Science 37 (SNCE) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 04, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-39727
Entity Registrant Name	SCIENCE 37 HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4278203
Entity Address, Address Line One	800 Park Offices Drive
Entity Address, Address Line Two	Suite 3606
Entity Address, City or Town	Research Triangle Park
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27709
City Area Code	984
Local Phone Number	377-3737
Title of 12(b) Security	Shares of Common Stock, $0.0001 par value per share
Trading Symbol	SNCE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,348,405
Entity Central Index Key	0001819113
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Statement) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 148,329	$ 214,601
Accounts receivable and unbilled services, net	13,173	10,699
Prepaid expenses and other current assets	7,810	7,403
Total current assets	169,312	232,703
Property and equipment, net	1,225	1,393
Operating lease right-of-use assets	1,519	2,086
Capitalized software, net	37,298	24,290
Other assets	152	326
Total assets	209,506	260,798
Current liabilities:
Accounts payable	9,238	12,819
Accrued expenses and other liabilities	11,698	17,073
Deferred revenue	5,213	5,130
Total current liabilities	26,149	35,022
Non-current liabilities:
Deferred revenue	2,390	2,478
Operating lease liabilities	1,028	1,322
Other long-term liabilities	1,592	1,477
Long-term earn-out liability	2,500	98,900
Total liabilities	33,659	139,199
Commitments and Contingencies (Note 10)
Redeemable convertible preferred stock:
Redeemable convertible preferred stock, $0.0001 par value; 100,000,000 shares authorized, 0 issued and outstanding at June 30, 2022 and December 31, 2021, respectively	0	0
Stockholders’ equity:
Common stock, $0.0001 par value; 400,000,000 shares authorized, 116,252,431 and 114,991,026 issued and outstanding at June 30, 2022 and December 31, 2021, respectively	12	11
Additional paid-in capital	338,825	323,666
Accumulated other comprehensive income	27	0
Accumulated deficit	(163,017)	(202,078)
Total stockholders’ equity	175,847	121,599
Total liabilities, redeemable convertible preferred stock and stockholders’ equity	$ 209,506	$ 260,798

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Redeemable convertible preferred stock:
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	116,252,431	114,991,026
Common stock, shares outstanding (in shares)	116,252,431	114,991,026

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Revenue	$ 19,275	$ 12,547	$ 37,961	$ 24,986
Operating expenses:
Cost of revenue	13,842	7,289	29,828	15,928
Selling, general and administrative	28,183	11,382	58,337	20,545
Depreciation and amortization	4,230	1,776	7,699	3,273
Total operating expenses	46,255	20,447	95,864	39,746
Loss from operations	(26,980)	(7,900)	(57,903)	(14,760)
Other income (expense):
Interest income	95	1	189	1
Sublease income	240	181	479	214
Change in fair value of earn-out liability	20,900	0	96,400	0
Other income (expense), net	(88)	3	(105)	4
Total other income (expense), net	21,147	185	96,963	219
Income (loss) before income taxes	(5,833)	(7,715)	39,060	(14,541)
Income tax expense (benefit)	0	0	(1)	0
Net income (loss)	$ (5,833)	$ (7,715)	$ 39,061	$ (14,541)
Earnings (loss) per share:
Basic (in dollars per share)	$ (0.05)	$ (1.07)	$ 0.34	$ (2.32)
Diluted (in dollars per share)	$ (0.05)	$ (1.07)	$ 0.31	$ (2.32)
Weighted average common shares outstanding:
Basic weighted average common shares outstanding (in shares)	115,995	7,187	115,693	6,258
Diluted weighted average common shares outstanding (in shares)	115,995	7,187	126,185	6,258

