GeneDx (WGS) 10-Q15 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2021	Nov. 08, 2021
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-39482
Entity Registrant Name	Sema4 Holdings Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1966622
Entity Address, Address Line One	333 Ludlow Street
Entity Address, Address Line Two	North Tower, 8th Floor
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06902
City Area Code	800
Local Phone Number	298-6470
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		241,261,362
Entity Central Index Key	0001818331
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
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	SMFR
Security Exchange Name	NASDAQ
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	SMFRW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 461,276	$ 108,132
Accounts receivable	21,257	32,044
Due from related parties	413	289
Inventory	31,174	24,962
Prepaid expenses	20,205	4,557
Other current assets	4,186	4,124
Total current assets	538,511	174,108
Property and equipment, net	60,333	63,110
Restricted cash	900	10,828
Other assets	3,613	3,596
Total assets	603,357	251,642
Current liabilities:
Accounts payable and accrued expenses	43,079	38,591
Due to related parties	1,425	1,425
Current contract liabilities	493	1,783
Other current liabilities	26,369	31,643
Total current liabilities	71,366	73,442
Long-term debt, net of current portion	11,000	18,971
Stock-based compensation liabilities	0	131,989
Other liabilities	21,699	22,852
Warrant liability	46,629	0
Earn-out contingent liability	61,400	0
Total liabilities	212,094	247,254
Commitments and contingencies
Redeemable convertible preferred stock	0	334,439
Stockholders’ equity (deficit):
Preferred Stock, $0.0001 par value: 1,000,000 and 0 shares authorized at September 30, 2021 and December 31, 2020, respectively; 0 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	0	0
Additional paid-in capital	926,253	0
Accumulated deficit	(535,014)	(330,051)
Total stockholders’ equity (deficit)	391,263	(330,051)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	603,357	251,642
Series A-1
Current liabilities:
Redeemable convertible preferred stock	0	51,811
Series A-2
Current liabilities:
Redeemable convertible preferred stock	0	46,480
Series B
Current liabilities:
Redeemable convertible preferred stock	0	118,824
Series C
Current liabilities:
Redeemable convertible preferred stock	0	117,324
Class A Common Stock
Stockholders’ equity (deficit):
Common stock	24	0
Common Class B
Stockholders’ equity (deficit):
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Redeemable convertible preferred stock, authorized (in shares)		186,554,160
Redeemable convertible preferred stock, issued (in shares)		171,535,213
Redeemable convertible preferred stock, outstanding (in shares)	0	171,535,213
Redeemable convertible preferred stock, liquidation preference		$ 430,041
Preferred stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A-1 redeemable convertible preferred stock
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Redeemable convertible preferred stock, authorized (in shares)	0	55,399,943
Redeemable convertible preferred stock, issued (in shares)	0	55,399,943
Redeemable convertible preferred stock, outstanding (in shares)	0	55,399,943
Redeemable convertible preferred stock, liquidation preference	$ 0	$ 55,000
Series A-2 redeemable convertible preferred stock
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Redeemable convertible preferred stock, authorized (in shares)	0	64,718,940
Redeemable convertible preferred stock, issued (in shares)	0	49,700,364
Redeemable convertible preferred stock, outstanding (in shares)	0	49,700,364
Redeemable convertible preferred stock, liquidation preference	$ 0	$ 49,342
Series B redeemable convertible preferred stock
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Redeemable convertible preferred stock, authorized (in shares)	0	41,937,960
Redeemable convertible preferred stock, issued (in shares)	0	41,937,960
Redeemable convertible preferred stock, outstanding (in shares)	0	41,937,960
Redeemable convertible preferred stock, liquidation preference	$ 0	$ 204,302
Series C redeemable convertible preferred stock
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Redeemable convertible preferred stock, authorized (in shares)	0	24,497,317
Redeemable convertible preferred stock, issued (in shares)	0	24,496,946
Redeemable convertible preferred stock, outstanding (in shares)	0	24,496,946
Redeemable convertible preferred stock, liquidation preference	$ 0	$ 121,397
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	380,000,000	309,584,750
Common stock, issued (in shares)	240,190,402	124
Common stock, outstanding (in shares)	240,190,402	124
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, authorized (in shares)	0	18,575,085
Common stock, issued (in shares)	0	130,557
Common stock, outstanding (in shares)	0	130,557

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total revenue	$ 43,178	$ 38,608	$ 154,394	$ 115,365
Cost of services (including related party expenses of $656 and $452 for the three months ended September 30, 2021 and 2020, respectively and $1,942 and $1,485 for the nine months ended, September 30, 2021 and 2020 respectively)	58,752	36,530	180,195	111,754
Gross (loss) profit	(15,574)	2,078	(25,801)	3,611
Research and development	17,831	19,083	82,916	41,540
Selling and marketing	22,121	12,735	69,937	33,154
General and administrative	33,230	24,342	147,941	39,627
Related party expenses	847	1,933	3,532	6,239
Loss from operations	(89,603)	(56,015)	(330,127)	(116,949)
Other income (expense), net:
Change in fair market value of warrant and earn-out contingent liabilities	122,171	0	122,171	0
Interest income	27	63	57	473
Interest expense	(683)	(637)	(2,128)	(1,826)
Other income (expense), net	(520)	(26)	5,064	2,645
Total other income (expense), net	120,995	(600)	125,164	1,292
Income (loss) before income taxes	31,392	(56,615)	(204,963)	(115,657)
Income tax provision	0	0	0	0
Net comprehensive income (loss)	31,392	(56,615)	(204,963)	(115,657)
Net Income (loss)	$ 31,392	$ (56,615)	$ (204,963)	$ (115,657)
Weighted average shares outstanding, basic (in shares)	185,680,394	124	63,121,738	124
Denominator for diluted earnings per share-adjusted weighted-average common shares	210,330,946	0	0	0
Basic net loss per share (in dollars per share)	$ 0.17	$ (456,573)	$ (3.25)	$ (932,718)
Diluted net loss per share (in dollars per share)	$ 0.15	$ (456,573)	$ (3.25)	$ (932,718)
Class A Common Stock
Other income (expense), net:
Weighted average shares outstanding, basic (in shares)	185,680,394	124	63,121,738	124
Denominator for diluted earnings per share-adjusted weighted-average common shares	210,330,946	124	63,121,738	124
Basic net loss per share (in dollars per share)	$ 0.17	$ (456,573)	$ (3.25)	$ (932,718)
Diluted net loss per share (in dollars per share)	$ 0.15	$ (456,573)	$ (3.25)	$ (932,718)
Diagnostic test revenue
Total revenue	$ 41,410	$ 37,893	$ 148,973	$ 113,759
Other revenue
Total revenue	$ 1,768	$ 715	$ 5,421	$ 1,606

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - Affiliated Entities - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related party expense	$ 656	$ 452	$ 1,942	$ 1,485
Diagnostic test revenue
Related party revenue	20	86	90	186
Other revenue
Related party revenue	$ 65	$ 0	$ 153	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Additional paid-in capital	Accumulated deficit	Class A Common Stock	Class A Common StockCommon Stock	Class B Common StockCommon Stock
Beginning balance (in shares) at Dec. 31, 2019	147,038,267
Beginning balance at Dec. 31, 2019	$ 217,115
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Preferred Series C, net of issuance costs (in shares)	24,496,946
Issuance of Preferred Series C, net of issuance costs	$ 117,324
Ending balance (in shares) at Sep. 30, 2020	171,535,213
Ending balance at Sep. 30, 2020	$ 334,439
Beginning balance (in shares) at Dec. 31, 2019					124	0
Beginning balance at Dec. 31, 2019	(88,711)	$ 0	$ (88,711)		$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to common stockholders	(115,657)		(115,657)
Ending balance (in shares) at Sep. 30, 2020					124	0
Ending balance at Sep. 30, 2020	$ (204,368)	0	(204,368)		$ 0	$ 0
Beginning balance (in shares) at Jun. 30, 2020	147,038,267
Beginning balance at Jun. 30, 2020	$ 217,115
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Preferred Series C, net of issuance costs (in shares)	24,496,946
Issuance of Preferred Series C, net of issuance costs	$ 117,324
Ending balance (in shares) at Sep. 30, 2020	171,535,213
Ending balance at Sep. 30, 2020	$ 334,439
Beginning balance (in shares) at Jun. 30, 2020					124	0
Beginning balance at Jun. 30, 2020	(147,753)	0	(147,753)		$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to common stockholders	(56,615)		(56,615)
Ending balance (in shares) at Sep. 30, 2020					124	0
Ending balance at Sep. 30, 2020	$ (204,368)	0	(204,368)		$ 0	$ 0
Beginning balance (in shares) at Dec. 31, 2020	171,535,213
Beginning balance at Dec. 31, 2020	$ 334,439
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of Preferred Stock (in shares)	(171,535,213)
Conversion of Preferred Stock	$ (334,439)
Ending balance (in shares) at Sep. 30, 2021	0
Ending balance at Sep. 30, 2021	$ 0
Beginning balance (in shares) at Dec. 31, 2020					124	130,557
Beginning balance at Dec. 31, 2020	(330,051)	0	(330,051)		$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to common stockholders	(204,963)		(204,963)
Stock option exercises (in shares)				1,257,513,000	4,334	1,253,179
Stock option exercises	1,483	1,483
Conversion of Preferred Stock (in shares)					148,543,062
Conversion of Preferred Stock	104,532	104,517			$ 15
Conversion of Preferred Stock and Class B Common Stock (in shares)					1,309,320	(1,383,736)
Conversion of Preferred Stock and Class B Common Stock	(744)	(744)
Net equity infusion from the Business Combination (in Shares)					90,333,562
Net equity infusion from the Business Combination	510,751	510,742			$ 9
Stock based compensation modification reclassification	304,837	304,837
Stock based compensation expense	5,418	5,418
Ending balance (in shares) at Sep. 30, 2021					240,190,402	0
Ending balance at Sep. 30, 2021	$ 391,263	926,253	(535,014)		$ 24	$ 0
Beginning balance (in shares) at Jun. 30, 2021	171,535,213
Beginning balance at Jun. 30, 2021	$ 334,439
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of Preferred Stock (in shares)	(171,535,213)
Conversion of Preferred Stock	$ (334,439)
Ending balance (in shares) at Sep. 30, 2021	0
Ending balance at Sep. 30, 2021	$ 0
Beginning balance (in shares) at Jun. 30, 2021					4,458	1,383,736
Beginning balance at Jun. 30, 2021	(564,923)	1,483	(566,406)		$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to common stockholders	31,392		31,392
Conversion of Preferred Stock (in shares)					148,543,062
Conversion of Preferred Stock	104,532	104,517			$ 15
Conversion of Preferred Stock and Class B Common Stock (in shares)					1,309,320	(1,383,736)
Conversion of Preferred Stock and Class B Common Stock	(744)	(744)
Net equity infusion from the Business Combination (in Shares)					90,333,562
Net equity infusion from the Business Combination	510,751	510,742			$ 9
Stock based compensation modification reclassification	304,837	304,837
Stock based compensation expense	5,418	5,418
Ending balance (in shares) at Sep. 30, 2021					240,190,402	0
Ending balance at Sep. 30, 2021	$ 391,263	$ 926,253	$ (535,014)		$ 24	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (204,963)	$ (115,657)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	16,012	8,147
Stock-based compensation expense	182,454	30,073
Fair Value Adjustment of Warrants	(122,171)	0
Provision for excess and obsolete inventory	1,122	0
Non-cash lease expense	1,174	2,203
Loss on extinguishment of debt	301	0
Change in operating assets and liabilities:
Accounts receivable	10,787	(3,159)
Inventory	(7,334)	(8,105)
Prepaid expenses and other current assets	(15,710)	516
Due to/from related parties	(124)	617
Other assets	(17)	1,174
Accounts payable and accrued expenses	4,685	(537)
Contract liabilities	(1,290)	(135)
Other current liabilities	(3,375)	10,068
Net cash used in operating activities	(138,449)	(74,795)
Investing activities
Purchases of property and equipment	(4,344)	(17,310)
Development of internal-use software assets	(8,749)	(3,165)
Net cash used in investing activities	(13,093)	(20,475)
Financing activities
Proceeds from issuance of Series C redeemable convertible preferred stock, net of issuance costs	0	117,326
Proceeds from PIPE issuance	350,000	0
Proceeds from equity infusion from the merger, net of redemptions	442,684	0
Legacy Sema4 Shareholder payout	(230,665)	0
Payment of transaction costs	(51,760)	0
Stock Appreciation Rights payout	(3,795)	0
Repayment of long-term debt	(8,741)	0
Capital lease principal payments	(2,960)	(3,384)
Long-term debt principal payments	(1,000)	0
Proceeds from long-term debt	0	6,000
Exercise of stock options	995	0
Net cash provided by financing activities	494,758	119,942
Net increase in cash, cash equivalents and restricted cash	343,216	24,672
Cash, cash equivalents and restricted cash, at beginning of period	118,960	115,006
Cash, cash equivalents and restricted cash, at end of period	462,176	139,678
Supplemental disclosures of cash flow information
Cash paid for interest	2,128	1,826
Cash paid for taxes	50	0
Purchases of property and equipment in accounts payable and accrued expenses	193	268
Software development costs in accounts payable and accrued expenses	1,228	1,629
Assets acquired under capital leases obligations	$ 641	$ 5,637

