Butterfly Network (BFLY) 10-Q 4 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 25, 2023
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Entity File Number	001-39292
Entity Registrant Name	Butterfly Network, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4618156
Entity Address, Address Line One	1600 District Avenue
Entity Address, City or Town	Burlington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01803
City Area Code	781
Local Phone Number	557-4800
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001804176
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Listings [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	BFLY
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		180,207,192
Warrants to purchase one share of Class A common stock, each at an exercise price of $11.50 per share
Entity Listings [Line Items]
Title of 12(b) Security	Warrants to purchase one share of Class A common stock, each at an exercise price of $11.50 per share
Trading Symbol	BFLY WS
Security Exchange Name	NYSE
Class B Common Stock
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		26,426,937

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 166,806	$ 162,561
Marketable securities		75,250
Accounts receivable, net	17,781	14,685
Inventories	86,825	59,970
Current portion of vendor advances	10,207	35,182
Prepaid expenses and other current assets	10,212	9,489
Total current assets	291,831	357,137
Property and equipment, net	29,209	31,331
Non-current portion of vendor advances	15,441
Operating lease assets	20,566	21,567
Other non-current assets	7,541	7,535
Total assets	364,588	417,570
Current liabilities:
Accounts payable	8,386	7,211
Deferred revenue, current	13,725	15,856
Accrued purchase commitments, current	531	2,146
Accrued expenses and other current liabilities	23,197	26,116
Total current liabilities	45,839	51,329
Deferred revenue, non-current	6,026	4,957
Warrant liabilities	4,957	5,370
Operating lease liabilities	28,699	29,966
Other non-current liabilities	1,362	588
Total liabilities	86,883	92,210
Commitments and contingencies (Note 13)
Stockholders' equity:
Additional paid-in capital	935,833	921,278
Accumulated deficit	(658,149)	(595,938)
Total stockholders' equity	277,705	325,360
Total liabilities and stockholders' equity	364,588	417,570
Class A Common Stock
Stockholders' equity:
Common stock	18	17
Class B Common Stock
Stockholders' equity:
Common stock	$ 3	$ 3

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Class A Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock shares issued	179,720,918	174,459,956
Common stock, shares outstanding (in shares)	179,720,918	174,459,956
Class B Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	27,000,000	27,000,000
Common stock shares issued	26,426,937	26,426,937
Common stock, shares outstanding (in shares)	26,426,937	26,426,937

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Total revenue	$ 18,487	$ 19,215	$ 33,963	$ 34,789
Cost of revenue:
Total cost of revenue	7,565	8,643	13,952	15,874
Gross profit	10,922	10,572	20,011	18,915
Operating expenses:
Research and development	15,626	23,220	32,277	46,843
Sales and marketing	9,728	16,438	19,761	31,640
General and administrative	14,660	18,677	25,678	37,477
Other	2,172	692	8,605	942
Total operating expenses	42,186	59,027	86,321	116,902
Loss from operations	(31,264)	(48,455)	(66,310)	(97,987)
Interest income	2,027	260	3,811	270
Change in fair value of warrant liabilities	620	12,805	413	17,968
Other income (expense), net	(60)	(388)	(44)	(488)
Loss before provision for income taxes	(28,677)	(35,778)	(62,130)	(80,237)
Provision (benefit) for income taxes	(6)	23	81	41
Net loss and comprehensive loss	$ (28,671)	$ (35,801)	$ (62,211)	$ (80,278)
Net loss per common share - basic	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Net loss per common share - diluted	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Weighted-average common shares outstanding - basic	204,895,341	199,399,356	203,737,044	199,200,909
Weighted-average common shares outstanding - diluted	204,895,341	199,399,356	203,737,044	199,200,909
Product
Revenue:
Total revenue	$ 12,273	$ 13,429	$ 21,121	$ 24,443
Cost of revenue:
Total cost of revenue	5,487	6,799	9,836	12,947
Software and other services
Revenue:
Total revenue	6,214	5,786	12,842	10,346
Cost of revenue:
Total cost of revenue	$ 2,078	$ 1,844	$ 4,116	$ 2,927

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Accumulated Deficit	Class A Common Stock	Class B Common Stock	Total
Balance at beginning of the period at Dec. 31, 2021	$ 17	$ 3	$ 874,886	$ (427,215)			$ 447,691
Balance at beginning of the period (in shares) at Dec. 31, 2021	171,613,049	26,426,937
Increase (Decrease) in Stockholders' Equity
Net loss				(80,278)			(80,278)
Common stock issued upon exercise of stock options and warrants			810				810
Common stock issued upon exercise of stock options and warrants (in shares)	343,667
Common stock issued upon vesting of restricted stock units			(106)				(106)
Common stock issued upon vesting of restricted stock units (in shares)	859,816
Stock-based compensation expense			18,572				18,572
Balance at end of the period at Jun. 30, 2022	$ 17	$ 3	894,162	(507,493)			386,689
Balance at end of the period (in shares) at Jun. 30, 2022	172,816,532	26,426,937
Balance at beginning of the period at Mar. 31, 2022	$ 17	$ 3	884,336	(471,692)			412,664
Balance at beginning of the period (in shares) at Mar. 31, 2022	172,523,557	26,426,937
Increase (Decrease) in Stockholders' Equity
Net loss				(35,801)			(35,801)
Common stock issued upon exercise of stock options and warrants			159				159
Common stock issued upon exercise of stock options and warrants (in shares)	79,651
Common stock issued upon vesting of restricted stock units (in shares)	213,324
Stock-based compensation expense			9,667				9,667
Balance at end of the period at Jun. 30, 2022	$ 17	$ 3	894,162	(507,493)			386,689
Balance at end of the period (in shares) at Jun. 30, 2022	172,816,532	26,426,937
Balance at beginning of the period at Dec. 31, 2022	$ 17	$ 3	921,278	(595,938)			325,360
Balance at beginning of the period (in shares) at Dec. 31, 2022	174,459,956	26,426,937			174,459,956	26,426,937
Increase (Decrease) in Stockholders' Equity
Net loss				(62,211)			(62,211)
Common stock issued upon exercise of stock options and warrants			136				136
Common stock issued upon exercise of stock options and warrants (in shares)	124,660
Common stock issued upon vesting of restricted stock units	$ 1						1
Common stock issued upon vesting of restricted stock units (in shares)	5,136,302
Stock-based compensation expense			14,419				14,419
Balance at end of the period at Jun. 30, 2023	$ 18	$ 3	935,833	(658,149)			277,705
Balance at end of the period (in shares) at Jun. 30, 2023	179,720,918	26,426,937			179,720,918	26,426,937
Balance at beginning of the period at Mar. 31, 2023	$ 18	$ 3	925,604	(629,478)			296,147
Balance at beginning of the period (in shares) at Mar. 31, 2023	177,368,499	26,426,937
Increase (Decrease) in Stockholders' Equity
Net loss				(28,671)			(28,671)
Common stock issued upon exercise of stock options and warrants			136				136
Common stock issued upon exercise of stock options and warrants (in shares)	124,660
Common stock issued upon vesting of restricted stock units (in shares)	2,227,759
Stock-based compensation expense			10,093				10,093
Balance at end of the period at Jun. 30, 2023	$ 18	$ 3	$ 935,833	$ (658,149)			$ 277,705
Balance at end of the period (in shares) at Jun. 30, 2023	179,720,918	26,426,937			179,720,918	26,426,937

