10x Genomics (TXG) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-39035
Entity Registrant Name	10x Genomics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-5614458
Entity Address, Address Line One	6230 Stoneridge Mall Road
Entity Address, City or Town	Pleasanton
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94588
City Area Code	925
Local Phone Number	401-7300
Title of 12(b) Security	Class A common stock, par value $0.00001 per share
Trading Symbol	TXG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001770787
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		103,361,382
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		14,056,833

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 325,879	$ 219,746
Marketable securities	65,506	210,238
Restricted cash	1,500	2,633
Accounts receivable, net	87,685	104,211
Inventory	83,687	81,629
Prepaid expenses and other current assets	18,683	16,578
Total current assets	582,940	635,035
Property and equipment, net	284,913	289,328
Restricted cash	3,474	4,974
Operating lease right-of-use assets	71,049	69,882
Goodwill	4,511	4,511
Intangible assets, net	22,290	22,858
Other noncurrent assets	20,461	2,392
Total assets	989,638	1,028,980
Current liabilities:
Accounts payable	23,124	21,599
Accrued compensation and related benefits	22,372	32,675
Accrued expenses and other current liabilities	34,088	59,779
Deferred revenue	9,217	7,867
Operating lease liabilities	9,286	9,037
Total current liabilities	98,087	130,957
Operating lease liabilities, noncurrent	90,331	86,139
Other noncurrent liabilities	7,919	6,141
Total liabilities	196,337	223,237
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock	0	0
Common stock	2	2
Additional paid-in capital	1,936,750	1,839,397
Accumulated deficit	(1,142,482)	(1,029,321)
Accumulated other comprehensive loss	(969)	(4,335)
Total stockholders’ equity	793,301	805,743
Total liabilities and stockholders’ equity	$ 989,638	$ 1,028,980

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 146,819	$ 114,609	$ 281,104	$ 229,105
Cost of revenue	47,207	27,704	83,102	53,182
Gross profit	99,612	86,905	198,002	175,923
Operating expenses:
Research and development	71,460	70,685	138,558	134,763
Selling, general and administrative	91,510	79,337	174,790	146,012
Total operating expenses	162,970	150,022	313,348	280,775
Loss from operations	(63,358)	(63,117)	(115,346)	(104,852)
Other income (expense):
Interest income	4,100	1,238	7,969	1,807
Interest expense	(5)	(109)	(24)	(237)
Other expense, net	(1,504)	(1,843)	(3,020)	(2,243)
Total other income (expense)	2,591	(714)	4,925	(673)
Loss before provision for income taxes	(60,767)	(63,831)	(110,421)	(105,525)
Provision for income taxes	1,647	627	2,740	1,346
Net loss	$ (62,414)	$ (64,458)	$ (113,161)	$ (106,871)
Net loss per share, basic (in dollars per share)	$ (0.53)	$ (0.57)	$ (0.97)	$ (0.94)
Net loss per share, diluted (in dollars per share)	$ (0.53)	$ (0.57)	$ (0.97)	$ (0.94)
Weighted-average shares of common stock used in computing net loss per share, basic (in shares)	116,707,672	113,574,757	116,166,776	113,272,158
Weighted-average shares of common stock used in computing net loss per share, diluted (in shares)	116,707,672	113,574,757	116,166,776	113,272,158

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (62,414)	$ (64,458)	$ (113,161)	$ (106,871)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on available-for-sale marketable securities	379	(1,326)	1,496	(3,729)
Realized loss on available-for-sale marketable securities reclassified into net loss	0	0	1,715	0
Foreign currency translation adjustment	131	(196)	155	(258)
Other comprehensive income (loss), net of tax	510	(1,522)	3,366	(3,987)
Comprehensive loss	$ (61,904)	$ (65,980)	$ (109,795)	$ (110,858)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Common Class A	Common Class A Common Stock	Common Class A Additional Paid-in Capital
Beginning balance (in shares) at Dec. 31, 2021		112,514,977
Beginning balance at Dec. 31, 2021	$ 817,568	$ 2	$ 1,680,865	$ (863,321)	$ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock related to equity awards (in shares)							761,373
Issuance of Class A common stock related to equity awards						$ 7,826		$ 7,826
Vesting of shares subject to repurchase, including early exercised options	32		32
Stock-based compensation	26,137		26,137
Net loss	(42,413)			(42,413)
Other comprehensive income (loss)	(2,465)				(2,465)
Ending balance (in shares) at Mar. 31, 2022		113,276,350
Ending balance at Mar. 31, 2022	806,685	$ 2	1,714,860	(905,734)	(2,443)
Beginning balance (in shares) at Dec. 31, 2021		112,514,977
Beginning balance at Dec. 31, 2021	817,568	$ 2	1,680,865	(863,321)	22
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(106,871)
Other comprehensive income (loss)	(3,987)
Ending balance (in shares) at Jun. 30, 2022		113,886,797
Ending balance at Jun. 30, 2022	783,516	$ 2	1,757,671	(970,192)	(3,965)
Beginning balance (in shares) at Mar. 31, 2022		113,276,350
Beginning balance at Mar. 31, 2022	806,685	$ 2	1,714,860	(905,734)	(2,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock related to equity awards (in shares)							610,447
Issuance of Class A common stock related to equity awards						6,360		6,360
Vesting of shares subject to repurchase, including early exercised options	32		32
Stock-based compensation	36,419		36,419
Net loss	(64,458)			(64,458)
Other comprehensive income (loss)	(1,522)				(1,522)
Ending balance (in shares) at Jun. 30, 2022		113,886,797
Ending balance at Jun. 30, 2022	783,516	$ 2	1,757,671	(970,192)	(3,965)
Beginning balance (in shares) at Dec. 31, 2022		115,195,009
Beginning balance at Dec. 31, 2022	805,743	$ 2	1,839,397	(1,029,321)	(4,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock related to equity awards (in shares)							978,333
Issuance of Class A common stock related to equity awards						2,400		2,400
Stock-based compensation	42,133		42,133
Net loss	(50,747)			(50,747)
Other comprehensive income (loss)	2,856				2,856
Ending balance (in shares) at Mar. 31, 2023		116,173,342
Ending balance at Mar. 31, 2023	802,385	$ 2	1,883,930	(1,080,068)	(1,479)
Beginning balance (in shares) at Dec. 31, 2022		115,195,009
Beginning balance at Dec. 31, 2022	805,743	$ 2	1,839,397	(1,029,321)	(4,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(113,161)
Other comprehensive income (loss)	3,366
Ending balance (in shares) at Jun. 30, 2023		117,323,435
Ending balance at Jun. 30, 2023	793,301	$ 2	1,936,750	(1,142,482)	(969)
Beginning balance (in shares) at Mar. 31, 2023		116,173,342
Beginning balance at Mar. 31, 2023	802,385	$ 2	1,883,930	(1,080,068)	(1,479)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock related to equity awards (in shares)							1,150,093
Issuance of Class A common stock related to equity awards						$ 7,096		$ 7,096
Stock-based compensation	45,724		45,724
Net loss	(62,414)			(62,414)
Other comprehensive income (loss)	510				510
Ending balance (in shares) at Jun. 30, 2023		117,323,435
Ending balance at Jun. 30, 2023	$ 793,301	$ 2	$ 1,936,750	$ (1,142,482)	$ (969)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities:
Net loss	$ (113,161)	$ (106,871)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	87,797	62,360
Depreciation and amortization	16,423	12,691
Amortization of right-of-use assets	4,070	3,728
Lease impairment charges	2,785	0
Realized loss on marketable securities	1,715	0
Other	613	460
Changes in operating assets and liabilities:
Accounts receivable	16,526	9,025
Inventory	(2,311)	(11,101)
Prepaid expenses and other current assets	(2,123)	(5,348)
Other noncurrent assets	(18,073)	115
Accounts payable	1,314	10,262
Accrued compensation and other related benefits	(10,313)	(8,007)
Deferred revenue	2,885	1,667
Accrued expenses and other current liabilities	494	(4,922)
Operating lease liability	(4,540)	(2,181)
Other noncurrent liabilities	248	357
Net cash used in operating activities	(15,651)	(37,765)
Investing activities:
Purchases of property and equipment	(29,915)	(55,355)
Purchase of intangible assets	(723)	0
Purchase of marketable securities	0	(271,547)
Proceeds from sales of marketable securities	94,947	32,693
Proceeds from maturities of marketable securities	51,185	9,124
Net cash provided by (used in) investing activities	115,494	(285,085)
Financing activities:
Payments on financing arrangement	(5,814)	(5,409)
Issuance of common stock from exercise of stock options and employee stock purchase plan purchases	9,496	14,186
Net cash provided by financing activities	3,682	8,777
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(25)	(210)
Net increase (decrease) in cash, cash equivalents, and restricted cash	103,500	(314,283)
Cash, cash equivalents, and restricted cash at beginning of period	227,353	596,073
Cash, cash equivalents, and restricted cash at end of period	330,853	281,790
Supplemental disclosures of cash flow information:
Cash paid for interest	436	841
Cash paid for taxes	3,852	3,319
Noncash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	9,317	26,679
Right-of-use assets obtained in exchange for new operating lease liabilities	6,893	16,562
Contingent consideration payable from business acquisition	$ 0	$ 1,500

