Akoya Biosciences (AKYA) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-40344
Entity Registrant Name	Akoya Biosciences, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-5586242
Entity Address, Address Line One	100 Campus Drive
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752
City Area Code	855
Local Phone Number	896-8401
Title of 12(b) Security	Common Stock, par value $0.00001 per share
Trading Symbol	AKYA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,589,555
Entity Central Index Key	0001711933
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 93,938	$ 113,079
Accounts receivable, net	11,314	9,444
Inventories, net	11,373	9,014
Prepaid expenses and other current assets	9,841	9,277
Total current assets	126,466	140,814
Property and equipment, net	7,588	7,487
Restricted cash - long term	302	302
Demo inventory, net	2,225	2,548
Intangible assets, net	20,960	21,150
Goodwill	18,262	18,262
Operating lease right of use assets, net	9,937
Financing lease right of use assets, net	1,047
Other assets	341	344
Total assets	187,128	190,907
Current liabilities
Accounts payable	11,518	9,435
Accrued expenses and other current liabilities	12,138	13,491
Current portion of operating lease liabilities	2,805
Current portion of financing lease liabilities	383
Current portion of capital lease liabilities		272
Deferred revenue	4,892	4,484
Total current liabilities	31,736	27,682
Deferred revenue, net of current portion	1,519	1,330
Long-term debt, net of debt discount	32,576	32,471
Deferred tax liability, net	36	26
Capital lease liabilities, net of current portion		197
Operating lease liabilities, net of current portion	7,506
Financing lease liabilities, net of current portion	448
Contingent consideration liability (Note 4), net of current portion	6,755	7,850
Total liabilities	80,576	69,556
Stockholders' equity
Preferred Stock, $0.00001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2022; 0 shares authorized, issued and outstanding at December 31, 2021
Common Stock, $0.00001 par value; 500,000,000 shares authorized; 37,502,358 shares issued and outstanding at March 31, 2022; 500,000,000 shares authorized; 37,424,101 shares issued and outstanding at December 31, 2021	2	2
Additional paid in capital	219,056	217,456
Accumulated deficit	(112,506)	(96,107)
Total stockholders' equity	106,552	121,351
Total liabilities and stockholders' equity	$ 187,128	$ 190,907

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	37,502,358	37,424,101
Common stock, shares outstanding	37,502,358	37,424,101

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue	$ 16,894	$ 12,212
Cost of goods sold	6,798	4,807
Gross profit	10,096	7,405
Operating expenses:
Selling, general and administrative	18,193	8,179
Research and development	5,714	3,192
Change in fair value of contingent consideration	200	426
Depreciation and amortization	1,543	1,009
Total operating expenses	25,650	12,806
Loss from operations	(15,554)	(5,401)
Other income (expense):
Interest expense, net	(749)	(751)
Change in fair value of warrant liability		(1,870)
Other expense, net	(74)	(66)
Loss before benefit (provision) for income taxes	(16,377)	(8,088)
(Provision) benefit for income taxes	(22)	6
Net loss	(16,399)	(8,082)
Dividends accrued on redeemable convertible preferred stock		(1,190)
Accretion of redeemable convertible preferred stock		(296)
Adjusted net loss attributable to common stockholders	$ (16,399)	$ (9,568)
Net loss per share attributable to common stockholders, basic	$ (0.44)	$ (3.54)
Net loss per share attributable to common stockholders, diluted	$ (0.44)	$ (3.54)
Weighted-average shares outstanding, basic	37,464,496	2,706,133
Weighted-average shares outstanding, diluted	37,464,496	2,706,133
Product
Revenue	$ 13,343	$ 9,963
Cost of goods sold	4,080	3,607
Service and other
Revenue	3,551	2,249
Cost of goods sold	$ 2,718	$ 1,200

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Unaudited) - USD ($) $ in Thousands	Preferred StockSeries B Redeemable Convertible Preferred Stock	Preferred StockSeries C Redeemable Convertible Preferred Stock	Preferred StockSeries D Redeemable Convertible Preferred Stock	Preferred StockSeries A Convertible Preferred Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance, beginning of period at Dec. 31, 2020	$ 11,500	$ 30,107	$ 27,500
Balance, beginning of period (in shares) at Dec. 31, 2020	13,715,330	26,732,361	16,390,217
Increase (Decrease) in Redeemable Convertible Preferred Stock and Stockholders' Equity [Roll Forward]
Accrued dividends	$ 180	$ 510	$ 500						$ 1,190
Balance, end of period at Mar. 31, 2021	$ 11,680	$ 30,617	$ 28,000
Balance, end of period (in shares) at Mar. 31, 2021	13,715,330	26,732,361	16,390,217
Balance, beginning of period at Dec. 31, 2020				$ 1,253		$ 1		$ (52,280)	(51,026)
Balance, beginning of period (in shares) at Dec. 31, 2020				5,013,333		2,563,765
Increase (Decrease) in Redeemable Convertible Preferred Stock and Stockholders' Equity [Roll Forward]
Exercise of stock options							$ 44		44
Exercise of stock options (in shares)						271,334
Accrued dividends							(298)	(892)	(1,190)
Net loss								(8,082)	(8,082)
Stock-based compensation							254		254
Balance, end of period at Mar. 31, 2021				$ 1,253		$ 1		(61,254)	(60,000)
Balance, end of period (in shares) at Mar. 31, 2021				5,013,333		2,835,099
Balance, beginning of period at Dec. 31, 2021					$ 2		217,456	(96,107)	121,351
Balance, beginning of period (in shares) at Dec. 31, 2021					37,424,101
Increase (Decrease) in Redeemable Convertible Preferred Stock and Stockholders' Equity [Roll Forward]
Exercise of stock options							55		55
Exercise of stock options (in shares)					78,257
Net loss								(16,399)	(16,399)
Stock-based compensation							1,545		1,545
Balance, end of period at Mar. 31, 2022					$ 2		$ 219,056	$ (112,506)	$ 106,552
Balance, end of period (in shares) at Mar. 31, 2022					37,502,358

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net loss	$ (16,399)	$ (8,082)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,619	1,041
Non-cash interest expense	105	106
Stock-based compensation expense	1,545	254
Deferred taxes	10	(10)
Change in fair value of contingent consideration	200	426
Change in fair value of warrant liability		1,870
Changes in operating assets and liabilities:
Accounts receivable, net	(1,870)	(120)
Prepaid expenses and other assets	(11,087)	(1,256)
Inventories, net	(2,286)	(430)
Accounts payable	2,083	702
Accrued expenses and other liabilities	7,551	772
Deferred revenue	597	323
Net cash used in operating activities	(17,932)	(4,404)
Investing activities
Purchases of property and equipment	(1,138)	(907)
Net cash used in investing activities	(1,138)	(907)
Financing activities
Proceeds from stock option exercises	55	44
Principal payments on capital leases		(48)
Principal payments on financing leases	(126)
Net cash used in in financing activities	(71)	(4)
Net decrease in cash, cash equivalents, and restricted cash	(19,141)	(5,315)
Cash, cash equivalents, and restricted cash at beginning of year	113,381	17,508
Cash, cash equivalents, and restricted cash at end of year	94,240	12,193
Supplemental disclosures of cash flow information
Cash paid for interest	638	638
Supplemental disclosures of non-cash activities
Purchases of property and equipment included in accounts payable and accrued expenses	$ 887	884
Accretion of dividends on Series B, C, and D Preferred Stock		$ 1,190