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (62,211)	$ (80,278)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,305	2,190
Stock-based compensation expense	14,109	18,015
Change in fair value of warrant liabilities	(413)	(17,968)
Other	(651)	137
Changes in operating assets and liabilities:
Accounts receivable	(3,293)	(909)
Inventories	(26,855)	(29,344)
Prepaid expenses and other assets	(615)	(3,493)
Vendor advances	9,534	11,330
Accounts payable	1,390	(2,437)
Deferred revenue	(1,062)	3,979
Accrued purchase commitments	(1,615)
Change in operating lease assets and liabilities	196	1,118
Accrued expenses and other liabilities	(2,557)	(569)
Net cash used in operating activities	(69,738)	(98,229)
Cash flows from investing activities:
Purchases of marketable securities	(297)
Sales of marketable securities	76,484
Purchases of property and equipment, including capitalized software	(2,223)	(11,578)
Sales of property and equipment	10
Net cash provided by (used in) investing activities	73,974	(11,578)
Cash flows from financing activities:
Proceeds from exercise of stock options and warrants	136	810
Other financing activities	0	(101)
Net cash provided by financing activities	136	709
Net increase (decrease) in cash, cash equivalents, and restricted cash	4,372	(109,098)
Cash, cash equivalents, and restricted cash, beginning of period	166,828	426,841
Cash, cash equivalents, and restricted cash, end of period	$ 171,200	$ 317,743

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2023
Organization and Description of Business
Organization and Description of Business	Note 1. Organization and Description of Business The Company is an innovative digital health business transforming care with handheld, whole-body ultrasound. Powered by its proprietary Ultrasound-on-Chip™ technology, the solution enables the acquisition of imaging information from an affordable, powerful device that fits in a healthcare professional’s pocket with a combination of cloud-connected software and hardware technology. ​ The Company was incorporated in Delaware on February 4, 2020 as Longview Acquisition Corp. (“Longview”). Following a business combination between the Company and BFLY Operations, Inc. (formerly Butterfly Network, Inc.) on February 12, 2021 (the “Business Combination”), the Company’s legal name became Butterfly Network, Inc. ​ The Company operates wholly-owned subsidiaries in Australia, Germany, the Netherlands, Taiwan, and the United Kingdom. ​ Although the Company has incurred recurring losses in each year since inception, the Company expects its cash and cash equivalents will be sufficient to fund operations for at least the next twelve months.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and the accounting disclosure rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the 2022 Annual Report on Form 10-K. All intercompany balances and transactions are eliminated upon consolidation. The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited consolidated financial statements as of that date but does not include all disclosures, including certain notes, required by U.S. GAAP for annual reporting. Certain prior period amounts presented on the statement of operations and comprehensive loss for the three and six months ended June 30, 2022 have been reclassified to conform to the current period presentation. See the Operating Expenses – Other In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending December 31, 2023, or any other period. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. As of June 30, 2023, substantially all of the Company’s cash and cash equivalents were invested in money market accounts with one financial institution. The Company also maintains balances in various operating accounts above federally insured limits. The Company has not experienced any significant losses on such accounts and does not believe it is exposed to any significant credit risk of its cash and cash equivalents. As of June 30, 2023 and December 31, 2022, no customer accounted for more than 10% of the Company’s accounts receivable. No customer accounted for more than 10% of the Company’s total revenue for the three and six months ended June 30, 2023 and 2022. Segment Reporting The Company’s Chief Operating Decision Maker (“CODM”), its Chief Executive Officer, reviews the Company’s financial information on a consolidated basis for purposes of allocating resources and evaluating its financial performance. Accordingly, the Company has determined that it operates as a single Use of Estimates The Company makes estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates, judgments, and assumptions. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. There have been no material changes to the Company’s use of estimates as described in the consolidated financial statements for the year ended December 31, 2022. ​ Operating Expenses – Other The Company classifies certain operating expenses that are not representative of the Company’s ongoing operations as other on the condensed consolidated statements of operations and comprehensive loss. These include costs related to the Company’s reduction in force, litigation, and legal settlements. To conform to current period presentation, $0.7 million and $0.9 million of general and administrative expenses related to litigation for the three and six months ended June 30, 2022, respectively, have been reclassified as other in the condensed consolidated statements of operations and comprehensive loss presented in this Quarterly Report on Form 10-Q. The following table summarizes the Company’s expenses classified as other in the condensed consolidated statements of operations and comprehensive loss (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2023 2022 2023 2022 Employment-related expenses ​ $ 261 ​ $ — ​ $ 3,879 ​ $ — Legal-related expenses ​ 1,911 ​ 692 ​ 4,726 ​ 942 Total other ​ $ 2,172 ​ $ 692 ​ $ 8,605 ​ $ 942 ​ See Note 12 “Reduction in Force” for additional information regarding the employment-related expenses classified as other in the condensed consolidated statements of operations and comprehensive loss. ​

