) |
Fair Value | $ 5,963 |
Significant Risks and Uncerta_2
Significant Risks and Uncertainties Including Business and Credit Concentrations (Details) - Customer | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Revenue | Customer One | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 26% | 16% | 19% | 21% | |
Revenue | Customer Two | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 10% | 15% | 15% | ||
Revenue | Customer Three | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 10% | 10% | |||
Revenue | Customer Four | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 10% | ||||
Accounts Receivable | Customer One | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 30% | 15% | |||
Accounts Receivable | Customer Two | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 14% | 11% | |||
Accounts Receivable | Customer Three | |||||
Concentration Risk [Line Items] | |||||
Concentration risk percentage | 11% |
Revenue From Contracts With C_3
Revenue From Contracts With Customers (Schedule of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 21,398 | $ 24,324 | $ 60,754 | $ 62,202 |
Platform | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 11,760 | 14,128 | 25,590 | 36,633 |
Recurring | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 7,024 | 4,733 | 18,396 | 13,073 |
Partnerships | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 2,614 | 5,463 | 16,768 | 12,496 |
Product | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 15,946 | 16,704 | 35,188 | 43,258 |
Product | Platform | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 11,646 | 13,702 | 24,619 | 35,005 |
Product | Recurring | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 4,300 | 3,002 | 10,569 | 8,253 |
Product | Partnerships | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 0 | 0 | 0 | 0 |
Service | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 5,452 | 7,620 | 25,566 | 18,944 |
Service | Platform | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 114 | 426 | 971 | 1,628 |
Service | Recurring | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 2,724 | 1,731 | 7,827 | 4,820 |
Service | Partnerships | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 2,614 | $ 5,463 | $ 16,768 | $ 12,496 |
Revenue from Contracts with C_4
Revenue from Contracts with Customer (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |||||
Remaining performance obligation | $ 4,300,000 | $ 4,300,000 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
Contract liabilities | 9,200,000 | 9,200,000 | $ 14,300,000 | ||
Contract liability , revenue recognized | 1,300,000 | 11,200,000 | |||
Lease income | $ 0 | $ 0 | $ 0 | $ 2,700,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
Remaining performance obligation, percentage | 44% | 44% | |||
Remaining performance obligation, period | 12 months | 12 months |
Revenue From Contracts With C_5
Revenue From Contracts With Customers (Schedule of Receivables, Contract Assets and Deferred Revenue) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Revenue from Contract with Customer [Abstract] | ||
Trade accounts receivable | $ 20,255 | $ 25,942 |
Contract assets, which are included in “Prepaid expenses and other current assets” | 1,302 | 1,736 |
Contract assets, long-term, which are included in “Other assets” | 681 | 1,070 |
Deferred revenue (current) | 7,733 | 12,128 |
Deferred revenue (non-current) | $ 1,433 | $ 2,187 |
Revenue From Contracts With C_6
Revenue From Contracts With Customers (Sale-type Lease Arrangement) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
Lessor, Lease, Description [Line Items] | |
Remainder of 2022 | $ 1,101 |
2023 | 445 |
2024 | 445 |
2025 | 407 |
Total undiscounted cash flows | 2,398 |
Less: unearned income | 327 |
Total amounts due from customers | 2,071 |
Accounts Receivable, after Allowance for Credit Loss, Current | |
Lessor, Lease, Description [Line Items] | |
Total amounts due from customers | $ 300 |
Balance Sheet Accounts (Invento
Balance Sheet Accounts (Inventory) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Raw materials | $ 11,431 | $ 8,296 |
Finished goods | 4,275 | 6,251 |
Total | $ 15,706 | $ 14,547 |
Balance Sheet Accounts (Prepaid
Balance Sheet Accounts (Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Contract asset | $ 1,302 | $ 1,736 |
Vendor deposits | 2,528 | 2,802 |
Deferred costs | 558 | 561 |
Prepaid insurance | 2,414 | 2,944 |
Other | 3,483 | 3,942 |
Total | $ 10,285 | $ 11,985 |
Balance Sheet Accounts (Accrued
Balance Sheet Accounts (Accrued Expenses and Other Current Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accrued payroll and employee related expenses | $ 7,342 | $ 6,757 |
Lease liability - short-term [Extensible Enumeration] | Total | Total |
Lease liability – short-term | $ 3,238 | $ 2,941 |
Accrued product warranty | 766 | 1,085 |