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Organization and Description of Business 10x Genomics, Inc. (the “Company”) is a life sciences technology company focused on building innovative products and solutions to interrogate, understand and master biological systems at resolution and scale that matches the complexity of biology. The Company’s integrated solutions include the Company’s Chromium X Series and Chromium Connect instruments, which the Company refers to as “Chromium instruments,” the Company's Visium CytAssist and Xenium Analyzer instruments, which the Company refers to as “Spatial instruments,” and the Company’s proprietary microfluidic chips, slides, reagents and other consumables for the Company's Chromium, Visium and Xenium solutions, which the Company refers to as “consumables.” The Company bundles its software with these products to guide customers through the workflow, from sample preparation through analysis and visualization. The Company was incorporated in the state of Delaware in July 2012 and began commercial and manufacturing operations and selling its instruments and consumables in 2015. The Company is headquartered in Pleasanton, California and has wholly-owned subsidiaries in Asia, Europe and North America. Basis of Presentation The accompanying condensed consolidated financial statements, which include the Company’s accounts and the accounts of its wholly-owned subsidiaries, are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The condensed consolidated balance sheets at December 31, 2022 have been derived from the audited consolidated financial statements of the Company at that date. Certain information and footnote disclosures typically included in the Company’s audited consolidated financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. All intercompany transactions and balances have been eliminated. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The accompanying unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2022 included in the Company's Annual Report on Form 10-K filed with the SEC on February 16, 2023 (our "Annual Report").

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies There were no material changes in the Company's significant accounting policies during the six months ended June 30, 2023. See Note 2 – Summary of Significant Accounting Policies to the consolidated financial statements included in the Company's Annual Report for information regarding the Company's significant accounting policies. Revenue Recognition The Company generates revenue from sales of products and services, and its products consist of instruments and consumables. Revenue from product sales is recognized when control of the product is transferred, which is generally upon shipment to the customer. Instrument service agreements, which relate to extended warranties, are typically entered into for one-year terms, following the expiration of the standard one-year warranty period. Revenue for extended warranties is recognized ratably over the term of the extended warranty period as a stand ready performance obligation. Revenue is recorded net of discounts, distributor commissions and sales taxes collected on behalf of governmental authorities. Customers are invoiced generally upon shipment, or upon order for services, and payment is typically due within 45 days. Cash received from customers in advance of product shipment or providing services is recorded as a contract liability. The Company’s contracts with its customers generally do not include rights of return or a significant financing component. The Company regularly enters into contracts that include various combinations of products and services which are generally distinct and accounted for as separate performance obligations. The transaction price is allocated to each performance obligation in proportion to its standalone selling price. The Company determines standalone selling price using average selling prices with consideration of current market conditions. If the product or service has no history of sales or if the sales volume is not sufficient, the Company relies upon prices set by management, adjusted for applicable discounts. Net Loss Per Share Net loss per share is computed using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights and sharing of losses, of the Class A common stock and Class B common stock are identical, other than voting rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, adjusted for outstanding shares that are subject to repurchase. For the calculation of diluted net loss per share, basic net loss per share is adjusted by the effect of dilutive securities including awards under the Company’s equity compensation plans. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. For periods in which the Company reports net losses, diluted net loss per share is the same as basic net loss per share because potentially dilutive shares of common stock are not assumed to have been issued if their effect is anti-dilutive.