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Statement) - USD ($) $ in Thousands	Total	Balances at December 31, 2020 (as previously reported)	Retroactive application of the recapitalization due to Merger	[1]	Common Stock	Common Stock Balances at December 31, 2020 (as previously reported)	Common Stock Retroactive application of the recapitalization due to Merger	[1]	Additional Paid-In Capital	Additional Paid-In Capital Balances at December 31, 2020 (as previously reported)	Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Balances at December 31, 2020 (as previously reported)	Accumulated Deficit	Accumulated Deficit Balances at December 31, 2020 (as previously reported)
Beginning balance (in shares) at Dec. 31, 2020	75,495,000	41,587,000	33,908,000
Beginning balance at Dec. 31, 2020	$ 143,086	$ 143,086
Ending balance (in shares) at Mar. 31, 2021	75,495,000
Ending balance at Mar. 31, 2021	$ 143,086
Beginning balance (in shares) at Dec. 31, 2020					5,020,000	2,765,000	2,255,000
Beginning balance at Dec. 31, 2020	(106,135)	$ (106,135)			$ 1	$ 1			$ 1,611	$ 1,611	$ 0	$ 0	$ (107,747)	$ (107,747)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	225								225
Proceeds from option exercises (shares)					919,000
Proceeds from option exercises	332								332
Net income (loss)	(6,826)												(6,826)
Ending balance (in shares) at Mar. 31, 2021					5,939,000
Ending balance at Mar. 31, 2021	$ (112,404)				$ 1				2,168		0		(114,573)
Beginning balance (in shares) at Dec. 31, 2020	75,495,000	41,587,000	33,908,000
Beginning balance at Dec. 31, 2020	$ 143,086	$ 143,086
Ending balance (in shares) at Jun. 30, 2021	75,495,000
Ending balance at Jun. 30, 2021	$ 143,086
Beginning balance (in shares) at Dec. 31, 2020					5,020,000	2,765,000	2,255,000
Beginning balance at Dec. 31, 2020	(106,135)	$ (106,135)			$ 1	$ 1			1,611	$ 1,611	0	$ 0	(107,747)	$ (107,747)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(14,541)
Ending balance (in shares) at Jun. 30, 2021					8,153,000
Ending balance at Jun. 30, 2021	$ (118,623)				$ 1				3,664		0		(122,288)
Beginning balance (in shares) at Mar. 31, 2021	75,495,000
Beginning balance at Mar. 31, 2021	$ 143,086
Ending balance (in shares) at Jun. 30, 2021	75,495,000
Ending balance at Jun. 30, 2021	$ 143,086
Beginning balance (in shares) at Mar. 31, 2021					5,939,000
Beginning balance at Mar. 31, 2021	(112,404)				$ 1				2,168		0		(114,573)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	690								690
Proceeds from option exercises (shares)					2,214,000
Proceeds from option exercises	806								806
Net income (loss)	(7,715)												(7,715)
Ending balance (in shares) at Jun. 30, 2021					8,153,000
Ending balance at Jun. 30, 2021	$ (118,623)				$ 1				3,664		0		(122,288)
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Mar. 31, 2022	0
Ending balance at Mar. 31, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	114,991,026				114,991,000
Beginning balance at Dec. 31, 2021	$ 121,599				$ 11				323,666		0		(202,078)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	7,557								7,557
Proceeds from option exercises (shares)					723,000
Proceeds from option exercises	131				$ 1				130
Net income (loss)	44,894												44,894
Ending balance (in shares) at Mar. 31, 2022					115,714,000
Ending balance at Mar. 31, 2022	$ 174,181				$ 12				331,353		0		(157,184)
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Jun. 30, 2022	0
Ending balance at Jun. 30, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	114,991,026				114,991,000
Beginning balance at Dec. 31, 2021	$ 121,599				$ 11				323,666		0		(202,078)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from option exercises (shares)	1,261,000
Net income (loss)	$ 39,061
Ending balance (in shares) at Jun. 30, 2022	116,252,431				116,252,000
Ending balance at Jun. 30, 2022	$ 175,847				$ 12				338,825		27		(163,017)
Beginning balance (in shares) at Mar. 31, 2022	0
Beginning balance at Mar. 31, 2022	$ 0
Ending balance (in shares) at Jun. 30, 2022	0
Ending balance at Jun. 30, 2022	$ 0
Beginning balance (in shares) at Mar. 31, 2022					115,714,000
Beginning balance at Mar. 31, 2022	174,181				$ 12				331,353		0		(157,184)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	7,103								7,103
Proceeds from option exercises (shares)					538,000
Proceeds from option exercises	369								369
Net income (loss)	(5,833)												(5,833)
Foreign currency translation	$ 27										27
Ending balance (in shares) at Jun. 30, 2022	116,252,431				116,252,000
Ending balance at Jun. 30, 2022	$ 175,847				$ 12				$ 338,825		$ 27		$ (163,017)
[1]Historical shares and capital amounts have been retroactively adjusted for reverse recapitalization as described in Note 1 "Company Background and Basis of Presentation" to the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Statement) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 39,061	$ (14,541)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	7,699	3,273
Non-cash lease expense related to operating lease right-of-use assets	567	878
Stock-based compensation	13,687	915
Gain on change in fair value of earn-out liability	(96,400)	0
Gain on foreign currency exchange rates	104	0
Provision for doubtful accounts	32	125
Changes in operating assets and liabilities:
Accounts receivable and unbilled services	(2,507)	4,937
Prepaid expenses and other current assets	(378)	(1,719)
Other assets	94	(142)
Accounts payable	(6,250)	(1,162)
Accrued expenses and other current liabilities	(5,879)	(2,814)
Deferred revenue	(5)	907
Operating lease liabilities	(294)	(605)
Other, net	115	945
Net cash used in operating activities	(50,354)	(9,003)
Cash flows from investing activities:
Payments related to capitalized software development costs	(16,228)	(6,117)
Purchases of property and equipment	(159)	(385)
Net cash used in investing activities	(16,387)	(6,502)
Cash flows from financing activities:
Proceeds from stock option exercises	472	1,133
Net cash provided by financing activities	472	1,133
Net decrease in cash and cash equivalents	(66,269)	(14,372)
Effect of foreign currency exchange rate changes on cash	(3)	0
Cash and cash equivalents, beginning of period	214,601	33,483
Cash and cash equivalents, end of period	148,329	19,111
Supplemental disclosures of non-cash activities
Balance in accounts payable, accrued expenses and other current liabilities, and capitalized stock-based compensation related to capitalized software and fixed asset additions	(4,152)	(948)
Right-of-use asset obtained in exchange for operating lease liabilities	0	(1,305)
Balance in prepaid expenses and other current assets related to stock option exercises	$ 28	$ 0