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue Recognition
Revenue Recognition	Note 3. Revenue Recognition Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by product type and by geographical market. The Company believes that these categories aggregate the payor types by nature, amount, timing, and uncertainty of its revenue streams. The following table summarizes the Company’s disaggregated revenue (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pattern of ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ ​ Recognition ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ By product type: ​ ​ ​ ​ ​ Devices and accessories ​ Point-in-time ​ $ 12,273 ​ $ 13,429 ​ $ 21,121 ​ $ 24,443 ​ Software and other services ​ Over time ​ ​ 6,214 ​ ​ 5,786 ​ ​ 12,842 ​ ​ 10,346 ​ Total revenue ​ ​ ​ $ 18,487 ​ $ 19,215 ​ $ 33,963 ​ $ 34,789 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ By geographical market: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ $ 15,491 ​ $ 12,995 ​ $ 27,496 ​ $ 24,299 ​ International ​ ​ ​ ​ 2,996 ​ ​ 6,220 ​ ​ 6,467 ​ ​ 10,490 ​ Total revenue ​ ​ ​ $ 18,487 ​ $ 19,215 ​ $ 33,963 ​ $ 34,789 ​ ​ Contract Balances Contract balances represent amounts presented in the condensed consolidated balance sheets when the Company has either transferred goods or services to the customer or the customer has paid consideration to the Company under the contract. These contract balances include accounts receivable and deferred revenue. The Company recognizes a receivable when it has an unconditional right to payment, and payment terms are typically 60 days for sales on credit of product, software, and other services. The allowance for doubtful accounts was $0.6 million and $0.5 million as of June 30, 2023 and December 31, 2022, respectively. For the three months ended June 30, 2023 and 2022, the Company recognized $6.3 million and $5.3 million, respectively, of revenue that was included in the deferred revenue balance at the beginning of the period. For the six months ended June 30, 2023 and 2022, the Company recognized $11.3 million and $8.4 million, respectively, of revenue that was included in the deferred revenue balance at the beginning of the period. Transaction Price Allocated to Remaining Performance Obligations As of June 30, 2023 and December 31, 2022, the Company had $23.2 million and $23.9 million, respectively, of remaining performance obligations. As of June 30, 2023, the Company expects to recognize 69% of its remaining performance obligations as revenue in the next twelve months and an additional 31% thereafter ​

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 4. Fair Value of Financial Instruments Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. The Company measures fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The Company utilizes a three-tier hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: ● Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access. ● Level 2 — Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. ● Level 3 — Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company has no assets or liabilities valued with Level 3 inputs. The carrying values of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short-term or on-demand nature of these instruments. There were no transfers between fair value measurement levels during the periods ended June 30, 2023 and December 31, 2022. The Company’s outstanding warrants include publicly traded warrants (the “Public Warrants”) which were issued as one ​ The Company’s investments in marketable securities were ownership interests in mutual funds. The Company measured the equity securities using Level 1 fair value inputs based on the quoted prices in active markets for identical securities. As the securities had readily determinable fair value, unrealized gains and losses were reported as other income (expense), net on the consolidated statements of operations and comprehensive loss. Subsequent gains or losses realized upon redemption or sale of these securities were also recorded as other income (expense), net on the condensed consolidated statements of operations and comprehensive loss. The Company considered all of its investments in marketable securities as available for use in current operations and therefore classified these securities within current assets on the condensed consolidated balance sheets. ​ The Company measures its Public Warrants using Level 1 fair value inputs based on quoted prices in active markets for the Public Warrants. Because any transfer of Private Warrants from the initial holder of the Private Warrants would result in the Private Warrants having substantially the same terms as the Public Warrants, management determined that the fair value of each Private Warrant is the same as that of a Public Warrant. Accordingly, the Company measures its Private Warrants using Level 2 fair value inputs based on quoted prices in active markets for the Public Warrants. ​ The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Level ​ ​ Total ​ Level 1 ​ Level 2 ​ Level 3 June 30, 2023: ​ ​ ​ ​ Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 3,312 ​ $ 3,312 ​ $ — ​ $ — Private Warrants ​ ​ 1,645 ​ ​ — ​ ​ 1,645 ​ ​ — Total liabilities at fair value on a recurring basis ​ $ 4,957 ​ $ 3,312 ​ $ 1,645 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ Mutual funds ​ $ 75,250 ​ $ 75,250 ​ $ — ​ $ — Total assets at fair value on a recurring basis ​ $ 75,250 ​ $ 75,250 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 3,588 ​ $ 3,588 ​ $ — ​ $ — Private Warrants ​ ​ 1,782 ​ ​ — ​ ​ 1,782 ​ ​ — Total liabilities at fair value on a recurring basis ​ $ 5,370 ​ $ 3,588 ​ $ 1,782 ​ $ — ​

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventories
Inventories	Note 5. Inventories The following table summarizes the Company’s inventories (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2023 2022 Raw materials ​ $ 65,793 ​ 41,265 Work-in-progress ​ 3,589 ​ 1,962 Finished goods ​ 17,443 ​ 16,743 Total inventories ​ $ 86,825 ​ $ 59,970 ​ Work-in-progress represents inventory items in intermediate stages of production by third-party manufacturers. For the three and six months ended June 30, 2023, net realizable value inventory adjustments and excess and obsolete inventory charges were not significant and were recognized in product cost of revenue. See Note 13 “Commitments and Contingencies” for additional information regarding the Company’s inventory supply arrangements. ​

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2023
Property and Equipment, Net
Property and Equipment, Net	Note 6. Property and Equipment, Net The following table summarizes the Company’s property and equipment, net (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Property and equipment, gross ​ $ 44,526 ​ $ 42,385 Less: accumulated depreciation and amortization ​ (15,317) ​ (11,054) Property and equipment, net ​ $ 29,209 ​ $ 31,331 ​ As of June 30, 2023 and 2022, the Company excluded $0.2 million and $1.0 million, respectively, of accrued property and equipment from the cash used in investing activities on the condensed consolidated statements of cash flows. ​

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2023
Restricted Cash
Restricted Cash	Note 7. Restricted Cash The following table reconciles cash, cash equivalents, and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2023 2022 Reconciliation of cash, cash equivalents and restricted cash: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 166,806 ​ $ 310,802 Restricted cash included within prepaid expenses and other current assets ​ 380 ​ 2,941 Restricted cash included within other non-current assets ​ ​ 4,014 ​ ​ 4,000 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows ​ $ 171,200 ​ $ 317,743 ​ Restricted cash included within prepaid expenses and other current assets is restricted by an agreement with the Bill & Melinda Gates Foundation (“Gates Foundation”). The restriction on these funds lapses as the Company fulfills its obligations in the agreement. Restricted cash included within other non-current assets is to secure a letter of credit for one of our office leases and is expected to be maintained as a security deposit throughout the duration of the lease. ​

