Butterfly Network (BFLY) 10-Q 6 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 27, 2023
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 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	Q3
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		180,696,581
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	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 150,006	$ 162,561
Marketable securities		75,250
Accounts receivable, net	13,646	14,685
Inventories	94,016	59,970
Current portion of vendor advances	2,728	35,182
Prepaid expenses and other current assets	8,189	9,489
Total current assets	268,585	357,137
Property and equipment, net	26,362	31,331
Non-current portion of vendor advances	16,808
Operating lease assets	16,016	21,567
Other non-current assets	6,451	7,535
Total assets	334,222	417,570
Current liabilities:
Accounts payable	8,097	7,211
Deferred revenue, current	15,117	15,856
Accrued purchase commitments, current	212	2,146
Accrued expenses and other current liabilities	21,933	26,116
Total current liabilities	45,359	51,329
Deferred revenue, non-current	5,273	4,957
Warrant liabilities	1,446	5,370
Operating lease liabilities	23,409	29,966
Other non-current liabilities	1,316	588
Total liabilities	76,803	92,210
Commitments and contingencies (Note 13)
Stockholders' equity:
Additional paid-in capital	942,915	921,278
Accumulated deficit	(685,517)	(595,938)
Total stockholders' equity	257,419	325,360
Total liabilities and stockholders' equity	334,222	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	Sep. 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	180,633,155	174,459,956
Common stock, shares outstanding (in shares)	180,633,155	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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Total revenue	$ 15,421	$ 19,618	$ 49,384	$ 54,407
Cost of revenue:
Total cost of revenue	6,039	8,629	19,991	24,503
Gross profit	9,382	10,989	29,393	29,904
Operating expenses:
Research and development	12,130	22,040	44,409	68,883
Sales and marketing	9,012	15,481	28,776	47,121
General and administrative	11,560	16,603	37,239	54,080
Other	9,243	2,897	17,848	3,838
Total operating expenses	41,945	57,021	128,272	173,922
Loss from operations	(32,563)	(46,032)	(98,879)	(144,018)
Interest income	1,903	1,304	5,714	1,574
Interest expense		(2)		(2)
Change in fair value of warrant liabilities	3,511	(9,087)	3,924	8,881
Other income (expense), net	(217)	(898)	(256)	(1,387)
Loss before provision for income taxes	(27,366)	(54,715)	(89,497)	(134,952)
Provision for income taxes	2	27	82	68
Net loss and comprehensive loss	$ (27,368)	$ (54,742)	$ (89,579)	$ (135,020)
Net loss per common share - basic	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Net loss per common share - diluted	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Weighted-average common shares outstanding - basic	206,740,234	200,172,683	204,749,108	199,528,394
Weighted-average common shares outstanding - diluted	206,740,234	200,172,683	204,749,108	199,528,394
Product
Revenue:
Total revenue	$ 8,753	$ 13,164	$ 29,874	$ 37,607
Cost of revenue:
Total cost of revenue	3,929	6,534	13,765	19,481
Software and other services
Revenue:
Total revenue	6,668	6,454	19,510	16,800
Cost of revenue:
Total cost of revenue	$ 2,110	$ 2,095	$ 6,226	$ 5,022

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				(135,020)			(135,020)
Common stock issued upon exercise of stock options and warrants			2,844				2,844
Common stock issued upon exercise of stock options and warrants (in shares)	1,035,574
Common stock issued upon vesting of restricted stock units			(106)				(106)
Common stock issued upon vesting of restricted stock units (in shares)	1,425,979
Stock-based compensation expense			28,228				28,228
Balance at end of the period at Sep. 30, 2022	$ 17	$ 3	905,852	(562,235)			343,637
Balance at end of the period (in shares) at Sep. 30, 2022	174,074,602	26,426,937
Balance at beginning of the period at Jun. 30, 2022	$ 17	$ 3	894,162	(507,493)			386,689
Balance at beginning of the period (in shares) at Jun. 30, 2022	172,816,532	26,426,937
Increase (Decrease) in Stockholders' Equity
Net loss				(54,742)			(54,742)
Common stock issued upon exercise of stock options and warrants			2,034				2,034
Common stock issued upon exercise of stock options and warrants (in shares)	691,907
Common stock issued upon vesting of restricted stock units (in shares)	566,163
Stock-based compensation expense			9,656				9,656
Balance at end of the period at Sep. 30, 2022	$ 17	$ 3	905,852	(562,235)			343,637
Balance at end of the period (in shares) at Sep. 30, 2022	174,074,602	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				(89,579)			(89,579)
Common stock issued upon exercise of stock options and warrants			228				228
Common stock issued upon exercise of stock options and warrants (in shares)	180,467
Common stock issued upon vesting of restricted stock units	$ 1						1
Common stock issued upon vesting of restricted stock units (in shares)	5,992,732
Stock-based compensation expense			21,409				21,409
Balance at end of the period at Sep. 30, 2023	$ 18	$ 3	942,915	(685,517)			257,419
Balance at end of the period (in shares) at Sep. 30, 2023	180,633,155	26,426,937			180,633,155	26,426,937
Balance at beginning of the period at Jun. 30, 2023	$ 18	$ 3	935,833	(658,149)			277,705
Balance at beginning of the period (in shares) at Jun. 30, 2023	179,720,918	26,426,937
Increase (Decrease) in Stockholders' Equity
Net loss				(27,368)			(27,368)
Common stock issued upon exercise of stock options and warrants			92				92
Common stock issued upon exercise of stock options and warrants (in shares)	55,807
Common stock issued upon vesting of restricted stock units (in shares)	856,430
Stock-based compensation expense			6,990				6,990
Balance at end of the period at Sep. 30, 2023	$ 18	$ 3	$ 942,915	$ (685,517)			$ 257,419
Balance at end of the period (in shares) at Sep. 30, 2023	180,633,155	26,426,937			180,633,155	26,426,937