The company and basis of presen

The company and basis of presentation	3 Months Ended
	Mar. 31, 2022
The company and basis of presentation
The company and basis of presentation	(1) The company and basis of presentation Description of business Akoya Biosciences, Inc. (“Akoya” or the “Company”) is a life sciences technology company, founded on November 13, 2015 as a Delaware corporation with operations based in Marlborough, Massachusetts and Menlo Park, California, delivering spatial biology solutions focused on transforming discovery and clinical research. Spatial biology refers to an evolving technology that enables academic and biopharma scientists to detect and map the distribution of cell types and biomarkers across whole tissue samples at single cell resolution, enabling advancements in their understanding of disease progression and patient response to therapy. Through Akoya’s PhenoCycler ™ ® ) ™ (formerly ™) On September 28, 2018, the Company acquired the commercial Phenoptics division of PerkinElmer, Inc. (“PKI”) for multiplex immunofluorescence, with the aim of providing consumers with a full suite of end-to-end solutions for high parameter tissue analysis. The Phenoptics technology offers pathology solutions for cancer immunology and immunotherapy research, including advanced multiplex immunochemistry staining kits, multispectral imaging and whole side scanning instruments, and image analysis software. The Company’s combined portfolio of complementary technologies aims to fuel groundbreaking advancements in cancer immunology, immunotherapy, neurology and a wide range of other applications. The Company sells into three main regions across the world: North America, Asia-Pacific (“APAC”), and Europe-Middle East-Africa (“EMEA”). On April 8, 2021, the Board of Directors of the Company (the “Board”) approved a 1-for-2.33 reverse stock split of its issued and outstanding common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s convertible preferred stock, which was effected on April 9, 2021. The par value of the authorized stock was not adjusted as a result of the reverse stock split. Other than the par value, all issued and outstanding shares of common stock and related per share data shown in the accompanying financial statements and related notes have been retroactively revised to reflect the reverse stock split and adjustment of the Preferred Stock conversion ratios. In April 2021, the Company completed the initial public offering of its common stock (the “IPO”). In the IPO, the Company issued and sold 7,567,000 shares of its common stock at a price to the public of $20.00 per share, including the exercise by the underwriters of their option to purchase an additional 987,000 shares. The Company received $138.6 million in net proceeds, after deducting underwriting discounts and commissions and other offering expenses. Immediately prior to completing the IPO, all preferred stock converted into 26,545,579 shares of common stock, and all outstanding shares of the Company’s Class B common stock converted on a 1 for 1 basis into 2,835,099 shares of the Company’s Class A common stock. On April 20, 2021, in connection with the closing of the IPO, the Company’s amended and restated certificate of incorporation, as filed with the Secretary of State of the State of Delaware, and the Company’s amended and restated bylaws became effective. Refer to Note 9 for further details. Principles of consolidation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States generally accepted accounting principles as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The Company’s consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Akoya Biosciences UK Ltd. (“Akoya UK”). All intercompany balances and transactions have been eliminated in consolidation. Unaudited interim financial information The accompanying consolidated balance sheet as of March 31, 2022, the consolidated statements of operations, and the consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) for the three months ended March 31, 2022 and 2021, and the consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 are unaudited. The unaudited interim consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2022, the results of its operations for the three months ended March 31, 2022 and 2021, and cash flows for the three months ended March 31, 2022 and 2021. The financial data and other information disclosed in these notes related to the three months ended March 31, 2022 and 2021 are also unaudited. The results for the three months ended March 31, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period. The consolidated balance sheet as of December 31, 2021 included herein was derived from the audited consolidated financial statements as of that date. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2021 included in the Annual Report on Form 10-K filed with the SEC on March 15, 2022. Liquidity and going concern At March 31, 2022, the Company had cash and cash equivalents of $93,938 and an accumulated deficit of $112,506. The future success of the Company is dependent on its ability to successfully commercialize its products, successfully launch future products, obtain additional capital and ultimately attain profitable operations. The Company has funded its operations primarily through its preferred stock issuances, debt financing arrangements, and the IPO. The Company is subject to a number of risks similar to other newly commercial life sciences companies, including, but not limited to, development and market acceptance of the Company’s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional capital. The Company has incurred losses since its inception and has used cash from operations of $17,932 during the three months ended March 31, 2022. However, we believe that our existing cash and cash equivalents will be adequate to satisfy our current operating plans for at least the next twelve months from the issuance of these financial statements. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Summary of significant accounting policies	(2) 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 three months ended March 31, 2022, with the exception of the adoption of the FASB’s ASU 2016-02, Leases (Topic 842) in the first quarter of 2022. Refer below to “Recently adopted accounting standards” for further information. Revenue recognition The Company follows ASC 606, Revenue from Contracts with Customers The Company generates revenue from the sale and installation of instruments, related warranty services, reagents and software (both company-owned and with third parties). Pursuant to ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration the Company expects to be entitled to receive in exchange for these goods and services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of Topic 606, the Company performs the following five steps: (i) identification of the customer contract; (ii) identification of the performance obligations; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect consideration it is entitled to in exchange for the goods or services it transfers to the customer. The Company evaluates all promised goods and services within a customer contract and determines which of those are separate performance obligations. This evaluation includes an assessment of whether the good or service is capable of being distinct and whether the good or service is separable from other promises in the contract. Promised goods or services are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. Most of the Company’s contracts with customers contain multiple performance obligations (i.e., sale of an instrument and warranty services). For these contracts, the Company accounts for individual performance obligations separately if they are distinct (i.e. capable of being distinct and separable from other promises in the contract). The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Excluded from the transaction price are sales tax and other similar taxes which are presented on a net basis. Product Revenue Product revenue is generated by the sale of instruments and consumable reagents predominantly through the Company’s direct sales force in the United States and in geographic regions outside the United States such as APAC and EMEA. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers. When an instrument is purchased by a customer, the Company recognizes revenue when the related performance obligation is satisfied (i.e. when the control of an instrument has passed to the customer). Revenue from the sale of consumables is recognized upon shipment to the customer. The Company’s perpetual software licenses generally have significant stand-alone functionality to the customer upon delivery and are considered to be functional intellectual property. The Company’s perpetual software licenses are considered distinct performance obligations, and revenue allocated to the software license is typically recognized upon provision of the license/software code to the customer (i.e., when the software is available for access and download by the customer). Service and Other Revenue Product sales of instruments include a service-based warranty typically for one year one-year the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. The Company records shipping and handling billed to customers as service and other revenue and the related costs in cost of service and other revenue in the consolidated statements of operations. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by type of products, and between service and other revenue, as it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The following table disaggregates the Company’s revenue by major source: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2022 March 31, 2021 Revenue ​ ​ Product revenue ​ ​ Instruments ​ $ 8,521 ​ $ 6,837 Consumables ​ 4,628 ​ 2,544 Standalone software products ​ 194 ​ 582 Total product revenue ​ $ 13,343 ​ $ 9,963 Service and other revenue ​ $ 3,551 ​ $ 2,249 Total revenue ​ $ 16,894 ​ $ 12,212 ​ Significant Judgments The Company’s contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together requires significant judgment. Once the Company determines the performance obligations, the Company determines the transaction price, which includes estimating the amount of variable consideration, based on the most likely amount, to be included in the transaction price, if any. The Company then allocates the transaction price to each performance obligation in the contract based on a relative standalone selling price method. The corresponding revenue is recognized as the related performance obligations are satisfied as discussed in the revenue categories above. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company determines standalone selling price based on the price at which the performance obligation in the contract (i.e. instrument, service warranty, installation) would be sold separately. As the first-year warranty for each instrument is embedded in the instrument price, the amount allocated to the first-year warranty has been determined based on the separately identifiable price of the Company’s extended warranty offering when it is sold on a renewal basis. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and the expected costs and margin related to the performance obligations. Contracts in which only one performance obligation is identified (i.e., consumables and standalone software products) do not require allocation of the transaction price. Contract Assets and Liabilities The Company did not record any contract assets at March 31, 2022 or December 31, 2021. The Company’s contract liabilities consist of upfront payments for service-based warranties on instrument sales. The Company classifies these contract liabilities in deferred revenue as current or noncurrent based on the timing of when the Company expects to service the warranty. Cost to Obtain and Fulfill a Contract Under ASC 606, the Company is required to capitalize certain costs to obtain customer contracts and costs to fulfill customer contracts. These costs are required to be amortized to expense on a systemic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates, compared to previously being expensed as incurred. As a practical expedient, the Company recognizes any incremental costs to obtain a contract as an expense when incurred if the amortization period of the asset is one year or less. Capitalizable costs to obtain contracts, such as commissions, and costs to fulfill customer contracts were determined to be immaterial for the three months ended March 31, 2022 and 2021. Stock-based compensation The Company records stock-based compensation for awards granted to employees, non-employees, and to members of the Board for their services on the Board based on the grant date fair value of awards issued, and the expense is recorded on a straight-line basis over the requisite service period, which is generally four years. The Company uses the Black-Scholes-Merton option pricing model to determine the fair value of stock options. The use of the Black-Scholes-Merton option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. The expected term was determined according to the simplified method, which is the average of the vesting tranche dates and the contractual term. Due to the lack of company-specific historical and implied volatility, the Company bases its estimate of expected volatility on the historical volatility of a group of similar companies that are publicly traded. For these analyses, companies with comparable characteristics are selected, including enterprise value and position within the industry, and with historical price information sufficient to meet the expected life of the stock-based awards. The Company computes the historical volatility data using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of its stock-based awards. The risk-free interest rate is determined by reference to the U.S. Treasury zero-coupon issues with remaining maturities similar to the expected term of the options. The Company has not paid, and does not anticipate paying, cash dividends on shares of common stock; therefore, the expected dividend yield is assumed to be zero. For restricted stock units (“RSUs”) issued under the Company’s stock-based compensation plans, the fair value of each grant is calculated based on the Company’s stock price on the date of grant. The Company has elected to account for forfeitures as they occur; any compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition will be reversed in the period of the forfeiture. Refer to Note 10 for further details on the Company’s stock-based compensation plans. Net loss per share attributable to common stockholders Basic and diluted net loss per common share outstanding is determined by dividing net loss, as adjusted for accretion and accrued dividends on redeemable convertible preferred stock, by the weighted average common shares outstanding during the period. Diluted net loss per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if their effect is anti-dilutive. In computing diluted net loss per share, the Company utilizes the treasury stock method. The Company applies the two-class method to compute basic and diluted net loss or income per share when it has issued shares that meet the def i rights to share in the earnings as if all net (loss) income for the period had been distributed. The Company’s convertible preferred stock participates in any dividends declared by the Company and are therefore considered to be participating securities. The participating securities are not required to participate in the losses of the Company, and therefore during periods of loss there is no allocation required under the two-class method. Recent Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. The Company is considered to be an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (Jobs Act). The Jobs Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to avail ourselves of this extended transition period and, as a result, we will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies. Recently adopted accounting standards In February 2016, the FASB issued ASU 2016-02, Leases Targeted Improvements to ASC 842 On January 1, 2022, the Company adopted ASU No. 2016-02, Leases , The Company elected the following practical expedients for all lease asset classes, which must be elected as a package and applied consistently to all of its leases at the transition date: i) the Company did not reassess whether any expired or existing contracts are or contain leases; ii) the Company did not reassess the lease classification for any expired or existing leases; and iii) the Company did not reassess initial direct costs for any existing leases. Refer to Note 17 “Leases” for the adoption impact to our consolidated balance sheet. Recently issued but not yet adopted accounting standards In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment includes a new requirement to disclose the amount of goodwill allocated to reporting units with zero or negative carrying amounts. ASU 2017-04 is effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently evaluating the potential impact that ASU 2017-04 may have on its consolidated financial statements and related disclosures.

Significant risks and uncertain

Significant risks and uncertainties including business and credit concentrations	3 Months Ended
	Mar. 31, 2022
Significant risks and uncertainties including business and credit concentrations
Significant risks and uncertainties including business and credit concentrations	(3) Significant risks and uncertainties including business and credit concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents and receivables. The Company’s cash equivalents are held by large, credit worthy financial institutions. The Company has established guidelines relative to credit ratings, diversification and maturities that seek to maintain safety and liquidity. Deposits in these banks may exceed the amounts of insurance provided on such deposits. To date, the Company has not experienced any losses on its deposits of cash and cash equivalents. The Company controls credit risk through credit approvals, credit limits, 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 probable credit losses in its existing accounts receivable. The Company had an allowance for doubtful accounts of $44 and $45 at March 31, 2022 and December 31, 2021, respectively. For the three months ended March 31, 2022 and 2021, no customers accounted for more than 10% of revenue. As of March 31, 2022 and December 31, 2021, no customers accounted for more than 10% of accounts receivable.

Fair value of financial instrum

Fair value of financial instruments	3 Months Ended
	Mar. 31, 2022
Fair value of financial instruments
Fair value of financial instruments	(4) Fair value of financial instruments The Company measures the following financial liabilities at fair value on a recurring basis. There were no transfers between levels of the fair value hierarchy during any of the periods presented. ​ The following tables set forth the Company’s financial assets and liabilities carried at fair value categorized using the lowest level of input applicable to each financial instrument as of March 31, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ Balance at ​ Identical ​ Observable ​ Unobservable ​ ​ March 31, ​ Assets ​ Inputs ​ Inputs ​ 2022 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ Contingent consideration – Long term portion ​ $ 6,755 ​ $ — ​ $ — ​ $ 6,755 ​ ​ $ 6,755 ​ $ — ​ $ — ​ $ 6,755 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ Balance at ​ Identical ​ Observable ​ Unobservable ​ December 31, Assets Inputs Inputs ​ 2021 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration – Long term portion ​ $ 7,850 ​ $ — ​ $ — ​ $ 7,850 ​ ​ $ 7,850 ​ $ — ​ $ — ​ $ 7,850 ​ The Company’s recurring fair value measurements using Level 3 inputs relate to the Company’s contingent consideration liability and warrant liability. In those circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the contingent payments the Company expects to make as of the acquisition date. The Company re-measures this liability each reporting period and records changes in the fair value through changes in fair value of Contingent consideration on the Company’s consolidated statements of operations. Increases or decreases in the fair value of the contingent consideration liability can result from changes in discount rates, periods, timing and amount of projected revenue. In September 2019, the Company entered into a Loan and Security Agreement with Innovatus Life Sciences Lending Fund I, LP (“Innovatus”), under which Innovatus agreed to make a term loan to the Company in an aggregate principal amount of $25,000 (the “Innovatus Term Loan”). In connection with the Loan and Security Agreement, the Company also issued the lender a warrant to purchase 368,779 additional shares of Series D Preferred Stock, at a purchase price of $1.53 per share. The expiration date of the warrant is September 27, 2029. The holder may at any time and from time to time exercise this warrant, in whole or in part, and on any exercise of the warrant, the holder may elect to receive shares equal to the full value of the warrant or a portion of its full value. Prior to the IPO, since the underlying Series D redeemable convertible preferred stock was classified outside of permanent equity, the preferred stock warrant was classified as other long-term liabilities in the accompanying balance sheet. The preferred stock warrant liability was recorded at fair value utilizing the Black-Scholes model. The Black Scholes option pricing model is based on the estimated market value of the underlying redeemable convertible preferred stock at the valuation measurement date, the remaining contractual term of the warrant, risk-free interest rates, expected dividends, and expected volatility of the price of the underlying redeemable convertible preferred stock. The Company adjusted the carrying value of the preferred stock warrant to its estimated fair value at each reporting date, with any related increase or decrease in the fair value recorded as an increase or decrease to other income (expense) in the statements of operations. In connection with the IPO, the preferred stock warrant was converted to a warrant to purchase shares of the Company’s common stock, pursuant to its preexisting terms. As such, the Company assessed the classification of the common stock warrant and determined it met the criteria to be classified within stockholders’ equity. Accordingly, the fair value of the warrant liability was reclassified to stockholders’ equity. ​ Changes in the fair value of the Company’s long-term portion of the contingent consideration liability during the three months ended March 31, 2022 and 2021 were as follows: ​ ​ ​ ​ ​ Balance as of December 31, 2021 $ 7,850 Reclassification of FY 2022 payment to accrued expenses ​ (1,295) Change in contingent consideration value ​ 200 Balance as of March 31, 2022 ​ $ 6,755 ​ ​ ​ ​ ​ Balance as of December 31, 2020 $ 6,984 Reclassification of FY 2021 payment to accrued expenses ​ (1,150) Change in contingent consideration value ​ 426 Balance as of March 31, 2021 ​ $ 6,260 ​ The recurring Level 3 fair value measurements of the Company’s contingent consideration liability include the following significant unobservable inputs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ as of ​ ​ ​ ​ ​ ​ March 31, ​ Valuation ​ Unobservable Contingent Consideration Liability 2022 Technique Inputs Revenue-based Payments ​ $ 6,755 Discounted Cash Flow Analysis under the Income Approach Revenue discount factor, discount rate ​ Changes in the fair value of the Company’s warrant liability during the three months ended March 31, 2021 were as follows: ​ ​ ​ ​ ​ Balance as of December 31, 2020 $ 490 Change in fair value of warrant liability ​ 1,870 Balance as of March 31, 2021 ​ $ 2,360 ​