Other Financial Statement Infor

Other Financial Statement Information	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Financial Statement Information	Other Financial Statement Information Available-for-sale Securities Available-for-sale securities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fair Value Measurement Cash equivalents: Money market funds $ 315,407 $ — $ — $ 315,407 $ 163,184 $ — $ — $ 163,184 Level 1 Marketable securities: Corporate debt securities 20,209 — (234) 19,975 153,794 4 (2,768) 151,030 Level 2 Government debt securities 42,611 — (623) 41,988 54,136 — (1,247) 52,889 Level 2 Asset-backed securities 3,591 — (48) 3,543 6,424 — (105) 6,319 Level 2 Total available-for-sale securities $ 381,818 $ — $ (905) $ 380,913 $ 377,538 $ 4 $ (4,120) $ 373,422 The contractual maturities of marketable securities as of June 30, 2023 were as follows (in thousands): Fair Value Due in one year or less $ 59,716 Due after one year to five years 5,790 Total marketable securities $ 65,506 The Company incurred no material gross realized gains or losses from available-for-sales debt securities during the three months ended June 30, 2023 and three and six months ended June 30, 2022. During the six months ended June 30, 2023, the Company incurred gross realized losses of $1.7 million and no gross realized gains from the sale of available-for-sales debt securities. Realized gains (losses) on the sale of marketable securities are recorded in “Other expense, net” in the condensed consolidated statements of operations. The available-for-sale debt securities are subject to a periodic impairment review. For investments in an unrealized loss position, the Company determines whether a credit loss exists by considering information about the collectability of the instrument, current market conditions and reasonable and supportable forecasts of economic conditions. The Company recognizes an allowance for credit losses, up to the amount of the unrealized loss when appropriate, and writes down the amortized cost basis of the investment if it is more likely than not that the Company will be required or will intend to sell the investment before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in “Other expense, net,” and unrealized losses not related to credit losses are recognized in “Accumulated other comprehensive loss.” There are no allowances for credit losses for the periods presented. As of June 30, 2023, the gross unrealized losses on available-for-sale securities are related to market interest rate changes and not attributable to credit. Inventory Inventory was comprised of the following (in thousands): June 30, December 31, Purchased materials $ 37,942 $ 34,497 Work in progress 24,098 24,650 Finished goods 21,647 22,482 Inventory $ 83,687 $ 81,629 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): June 30, December 31, Land $ 36,801 $ 36,780 Building 137,167 — Laboratory equipment and machinery 63,180 54,658 Computer equipment and software 15,862 12,565 Furniture and fixtures 10,847 9,642 Leasehold improvements 92,783 91,518 Construction in progress 13,801 152,995 Total property and equipment 370,441 358,158 Less: accumulated depreciation and amortization (85,528) (68,830) Property and equipment, net $ 284,913 $ 289,328 Accrued Compensation and Related Benefits Accrued compensation and related benefits were comprised of the following as of the dates indicated (in thousands): June 30, December 31, Accrued payroll and related costs $ 2,965 $ 2,052 Accrued bonus 10,770 17,081 Accrued commissions 5,286 5,143 Accrued acquisition-related compensation — 5,470 Other 3,351 2,929 Accrued compensation and related benefits $ 22,372 $ 32,675 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities were comprised of the following as of the dates indicated (in thousands): June 30, December 31, Accrued legal and related costs $ 3,884 $ 3,102 Accrued license fee — 6,231 Accrued royalties for licensed technologies 4,942 4,707 Accrued property and equipment 9,094 26,750 Accrued professional services 6,579 5,180 Product warranties 3,941 3,023 Taxes payable 2,323 4,079 Other 3,325 6,707 Accrued expenses and other current liabilities $ 34,088 $ 59,779 Product Warranties Changes in the reserve for product warranties were as follows for the periods indicated (in thousands): Six Months Ended 2023 2022 Beginning of period $ 3,023 $ 994 Amounts charged to cost of revenue 3,833 1,983 Repairs and replacements (2,915) (1,547) End of period $ 3,941 $ 1,430 Revenue and Deferred Revenue As of June 30, 2023, the aggregate amount of remaining performance obligations related to separately sold extended warranty service agreements, or allocated amounts for extended warranty service agreements bundled with sales of instruments, was $13.9 million, of which approximately $9.2 million is expected to be recognized to revenue in the next 12 months, with the remainder thereafter. The contract liabilities of $13.9 million and $11.0 million as of June 30, 2023 and December 31, 2022, respectively, consisted of deferred revenue related to extended warranty service agreements. The following revenue recognized for the periods were included in contract liabilities as of December 31, 2022 and December 31, 2021, respectively (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Deferred revenue recognized $ 1,856 $ 1,294 $ 3,963 $ 2,897 The following table represents revenue by source for the periods indicated (in thousands). Spatial products include the Company's Visium and Xenium products: Three Months Ended Six Months Ended 2023 2022 2023 2022 Instruments Chromium $ 12,859 $ 14,047 $ 24,485 $ 28,373 Spatial 18,096 689 25,646 792 Total instruments revenue 30,955 14,736 50,131 29,165 Consumables Chromium 100,794 91,048 201,890 182,327 Spatial 11,694 6,886 22,976 13,557 Total consumables revenue 112,488 97,934 224,866 195,884 Services 3,376 1,939 6,107 4,056 Total revenue $ 146,819 $ 114,609 $ 281,104 $ 229,105 The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Americas United States $ 88,394 $ 69,373 $ 164,675 $ 126,814 Americas (excluding United States) 3,149 1,515 5,664 3,761 Total Americas 91,543 70,888 170,339 130,575 Europe, Middle East and Africa 31,246 25,608 59,668 46,140 Asia-Pacific China¹ 12,755 9,984 26,786 31,766 Asia-Pacific (excluding China) 11,275 8,129 24,311 20,624 Total Asia-Pacific 24,030 18,113 51,097 52,390 Total Revenue $ 146,819 $ 114,609 $ 281,104 $ 229,105 1 Includes Hong Kong effective from the first quarter of 2023. Comparative periods have been adjusted for this inclusion.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Agreements The Company leases office, laboratory, manufacturing and distribution space in various locations worldwide. On November 6, 2020, the Company entered into a Master Lease Agreement ("MLA"), consisting of various lease components, to lease additional office building space near the Company's Pleasanton, California headquarters. All of the lease components related to the MLA have commenced and the MLA is expected to terminate on June 30, 2033. Future net lease payments related to the Company’s operating lease liabilities as of June 30, 2023 is as follows (in thousands): Operating Leases 2023 (excluding the six months ended June 30, 2023) $ 6,656 2024 16,354 2025 15,259 2026 16,014 2027 15,436 Thereafter 56,390 Total lease payments $ 126,109 Less: imputed interest (26,492) Present value of operating lease liabilities $ 99,617 Operating lease liabilities, current $ 9,286 Operating lease liabilities, noncurrent 90,331 Total operating lease liabilities $ 99,617 The following table summarizes additional information related to operating leases as of June 30, 2023: June 30, December 31, 2022 Weighted-average remaining lease term 7.9 years 8.1 years Weighted-average discount rate 5.8 % 5.5 % During the three months ended June 30, 2023, the Company made the decision to vacate some of its leased office space for the remaining lease term through 2025 and entered into an agreement to sublease certain portions of the vacated office space. In connection with this decision and based upon the expected cash flow from the sublease, the Company recognized $2.8 million of impairment loss associated with these long-lived assets within selling, general and administrative expenses on the condensed consolidated statement of operations during the three and six months ended June 30, 2023. Litigation The Company is regularly subject to lawsuits, claims, arbitration proceedings, administrative actions and other legal and regulatory proceedings involving intellectual property disputes, commercial disputes, competition and other matters, and the Company may become subject to additional types of lawsuits, claims, arbitration proceedings, administrative actions, government investigations and legal and regulatory proceedings in the future. NanoString On May 6, 2021, the Company filed suit against NanoString Technologies, Inc. ("NanoString") in the U.S. District Court for the District of Delaware alleging that NanoString's GeoMx Digital Spatial Profiler and associated instruments and reagents infringe U.S. Patent Nos. 10,472,669, 10,662,467, 10,961,566, 10,983,113 and 10,996,219 (the "GeoMx Action"). On May 19, 2021, the Company filed an amended complaint additionally alleging that the GeoMx products infringe U.S. Patent Nos. 11,001,878 and 11,008,607. On May 4, 2022, the Company filed an amended complaint in the GeoMx Action additionally alleging that the GeoMx products infringe U.S. Patent No. 11,293,917 and withdrawing the Company's claim of infringement of U.S. Patent No. 10,662,467. The Company seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to NanoString's making, using, selling, offering to sell, exporting and/or importing in the United States the GeoMx Digital Spatial Profiler and associated instruments and reagents. NanoString filed its answer to the GeoMx Action on May 18, 2022. A Markman hearing was held on February 