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (89,579)	$ (135,020)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization, and impairments	8,332	4,066
Stock-based compensation expense	20,924	27,428
Change in fair value of warrant liabilities	(3,924)	(8,881)
Gain on lease termination	(214)
Other	(478)	750
Changes in operating assets and liabilities:
Accounts receivable	711	(39)
Inventories	(34,046)	(21,421)
Prepaid expenses and other assets	2,354	(498)
Vendor advances	15,646	9,555
Accounts payable	1,092	(3,121)
Deferred revenue	(423)	971
Accrued purchase commitments	(1,934)	(15,578)
Change in operating lease assets and liabilities	(671)	1,772
Accrued expenses and other liabilities	(3,509)	(240)
Net cash used in operating activities	(85,719)	(140,256)
Cash flows from investing activities:
Purchases of marketable securities	(297)	(75,118)
Sales of marketable securities	76,484
Purchases of property and equipment, including capitalized software	(3,271)	(16,180)
Sales of property and equipment	10
Net cash provided by (used in) investing activities	72,926	(91,298)
Cash flows from financing activities:
Proceeds from exercise of stock options and warrants	228	2,844
Other financing activities	0	(100)
Net cash provided by financing activities	228	2,744
Net decrease in cash, cash equivalents, and restricted cash	(12,565)	(228,810)
Cash, cash equivalents, and restricted cash, beginning of period	166,828	426,841
Cash, cash equivalents, and restricted cash, end of period	$ 154,263	$ 198,031

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 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 nine months ended September 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 September 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 September 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 nine months ended September 30, 2023. One customer accounted for more than 10% of the Company’s total revenue for the three months ended September 30, 2022, and no customer accounted for more than 10% of the Company’s total revenue for the nine months ended September 30, 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 reductions in force, litigation, and legal settlements. To conform to current period presentation of the condensed consolidated statements of operations and comprehensive loss, the Company reclassified certain expenses presented as research and development, sales and marketing, and general and administrative in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 as other in this Quarterly Report on Form 10-Q. The following table summarizes the Company’s operating expenses reclassified as other from research and development, sales and marketing, and general and administrative (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ September 30, 2022 September 30, 2022 Reclassified from: ​ ​ ​ ​ ​ ​ Research and development ​ $ 1,114 ​ $ 1,114 Sales and marketing ​ ​ 330 ​ ​ 330 General and administrative ​ 1,453 ​ 2,394 Total reclassified as other ​ $ 2,897 ​ $ 3,838 ​ The following table summarizes the types of expenses classified as other in the Company’s condensed consolidated statements of operations and comprehensive loss (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2023 2022 2023 2022 Employment-related expenses ​ $ 4,755 ​ $ 1,860 ​ $ 8,634 ​ $ 1,860 Legal-related expenses ​ 4,488 ​ 1,037 ​ 9,214 ​ 1,978 Total other ​ $ 9,243 ​ $ 2,897 ​ $ 17,848 ​ $ 3,838 ​ See Note 12 “Reductions 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	9 Months Ended
	Sep. 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 September 30, ​ Nine months ended September 30, ​ ​ ​ Recognition ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ By product type: ​ ​ ​ ​ ​ Devices and accessories ​ Point-in-time ​ $ 8,753 ​ $ 13,164 ​ $ 29,874 ​ $ 37,607 ​ Software and other services ​ Over time ​ ​ 6,668 ​ ​ 6,454 ​ ​ 19,510 ​ ​ 16,800 ​ Total revenue ​ ​ ​ $ 15,421 ​ $ 19,618 ​ $ 49,384 ​ $ 54,407 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ By geographical market: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ $ 12,230 ​ $ 13,582 ​ $ 39,726 ​ $ 37,881 ​ International ​ ​ ​ ​ 3,191 ​ ​ 6,036 ​ ​ 9,658 ​ ​ 16,526 ​ Total revenue ​ ​ ​ $ 15,421 ​ $ 19,618 ​ $ 49,384 ​ $ 54,407 ​ ​ 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 $0.7 million and $0.5 million as of September 30, 2023 and December 31, 2022, respectively. For the three months ended September 30, 2023 and 2022, the Company recognized $6.7 million and $5.1 million, respectively, of revenue that was included in the deferred revenue balance at the beginning of the period. For the nine months ended September 30, 2023 and 2022, the Company recognized $15.2 million and $11.2 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 September 30, 2023 and December 31, 2022, the Company had $32.0 million and $23.9 million, respectively, of remaining performance obligations. As of September 30, 2023, the Company expects to recognize 55% of its remaining performance obligations as revenue in the next twelve months and an additional 45% thereafter