Company Background and Basis of

Company Background and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Background and Basis of Presentation	Company Background and Basis of Presentation Description of Business Science 37 Holdings, Inc. and its subsidiaries (the "Company" or "Science 37”) is a leading provider of technology-based solutions that enable agile clinical trials and decentralized approaches on behalf of biopharmaceutical sponsors. The Company pioneered agile and decentralization methods and developed the industry’s first Agile Clinical Trial Operating System™ (“OS”) combining its unified technology platform, which orchestrates workflows, generates evidence and harmonizes data seamlessly, with its expansive centralized networks of patient communities, telemedicine investigators, mobile nursing, community providers, remote coordinators and data and devices. By making clinical research more accessible to patients and providers, the OS helps clinical research sponsors achieve faster patient enrollment, enable better patient retention and increase accessibility to representative patient populations. These improvements help accelerate the development of potentially life-saving treatments through faster study timelines and a more representative and diverse patient population. The Company operates under one reporting segment. Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the Company’s financial condition and results of operations have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The balance sheet as of December 31, 2021 has been derived from the audited consolidated financial statements of the Company, but does not include all the disclosures required by GAAP. Reclassification Certain previously reported amounts have been reclassified to conform to the current period presentation. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses for the periods presented. Significant estimates and assumptions are used for, but are not limited to: (1) revenue recognition, (2) allowance for doubtful accounts, (3) long-lived asset recoverability, (4) useful lives of long-lived assets, (5) stock-based compensation, and (6) fair value measurements, including the fair value of the contingent liability related to the Earn-Out Shares as further discussed in Note 2 "Business Combination". Emerging Growth Company and Smaller Reporting Company Status As an emerging growth company (“EGC”), the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies. The Company has elected to use the extended transition period under the JOBS Act until such time the Company is not considered to be an EGC. The adoption dates are discussed in the section below to reflect this election. The Company is also a smaller reporting company as defined in Item 10(f) of Regulation S-K. Smaller reporting companies may take advantage of scaled disclosure requirements, including, among other things, providing audited financial statements for two fiscal years, in contrast to other reporting companies, which must provide audited financial statements for three fiscal years. To the extent the Company takes advantage of such scaled disclosure requirements, it may make the comparison of its financial statements with other public companies difficult or impossible. Accounting Pronouncements Recently Adopted In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (ASU 2019-12), which eliminates certain exceptions to the guidance in Income Taxes (Topic 740) related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 effective January 1, 2021. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures. Accounting Pronouncements Issued but Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The standard replaces the incurred loss impairment methodology in current GAAP with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company does not expect the adoption of the guidance to have a material effect on the Company’s consolidated financial statements. This is primarily based on the Company’s assessment of historical credit losses, customers’ creditworthiness, and the fact that the Company’s trade receivables are short term in duration. The Company plans to adopt the provisions of ASU 2016-13 effective January 1, 2023.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2022
Reverse Recapitalization [Abstract]
Business Combination	Business Combination On October 6, 2021, the Company consummated a merger (the “Merger”) with LifeSci Acquisition II Corp (“LSAQ”), pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), dated May 6, 2021. Pursuant to the Merger Agreement, the Company merged with LSAQ, with the Company treated as the accounting acquirer, LSAQ treated as the accounting acquiree and the Merger Transaction reflected as a reverse recapitalization. Under this method of accounting, the consolidated financial statements of Science 37, Inc. (“Legacy Science 37”) are the historical financial statements of the Company. The net assets of LSAQ were stated at historical costs, with no goodwill or other intangible assets recorded in accordance with U.S. GAAP, and were consolidated with Legacy Science 37’s financial statements on the closing date of the Merger Transaction. The shares and net loss per share available to holders of Legacy Science 37’s common and preferred stock prior to the Merger Transaction have been retroactively adjusted as shares reflecting the exchange ratio of approximately 1.815 established in the Merger Agreement. An aggregate of 30,858,261 shares of the Company’s common stock was issued to LSAQ public shareholders, the LSAQ Sponsor, and private placement (“PIPE”) investors as part of the transaction. As a result of the Merger Transaction, Legacy Science 37 shareholders received aggregate consideration of $233.5 million in 2021, including the PIPE financing, net of LSAQ shareholder redemptions and transaction costs. In addition, former holders of shares of Legacy Science 37 preferred and common stock and former holders of options to purchase shares of Legacy Science 37 common stock are entitled to receive their respective pro rata shares of up to 12,500,000 additional shares of