Organization and Description of

Organization and Description of Business	9 Months Ended
Organization and Description of Business	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Mount Sinai Genomics Inc., a Delaware corporation (“Legacy Sema4”) provides genomics-related diagnostic and information services and pursues genomics medical research. Legacy Sema4 utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process DNA-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients. Legacy Sema4 provides a variety of genetic diagnostic tests and information with a focus on reproductive health, including pediatric, oncology and other conditions. In 2020, the Legacy Sema4 began to provide diagnostic testing services in response to the recent novel coronavirus (“COVID-19”) outbreak. Legacy Sema4 serves patients and bills third-party payors across the United States, with a substantial portion of its diagnostic testing volume occurring in New York, California, Florida, Connecticut and New Jersey. On July 22, 2021 (the “Closing Date”), CM Life Sciences, Inc. (“CMLS”) completed the acquisition of Legacy Sema4, pursuant to that certain Agreement and Plan of Merger (as amended, the “Merger Agreement”), dated February 9, 2021. On the Closing Date, S-IV Sub, Inc. (“Merger Sub”) merged with and into the Legacy Sema4, with Legacy Sema4 surviving the merger as a wholly-owned subsidiary of CMLS (the “Merger” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”). In connection with the consummation of the Business Combination, CMLS changed its name to “Sema4 Holdings Corp.” (“Sema4 Holdings”) and Legacy Sema4 changed its name to “Sema4 OpCo, Inc.” All equity securities of Legacy Sema4 were converted into the right to receive the applicable portion of the merger consideration. The Merger was accounted for as a reverse recapitalization with Legacy Sema4 as the accounting acquirer and CMLS as the acquired company for accounting purposes. The shares and net loss per common share, prior to the Merger, have been retroactively restated as shares reflecting the exchange ratio established in the Merger (1 share of Legacy Sema4 Class A common stock for 123.8339 shares of Sema4 Holdings Class A common stock) (the “Conversion Ratio”). Prior to the Merger, shares of CMLS Class A common stock, CMLS’s public warrants, and CMLS’s public units were traded on the Nasdaq Capital Market under the ticker symbols “CMLF”, “CMFLW”, and “CMLFU” respectively. On July 23, 2021, shares of Sema4 Holdings Class A common stock and Sema4 Holdings’ public warrants began trading on the Nasdaq Global Select Market (the “Nasdaq”) under the ticker symbols “SMFR” and “SMFRW,” respectively. See Note 3, “Business Combination,” for additional details. Unless otherwise stated herein or unless the context otherwise requires, references in these notes to the “Company,” or “Sema4” refer to (i) Legacy Sema4 prior to the consummation of the Business Combination; and (ii) Sema4 Holdings and its subsidiary following the consummation of the Business Combination.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. As such, the accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto as of and for the years ended December 31, 2020, 2019 and 2018. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to state fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results of operations or cash flows for a full year or any subsequent interim period. The Company’s historical financial information includes costs of certain services historically provided by Icahn School of Medicine at Mount Sinai (“ISMMS”) pursuant to the Transition Services Agreement ("TSA") and service agreements. Except as described elsewhere in Note 2 and in Note 3, “Business Combination”, there have been no material changes to the Company’s significant accounting policies as described in the unaudited condensed consolidated financial statements for the periods ended September 30, 2021 and 2020. 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 from the date of filing of this Form 10-Q. Segment Information The Company operates and manages its business as one reportable operating segment based on how the Chief Executive Officer, who is the Company’s chief operating decision maker (“CODM”), assesses performance and allocates resources across the business. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the unaudited condensed consolidated financial statements as well as the reported amounts of revenues and expenses during the periods presented. The Company bases these estimates on current facts, historical and anticipated results, trends and various other assumptions that it believes are reasonable in the circumstances, including assumptions as to future events. These estimates include, but are not limited to, the transaction price for certain contracts with customers, the capitalization of software costs and the valuation of stock-based awards, inventory, warrant liability and earn-out contingent liability. Actual results could differ materially from those estimates, judgments and assumptions. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents are deposited with high-quality financial institutions. The Company has balances in financial institutions that exceed federal depository insurance limits. Management believes these financial institutions are financially sound and, accordingly, that minimal credit risk exists. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company assesses both the customer and, if applicable, the third-party payor that reimburses the Company on the customer’s behalf when evaluating the concentration of credit risk. Significant customers and payors are those that represent more than 10% of the Company’s total annual revenues or accounts receivable balance at each respective balance sheet date. The significant concentrations of accounts receivable as of September 30, 2021 and December 31, 2020 were primarily from large managed care insurance companies and a reference laboratory. There was no individual customer that accounted for 10% or more of the Company’s revenue or accounts receivable for any of the periods presented. The Company does not require collateral as a means to mitigate customer credit risk. For each significant payor, revenue as a percentage of total revenues and accounts receivable as a percentage of total accounts receivable are as follows: Revenue Accounts Receivable Three months ended September 30, Nine months ended September 30, As of September 30, As of December 31, 2021 2020 2021 2020 2021 2020 Payor A 23 % 22 % 19 % 34 % 17 % 10 % Payor B * 10 % * 13 % * * Payor C 15 % 16 % 13 % 15 % * * Payor D * 12 % 10 % 11 % 10 % * Payor E * * * * * 20 % *less than 10% The Company is subject to a concentration of risk from a limited number of suppliers for certain reagents and laboratory supplies. One supplier accounted for approximately 8% and 12% for the three months ended September 30, 2021 and 2020, respectively and 10% and 9% of purchases of lab supplies, reagents and kits for the nine months ended September 30, 2021 and 2020, respectively. This risk is managed by maintaining a target quantity of surplus stock. Impact of COVID-19 In March 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic. COVID-19 has had, and continues to have, an extensive impact on global health and economic conditions. Many jurisdictions, including those in which the Company has current operations, have implemented measures to combat the spread of COVID-19, such as travel restrictions and shelter in place orders. In addition, the healthcare sector generally experienced a decline in discretionary care services at the onset of the pandemic. Beginning in April 2020, the Company’s diagnostic test volumes decreased significantly as compared to the prior year as a result of COVID-19 and the related limitations and priorities across the healthcare system. In response, beginning in May 2020, the Company entered into several service agreements with state governments and healthcare institutions to provide testing for the presence of COVID-19 strains. While test volumes have since improved, the Company continues to experience changes in the mix of tests due to the impact of COVID-19. COVID-19 could continue to have a material impact on the Company’s results of operations, cash flows and financial condition for the foreseeable future. In March 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law, which was a stimulus bill that, among other things, provided assistance to qualifying businesses and individuals and included funding for the healthcare system. During 2020, as part of the stimulus provided by the CARES Act, the Company received $5.4 million, comprised of $2.6 million received under the Provider Relief Fund (“PRF”) distribution, which was recognized in other income, net in the statements of operations and comprehensive loss, and $2.8 million received under the Employee Retention Credit (“ERC”) distribution, which was recorded in the other liabilities and reflected in this balance as of September 30, 2021 and December 31, 2020. During 2021, the Company received an additional $5.6 million under the PRF distribution, which was recognized in other income (expense), net in the condensed consolidated statements of operations and comprehensive loss. Cash, Cash Equivalents and Restricted Cash Cash equivalents consist of amounts invested in money market funds. Carrying values of cash equivalents approximate fair value due to the short-term nature of these instruments. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the condensed consolidated balance sheets that sum to the total of the same amounts shown on the condensed consolidated statements of cash flows (in thousands): As of September 30, 2021 As of December 31, 2020 Cash and cash equivalents $ 461,276 $ 108,132 Restricted cash 900 10,828 Total $ 462,176 $ 118,960 Restricted cash as of September 30, 2021 consists of money market deposit accounts that secure an irrevocable standby letter of credit that serves as collateral for security deposit operating leases (see Note 9). Warrant Liability As of the consummation of the Merger in July 2021, there were 21,995,000 warrants to purchase shares of Class A common stock outstanding, including 14,758,333 public warrants and 7,236,667 private placement warrants. As of September 30, 2021, there were 21,994,972 warrants to purchase shares of Class A common stock outstanding, including 14,758,305 public warrants and 7,236,667 private placement warrants outstanding. Each warrant expires five years after the Business Combination or earlier upon redemption or liquidation, and entitles the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share, subject to adjustment, at any time commencing on September 4, 2021. The Company may redeem the outstanding public warrants if the price per share of the common stock equals or exceeds $18.00 as described below: • in whole and not in part; • at a price of $0.01 per public warrant; • upon not less than 30 days’ prior written notice of redemption to each warrant holder; and • if, and only if, the closing price of the Class A common stock equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending three trading days before sending the notice of redemption to warrant holders. The Company may redeem the outstanding public warrants if the price per share of the common stock equals or exceeds $10.00 as described below: • in whole and not in part; • at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the common stock; • if, and only if, the closing price of the Class A common stock equals or exceeds $10.00 per share (as adjusted) for any 20 trading days within the 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders; and • if the closing price of the common stock for any 20 trading days within a 30-trading day period ending three trading days before the Company sends notice of redemption to the warrant holders is less than $18.00 per share (as adjusted), the private placement warrants must also be concurrently called for redemption on the same terms as the outstanding public warrants, as described above. The private placement warrants were issued to CMLS Holdings, LLC, Mr. Munib Islam, Dr. Emily Leproust and Mr. Nat Turner, and are identical to the public warrants underlying the units sold in the initial public offering, except that (1) the private placement warrants and the common stock issuable upon the exercise of the private placement warrants were not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions, (2) the private placement warrants are exercisable on a cashless basis, (3) the private placement warrants are non-redeemable (except as described above, upon a redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00) so long as they are held by the initial purchasers or their permitted transferees, and (4) the holders of the private placement warrants and the common stock issuable upon the exercise of the private placement warrants have certain registration rights. If the private placement warrants are held by someone other than the initial purchasers or their permitted transferees, the private placement warrants will be redeemable by the Company and exercisable by such holders on the same basis as the public warrants. The Company accounts for warrants as liability-classified instruments based on an assessment of the warrant terms and applicable authoritative guidance in accordance with ASC 480-Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815-Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, whether the warrants meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815. This assessment is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. Earn-out contingent liability In connection with the Merger, all Legacy Sema4 stockholders and option holders at that time became entitled to a pro rata share of 19,021,576 earn-out shares and earn-out Restricted Stock Units (“RSUs”). Based on an assessment of the earn-out shares for the Legacy Sema4 stockholders, the Company considered ASC 480 and ASC 815 and accounted for the earn-out shares as a liability. The Company subsequently measures the fair value of the liability at each reporting period and reports the changes in fair value recorded as a component of other income (expense), net in the condensed consolidated statements of operations and comprehensive loss. The Company determined the fair value of the earn-out shares issued to the Legacy Sema4 stockholders as of September 30, 2021 was $61.4 million. As for the earn-out RSUs for the Legacy Sema4 option holders, the vesting of such arrangement is conditioned on the satisfaction of both the service requirement and on the satisfaction of a market-based requirement. Therefore, the Company accounts for this arrangement in accordance with ASC 718- Compensation — Stock Compensation (“ASC 718”) and no amounts have been recorded in relation to the earn-out RSU during the quarter because they were not granted to the option holders during the three and nine months ended on September 30, 2021. The estimated fair value of the earn-out is determined using a Monte Carlo valuation analysis. Capitalized Internal-Use Software Costs We capitalize certain costs related to the development of our software applications for internal use. Capitalization begins during the application development stage, once the preliminary project stage has been completed. If a project constitutes an enhancement to existing software, we assess whether the enhancement creates additional functionality to the software, thus qualifying the work incurred for capitalization. Costs incurred prior to meeting these criteria together with costs incurred for training and maintenance are expensed as incurred. Once the project is available for general release, capitalization ceases and we estimate the useful life of the asset and begin amortization. We exercise judgment in determining the point at which various projects may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized. We periodically assess whether triggering events are present to review internal-use software for impairment. To the extent that we change our estimates related to internal-use software, the amount of internal-use software development costs we capitalize and amortize could change in future periods. Emerging Growth Company The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012. As such, the Company is eligible for exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies, including reduced reporting and extended transition periods to comply with new or revised accounting standards for public business entities. The Company has elected to avail itself of this exemption and, therefore, will not be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies. Recently Adopted Accounting Pronouncements Effective January 1, 2021, the Company adopted Accounting Standards Update (“ASU”) 2018-18, Collaborative Arrangements: Clarifying the Interaction between Topic 808 and Topic 606 (“ASU 2018-18”), which clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under ASC Topic 606 (“ASC 606”), Revenue from Contracts with Customers, when the counterparty is a customer. In addition, ASC Topic 808 (“ASC 808”), Collaborative Arrangements precludes an entity from presenting consideration from a transaction in a collaborative arrangement as revenue from contracts with customers if the counterparty is not a customer for that transaction. Adoption of ASU 2018-18 did not have an impact on the Company’s unaudited condensed consolidated financial statements as the Company is not currently a participant in any such collaborative arrangements. Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which requires lessees to recognize right-of-use assets and lease liabilities for most leases on their balance sheets. Expense recognition for lessees under ASU 2016-02 is similar to current lease accounting. ASU 2016-02 will require enhanced disclosures to help the financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The recognition, measurement and presentation of expenses and cash flows arising from a lease will primarily depend on its classification as a finance or operating lease. As an emerging growth company, the provisions of ASU 2016-02 are effective for the Company for annual and interim periods beginning after December 15, 2021. Early adoption is permitted. The Company is evaluating the transition options permissible under ASU 2016-02 and plans to adopt through a cumulative adjustment to retained earnings on the date of adoption. Significant implementation matters being addressed by the Company include documenting the new lease accounting process, and determining incremental borrowing rate and complete population of the leases for evaluation. The Company is evaluating the effect this ASU will have on its financial statements, related disclosures and ongoing financial reporting. The Company expects implementation of this ASU to result in the recognition of right-of-use assets and corresponding lease liabilities in its balance sheets, principally related to office and facility leases. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The new credit losses standard changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, contract assets recognized as a result of applying ASC 606, loans and certain other instruments, entities will be required to use a new forward looking “expected loss” model that generally will result in earlier recognition of credit losses than under today’s incurred loss model. As an emerging growth company, ASU 2016-13 is effective for annual periods beginning after December 15, 2022, with early adoption permitted. Application of the amendments is through a cumulative-effect adjustment to the opening retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company is currently evaluating the impact of the new guidance on its financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the standard. ASU 2018-15 will require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. ASU 2018-15 also requires the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. Additionally, ASU 2018-15 requires the entity to present the expense related to the capitalized implementation costs in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs on the balance sheets in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. The amendments in ASU 2018-15 are effective for the Company in annual reporting periods beginning after December 15, 2020 and interim periods beginning after December 15, 2021. Early adoption is permitted. The Company is expecting to prospectively apply amendments to all implementation costs incurred after the date of adoption. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740 and clarifying and amending existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. Early adoption is permitted. The Company is currently assessing the impact of adopting this new accounting guidance will have on its financial statements and related disclosures.