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 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 September 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 did not hold any equity securities as of September 30, 2023. For the three and nine months ended September 30, 2022, the Company recognized $0.6 million of unrealized losses related to equity securities still held as of September 30, 2022. ​ 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 September 30, 2023: ​ ​ ​ ​ Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 966 ​ $ 966 ​ $ — ​ $ — Private Warrants ​ ​ 480 ​ ​ — ​ ​ 480 ​ ​ — Total liabilities at fair value on a recurring basis ​ $ 1,446 ​ $ 966 ​ $ 480 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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	9 Months Ended
	Sep. 30, 2023
Inventories
Inventories	Note 5. Inventories The following table summarizes the Company’s inventories (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ 2023 2022 Raw materials ​ $ 72,256 ​ 41,265 Work-in-progress ​ 905 ​ 1,962 Finished goods ​ 20,855 ​ 16,743 Total inventories ​ $ 94,016 ​ $ 59,970 ​ Work-in-progress represents inventory items in intermediate stages of production by third-party manufacturers. For the three and nine months ended September 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	9 Months Ended
	Sep. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2023 2022 Property and equipment, gross ​ $ 42,947 ​ $ 42,385 Less: accumulated depreciation and amortization ​ (16,585) ​ (11,054) Property and equipment, net ​ $ 26,362 ​ $ 31,331 ​ As of September 30, 2023 and 2022, the Company excluded $0.2 million and $0.8 million, respectively, of accrued property and equipment from the cash used in investing activities on the condensed consolidated statements of cash flows. ​ The Company fully impaired its leasehold improvements related to a lease that was terminated during the third quarter of 2023. The Company recognized an impairment loss of $1.8 million for the three and nine months ended September 30, 2023 in operating expenses on the condensed consolidated statements of operations and comprehensive loss. See Note 13, “Commitments and Contingencies” for further discussion of the terminated lease. ​