Property and equipment, net

Property and equipment, net	3 Months Ended
	Mar. 31, 2022
Property and equipment, net
Property and equipment, net	(5) Property and equipment, net Property and equipment consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Useful ​ March 31, ​ December 31, ​ Life (Years) 2022 2021 Furniture and fixtures 7 ​ $ 360 ​ $ 488 Computers, laptop and peripherals 5 ​ 3,863 ​ 3,590 Laboratory equipment 5 ​ 5,472 ​ 5,906 Leasehold improvements Shorter of the lease life or 7 ​ 2,149 ​ 1,571 Total property and equipment ​ 11,844 ​ 11,555 Less: Accumulated depreciation ​ (4,256) ​ (4,068) Property and equipment, net ​ $ 7,588 ​ $ 7,487 ​ Depreciation expense of $434 and $384 relating to property and equipment was charged to operations for the three months ended March 31, 2022 and 2021, respectively. Depreciation expense of $76 and $0 relating to property and equipment was charged to cost of sales for the three months ended March 31, 2022 and 2021, respectively. Demo inventory consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ March 31, ​ December 31, ​ Life (Years) 2022 2021 Demo inventory – gross 3 ​ $ 3,733 ​ $ 3,733 Less: Accumulated depreciation ​ (1,508) ​ (1,185) Demo inventory, net ​ $ 2,225 ​ $ 2,548 ​ Depreciation expense of $352 and $103 relating to demo equipment was charged to operations for the three months ended March 31, 2022 and 2021, respectively.

Intangible assets and goodwill

Intangible assets and goodwill	3 Months Ended
	Mar. 31, 2022
Intangible assets and goodwill
Intangible assets and goodwill	(6) Intangible assets and goodwill Intangible assets as of March 31, 2022 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ Useful Life ​ Cost Amortization Net (in years) Customer relationships ​ $ 11,800 $ (2,758) $ 9,042 15 Developed technology ​ ​ 8,300 (2,425) 5,875 12 Licenses ​ ​ 63 (26) 37 15 Trade names and trademarks ​ ​ 6,300 (1,929) 4,371 12 Capitalized software ​ ​ 1,687 (89) 1,598 5 Non-compete agreements ​ ​ 300 (263) 37 4 Total intangible assets ​ $ 28,450 $ (7,490) $ 20,960 ​ Intangible assets as of December 31, 2021 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ Useful Life ​ Cost Amortization Net (in years) Customer relationships ​ $ 11,800 $ (2,561) $ 9,239 15 Developed technology ​ ​ 8,300 (2,252) 6,048 12 Licenses ​ ​ 63 (25) 38 15 Trade names and trademarks ​ ​ 6,300 (1,722) 4,578 12 Capitalized software ​ ​ 1,259 (68) 1,191 5 Non-compete agreements ​ ​ 300 (244) 56 4 Total intangible assets ​ $ 28,022 $ (6,872) $ 21,150 ​ Total amortization expense charged to operations for the three months ended March 31, 2022 and 2021 was $618 and $521, respectively. Total amortization expense charged to cost of sales for the three months ended March 31, 2022 and 2021 was $0 and $33, respectively. In November 2015, the Company entered into a license agreement with Stanford University (“Stanford”), pursuant to which Stanford granted the Company an exclusive, worldwide, sublicensable license under certain patent rights to make, use, import and commercialize products for diagnostic, industrial and research and development purposes. In accordance with the agreement, the Company capitalized non-refundable royalties paid to Stanford totaling $63, subject to straight-line amortization over a period of 15 years, or the term of the related agreement. As of March 31, 2022, the amortization expense related to identifiable intangible assets in future periods is expected to be as follows: ​ ​ ​ ​ ​ 2022 remaining $ 1,924 2023 ​ 2,511 2024 ​ 2,630 2025 ​ 2,630 2026 ​ 2,601 Thereafter ​ 8,664 Total ​ $ 20,960 ​ As of March 31, 2022 and December 31, 2021, the goodwill balance is $18,262.

Accrued expenses and other curr

Accrued expenses and other current liabilities	3 Months Ended
	Mar. 31, 2022
Accrued expenses and other current liabilities
Accrued expenses and other current liabilities	(7) Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2022 2021 Payroll and compensation ​ $ 3,528 ​ $ 6,502 Current portion of contingent consideration ​ 2,502 ​ 1,207 Inventory purchases ​ 1,868 ​ 1,877 Other accrued expenses ​ 4,240 ​ 3,905 Total accrued expenses and other current liabilities ​ $ 12,138 ​ $ 13,491 ​

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure
Debt	(8) Debt Term Loan Agreements In October 2020, the Company entered into a debt financing arrangement with Midcap Financial Trust (the “Midcap Trust Term Loan”), for a $37,500 credit facility, consisting of a senior, secured term loan. The Company received $32,500 in aggregate proceeds as a result of the debt financing. The term of the Midcap Trust Term Loan is interest only for 36 months followed by 24 months of straight-line amortization. Interest on the outstanding balance of the Midcap Trust Term Loan shall be payable monthly in arrears at an annual rate of one-month LIBOR plus 6.35%, subject to a LIBOR floor of 1.50%. The interest rate was 7.85% at March 31, 2022. At the time of final payment under the Midcap Trust Term Loan, the Company is required to pay Midcap Financial Trust a final payment fee of 5.00% of the amount borrowed under the Midcap Trust Term Loan. If the Midcap Trust Term Loan is prepaid prior to the end of the term, the Company shall pay to Midcap Financial Trust a fee as compensation for the costs of being prepared to make funds available in an amount determined by multiplying the amount being prepaid by (i) three percent (3.00%) in the first year, two percent, (2.00%) in the second year and one percent (1.00%) in the third year and thereafter. A final payment fee of $1,625 is due upon the earlier to occur of the maturity date or prepayment of such borrowings. For the three months ended March 31, 2022 and 2021, the Company recorded $81, respectively, related to the amortization of the final payment fee associated with the Midcap Trust Term Loan. Debt consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2022 2021 Midcap Trust Term Loan $ 32,500 $ 32,500 Unamortized debt discount ​ (389) ​ (413) Accretion of final fee ​ 465 ​ 384 Long-term debt, net ​ $ 32,576 ​ $ 32,471 ​ As of March 31, 2022, future principal payments due under the Midcap Trust Term Loan, excluding the $1,625 final payment fee, are as follows: ​ ​ ​ ​ ​ ​ ​ Midcap Trust Year Ended: ​ Term Loan December 31, 2022 ​ $ — December 31, 2023 ​ ​ — December 31, 2024 ​ ​ 2,708 December 31, 2025 ​ ​ 16,250 December 31, 2026 ​ ​ 13,542 Total minimum principal payments ​ $ 32,500 ​

Stockholder's equity (deficit)

Stockholder's equity (deficit)	3 Months Ended
	Mar. 31, 2022
Stockholder's equity (deficit)
Stockholder's equity (deficit)	(9) Stockholder’s equity (deficit) The Company’s Amended and Restated Certificate of Incorporation authorizes it to issue 500,000,000 shares of common stock, $0.00001 par value per share, and 10,000,000 shares of preferred stock, par value $0.00001 per share. Each share of Class A common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Board, subject to the prior rights of holders of all classes of stock outstanding. As of March 31, 2022 and December 31, 2021, a total of 37,502,358 and 37,424,101 shares of common stock were issued outstanding

Stock compensation plans

Stock compensation plans	3 Months Ended
	Mar. 31, 2022
Stock compensation plans
Stock compensation plans	(10) Stock compensation plans 2021 Equity Incentive Plan On March 24, 2021, the Board and on April 8, 2021, its stockholders approved and adopted the 2021 Equity Incentive Award Plan (the “2021 Plan”). The 2021 Plan became effective immediately prior to the closing of the IPO. Under the 2021 Plan, the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock or cash-based awards to individuals who are then employees, officers, directors or consultants of the Company. A total of 1,727,953 shares of common stock were approved to be initially reserved for issuance under the 2021 Plan. The number of shares under the Company’s 2015 Equity Incentive Plan (the “2015 Plan”) subject to outstanding awards as of the effective date of the 2021 Plan that are subsequently canceled, forfeited or repurchased by the Company were added to the shares reserved under the 2021 Plan. In addition, the number of shares of common stock available for issuance under the 2021 Plan will be automatically increased on the first day of each calendar year during the ten-year term of the 2021 Plan, beginning with January 1, 2022 and ending with January 1, 2030, by an amount equal to 5% of the outstanding number of shares of the Company’s common stock on December 31st of the preceding calendar year or such lesser amount as determined by the Board. 2015 Equity Incentive Plan The 2015 Plan was established for granting stock incentive awards to directors, officers, employees and consultants to the Company. The 2015 Plan provided for the grant of incentive and non-qualified stock options, stock appreciation rights, restricted stock and restricted stock units as determined by the Board. Under the 2015 Plan, stock options were generally granted with exercise prices equal to or greater than the fair value of the common stock as determined by the Board, expired no later than 10 years from the date of grant, and vested over various periods not exceeding four years. While no shares are available for future issuance under the 2015 Plan, it continues to govern outstanding equity awards granted thereunder. Stock Options During the three months ended March 31, 2022 and 2021, the Company granted options to employees with an aggregate fair value of $4,481 and $9,322, respectively, which are being recorded as compensation expense over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the fair value of stock options. The valuation model for stock compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation including the expected term (weighted-average period of time that the options granted are expected to be outstanding), volatility of the Company’s common stock and an assumed-risk-free interest rate. Expected Volatility. Expected Term. Risk-Free Interest Rate. Dividend Yield During the three months ended March 31, 2022, the Company granted options to purchase 811,000 shares of common stock at a weighted average fair value of $5.54 per share and a weighted average exercise price of $11.20 per share. During the three months ended March 31, 2021, the Company granted options to purchase 1,343,700 shares of common stock at a weighted average fair value of $6.96 per share and a weighted average exercise price of $14.25 per share. For the three months ended March 31, 2022 and 2021, the fair values were estimated using the Black-Scholes valuation model using the following weighted-average assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Three months ended ​ ​ ​ March 31, ​ March 31, ​ ​ ​ 2022 2021 ​ ​ ​ ​ ​ ​ Weighted-average risk-free interest rate ​ 2.0 % 1.0 % Expected dividend yield ​ 0 % 0 % Expected volatility ​ 49.9 % 51.0 % Expected term ​ 6.0 years 6.1 years ​ Restricted Stock Units ​ During the three months ended March 31, 2022, the Company granted RSUs to employees with an aggregate fair value of $1,634, which are being recorded as compensation expense over the requisite service period. The fair value of each grant is calculated based on the Company’s stock price on the date of grant. During the three months ended March 31, 2022, the Company granted 137,500 shares of restricted common stock at a weighted average fair value of $11.88 per share. Stock-Based Compensation ​ Stock-based compensation related to the Company’s stock-based awards was recorded as an expense and allocated as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 Cost of goods sold ​ $ 47 ​ $ 16 Selling, general and administrative ​ 1,225 ​ 183 Research and development ​ 273 ​ 55 Total stock-based compensation ​ $ 1,545 ​ $ 254 ​ As of March 31, 2022, and 2021, there was $18,700 and $9,051, respectively, of total unrecognized compensation cost related to non-vested stock options. The Company expects to recognize that cost over a remaining weighted-average period of 3.3 and 3.9 years as of March 31, 2022 and 2021, respectively. As of March 31, 2022 there was $1,625 of total unrecognized compensation cost related to non-vested RSUs. The Company expects to recognize that cost over a remaining weighted-average period of 4.0 years as of March 31, 2022.