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Unsatisfied Performance Obligations As of June 30, 2022, the aggregate amount of transaction price allocated to the unsatisfied performance obligations was $163.5 million. The Company expects to recognize this revenue over the remaining contract term of the individual projects, with contract terms generally ranging from one month to 9.1 years. The amount of unsatisfied performance obligations is lower than the potential contractual revenue since it excludes revenue that is constrained. Revenue amounts excluded due to constraints include those amounts under contracts that (i) are wholly unperformed in which the customer has a unilateral right to cancel the arrangement, or (ii) require the Company to undertake numerous activities to fulfill the performance obligations, including various activities that are outside of the Company’s control. Timing of Billing and Performance During the three and six months ended June 30, 2022, the Company recognized approximately $1.6 million and $4.1 million of revenue, respectively, that was included in the deferred revenue balance at the beginning of the periods. During the three and six months ended June 30, 2022, revenue recognized from performance obligations partially satisfied in previous periods was $2.4 million and $3.0 million, respectively. These cumulative catch-up adjustments primarily related to contract modifications executed in the current period, which resulted in changes to the transaction price and changes in estimates such as estimated total costs. Accounts Receivable, Unbilled Services, and Deferred Revenue Accounts receivable and unbilled services (including contract assets) consisted of the following: (In thousands) June 30, 2022 December 31, 2021 Accounts receivable $ 12,324 $ 8,143 Unbilled services 1,150 2,825 Total accounts receivable and unbilled services 13,474 10,968 Allowance for doubtful accounts (301) (269) Total accounts receivable and unbilled services, net $ 13,173 $ 10,699 As of June 30, 2022 and December 31, 2021, contract assets of $1.2 million and $2.8 million, respectively, were included in unbilled services. Deferred revenue as of both June 30, 2022 and December 31, 2021 was $7.6 million. Changes in the Company’s accounts receivable, unbilled services and deferred revenue balances were impacted by timing differences between the Company’s satisfaction of performance obligations under its contracts, achievement of billing milestones, and customer payments. Revenue by Geography Substantially all of the Company’s revenue for the three and six months ending June 30, 2022 and 2021 was derived from services performed within the United States. No other country represented more than 10% of total revenue for either period. Concentration of Credit Risk Financial assets that subject the Company to credit risk primarily consist of cash and cash equivalents, accounts receivable and unbilled services. Based on the short-term nature and historical realization of the financial assets, as well as the reputable credit ratings of the financial institutions holding the deposits, the Company believes it bears minimal credit risk. For the three months ended June 30, 2022 and 2021, two and three customers individually (totaling 29.6% and 53.0% of revenues, respectively) accounted for greater than 10% of revenue. For the six months ended June 30, 2022 and 2021, two and three customers individually (totaling 32.4% and 66.7% of revenues, respectively) accounted for greater than 10% of revenue. As of June 30, 2022 and December 31, 2021, five and three customers individually (totaling 74.0% and 78.4% of accounts receivable, net, respectively) accounted for greater than 10% of accounts receivable, net.

Capitalized Software, net

Capitalized Software, net	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Capitalized Software, net	Capitalized Software, net For the six months ended June 30, 2022 and 2021, the Company capitalized $20.4 million and $7.1 million, respectively, of internal use software and recognized amortization expense of $7.4 million and $3.0 million, respectively. Estimated amortization expense for the years ending December 31, 2022 through December 31, 2025 is as follows: (In thousands) Amortization Expense Year: 2022 (excluding the six months ended June 30, 2022) $ 8,514 2023 15,714 2024 11,519 2025 1,551 The following represents capitalized software balances as of June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 (In thousands) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Capitalized software $ 62,573 $ (25,275) $ 37,298 $ 42,192 $ (17,902) $ 24,290

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases The following table presents lease liability maturities and balance sheet classification as of June 30, 2022: (in thousands) Years Ending December 31, Operating Leases 2022 (excluding the six months ended June 30, 2022) $ 557 2023 674 2024 599 2025 138 2026 11 2027 and thereafter — Total future minimum lease payments 1,979 Less imputed interest (152) Total lease liability $ 1,827 Balance Sheet classification of lease liabilities reported as of June 30, 2022: Current liabilities: Accrued expenses and other liabilities $ 799 Non-current liabilities: Operating lease liabilities 1,028 Total $ 1,827

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: (In thousands) June 30, 2022 December 31, 2021 Compensation, including bonuses, fringe benefits, and payroll taxes $ 6,806 $ 11,611 Professional fees, investigator fees, and pass-through expenses 2,180 3,174 Current portion of operating lease liabilities 799 1,120 Commissions payable 1,359 1,168 Other 554 — Total accrued expenses and other liabilities $ 11,698 $ 17,073