Restricted Cash

Restricted Cash	9 Months Ended
	Sep. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ 2023 2022 Reconciliation of cash, cash equivalents and restricted cash: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 150,006 ​ $ 193,313 Restricted cash included within prepaid expenses and other current assets ​ 243 ​ 704 Restricted cash included within other non-current assets ​ ​ 4,014 ​ ​ 4,014 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows ​ $ 154,263 ​ $ 198,031 ​ 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 held as collateral 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	9 Months Ended
	Sep. 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): ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ 2023 2022 Employee compensation ​ $ 9,202 ​ $ 12,166 Customer deposits ​ 1,281 ​ 1,135 Accrued warranty liability ​ 269 ​ 287 Non-income tax ​ 1,042 ​ 1,442 Professional fees ​ 2,523 ​ 3,450 Current portion of operating lease liabilities ​ ​ 1,923 ​ ​ 1,926 Estimated liability for legal contingencies ​ ​ 1,630 ​ ​ — Other ​ 4,063 ​ 5,710 Total accrued expenses and other current liabilities ​ $ 21,933 ​ $ 26,116 ​ The following table summarizes warranty expense activity (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 2023 2022 Balance, beginning of period ​ $ 787 ​ $ 975 ​ $ 873 ​ $ 1,116 ​ Warranty provision charged to operations ​ 227 ​ 76 ​ 176 ​ 241 ​ Warranty claims ​ (293) ​ (135) ​ (328) ​ (441) ​ Balance, end of period ​ $ 721 ​ $ 916 ​ $ 721 ​ $ 916 ​ ​ 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	9 Months Ended
	Sep. 30, 2023
Equity Incentive Plans
Equity Incentive Plans	Note 9. Equity Incentive Plans For the three and nine months ended September 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 (180,467) Forfeited (3,797,376) Outstanding at September 30, 2023 8,594,069 ​ 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 15,563,473 Vested (4,830,193) Forfeited (4,721,808) Outstanding at September 30, 2023 15,972,763 ​ 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 September 30, ​ Nine months ended September 30, ​ 2023 2022 2023 2022 Research and development ​ $ 2,158 ​ $ 3,180 ​ $ 7,549 ​ $ 9,596 Sales and marketing ​ ​ 1,109 ​ ​ 2,021 ​ 3,046 ​ 5,920 General and administrative ​ ​ 3,548 ​ ​ 4,212 ​ 10,329 ​ 11,912 Total stock-based compensation expense ​ $ 6,815 ​ $ 9,413 ​ $ 20,924 ​ $ 27,428 ​ Prior period stock-based compensation expense that was classified as cost of revenue is now included in research and development due to the amounts being insignificant.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 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 September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (23,870) ​ $ (3,498) ​ $ (27,368) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (23,870) ​ $ (3,498) ​ $ (27,368) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 180,313,297 ​ 26,426,937 ​ 206,740,234 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 180,313,297 ​ 26,426,937 ​ 206,740,234 ​ Basic and diluted net loss per share ​ $ (0.13) ​ $ (0.13) ​ $ (0.13) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (47,515) ​ $ (7,227) ​ $ (54,742) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (47,515) ​ $ (7,227) ​ $ (54,742) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 173,745,746 ​ 26,426,937 ​ 200,172,683 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 173,745,746 ​ 26,426,937 ​ 200,172,683 ​ Basic and diluted net loss per share ​ $ (0.27) ​ $ (0.27) ​ $ (0.27) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (78,017) ​ $ (11,562) ​ $ (89,579) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (78,017) ​ $ (11,562) ​ $ (89,579) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 178,322,171 ​ 26,426,937 ​ 204,749,108 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 178,322,171 ​ 26,426,937 ​ 204,749,108 ​ Basic and diluted net loss per share ​ $ (0.44) ​ $ (0.44) ​ $ (0.44) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (117,137) ​ $ (17,883) ​ $ (135,020) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (117,137) ​ $ (17,883) ​ $ (135,020) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 173,101,457 ​ 26,426,937 ​ 199,528,394 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 173,101,457 ​ 26,426,937 ​ 199,528,394 ​ Basic and diluted net loss per share ​ $ (0.68) ​ $ (0.68) ​ $ (0.68) ​ ​ 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ 2023 2022 Outstanding options to purchase common stock ​ 8,594,069 ​ 13,740,728 ​ Outstanding restricted stock units ​ 15,972,763 ​ 11,578,865 ​ Outstanding warrants ​ 20,652,690 ​ 20,652,690 ​ Total anti-dilutive common equivalent shares ​ 45,219,522 ​ 45,972,283 ​ ​

401(k) Retirement Plan

401(k) Retirement Plan	9 Months Ended
	Sep. 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 September 30, 2023 and 2022, expenses for matching 401(k) contributions were $0.2 million and $0.3 million, respectively. For the nine months ended September 30, 2023 and 2022, expenses for matching 401(k) contributions were $0.6 million and $1.1 million, respectively. ​