Business Combination

Business Combination	9 Months Ended
Business Combination	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination As discussed in Note 1, on July 22, 2021, the Company consummated the Business Combination and received net cash proceeds of $510.0 million. Pursuant to the Business Combination, the following occurred: • Holders of 10,188 shares of CMLS’s Class A common stock sold in its initial public offering (the “public shares”) exercised their right to have such shares redeemed for a full pro rata portion of the trust account holding the proceeds from CMLS’s initial public offering (the “IPO”), which was approximately $10.00 per share, or $101,880 in aggregate. • Each share of CMLS’s Class B common stock was automatically converted into common stock of the Company. • Each share of the Legacy Sema4 Class B common stock was converted into 1/100th of a share of Legacy Sema4 Class A common stock and each share of Legacy Sema4 common stock and preferred stock was canceled and received a portion of the merger consideration, resulting in certain Legacy Sema4 stockholders receiving $230,665,220 of cash and the Legacy Sema4 stockholders receiving an aggregate of 178,336,298 shares of common stock of the Company. • Pursuant to subscription agreements entered into on February 9, 2021, certain investors agreed to subscribe for an aggregate of 35,000,000 newly-issued shares of common stock at a purchase price of $10.00 per share for an aggregate purchase price of $350,000,000 (the “PIPE Investment”). Concurrently with the closing of the Business Combination, the Company consummated the PIPE Investment. • After giving effect to the Merger, the redemption of public shares and the conversion of the CMLS Class B common stock as described above, and the consummation of the PIPE Investment, there were 240,190,402 shares of the Company’s common stock issued and outstanding. The Company recorded $51.8 million of transaction costs which consist of direct, incremental legal, professional, accounting, and other third-party fees that were directly related to the execution of the Merger in additional paid-in capital. Upon consummation of the Merger, $9.0 million of the transaction costs relates to costs incurred by Legacy Sema4 and reclassed to offset against equity from prepaid expense and other current assets.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Diagnostic Revenue The majority of the Company’s revenue is generated from diagnostic services provided to three groups of customers: patients with third-party insurance coverage; patients without third-party insurance coverage or those who elect to self-pay; and institutional clients, such as hospitals, clinics and reference laboratories. Revenue from diagnostic testing services is recorded at the estimated transaction price, subject to the constraint for variable consideration, upon transfer of control of the service. Other Revenue The Company enters into both short-term and long-term project-based collaboration service agreements with third parties, whereby the Company provides diagnostic testing, research and related data aggregation reporting services. The consideration to which the Company is entitled pursuant to its collaboration service agreements generally includes non-refundable upfront payments and variable payments based upon the achievement of certain milestones during the contract term. Non-refundable upfront payments are generally received in advance of performing the services and, therefore, are recorded as a contract liability upon receipt. Milestone payments are included in the transaction price only when it is probable that doing so will not result in a significant reversal of cumulative revenue recognized when the uncertainty associated with the milestone is subsequently resolved. Revenue for such collaboration service agreements is recognized over time using an input measure based on costs incurred to satisfy the performance obligation. Disaggregated revenue The following tables summarize the Company’s revenue disaggregated by type of customer (in thousands): Three months ended September 30, 2021 2020 Diagnostic test revenue Patients with third-party insurance $ 36,738 $ 31,627 Institutional customers 3,656 5,796 Self-pay patients 1,016 470 Total diagnostic test revenue 41,410 37,893 Other revenue 1,768 715 Total $ 43,178 $ 38,608 Nine months ended September 30, 2021 2020 Diagnostic test revenue Patients with third-party insurance $ 123,395 $ 103,422 Institutional customers 23,075 8,948 Self-pay patients 2,503 1,389 Total diagnostic test revenue 148,973 113,759 Other revenue 5,421 1,606 Total $ 154,394 $ 115,365 Reassessment of variable consideration Subsequent changes to the estimate of the transaction price, determined on a portfolio basis when applicable, are generally recorded as adjustments to revenue in the period of the change. The Company updates estimated variable consideration quarterly. For the three months ended September 30, 2021, the quarterly change in estimate resulted in a net $0.6 million adjustment for tests in which the performance obligation of delivering the test results was met in prior periods. The change in estimate is a result of changes in the estimated transaction price due to contractual adjustments, obtaining updated information from payors and patients that was unknown at the time the performance obligation was met and settlements with third party payors. For the three months ended September 30, 2020, the quarterly change in estimate did not result in material adjustments to the Company’s previously reported revenue or accounts receivable amounts. Remaining performance obligations Due to the long-term nature of the collaboration service agreement, the Company’s obligations pursuant to such agreement represent partially unsatisfied performance obligations as of September 30, 2021. The revenues under existing collaboration service agreements with original expected durations of more than one year are estimated to be approximately $10.7 million. The Company expects to recognize the majority of this revenue over the next 4 years. Contract assets and liabilities Contract assets consist of the Company’s right to consideration that is conditional upon its future performance. Contract assets arise in collaboration service agreements for which revenue is recognized over time but the Company’s right to bill the customer is contingent upon the achievement of contractually-defined milestones. Contract liabilities consist of customer payments in excess of revenues recognized. For collaboration service agreements, the Company assesses the performance obligations and recognizes contract liabilities as current or non-current based upon forecasted performance. A reconciliation of the beginning and ending balances of contract assets and contract liabilities is shown in the table below (in thousands): Contract Assets Contract December 31, 2020 $ 2,028 $ 3,811 Contract asset additions 832 — Customer prepayments — 1,723 Revenue recognized 105 (2,076) September 30, 2021 $ 2,965 $ 3,458 The decrease in contract liabilities as of September 30, 2021 is primarily due to the execution of the performance obligations during the period. The Company presents contract assets and contract liabilities with respect to customer contracts on a net basis on its condensed consolidated balance sheets. As of September 30, 2021 and December 31, 2020, $0.5 million and $1.8 million is recorded as current contract liabilities, respectively. Revenues recognized that were included in the contract liability balance at the beginning of each period were $0.3 million and $0.1 million, respectively, for the three months ended September 30, 2021 and September 30, 2020 and $2.1 million and $0.3 million for the nine months ended September 30, 2021 and September 30, 2020. Costs to fulfill contracts Costs associated with fulfilling the Company’s performance obligations pursuant to its collaboration service agreements include costs for services that are subcontracted to ISMMS. Amounts are generally prepaid and then expensed in line with the pattern of revenue recognition. Prepayment of amounts prior to the costs being incurred are recognized on the condensed consolidated balance sheets as current or non-current based upon forecasted performance. As of September 30, 2021 and December 31, 2020, the Company had outstanding deferred costs to fulfill contracts of $2.2 million and $3.0 million, respectively. As of September 30, 2021 and December 31, 2020, all outstanding deferred costs were recorded as prepaid expenses and other current assets. Amortization of deferred costs was $0.3 million and $0.2 million for the three months ended September 30, 2021 and 2020, respectively and $0.9 million and $0.7 million for the nine months ended September 30, 2021 and 2020, respectively. The amortization of these costs is recorded in the cost of services on the condensed consolidated statements of operations and comprehensive loss.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets and liabilities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines the fair value of its financial instruments based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. The following hierarchy lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2: Observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active or model-derived valuations whose significant inputs are observable. Level 3: Unobservable inputs that are significant to the measurement of fair value but are supported by little to no market data. The Company’s financial assets and liabilities consist of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities, capital leases, warrant liability, earn-out contingent liability and long-term debt. The Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to the relatively short-term nature of these accounts. The Company’s capital leases and long-term debt are classified within Level 1 of the fair value hierarchy because such long-term debt and capital lease agreements bear interest at rates for instruments with similar characteristics; accordingly, the carrying value of these liabilities approximate their fair values. The following tables set forth the fair value of financial instruments that were measured at fair value on a recurring basis (in thousands): As of September 30, 2021 Total Level 1 Level 2 Level 3 Financial Assets: Money market funds $ 451,784 $ 451,784 $ — $ — Total financial assets $ 451,784 $ 451,784 $ — $ — Financial Liabilities: Public warrant liability $ 31,287 $ 31,287 $ — $ — Private warrant liability 15,342 — 15,342 — Earn-out contingent liability 61,400 — — 61,400 Total financial liabilities $ 108,029 $ 31,287 $ 15,342 $ 61,400 As of December 31, 2020 Total Level 1 Level 2 Level 3 Financial Assets: Money market funds $ 92,940 $ 92,940 $ — $ — Total financial assets $ 92,940 $ 92,940 $ — $ — The Company’s outstanding warrants include publicly-traded warrants (the “Public Warrants”) which were originally issued in the IPO and warrants sold in a private placement to CMLS Holdings LLC (the “Private Warrants”). The Company evaluated its warrants under ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and concluded that they do not meet the criteria to be classified in stockholders’ equity. Since the Public Warrants and Private Warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as non-current liabilities on the balance sheet at fair value upon the closing of the Business Combination, with subsequent changes in their respective fair values recognized in other income (expense), net on the condensed consolidated statements of operations and comprehensive loss at each reporting date. As of September 30, 2021, the Public Warrants are classified within Level 1 of the fair value hierarchy as they are traded in active markets. The Private Warrants are classified within Level 2 of the fair value hierarchy as management determined the fair value of each Private Warrant is the same as that of a Public Warrant because the terms are substantially the same. The contingent obligation to issue earn-out shares for Legacy Sema4 stockholders was accounted for as a liability and required remeasurement at each reporting date. The estimated fair value of the total earn-out shares as of September 30, 2021 is determined based on a Monte Carlo simulation valuation model. The fair value of the earn-out contingent liability is sensitive to expected volatility estimated based on selected guideline public companies and Company’s common stock price which is sensitive to changes in the forecasts of earnings and/or the relevant operating metrics. The key assumptions utilized in the valuation included the Company’s stock price of $7.59, expected volatility of 67.5%, risk-free rate of 0.24%, and an expected term of 1.8 years. The earn-out contingent liability is categorized as Level 3 of the fair value hierarchy as the Company utilizes unobservable inputs in estimating volatility rate. Initial fair value determined and recorded at the Closing Date was $143.1 million and a gain of $81.7 million was recorded in the change in fair market value of warrant and earn-out contingent liabilities in the condensed consolidated statements of operations and comprehensive loss based on re-measurement performed as of September 30, 2021. There were no transfers between Level 1, Level 2 and Level 3 during the periods presented.