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial instruments, including cash and cash equivalents, are recorded at cost, which approximates fair value. Former holders of shares of Legacy Science 37 common stock were allocated Earn-Out Shares in connection with the completion of the Merger. These Earn-Out Shares are accounted for as a liability and require fair value measurement on a recurring basis. Due to the significant unobservable inputs that are required to value these shares, they are classified as Level 3 in the fair value hierarchy. Please refer to Note 11 "Earn-Out Shares" for additional details surrounding the valuation methodology for the Earn-Out Shares. None of the Company’s non-financial assets or liabilities are subject to fair value measurement on a non-recurring basis. There were no transfers between fair value measurement levels during the six months ended June 30, 2022. The following table summarizes the fair values of the Company’s assets and liabilities that are measured and reported at fair value on a recurring basis as of June 30, 2022: (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 142,324 $ — $ — $ 142,324 Total $ 142,324 $ — $ — $ 142,324 Liabilities: Earn-out liability related to shareholders $ — $ — $ 2,500 $ 2,500 Total $ — $ — $ 2,500 $ 2,500 The following table summarizes the fair values of the Company’s assets and liabilities that are measured and reported at fair value on a recurring basis as of December 31, 2021: (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 19,033 $ — $ — $ 19,033 Total $ 19,033 $ — $ — $ 19,033 Liabilities: Earn-out liability related to shareholders $ — $ — $ 98,900 $ 98,900 Total $ — $ — $ 98,900 $ 98,900

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The following table presents the calculation of basic and diluted earnings (loss) per share for the Company’s common stock (as adjusted for the Merger Exchange Ratio as described in Note 2 "Business Combination" ): Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Numerator: Net income (loss) $ (5,833) $ (7,715) $ 39,061 $ (14,541) Denominator: Basic weighted average common shares outstanding 115,995 7,187 115,693 6,258 Effect of dilutive securities: Stock options — — 10,428 — Restricted stock units 65 Diluted weighted average common shares outstanding 115,995 7,187 126,185 6,258 Earnings (loss) per share: Basic $ (0.05) $ (1.07) $ 0.34 $ (2.32) Diluted $ (0.05) $ (1.07) $ 0.31 $ (2.32) Potential common shares that are considered anti-dilutive are excluded from the computation of diluted earnings per share. Potential common shares related to stock-based awards issued under stock-based compensation programs, preferred stock and warrants may be determined to be anti-dilutive based on the application of the treasury stock method. Potential common shares are also considered anti-dilutive in periods when the Company incurs a net loss. Earn-Out Shares are contingent upon the price of the Company’s common stock over a specified period of time and the target stock prices have not been achieved as of the end of the reporting period. The number of potential shares outstanding that were anti-dilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, were as follows (as adjusted for the Merger Exchange Ratio as described in Note 2 "Business Combination"): Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Redeemable convertible preferred stock — 75,495 — 75,495 Stock options 27,413 14,509 16,321 15,151 Restricted stock units 321 Warrants — 12 — 12 Earn-Out Shares 12,500 — 12,500 — Total anti-dilutive shares 40,234 90,016 28,821 90,658

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions For the three and six months ended June 30, 2022, the Company had revenue of $2.1 million and $4.4 million, respectively, from Pharmaceutical Product Development, LLC (“PPD”), a wholly-owned subsidiary of Thermo Fisher Scientific, Inc. and a shareholder who beneficially owns 5% or more of the Company’s common stock. For the three and six months ended June 30, 2021, the Company had revenue of $3.6 million and $8.0 million, respectively, from PPD. In addition, as of June 30, 2022 and December 31, 2021, the Company had receivables of $1.7 million and $2.0 million, respectively, from PPD. For the three and six months ended months ended June 30, 2021, the Company had revenue of $0.2 million and $0.3 million, respectively, from Novartis Pharma AG, who had a 50% ownership in dRX Capital AG, a shareholder who, until July 2021, had a minority interest in the Company and a seat on the Company’s Board of Directors. In July 2021, dRX Capital AG was dissolved and their interest in the Company was distributed to their owners. This dissolution and distribution did not cause any other shareholder of the Company to obtain a minority interest in the Company. For both the three and six months ended June 30, 2021, the Company had revenue of $0.3 million from AlloVir a company in which Redmile Group, LLC has a minority interest. Entities affiliated with Redmile Group, LLC collectively own 5% or more of the Company’s common stock. The Company did not have revenue from AlloVir during the six months ended June 30, 2022.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company is subject to proceedings incidental to its business. The Company records accruals for claims, suits, investigations, and proceedings when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company reviews these contingencies regularly and records or adjusts accruals related to such matters to reflect the impact and status of any settlements, rulings, advice of counsel or other information pertinent to a particular matter. Gain contingencies are not recognized. Legal costs associated with contingencies are expensed as incurred. Since these matters are inherently unpredictable, assessing contingencies is highly subjective and requires judgments about future events. As of June 30, 2022, the Company had no material contingent losses recorded.