17, 2023 and the Court issued its claim construction order on February 28, 2023. Trial is scheduled for November 2023. On February 28, 2022, the Company filed a second suit against NanoString in the U.S. District Court for the District of Delaware alleging that NanoString's CosMx Spatial Molecular Imager and associated instruments, reagents and services infringe U.S. Patent Nos. 10,227,639 and 11,021,737 (the "CosMx Action"). On May 12, 2022, the Company filed an amended complaint in the CosMx Action additionally alleging that the CosMx products infringe U.S. Patent Nos. 11,293,051, 11,293,052 and 11,293,054. NanoString filed its answer to the CosMx Action on May 26, 2022. On March 1, 2023, the Company filed a second amended complaint additionally alleging that the CosMx products infringe U.S. Patent No. 11,542,554. The Company seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to NanoString's making, using, selling, offering to sell, exporting and/or importing in the United States the CosMx Spatial Molecular Imager and associated instruments, reagents and services. NanoString filed its answer to the second amended complaint on March 22, 2023. Discovery is in progress. A Markman hearing is scheduled for December 2023 and trial is scheduled for September 2024. On August 16, 2022, NanoString filed a counterclaim in the CosMx Action alleging that the Company's Visium products infringe U.S. Patent No. 11,377,689. The Company filed its answer to NanoString's counterclaim in the CosMx Action on August 30, 2022. On November 23, 2022, the Company moved to sever claims relating to NanoString’s assertion of U.S. Patent No. 11,377,689 and consolidate those claims with the patent case NanoString filed against the Company on October 20, 2022 (discussed below). On January 24, 2023, the Court granted the Company's motion. On April 27, 2023, NanoString filed a motion in the CosMx Action to add antitrust, unfair competition and contract counterclaims. NanoString seeks, among other relief, injunctive relief (including that the Company grant NanoString a license to the patents that the Company asserted against NanoString in the CosMx Action) and unspecified damages (including attorney's fees). On July 10, 2023, the Court denied NanoString’s motion to add a contract counterclaim but otherwise granted the motion. On May 24, 2023, NanoString filed a motion to bifurcate its amended counterclaims and a motion for expedited discovery. On June 6, 2023, the Court denied NanoString’s motion to bifurcate and granted its motion for expedited discovery. The Company believes NanoString’s claims are meritless and intends to vigorously defend itself. On October 20, 2022, NanoString filed suit against the Company in the U.S. District Court for the District of Delaware alleging that the Company's Visium products infringe U.S. Patent No. 11,473,142, a continuation of U.S. Patent No. 11,377,689 (the "NanoString Action"). NanoString seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to the Company's making, using, selling, offering to sell, exporting and/or importing in the United States Visium products and associated instruments, reagents and services. On January 24, 2023, the Court severed NanoString’s claims with respect to U.S. Patent No. 11,377,689 from the CosMx Action and consolidated those claims with this action. Discovery is in progress. NanoString filed an amended complaint on January 27, 2023. The Company filed an answer to the NanoString Action on February 10, 2023. A Markman hearing is scheduled for December 2023 and trial is scheduled for December 2024. The Company believes NanoString's claims in the NanoString Action are meritless and intends to vigorously defend itself. On March 9, 2022, the Company filed suit in the Munich Regional Court in Germany alleging that NanoString's CosMx Spatial Molecular Imager and associated instruments, reagents and services infringe EP Patent No. 2794928B1 (the "EP928 Patent") (the "Germany CosMx Action"). A hearing on infringement was held on March 23, 2023. On May 17, 2023, the Munich Regional Court found that the CosMx products infringe the EP928 patent and issued a permanent injunction requiring NanoString to stop selling and supplying CosMx instruments and reagents for RNA detection in Germany. The injunction took effect on June 1, 2023. On May 25, 2023, NanoString filed an appeal of the German CosMx Action in the Munich Higher Regional Court. A hearing date has not yet been set for this appeal. On July 29, 2022, NanoString filed a nullity action with the German Federal Patent Court challenging the validity of the EP928 Patent. On February 10, 2023, the Federal Patent Court issued a preliminary opinion upholding the validity of certain claims of the EP928 Patent directed to in situ analysis. A hearing on validity is scheduled before the Federal Patent Court in May 2024 and a decision is expected around the end of 2024. On June 1, 2023, the Company filed suit in the Munich Local Division of the Unified Patent Court (“UPC”) alleging that NanoString's CosMx Spatial Molecular Imager and associated instruments, reagents and services infringe the EP928 patent and EP Patent No. 4108782 (the “EP782 patent”) (the “UPC CosMx Actions”). In the UPC CosMx Actions, the Company seeks preliminary injunctions with respect to NanoString’s CosMx instruments and reagents for RNA detection in the jurisdictions of the UPC in which the EP928 and EP782 patents are in effect. Preliminary injunction hearings are scheduled for the EP928 and EP782 patents on September 19, 2023 and September 5, 2023, respectively. On July 18, 2023, NanoString filed a European opposition against the EP782 patent. No schedule has yet been set for this opposition. On July 27, 2023, NanoString filed a revocation action against the EP928 patent in the Munich Central Division of the UPC. No schedule has yet been set for this action. Vizgen In May 2022, the Company filed suit against Vizgen, Inc. ("Vizgen") in the U.S. District Court for the District of Delaware alleging that Vizgen’s MERSCOPE Platform and workflow and Vizgen’s Lab Services program, including associated instruments and reagents, infringe U.S. Patent Nos. 11,021,737, 11,293,051, 11,293,052, 11,293,054 and 11,299,767. The Company seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to Vizgen's making, using, selling, offering to sell, exporting and/or importing in the United States the MERSCOPE Platform and workflow and Vizgen's Lab Services program, including associated instruments and reagents. On July 25, 2022, Vizgen filed a motion to dismiss the Company's claims for willful and indirect infringement, which the Court denied on September 19, 2022. Discovery is in progress. A Markman hearing is scheduled for December 2023 and trial is scheduled for November 2024. On August 30, 2022, Vizgen filed its answer and counterclaims alleging that the Company's Xenium products infringes U.S. Patent No. 11,098,303. Vizgen seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to the Company's making, using, selling, offering to sell, exporting and/or importing in the United States Xenium products, including associated instruments and reagents. Vizgen also filed counterclaims alleging that the Company tortiously interfered with Vizgen's contractual and business relationship with Harvard and that the Company engaged in unfair practices under Massachusetts state law. On October 27, 2022, the Company filed a partial answer and motion to dismiss the infringement counterclaim and the tort counterclaims. On February 2, 2023, the Company's motion to dismiss was denied. On March 15, 2023, the Company filed an amended complaint additionally alleging that the MERSCOPE Platform and workflow and Vizgen’s Lab Services program infringe U.S. Patent No. 11,549,136 and withdrawing its claim of infringement of U.S. Patent No. 11,293,054. On April 17, 2023, Vizgen filed its answer adding antitrust, unfair competition, tort and contract counterclaims. Vizgen seeks, among other relief, injunctive relief (including that the Company grant Vizgen a license to the patents that the Company asserted against Vizgen) and unspecified damages (including attorneys' fees). On May 18, 2023, the Company filed a motion to dismiss Vizgen’s amended counterclaims. On July 10, 2023, the Court granted our motion to dismiss Vizgen’s contract counterclaim but otherwise denied our motion to dismiss. The Company believes Vizgen’s claims are meritless and intends to vigorously defend itself. On June 1, 2023, the Company filed suit in the Hamburg Local Division of the Unified Patent Court alleging that Vizgen’s MERSCOPE products infringe the EP782 patent. A hearing date has not yet been set. The Company seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to Vizgen’s MERSCOPE products in the jurisdictions of the UPC in which the EP782 patent is in effect. Parse On August 24, 2022, the Company filed suit against Parse Biosciences, Inc. ("Parse") in the U.S. District Court for the District of Delaware alleging that Parse’s Evercode Whole Transcriptomics and ATAC-seq products infringe U.S. Patent Nos. 10,155,981, 10,697,013, 10,240,197, 10,150,995, 10,619,207 and 10,738,357. The Company seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to Parse's making, using, selling, offering to sell, exporting and/or importing in the United States the Evercode Whole Transcriptomics and ATAC-seq products. On October 17, 2022, Parse filed a motion to dismiss alleging that the asserted claims are directed to patent ineligible subject matter. The Court held a hearing on the motion to dismiss on November 22, 2022, and supplemental briefing was submitted on December 15, 2022. The Court has not yet ruled on the motion. Discovery is in progress. A Markman hearing is scheduled for February 2024 and trial is scheduled for December 2024. Between April 20 and June 21, 2023, Parse filed petitions for Inter Partes Review of all of the patents asserted.