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities	Note 8. Accrued Expenses and Other Current Liabilities The following table summarizes the Company’s accrued expenses and other current liabilities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2023 2022 Employee compensation ​ $ 7,705 ​ $ 12,166 Customer deposits ​ 1,216 ​ 1,135 Accrued warranty liability ​ 290 ​ 287 Non-income tax ​ 1,048 ​ 1,442 Professional fees ​ 5,188 ​ 3,450 Current portion of operating lease liabilities ​ ​ 2,388 ​ ​ 1,926 Other ​ 5,362 ​ 5,710 Total accrued expenses and other current liabilities ​ $ 23,197 ​ $ 26,116 ​ The following table summarizes warranty expense activity (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ 2023 2022 2023 2022 Balance, beginning of period ​ $ 794 ​ $ 1,094 ​ $ 873 ​ $ 1,116 ​ Warranty provision charged to operations ​ (7) ​ 5 ​ (51) ​ 165 ​ Warranty claims ​ — ​ (124) ​ (35) ​ (306) ​ Balance, end of period ​ $ 787 ​ $ 975 ​ $ 787 ​ $ 975 ​ ​ The Company classifies its accrued warranty liability based on the timing of expected warranty activity. The future costs of expected activity greater than one year are recorded within other non-current liabilities on the condensed consolidated balance sheets. ​

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Jun. 30, 2023
Equity Incentive Plans
Equity Incentive Plans	Note 9. Equity Incentive Plans For the three and six months ended June 30, 2023, there were no significant changes to the Company’s 2012 Employee, Director and Consultant Equity Incentive Plan, as amended, (the “2012 Plan”) and the Company’s Amended and Restated 2020 Equity Incentive Plan (the “2020 Plan”). On January 1, 2023, pursuant to the terms of the 2020 Plan, the number of shares reserved for issuance was increased automatically by 4% of the number of outstanding shares of common stock as of January 1, 2023. Stock Option Activity The following table summarizes the changes in the Company’s outstanding stock options: ​ ​ ​ ​ ​ ​ Number of ​ ​ Options Outstanding at December 31, 2022 12,571,912 Granted — Exercised (124,660) Forfeited (3,184,956) Outstanding at June 30, 2023 9,262,296 ​ Generally, each award vests based on continued service per the award agreement. The grant date fair value of the award is recognized as stock-based compensation expense over the requisite service period. The grant date fair value was determined using similar methods and assumptions as those previously disclosed by the Company. ​ Restricted Stock Unit Activity The following table summarizes the changes in the Company’s outstanding restricted stock units (“RSUs”): ​ ​ ​ ​ ​ ​ Number of ​ ​ RSUs Outstanding at December 31, 2022 9,961,291 Granted 14,183,655 Vested (3,973,763) Forfeited (2,432,598) Outstanding at June 30, 2023 17,738,585 ​ Generally, each award vests based on continued service per the award agreement. The grant date fair value of the award is recognized as stock-based compensation expense over the requisite service period. The grant date fair value was determined based on the fair market value of the Company’s Class A common stock on the grant date. Included in the table above are market-based RSUs that include a service condition. The market-based conditions for these awards are objective metrics related to the Company’s stock price defined in the award agreement. The service condition for these awards is satisfied by providing service to the Company through the achievement date of the market-based conditions. The grant date fair value of the awards is recognized as stock-based compensation expense over the derived service period. The grant date fair value and derived service period were determined by using a Monte Carlo simulation with similar risk-free interest rate, expected dividend yield, and expected volatility assumptions as those used by the Company for determining the grant date fair value of its stock options. The following table summarizes the Company’s stock-based compensation expense (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2023 2022 2023 2022 Cost of revenue – software and other services ​ $ 4 ​ $ 33 ​ $ 15 ​ $ 42 Research and development ​ 3,193 ​ 3,595 ​ 5,376 ​ 6,374 Sales and marketing ​ ​ 1,316 ​ ​ 2,128 ​ 1,937 ​ 3,899 General and administrative ​ ​ 5,411 ​ ​ 3,529 ​ 6,781 ​ 7,700 Total stock-based compensation expense ​ $ 9,924 ​ $ 9,285 ​ $ 14,109 ​ $ 18,015 ​

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Net Loss Per Share
Net Loss Per Share	Note 10. Net Loss Per Share We compute net loss per share of Class A and Class B common stock using the two-class method. Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of each class of the Company’s common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of the Company’s common stock, including those presented in the table below, to the extent dilutive. Basic and diluted net loss per share were the same for each period presented as the inclusion of all potential shares of the Company’s common stock outstanding would have been anti-dilutive. ​ As the Company uses the two-class method required for companies with multiple classes of common stock, the following tables present the calculation of basic and diluted net loss per share for each class of the Company’s common stock outstanding (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (24,973) ​ $ (3,698) ​ $ (28,671) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (24,973) ​ $ (3,698) ​ $ (28,671) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 178,468,404 ​ 26,426,937 ​ 204,895,341 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 178,468,404 ​ 26,426,937 ​ 204,895,341 ​ Basic and diluted net loss per share ​ $ (0.14) ​ $ (0.14) ​ $ (0.14) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (31,056) ​ $ (4,745) ​ $ (35,801) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (31,056) ​ $ (4,745) ​ $ (35,801) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 172,972,419 ​ 26,426,937 ​ 199,399,356 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 172,972,419 ​ 26,426,937 ​ 199,399,356 ​ Basic and diluted net loss per share ​ $ (0.18) ​ $ (0.18) ​ $ (0.18) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (54,142) ​ $ (8,069) ​ $ (62,211) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (54,142) ​ $ (8,069) ​ $ (62,211) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 177,310,107 ​ 26,426,937 ​ 203,737,044 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 177,310,107 ​ 26,426,937 ​ 203,737,044 ​ Basic and diluted net loss per share ​ $ (0.31) ​ $ (0.31) ​ $ (0.31) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (69,628) ​ $ (10,650) ​ $ (80,278) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (69,628) ​ $ (10,650) ​ $ (80,278) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 172,773,972 ​ 26,426,937 ​ 199,200,909 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 172,773,972 ​ 26,426,937 ​ 199,200,909 ​ Basic and diluted net loss per share ​ $ (0.40) ​ $ (0.40) ​ $ (0.40) ​ ​ For the periods presented above, the net loss per share amounts are the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends or distributions in liquidation in accordance with the Certificate of Incorporation. The undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B common stock as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. The following table summarizes the Company’s anti-dilutive common equivalent shares: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2023 2022 Outstanding options to purchase common stock ​ 9,262,296 ​ 15,544,806 ​ Outstanding restricted stock units ​ 17,738,585 ​ 12,653,874 ​ Outstanding warrants ​ 20,652,690 ​ 20,652,737 ​ Total anti-dilutive common equivalent shares ​ 47,653,571 ​ 48,851,417 ​ ​