Reductions in Force

Reductions in Force	9 Months Ended
	Sep. 30, 2023
Reductions in Force
Reductions in Force	Note 12. Reductions in Force During 2022 and 2023, the Company implemented plans designed to better align the Company’s commercial objectives and prioritization with its existing strengths and offerings as well as improve the Company’s efficiency by reducing operating expenses and extending liquidity. In addition to decreasing other operating expenses, these plans included reductions in force announced in July 2022, January 2023, and July 2023 representing approximately 10%, 25%, and 25% of the Company’s workforce at each announcement date, respectively. For the three months ended September 30, 2023 and 2022, the Company incurred $4.8 million and $1.9 million, respectively, of employee severance and benefit costs related to the reductions in force. For the nine months ended September 30, 2023 and 2022, the Company incurred $8.6 million and $1.9 million, respectively, of employee severance and benefit costs related to the reductions in force. As of September 30, 2023, $2.2 million of accrued employee severance and benefit costs related to the reductions in force were included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. As of December 31, 2022, the amount of accrued employee severance and benefit costs related to the reductions in force included in accrued expenses and other current liabilities on the condensed consolidated balance sheets was not significant.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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. The Company terminated one of its operating leases for office space and modified another during the third quarter of 2023 that increased its lease payments by $0.2 million. The Company recognized a total decrease of $4.2 million to operating lease assets, $0.7 million to the current portion of operating lease liabilities included in accrued expenses and other current liabilities, and $4.7 million to the non-current portion of operating lease liabilities on the condensed consolidated balance sheets for the lease termination and lease modification. As part of the lease termination, the Company agreed to forfeit a $0.9 million security deposit included in other non-current assets on the condensed consolidated balance sheets. The Company recognized a $0.2 million gain on lease termination within operating expenses on the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2023. 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 September 30, 2023, the aggregate amount of minimum inventory purchase commitments is $22.4 million, and the Company has a vendor advance asset of $2.2 million, net of write-downs, and an accrued purchase commitment liability of $0.2 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 September 30, 2023, the Company did not acquire such E&O inventory. During the three months ended September 30, 2023, the Company utilized $0.3 million of the accrued purchase commitment liability and $0.3 million of the vendor advance that was previously written down to acquire such E&O inventory. During the nine months ended September 30, 2023, the Company utilized $1.9 million of the accrued purchase commitment liability and $4.8 million of the vendor advance that was previously written down to acquire such E&O inventory. During the three and nine months ended September 30, 2022, the Company utilized $15.6 million of the accrued purchase commitment liability and $7.6 million of the vendor advance that was previously written down to 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. The Company accrues an estimated liability for legal contingencies when the Company considers a potential loss probable and can reasonably estimate the amount of the potential loss. 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 and was amended on November 1, 2022. The claims are against the Company and certain of its directors and previous management as well as Longview and member of its then board of directors, alleging that the defendants made false and misleading statements and/or omissions about its post-Business Combination business and financial prospects. 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 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. ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 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 nine months ended September 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 September 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 September 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 nine months ended September 30, 2023. One customer accounted for more than 10% of the Company’s total revenue for the three months ended September 30, 2022, and no customer accounted for more than 10% of the Company’s total revenue for the nine months ended September 30, 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 reductions in force, litigation, and legal settlements. To conform to current period presentation of the condensed consolidated statements of operations and comprehensive loss, the Company reclassified certain expenses presented as research and development, sales and marketing, and general and administrative in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 as other in this Quarterly Report on Form 10-Q. The following table summarizes the Company’s operating expenses reclassified as other from research and development, sales and marketing, and general and administrative (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ September 30, 2022 September 30, 2022 Reclassified from: ​ ​ ​ ​ ​ ​ Research and development ​ $ 1,114 ​ $ 1,114 Sales and marketing ​ ​ 330 ​ ​ 330 General and administrative ​ 1,453 ​ 2,394 Total reclassified as other ​ $ 2,897 ​ $ 3,838 ​ The following table summarizes the types of expenses classified as other in the Company’s condensed consolidated statements of operations and comprehensive loss (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2023 2022 2023 2022 Employment-related expenses ​ $ 4,755 ​ $ 1,860 ​ $ 8,634 ​ $ 1,860 Legal-related expenses ​ 4,488 ​ 1,037 ​ 9,214 ​ 1,978 Total other ​ $ 9,243 ​ $ 2,897 ​ $ 17,848 ​ $ 3,838 ​ See Note 12 “Reductions 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)	9 Months Ended
	Sep. 30, 2023
Summary of Significant Accounting Policies
Schedule of operating expenses reclassified as other	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ September 30, 2022 September 30, 2022 Reclassified from: ​ ​ ​ ​ ​ ​ Research and development ​ $ 1,114 ​ $ 1,114 Sales and marketing ​ ​ 330 ​ ​ 330 General and administrative ​ 1,453 ​ 2,394 Total reclassified as other ​ $ 2,897 ​ $ 3,838
Schedule of other expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2023 2022 2023 2022 Employment-related expenses ​ $ 4,755 ​ $ 1,860 ​ $ 8,634 ​ $ 1,860 Legal-related expenses ​ 4,488 ​ 1,037 ​ 9,214 ​ 1,978 Total other ​ $ 9,243 ​ $ 2,897 ​ $ 17,848 ​ $ 3,838

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue Recognition
Schedule of disaggregated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pattern of ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ Recognition ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ By product type: ​ ​ ​ ​ ​ Devices and accessories ​ Point-in-time ​ $ 8,753 ​ $ 13,164 ​ $ 29,874 ​ $ 37,607 ​ Software and other services ​ Over time ​ ​ 6,668 ​ ​ 6,454 ​ ​ 19,510 ​ ​ 16,800 ​ Total revenue ​ ​ ​ $ 15,421 ​ $ 19,618 ​ $ 49,384 ​ $ 54,407 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ By geographical market: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ $ 12,230 ​ $ 13,582 ​ $ 39,726 ​ $ 37,881 ​ International ​ ​ ​ ​ 3,191 ​ ​ 6,036 ​ ​ 9,658 ​ ​ 16,526 ​ Total revenue ​ ​ ​ $ 15,421 ​ $ 19,618 ​ $ 49,384 ​ $ 54,407 ​

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 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 September 30, 2023: ​ ​ ​ ​ Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 966 ​ $ 966 ​ $ — ​ $ — Private Warrants ​ ​ 480 ​ ​ — ​ ​ 480 ​ ​ — Total liabilities at fair value on a recurring basis ​ $ 1,446 ​ $ 966 ​ $ 480 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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)	9 Months Ended
	Sep. 30, 2023
Inventories
Summary of inventories	The following table summarizes the Company’s inventories (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ 2023 2022 Raw materials ​ $ 72,256 ​ 41,265 Work-in-progress ​ 905 ​ 1,962 Finished goods ​ 20,855 ​ 16,743 Total inventories ​ $ 94,016 ​ $ 59,970