Employee stock purchase plan

Employee stock purchase plan	3 Months Ended
	Mar. 31, 2022
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee stock purchase plan	(10) Stock compensation plans 2021 Equity Incentive Plan On March 24, 2021, the Board and on April 8, 2021, its stockholders approved and adopted the 2021 Equity Incentive Award Plan (the “2021 Plan”). The 2021 Plan became effective immediately prior to the closing of the IPO. Under the 2021 Plan, the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock or cash-based awards to individuals who are then employees, officers, directors or consultants of the Company. A total of 1,727,953 shares of common stock were approved to be initially reserved for issuance under the 2021 Plan. The number of shares under the Company’s 2015 Equity Incentive Plan (the “2015 Plan”) subject to outstanding awards as of the effective date of the 2021 Plan that are subsequently canceled, forfeited or repurchased by the Company were added to the shares reserved under the 2021 Plan. In addition, the number of shares of common stock available for issuance under the 2021 Plan will be automatically increased on the first day of each calendar year during the ten-year term of the 2021 Plan, beginning with January 1, 2022 and ending with January 1, 2030, by an amount equal to 5% of the outstanding number of shares of the Company’s common stock on December 31st of the preceding calendar year or such lesser amount as determined by the Board. 2015 Equity Incentive Plan The 2015 Plan was established for granting stock incentive awards to directors, officers, employees and consultants to the Company. The 2015 Plan provided for the grant of incentive and non-qualified stock options, stock appreciation rights, restricted stock and restricted stock units as determined by the Board. Under the 2015 Plan, stock options were generally granted with exercise prices equal to or greater than the fair value of the common stock as determined by the Board, expired no later than 10 years from the date of grant, and vested over various periods not exceeding four years. While no shares are available for future issuance under the 2015 Plan, it continues to govern outstanding equity awards granted thereunder. Stock Options During the three months ended March 31, 2022 and 2021, the Company granted options to employees with an aggregate fair value of $4,481 and $9,322, respectively, which are being recorded as compensation expense over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the fair value of stock options. The valuation model for stock compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation including the expected term (weighted-average period of time that the options granted are expected to be outstanding), volatility of the Company’s common stock and an assumed-risk-free interest rate. Expected Volatility. Expected Term. Risk-Free Interest Rate. Dividend Yield During the three months ended March 31, 2022, the Company granted options to purchase 811,000 shares of common stock at a weighted average fair value of $5.54 per share and a weighted average exercise price of $11.20 per share. During the three months ended March 31, 2021, the Company granted options to purchase 1,343,700 shares of common stock at a weighted average fair value of $6.96 per share and a weighted average exercise price of $14.25 per share. For the three months ended March 31, 2022 and 2021, the fair values were estimated using the Black-Scholes valuation model using the following weighted-average assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Three months ended ​ ​ ​ March 31, ​ March 31, ​ ​ ​ 2022 2021 ​ ​ ​ ​ ​ ​ Weighted-average risk-free interest rate ​ 2.0 % 1.0 % Expected dividend yield ​ 0 % 0 % Expected volatility ​ 49.9 % 51.0 % Expected term ​ 6.0 years 6.1 years ​ Restricted Stock Units ​ During the three months ended March 31, 2022, the Company granted RSUs to employees with an aggregate fair value of $1,634, which are being recorded as compensation expense over the requisite service period. The fair value of each grant is calculated based on the Company’s stock price on the date of grant. During the three months ended March 31, 2022, the Company granted 137,500 shares of restricted common stock at a weighted average fair value of $11.88 per share. Stock-Based Compensation ​ Stock-based compensation related to the Company’s stock-based awards was recorded as an expense and allocated as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 Cost of goods sold ​ $ 47 ​ $ 16 Selling, general and administrative ​ 1,225 ​ 183 Research and development ​ 273 ​ 55 Total stock-based compensation ​ $ 1,545 ​ $ 254 ​ As of March 31, 2022, and 2021, there was $18,700 and $9,051, respectively, of total unrecognized compensation cost related to non-vested stock options. The Company expects to recognize that cost over a remaining weighted-average period of 3.3 and 3.9 years as of March 31, 2022 and 2021, respectively. As of March 31, 2022 there was $1,625 of total unrecognized compensation cost related to non-vested RSUs. The Company expects to recognize that cost over a remaining weighted-average period of 4.0 years as of March 31, 2022.
ESPP
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee stock purchase plan	(11) Employee stock purchase plan On March 24, 2021, the Board and on April 8, 2021, its stockholders approved and adopted the 2021 Employee Stock Purchase Plan (the “ESPP”). The ESPP became effective in connection with the closing of the Company’s IPO. The ESPP permits participants to purchase common stock through payroll deductions of up to 15% of their eligible compensation. A total of 172,795 shares of common stock were approved to be initially reserved for issuance under the ESPP. In addition, the number of shares of common stock available for issuance under the ESPP will be automatically increased on the first day of each calendar year during the first ten-years of the term of the ESPP, beginning with January 1, 2022 and ending with January 1, 2030, by an amount equal to 0.5% of the outstanding number of shares of the Company’s common stock on December 31st of the preceding calendar year or such lesser amount as determined by the Board. No shares have been issued under the ESPP at March 31, 2022.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2022
Income taxes
Income taxes	(12) Income taxes During the three months ended March 31, 2022 and 2021, the Company recorded a tax (provision) benefit of ($22) and $6, respectively. The tax benefit and provision consist primarily of foreign income taxes and state taxes in the United States. The provision differs from the U.S. federal statutory rate of 21% primarily due to the full valuation allowance recorded against the U.S. deferred tax assets, including the current year to date losses. The Company maintains a valuation allowance against its U.S. deferred tax assets as the Company believes it is more likely than not the deferred tax assets will not be realized.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and contingencies
Commitments and contingencies	(13) Commitments and contingencies License Agreements In November 2015, the Company entered into a license agreement with The Board of Trustees of the Leland Stanford Junior University (“Stanford”), pursuant to which Stanford granted the Company an exclusive, worldwide, sublicensable license under certain patent rights to make, use, import and commercialize products for diagnostic, industrial and research and development purposes. The Company agreed to pay annual license maintenance fees ranging from $20 to $50 for the royalty-bearing license to certain patents. The Company also issued a total of 91,559 shares of Class B common stock pursuant to the agreement in 2015, which converted to Class A common stock on April 8, 2021. Such shares were recorded at fair value at the date of issuance. The Company is required to pay royalties on net sales of products that are covered by patent rights under the agreement at a rate of 2.25%, subject to reductions and offsets in certain circumstances. In September 2018, in connection with the acquisition of the QPS division of PKI, the Company entered into a License Agreement with PKI, pursuant to which PKI granted the Company an exclusive, nontransferable, sublicensable license under certain patent rights to make, use, import and commercialize QPS products and services. The Company is required to pay royalties on net sales of products and services that are covered by patent rights under the agreement at a rate ranging from 1.0% to 7.0%. The Company recorded approximately $1,295 and $1,207 of accrued royalties in connection with this agreement as of March 31, 2022 and December 31, 2021, respectively, payable in the first quarter of 2023 and 2022, respectively. Research Agreements In 2019 the Company entered into a research arrangement with an unrelated third party. Under this arrangement, we are obligated to pay such third party $415 and $120 in 2022 and 2023, respectively.

Net loss per share attributable

Net loss per share attributable to common stockholders	3 Months Ended
	Mar. 31, 2022
Net loss per share attributable to common stockholders
Net loss per share attributable to common stockholders	(14) Net loss per share attributable to common stockholders Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards. 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (16,399) ​ $ (8,082) Dividends accrued on redeemable convertible preferred stock ​ — ​ (1,190) Accretion of redeemable convertible preferred stock ​ — ​ (296) Adjusted net loss attributable to common stockholders ​ $ (16,399) ​ $ (9,568) Weighted average common shares used in net loss per share attributable to common stockholders, basic and diluted ​ 37,464,496 ​ 2,706,133 Basic and diluted net loss per common share outstanding ​ $ (0.44) ​ $ (3.54) ​ The Company’s potential dilutive securities, which include stock options, unvested restricted stock units, convertible preferred stock, and the outstanding warrant, have been excluded from the computation of diluted net loss per share attributable to common stockholders whenever the effect of including them would be to reduce the net loss per share. In periods where there is a net loss, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The following potential common shares, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 Series A Convertible Preferred Stock (as converted to common stock) ​ — ​ 2,151,641 Series B Redeemable Convertible Preferred Stock (as converted to common stock) — 5,886,405 Series C Redeemable Convertible Preferred Stock (as converted to common stock) — 11,473,110 Series D Redeemable Convertible Preferred Stock (as converted to common stock) — 7,034,423 Outstanding stock options 6,296,781 4,947,296 Unvested restricted stock units ​ 137,500 ​ — Performance-based stock options — 21,459 Warrant to purchase Series D convertible preferred stock (as converted to common stock) — 158,274 Warrant to purchase common stock ​ 158,274 ​ — Total 6,592,555 31,672,608 ​

Segments

Segments	3 Months Ended
	Mar. 31, 2022
Segments
Segments	(15) 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 a single 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ North America ​ $ 9,324 ​ $ 5,209 APAC ​ ​ 3,509 ​ 3,690 EMEA ​ ​ 4,061 ​ 3,313 Total Revenue ​ $ 16,894 ​ $ 12,212 ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ North America 55 % 43 % APAC 21 % 30 % EMEA 24 % 27 % Total Revenue 100 % 100 % ​ North America includes the United States and related territories, as well as Canada. APAC also includes Australia. For the three months ended March 31, 2022, we had no countries with more than 10% revenue outside of the United States. For the three months ended March 31, 2021, we had one country outside of the United States with 18% of total revenue. As of March 31, 2022 and December 31, 2021, substantially all of the Company’s long-lived assets are located in the United States.