401(k) Retirement Plan

401(k) Retirement Plan	6 Months Ended
	Jun. 30, 2023
401(k) Retirement Plan
401(k) Retirement Plan	Note 11. 401(k) Retirement Plan The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. For the three months ended June 30, 2023 and 2022, expenses for matching 401(k) contributions were $0.2 million and $0.3 million, respectively. For the six months ended June 30, 2023 and 2022, expenses for matching 401(k) contributions were $0.5 million and $0.8 million, respectively. ​

Reductions in Force

Reductions in Force	6 Months Ended
	Jun. 30, 2023
Reductions in Force
Reductions in Force	Note 12. Reductions in Force In January 2023, the Company implemented a plan designed to improve the Company’s efficiency by reducing operating expenses and extending liquidity. In addition to decreasing other operating expenses, the plan included a reduction in force representing approximately 25% of the Company’s workforce. For the three and six months ended June 30, 2023, the Company incurred $0.3 million and $3.9 million, respectively, of employee severance and benefit costs related to the reduction in force. As of June 30, 2023, $0.2 million of accrued employee severance and benefit costs related to the reduction in force were included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. ​ During July 2023, the Company implemented an additional reduction in force as described in Note 14 “Subsequent Events”.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies.
Commitments and Contingencies	Note 13. Commitments and Contingencies Commitments Leases: The Company primarily enters into leases for office space that are classified as operating leases. Purchase Commitments: The Company enters into inventory purchase commitments with third-party manufacturers in the ordinary course of business, including a non-cancellable inventory supply agreement with a certain third-party manufacturing vendor. The provisions of the agreement allowed the Company, once it reached a certain cumulative purchase threshold in the fourth quarter of 2021, to pay for a portion of the subsequent inventory purchases using an advance previously paid to the vendor. As of June 30, 2023, the aggregate amount of minimum inventory purchase commitments is $27.3 million, and the Company has a vendor advance asset of $5.5 million, net of write-downs, and an accrued purchase commitment liability of $0.5 million related to the agreement. The portion of the balances that is expected to be utilized in the next 12 months is included in current assets and current liabilities in the accompanying condensed consolidated balance sheets. The Company applied the guidance in Topic 330, Inventory The Company reviews its inventory on hand, including inventory acquired under the purchase commitments, for excess and obsolescence (“E&O”) on a quarterly basis. Any E&O inventory acquired that was previously accounted for as a purchase commitment liability accrual or vendor advance write down is recorded at zero value. During the three months ended June 30, 2023, the Company did not acquire such E&O inventory. During the six months ended June 30, 2023, the Company utilized $1.6 million of the accrued purchase commitment liability and $4.5 million of the vendor advance that was previously written down to acquire such E&O inventory. During the three and six months ended June 30, 2022, the Company did not acquire such E&O inventory. Contingencies The Company is involved in litigation and legal matters from time to time, which have arisen in the normal course of business. Although the ultimate results of these matters are not currently determinable, management does not expect that they will have a material effect on the Company’s condensed consolidated balance sheets, statements of operations and comprehensive loss, or statements of cash flows. On February 16, 2022, a putative class action lawsuit, styled Rose v. Butterfly Network, Inc., et al. (Case No. 2:22-cv-00854) was filed in the United States District Court for the District of New Jersey against the Company, its then President and Chief Executive Officer, its then Chief Financial Officer, and the Chairman of its Board of Directors as well as Longview’s Chairman (who is a director of the Company), Chief Executive Officer, Chief Financial Officer, and members of Longview’s Board of Directors prior to the Business Combination, alleging violations of Sections 10(b), 14(a), and 20(a) of the Exchange Act and Rules 10b-5 and 14a-9 promulgated thereunder. On August 8, 2022, the Court appointed KNS Holdings LLC DBPP UA Jan. 1, 2016 as lead plaintiff and Levy & Korsinsky as lead counsel. On November 1, 2022, lead plaintiff, along with plaintiff Carl Metzgar, filed an Amended Class Action Complaint. In addition to alleging violations of Sections 10(b), 14(a), and 20(a) of the Exchange Act, plaintiff also alleges violations of Sections 11 and 15 of the Securities Act. The alleged class consists of all persons or entities who purchased or otherwise acquired the Company’s stock between January 12, 2021 and November 15, 2021, persons who exchanged Longview shares for the Company’s common stock, and persons who purchased Longview stock pursuant, or traceable to, the Proxy/Registration Statement filed with the SEC on November 27, 2020 or any amendment thereto. The lawsuit is premised upon allegations that the defendants made false and misleading statements and/or omissions about its post-Business Combination business and financial prospects. The Company intends to vigorously defend against this action. The lawsuit seeks unspecified damages, together with interest thereon, as well as the costs and expenses of litigation. There is no assurance that the Company will be successful in the defense of the litigation or that insurance will be available or adequate to fund any potential settlement or judgment or the litigation costs of the action. The Company is unable to predict the outcome or reasonably estimate a range of possible loss at this time. On March 9, 2022, Fujifilm Sonosite, Inc. (“Fujifilm”) filed a complaint against the Company, styled Fujifilm Sonosite, Inc. v. Butterfly Network, Inc. On June 21, 2022, a stockholder derivative action, styled Koenig v. Todd M. Fruchterman, et al. ​ The Company, as well as certain current and former directors and executive officers, is also involved in other legal matters for employment-related claims that have not been fully resolved and for which it is unable to predict the outcome. ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events
Subsequent Events	Note 14. Subsequent Events On July 11, 2023, the Company announced a plan approved by the Company’s Board of Directors that is designed to better align the Company’s commercial objectives and prioritization with its existing strengths and offerings. In addition to this strategic realignment, the plan includes a 25% reduction in the Company’s work force and other savings, which will reduce the Company’s cash use by an average of approximately $2 million per month and allow the Company to extend its cash resources. The Company estimates that it will incur around $5 million in cash charges related to employee severance and benefits costs, substantially all of which the Company expects to incur in the third and fourth quarters of 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and the accounting disclosure rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the 2022 Annual Report on Form 10-K. All intercompany balances and transactions are eliminated upon consolidation. The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited consolidated financial statements as of that date but does not include all disclosures, including certain notes, required by U.S. GAAP for annual reporting. Certain prior period amounts presented on the statement of operations and comprehensive loss for the three and six months ended June 30, 2022 have been reclassified to conform to the current period presentation. See the Operating Expenses – Other In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending December 31, 2023, or any other period.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. As of June 30, 2023, substantially all of the Company’s cash and cash equivalents were invested in money market accounts with one financial institution. The Company also maintains balances in various operating accounts above federally insured limits. The Company has not experienced any significant losses on such accounts and does not believe it is exposed to any significant credit risk of its cash and cash equivalents. As of June 30, 2023 and December 31, 2022, no customer accounted for more than 10% of the Company’s accounts receivable. No customer accounted for more than 10% of the Company’s total revenue for the three and six months ended June 30, 2023 and 2022.
Segment Reporting	Segment Reporting The Company’s Chief Operating Decision Maker (“CODM”), its Chief Executive Officer, reviews the Company’s financial information on a consolidated basis for purposes of allocating resources and evaluating its financial performance. Accordingly, the Company has determined that it operates as a single
Use of Estimates	Use of Estimates The Company makes estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates, judgments, and assumptions. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. There have been no material changes to the Company’s use of estimates as described in the consolidated financial statements for the year ended December 31, 2022.
Operating Expenses - Other	Operating Expenses – Other The Company classifies certain operating expenses that are not representative of the Company’s ongoing operations as other on the condensed consolidated statements of operations and comprehensive loss. These include costs related to the Company’s reduction in force, litigation, and legal settlements. To conform to current period presentation, $0.7 million and $0.9 million of general and administrative expenses related to litigation for the three and six months ended June 30, 2022, respectively, have been reclassified as other in the condensed consolidated statements of operations and comprehensive loss presented in this Quarterly Report on Form 10-Q. The following table summarizes the Company’s expenses classified as other in the condensed consolidated statements of operations and comprehensive loss (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2023 2022 2023 2022 Employment-related expenses ​ $ 261 ​ $ — ​ $ 3,879 ​ $ — Legal-related expenses ​ 1,911 ​ 692 ​ 4,726 ​ 942 Total other ​ $ 2,172 ​ $ 692 ​ $ 8,605 ​ $ 942 ​ See Note 12 “Reduction in Force” for additional information regarding the employment-related expenses classified as other in the condensed consolidated statements of operations and comprehensive loss.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies
Schedule of other expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2023 2022 2023 2022 Employment-related expenses ​ $ 261 ​ $ — ​ $ 3,879 ​ $ — Legal-related expenses ​ 1,911 ​ 692 ​ 4,726 ​ 942 Total other ​ $ 2,172 ​ $ 692 ​ $ 8,605 ​ $ 942