Accrued legal expenses | 3,473 | 504 |
Other | 1,424 | 1,138 |
Total | $ 16,243 | $ 12,425 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Assets and Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | $ 14,075 | $ 0 |
Fair Value, Measurements, Recurring | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 56,465 | 25,138 |
Total debt securities, available for sale | 14,075 | |
Total assets measured at fair value | 70,540 | |
Fair Value, Measurements, Recurring | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 6,128 | |
Fair Value, Measurements, Recurring | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 1,984 | |
Fair Value, Measurements, Recurring | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 5,963 | |
Fair Value, Measurements, Recurring | Money market funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 3,072 | 25,138 |
Fair Value, Measurements, Recurring | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 37,435 | |
Fair Value, Measurements, Recurring | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 4,979 | |
Fair Value, Measurements, Recurring | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 10,979 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 3,072 | 25,138 |
Total debt securities, available for sale | 0 | |
Total assets measured at fair value | 3,072 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 0 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 0 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 0 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 3,072 | 25,138 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 53,393 | 0 |
Total debt securities, available for sale | 14,075 | |
Total assets measured at fair value | 67,468 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 6,128 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 1,984 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 5,963 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Money market funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 37,435 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 4,979 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 10,979 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | 0 |
Total debt securities, available for sale | 0 | |
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total debt securities, available for sale | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Money market funds | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | $ 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. agency securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. government securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total cash equivalents | $ 0 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments (Schedule of Financial Instruments Not Measured at Fair Value) (Details) - Significant Other Observable Inputs (Level 2) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including current maturities | $ 19,810 | $ 19,762 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including current maturities | $ 19,279 | $ 19,298 |
Property and Equipment, net (Sc
Property and Equipment, net (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 55,287 | $ 49,790 |
Less: Accumulated depreciation | (27,583) | (21,798) |
Property and equipment, net | 27,704 | 27,992 |
Equipment, tooling and molds | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 38,897 | 33,972 |
Computer software and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 2,733 | 3,019 |
Furniture, fixtures and other | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 2,020 | 1,891 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 10,828 | 6,105 |
Construction in process | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 809 | $ 4,803 |
Property and Equipment, net (Na
Property and Equipment, net (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 2,200 | $ 1,300 | $ 6,580 | $ 3,957 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) facility | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) facility | Sep. 30, 2021 USD ($) | |
Lessee, Lease, Description [Line Items] | ||||
Number of facilities | facility | 2 | 2 | ||
Rent expense | $ 1.1 | $ 1 | $ 3.3 | $ 2.7 |
Variable lease payments | $ 0.8 | $ 0.6 | $ 2.3 | $ 1.7 |
Office Space and Laboratory Operations | ||||
Lessee, Lease, Description [Line Items] | ||||
Term of lease | 7 years | 7 years |
Leases (Maturity Schedule of Op
Leases (Maturity Schedule of Operating Lease Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
Remainder of 2022 | $ 1,089 | |
2023 | 4,418 | |
2024 | 4,507 | |
2025 | 4,524 | |
2026 | 4,621 | |
Thereafter | 12,223 | |
Total undiscounted lease payments | 31,382 | |
Less: implied interest | (4,518) | |
Less: tenant improvement allowances receivable | (65) | |