Related party transactions

Related party transactions	3 Months Ended
	Mar. 31, 2022
Related party transactions
Related party transactions	(16) Related party transactions Argonaut Manufacturing Services Inc. (“AMS”) is a portfolio company of Telegraph Hill Partners, which holds greater than 5% of our total outstanding shares. During the three months ended March 31, 2022 and 2021, the Company incurred costs of goods sold of approximately $971 and $491, respectively, related to sales of consumables manufactured by AMS. As of March 31, 2022 and December 31, 2021, $5,390 and $4,263, respectively, is included in inventory related to consumables manufactured by AMS. As of March 31, 2022 and December 31, 2021, the Company had $1,967 and $1,700 in accounts payable, respectively, due to AMS.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases
Leases	(17) Leases On January 1, 2022, the Company adopted ASU No. 2016-02, Leases ​ Adoption of the new standard resulted in the recording of $10,409 of operating lease right of use assets, $673 of financing lease right of use assets, $2,741 of short-term operating lease liabilities, $272 of short-term financing operating lease liabilities, $7,968 of long-term operating lease liabilities, and $197 of long-term financing lease liabilities. The difference between the operating lease liabilities and operating right of use assets is associated with existing deferred rent under ASC 840. The following table summarizes the amount by which each financial statement line item was affected in the current reporting period due to the adoption of ASC 842 as compared with the guidance that was in effect before the change. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ASC 842 Adjustment ​ January 1, 2022 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right of use assets, net ​ $ — ​ $ 10,409 ​ $ 10,409 Financing lease right of use assets, net ​ ​ — ​ ​ 673 ​ ​ 673 Property and equipment, net ​ ​ 673 ​ ​ (673) ​ ​ — Total assets ​ $ 190,907 ​ $ 10,409 ​ $ 201,316 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and stockholders' equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred rent ​ $ 300 ​ $ (300) ​ $ — Current portion of capital lease liabilities ​ ​ 272 ​ ​ (272) ​ ​ — Current portion of operating lease liabilities ​ ​ — ​ ​ 2,741 ​ ​ 2,741 Current portion of financing lease liabilities ​ ​ — ​ ​ 272 ​ ​ 272 Total current liabilities ​ ​ 27,682 ​ ​ 2,441 ​ ​ 30,123 Capital lease liabilities, net of current portion ​ ​ 197 ​ ​ (197) ​ ​ — Operating lease liabilities, net of current portion ​ ​ — ​ ​ 7,968 ​ ​ 7,968 Financing lease liabilities, net of current portion ​ ​ — ​ ​ 197 ​ ​ 197 Total liabilities ​ ​ 69,556 ​ ​ 10,409 ​ ​ 79,965 Stockholders' equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity ​ ​ 121,351 ​ ​ — ​ ​ 121,351 Total liabilities and stockholders' equity ​ $ 190,907 ​ $ 10,409 ​ $ 201,316 ​ The Company considers a lease to be a contract, or part of a contract, that conveys the right to control the use of identified property or equipment (an identified asset) for a period of time in exchange for consideration. The Company leases office, lab, and warehouse spaces as follows: ​ In July 2019, the Company entered into a seven-year office lease agreement for office and laboratory space in Marlborough, MA. In connection with this agreement, the Company paid a security deposit totaling $450 in the form of a letter of credit. On June 18, 2021, the Company entered into an amendment to reduce its letter of credit to $300. The Company’s letter of credit is recorded as restricted cash in the consolidated balance sheet. In July 2019, the Company signed a seven-year lease agreement for office and laboratory space in Menlo Park, CA. In connection with this agreement, the Company paid a security deposit totaling $181, which is recorded as a component of long-term assets in the consolidated balance sheet; the lease commencement date was May 2020. In July of 2021, the Company signed a 70-month In August 2021, the Company signed a 30-month In March 2022, the Company signed a 96-month lease with Atlantic-Fulcrum Realty LLC for warehouse space in Marlborough, MA. The leased premises ranges from approximately 16,068 rentable square feet to 32,125 rentable square feet during the lease term. The lease commencement ranging from $193 to $452 in annual rent throughout the lease term. We hold various auto leases which have an initial term of 48 months. For the three months ended March 31, 2022, the Company entered into two financing leases for staining equipment. The Company also holds financing leases for computer equipment, staining equipment, and furniture which the Company was accounting for as capital leases prior to our adoption of ASC 842. ​ Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For these lease agreements, we have elected the practical expedient to not separate non-lease and lease components ​ Under Topic 842, lease payments include: fixed payments, including in-substance fixed payments, less any lease incentives paid or payable to the lessee; variable lease payments that depend on an index or a rate; exercise price of a purchase option reasonably certain to be exercised; penalties for terminating a lease; and amounts where it is probable that we will owe under a residual value guarantee. Refundable deposits are not considered to be a fixed payment. Variable lease costs that are not based on an index or a rate are recorded to expenses in the period incurred. Lease term is determined at lease commencement. The initial determination of a lease liability is calculated as the net present value of the lease payments not yet paid. ​ Some leases include an option to renew, with renewal terms that can extend the lease term by five years. The exercise of lease renewal options is at our sole discretion. None of these options to renew are recognized as part of our right-to-use asset or lease liability as of March 31, 2022, as renewal was determined to not be reasonably assured. The depreciable life of assets and leasehold improvements are limited by the expected lease term. We recognize lease expense for operating leases on a straight-line basis over the lease term. We recognize amortization expense for finance leases over the lease term based on the terms of the lease agreement. ​ Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. ​ As most of our leases do not provide an implicit rate, the Company used our incremental borrowing rate based on the information available at the adoption or commencement date, in determining the present value of lease payments. ​ The table below summarizes our lease costs for the three months ended March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ March 31, Lease Costs ​ Classification ​ 2022 Finance lease cost: ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Depreciation and amortization ​ $ 139 Interest on lease liabilities ​ Interest expense, net ​ ​ 6 Operating lease cost ​ Selling, general and administrative ​ ​ 710 Total lease cost ​ ​ ​ $ 855 ​ ​ As of March 31, 2022, future minimum commitments under ASC 842 under the Company’s operating leases were as follows: ​ ​ ​ ​ ​ Maturity of operating lease liabilities ​ As of March 31, 2022 Remainder 2022 ​ $ 2,212 2023 ​ ​ 2,739 2024 ​ ​ 2,286 2025 ​ ​ 2,255 2026 ​ ​ 2,107 2027 and thereafter ​ ​ 682 Total lease payments ​ $ 12,281 Less: discount to lease payments ​ ​ (1,970) Total operating lease liabilities ​ $ 10,311 ​ As of March 31, 2022, future minimum commitments under ASC 842 under the Company’s financing leases were as follows: ​ ​ ​ ​ ​ Maturity of financing lease liabilities ​ As of March 31, 2022 Remainder 2022 ​ $ 328 2023 ​ ​ 356 2024 ​ ​ 228 2025 ​ ​ 23 2026 ​ ​ — 2027 and thereafter ​ ​ — Total lease payments ​ $ 935 Less: discount to lease payments ​ ​ (103) Total financing lease liabilities ​ $ 832 ​ The table below summarizes the weighted-average remaining lease term (in years), the weighted-average incremental borrowing rate (in percentages), as well as supplemental cash flow information related to leases for the three months ended March 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Lease Term, Discount Rates, and Other ​ March 31, 2022 Weighted average remaining lease term ​ ​ ​ ​ Operating leases ​ ​ 4.6 years Financing leases ​ ​ 2.4 years Weighted average incremental borrowing rate ​ ​ ​ ​ Operating leases ​ ​ 7.85 % Financing leases ​ ​ 4.97 % Cash payments of amounts included in lease liabilities ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 637 ​ Operating cash flows from finance leases ​ ​ 6 ​ Financing cash flows from finance leases ​ ​ 126 ​ ​

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent events	(18) Subsequent events The Company has evaluated subsequent events from the consolidated balance sheet date through May 5, 2022, which is the date the consolidated financial statements were issued.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Revenue recognition	Revenue recognition The Company follows ASC 606, Revenue from Contracts with Customers The Company generates revenue from the sale and installation of instruments, related warranty services, reagents and software (both company-owned and with third parties). Pursuant to ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration the Company expects to be entitled to receive in exchange for these goods and services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of Topic 606, the Company performs the following five steps: (i) identification of the customer contract; (ii) identification of the performance obligations; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect consideration it is entitled to in exchange for the goods or services it transfers to the customer. The Company evaluates all promised goods and services within a customer contract and determines which of those are separate performance obligations. This evaluation includes an assessment of whether the good or service is capable of being distinct and whether the good or service is separable from other promises in the contract. Promised goods or services are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. Most of the Company’s contracts with customers contain multiple performance obligations (i.e., sale of an instrument and warranty services). For these contracts, the Company accounts for individual performance obligations separately if they are distinct (i.e. capable of being distinct and separable from other promises in the contract). The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Excluded from the transaction price are sales tax and other similar taxes which are presented on a net basis. Product Revenue Product revenue is generated by the sale of instruments and consumable reagents predominantly through the Company’s direct sales force in the United States and in geographic regions outside the United States such as APAC and EMEA. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers. When an instrument is purchased by a customer, the Company recognizes revenue when the related performance obligation is satisfied (i.e. when the control of an instrument has passed to the customer). Revenue from the sale of consumables is recognized upon shipment to the customer. The Company’s perpetual software licenses generally have significant stand-alone functionality to the customer upon delivery and are considered to be functional intellectual property. The Company’s perpetual software licenses are considered distinct performance obligations, and revenue allocated to the software license is typically recognized upon provision of the license/software code to the customer (i.e., when the software is available for access and download by the customer). Service and Other Revenue Product sales of instruments include a service-based warranty typically for one year one-year the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. The Company records shipping and handling billed to customers as service and other revenue and the related costs in cost of service and other revenue in the consolidated statements of operations. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by type of products, and between service and other revenue, as it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The following table disaggregates the Company’s revenue by major source: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2022 March 31, 2021 Revenue ​ ​ Product revenue ​ ​ Instruments ​ $ 8,521 ​ $ 6,837 Consumables ​ 4,628 ​ 2,544 Standalone software products ​ 194 ​ 582 Total product revenue ​ $ 13,343 ​ $ 9,963 Service and other revenue ​ $ 3,551 ​ $ 2,249 Total revenue ​ $ 16,894 ​ $ 12,212 ​ Significant Judgments The Company’s contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together requires significant judgment. Once the Company determines the performance obligations, the Company determines the transaction price, which includes estimating the amount of variable consideration, based on the most likely amount, to be included in the transaction price, if any. The Company then allocates the transaction price to each performance obligation in the contract based on a relative standalone selling price method. The corresponding revenue is recognized as the related performance obligations are satisfied as discussed in the revenue categories above. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company determines standalone selling price based on the price at which the performance obligation in the contract (i.e. instrument, service warranty, installation) would be sold separately. As the first-year warranty for each instrument is embedded in the instrument price, the amount allocated to the first-year warranty has been determined based on the separately identifiable price of the Company’s extended warranty offering when it is sold on a renewal basis. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and the expected costs and margin related to the performance obligations. Contracts in which only one performance obligation is identified (i.e., consumables and standalone software products) do not require allocation of the transaction price. Contract Assets and Liabilities The Company did not record any contract assets at March 31, 2022 or December 31, 2021. The Company’s contract liabilities consist of upfront payments for service-based warranties on instrument sales. The Company classifies these contract liabilities in deferred revenue as current or noncurrent based on the timing of when the Company expects to service the warranty. Cost to Obtain and Fulfill a Contract Under ASC 606, the Company is required to capitalize certain costs to obtain customer contracts and costs to fulfill customer contracts. These costs are required to be amortized to expense on a systemic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates, compared to previously being expensed as incurred. As a practical expedient, the Company recognizes any incremental costs to obtain a contract as an expense when incurred if the amortization period of the asset is one year or less. Capitalizable costs to obtain contracts, such as commissions, and costs to fulfill customer contracts were determined to be immaterial for the three months ended March 31, 2022 and 2021.
Stock-based compensation	Stock-based compensation The Company records stock-based compensation for awards granted to employees, non-employees, and to members of the Board for their services on the Board based on the grant date fair value of awards issued, and the expense is recorded on a straight-line basis over the requisite service period, which is generally four years. The Company uses the Black-Scholes-Merton option pricing model to determine the fair value of stock options. The use of the Black-Scholes-Merton option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. The expected term was determined according to the simplified method, which is the average of the vesting tranche dates and the contractual term. Due to the lack of company-specific historical and implied volatility, the Company bases its estimate of expected volatility on the historical volatility of a group of similar companies that are publicly traded. For these analyses, companies with comparable characteristics are selected, including enterprise value and position within the industry, and with historical price information sufficient to meet the expected life of the stock-based awards. The Company computes the historical volatility data using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of its stock-based awards. The risk-free interest rate is determined by reference to the U.S. Treasury zero-coupon issues with remaining maturities similar to the expected term of the options. The Company has not paid, and does not anticipate paying, cash dividends on shares of common stock; therefore, the expected dividend yield is assumed to be zero. For restricted stock units (“RSUs”) issued under the Company’s stock-based compensation plans, the fair value of each grant is calculated based on the Company’s stock price on the date of grant. The Company has elected to account for forfeitures as they occur; any compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition will be reversed in the period of the forfeiture. Refer to Note 10 for further details on the Company’s stock-based compensation plans.
Net loss per share attributable to common stockholders	Net loss per share attributable to common stockholders Basic and diluted net loss per common share outstanding is determined by dividing net loss, as adjusted for accretion and accrued dividends on redeemable convertible preferred stock, by the weighted average common shares outstanding during the period. Diluted net loss per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if their effect is anti-dilutive. In computing diluted net loss per share, the Company utilizes the treasury stock method. The Company applies the two-class method to compute basic and diluted net loss or income per share when it has issued shares that meet the def i rights to share in the earnings as if all net (loss) income for the period had been distributed. The Company’s convertible preferred stock participates in any dividends declared by the Company and are therefore considered to be participating securities. The participating securities are not required to participate in the losses of the Company, and therefore during periods of loss there is no allocation required under the two-class method.
Recent Accounting Standards	Recent Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. The Company is considered to be an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (Jobs Act). The Jobs Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to avail ourselves of this extended transition period and, as a result, we will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies. Recently adopted accounting standards In February 2016, the FASB issued ASU 2016-02, Leases Targeted Improvements to ASC 842 On January 1, 2022, the Company adopted ASU No. 2016-02, Leases , The Company elected the following practical expedients for all lease asset classes, which must be elected as a package and applied consistently to all of its leases at the transition date: i) the Company did not reassess whether any expired or existing contracts are or contain leases; ii) the Company did not reassess the lease classification for any expired or existing leases; and iii) the Company did not reassess initial direct costs for any existing leases. Refer to Note 17 “Leases” for the adoption impact to our consolidated balance sheet. Recently issued but not yet adopted accounting standards In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment includes a new requirement to disclose the amount of goodwill allocated to reporting units with zero or negative carrying amounts. ASU 2017-04 is effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently evaluating the potential impact that ASU 2017-04 may have on its consolidated financial statements and related disclosures.