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Capital Stock	Capital Stock As of June 30, 2023, the number of shares of Class A common stock and Class B common stock issued and outstanding were 103,266,602 and 14,056,833, respectively. The following table represents the number of shares of Class B common stock converted to shares of Class A common stock upon the election of the holders of such shares during the periods: Three Months Ended Six Months Ended 2023 2022 2023 2022 Class B common stock converted to Class A common stock 4,010,422 579,210 4,610,422 779,210

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	Equity Incentive Plans Stock-based Compensation The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Cost of revenue $ 1,835 $ 1,453 $ 3,296 $ 2,467 Research and development 19,560 15,579 37,340 26,870 Selling, general and administrative 24,301 19,281 47,161 33,023 Total stock-based compensation expense $ 45,696 $ 36,313 $ 87,797 $ 62,360 Restricted Stock Units Restricted stock unit activity for the six months ended June 30, 2023 is as follows: Restricted Stock Weighted-Average Outstanding as of December 31, 2022 5,836,192 $ 52.21 Granted 1,948,808 50.68 Vested (922,619) 61.97 Cancelled (428,549) 57.69 Outstanding as of June 30, 2023 6,433,832 $ 49.98 Stock Options Stock option activity for the six months ended June 30, 2023 is as follows: Stock Options Weighted-Average Outstanding as of December 31, 2022 7,964,557 $ 37.10 Granted 300,870 50.80 Exercised (1,088,527) 5.02 Cancelled and forfeited (169,273) 82.96 Outstanding as of June 30, 2023 7,007,627 $ 41.56 Market-based Performance Stock Awards In March 2023, the Company granted 172,842 performance restricted stock unit awards (PSAs) under the 2019 Plan to certain members of management, which are subject to the achievement of certain stock price thresholds established by the Company's Compensation Committee of the Board of Directors. The PSAs each vest in equal installments upon the achievement of stock price thresholds of $72.14, $96.19 and $120.24 respectively, calculated based on the volume-weighted average price per share of the Company’s Class A common stock over the immediately trailing 20 trading day period for each respective threshold. The stock price thresholds can be met any time prior to the fifth anniversary of the date of grant. The vesting of the PSAs can also be triggered upon certain change in control events and achievement of certain change in control price thresholds or in the event of death or disability. The weighted-average grant date fair value of the PSAs was $43.13. Stock-based compensation expense recognized for these market-based awards was approximately $1.8 million and $2.0 million for the three and six months ended June 30, 2023. The Company estimates the fair values of shares granted under the PSAs using a Monte Carlo simulation model with the following assumptions: Expected volatility 71% Risk-free interest rate 3.7% Expected dividend —% In September 2022, the Company granted 709,025 PSAs including performance stock options and RSUs under the 2019 Plan to certain members of management, which are subject to the achievement of certain stock price thresholds established by the Company's Compensation Committee of the Board of Directors. As of June 30, 2023, none of the stock price thresholds had been met for any of the PSAs, resulting in no shares vesting or becoming exercisable. 2019 Employee Stock Purchase Plan A total of 3,486,671 shares of Class A common stock were reserved for issuance under the 2019 Employee Stock Purchase Plan ("ESPP"). The price at which Class A common stock is purchased under the ESPP is equal to 85% of the fair market value of the common stock on the first day of the offering period or purchase date, whichever is lower. During the three months ended June 30, 2023 and 2022, 117,280 and 91,871 shares of Class A common stock, respectively, were issued under the ESPP. There were no shares of Class A common stock issued under the ESPP during the three months ended March 31, 2023 and 2022. As of June 30, 2023, there were 2,991,320 shares available for issuance under the ESPP.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: Three Months Ended Six Months Ended 2023 2022 2023 2022 Stock options to purchase common stock 7,007,627 8,159,680 7,007,627 8,159,680 Restricted stock units 6,433,832 2,565,452 6,433,832 2,565,452 Shares committed under ESPP 34,718 19,611 34,718 19,611 Shares subject to repurchase — 6,250 — 6,250 Total 13,476,177 10,750,993 13,476,177 10,750,993