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2023 2022 Property and equipment, gross ​ $ 42,947 ​ $ 42,385 Less: accumulated depreciation and amortization ​ (16,585) ​ (11,054) Property and equipment, net ​ $ 26,362 ​ $ 31,331

Restricted Cash (Tables)

Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2023
Restricted Cash
Summary of reconciliation of cash, cash equivalents and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ 2023 2022 Reconciliation of cash, cash equivalents and restricted cash: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 150,006 ​ $ 193,313 Restricted cash included within prepaid expenses and other current assets ​ 243 ​ 704 Restricted cash included within other non-current assets ​ ​ 4,014 ​ ​ 4,014 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows ​ $ 154,263 ​ $ 198,031

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 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): ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ 2023 2022 Employee compensation ​ $ 9,202 ​ $ 12,166 Customer deposits ​ 1,281 ​ 1,135 Accrued warranty liability ​ 269 ​ 287 Non-income tax ​ 1,042 ​ 1,442 Professional fees ​ 2,523 ​ 3,450 Current portion of operating lease liabilities ​ ​ 1,923 ​ ​ 1,926 Estimated liability for legal contingencies ​ ​ 1,630 ​ ​ — Other ​ 4,063 ​ 5,710 Total accrued expenses and other current liabilities ​ $ 21,933 ​ $ 26,116
Schedule of warranty expense activity	The following table summarizes warranty expense activity (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 2023 2022 Balance, beginning of period ​ $ 787 ​ $ 975 ​ $ 873 ​ $ 1,116 ​ Warranty provision charged to operations ​ 227 ​ 76 ​ 176 ​ 241 ​ Warranty claims ​ (293) ​ (135) ​ (328) ​ (441) ​ Balance, end of period ​ $ 721 ​ $ 916 ​ $ 721 ​ $ 916 ​

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Equity Incentive Plans
Summary of the stock option activity	​ ​ ​ ​ ​ ​ Number of ​ ​ Options Outstanding at December 31, 2022 12,571,912 Granted — Exercised (180,467) Forfeited (3,797,376) Outstanding at September 30, 2023 8,594,069
Summary of the restricted stock unit activity	​ ​ ​ ​ ​ ​ Number of ​ ​ RSUs Outstanding at December 31, 2022 9,961,291 Granted 15,563,473 Vested (4,830,193) Forfeited (4,721,808) Outstanding at September 30, 2023 15,972,763
Schedule of stock-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2023 2022 2023 2022 Research and development ​ $ 2,158 ​ $ 3,180 ​ $ 7,549 ​ $ 9,596 Sales and marketing ​ ​ 1,109 ​ ​ 2,021 ​ 3,046 ​ 5,920 General and administrative ​ ​ 3,548 ​ ​ 4,212 ​ 10,329 ​ 11,912 Total stock-based compensation expense ​ $ 6,815 ​ $ 9,413 ​ $ 20,924 ​ $ 27,428

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Net Loss Per Share
Schedule of calculation of basic and diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (23,870) ​ $ (3,498) ​ $ (27,368) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (23,870) ​ $ (3,498) ​ $ (27,368) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 180,313,297 ​ 26,426,937 ​ 206,740,234 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 180,313,297 ​ 26,426,937 ​ 206,740,234 ​ Basic and diluted net loss per share ​ $ (0.13) ​ $ (0.13) ​ $ (0.13) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (47,515) ​ $ (7,227) ​ $ (54,742) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (47,515) ​ $ (7,227) ​ $ (54,742) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 173,745,746 ​ 26,426,937 ​ 200,172,683 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 173,745,746 ​ 26,426,937 ​ 200,172,683 ​ Basic and diluted net loss per share ​ $ (0.27) ​ $ (0.27) ​ $ (0.27) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (78,017) ​ $ (11,562) ​ $ (89,579) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (78,017) ​ $ (11,562) ​ $ (89,579) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 178,322,171 ​ 26,426,937 ​ 204,749,108 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 178,322,171 ​ 26,426,937 ​ 204,749,108 ​ Basic and diluted net loss per share ​ $ (0.44) ​ $ (0.44) ​ $ (0.44) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Class A Class B Common Stock ​ Numerator: ​ ​ ​ ​ ​ ​ Allocation of undistributed earnings ​ $ (117,137) ​ $ (17,883) ​ $ (135,020) ​ Numerator for basic and diluted net loss per share – loss available to common stockholders ​ $ (117,137) ​ $ (17,883) ​ $ (135,020) ​ Denominator: ​ ​ ​ ​ Weighted-average common shares outstanding ​ 173,101,457 ​ 26,426,937 ​ 199,528,394 ​ Denominator for basic and diluted net loss per share – weighted-average common stock ​ 173,101,457 ​ 26,426,937 ​ 199,528,394 ​ Basic and diluted net loss per share ​ $ (0.68) ​ $ (0.68) ​ $ (0.68) ​
Schedule of anti-dilutive common equivalent shares	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ 2023 2022 Outstanding options to purchase common stock ​ 8,594,069 ​ 13,740,728 ​ Outstanding restricted stock units ​ 15,972,763 ​ 11,578,865 ​ Outstanding warrants ​ 20,652,690 ​ 20,652,690 ​ Total anti-dilutive common equivalent shares ​ 45,219,522 ​ 45,972,283 ​ ​