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following (in thousands): As of September 30, As of December 31, Laboratory equipment $ 24,276 $ 22,818 Equipment under capital leases 21,384 20,743 Leasehold improvements 21,650 16,736 Capitalized software 23,135 14,631 Building under capital lease 6,276 6,276 Construction in-progress 1,660 4,673 Computer equipment 4,840 4,118 Furniture, fixtures and other equipment 3,222 3,214 Total property and equipment 106,443 93,209 Less: accumulated depreciation and amortization (46,110) (30,099) Property and equipment, net $ 60,333 $ 63,110 For the three months ended September 30, 2021 and 2020, depreciation and amortization expense was $5.5 million and $3.1 million. For the nine months ended September 30, 2021 and 2020, depreciation and amortization expense was $16.0 million and $8.1 million, respectively. This included software amortization expense of $1.4 million and $0.8 million for the three months ended September 30, 2021 and 2020 and $4.0 million and $2.0 million for the nine months ended September 30, 2021 and 2020, respectively. Depreciation and amortization expense is included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2021 2020 Cost of services $ 3,679 $ 1,983 Research and development 1,500 182 Selling and marketing 1 — General and administrative 311 902 Total depreciation and amortization expenses $ 5,491 $ 3,067 Nine months ended September 30, 2021 2020 Cost of services $ 10,824 $ 5,805 Research and development 4,197 692 Selling and marketing 2 — General and administrative 989 1,650 Total depreciation and amortization expenses $ 16,012 $ 8,147

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On June 1, 2017, the Company signed a contribution and funding agreement and other agreements with ISMMS, whereby ISMMS contributed certain assets and liabilities related to the Company’s operations, provided certain services to the Company, and also committed to funding the Company up to $55.0 million in future capital contributions in exchange for equity in the Company, of which $55.0 million was drawn as of December 31, 2019. Following the transaction, the Company commenced operations and began providing the services and performing research. For three and nine months ended September 30, 2021 and 2020, the Company incurred certain related party costs. Expenses recognized under the TSA totaled $0 and $1.7 million for the three months ended September 30, 2021 and 2020, respectively and $1.4 million and $5.5 million for the nine months ended September 30, 2021 and 2020 and are presented within related party expenses in the condensed consolidated statements of operations and comprehensive loss. The Company had TSA payables due to ISMMS of $0 and $0.6 million as of September 30, 2021 and December 31, 2020, respectively. These amounts are included within due to related parties on the Company’s condensed consolidated balance sheets. Expenses recognized pursuant to other service arrangements with ISMMS totaled $1.5 million and $0.6 million for the three months ended September 30, 2021 and 2020 and $4.1 million and $2.2 million for the nine months ended September 30, 2021 and 2020, respectively. These amounts are included in either cost of services or related party expenses on the condensed consolidated statements of operations and comprehensive loss depending on the particular activity to which the costs relate. Payables due to ISMMS for the other service arrangements were $1.4 million $0.8 million as of September 30, 2021 and December 31, 2020, respectively. These amounts are included within due to related parties on the Company’s condensed consolidated balance sheets. Total related party costs are included within cost of services and related party expenses in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2021 2020 Cost of services $ 656 $ 452 Related party expenses 847 1,933 Total related party costs $ 1,503 $ 2,385 Nine months ended September 30, 2021 2020 Cost of services $ 1,942 $ 1,485 Related party expenses 3,532 6,239 Total related party costs $ 5,474 $ 7,724

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt 2016 Funding Commitment In June 2017, ISMMS assigned a loan funding commitment from the Connecticut Department of Economic and Community Development (“DECD”) to the Company (the “DECD Loan Agreement”). The DECD Loan Agreement, as amended, provides for a total loan commitment of $15.5 million at a fixed annual interest rate of 2.0% for a term of 10 years. The Company is required to make interest-only payments through July 2023 and principal and interest payments commencing in August 2023. The final payment of principal and interest is due in July 2028. This commitment is collateralized by providing a security interest in certain machinery and equipment the Company acquired from ISMMS, as defined in a separate security agreement. The outstanding loan balance from the DECD Loan Agreement was $11.0 million as of September 30, 2021 and December 31, 2020. 2020 Master Loan Agreement In August 2020, the Company entered into a loan and security agreement with a bank (the “Master Loan Agreement”), in which the Company received a loan of $6.3 million and deposited the proceeds into a deposit account held by the bank. The Company was required to make sixty consecutive monthly payments of principal and interest at a fixed monthly amount of $0.1 million beginning in November 2020. Interest payments were fixed at an annual interest rate of 4.75%. The Company recorded the $6.3 million proceeds as restricted cash on the condensed consolidated balance sheets at December 31, 2020. The outstanding loan balance was $6.1 million at December 31, 2020. In July 2021, the Company terminated the Master Loan Agreement by paying off the full amount, including $5.4 million principal and interest and $0.1 million in early payment penalties assessed pursuant to the terms of the agreement which is included in other income (expense), net in the condensed consolidated statements of operations and comprehensive loss. 2020 Master Lease Agreement In December 2020, the Company entered into a lease agreement with a lender whereby the Company agreed to sell certain equipment and immediately lease back the equipment, resulting in proceeds of $3.6 million. Per the terms of the agreement, a financial institution issued an irrevocable standby letter of credit to the lender for $3.6 million. The Company was required to make sixty consecutive monthly payments of principal and interest at a fixed monthly amount of $0.1 million beginning in February 2021. Interest payments were fixed at an annual interest rate of 3.54%. The Company was required to maintain an aggregate amount on deposit equal to at least 105% of the value of any outstanding letters of credit issued by the financial institution on the Company’s behalf. The letter of credit was required to be in place until all obligations had been paid in full. Further, the Company was required to furnish annual audited financial statements and other financial information to the lender on a regular basis. The Company was in compliance with the covenants as of December 31, 2020. The Company recorded the $3.6 million proceeds as restricted cash on the condensed consolidated balance sheets at December 31, 2020. The outstanding loan balance was $3.6 million at December 31, 2020. In July 2021, the Company terminated the Master Lease Agreement by paying off the full amount, including $3.3 million principal and interest and early payment penalties of $0.2 million assessed pursuant to the terms of the agreement which is included in other income (expense), net in the condensed consolidated statements of operations and comprehensive loss. Maturities of Long-Term Debt As of September 30, 2021, long-term debt matures as follows (in thousands): 2021 (remainder of year) $ — 2022 — 2023 875 2024 2,131 2025 2,174 Thereafter 5,820 Total maturities of long-term debt 11,000 Less: current portion of long-term debt — Total long-term debt, net of current maturities $ 11,000