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventIn January 2023, the Company signed an agreement to acquire certain intangible and other assets for an upfront payment of $10.0 million relating to an intellectual property license. In July 2023, the transaction closed and the Company paid $10.0 million upon acquiring the assets. Under the agreement, the Company is obligated to provide additional cash consideration if certain technology development milestones are met. In July 2023, one of the development milestones was met and triggered a $10.0 million payment. Up to $26.3 million of additional cash consideration is due if certain technology development milestones are met. In addition, the Company expects to pay additional cash consideration tied to future sales milestones if such milestones are met.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (62,414)	$ (50,747)	$ (64,458)	$ (42,413)	$ (113,161)	$ (106,871)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements, which include the Company’s accounts and the accounts of its wholly-owned subsidiaries, are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The condensed consolidated balance sheets at December 31, 2022 have been derived from the audited consolidated financial statements of the Company at that date. Certain information and footnote disclosures typically included in the Company’s audited consolidated financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. All intercompany transactions and balances have been eliminated. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company generates revenue from sales of products and services, and its products consist of instruments and consumables. Revenue from product sales is recognized when control of the product is transferred, which is generally upon shipment to the customer. Instrument service agreements, which relate to extended warranties, are typically entered into for one-year terms, following the expiration of the standard one-year warranty period. Revenue for extended warranties is recognized ratably over the term of the extended warranty period as a stand ready performance obligation. Revenue is recorded net of discounts, distributor commissions and sales taxes collected on behalf of governmental authorities. Customers are invoiced generally upon shipment, or upon order for services, and payment is typically due within 45 days. Cash received from customers in advance of product shipment or providing services is recorded as a contract liability. The Company’s contracts with its customers generally do not include rights of return or a significant financing component. The Company regularly enters into contracts that include various combinations of products and services which are generally distinct and accounted for as separate performance obligations. The transaction price is allocated to each performance obligation in proportion to its standalone selling price. The Company determines standalone selling price using average selling
Net Loss Per Share	Net Loss Per Share Net loss per share is computed using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights and sharing of losses, of the Class A common stock and Class B common stock are identical, other than voting rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, adjusted for outstanding shares that are subject to repurchase. For the calculation of diluted net loss per share, basic net loss per share is adjusted by the effect of dilutive securities including awards under the Company’s equity compensation plans. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. For periods in which the Company reports net losses, diluted net loss per share is the same as basic net loss per share because potentially dilutive shares of common stock are not assumed to have been issued if their effect is anti-dilutive.

Other Financial Statement Inf_2

Other Financial Statement Information (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Marketable Securities	Available-for-sale securities consisted of the following (in thousands): June 30, 2023 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fair Value Measurement Cash equivalents: Money market funds $ 315,407 $ — $ — $ 315,407 $ 163,184 $ — $ — $ 163,184 Level 1 Marketable securities: Corporate debt securities 20,209 — (234) 19,975 153,794 4 (2,768) 151,030 Level 2 Government debt securities 42,611 — (623) 41,988 54,136 — (1,247) 52,889 Level 2 Asset-backed securities 3,591 — (48) 3,543 6,424 — (105) 6,319 Level 2 Total available-for-sale securities $ 381,818 $ — $ (905) $ 380,913 $ 377,538 $ 4 $ (4,120) $ 373,422
Schedule of Debt Securities, Available-for-sale	The contractual maturities of marketable securities as of June 30, 2023 were as follows (in thousands): Fair Value Due in one year or less $ 59,716 Due after one year to five years 5,790 Total marketable securities $ 65,506
Schedule of Inventory	Inventory was comprised of the following (in thousands): June 30, December 31, Purchased materials $ 37,942 $ 34,497 Work in progress 24,098 24,650 Finished goods 21,647 22,482 Inventory $ 83,687 $ 81,629
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): June 30, December 31, Land $ 36,801 $ 36,780 Building 137,167 — Laboratory equipment and machinery 63,180 54,658 Computer equipment and software 15,862 12,565 Furniture and fixtures 10,847 9,642 Leasehold improvements 92,783 91,518 Construction in progress 13,801 152,995 Total property and equipment 370,441 358,158 Less: accumulated depreciation and amortization (85,528) (68,830) Property and equipment, net $ 284,913 $ 289,328
Schedule of Accrued Compensation and Related Benefits	Accrued compensation and related benefits were comprised of the following as of the dates indicated (in thousands): June 30, December 31, Accrued payroll and related costs $ 2,965 $ 2,052 Accrued bonus 10,770 17,081 Accrued commissions 5,286 5,143 Accrued acquisition-related compensation — 5,470 Other 3,351 2,929 Accrued compensation and related benefits $ 22,372 $ 32,675
Schedule of Accrued Expense and Other Current Liabilities	Accrued expenses and other current liabilities were comprised of the following as of the dates indicated (in thousands): June 30, December 31, Accrued legal and related costs $ 3,884 $ 3,102 Accrued license fee — 6,231 Accrued royalties for licensed technologies 4,942 4,707 Accrued property and equipment 9,094 26,750 Accrued professional services 6,579 5,180 Product warranties 3,941 3,023 Taxes payable 2,323 4,079 Other 3,325 6,707 Accrued expenses and other current liabilities $ 34,088 $ 59,779
Schedule of Changes in the Reserve for Product Warranties	Changes in the reserve for product warranties were as follows for the periods indicated (in thousands): Six Months Ended 2023 2022 Beginning of period $ 3,023 $ 994 Amounts charged to cost of revenue 3,833 1,983 Repairs and replacements (2,915) (1,547) End of period $ 3,941 $ 1,430
Schedule of Revenue of Recognized in Contract Liabilities	The following revenue recognized for the periods were included in contract liabilities as of December 31, 2022 and December 31, 2021, respectively (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Deferred revenue recognized $ 1,856 $ 1,294 $ 3,963 $ 2,897
Schedule of Revenue by Source	The following table represents revenue by source for the periods indicated (in thousands). Spatial products include the Company's Visium and Xenium products: Three Months Ended Six Months Ended 2023 2022 2023 2022 Instruments Chromium $ 12,859 $ 14,047 $ 24,485 $ 28,373 Spatial 18,096 689 25,646 792 Total instruments revenue 30,955 14,736 50,131 29,165 Consumables Chromium 100,794 91,048 201,890 182,327 Spatial 11,694 6,886 22,976 13,557 Total consumables revenue 112,488 97,934 224,866 195,884 Services 3,376 1,939 6,107 4,056 Total revenue $ 146,819 $ 114,609 $ 281,104 $ 229,105
Schedule of Revenue by Geographic Location	The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Americas United States $ 88,394 $ 69,373 $ 164,675 $ 126,814 Americas (excluding United States) 3,149 1,515 5,664 3,761 Total Americas 91,543 70,888 170,339 130,575 Europe, Middle East and Africa 31,246 25,608 59,668 46,140 Asia-Pacific China¹ 12,755 9,984 26,786 31,766 Asia-Pacific (excluding China) 11,275 8,129 24,311 20,624 Total Asia-Pacific 24,030 18,113 51,097 52,390 Total Revenue $ 146,819 $ 114,609 $ 281,104 $ 229,105 1 Includes Hong Kong effective from the first quarter of 2023. Comparative periods have been adjusted for this inclusion.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Company's Operating Lease Liabilities	Future net lease payments related to the Company’s operating lease liabilities as of June 30, 2023 is as follows (in thousands): Operating Leases 2023 (excluding the six months ended June 30, 2023) $ 6,656 2024 16,354 2025 15,259 2026 16,014 2027 15,436 Thereafter 56,390 Total lease payments $ 126,109 Less: imputed interest (26,492) Present value of operating lease liabilities $ 99,617 Operating lease liabilities, current $ 9,286 Operating lease liabilities, noncurrent 90,331 Total operating lease liabilities $ 99,617
Schedule of Additional Information Related to Operating Leases	The following table summarizes additional information related to operating leases as of June 30, 2023: June 30, December 31, 2022 Weighted-average remaining lease term 7.9 years 8.1 years Weighted-average discount rate 5.8 % 5.5 %