Present value of operating lease payments | 26,799 | |
Less: current portion | (3,238) | $ (2,941) |
Total long-term operating lease liabilities | $ 23,561 | $ 24,337 |
Leases (Schedule of Supplementa
Leases (Schedule of Supplemental Cash Flow Information Related to Operating Leases) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||
Right-of-use assets obtained for new operating lease liabilities | $ 386 | $ 3,348 |
Right-of-use assets obtained for new operating lease liabilities - Modification of existing leases | 0 | 8,320 |
Cash paid for amounts included in the measurement of lease liabilities | $ 1,760 | $ 2,628 |
Leases (Schedule of Additional
Leases (Schedule of Additional Information Related to Operating Leases) (Details) | Sep. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
Weighted-average remaining lease term (in years) | 6 years 8 months 19 days | 7 years 6 months 3 days |
Weighted-average discount rate | 4.67% | 4.67% |
Notes Payable (Narrative) (Deta
Notes Payable (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Jun. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | May 23, 2018 | |
Debt Instrument [Line Items] | ||||||
Interest cost | $ 200,000 | $ 200,000 | $ 700,000 | $ 900,000 | ||
Notes Payable | EWB Loan | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 20,000,000 | |||||
Notes Payable | Term Loan | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 20,000,000 | |||||
Note payable, term (in years) | 48 months | |||||
Interest rate | 4.17% | |||||
Interest-only period | 24 months | |||||
Interest-only period with extension | 36 months | |||||
Line of Credit | Revolving Credit Facility | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 10,000,000 | |||||
Amount outstanding | $ 0 | $ 0 | ||||
Line of Credit | Revolving Credit Facility | Prime Rate | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread on variable rate | 0.70% |
Notes Payable (Schedule of Paym
Notes Payable (Schedule of Payment Due on Notes Payable) (Details) - Notes Payable - Term Loan $ in Thousands | Sep. 30, 2022 USD ($) |
Debt Instrument [Line Items] | |
Remainder of 2022 | $ 213 |
2023 | 6,617 |
2024 | 10,406 |
2025 | 4,210 |
Total payments due | 21,446 |
Interest payments, loan discounts and financing costs | (1,636) |
Current portion, less loan discounts and financing costs | (2,483) |
Notes payable, net of current portion | $ 17,327 |
Stock Compensation Plans (Stock
Stock Compensation Plans (Stock-Based Compensation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | $ 5,181 | $ 5,962 | $ 17,139 | $ 16,085 |
Cost of sales | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 119 | 85 | 238 | 190 |
Research and development | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 1,264 | 1,508 | 5,137 | 4,168 |
Selling, general and administrative | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | $ 3,798 | $ 4,369 | $ 11,764 | $ 11,727 |
Stock Compensation Plans (Narra
Stock Compensation Plans (Narrative) (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
May 19, 2022 USD ($) $ / shares shares | Mar. 10, 2022 shares | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) shares | Sep. 30, 2021 USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock option expense | $ | $ 5,181 | $ 5,962 | $ 17,139 | $ 16,085 | |||
Chief Executive Officer | Minimum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock price goal multiplier of share price on date of grant | 2 | ||||||
Chief Executive Officer | Maximum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock price goal multiplier of share price on date of grant | 20 | ||||||
Stock options | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share price (in dollars per share) | $ / shares | $ 4.91 | ||||||
Options repriced (in shares) | 763,307 | ||||||
Stock option expense | $ | $ 1,500 | $ 500 | |||||
Stock options | Chief Executive Officer | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Options granted (in shares) | 339,059 | ||||||
Vesting period | 3 years | ||||||
Expiration period | 10 years | ||||||
RSU | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock option expense | $ | $ 1,500 | $ 55 | |||||
RSUs granted (in shares) | 353,625 | ||||||
RSU | Chief Executive Officer | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
RSUs granted (in shares) | 1,017,177 | ||||||
Vesting period | 3 years | ||||||
PSO | Chief Executive Officer | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Options granted (in shares) | 678,118 | ||||||
Vesting period | 7 years | ||||||
Expiration period | 10 years | ||||||
Shares vested (in shares) | 0 |
Restructuring - Narrative (Deta
Restructuring - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jul. 21, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Restructuring and Related Activities [Abstract] | |||||