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Summary of Significant Accounting Policies
Number of operating segments	1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	3 Months Ended
	Sep. 30, 2022
Customer one | Customer Concentration Risk | Revenues
Concentration risk (as a percentage)	10%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Operating Expenses - Other (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Research and development	$ 12,130	$ 22,040	$ 44,409	$ 68,883
Sales and marketing	9,012	15,481	28,776	47,121
General and administrative	11,560	16,603	37,239	54,080
Employment-related expenses	4,755	1,860	8,634	1,860
Legal-related expenses	4,488	1,037	9,214	1,978
Total other	$ 9,243	2,897	$ 17,848	3,838
Prior period reclassification
Research and development		1,114		1,114
Sales and marketing		330		330
General and administrative		1,453		2,394
Total other		$ 2,897		$ 3,838

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue Recognition
Total revenue	$ 15,421	$ 19,618	$ 49,384	$ 54,407
United States
Revenue Recognition
Total revenue	12,230	13,582	39,726	37,881
International
Revenue Recognition
Total revenue	3,191	6,036	9,658	16,526
Devices and accessories
Revenue Recognition
Total revenue	8,753	13,164	29,874	37,607
Software and other services
Revenue Recognition
Total revenue	$ 6,668	$ 6,454	$ 19,510	$ 16,800

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue Recognition
Payment terms			60 days
Allowance for doubtful accounts	$ 0.7		$ 0.7		$ 0.5
Amount of revenue recognized	$ 6.7	$ 5.1	$ 15.2	$ 11.2

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Revenue Recognition
Remaining performance obligations	$ 32	$ 23.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue Recognition
Percentage of remaining performance obligations as revenue	55%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue Recognition
Percentage of remaining performance obligations as revenue	45%
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	Sep. 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	$ 1,446	5,370
Public Warrants
Liabilities
Warrants	966	3,588
Private Warrants
Liabilities
Warrants	480	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	966	3,588
Level 1 | Public Warrants
Liabilities
Warrants	966	3,588
Level 1 | Mutual funds
Assets
Mutual funds		75,250
Level 2
Liabilities
Total liabilities at fair value on a recurring basis	480	1,782
Level 2 | Private Warrants
Liabilities
Warrants	$ 480	$ 1,782

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, unrealized losses | $	$ (0.6)	$ (0.6)
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	13,799,357
Private Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding warrants	6,853,333	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	1
Exercise price | $ / shares	$ 11.50	$ 11.50

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventories
Raw materials	$ 72,256	$ 41,265
Work-in-progress	905	1,962
Finished goods	20,855	16,743
Total inventories	$ 94,016	$ 59,970

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Property and Equipment, Net
Property and equipment, gross	$ 42,947	$ 42,947	$ 42,385
Less: accumulated depreciation and amortization	(16,585)	(16,585)	(11,054)
Property and equipment, net	26,362	26,362	$ 31,331
Accrued property and equipment	200	200		$ 800
Operating expenses
Property and Equipment, Net
Impairments of long-lived assets	$ 1,800	$ 1,800

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$ 150,006	$ 162,561	$ 193,313
Restricted cash included within prepaid expenses and other current assets	243		704
Restricted cash included within other non-current assets	4,014		4,014
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$ 154,263	$ 166,828	$ 198,031	$ 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	Sep. 30, 2023	Dec. 31, 2022
Accrued Expenses and Other Current Liabilities
Employee compensation	$ 9,202	$ 12,166
Customer deposits	1,281	1,135
Accrued warranty liability	269	287
Non-income tax	1,042	1,442
Professional fees	2,523	3,450
Estimated liability for legal contingencies	1,630
Current portion of operating lease liabilities	$ 1,923	$ 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	$ 4,063	$ 5,710
Total accrued expenses and other current liabilities	$ 21,933	$ 26,116

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities - Warranty expense activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accrued Expenses and Other Current Liabilities
Balance, beginning of period	$ 787	$ 975	$ 873	$ 1,116
Warranty provision charged to operations	227	76	176	241
Warranty claims	(293)	(135)	(328)	(441)
Balance, end of period	$ 721	$ 916	$ 721	$ 916

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	9 Months Ended
	Sep. 30, 2023 shares
Number of Options
Outstanding at beginning of the period	12,571,912
Exercised	(180,467)
Forfeited	(3,797,376)
Outstanding at end of the period	8,594,069