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company’s operating leases consist of office and lab space leases and a ground lease associated with a building under capital lease. The Company has entered into leases of office and lab space with ISMMS, including month-to-month leases in place during the nine months ended September 30, 2021 and 2020. Pursuant to the terms of a lease agreement, the Company was required to have issued an irrevocable standby letter of credit to the lessor for $0.9 million, which was included in restricted cash on the condensed consolidated balance sheets as of September 30, 2021 and December 31, 2020. Future minimum payments under non-cancelable operating leases as of September 30, 2021 are as follows (in thousands): 2021 (remainder of year) $ 1,076 2022 4,383 2023 4,474 2024 4,562 2025 4,684 Thereafter 50,239 Total operating lease obligations $ 69,418 Rent expense related to non-cancelable operating leases was $1.4 million for the three months ended September 30, 2021 and 2020, respectively. Rent expense related to month-to-month operating leases was $0.3 million and $0.9 million for the three months ended September 30, 2021 and 2020. Rent expense related to non-cancelable operating leases was $4.3 million and $4.0 million for the nine months ended September 30, 2021 and 2020, respectively. Rent expense related to month-to-month operating leases was $0.9 million and $2.4 million for the nine months ended September 30, 2021 and 2020. Capital Leases The Company entered into various capital lease agreements to obtain laboratory equipment that contain bargain purchase commitments at the end of the lease term. The terms of the capital leases range from 3 to 5 years with interest rates ranging from 1.9% to 12.0%. The leases are secured by the underlying equipment. The Company also leases a building used for office and laboratory space in which the building is accounted for as a capital lease and the land is as an operating lease. Property and equipment under capital leases was $27.7 million and $27.0 million as of September 30, 2021 and December 31, 2020, respectively. Accumulated amortization on capital lease assets was $12.6 million and $9.7 million on September 30, 2021 and December 31, 2020, respectively. For all capital leases, the portion of the future payments designated as principal repayment is recorded as a capital lease obligation on the Company’s condensed consolidated balance sheets in accordance with repayment terms. Future payments under capital leases as of September 30, 2021, are as follows (in thousands): 2021 (remainder of year) $ 1,225 2022 4,808 2023 3,584 2024 2,763 2025 2,451 Thereafter 51,886 Total capital lease obligations 66,717 Less: amounts representing interest (44,271) Present value of net minimum capital lease payments 22,446 Less : current portion (3,515) Capital lease obligations, net of current portion $ 18,931 Interest expense related to capital leases was $0.6 million for the three months ended September 30, 2021 and 2020 and $1.7 million for the nine months ended September 30, 2021 and 2020. Contingencies The Company is a party to various actions and claims arising in the normal course of business. The Company does not believe that the outcome of these matters will have a material effect on the Company’s condensed consolidated financial position, results of operations or cash flows. However, no assurance can be given that the final outcome of such proceedings will not materially impact the Company’s condensed consolidated financial condition or results of operations.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Incentive Plans The Company’s 2017 equity Incentive Plan (the “2017 Plan”), as amended in February 2018, allowed the grant of options, restricted stock awards, stock appreciation rights and restricted stock units. No options granted under the 2017 Plan are exercisable after 10 years from the date of grant, and option awards generally vest over a four-year period. The 2017 Plan was terminated in connection with the adoption of the Company's 2021 Equity Incentive Plan (the "2021 Plan"). Any awards granted under the 2017 Plan that remained outstanding as of the Closing Date and were converted into awards with respect to the Company’s Class A common stock in connection with the consummation of the Business Combination continue to be subject to the terms of the 2017 Plan and applicable award agreements, except for a modification of the repurchase provision, which is discussed further below. On July 22, 2021, in connection with the Business Combination, the 2021 Plan became effective and 32,734,983 authorized shares of common stock were reserved for issuance thereunder. This Plan will be administered by the Compensation Committee of the Company’s Board of Directors, including determination of the vesting, exercisability and payment of the awards to be granted under this Plan. No awards granted under the 2021 Plan are exercisable after 10 years from the date of grant. The Company did not make any grants under the 2021 Plan during the three and nine month period ended September 30, 2021. Employee Stock Purchase Plan The 2021 Employee Stock Purchase Plan (the “2021 ESPP”) became effective in connection with the Business Combination. The 2021 ESPP authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 4,804,011 shares of common stock have been reserved for future issuance under the 2021 ESPP. On each January 1 of each of 2022 through 2031, the aggregate number of shares of common stock reserved for issuance under the 2021 Plan may be increased automatically by the number of shares equal to one percent (1%) of the total number of shares of all classes of common stock issued and outstanding on the immediately preceding December 31. The Company did not make any grants of purchase rights under the 2021 ESPP during the three and nine month periods ended September 30, 2021. Stock Option Activity Under the 2017 Plan, the Company had a call option to repurchase awards for cash from the plan participants upon termination of the participant’s employment or consulting agreement (the “2017 Plan Call Option”). The options granted under the 2017 plan were accounted for as liability awards due to the 2017 Plan Call Option. The Company had a history of repurchase practice and the intention to repurchase the vested options. Therefore, fair value of the liability awards were remeasured at each reporting period until the stockholder bears the risks and rewards of equity ownership for a reasonable period of time, which the Company concludes is at least six months. Upon consummation of the Business Combination, the Company’s Board of Directors waived the Company’s right under the 2017 Plan Call Option to repurchase awards for cash from the plan participants upon termination of the participant’s employment or consulting agreement. As such, the Company modified the liability awards to equity awards and reclassified the modification date fair value of the awards to shareholders’ equity in the unaudited condensed consolidated financial statements as of July 22, 2021. An incremental expense of $0.4 million resulting from the modification event was recorded in the three months ended September 30, 2021. The following summarizes the stock option activity, which reflects the conversion of the options granted under the 2017 Plan into awards with respect to the Company Class A common stock in connection with the consummation of the Business Combination (in thousands, except share and per share amounts): Class A Common Stock Stock Options Outstanding Weighted Average Exercise Price Balance at December 31, 2020 32,339,970 $ 0.54 Options granted under 2017 Plan 241,112 $ 1.90 Options exercised (1,257,513) $ 0.85 Options forfeited and canceled (2,477,613) $ 1.18 Balance at September 30, 2021 28,845,956 $ 0.49 Options exercisable at September 30, 2021 22,851,188 $ 0.33 The estimated fair value of the stock option awards as of September 30, 2021 and September 30, 2020, was estimated using the Black-Scholes option pricing model with the following assumptions: Nine months ended September 30, 2021 2020 Expected volatility 49.60 % 65.00 % Expected term (in years) 5.00 2.00 - 4.50 Risk-free interest rate 0.71 % 0.15% - 0.27% Dividend yield 0.00 % 0.00 % Fair value of Class A common stock $11.60 $0.89 - $1.85 As of September 30, 2021, unrecognized stock-based compensation cost related to the unvested portion of the Company’s stock options was $25.5 million. The Company expects to recognize the unrecognized compensation cost on a graded-vesting basis over a weighted-average period of 1.5 years. Stock Appreciation Rights (SAR) Activity The Company historically granted SAR to one employee and one consultant with exercise condition of a liquidation event. As a result of the Business Combination, settlement of the outstanding vested SARs in exchange for a cash payment and to cancel the outstanding unvested SARs was agreed upon and an expense of $3.8 million related to the vested SAR was recognized by the Company during the three months ended September 30, 2021. There were no outstanding SARs as of September 30, 2021. Stock-based compensation expense for all awards granted and outstanding is included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2021 2020 Cost of services $ 3,699 $ 3,506 Research and development 3,160 6,583 Selling and marketing 2,263 2,758 General and administrative 8,889 16,606 Total stock-based compensation expense $ 18,011 $ 29,453 Nine months ended September 30, 2021 2020 Cost of services $ 23,162 $ 3,500 Research and development 40,977 6,687 Selling and marketing 20,722 2,865 General and administrative 97,593 17,021 Total stock-based compensation expense $ 182,454 $ 30,073

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	9 Months Ended
Redeemable Convertible Preferred Stock	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock There were no shares of Redeemable Convertible Preferred Stock outstanding as of September 30, 2021. Redeemable Convertible Preferred Stock as of December 31, 2020 consisted of the following (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Issued and Outstanding Amount Aggregate Liquidation Preference Series A-1 55,399,943 55,399,943 $ 51,811 $ 55,000 Series A-2 64,718,940 49,700,364 46,480 49,342 Series B 41,937,960 41,937,960 118,824 204,302 Series C 24,497,317 24,496,946 117,324 121,397 Total Redeemable Convertible Preferred Stock 186,554,160 171,535,213 $ 334,439 $ 430,041 Prior to the completion of the Business Combination, there were no significant changes to the terms of the Convertible Preferred Stock. Upon closing of the Merger, each share Preferred Stock (as defined in the Proxy Statement) was cancelled and received a portion of the merger consideration, resulting in certain Legacy Sema4 preferred stockholders receiving $230.0 million of cash and an aggregate of 148,543,062 shares of common stock. The Company recorded the conversion at the carrying value of the Redeemable Convertible Preferred Stock at the time of Closing.

Common Stock

Common Stock	9 Months Ended
Common Stock	Sep. 30, 2021
Equity [Abstract]
Common Stock	Common StockThere were 240,190,402 shares of Sema4 Holdings Class A common stock and 124 shares of Legacy Sema4 Class A common stock issued and outstanding as of September 30, 2021 and December 31, 2020, respectively. There were 0 and 130,557 shares of Class B common stock issued and outstanding as of September 30, 2021 and December 31, 2020, respectively.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income taxes for the three and nine months ended September 30, 2021 and September 30, 2020 are recorded at the Company’s estimated annual effective income tax rate, subject to adjustments for discrete events, should they occur. The Company’s estimated annual effective tax rate was 0.0% for the three and nine months ended September 30, 2021 and September 30, 2020. The primary reconciling item between the federal statutory rate of 21.0% for these periods and the Company’s overall effective tax rate of 0.0% was related to the effects of the valuation allowance recorded against the full amount of its net deferred tax assets. A valuation allowance is required when it is more likely than not that some portion or all of the Company’s deferred tax assets will not be realized. The realization of deferred tax assets depends on the generation of sufficient future taxable income during the period in which the Company’s related temporary differences become deductible. The Company has recorded a full valuation allowance against its net deferred tax assets as of September 30, 2021 and September 30, 2020 since management believes that based on the earnings history of the Company, it is more likely than not that the benefits of these assets will not be realized.

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
Net Income (Loss) per Share	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share Basic and diluted loss per share attributable to common stockholders was calculated as follows (amounts in thousands, except for share and per share amounts): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Numerator: Net income (loss) attributable to common stockholders $ 31,392 $ (56,615) $ (204,963) $ (115,657) Denominator: Denominator for basic earnings per share-weighted-average common shares 185,680,394 124 63,121,738 124 Effect of dilutive securities: Employee stock options 24,650,552 — — — Denominator for diluted earnings per share-adjusted weighted-average common shares 210,330,946 — — — Basic earnings/(loss) per share $ 0.17 $ (456,573) $ (3.25) $ (932,718) Diluted earnings/(loss) per share $ 0.15 $ (456,573) $ (3.25) $ (932,718) As a result of the Merger, the Company has retroactively adjusted the weighted-average number of shares of common stock outstanding prior to the Merger by multiplying them by the conversion ratio of 123.8339 used to determine the number of shares of common stock into which they converted. The common stock issued as a result of the redeemable convertible preferred stock conversion upon closing of the Merger was included in the basic and diluted earnings/(loss) per share calculation on a prospective basis. Prior to the consummation of the Merger, the Company applied the two-class method to calculate its basic and diluted net loss per share of common stock, as there were outstanding Class B common stock and redeemable convertible preferred stock that were participating securities. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. As the securities were all converted into Sema4 Holdings Class A common stock upon consummation of the Merger, all outstanding Legacy Sema4 Class B common stock has been retroactively converted to the Sema4 Holdings Class A common stock. The following tables summarize the outstanding shares of potentially dilutive securities that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been anti-dilutive: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Outstanding options to purchase Class A common stock — 12,796,144 28,846,080 12,769,144 Outstanding warrants 21,994,972 — 21,994,972 — Outstanding earn-out shares 16,331,812 — 16,331,812 — Total 38,326,784 12,796,144 67,172,864 12,769,144