Total full-time employees (in percent) | 12% | 12% | |||
Restructuring charges | $ 1,058 | $ 0 | $ 1,058 | $ 0 |
Restructuring - Changes in Rest
Restructuring - Changes in Restructuring Liability (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Restructuring Reserve [Roll Forward] | ||||
Restructuring charges | $ 1,058 | $ 0 | $ 1,058 | $ 0 |
Employee severance and termination | ||||
Restructuring Reserve [Roll Forward] | ||||
Restructuring liability, beginning balance | 0 | |||
Restructuring charges | 1,058 | |||
Cash paid | (748) | |||
Restructuring liability, ending balance | $ 310 | $ 310 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||||
Provision for income taxes | $ 22 | $ 54 | $ 46 | $ 97 |
Statements of Cash Flows (Detai
Statements of Cash Flows (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Cash paid for interest | $ 422 | $ 828 |
Cash paid for income taxes | 10 | 3 |
Non-cash investing and financing activities | ||
Property and equipment transferred to inventory | 249 | 0 |
Inventory transferred to property and equipment | 0 | 2,830 |
Change in accounts payable and accrued liabilities related to purchases of property and equipment | $ (868) | $ 1,238 |
Commitment and Contingencies (N
Commitment and Contingencies (Narrative) (Details) | 1 Months Ended | 9 Months Ended | |||
Jul. 01, 2021 patent claim | Dec. 31, 2021 investedCompany | Oct. 31, 2020 claim | Aug. 31, 2020 claim | Sep. 30, 2022 USD ($) | |
Loss Contingencies [Line Items] | |||||
Number of counts in amended complaint | 3 | ||||
Number of company invested | investedCompany | 3 | ||||
Loss contingency accrual | $ | $ 0 | ||||
Assurance-type warranty period | 13 months | ||||
AbCellera and UBC | |||||
Loss Contingencies [Line Items] | |||||
Case management order, maximum number of patents allegedly infringed | patent | 2 | ||||
Case management order, maximum asserted patent claims per patent | 4 | ||||
AbCellera, Unfair Competition | |||||
Loss Contingencies [Line Items] | |||||
Counter claims filed | 2 | ||||
AbCellera, Non-Infringement | |||||
Loss Contingencies [Line Items] | |||||
Counter claims filed | 1 |
Commitment and Contingencies (P
Commitment and Contingencies (Product Warranty) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Movement in Standard Product Warranty Accrual [Roll Forward] | ||||
Balance, beginning of period | $ 752 | $ 1,190 | $ 1,085 | $ 1,271 |
Adjustments to existing warranties | 23 | (46) | (407) | (412) |
Provision for new warranties | 226 | 354 | 568 | 971 |
Settlement of pre-existing warranties | (235) | (209) | (480) | (541) |
Balance, end of period | $ 766 | $ 1,289 | $ 766 | $ 1,289 |
Net Loss Attributable to Comm_3
Net Loss Attributable to Common Stockholders Per Share (Schedule of Basic and Diluted Net Loss Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Numerator | ||||
Net loss attributable to common stockholders, basic | $ (21,566) | $ (20,403) | $ (68,739) | $ (53,992) |
Net loss attributable to common stockholders, diluted | $ (21,566) | $ (20,403) | $ (68,739) | $ (53,992) |
Denominator | ||||
Weighted-average shares used to compute net income per share, basic (in shares) | 68,384,115 | 67,213,282 | 68,024,937 | 66,428,303 |
Weighted-average shares used to compute net income per share, diluted (in shares) | 68,384,115 | 67,213,282 | 68,024,937 | 66,428,303 |
Net loss per share | ||||
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.32) | $ (0.30) | $ (1.01) | $ (0.81) |
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.32) | $ (0.30) | $ (1.01) | $ (0.81) |
Net Loss Attributable to Comm_4
Net Loss Attributable to Common Stockholders Per Share (Schedule of Antidilutive Securities) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from the calculation of net loss per share (in shares) | 12,828,516 | 7,600,514 | 12,828,516 | 7,600,514 |
Options to purchase common stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from the calculation of net loss per share (in shares) | 8,105,378 | 7,080,020 | 8,105,378 | 7,080,020 |
Restricted stock units | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from the calculation of net loss per share (in shares) | 4,723,138 | 520,494 | 4,723,138 | 520,494 |
Segments (Details)
Segments (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) segment | Sep. 30, 2021 USD ($) | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Number of operating segments | segment | 1 | |||
Total revenue | $ 21,398 | $ 24,324 | $ 60,754 | $ 62,202 |
North America | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 9,315 | 11,134 | 32,900 | 27,370 |
Asia Pacific | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 8,135 | 9,797 | 20,371 | 27,496 |
Europe | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | $ 3,948 | $ 3,393 | $ 7,483 | $ 7,336 |