Summary of Significant accoun_3

Summary of Significant accounting policies (Tables)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, 2022 March 31, 2021 Revenue ​ ​ Product revenue ​ ​ Instruments ​ $ 8,521 ​ $ 6,837 Consumables ​ 4,628 ​ 2,544 Standalone software products ​ 194 ​ 582 Total product revenue ​ $ 13,343 ​ $ 9,963 Service and other revenue ​ $ 3,551 ​ $ 2,249 Total revenue ​ $ 16,894 ​ $ 12,212

Fair value of financial instr_2

Fair value of financial instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Schedule of financial liabilities at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ Balance at ​ Identical ​ Observable ​ Unobservable ​ ​ March 31, ​ Assets ​ Inputs ​ Inputs ​ 2022 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ Contingent consideration – Long term portion ​ $ 6,755 ​ $ — ​ $ — ​ $ 6,755 ​ ​ $ 6,755 ​ $ — ​ $ — ​ $ 6,755 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ Balance at ​ Identical ​ Observable ​ Unobservable ​ December 31, Assets Inputs Inputs ​ 2021 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration – Long term portion ​ $ 7,850 ​ $ — ​ $ — ​ $ 7,850 ​ ​ $ 7,850 ​ $ — ​ $ — ​ $ 7,850
Warrant liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Schedule of changes in the fair value of the liability	​ ​ ​ ​ ​ Balance as of December 31, 2020 $ 490 Change in fair value of warrant liability ​ 1,870 Balance as of March 31, 2021 ​ $ 2,360
Contingent consideration - Long term portion
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Schedule of changes in the fair value of the liability	​ ​ ​ ​ ​ Balance as of December 31, 2021 $ 7,850 Reclassification of FY 2022 payment to accrued expenses ​ (1,295) Change in contingent consideration value ​ 200 Balance as of March 31, 2022 ​ $ 6,755 ​ ​ ​ ​ ​ Balance as of December 31, 2020 $ 6,984 Reclassification of FY 2021 payment to accrued expenses ​ (1,150) Change in contingent consideration value ​ 426 Balance as of March 31, 2021 ​ $ 6,260
Schedule of significant unobservable inputs for fair value measurements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ as of ​ ​ ​ ​ ​ ​ March 31, ​ Valuation ​ Unobservable Contingent Consideration Liability 2022 Technique Inputs Revenue-based Payments ​ $ 6,755 Discounted Cash Flow Analysis under the Income Approach Revenue discount factor, discount rate

Property and equipment, net (Ta

Property and equipment, net (Tables)	3 Months Ended
	Mar. 31, 2022
Property and equipment, net
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Useful ​ March 31, ​ December 31, ​ Life (Years) 2022 2021 Furniture and fixtures 7 ​ $ 360 ​ $ 488 Computers, laptop and peripherals 5 ​ 3,863 ​ 3,590 Laboratory equipment 5 ​ 5,472 ​ 5,906 Leasehold improvements Shorter of the lease life or 7 ​ 2,149 ​ 1,571 Total property and equipment ​ 11,844 ​ 11,555 Less: Accumulated depreciation ​ (4,256) ​ (4,068) Property and equipment, net ​ $ 7,588 ​ $ 7,487
Schedule of Demo inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ March 31, ​ December 31, ​ Life (Years) 2022 2021 Demo inventory – gross 3 ​ $ 3,733 ​ $ 3,733 Less: Accumulated depreciation ​ (1,508) ​ (1,185) Demo inventory, net ​ $ 2,225 ​ $ 2,548

Intangible assets and goodwill

Intangible assets and goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Intangible assets and goodwill
Schedule of Intangible assets	Intangible assets as of March 31, 2022 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ Useful Life ​ Cost Amortization Net (in years) Customer relationships ​ $ 11,800 $ (2,758) $ 9,042 15 Developed technology ​ ​ 8,300 (2,425) 5,875 12 Licenses ​ ​ 63 (26) 37 15 Trade names and trademarks ​ ​ 6,300 (1,929) 4,371 12 Capitalized software ​ ​ 1,687 (89) 1,598 5 Non-compete agreements ​ ​ 300 (263) 37 4 Total intangible assets ​ $ 28,450 $ (7,490) $ 20,960 ​ Intangible assets as of December 31, 2021 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ Useful Life ​ Cost Amortization Net (in years) Customer relationships ​ $ 11,800 $ (2,561) $ 9,239 15 Developed technology ​ ​ 8,300 (2,252) 6,048 12 Licenses ​ ​ 63 (25) 38 15 Trade names and trademarks ​ ​ 6,300 (1,722) 4,578 12 Capitalized software ​ ​ 1,259 (68) 1,191 5 Non-compete agreements ​ ​ 300 (244) 56 4 Total intangible assets ​ $ 28,022 $ (6,872) $ 21,150
Schedule of amortization expense related to identifiable intangible assets in future periods	​ ​ ​ ​ ​ 2022 remaining $ 1,924 2023 ​ 2,511 2024 ​ 2,630 2025 ​ 2,630 2026 ​ 2,601 Thereafter ​ 8,664 Total ​ $ 20,960

Accrued expense and other curre

Accrued expense and other current liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued expenses and other current liabilities
Schedule of accrued expenses and other liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2022 2021 Payroll and compensation ​ $ 3,528 ​ $ 6,502 Current portion of contingent consideration ​ 2,502 ​ 1,207 Inventory purchases ​ 1,868 ​ 1,877 Other accrued expenses ​ 4,240 ​ 3,905 Total accrued expenses and other current liabilities ​ $ 12,138 ​ $ 13,491

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure
Schedule of Components of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2022 2021 Midcap Trust Term Loan $ 32,500 $ 32,500 Unamortized debt discount ​ (389) ​ (413) Accretion of final fee ​ 465 ​ 384 Long-term debt, net ​ $ 32,576 ​ $ 32,471
Schedule of Debt maturities	​ ​ ​ ​ ​ ​ ​ Midcap Trust Year Ended: ​ Term Loan December 31, 2022 ​ $ — December 31, 2023 ​ ​ — December 31, 2024 ​ ​ 2,708 December 31, 2025 ​ ​ 16,250 December 31, 2026 ​ ​ 13,542 Total minimum principal payments ​ $ 32,500

Stock compensation plans (Table

Stock compensation plans (Tables)	3 Months Ended
	Mar. 31, 2022
Stock compensation plans
Schedule of weighted-average assumptions used to estimate the fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Three months ended ​ ​ ​ March 31, ​ March 31, ​ ​ ​ 2022 2021 ​ ​ ​ ​ ​ ​ Weighted-average risk-free interest rate ​ 2.0 % 1.0 % Expected dividend yield ​ 0 % 0 % Expected volatility ​ 49.9 % 51.0 % Expected term ​ 6.0 years 6.1 years
Schedule of Stock-based compensation expense allocated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 Cost of goods sold ​ $ 47 ​ $ 16 Selling, general and administrative ​ 1,225 ​ 183 Research and development ​ 273 ​ 55 Total stock-based compensation ​ $ 1,545 ​ $ 254

Net loss per share attributab_2

Net loss per share attributable to common stockholders (Tables)	3 Months Ended
	Mar. 31, 2022
Net loss per share attributable to common stockholders
Schedule of Computation of basic and diluted earnings per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (16,399) ​ $ (8,082) Dividends accrued on redeemable convertible preferred stock ​ — ​ (1,190) Accretion of redeemable convertible preferred stock ​ — ​ (296) Adjusted net loss attributable to common stockholders ​ $ (16,399) ​ $ (9,568) Weighted average common shares used in net loss per share attributable to common stockholders, basic and diluted ​ 37,464,496 ​ 2,706,133 Basic and diluted net loss per common share outstanding ​ $ (0.44) ​ $ (3.54)
Schedule of Antidilutive shares excluded from computation	​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 Series A Convertible Preferred Stock (as converted to common stock) ​ — ​ 2,151,641 Series B Redeemable Convertible Preferred Stock (as converted to common stock) — 5,886,405 Series C Redeemable Convertible Preferred Stock (as converted to common stock) — 11,473,110 Series D Redeemable Convertible Preferred Stock (as converted to common stock) — 7,034,423 Outstanding stock options 6,296,781 4,947,296 Unvested restricted stock units ​ 137,500 ​ — Performance-based stock options — 21,459 Warrant to purchase Series D convertible preferred stock (as converted to common stock) — 158,274 Warrant to purchase common stock ​ 158,274 ​ — Total 6,592,555 31,672,608

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segments
Schedule of revenues by geographical market	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ North America ​ $ 9,324 ​ $ 5,209 APAC ​ ​ 3,509 ​ 3,690 EMEA ​ ​ 4,061 ​ 3,313 Total Revenue ​ $ 16,894 ​ $ 12,212 ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ North America 55 % 43 % APAC 21 % 30 % EMEA 24 % 27 % Total Revenue 100 % 100 %