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn November 15, 2021, the Company entered into a Loan and Security Agreement (the “SVB Agreement”) with Silicon Valley Bank (“SVB”), whereby SVB agreed to provide a $125,000,000 revolving credit facility (“Revolver”) with a maturity date of November 15, 2024. Any borrowings under the Revolver will bear interest at a floating rate that is the greater of either (a) Wall Street Journal Prime Rate (the “Prime Rate”) plus 0.75% (the “Prime Rate Margin”) or (b) 4.00%. The Revolver also requires an unused line fee of 0.25% per annum payable quarterly. The Revolver is secured by certain assets of the Company and its subsidiary, Sema4 Opco, Inc.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. As such, the accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto as of and for the years ended December 31, 2020, 2019 and 2018. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to state fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results of operations or cash flows for a full year or any subsequent interim period. The Company’s historical financial information includes costs of certain services historically provided by Icahn School of Medicine at Mount Sinai (“ISMMS”) pursuant to the Transition Services Agreement ("TSA") and service agreements. Except as described elsewhere in Note 2 and in Note 3, “Business Combination”, there have been no material changes to the Company’s significant accounting policies as described in the unaudited condensed consolidated financial statements for the periods ended September 30, 2021 and 2020. 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 from the date of filing of this Form 10-Q.
Segment Information	Segment Information The Company operates and manages its business as one reportable operating segment based on how the Chief Executive Officer, who is the Company’s chief operating decision maker (“CODM”), assesses performance and allocates resources across the business.
Use of Estimates	Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the unaudited condensed consolidated financial statements as well as the reported amounts of revenues and expenses during the periods presented. The Company bases these estimates on current facts, historical and anticipated results, trends and various other assumptions that it believes are reasonable in the circumstances, including assumptions as to future events. These estimates include, but are not limited to, the transaction price for certain contracts with customers, the capitalization of software costs and the valuation of stock-based awards, inventory, warrant liability and earn-out contingent liability. Actual results could differ materially from those estimates, judgments and assumptions.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents are deposited with high-quality financial institutions. The Company has balances in financial institutions that exceed federal depository insurance limits. Management believes these financial institutions are financially sound and, accordingly, that minimal credit risk exists. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company assesses both the customer and, if applicable, the third-party payor that reimburses the Company on the customer’s behalf when evaluating the concentration of credit risk. Significant customers and payors are those that represent more than 10% of the Company’s total annual revenues or accounts receivable balance at each respective balance sheet date. The significant concentrations of accounts receivable as of September 30, 2021 and December 31, 2020 were primarily from large managed care insurance companies and a reference laboratory. There was no individual customer that accounted for 10% or more of the Company’s revenue or accounts receivable for any of the periods presented. The Company does not require collateral as a means to mitigate customer credit risk. For each significant payor, revenue as a percentage of total revenues and accounts receivable as a percentage of total accounts receivable are as follows: Revenue Accounts Receivable Three months ended September 30, Nine months ended September 30, As of September 30, As of December 31, 2021 2020 2021 2020 2021 2020 Payor A 23 % 22 % 19 % 34 % 17 % 10 % Payor B * 10 % * 13 % * * Payor C 15 % 16 % 13 % 15 % * * Payor D * 12 % 10 % 11 % 10 % * Payor E * * * * * 20 % *less than 10%
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash equivalents consist of amounts invested in money market funds. Carrying values of cash equivalents approximate fair value due to the short-term nature of these instruments.
Capitalized Software	Capitalized Internal-Use Software Costs We capitalize certain costs related to the development of our software applications for internal use. Capitalization begins during the application development stage, once the preliminary project stage has been completed. If a project constitutes an enhancement to existing software, we assess whether the enhancement creates additional functionality to the software, thus qualifying the work incurred for capitalization. Costs incurred prior to meeting these criteria together with costs incurred for training and maintenance are expensed as incurred. Once the project is available for general release, capitalization ceases and we estimate the useful life of the asset and begin amortization. We exercise judgment in determining the point at which various projects may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized. We periodically assess whether triggering events are present to review internal-use software for impairment. To the extent that we change our estimates related to internal-use software, the amount of internal-use software development costs we capitalize and amortize could change in future periods.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements Effective January 1, 2021, the Company adopted Accounting Standards Update (“ASU”) 2018-18, Collaborative Arrangements: Clarifying the Interaction between Topic 808 and Topic 606 (“ASU 2018-18”), which clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under ASC Topic 606 (“ASC 606”), Revenue from Contracts with Customers, when the counterparty is a customer. In addition, ASC Topic 808 (“ASC 808”), Collaborative Arrangements precludes an entity from presenting consideration from a transaction in a collaborative arrangement as revenue from contracts with customers if the counterparty is not a customer for that transaction. Adoption of ASU 2018-18 did not have an impact on the Company’s unaudited condensed consolidated financial statements as the Company is not currently a participant in any such collaborative arrangements. Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which requires lessees to recognize right-of-use assets and lease liabilities for most leases on their balance sheets. Expense recognition for lessees under ASU 2016-02 is similar to current lease accounting. ASU 2016-02 will require enhanced disclosures to help the financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The recognition, measurement and presentation of expenses and cash flows arising from a lease will primarily depend on its classification as a finance or operating lease. As an emerging growth company, the provisions of ASU 2016-02 are effective for the Company for annual and interim periods beginning after December 15, 2021. Early adoption is permitted. The Company is evaluating the transition options permissible under ASU 2016-02 and plans to adopt through a cumulative adjustment to retained earnings on the date of adoption. Significant implementation matters being addressed by the Company include documenting the new lease accounting process, and determining incremental borrowing rate and complete population of the leases for evaluation. The Company is evaluating the effect this ASU will have on its financial statements, related disclosures and ongoing financial reporting. The Company expects implementation of this ASU to result in the recognition of right-of-use assets and corresponding lease liabilities in its balance sheets, principally related to office and facility leases. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The new credit losses standard changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, contract assets recognized as a result of applying ASC 606, loans and certain other instruments, entities will be required to use a new forward looking “expected loss” model that generally will result in earlier recognition of credit losses than under today’s incurred loss model. As an emerging growth company, ASU 2016-13 is effective for annual periods beginning after December 15, 2022, with early adoption permitted. Application of the amendments is through a cumulative-effect adjustment to the opening retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company is currently evaluating the impact of the new guidance on its financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the standard. ASU 2018-15 will require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. ASU 2018-15 also requires the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement. Additionally, ASU 2018-15 requires the entity to present the expense related to the capitalized implementation costs in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs on the balance sheets in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. The amendments in ASU 2018-15 are effective for the Company in annual reporting periods beginning after December 15, 2020 and interim periods beginning after December 15, 2021. Early adoption is permitted. The Company is expecting to prospectively apply amendments to all implementation costs incurred after the date of adoption. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740 and clarifying and amending existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. Early adoption is permitted. The Company is currently assessing the impact of adopting this new accounting guidance will have on its financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2021
Accounting Policies [Abstract]
Revenue and accounts receivable concentration percentages	For each significant payor, revenue as a percentage of total revenues and accounts receivable as a percentage of total accounts receivable are as follows: Revenue Accounts Receivable Three months ended September 30, Nine months ended September 30, As of September 30, As of December 31, 2021 2020 2021 2020 2021 2020 Payor A 23 % 22 % 19 % 34 % 17 % 10 % Payor B * 10 % * 13 % * * Payor C 15 % 16 % 13 % 15 % * * Payor D * 12 % 10 % 11 % 10 % * Payor E * * * * * 20 % *less than 10%
Reconciliation of cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the condensed consolidated balance sheets that sum to the total of the same amounts shown on the condensed consolidated statements of cash flows (in thousands): As of September 30, 2021 As of December 31, 2020 Cash and cash equivalents $ 461,276 $ 108,132 Restricted cash 900 10,828 Total $ 462,176 $ 118,960
Reconciliation of restricted cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the condensed consolidated balance sheets that sum to the total of the same amounts shown on the condensed consolidated statements of cash flows (in thousands): As of September 30, 2021 As of December 31, 2020 Cash and cash equivalents $ 461,276 $ 108,132 Restricted cash 900 10,828 Total $ 462,176 $ 118,960

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue disaggregated by type of customer	The following tables summarize the Company’s revenue disaggregated by type of customer (in thousands): Three months ended September 30, 2021 2020 Diagnostic test revenue Patients with third-party insurance $ 36,738 $ 31,627 Institutional customers 3,656 5,796 Self-pay patients 1,016 470 Total diagnostic test revenue 41,410 37,893 Other revenue 1,768 715 Total $ 43,178 $ 38,608 Nine months ended September 30, 2021 2020 Diagnostic test revenue Patients with third-party insurance $ 123,395 $ 103,422 Institutional customers 23,075 8,948 Self-pay patients 2,503 1,389 Total diagnostic test revenue 148,973 113,759 Other revenue 5,421 1,606 Total $ 154,394 $ 115,365
Contract assets and contract liabilities	A reconciliation of the beginning and ending balances of contract assets and contract liabilities is shown in the table below (in thousands): Contract Assets Contract December 31, 2020 $ 2,028 $ 3,811 Contract asset additions 832 — Customer prepayments — 1,723 Revenue recognized 105 (2,076) September 30, 2021 $ 2,965 $ 3,458

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value on a recurring basis	The following tables set forth the fair value of financial instruments that were measured at fair value on a recurring basis (in thousands): As of September 30, 2021 Total Level 1 Level 2 Level 3 Financial Assets: Money market funds $ 451,784 $ 451,784 $ — $ — Total financial assets $ 451,784 $ 451,784 $ — $ — Financial Liabilities: Public warrant liability $ 31,287 $ 31,287 $ — $ — Private warrant liability 15,342 — 15,342 — Earn-out contingent liability 61,400 — — 61,400 Total financial liabilities $ 108,029 $ 31,287 $ 15,342 $ 61,400 As of December 31, 2020 Total Level 1 Level 2 Level 3 Financial Assets: Money market funds $ 92,940 $ 92,940 $ — $ — Total financial assets $ 92,940 $ 92,940 $ — $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and equipment and depreciation and amortization expense	Property and equipment consisted of the following (in thousands): As of September 30, As of December 31, Laboratory equipment $ 24,276 $ 22,818 Equipment under capital leases 21,384 20,743 Leasehold improvements 21,650 16,736 Capitalized software 23,135 14,631 Building under capital lease 6,276 6,276 Construction in-progress 1,660 4,673 Computer equipment 4,840 4,118 Furniture, fixtures and other equipment 3,222 3,214 Total property and equipment 106,443 93,209 Less: accumulated depreciation and amortization (46,110) (30,099) Property and equipment, net $ 60,333 $ 63,110 Three months ended September 30, 2021 2020 Cost of services $ 3,679 $ 1,983 Research and development 1,500 182 Selling and marketing 1 — General and administrative 311 902 Total depreciation and amortization expenses $ 5,491 $ 3,067 Nine months ended September 30, 2021 2020 Cost of services $ 10,824 $ 5,805 Research and development 4,197 692 Selling and marketing 2 — General and administrative 989 1,650 Total depreciation and amortization expenses $ 16,012 $ 8,147

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
Related Party Transactions (Tables)	Sep. 30, 2021
Related Party Transactions [Abstract]
Related party expenses	Total related party costs are included within cost of services and related party expenses in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2021 2020 Cost of services $ 656 $ 452 Related party expenses 847 1,933 Total related party costs $ 1,503 $ 2,385 Nine months ended September 30, 2021 2020 Cost of services $ 1,942 $ 1,485 Related party expenses 3,532 6,239 Total related party costs $ 5,474 $ 7,724

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term debt maturities	As of September 30, 2021, long-term debt matures as follows (in thousands): 2021 (remainder of year) $ — 2022 — 2023 875 2024 2,131 2025 2,174 Thereafter 5,820 Total maturities of long-term debt 11,000 Less: current portion of long-term debt — Total long-term debt, net of current maturities $ 11,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum payments under non-cancelable operating leases as of September 30, 2021 are as follows (in thousands): 2021 (remainder of year) $ 1,076 2022 4,383 2023 4,474 2024 4,562 2025 4,684 Thereafter 50,239 Total operating lease obligations $ 69,418
Schedule of Future Minimum Lease Payments for Capital Leases	2021 (remainder of year) $ 1,225 2022 4,808 2023 3,584 2024 2,763 2025 2,451 Thereafter 51,886 Total capital lease obligations 66,717 Less: amounts representing interest (44,271) Present value of net minimum capital lease payments 22,446 Less : current portion (3,515) Capital lease obligations, net of current portion $ 18,931

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following summarizes the stock option activity, which reflects the conversion of the options granted under the 2017 Plan into awards with respect to the Company Class A common stock in connection with the consummation of the Business Combination (in thousands, except share and per share amounts): Class A Common Stock Stock Options Outstanding Weighted Average Exercise Price Balance at December 31, 2020 32,339,970 $ 0.54 Options granted under 2017 Plan 241,112 $ 1.90 Options exercised (1,257,513) $ 0.85 Options forfeited and canceled (2,477,613) $ 1.18 Balance at September 30, 2021 28,845,956 $ 0.49 Options exercisable at September 30, 2021 22,851,188 $ 0.33
Schedule of Valuation Assumptions	The estimated fair value of the stock option awards as of September 30, 2021 and September 30, 2020, was estimated using the Black-Scholes option pricing model with the following assumptions: Nine months ended September 30, 2021 2020 Expected volatility 49.60 % 65.00 % Expected term (in years) 5.00 2.00 - 4.50 Risk-free interest rate 0.71 % 0.15% - 0.27% Dividend yield 0.00 % 0.00 % Fair value of Class A common stock $11.60 $0.89 - $1.85
Summary of Stock-Based Compensation Expense	Stock-based compensation expense for all awards granted and outstanding is included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2021 2020 Cost of services $ 3,699 $ 3,506 Research and development 3,160 6,583 Selling and marketing 2,263 2,758 General and administrative 8,889 16,606 Total stock-based compensation expense $ 18,011 $ 29,453 Nine months ended September 30, 2021 2020 Cost of services $ 23,162 $ 3,500 Research and development 40,977 6,687 Selling and marketing 20,722 2,865 General and administrative 97,593 17,021 Total stock-based compensation expense $ 182,454 $ 30,073

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Tables)	9 Months Ended
Redeemable Convertible Preferred Stock (Tables)	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Temporary Equity	There were no shares of Redeemable Convertible Preferred Stock outstanding as of September 30, 2021. Redeemable Convertible Preferred Stock as of December 31, 2020 consisted of the following (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Issued and Outstanding Amount Aggregate Liquidation Preference Series A-1 55,399,943 55,399,943 $ 51,811 $ 55,000 Series A-2 64,718,940 49,700,364 46,480 49,342 Series B 41,937,960 41,937,960 118,824 204,302 Series C 24,497,317 24,496,946 117,324 121,397 Total Redeemable Convertible Preferred Stock 186,554,160 171,535,213 $ 334,439 $ 430,041