Equity Incentive Plans - Restri

Equity Incentive Plans - Restricted stock unit activity (Details) - Restricted stock units	9 Months Ended
	Sep. 30, 2023 shares
Number of Restricted Stock Units
Outstanding at beginning of the period	9,961,291
Granted	15,563,473
Vested	(4,830,193)
Forfeited	(4,721,808)
Outstanding at end of the period	15,972,763

Equity Incentive Plans - Stock-

Equity Incentive Plans - Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity Incentive Plan
Total stock-based compensation expense	$ 6,815	$ 9,413	$ 20,924	$ 27,428
Research and development
Equity Incentive Plan
Total stock-based compensation expense	2,158	3,180	7,549	9,596
Sales and marketing
Equity Incentive Plan
Total stock-based compensation expense	1,109	2,021	3,046	5,920
General and administrative
Equity Incentive Plan
Total stock-based compensation expense	$ 3,548	$ 4,212	$ 10,329	$ 11,912

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Allocation of undistributed earnings	$ (27,368)	$ (54,742)	$ (89,579)	$ (135,020)
Numerator for basic and diluted net loss per share - loss available to common stockholders	$ (27,368)	$ (54,742)	$ (89,579)	$ (135,020)
Denominator:
Weighted-average common shares outstanding - basic	206,740,234	200,172,683	204,749,108	199,528,394
Weighted-average common shares outstanding - diluted	206,740,234	200,172,683	204,749,108	199,528,394
Basic loss per share	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Diluted loss per share	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Class A Common Stock
Numerator:
Allocation of undistributed earnings	$ (23,870)	$ (47,515)	$ (78,017)	$ (117,137)
Numerator for basic and diluted net loss per share - loss available to common stockholders	$ (23,870)	$ (47,515)	$ (78,017)	$ (117,137)
Denominator:
Weighted-average common shares outstanding - basic	180,313,297	173,745,746	178,322,171	173,101,457
Weighted-average common shares outstanding - diluted	180,313,297	173,745,746	178,322,171	173,101,457
Basic loss per share	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Diluted loss per share	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Class B Common Stock
Numerator:
Allocation of undistributed earnings	$ (3,498)	$ (7,227)	$ (11,562)	$ (17,883)
Numerator for basic and diluted net loss per share - loss available to common stockholders	$ (3,498)	$ (7,227)	$ (11,562)	$ (17,883)
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	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)
Diluted loss per share	$ (0.13)	$ (0.27)	$ (0.44)	$ (0.68)

Net Loss Per Share - Anti-dilut

Net Loss Per Share - Anti-dilutive common equivalent shares (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net Loss Per Share
Total anti-dilutive common equivalent shares	45,219,522	45,972,283
Stock options
Net Loss Per Share
Total anti-dilutive common equivalent shares	8,594,069	13,740,728
Restricted stock units
Net Loss Per Share
Total anti-dilutive common equivalent shares	15,972,763	11,578,865
Outstanding warrants
Net Loss Per Share
Total anti-dilutive common equivalent shares	20,652,690	20,652,690

401(k) Retirement Plan (Details

401(k) Retirement Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
401(k) Retirement Plan
401(k) Employer match contribution	$ 0.2	$ 0.3	$ 0.6	$ 1.1

Reductions in Force (Details)

Reductions in Force (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		9 Months Ended
	Jul. 31, 2023	Jan. 31, 2023	Jul. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Employee severance and benefits costs				$ 4,755	$ 1,860	$ 8,634	$ 1,860
Employee Severance
Restructuring Cost and Reserve [Line Items]
Reduction in force (as a percent)	25%	25%	10%
Employee severance and benefits costs				4,800	$ 1,900	8,600	$ 1,900
Employee Severance | Accrued expenses and other current liabilities
Restructuring Cost and Reserve [Line Items]
Employee severance and benefits accrual				$ 2,200		$ 2,200

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Commitments and Contingencies
Operating lease cost	$ 600	$ 1,200	$ 2,500	$ 3,500
Increase in operating lease payments	200
Decrease in operating lease assets	4,200
Decrease in current operating lease liability	700
Decrease in noncurrent operating lease liability	4,700
Security deposit forfeited	900		900
Gain on lease termination	200		214
Accrued purchase commitments, current	212		212		$ 2,146
Estimated liability for legal contingencies	1,630		1,630
Accrued expenses and other current liabilities
Commitments and Contingencies
Estimated liability for legal contingencies	1,600		1,600
Inventory purchase commitments
Commitments and Contingencies
Minimum inventory purchase commitments			22,400
Prepaid vendor advance, net of write-downs	2,200		2,200
Accrued purchase commitments, current	200		200
Utilization of accrual of purchase commitment liability	300	$ 15,600	1,900	15,600
Utilization of vendor advance previously written down	$ 300		$ 4,800	$ 7,600