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue Recognition
Schedule of disaggregated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pattern of ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ ​ Recognition ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ By product type: ​ ​ ​ ​ ​ Devices and accessories ​ Point-in-time ​ $ 12,273 ​ $ 13,429 ​ $ 21,121 ​ $ 24,443 ​ Software and other services ​ Over time ​ ​ 6,214 ​ ​ 5,786 ​ ​ 12,842 ​ ​ 10,346 ​ Total revenue ​ ​ ​ $ 18,487 ​ $ 19,215 ​ $ 33,963 ​ $ 34,789 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ By geographical market: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ $ 15,491 ​ $ 12,995 ​ $ 27,496 ​ $ 24,299 ​ International ​ ​ ​ ​ 2,996 ​ ​ 6,220 ​ ​ 6,467 ​ ​ 10,490 ​ Total revenue ​ ​ ​ $ 18,487 ​ $ 19,215 ​ $ 33,963 ​ $ 34,789 ​

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value of Financial Instruments
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Level ​ ​ Total ​ Level 1 ​ Level 2 ​ Level 3 June 30, 2023: ​ ​ ​ ​ Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 3,312 ​ $ 3,312 ​ $ — ​ $ — Private Warrants ​ ​ 1,645 ​ ​ — ​ ​ 1,645 ​ ​ — Total liabilities at fair value on a recurring basis ​ $ 4,957 ​ $ 3,312 ​ $ 1,645 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ Mutual funds ​ $ 75,250 ​ $ 75,250 ​ $ — ​ $ — Total assets at fair value on a recurring basis ​ $ 75,250 ​ $ 75,250 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 3,588 ​ $ 3,588 ​ $ — ​ $ — Private Warrants ​ ​ 1,782 ​ ​ — ​ ​ 1,782 ​ ​ — Total liabilities at fair value on a recurring basis ​ $ 5,370 ​ $ 3,588 ​ $ 1,782 ​ $ —

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventories
Summary of inventories	The following table summarizes the Company’s inventories (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2023 2022 Raw materials ​ $ 65,793 ​ 41,265 Work-in-progress ​ 3,589 ​ 1,962 Finished goods ​ 17,443 ​ 16,743 Total inventories ​ $ 86,825 ​ $ 59,970

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Property and Equipment, Net
Schedule of property and equipment, net	The following table summarizes the Company’s property and equipment, net (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 Property and equipment, gross ​ $ 44,526 ​ $ 42,385 Less: accumulated depreciation and amortization ​ (15,317) ​ (11,054) Property and equipment, net ​ $ 29,209 ​ $ 31,331

Restricted Cash (Tables)

Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2023
Restricted Cash
Summary of reconciliation of cash, cash equivalents and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2023 2022 Reconciliation of cash, cash equivalents and restricted cash: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 166,806 ​ $ 310,802 Restricted cash included within prepaid expenses and other current assets ​ 380 ​ 2,941 Restricted cash included within other non-current assets ​ ​ 4,014 ​ ​ 4,000 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows ​ $ 171,200 ​ $ 317,743

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Accrued Expenses and Other Current Liabilities
Schedule of accrued expenses and other current liabilities	The following table summarizes the Company’s accrued expenses and other current liabilities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2023 2022 Employee compensation ​ $ 7,705 ​ $ 12,166 Customer deposits ​ 1,216 ​ 1,135 Accrued warranty liability ​ 290 ​ 287 Non-income tax ​ 1,048 ​ 1,442 Professional fees ​ 5,188 ​ 3,450 Current portion of operating lease liabilities ​ ​ 2,388 ​ ​ 1,926 Other ​ 5,362 ​ 5,710 Total accrued expenses and other current liabilities ​ $ 23,197 ​ $ 26,116
Schedule of warranty expense activity	The following table summarizes warranty expense activity (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ 2023 2022 2023 2022 Balance, beginning of period ​ $ 794 ​ $ 1,094 ​ $ 873 ​ $ 1,116 ​ Warranty provision charged to operations ​ (7) ​ 5 ​ (51) ​ 165 ​ Warranty claims ​ — ​ (124) ​ (35) ​ (306) ​ Balance, end of period ​ $ 787 ​ $ 975 ​ $ 787 ​ $ 975 ​