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases
Summary of effects of adoption of ASC 842	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ASC 842 Adjustment ​ January 1, 2022 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease right of use assets, net ​ $ — ​ $ 10,409 ​ $ 10,409 Financing lease right of use assets, net ​ ​ — ​ ​ 673 ​ ​ 673 Property and equipment, net ​ ​ 673 ​ ​ (673) ​ ​ — Total assets ​ $ 190,907 ​ $ 10,409 ​ $ 201,316 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and stockholders' equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred rent ​ $ 300 ​ $ (300) ​ $ — Current portion of capital lease liabilities ​ ​ 272 ​ ​ (272) ​ ​ — Current portion of operating lease liabilities ​ ​ — ​ ​ 2,741 ​ ​ 2,741 Current portion of financing lease liabilities ​ ​ — ​ ​ 272 ​ ​ 272 Total current liabilities ​ ​ 27,682 ​ ​ 2,441 ​ ​ 30,123 Capital lease liabilities, net of current portion ​ ​ 197 ​ ​ (197) ​ ​ — Operating lease liabilities, net of current portion ​ ​ — ​ ​ 7,968 ​ ​ 7,968 Financing lease liabilities, net of current portion ​ ​ — ​ ​ 197 ​ ​ 197 Total liabilities ​ ​ 69,556 ​ ​ 10,409 ​ ​ 79,965 Stockholders' equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity ​ ​ 121,351 ​ ​ — ​ ​ 121,351 Total liabilities and stockholders' equity ​ $ 190,907 ​ $ 10,409 ​ $ 201,316
Summary of lease costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ March 31, Lease Costs ​ Classification ​ 2022 Finance lease cost: ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ Depreciation and amortization ​ $ 139 Interest on lease liabilities ​ Interest expense, net ​ ​ 6 Operating lease cost ​ Selling, general and administrative ​ ​ 710 Total lease cost ​ ​ ​ $ 855
Schedule of future minimum commitments under ASC 842 of operating leases	​ ​ ​ ​ ​ Maturity of operating lease liabilities ​ As of March 31, 2022 Remainder 2022 ​ $ 2,212 2023 ​ ​ 2,739 2024 ​ ​ 2,286 2025 ​ ​ 2,255 2026 ​ ​ 2,107 2027 and thereafter ​ ​ 682 Total lease payments ​ $ 12,281 Less: discount to lease payments ​ ​ (1,970) Total operating lease liabilities ​ $ 10,311
Schedule of future minimum commitments under ASC 842 of financing leases	​ ​ ​ ​ ​ Maturity of financing lease liabilities ​ As of March 31, 2022 Remainder 2022 ​ $ 328 2023 ​ ​ 356 2024 ​ ​ 228 2025 ​ ​ 23 2026 ​ ​ — 2027 and thereafter ​ ​ — Total lease payments ​ $ 935 Less: discount to lease payments ​ ​ (103) Total financing lease liabilities ​ $ 832
Schedule of supplemental lease information	​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Lease Term, Discount Rates, and Other ​ March 31, 2022 Weighted average remaining lease term ​ ​ ​ ​ Operating leases ​ ​ 4.6 years Financing leases ​ ​ 2.4 years Weighted average incremental borrowing rate ​ ​ ​ ​ Operating leases ​ ​ 7.85 % Financing leases ​ ​ 4.97 % Cash payments of amounts included in lease liabilities ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 637 ​ Operating cash flows from finance leases ​ ​ 6 ​ Financing cash flows from finance leases ​ ​ 126 ​

The company and basis of pres_2

The company and basis of presentation - Initial public offering (Details) $ / shares in Units, $ in Millions	Apr. 20, 2021shares	Apr. 08, 2021	Apr. 30, 2021USD ($)$ / sharesshares	Mar. 31, 2022region
The company and basis of presentation
Number of geographic regions for sales | region				3
Reverse stock split ratio		2.33
Class A Common Stock
The company and basis of presentation
Conversion of stock	2,835,099
Conversion of Preferred Stock to Common
The company and basis of presentation
Number of shares of common stock issued on conversion of preferred stock	26,545,579
IPO
The company and basis of presentation
Stock issued during period			7,567,000
Proceeds from public offering, net of discounts, commissions and other offering costs | $			$ 138.6
Price per share | $ / shares			$ 20
Over-Allotment Option
The company and basis of presentation
Stock issued during period			987,000

The company and basis of pres_3

The company and basis of presentation - Liquidity and going concern (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
The company and basis of presentation
Cash and cash equivalents	$ 93,938		$ 113,079
Accumulated deficit	(112,506)		$ (96,107)
Cash used from operations	$ (17,932)	$ (4,404)

Summary of significant accoun_4

Summary of significant accounting policies - Service and Other Revenue and Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Standard service-based warranty terms	1 year
Extended service-based warranty terms	1 year
Revenue	$ 16,894	$ 12,212
Contract assets	$ 0		$ 0
Practical expedient elected	true
Product
Disaggregation of Revenue [Line Items]
Revenue	$ 13,343	9,963
Instruments
Disaggregation of Revenue [Line Items]
Revenue	8,521	6,837
Consumables
Disaggregation of Revenue [Line Items]
Revenue	4,628	2,544
Standalone software products
Disaggregation of Revenue [Line Items]
Revenue	194	582
Service and other
Disaggregation of Revenue [Line Items]
Revenue	$ 3,551	$ 2,249

Summary of significant accoun_5

Summary of significant accounting policies - Stock-based compensation (Details)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Requisite service period	4 years
Expected dividend yield	0.00%

Significant risks and uncerta_2

Significant risks and uncertainties including business and credit concentrations (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)customer	Mar. 31, 2021customer	Dec. 31, 2021USD ($)customer
Concentration Risk [Line Items]
Allowance for doubtful accounts | $	$ 44		$ 45
Revenue from Contract with Customer Benchmark | Customers
Concentration Risk [Line Items]
Number of customers with concentration risk	0	0
Accounts Receivable. | Customers
Concentration Risk [Line Items]
Number of customers with concentration risk	0		0

Fair value of financial instr_3

Fair value of financial instruments (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	$ 6,755	$ 7,850
Amount of liability transferred into level 3	0	0
Amount of liability transferred out of level 3	0	0
Amount of liability transferred level 1 to level 2	0	0
Amount of liability transferred level 2 to level 1	0	0
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	6,755	7,850
Contingent consideration - Long term portion
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	6,755	7,850
Contingent consideration - Long term portion | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	0	0
Contingent consideration - Long term portion | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	0	0
Contingent consideration - Long term portion | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities at fair value	$ 6,755	$ 7,850

Fair value of financial instr_4

Fair value of financial instruments - Innovatus Term Loan (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2019USD ($)$ / sharesshares
Innovatus
Fair value of financial instruments
Purchase price (per share) | $ / shares	$ 1.53
Series D Warrant
Fair value of financial instruments
Shares called by warrant | shares	368,779
Innovatus Term Loan
Fair value of financial instruments
Principal amount | $	$ 25,000

Fair value of financial instr_5

Fair value of financial instruments - Recurring Basis Unobservable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Valuation Technique and Input, Description [Abstract]
Contingent consideration liability (Note 4), net of current portion	$ 6,755		$ 7,850
Contingent consideration - Long term portion | Series D Redeemable Convertible Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	7,850	$ 6,984
Reclassification of FY payment to accrued expenses	(1,295)	(1,150)
Change in fair value	200	426
Balance, end of period	6,755	6,260
Contingent consideration - Long term portion | Series D Redeemable Convertible Preferred Stock | Discounted Cash Flow Analysis under the Income Approach
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, end of period	$ 6,755
Warrant liability | Series D Redeemable Convertible Preferred Stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		490
Change in fair value		1,870
Balance, end of period		$ 2,360

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment	$ 11,844		$ 11,555
Less: Accumulated depreciation	(4,256)		(4,068)
Property and equipment, net	7,588		$ 7,487
Operating Expenses
Property, Plant and Equipment [Line Items]
Depreciation expense	434	$ 384
Cost of goods sold
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 76	$ 0
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	7 years		7 years
Property and equipment	$ 360		$ 488
Computers, laptop and peripherals
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	5 years		5 years
Property and equipment	$ 3,863		$ 3,590
Laboratory equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	5 years		5 years
Property and equipment	$ 5,472		$ 5,906
Leasehold improvements
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in Years)	7 years		7 years
Property and equipment	$ 2,149		$ 1,571

Property and equipment, net - D

Property and equipment, net - Demo inventory (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property and equipment, net
Estimated life (years)	3 years		3 years
Demo inventory - gross	$ 3,733		$ 3,733
Less: Accumulated depreciation	(1,508)		(1,185)
Demo inventory, net	2,225		$ 2,548
Depreciation expense relating to demo equipment	$ 352	$ 103

Intangible assets and goodwil_2

Intangible assets and goodwill (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 30, 2015	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		$ 28,450		$ 28,022
Accumulated amortization		(7,490)		(6,872)
Total		20,960		21,150
Operating Expenses
Finite-Lived Intangible Assets [Line Items]
Amortization expense		618	$ 521
Cost of goods sold
Finite-Lived Intangible Assets [Line Items]
Amortization expense		0	$ 33
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		11,800		11,800
Accumulated amortization		(2,758)		(2,561)
Total		$ 9,042		$ 9,239
Useful life (in years)		15 years		15 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		$ 8,300		$ 8,300
Accumulated amortization		(2,425)		(2,252)
Total		$ 5,875		$ 6,048
Useful life (in years)		12 years		12 years
Licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		$ 63		$ 63
Accumulated amortization		(26)		(25)
Total		$ 37		$ 38
Useful life (in years)		15 years		15 years
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		$ 6,300		$ 6,300
Accumulated amortization		(1,929)		(1,722)
Total		$ 4,371		$ 4,578
Useful life (in years)		12 years		12 years
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		$ 1,687		$ 1,259
Accumulated amortization		(89)		(68)
Total		$ 1,598		$ 1,191
Useful life (in years)		5 years		5 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets, cost		$ 300		$ 300
Accumulated amortization		(263)		(244)
Total		$ 37		$ 56
Useful life (in years)		4 years		4 years
Stanford | Patents
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	15 years
Capitalized non-refundable royalties	$ 63

Intangible assets and goodwil_3

Intangible assets and goodwill - Amortization expense related to identifiable intangible assets in future periods (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Amortization expense related to identifiable intangible assets in future periods
2022 remaining	$ 1,924
2023	2,511
2024	2,630
2025	2,630
2026	2,601
Thereafter	8,664
Total	$ 20,960	$ 21,150

Intangible assets and goodwil_4

Intangible assets and goodwill - Goodwill balance (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Intangible assets and goodwill
Goodwill balance	$ 18,262	$ 18,262

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued expenses and other current liabilities
Accrued payroll and compensation	$ 3,528	$ 6,502
Current portion of contingent consideration	2,502	1,207
Inventory purchases	1,868	1,877
Other accrued expenses	4,240	3,905
Total accrued expenses and other current liabilities	$ 12,138	$ 13,491

Debt - Term Loan Agreements (De

Debt - Term Loan Agreements (Details) - Midcap Trust Term Loan - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Oct. 31, 2020	Mar. 31, 2022
Debt Instrument [Line Items]
Credit facility amount	$ 37,500
Proceeds from debt financing	$ 32,500
Term of interest-only payments	36 months
Period of straight-line amortization	24 months
Effective interest rate at end of period		7.85%
Final payment fee to be paid upon termination (as a percent)	5.00%
Prepayment fee percent , year one	3.00%
Prepayment fee percent, year two	2.00%
Prepayment fee percent, year three	1.00%
Final payment fee to be paid upon termination	$ 1,625
Amortization of final payment fee		$ 81
LIBOR
Debt Instrument [Line Items]
Interest rate variable rate spread	6.35%
LIBOR floor	1.50%

Debt - Debt components (Details

Debt - Debt components (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt discount	$ (389)	$ (413)
Accretion of final fee	465	384
Total debt, net	32,576	32,471
Midcap Trust Term Loan
Debt Instrument [Line Items]
Total minimum principal payments	$ 32,500	$ 32,500