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
Net Income (Loss) per Share (Tables)	Sep. 30, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted net loss per share	Basic and diluted loss per share attributable to common stockholders was calculated as follows (amounts in thousands, except for share and per share amounts): Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Numerator: Net income (loss) attributable to common stockholders $ 31,392 $ (56,615) $ (204,963) $ (115,657) Denominator: Denominator for basic earnings per share-weighted-average common shares 185,680,394 124 63,121,738 124 Effect of dilutive securities: Employee stock options 24,650,552 — — — Denominator for diluted earnings per share-adjusted weighted-average common shares 210,330,946 — — — Basic earnings/(loss) per share $ 0.17 $ (456,573) $ (3.25) $ (932,718) Diluted earnings/(loss) per share $ 0.15 $ (456,573) $ (3.25) $ (932,718)
Potentially dilutive securities excluded from computation of diluted net loss per share	The following tables summarize the outstanding shares of potentially dilutive securities that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been anti-dilutive: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Outstanding options to purchase Class A common stock — 12,796,144 28,846,080 12,769,144 Outstanding warrants 21,994,972 — 21,994,972 — Outstanding earn-out shares 16,331,812 — 16,331,812 — Total 38,326,784 12,796,144 67,172,864 12,769,144

Organization and Description _2

Organization and Description of Business (Details)	9 Months Ended
Organization and Description of Business (Details)	Sep. 30, 2021
Affiliated Entities
Organization and Description of Business [Line Items]
Conversion ratio	123.8339

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Thousands	Jul. 22, 2021shares	Feb. 09, 2021shares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)daysegment$ / sharesshares	Sep. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Number of reportable segments \| segment						1
Net loss \| $			$ (31,392)	$ 56,615		$ 204,963	$ 115,657
Accumulated deficit \| $			535,014			535,014			$ 330,051
Cash and cash equivalents \| $			$ 461,276			$ 461,276		$ 461,276	$ 108,132
Proceeds from CARES act \| $					$ 5,400
Purchase of warrants (in shares) \| shares	21,995,000		21,994,972			21,994,972
Public warrants (in shares) \| shares			14,758,305			14,758,305
Warrant expiration term	5 years		1 year 9 months 18 days			1 year 9 months 18 days
Target share price of warrants or rights for redemption (in usd per share) \| $ / shares			$ 18			$ 18
Redemption price per warrant (in usd per warrant) \| $ / shares						$ 0.01
Number of days for written notice of redemption						30
Minimum number of trading days						30
Sema4 OpCo, Inc
Property, Plant and Equipment [Line Items]
Number of shares holder (in shares) \| shares		35,000,000				19,021,576
Earn-out contingent liability \| $			$ 61,400			$ 61,400
Class A Common Stock Equals or Exceeds, $18.00
Property, Plant and Equipment [Line Items]
Minimum threshold price of common stock specified to send notice of redemption to the warrant holders (in usd per share) \| $ / shares						$ 18
Minimum number of trading days						20
Consecutive trading day threshold						30
Public Warrants
Property, Plant and Equipment [Line Items]
Purchase of warrants (in shares) \| shares	14,758,333
Private Placement Warrants
Property, Plant and Equipment [Line Items]
Purchase of warrants (in shares) \| shares	7,236,667		7,236,667			7,236,667
Class A common stock
Property, Plant and Equipment [Line Items]
Warrant exercise price (in dollars per share) \| $ / shares			$ 11.50			$ 11.50
Purchase of aggregate private placement warrants (in dollars per share) \| shares	1
Target share price of warrants or rights for redemption (in usd per share) \| $ / shares			10			$ 10
Minimum number of trading days						20
Consecutive trading day threshold						30
Common Stock Threshold, Number Of Trading Days Before Notice Of Redemption						3
Redemption on warrant holders (in usd per share) \| $ / shares						$ 18
Class A common stock \| Sema4 OpCo, Inc
Property, Plant and Equipment [Line Items]
Number of shares holder (in shares) \| shares	10,188
Class A common stock \| Class A Common Stock Equals or Exceeds, $10.00
Property, Plant and Equipment [Line Items]
Target share price of warrants or rights for redemption (in usd per share) \| $ / shares			$ 10			10
Redemption price per warrant (in usd per warrant) \| $ / shares						$ 0.10
Number of days for written notice of redemption						30
Minimum number of trading days						20
Consecutive trading day threshold						30
Common Class B \| Sema4 OpCo, Inc
Property, Plant and Equipment [Line Items]
Number of shares holder (in shares) \| shares	178,336,298
Government Assistance, CARES Act, Provider Relief Fund
Property, Plant and Equipment [Line Items]
Proceeds from CARES act \| $					2,600	$ 5,600
Government Assistance, CARES Act, Employee Retention Credit
Property, Plant and Equipment [Line Items]
Proceeds from CARES act \| $					$ 2,800

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Concentration Risk (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Customer Concentration Risk \| Revenue \| Payor A
Concentration Risk [Line Items]
Concentration risk, percentage	23.00%	22.00%	19.00%	34.00%
Customer Concentration Risk \| Revenue \| Payor B
Concentration Risk [Line Items]
Concentration risk, percentage		10.00%		13.00%
Customer Concentration Risk \| Revenue \| Payor C
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%	16.00%	13.00%	15.00%
Customer Concentration Risk \| Revenue \| Payor D
Concentration Risk [Line Items]
Concentration risk, percentage		12.00%	10.00%	11.00%
Customer Concentration Risk \| Accounts Receivable \| Payor A
Concentration Risk [Line Items]
Concentration risk, percentage			17.00%		10.00%
Customer Concentration Risk \| Accounts Receivable \| Payor D
Concentration Risk [Line Items]
Concentration risk, percentage			10.00%
Customer Concentration Risk \| Accounts Receivable \| Payor E
Concentration Risk [Line Items]
Concentration risk, percentage					20.00%
Supplier Concentration Risk \| Purchases \| Supplier A
Concentration Risk [Line Items]
Concentration risk, percentage	8.00%	12.00%	10.00%	9.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 461,276	$ 461,276	$ 108,132
Restricted cash	900	900	10,828
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Total	$ 462,176	$ 462,176	$ 118,960	$ 139,678	$ 115,006

Business Combination (Details)

Business Combination (Details)	Jul. 22, 2021USD ($)$ / sharesshares	Feb. 09, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)shares	Sep. 30, 2020USD ($)
Business Acquisition [Line Items]
Legacy Sema4 Shareholder payout	$ 230,000,000		$ 230,665,000	$ 0
Sema4 OpCo, Inc
Business Acquisition [Line Items]
Business combination and net cash received	$ 510,000,000
Number of shares holder (in shares) \| shares		35,000,000	19,021,576
Price per shares \| $ / shares		$ 10
Number of shares public offering		$ 350,000,000
Number of shares issued and outstanding (in shares) \| shares	240,190,402
Sema4 OpCo, Inc \| Prepaid expenses and other current assets
Business Acquisition [Line Items]
Transactions costs	$ 9,000,000
Merger Additional Capital \| Sema4 OpCo, Inc
Business Acquisition [Line Items]
Transactions costs	$ 51,800,000
Class A common stock \| Sema4 OpCo, Inc
Business Acquisition [Line Items]
Number of shares holder (in shares) \| shares	10,188
Price per shares \| $ / shares	$ 10
Number of shares public offering	$ 101,880
Common Class B \| Sema4 OpCo, Inc
Business Acquisition [Line Items]
Number of shares holder (in shares) \| shares	178,336,298
Share conversion ratio	0.01000
Legacy Sema4 Shareholder payout	$ 230,665,220

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 43,178	$ 38,608	$ 154,394	$ 115,365
Diagnostic test revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	41,410	37,893	148,973	113,759
Patients with third-party insurance
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	36,738	31,627	123,395	103,422
Institutional customers
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,656	5,796	23,075	8,948
Self-pay patients
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,016	470	2,503	1,389
Other revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,768	$ 715	$ 5,421	$ 1,606

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized for reassessment of variable consideration	$ 600
Current contract liabilities	493		$ 493		$ 1,783
Revenue recognized included contract liability	300	$ 100	2,100	$ 300
Deferred costs to fulfill contracts	2,200		2,200		$ 3,000
Amortization of deferred costs	$ 300	$ 200	$ 900	$ 700

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 $ in Millions	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue under existing collaboration service agreements	$ 10.7
Revenue under existing collaboration service agreements, period for recognition	4 years

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Contract Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Contract Assets
Balance	$ 2,028
Contract asset additions	832
Customer prepayments	0
Revenue recognized	105
Balance	2,965
Contract Liabilities
Balance	3,811
Contract asset additions	0
Customer prepayments	1,723
Revenue recognized	(2,076)
Balance	$ 3,458

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 22, 2021	Dec. 31, 2020
Financial Liabilities:
Warrant liability		$ 143,100
Fair Value, Recurring
Financial Assets:
Total financial assets	$ 451,784		$ 92,940
Financial Liabilities:
Earn-out contingent liability	61,400
Total financial liabilities	108,029
Fair Value, Recurring \| Money market funds
Financial Assets:
Money market funds	451,784		92,940
Fair Value, Recurring \| Level 1
Financial Assets:
Total financial assets	451,784		92,940
Financial Liabilities:
Earn-out contingent liability	0
Total financial liabilities	31,287
Fair Value, Recurring \| Level 1 \| Money market funds
Financial Assets:
Money market funds	451,784		92,940
Fair Value, Recurring \| Level 2
Financial Assets:
Total financial assets	0		0
Financial Liabilities:
Earn-out contingent liability	0
Total financial liabilities	15,342
Fair Value, Recurring \| Level 2 \| Money market funds
Financial Assets:
Money market funds	0		0
Fair Value, Recurring \| Level 3
Financial Assets:
Total financial assets	0		0
Financial Liabilities:
Earn-out contingent liability	61,400
Total financial liabilities	61,400
Fair Value, Recurring \| Level 3 \| Money market funds
Financial Assets:
Money market funds	0		$ 0
Fair Value, Recurring \| Public Warrant
Financial Liabilities:
Warrant liability	31,287
Fair Value, Recurring \| Public Warrant \| Level 1
Financial Liabilities:
Warrant liability	31,287
Fair Value, Recurring \| Public Warrant \| Level 2
Financial Liabilities:
Warrant liability	0
Fair Value, Recurring \| Public Warrant \| Level 3
Financial Liabilities:
Warrant liability	0
Fair Value, Recurring \| Private Warrant
Financial Liabilities:
Warrant liability	15,342
Fair Value, Recurring \| Private Warrant \| Level 1
Financial Liabilities:
Warrant liability	0
Fair Value, Recurring \| Private Warrant \| Level 2
Financial Liabilities:
Warrant liability	15,342
Fair Value, Recurring \| Private Warrant \| Level 3
Financial Liabilities:
Warrant liability	$ 0

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Details) $ / shares in Units, $ in Thousands	2 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)	Jul. 22, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public per share (in Dollars per share) \| $ / shares	$ 7.59	$ 7.59
Expected term (in years)	1 year 9 months 18 days	1 year 9 months 18 days		5 years
Warrant liability				$ 143,100
Change in value of warrant liability	$ 81,700	$ (122,171)	$ 0
Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected volatility	0.675	0.675
Measurement Input, Risk Free Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected volatility	0.0024	0.0024

Property and Equipment - Compon

Property and Equipment - Components (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 106,443	$ 93,209
Less: accumulated depreciation and amortization	(46,110)	(30,099)
Property and equipment, net	60,333	63,110
Laboratory equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	24,276	22,818
Equipment under capital leases
Property, Plant and Equipment [Line Items]
Equipment under capital leases	21,384	20,743
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	21,650	16,736
Capitalized software
Property, Plant and Equipment [Line Items]
Total property and equipment	23,135	14,631
Building under capital lease
Property, Plant and Equipment [Line Items]
Total property and equipment	6,276	6,276
Construction in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment	1,660	4,673
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	4,840	4,118
Furniture, fixtures and other equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,222	$ 3,214

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 5,491	$ 3,067			$ 16,012	$ 8,147
Software amortization expense			$ 1,400	$ 800	$ 4,000	$ 2,000

Property and Equipment - Deprec

Property and Equipment - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expenses	$ 5,491	$ 3,067	$ 16,012	$ 8,147
Cost of services
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expenses	3,679	1,983	10,824	5,805
Research and development
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expenses	1,500	182	4,197	692
Selling and marketing
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expenses	1	0	2	0
General and administrative
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expenses	$ 311	$ 902	$ 989	$ 1,650