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Incentive Plans
Summary of the stock option activity	​ ​ ​ ​ ​ ​ Number of ​ ​ Options Outstanding at December 31, 2022 12,571,912 Granted — Exercised (124,660) Forfeited (3,184,956) Outstanding at June 30, 2023 9,262,296
Summary of the restricted stock unit activity	​ ​ ​ ​ ​ ​ Number of ​ ​ RSUs Outstanding at December 31, 2022 9,961,291 Granted 14,183,655 Vested (3,973,763) Forfeited (2,432,598) Outstanding at June 30, 2023 17,738,585
Schedule of stock-based compensation expense	The following table summarizes the Company’s stock-based compensation expense (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2023 2022 2023 2022 Cost of revenue – software and other services ​ $ 4 ​ $ 33 ​ $ 15 ​ $ 42 Research and development ​ 3,193 ​ 3,595 ​ 5,376 ​ 6,374 Sales and marketing ​ ​ 1,316 ​ ​ 2,128 ​ 1,937 ​ 3,899 General and administrative ​ ​ 5,411 ​ ​ 3,529 ​ 6,781 ​ 7,700 Total stock-based compensation expense ​ $ 9,924 ​ $ 9,285 ​ $ 14,109 ​ $ 18,015

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Net Loss Per Share
Schedule of calculation of basic and diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (24,973) ​ $ (3,698) ​ $ (28,671) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (24,973) ​ $ (3,698) ​ $ (28,671) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 178,468,404 ​ 26,426,937 ​ 204,895,341 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 178,468,404 ​ 26,426,937 ​ 204,895,341 ​ Basic and diluted net loss per share ​ $ (0.14) ​ $ (0.14) ​ $ (0.14) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (31,056) ​ $ (4,745) ​ $ (35,801) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (31,056) ​ $ (4,745) ​ $ (35,801) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 172,972,419 ​ 26,426,937 ​ 199,399,356 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 172,972,419 ​ 26,426,937 ​ 199,399,356 ​ Basic and diluted net loss per share ​ $ (0.18) ​ $ (0.18) ​ $ (0.18) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (54,142) ​ $ (8,069) ​ $ (62,211) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (54,142) ​ $ (8,069) ​ $ (62,211) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 177,310,107 ​ 26,426,937 ​ 203,737,044 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 177,310,107 ​ 26,426,937 ​ 203,737,044 ​ Basic and diluted net loss per share ​ $ (0.31) ​ $ (0.31) ​ $ (0.31) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (69,628) ​ $ (10,650) ​ $ (80,278) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (69,628) ​ $ (10,650) ​ $ (80,278) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 172,773,972 ​ 26,426,937 ​ 199,200,909 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 172,773,972 ​ 26,426,937 ​ 199,200,909 ​ Basic and diluted net loss per share ​ $ (0.40) ​ $ (0.40) ​ $ (0.40) ​
Schedule of anti-dilutive common equivalent shares	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2023 2022 Outstanding options to purchase common stock ​ 9,262,296 ​ 15,544,806 ​ Outstanding restricted stock units ​ 17,738,585 ​ 12,653,874 ​ Outstanding warrants ​ 20,652,690 ​ 20,652,737 ​ Total anti-dilutive common equivalent shares ​ 47,653,571 ​ 48,851,417 ​

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 segment
Summary of Significant Accounting Policies
Number of operating segments	1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Operating Expenses - Other (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
General and administrative	$ 14,660	$ 18,677	$ 25,678	$ 37,477
Total other	2,172	692	8,605	942
Employee Severance
Employment-related expenses	261		3,879
Legal-related expenses	1,911	692	4,726	942
Total other	$ 2,172	692	$ 8,605	942
Prior period reclassification
General and administrative		$ 700		$ 900

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue Recognition
Total revenue	$ 18,487	$ 19,215	$ 33,963	$ 34,789
United States
Revenue Recognition
Total revenue	15,491	12,995	27,496	24,299
International
Revenue Recognition
Total revenue	2,996	6,220	6,467	10,490
Devices and accessories
Revenue Recognition
Total revenue	12,273	13,429	21,121	24,443
Software and other services
Revenue Recognition
Total revenue	$ 6,214	$ 5,786	$ 12,842	$ 10,346

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue Recognition
Payment terms			60 days
Allowance for doubtful accounts	$ 0.6		$ 0.6		$ 0.5
Amount of revenue recognized	$ 6.3	$ 5.3	$ 11.3	$ 8.4

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Revenue Recognition
Remaining performance obligations	$ 23.2	$ 23.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue Recognition
Percentage of remaining performance obligations as revenue	69%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue Recognition
Percentage of remaining performance obligations as revenue	31%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Total assets at fair value on a recurring basis		$ 75,250
Liabilities
Total liabilities at fair value on a recurring basis	$ 4,957	5,370
Public Warrants
Liabilities
Warrants	3,312	3,588
Private Warrants
Liabilities
Warrants	1,645	1,782
Mutual funds
Assets
Mutual funds		75,250
Level 1
Assets
Total assets at fair value on a recurring basis		75,250
Liabilities
Total liabilities at fair value on a recurring basis	3,312	3,588
Level 1 | Public Warrants
Liabilities
Warrants	3,312	3,588
Level 1 | Mutual funds
Assets
Mutual funds		75,250
Level 2
Liabilities
Total liabilities at fair value on a recurring basis	1,645	1,782
Level 2 | Private Warrants
Liabilities
Warrants	$ 1,645	$ 1,782

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of public warrants per warrant issued during IPO (as a percent)	33%
Outstanding warrants	13,799,357
Private Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding warrants	6,853,333
Class A Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares called by warrants	1
Exercise price | $ / shares	$ 11.50

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventories
Raw materials	$ 65,793	$ 41,265
Work-in-progress	3,589	1,962
Finished goods	17,443	16,743
Total inventories	$ 86,825	$ 59,970

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property and Equipment, Net
Property and equipment, gross	$ 44,526		$ 42,385
Less: accumulated depreciation and amortization	(15,317)		(11,054)
Property and equipment, net	29,209		$ 31,331
Accrued property and equipment	200	$ 1,000
Depreciation and amortization	$ 4,305	$ 2,190