Debt - Debt maturities (Details

Debt - Debt maturities (Details) - Midcap Trust Term Loan - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
December 31, 2024	$ 2,708
December 31, 2025	16,250
December 31, 2026	13,542
Total minimum principal payments	$ 32,500	$ 32,500

Stockholder's equity (deficit)

Stockholder's equity (deficit) (Details)	3 Months Ended
	Mar. 31, 2022Vote$ / sharesshares	Dec. 31, 2021$ / sharesshares
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value | $ / shares	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value | $ / shares	$ 0.00001	$ 0.00001
Common stock, shares issued	37,502,358	37,424,101
Common stock, shares outstanding	37,502,358	37,424,101
Common stock, shares reserved for issuance upon the exercise of stock options	8,502,166	6,709,218
Class A Common Stock
Class of Stock [Line Items]
Common stock, voting rights (per share) | Vote	1

Stock compensation plans - 2021

Stock compensation plans - 2021 Equity Incentive Plan (Details) - 2021 Plan	Apr. 08, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock authorized for issuance	1,727,953
Expected term	10 years
Annual increase in shares available for issuance as a percentage of outstanding shares	5.00%

Stock compensation plans - 2015

Stock compensation plans - 2015 Equity Incentive Plan (Details) - 2015 Plan	3 Months Ended
	Mar. 31, 2022shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Vesting period	4 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock authorized for issuance	0

Stock compensation plans - Stoc

Stock compensation plans - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Weighted-average assumptions:
Expected dividend yield	0.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted to employees	$ 4,481	$ 9,322
Options granted	811,000	1,343,700
Options granted, weighted average fair value per share	$ 5.54	$ 6.96
Options granted, weighted average exercise price per share	$ 11.20	$ 14.25
Weighted-average assumptions:
Weighted-average risk-free interest rate	2.00%	1.00%
Expected dividend yield	0.00%	0.00%
Expected volatility	49.90%	51.00%
Expected term	6 years	6 years 1 month 6 days

Stock compensation plans - Rest

Stock compensation plans - Restricted Stock Units (Details) - RSUs $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value | $	$ 1,634
Number of shares granted | shares	137,500
Weighted average fair value per share granted | $ / shares	$ 11.88

Stock compensation plans - St_2

Stock compensation plans - Stock-based compensation expense and unrecognized compensation cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,545	$ 254
Unrecognized compensation	$ 18,700	$ 9,051
Period for recognition	3 years 3 months 18 days	3 years 10 months 24 days
Stock Options | Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 47	$ 16
Stock Options | Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1,225	183
Stock Options | Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	273	$ 55
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation	$ 1,625
Period for recognition	4 years

Employee stock purchase plan (D

Employee stock purchase plan (Details) - shares	Apr. 08, 2021	Mar. 31, 2022	Dec. 31, 2021
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Common stock, shares issued		37,502,358	37,424,101
ESPP
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Maximum payroll deduction percentage	15.00%
Number of shares of common stock authorized for issuance	172,795
Term of automatic increases in shares available for issuance	10 years
Annual increase in shares available for issuance as a percentage of outstanding shares	0.50%
Common stock, shares issued		0

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income taxes
(Provision) benefit for income taxes	$ (22)	$ 6
Statutory rate	21.00%

Commitments and contingencies -

Commitments and contingencies - License Agreements (Details) - USD ($)	1 Months Ended
	Nov. 30, 2015	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2019	Sep. 30, 2018
License Agreement | Stanford
Other Commitments [Line Items]
Royalty rate on net sales of the product	2.25%
License Agreement | Stanford | Class B Common Stock
Other Commitments [Line Items]
Shares issued pursuant to the agreement	91,559
License Agreement | Stanford | Minimum
Other Commitments [Line Items]
Annual license maintenance fee commitment	$ 20,000
License Agreement | Stanford | Maximum
Other Commitments [Line Items]
Annual license maintenance fee commitment	$ 50,000
License Agreement | PKI
Other Commitments [Line Items]
Accrued royalties		$ 1,295,000	$ 1,207,000
License Agreement | PKI | Minimum
Other Commitments [Line Items]
Royalty rate on net sales of the product					1.00%
License Agreement | PKI | Maximum
Other Commitments [Line Items]
Royalty rate on net sales of the product					7.00%
Research Arrangement
Other Commitments [Line Items]
Amount required to pay 2022				$ 415,000
Amount required to pay 2023				$ 120,000

Net loss per share attributab_3

Net loss per share attributable to common stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net loss per share attributable to common stockholders
Net loss	$ (16,399)	$ (8,082)
Dividends accrued on redeemable convertible preferred stock		(1,190)
Accretion of redeemable convertible preferred stock		(296)
Adjusted net loss attributable to common stockholders	$ (16,399)	$ (9,568)
Weighted-average shares outstanding, basic	37,464,496	2,706,133
Weighted-average shares outstanding, diluted	37,464,496	2,706,133
Net loss per share attributable to common stockholders, basic	$ (0.44)	$ (3.54)
Net loss per share attributable to common stockholders, diluted	$ (0.44)	$ (3.54)

Net loss per share attributab_4

Net loss per share attributable to common stockholders - Antidilutive shares (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share	6,592,555	31,672,608
Series A Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share		2,151,641
Series B Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share		5,886,405
Series C Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share		11,473,110
Series D Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share		7,034,423
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share	6,296,781	4,947,296
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share	137,500
Performance-based stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share		21,459
Series D Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share		158,274
Warrant to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amounts excluded from computation of diluted net loss per share	158,274

Segments (Details)

Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)itemsegment	Mar. 31, 2021USD ($)
Disaggregation of Revenue [Line Items]
Number of business activities | item	1
Number of reportable segments | segment	1
Total Revenue	$ 16,894	$ 12,212
Operations
Disaggregation of Revenue [Line Items]
Number of segment managers	0
North America
Disaggregation of Revenue [Line Items]
Total Revenue	$ 9,324	5,209
APAC
Disaggregation of Revenue [Line Items]
Total Revenue	3,509	3,690
EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	$ 4,061	$ 3,313

Segments - Revenue (Details)

Segments - Revenue (Details) - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk - country	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Concentration Risk [Line Items]
Number of countries with concentration risk	0
Concentration Risk, Percentage	100.00%	100.00%
North America
Concentration Risk [Line Items]
Concentration Risk, Percentage	55.00%	43.00%
APAC
Concentration Risk [Line Items]
Concentration Risk, Percentage	21.00%	30.00%
EMEA
Concentration Risk [Line Items]
Concentration Risk, Percentage	24.00%	27.00%
One country
Concentration Risk [Line Items]
Number of countries with concentration risk		1
Concentration Risk, Percentage		18.00%

Related party transactions (Det

Related party transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Inventories, net	$ 11,373,000		$ 9,014,000
Argonaut Manufacturing services
Related Party Transaction [Line Items]
Costs of goods sold relating to sales to related party	971,000	$ 491,000
Inventories, net	5,390,000		4,263,000
Accounts payable due to related party	$ 1,967,000		$ 1,700,000
Argonaut Manufacturing services | Minimum
Related Party Transaction [Line Items]
Percentage of total outstanding shares owned by related party	5.00%

Leases - Adoption of ASU 2016-0

Leases - Adoption of ASU 2016-02 (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Operating lease right of use assets, net	$ 9,937
Financing lease right of use assets, net	1,047
Property and equipment, net	7,588		$ 7,487
Total assets	187,128		190,907
Liabilities and stockholders' equity
Current portion of capital lease liabilities			272
Current portion of operating lease liabilities	2,805
Current portion of financing lease liabilities	383
Total current liabilities	31,736		27,682
Capital lease liabilities, net of current portion			197
Operating lease liabilities, net of current portion	7,506
Financing lease liabilities, net of current portion	448
Total liabilities	80,576		69,556
Stockholders' equity
Total stockholders' equity	106,552		121,351	$ (60,000)	$ (51,026)
Total liabilities and stockholders' equity	$ 187,128		190,907
ASU 2016-02
Assets
Operating lease right of use assets, net		$ 10,409
Financing lease right of use assets, net		673
Total assets		201,316
Liabilities and stockholders' equity
Current portion of operating lease liabilities		2,741
Current portion of financing lease liabilities		272
Total current liabilities		30,123
Operating lease liabilities, net of current portion		7,968
Financing lease liabilities, net of current portion		197
Total liabilities		79,965
Stockholders' equity
Total stockholders' equity		121,351
Total liabilities and stockholders' equity		$ 201,316
ASU 2016-02 | Previously Reported
Assets
Property and equipment, net			673
Total assets			190,907
Liabilities and stockholders' equity
Deferred rent			300
Current portion of capital lease liabilities			272
Total current liabilities			27,682
Capital lease liabilities, net of current portion			197
Total liabilities			69,556
Stockholders' equity
Total stockholders' equity			121,351
Total liabilities and stockholders' equity			190,907
ASU 2016-02 | ASC 842 Adjustment
Assets
Operating lease right of use assets, net			10,409
Financing lease right of use assets, net			673
Property and equipment, net			(673)
Total assets			10,409
Liabilities and stockholders' equity
Deferred rent			(300)
Current portion of capital lease liabilities			(272)
Current portion of operating lease liabilities			2,741
Current portion of financing lease liabilities			272
Total current liabilities			2,441
Capital lease liabilities, net of current portion			(197)
Operating lease liabilities, net of current portion			7,968
Financing lease liabilities, net of current portion			197
Total liabilities			10,409
Stockholders' equity
Total liabilities and stockholders' equity			$ 10,409

Leases - Office and warehouse l

Leases - Office and warehouse leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)lease	Aug. 31, 2021USD ($)	Jul. 31, 2021USD ($)	Jun. 18, 2021USD ($)	Jul. 31, 2019USD ($)
Leases
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true
Office and laboratory space | Menlo Park, CA
Leases
Term of contract			70 months		7 years
Security Deposit			$ 92		$ 181
Office space | Marlborough, MA
Leases
Term of contract		30 months			7 years
Security Deposit		$ 43		$ 300	$ 450
Warehouse space | Marlborough, MA
Leases
Term of contract	96 months
Aggregate lease payments	$ 2,916
Warehouse space | Marlborough, MA | Minimum
Leases
Annual rent payment	193
Warehouse space | Marlborough, MA | Maximum
Leases
Annual rent payment	$ 452
Auto leases
Leases
Term of contract	48 months
Staining equipment
Leases
Number of leases entered into | lease	2

Leases - Lease cost classificat

Leases - Lease cost classification (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Finance lease cost:
Amortization of right-of-use assets	$ 139
Interest on lease liabilities	6
Operating lease cost	710
Total lease cost	$ 855

Leases - Future minimum commitm

Leases - Future minimum commitments under operating leases (Details) $ in Thousands	Mar. 31, 2022USD ($)
Leases
Remainder 2022	$ 2,212
2023	2,739
2024	2,286
2025	2,255
2026	2,107
2027 and thereafter	682
Total lease payments	12,281
Less: discount to lease payments	(1,970)
Total operating lease liabilities	$ 10,311

Leases - Future minimum commi_2

Leases - Future minimum commitments under financing leases (Details) $ in Thousands	Mar. 31, 2022USD ($)
Leases
Remainder 2022	$ 328
2023	356
2024	228
2025	23
Total lease payments	935
Less: discount to lease payments	(103)
Total financing lease liabilities	$ 832

Leases - Weighted-average remai

Leases - Weighted-average remaining lease term, incremental borrowing rate, and supplemental cash flow information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Weighted average remaining lease term
Operating leases	4 years 7 months 6 days
Financing leases	2 years 4 months 24 days
Weighted average incremental borrowing rate
Operating leases	7.85%
Financing leases	4.97%
Cash payments of amounts included in lease liabilities
Operating cash flows from operating leases	$ 637
Operating cash flows from finance leases	6
Financing cash flows from finance leases	$ 126