Earn-Out Shares

Earn-Out Shares	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Earn-Out Shares	Earn-Out Shares In accordance with the Merger Agreement, former holders of shares of Legacy Science 37 common stock (including shares received as a result of the conversion of Legacy Science 37 preferred stock) and former holders of options to purchase shares of Legacy Science 37 are entitled to receive their respective pro rata shares of up to 12,500,000 Earn-Out Shares if, during the three years following the consummation of the Merger, the volume weighted average price of Science 37’s Common Stock for a period of at least 20 days out of 30 consecutive trading days: i. is equal to or greater than $15.00, a one-time aggregate issuance of 5,000,000 Earn-Out Shares will be made (“Trigger 1”); and ii. is equal to or greater than $20.00, a one-time aggregate issuance of 7,500,000 Earn-Out Shares will be made (“Trigger 2”). As of December 31, 2021, the stockholders and option holders were estimated to receive approximately 10,914,421 and 1,585,579 Earn-Out Shares, respectively, based on the fully diluted capitalization table of Legacy Science 37. The fair value of the Earn-Out Shares was approximately $10.35 (Trigger 1) and approximately $8.20 (Trigger 2) per share as of December 31, 2021. As of June 30, 2022, the stockholders and option holders are estimated to receive approximately 11,018,198 and 1,481,802 Earn-Out Shares, respectively. The fair value of the Earn-Out Shares was approximately $0.29 (Trigger 1) and approximately $0.18 (Trigger 2) per share as of June 30, 2022. The estimated fair value of the Earn-Out Shares was determined using a Monte Carlo simulation valuation model using a distribution of potential outcomes on a monthly basis over the earn-out Period using the most reliable information available. This valuation method falls into Level 3 fair value hierarchy for inputs used in measuring fair value and is based on inputs that are unobservable and significant to the overall fair value measurement. Unobservable inputs are inputs that reflect the Company's judgment concerning the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. To the extent that the valuation is based on models or inputs that are unobservable in the market, the determination of fair value requires management to exercise a high degree of judgment. Change in significant unobservable inputs could result in a higher or lower fair value measurement of the liability associated with of the Earn-Out shares. Assumptions used in the valuation were as follows: June 30, 2022 December 31, 2021 Stock price $ 2.01 $ 12.47 Expected volatility 75.0 % 55.0 % Risk-free interest rate 2.94 % 0.91 % Forecast period (in years) 2.3 2.8 Former Science 37 Shareholders The Company has determined that the contingent obligation to issue Earn-Out Shares to former Science 37 shareholders is not indexed to the Company's stock under ASC Topic 815-40, Derivatives and Hedging - Contracts in Entity’s Own Equity, and therefore equity treatment is precluded. The Triggering Event that determines the issuance of the Earn-Out Shares includes terms that are not solely indexed to the common stock of the Company and, as such, liability classification is required. For the six months ended June 30, 2022, there was a decrease in the fair value of the earn-out liability of $96.4 million, which was recorded as a gain in “Change in fair value of earn-out liability” within the consolidated statements of operations. In accordance with the Merger Agreement, Earn-Out Shares attributable to former Science 37 option holders who discontinue providing service before the occurrence of the Triggering Event are reallocated to the remaining eligible former stockholders and former option holders. The earn-out liability is recorded on the balance sheet as a non-current liability because potential payment of the liability will be settled in the Company’s common shares. The following table presents a reconciliation of changes in the carrying amount of the contingent earn-out liability classified as Level 3 fair value hierarchy using significant unobservable inputs for the six months ended June 30, 2022: (In thousands) Earn-Out Liability Balance at December 31, 2021 $ 98,900 Change in fair value related to option holder forfeitures 172 Change in fair value related to share valuation inputs (96,572) Total change in fair value recognized in earnings $ (96,400) Balance at June 30, 2022 $ 2,500 Former Science 37 Option Holders The contingent obligation to issue Earn-Out Shares to former Science 37 option holders falls within the scope of ASC 718, Compensation - Stock Compensation, because the option holders are required to continue providing service until the occurrence of the Triggering Event(s). For the three and six months ended June 30, 2022, the Company recorded approximately $1.9 million and $3.8 million, respectively, in stock-based compensation expense related to the Earn-Out Shares. Approximately $3.4 million of unrecognized compensation expense was remaining at June 30, 2022, which is expected to be recognized over the remaining derived service period of 0.3 years (Trigger 1) and 0.7 years (Trigger 2).