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$ 166,806	$ 162,561	$ 310,802
Restricted cash included within prepaid expenses and other current assets	380		2,941
Restricted cash included within other non-current assets	4,014		4,000
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$ 171,200	$ 166,828	$ 317,743	$ 426,841
Restricted Cash and Cash Equivalents, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accrued Expenses and Other Current Liabilities
Employee compensation	$ 7,705	$ 12,166
Customer deposits	1,216	1,135
Accrued warranty liability	290	287
Non-income tax	1,048	1,442
Professional fees	5,188	3,450
Current portion of operating lease liabilities	$ 2,388	$ 1,926
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities
Other	$ 5,362	$ 5,710
Total accrued expenses and other current liabilities	$ 23,197	$ 26,116

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities - Warranty expense activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accrued Expenses and Other Current Liabilities
Balance, beginning of period	$ 794	$ 1,094	$ 873	$ 1,116
Warranty provision charged to operations	(7)	5	(51)	165
Warranty claims		(124)	(35)	(306)
Balance, end of period	$ 787	$ 975	$ 787	$ 975

Equity Incentive Plans (Details

Equity Incentive Plans (Details)	Jan. 01, 2023
Equity Incentive Plans
Percentage increase in equity awards authorized to be issued	4%

Equity Incentive Plans - Stock

Equity Incentive Plans - Stock option activity (Details) - Stock options	6 Months Ended
	Jun. 30, 2023 shares
Number of Options
Outstanding at beginning of the period	12,571,912
Exercised	(124,660)
Forfeited	(3,184,956)
Outstanding at end of the period	9,262,296

Equity Incentive Plans - Restri

Equity Incentive Plans - Restricted stock unit activity (Details) - Restricted stock units	6 Months Ended
	Jun. 30, 2023 shares
Number of Restricted Stock Units
Outstanding at beginning of the period	9,961,291
Granted	14,183,655
Vested	(3,973,763)
Forfeited	(2,432,598)
Outstanding at end of the period	17,738,585

Equity Incentive Plans - Stock-

Equity Incentive Plans - Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Equity Incentive Plan
Total stock-based compensation expense	$ 9,924	$ 9,285	$ 14,109	$ 18,015
Cost of revenue - software and other services
Equity Incentive Plan
Total stock-based compensation expense	4	33	15	42
Research and development
Equity Incentive Plan
Total stock-based compensation expense	3,193	3,595	5,376	6,374
Sales and marketing
Equity Incentive Plan
Total stock-based compensation expense	1,316	2,128	1,937	3,899
General and administrative
Equity Incentive Plan
Total stock-based compensation expense	$ 5,411	$ 3,529	$ 6,781	$ 7,700

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Allocation of undistributed earnings	$ (28,671)	$ (35,801)	$ (62,211)	$ (80,278)
Numerator for basic and diluted net loss per share - loss available to common stockholders	$ (28,671)	$ (35,801)	$ (62,211)	$ (80,278)
Denominator:
Weighted-average common shares outstanding - basic	204,895,341	199,399,356	203,737,044	199,200,909
Weighted-average common shares outstanding - diluted	204,895,341	199,399,356	203,737,044	199,200,909
Basic loss per share	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Diluted loss per share	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Class A Common Stock
Numerator:
Allocation of undistributed earnings	$ (24,973)	$ (31,056)	$ (54,142)	$ (69,628)
Numerator for basic and diluted net loss per share - loss available to common stockholders	$ (24,973)	$ (31,056)	$ (54,142)	$ (69,628)
Denominator:
Weighted-average common shares outstanding - basic	178,468,404	172,972,419	177,310,107	172,773,972
Weighted-average common shares outstanding - diluted	178,468,404	172,972,419	177,310,107	172,773,972
Basic loss per share	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Diluted loss per share	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Class B Common Stock
Numerator:
Allocation of undistributed earnings	$ (3,698)	$ (4,745)	$ (8,069)	$ (10,650)
Numerator for basic and diluted net loss per share - loss available to common stockholders	$ (3,698)	$ (4,745)	$ (8,069)	$ (10,650)
Denominator:
Weighted-average common shares outstanding - basic	26,426,937	26,426,937	26,426,937	26,426,937
Weighted-average common shares outstanding - diluted	26,426,937	26,426,937	26,426,937	26,426,937
Basic loss per share	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)
Diluted loss per share	$ (0.14)	$ (0.18)	$ (0.31)	$ (0.40)

Net Loss Per Share - Anti-dilut

Net Loss Per Share - Anti-dilutive common equivalent shares (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Net Loss Per Share
Total anti-dilutive common equivalent shares	47,653,571	48,851,417
Stock options
Net Loss Per Share
Total anti-dilutive common equivalent shares	9,262,296	15,544,806
Restricted stock units
Net Loss Per Share
Total anti-dilutive common equivalent shares	17,738,585	12,653,874
Outstanding warrants
Net Loss Per Share
Total anti-dilutive common equivalent shares	20,652,690	20,652,737

401(k) Retirement Plan (Details

401(k) Retirement Plan (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
401(k) Retirement Plan
401(k) Employer match contribution	$ 0.2	$ 0.3	$ 0.5	$ 0.8

Reductions in Force (Details)

Reductions in Force (Details) - Employee Severance - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Reduction in force (as a percent)	25%
Employee severance and benefits costs		$ 261	$ 3,879
Employee severance and benefits accrual		$ 200	$ 200

Commitments and Contingencies (

Commitments and Contingencies (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
Commitments and Contingencies
Operating lease cost	$ 1,000	$ 1,100	$ 2,000	$ 2,300
Accrued purchase commitments, current	531		531		$ 2,146
Inventory purchase commitments
Commitments and Contingencies
Minimum inventory purchase commitments			27,300
Prepaid vendor advance, net of write-downs	5,500		5,500
Accrued purchase commitments, current	$ 500		500
Utilization of accrual of purchase commitment liability			1,600
Utilization of vendor advance previously written down			$ 4,500

Subsequent Events (Details)

Subsequent Events (Details) - Employee Severance - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended
	Jul. 11, 2023	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2023
Subsequent Events
Reduction in force (as a percent)		25%
Employee severance and benefits costs			$ 261	$ 3,879
Subsequent event
Subsequent Events
Reduction in force (as a percent)	25%
Reduction in cash usage per month	$ 2,000
Employee severance and benefits costs	$ 5,000