Capital Stock (Tables)

Capital Stock (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Common Stock Issued and Outstanding	The following table represents the number of shares of Class B common stock converted to shares of Class A common stock upon the election of the holders of such shares during the periods: Three Months Ended Six Months Ended 2023 2022 2023 2022 Class B common stock converted to Class A common stock 4,010,422 579,210 4,610,422 779,210

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Recorded Stock-based Compensation Expense in the Condensed Consolidated Statement of Operations	The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Cost of revenue $ 1,835 $ 1,453 $ 3,296 $ 2,467 Research and development 19,560 15,579 37,340 26,870 Selling, general and administrative 24,301 19,281 47,161 33,023 Total stock-based compensation expense $ 45,696 $ 36,313 $ 87,797 $ 62,360
Schedule of RSU activity	Restricted stock unit activity for the six months ended June 30, 2023 is as follows: Restricted Stock Weighted-Average Outstanding as of December 31, 2022 5,836,192 $ 52.21 Granted 1,948,808 50.68 Vested (922,619) 61.97 Cancelled (428,549) 57.69 Outstanding as of June 30, 2023 6,433,832 $ 49.98
Schedule of the Company's Stock Option Activity	Stock option activity for the six months ended June 30, 2023 is as follows: Stock Options Weighted-Average Outstanding as of December 31, 2022 7,964,557 $ 37.10 Granted 300,870 50.80 Exercised (1,088,527) 5.02 Cancelled and forfeited (169,273) 82.96 Outstanding as of June 30, 2023 7,007,627 $ 41.56
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The Company estimates the fair values of shares granted under the PSAs using a Monte Carlo simulation model with the following assumptions: Expected volatility 71% Risk-free interest rate 3.7% Expected dividend —%

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Shares of Common Stock Equivalents Excluded from Computation of Diluted Net Loss Per Share	The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: Three Months Ended Six Months Ended 2023 2022 2023 2022 Stock options to purchase common stock 7,007,627 8,159,680 7,007,627 8,159,680 Restricted stock units 6,433,832 2,565,452 6,433,832 2,565,452 Shares committed under ESPP 34,718 19,611 34,718 19,611 Shares subject to repurchase — 6,250 — 6,250 Total 13,476,177 10,750,993 13,476,177 10,750,993

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Revenue recognition, payment due period	45 days

Other Financial Statement Inf_3

Other Financial Statement Information - Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Gross Unrealized Gains	$ 0	$ 4
Gross Unrealized Losses	(905)	(4,120)
Marketable securities, fair value	65,506
Total available-for-sale securities, amortized cost	381,818	377,538
Total available-for-sale securities, fair value	380,913	373,422
Money market funds | Level 1
Marketable Securities [Line Items]
Money market funds	315,407	163,184
Corporate debt securities | Level 2
Marketable Securities [Line Items]
Total marketable securities	20,209	153,794
Gross Unrealized Gains	0	4
Gross Unrealized Losses	(234)	(2,768)
Marketable securities, fair value	19,975	151,030
Government debt securities | Level 2
Marketable Securities [Line Items]
Total marketable securities	42,611	54,136
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(623)	(1,247)
Marketable securities, fair value	41,988	52,889
Asset-backed securities | Level 2
Marketable Securities [Line Items]
Total marketable securities	3,591	6,424
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(48)	(105)
Marketable securities, fair value	$ 3,543	$ 6,319

Other Financial Statement Inf_4

Other Financial Statement Information - Contractual Maturities of Marketable Securities (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Fair Value
Due in one year or less	$ 59,716
Due after one year to five years	5,790
Total marketable securities	$ 65,506

Other Financial Statement Inf_5

Other Financial Statement Information - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Concentration Risk [Line Items]
Gross realized loss	$ 0	$ 0	$ 1,700	$ 0
Gross realized gains	0	$ 0	0	$ 0
Transaction price allocated to remaining performance obligations	13,900		13,900
Deferred revenue	9,217		9,217		$ 7,867
Deferred revenue recognized	13,900		13,900		$ 11,000
Products and Services, Excluding Grant Revenue
Concentration Risk [Line Items]
Deferred revenue	$ 9,200		$ 9,200

Other Financial Statement Inf_6

Other Financial Statement Information - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Purchased materials	$ 37,942	$ 34,497
Work in progress	24,098	24,650
Finished goods	21,647	22,482
Inventory	$ 83,687	$ 81,629

Other Financial Statement Inf_7

Other Financial Statement Information - Schedule Of Property Plant And Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 370,441	$ 358,158
Less: accumulated depreciation and amortization	(85,528)	(68,830)
Property and equipment, net	284,913	289,328
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	36,801	36,780
Building
Property, Plant and Equipment [Line Items]
Total property and equipment	137,167	0
Laboratory equipment and machinery
Property, Plant and Equipment [Line Items]
Total property and equipment	63,180	54,658
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total property and equipment	15,862	12,565
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	10,847	9,642
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	92,783	91,518
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 13,801	$ 152,995

Other Financial Statement Inf_8

Other Financial Statement Information - Schedule of Accrued Compensation and Related Benefits (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and related costs	$ 2,965	$ 2,052
Accrued bonus	10,770	17,081
Accrued commissions	5,286	5,143
Accrued acquisition-related compensation	0	5,470
Other	3,351	2,929
Accrued compensation and related benefits	$ 22,372	$ 32,675

Other Financial Statement Inf_9

Other Financial Statement Information - Schedule of Accrued Expense And Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued legal and related costs	$ 3,884	$ 3,102
Accrued license fee	0	6,231
Accrued royalties for licensed technologies	4,942	4,707
Accrued property and equipment	9,094	26,750
Accrued professional services	6,579	5,180
Product warranties	3,941	3,023
Taxes payable	2,323	4,079
Other	3,325	6,707
Accrued expenses and other current liabilities	$ 34,088	$ 59,779

Other Financial Statement In_10

Other Financial Statement Information - Schedule of Changes in the Reserve for Product Warranties (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning of period	$ 3,023	$ 994
Amounts charged to cost of revenue	3,833	1,983
Repairs and replacements	(2,915)	(1,547)
End of period	$ 3,941	$ 1,430

Other Financial Statement In_11

Other Financial Statement Information - Revenue Recognition (Details)	Jun. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected period of revenue recognition	12 months

Other Financial Statement In_12

Other Financial Statement Information - Schedule of Revenue of Recognized in Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue recognized	$ 1,856	$ 1,294	$ 3,963	$ 2,897