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has one equity-based compensation plan, the Science 37 Holdings, Inc. 2021 Incentive Award Plan (the “2021 Plan”) from which stock-based compensation awards can be granted to employees, consultants, and non-executive directors. Prior to the consummation of the Merger in the fourth quarter of 2021, the Company granted stock options to employees under the Science 37, Inc. 2015 Stock Option Plan (the “2015 Plan”). No further awards have been or will be made under the 2015 Plan following the effectiveness of the 2021 Plan. The 2021 Plan allows for the grant of awards in the form of: (i) incentive stock options; (ii) non-qualified stock options; (iii) stock appreciation rights; (iv) restricted stock; (v) restricted stock units (“RSUs”); (vi) dividend equivalents; and (vii) other stock and cash based awards. In May 2022, the Company began granting RSUs to certain officers and employees, and to the Board of Directors. The RSUs are contingent upon continued service and vest over time in annual or bi-annual installments over the vesting period, which is typically 1 to 3 years. The fair value of the RSUs is based on the Company’s closing stock price on the grant date. The fair value of the RSUs is amortized straight-line over the vesting period. The following table summarizes stock option awards outstanding as of June 30, 2022, as well as activity during the six months then ended: (In thousands, except per share amounts) Number of Weighted Average Outstanding at December 31, 2021 25,425 $ 5.30 Granted 4,137 10.93 Exercised (1,261) 0.58 Forfeited (1,743) 7.84 Outstanding at June 30, 2022 26,558 $ 6.24 The following table summarizes RSU awards outstanding as of June 30, 2022, as well as activity during the six months then ended: (In thousands, except per share amounts) Number of Weighted Average Aggregate Fair Value Outstanding at December 31, 2021 — $ — Granted 877 $ 3.51 Vested — $ — Forfeited (10) $ 3.79 Outstanding at June 30, 2022 867 $ 3.50 $ 3,035 As of June 30, 2022, the total unrecognized compensation expense related to outstanding RSU and stock option awards was $71.3 million, which the Company expects to recognize over a weighted-average period of 2.86 years. The total amount of stock-based compensation expense recognized in the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2022 and 2021 was as follows: Statement of operations classification Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Cost of revenue (stock options) $ 462 $ 162 $ 976 $ 217 Selling, general and administrative (stock options) 3,791 528 8,959 698 Selling, general and administrative (Earn-Out Shares) 1,877 — 3,752 — Total stock-based compensation expense $ 6,130 $ 690 $ 13,687 $ 915 Stock-based compensation expense recognized in the statements of operations may differ from the impact of stock-based compensation to additional paid in capital due to stock-based compensation capitalized as part of software development activities.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company has incurred net operating losses since inception and is forecasting additional losses through December 31, 2022. No U.S. Federal or material state income taxes are expected for 2022 and foreign income taxes are expected to be immaterial; as such, the provision for income taxes recorded as of June 30, 2022 was immaterial. Due to the Company’s history of losses since inception, there is not enough evidence at this time to support the conclusion that the Company will generate future income of a sufficient amount and nature to utilize the benefits of the Company’s net deferred tax assets. Accordingly, as of June 30, 2022 and December 31, 2021, the Company provided a full valuation allowance against its net deferred tax assets since as of that time, the Company could not assert that it was more likely than not that these deferred tax assets would be realized.

Company Background, Basis of Pr

Company Background, Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated.
Use of Estimates	The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses for the periods presented. Significant estimates and assumptions are used for, but are not limited to: (1) revenue recognition, (2) allowance for doubtful accounts, (3) long-lived asset recoverability, (4) useful lives of long-lived assets, (5) stock-based compensation, and (6) fair value measurements, including the fair value of the contingent liability related to the Earn-Out Shares as further discussed in Note 2 "Business Combination".
Accounting Pronouncements Recently Adopted and Issued but Not Adopted	In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (ASU 2019-12), which eliminates certain exceptions to the guidance in Income Taxes (Topic 740) related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 effective January 1, 2021. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures.In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The standard replaces the incurred loss impairment methodology in current GAAP with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company does not expect the adoption of the guidance to have a material effect on the Company’s consolidated financial statements. This is primarily based on the Company’s assessment of historical credit losses, customers’ creditworthiness, and the fact that the Company’s trade receivables are short term in duration. The Company plans to adopt the provisions of ASU 2016-13 effective January 1, 2023.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Accounts receivable and unbilled services (including contract assets) consisted of the following: (In thousands) June 30, 2022 December 31, 2021 Accounts receivable $ 12,324 $ 8,143 Unbilled services 1,150 2,825 Total accounts receivable and unbilled services 13,474 10,968 Allowance for doubtful accounts (301) (269) Total accounts receivable and unbilled services, net $ 13,173 $ 10,699

Capitalized Software, net (Tabl

Capitalized Software, net (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Capitalized Software, Future Amortization Expense	(In thousands) Amortization Expense Year: 2022 (excluding the six months ended June 30, 2022) $ 8,514 2023 15,714 2024 11,519 2025 1,551
Capitalized Software	June 30, 2022 December 31, 2021 (In thousands) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Capitalized software $ 62,573 $ (25,275) $ 37,298 $ 42,192 $ (17,902) $ 24,290

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The following table presents lease liability maturities and balance sheet classification as of June 30, 2022: (in thousands) Years Ending December 31, Operating Leases 2022 (excluding the six months ended June 30, 2022) $ 557 2023 674 2024 599 2025 138 2026 11 2027 and thereafter — Total future minimum lease payments 1,979 Less imputed interest (152) Total lease liability $ 1,827 Balance Sheet classification of lease liabilities reported as of June 30, 2022: Current liabilities: Accrued expenses and other liabilities $ 799 Non-current liabilities: Operating lease liabilities 1,028 Total $ 1,827

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Other Current Liabilities	Accrued expenses and other liabilities consist of the following: (In thousands) June 30, 2022 December 31, 2021 Compensation, including bonuses, fringe benefits, and payroll taxes $ 6,806 $ 11,611 Professional fees, investigator fees, and pass-through expenses 2,180 3,174 Current portion of operating lease liabilities 799 1,120 Commissions payable 1,359 1,168 Other 554 — Total accrued expenses and other liabilities $ 11,698 $ 17,073