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 01, 2017
Related Party Transaction [Line Items]
Commitment to receive future capital contributions							$ 55,000
Cumulative funding drawn						$ 55,000
Due to related parties	$ 1,425		$ 1,425		$ 1,425
Affiliated Entities
Related Party Transaction [Line Items]
Related party costs	1,503	$ 2,385	5,474	$ 7,724
Affiliated Entities \| TSA Agreement
Related Party Transaction [Line Items]
Related party costs	0	1,700	1,400	5,500
Due to related parties	0		0		600
Affiliated Entities \| Service Agreements
Related Party Transaction [Line Items]
Related party costs	1,500	$ 600	4,100	$ 2,200
Due to related parties	$ 1,400		$ 1,400		$ 800

Related Party Transactions - Re

Related Party Transactions - Related Party Expenses (Details) - Affiliated Entities - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Related Party Transaction [Line Items]
Total related party costs	$ 1,503	$ 2,385	$ 5,474	$ 7,724
Cost of services
Related Party Transaction [Line Items]
Total related party costs	656	452	1,942	1,485
Related party expenses
Related Party Transaction [Line Items]
Total related party costs	$ 847	$ 1,933	$ 3,532	$ 6,239

Long-Term Debt - 2016 Funding C

Long-Term Debt - 2016 Funding Commitment (Details) - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2017	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding loan balance		$ 11,000
DECD Loan Agreement
Debt Instrument [Line Items]
Total funding commitment	$ 15,500
Term	10 years
Interest rate	2.00%
Outstanding loan balance		$ 11,000	$ 11,000

Long-Term Debt - 2020 Master Lo

Long-Term Debt - 2020 Master Loan Agreement (Details) $ in Thousands	1 Months Ended	9 Months Ended		12 Months Ended
	Aug. 31, 2020USD ($)segment	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)segment
Debt Instrument [Line Items]
Proceeds from loan		$ 0	$ 6,000
Number of consecutive required payments \| segment				60
Outstanding loan balance		11,000
Repayment of long-term debt		8,741	$ 0
Master Loan Agreement
Debt Instrument [Line Items]
Proceeds from loan				$ 6,300
Number of consecutive required payments \| segment	60
Monthly required principal and interest payment	$ 100
Interest rate	4.75%
Outstanding loan balance				$ 6,100
Repayment of long-term debt		5,400
Debt instrument interest		$ 100

Long-Term Debt - 2020 Master Le

Long-Term Debt - 2020 Master Lease Agreement (Details) $ in Thousands	Dec. 31, 2020USD ($)segment	Jul. 31, 2021USD ($)	Dec. 31, 2020USD ($)segment	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Proceeds from long-term debt				$ 0	$ 6,000
Number of consecutive required payments \| segment	60		60
Outstanding loan balance				11,000
Repayment of long-term debt				$ 8,741	$ 0
Master Lease Agreement
Debt Instrument [Line Items]
Proceeds from long-term debt	$ 3,600		$ 3,600
Monthly required principal and interest payment			$ 100
Interest rate	3.54%		3.54%
Letter of credit, deposit required, percent	105.00%		105.00%
Outstanding loan balance	$ 3,600		$ 3,600
Repayment of long-term debt		$ 3,300
Debt instrument interest		$ 200

Long-Term Debt - Maturities (De

Long-Term Debt - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2021 (remainder of year)	$ 0
2022	0
2023	875
2024	2,131
2025	2,174
Thereafter	5,820
Total maturities of long-term debt	11,000
Less: current portion of long-term debt	0
Total long-term debt, net of current maturities	$ 11,000	$ 18,971

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Operating Leased Assets [Line Items]
Restricted cash	$ 0.9		$ 0.9		$ 0.9
Operating leases, rent expense	1.4	$ 1.4	4.3	$ 4
Month-to-month operating lease, rent expense	0.3	0.9	0.9	2.4
Capital leased assets, gross	27.7		27.7		27
Capital leased assets, accumulated depreciation	12.6		12.6		$ 9.7
Capital lease, interest expense	$ 0.6	$ 0.6	$ 1.7	$ 1.7
Minimum
Operating Leased Assets [Line Items]
Capital lease obligation term			3 years
Capital lease, interest rate	1.90%		1.90%
Maximum
Operating Leased Assets [Line Items]
Capital lease obligation term			5 years
Capital lease, interest rate	12.00%		12.00%

Commitments and Contingencies_2

Commitments and Contingencies - Operating Lease Payments Due (Details) $ in Thousands	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (remainder of year)	$ 1,076
2022	4,383
2023	4,474
2024	4,562
2025	4,684
Thereafter	50,239
Total operating lease obligations	$ 69,418

Commitments and Contingencies_3

Commitments and Contingencies - Capital Lease Payments Due (Details) $ in Thousands	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (remainder of year)	$ 1,225
2022	4,808
2023	3,584
2024	2,763
2025	2,451
Thereafter	51,886
Total capital lease obligations	66,717
Less: amounts representing interest	(44,271)
Present value of net minimum capital lease payments	22,446
Less : current portion	(3,515)
Capital lease obligations, net of current portion	$ 18,931

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Thousands	Jul. 22, 2021shares	Sep. 30, 2021USD ($)shares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)shares	Sep. 30, 2021USD ($)voteshares	Sep. 30, 2021USD ($)shares	Sep. 30, 2021USD ($)shares	Sep. 30, 2021USD ($)shares	Sep. 30, 2021USD ($)employeeshares	Sep. 30, 2021USD ($)consultantshares	Sep. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense		$ 18,011	$ 29,453					$ 182,454			$ 30,073
Number of shares granted (in shares)									1	1
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense		400
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense		3,800
Outstanding vested value		0		$ 0	$ 0	$ 0	$ 0	0	$ 0	$ 0
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation cost on the unvested stock options		$ 25,500		$ 25,500	$ 25,500	$ 25,500	$ 25,500	$ 25,500	$ 25,500	$ 25,500
Class A Common Stock \| Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average vesting period for compensation cost				1 year 6 months
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share issuance \| shares		4,804,011		4,804,011	4,804,011	4,804,011	4,804,011	4,804,011	4,804,011	4,804,011
Number of shares equal to percent							1.00%
2017 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value re-measurement period for the liability awards				6 months
2017 Stock Incentive Plan \| Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted \| vote					0
Weighted average remaining contractual life (years), options exercisable				10 years
Vesting period				4 years
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted \| vote					0
Weighted average remaining contractual life (years), options exercisable	10 years
Number of grants (in shares) \| shares		0				0
Number of share issuance \| shares	32,734,983

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price, options exercised (in dollars per share) \| $ / shares	$ 0.85
Weighted average exercise price, options forfeited and cancelled (in dollars per share) \| $ / shares	$ 1.18
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant, outstanding (in shares) \| shares	32,339,970,000
Options exercised (in shares) \| shares	(1,257,513,000)
Options forfeited and cancelled (in shares) \| shares	(2,477,613,000)
Shares available for grant, outstanding (in shares) \| shares	28,845,956,000
Options outstanding, exercisable at end of period (in shares) \| shares	22,851,188,000
Weighted average exercise price, outstanding (in dollars per share) \| $ / shares	$ 0.54
Weighted average exercise price, outstanding (in dollars per share) \| $ / shares	0.49
Weighted average exercise price, options exercisable (in dollars per share) \| $ / shares	$ 0.33
Class A Common Stock \| 2017 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares) \| shares	241,112,000
Weighted average exercise price, options granted (in dollars per share) \| $ / shares	$ 1.90

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Estimated Fair Value of Stock Option Awards (Details) - Options to purchase common stock - $ / shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	49.60%	65.00%
Expected term (in years)	5 years
Risk-free interest rate	0.71%
Dividend yield	0.00%	0.00%
Fair value (in dollars per share)	$ 11.60
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)		2 years
Risk-free interest rate		0.15%
Minimum \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value (in dollars per share)		$ 890
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)		4 years 6 months
Risk-free interest rate		0.27%
Maximum \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value (in dollars per share)		$ 1,850

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 18,011	$ 29,453	$ 182,454	$ 30,073
Cost of services
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,699	3,506	23,162	3,500
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,160	6,583	40,977	6,687
Selling and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,263	2,758	20,722	2,865
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 8,889	$ 16,606	$ 97,593	$ 17,021

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock - Schedule of Redeemable Preferred Shares (Details) - USD ($) $ in Thousands	Jul. 22, 2021	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)					186,554,160
Redeemable convertible preferred stock, issued (in shares)					171,535,213
Redeemable convertible preferred stock, outstanding (in shares)		0	171,535,213	171,535,213	171,535,213	147,038,267	147,038,267
Redeemable convertible preferred stock		$ 0	$ 334,439	$ 334,439	$ 334,439	$ 217,115	$ 217,115
Aggregate liquidation preference					$ 430,041
Legacy Sema4 Shareholder payout	$ 230,000	$ 230,665	$ 0
Aggregate of common stock	148,543,062
Series A-1
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		0			55,399,943
Redeemable convertible preferred stock, issued (in shares)		0			55,399,943
Redeemable convertible preferred stock, outstanding (in shares)		0			55,399,943
Redeemable convertible preferred stock		$ 0			$ 51,811
Aggregate liquidation preference		$ 0			$ 55,000
Series A-2
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		0			64,718,940
Redeemable convertible preferred stock, issued (in shares)		0			49,700,364
Redeemable convertible preferred stock, outstanding (in shares)		0			49,700,364
Redeemable convertible preferred stock		$ 0			$ 46,480
Aggregate liquidation preference		$ 0			$ 49,342
Series B
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		0			41,937,960
Redeemable convertible preferred stock, issued (in shares)		0			41,937,960
Redeemable convertible preferred stock, outstanding (in shares)		0			41,937,960
Redeemable convertible preferred stock		$ 0			$ 118,824
Aggregate liquidation preference		$ 0			$ 204,302
Series C
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)		0			24,497,317
Redeemable convertible preferred stock, issued (in shares)		0			24,496,946
Redeemable convertible preferred stock, outstanding (in shares)		0			24,496,946
Redeemable convertible preferred stock		$ 0			$ 117,324
Aggregate liquidation preference		$ 0			$ 121,397

Common Stock (Details)

Common Stock (Details) - shares	Sep. 30, 2021	Dec. 31, 2020
Class A Common Stock
Class of Stock [Line Items]
Common stock, issued (in shares)	240,190,402	124
Common stock, outstanding (in shares)	240,190,402	124
Class B Common Stock
Class of Stock [Line Items]
Common stock, issued (in shares)	0	130,557
Common stock, outstanding (in shares)	0	130,557

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	0.00%	0.00%	0.00%	0.00%
Federal statutory rate			21.00%

Net Income (Loss) per Share - B

Net Income (Loss) per Share - Basic and Diluted (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / sharesshares
Numerator:
Net income (loss) attributable to common stockholders \| $	$ 31,392	$ (56,615)	$ (204,963)	$ (115,657)
Denominator:
Denominator for basic earnings per share-weighted-average common shares	185,680,394	124	63,121,738	124
Effect of dilutive securities:
Employee stock options	24,650,552	0	0	0
Denominator for diluted earnings per share-adjusted weighted-average common shares	210,330,946	0	0	0
Basic earnings/(loss) per share (in dollars per share) \| $ / shares	$ 0.17	$ (456,573)	$ (3.25)	$ (932,718)
Diluted earnings/(loss) per share (in dollars per share) \| $ / shares	$ 0.15	$ (456,573)	$ (3.25)	$ (932,718)
Conversion ratio			123.8339

Net Income (Loss) per Share - P

Net Income (Loss) per Share - Potentially Dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	38,326,784	12,796,144	67,172,864	12,769,144
Options to purchase common stock \| Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	0	12,796,144	28,846,080	12,769,144
Outstanding warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	21,994,972	0	21,994,972	0
Outstanding earn-out shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	16,331,812	0	16,331,812	0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Revolving Credit Facility $ in Thousands	Nov. 15, 2021USD ($)
Subsequent Event [Line Items]
Line of credit facility borrowing capacity	$ 125,000
Interest rate	4.00%
Unused line fee	0.25%
Prime Rate
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	0.75%