Other Financial Statement In_13

Other Financial Statement Information - Schedule of Revenue by Source (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from External Customer [Line Items]
Total revenue	$ 146,819	$ 114,609	$ 281,104	$ 229,105
Instruments
Revenue from External Customer [Line Items]
Total revenue	30,955	14,736	50,131	29,165
Chromium
Revenue from External Customer [Line Items]
Total revenue	12,859	14,047	24,485	28,373
Spatial
Revenue from External Customer [Line Items]
Total revenue	18,096	689	25,646	792
Consumables
Revenue from External Customer [Line Items]
Total revenue	112,488	97,934	224,866	195,884
Chromium
Revenue from External Customer [Line Items]
Total revenue	100,794	91,048	201,890	182,327
Spatial
Revenue from External Customer [Line Items]
Total revenue	11,694	6,886	22,976	13,557
Services
Revenue from External Customer [Line Items]
Total revenue	$ 3,376	$ 1,939	$ 6,107	$ 4,056

Other Financial Statement In_14

Other Financial Statement Information - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 146,819	$ 114,609	$ 281,104	$ 229,105
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	91,543	70,888	170,339	130,575
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	88,394	69,373	164,675	126,814
Americas (excluding United States)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	3,149	1,515	5,664	3,761
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	31,246	25,608	59,668	46,140
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	24,030	18,113	51,097	52,390
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	12,755	9,984	26,786	31,766
Asia-Pacific (excluding China)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 11,275	$ 8,129	$ 24,311	$ 20,624

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Company's Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
2023 (excluding the six months ended June 30, 2023)	$ 6,656
2024	16,354
2025	15,259
2026	16,014
2027	15,436
Thereafter	56,390
Total lease payments	126,109
Less: imputed interest	(26,492)
Present value of operating lease liabilities	99,617
Operating lease liabilities, current	9,286	$ 9,037
Operating lease liabilities, noncurrent	90,331	$ 86,139
Total operating lease liabilities	$ 99,617

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Additional Information Related to Operating Leases (Detail)	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term	7 years 10 months 24 days	8 years 1 month 6 days
Weighted-average discount rate	5.80%	5.50%

Commitments and Contingencies_3

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Impairment loss of long-lived assets	$ 2,800	$ 2,785	$ 0

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail)	Jun. 30, 2023 shares
Common Class A
Class of Stock [Line Items]
Common stock shares issued (in shares)	103,266,602
Common stock shares outstanding (in shares)	103,266,602
Common Class B
Class of Stock [Line Items]
Common stock shares issued (in shares)	14,056,833
Common stock shares outstanding (in shares)	14,056,833

Capital Stock - Schedule of Com

Capital Stock - Schedule of Common Stock Issued and Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Shares Converted From Class B to Class A
Conversion of Stock [Line Items]
Conversion of stock, shares converted (in shares)	4,010,422	579,210	4,610,422	779,210

Equity Incentive Plans - Schedu

Equity Incentive Plans - Schedule of Recorded Stock-Based Compensation Expense in the Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed [Line Items]
Stock-based compensation expense	$ 45,696	$ 36,313	$ 87,797	$ 62,360
Cost of revenue
Share-based Payment Arrangement, Expensed [Line Items]
Stock-based compensation expense	1,835	1,453	3,296	2,467
Research and development
Share-based Payment Arrangement, Expensed [Line Items]
Stock-based compensation expense	19,560	15,579	37,340	26,870
Selling, general and administrative
Share-based Payment Arrangement, Expensed [Line Items]
Stock-based compensation expense	$ 24,301	$ 19,281	$ 47,161	$ 33,023

Equity Incentive Plans - Sche_2

Equity Incentive Plans - Schedule of RSU Activity (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Units
Beginning balance (in shares) | shares	5,836,192
Granted (in shares) | shares	1,948,808
Vested (in shares) | shares	(922,619)
Cancelled (in shares) | shares	(428,549)
Ending balance (in shares) | shares	6,433,832
Weighted-Average Grant Date Fair Value (per share)
Beginning balance (in dollars per share) | $ / shares	$ 52.21
Granted (in dollars per share) | $ / shares	50.68
Vested (in dollars per share) | $ / shares	61.97
Cancelled (in dollars per share) | $ / shares	57.69
Ending balance (in dollars per share) | $ / shares	$ 49.98

Equity Incentive Plans - Sche_3

Equity Incentive Plans - Schedule of Company's Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Stock Options
Beginning balance (in shares) | shares	7,964,557
Granted (in shares) | shares	300,870
Exercised (in shares) | shares	(1,088,527)
Cancelled (in shares) | shares	(169,273)
Ending balance (in shares) | shares	7,007,627
Weighted-Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 37.10
Granted (in dollars per share) | $ / shares	50.80
Exercised (in dollars per share) | $ / shares	5.02
Cancelled (in dollars per share) | $ / shares	82.96
Ending balance (in dollars per share) | $ / shares	$ 41.56

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended				6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (in shares)							1,948,808
Weighted-average grant date fair value, granted (in dollars per share)							$ 50.68
Market-based Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by predetermined share price trading day							20 days
Weighted-average grant date fair value, granted (in dollars per share)							$ 43.13
Share based payment arrangement recognized			$ 1.8				$ 2
Market-based Performance Awards | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from issuance of stock (in dollars per share)							$ 72.14
Market-based Performance Awards | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from issuance of stock (in dollars per share)							96.19
Market-based Performance Awards | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from issuance of stock (in dollars per share)							$ 120.24
Performance Stock Options and Restricted stock Units | 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (in shares)	172,842	709,025
Employee Stock | 2019 Plan | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement percent							85%
Employee Stock | 2019 Employee Stock Purchase Plan | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)			2,991,320				2,991,320	3,486,671
Shares issued in period for previously outstanding awards (in shares)			117,280	0	91,871	0

Equity Incentive Plans - Fair V

Equity Incentive Plans - Fair Values Of Shares Under The Performance Stock Options (Details) - Performance Stock Awards	6 Months Ended
	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	71%
Risk-free interest rate	3.70%
Expected dividend	0%

Net Loss Per Share - Shares of

Net Loss Per Share - Shares of Common Stock Equivalents Were Excluded From The Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	13,476,177	10,750,993	13,476,177	10,750,993
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	7,007,627	8,159,680	7,007,627	8,159,680
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	6,433,832	2,565,452	6,433,832	2,565,452
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	34,718	19,611	34,718	19,611
Shares subject to repurchase
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	6,250	0	6,250

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	1 Months Ended		6 Months Ended
	Jul. 31, 2023	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Subsequent Event [Line Items]
Upfront payment			$ 723	$ 0
Series of Individually Immaterial Asset Acquisitions
Subsequent Event [Line Items]
Upfront payment		$ 10,000
Series of Individually Immaterial Asset Acquisitions | Subsequent Event
Subsequent Event [Line Items]
Paid for asset acquisition	$ 10,000
Cash consideration	26,300
Series of Individually Immaterial Asset Acquisitions | Subsequent Event | Milestone One
Subsequent Event [Line Items]
Milestone payment	$ 10,000