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the fair values of the Company’s assets and liabilities that are measured and reported at fair value on a recurring basis as of June 30, 2022: (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 142,324 $ — $ — $ 142,324 Total $ 142,324 $ — $ — $ 142,324 Liabilities: Earn-out liability related to shareholders $ — $ — $ 2,500 $ 2,500 Total $ — $ — $ 2,500 $ 2,500 The following table summarizes the fair values of the Company’s assets and liabilities that are measured and reported at fair value on a recurring basis as of December 31, 2021: (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds $ 19,033 $ — $ — $ 19,033 Total $ 19,033 $ — $ — $ 19,033 Liabilities: Earn-out liability related to shareholders $ — $ — $ 98,900 $ 98,900 Total $ — $ — $ 98,900 $ 98,900

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted earnings (loss) per share for the Company’s common stock (as adjusted for the Merger Exchange Ratio as described in Note 2 "Business Combination" ): Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Numerator: Net income (loss) $ (5,833) $ (7,715) $ 39,061 $ (14,541) Denominator: Basic weighted average common shares outstanding 115,995 7,187 115,693 6,258 Effect of dilutive securities: Stock options — — 10,428 — Restricted stock units 65 Diluted weighted average common shares outstanding 115,995 7,187 126,185 6,258 Earnings (loss) per share: Basic $ (0.05) $ (1.07) $ 0.34 $ (2.32) Diluted $ (0.05) $ (1.07) $ 0.31 $ (2.32)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The number of potential shares outstanding that were anti-dilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, were as follows (as adjusted for the Merger Exchange Ratio as described in Note 2 "Business Combination"): Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Redeemable convertible preferred stock — 75,495 — 75,495 Stock options 27,413 14,509 16,321 15,151 Restricted stock units 321 Warrants — 12 — 12 Earn-Out Shares 12,500 — 12,500 — Total anti-dilutive shares 40,234 90,016 28,821 90,658

Earn-Out Shares (Tables)

Earn-Out Shares (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurement Inputs and Valuation Techniques	Assumptions used in the valuation were as follows: June 30, 2022 December 31, 2021 Stock price $ 2.01 $ 12.47 Expected volatility 75.0 % 55.0 % Risk-free interest rate 2.94 % 0.91 % Forecast period (in years) 2.3 2.8
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a reconciliation of changes in the carrying amount of the contingent earn-out liability classified as Level 3 fair value hierarchy using significant unobservable inputs for the six months ended June 30, 2022: (In thousands) Earn-Out Liability Balance at December 31, 2021 $ 98,900 Change in fair value related to option holder forfeitures 172 Change in fair value related to share valuation inputs (96,572) Total change in fair value recognized in earnings $ (96,400) Balance at June 30, 2022 $ 2,500

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Option, Activity	The following table summarizes stock option awards outstanding as of June 30, 2022, as well as activity during the six months then ended: (In thousands, except per share amounts) Number of Weighted Average Outstanding at December 31, 2021 25,425 $ 5.30 Granted 4,137 10.93 Exercised (1,261) 0.58 Forfeited (1,743) 7.84 Outstanding at June 30, 2022 26,558 $ 6.24
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following table summarizes RSU awards outstanding as of June 30, 2022, as well as activity during the six months then ended: (In thousands, except per share amounts) Number of Weighted Average Aggregate Fair Value Outstanding at December 31, 2021 — $ — Granted 877 $ 3.51 Vested — $ — Forfeited (10) $ 3.79 Outstanding at June 30, 2022 867 $ 3.50 $ 3,035
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The total amount of stock-based compensation expense recognized in the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2022 and 2021 was as follows: Statement of operations classification Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2022 2021 2022 2021 Cost of revenue (stock options) $ 462 $ 162 $ 976 $ 217 Selling, general and administrative (stock options) 3,791 528 8,959 698 Selling, general and administrative (Earn-Out Shares) 1,877 — 3,752 — Total stock-based compensation expense $ 6,130 $ 690 $ 13,687 $ 915

Company Background and Basis _2

Company Background and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Business Combination - Narrativ

Business Combination - Narrative (Details) $ in Millions	Oct. 06, 2021 USD ($) shares
Reverse Recapitalization [Abstract]
Recapitalization exchange ratio	1.815
Stock issued during period, shares, acquisition and reverse recapitalization (in shares)	30,858,261
Sale of stock, consideration received on transaction | $	$ 233.5
Earn-out shares (in shares)	12,500,000
Earnout period	3 years

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer, liability, revenue recognized	$ 1,600		$ 4,100
Contract with customer, performance obligation satisfied in previous period	2,400		3,000
Contract assets	1,150		1,150		$ 2,825
Deferred revenue	7,600		7,600		$ 7,600
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 163,500		$ 163,500
Customer Concentration Risk | Revenue from Contract with Customer Benchmark | Two Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk (as a percent)	29.60%		32.40%
Customer Concentration Risk | Revenue from Contract with Customer Benchmark | Three Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk (as a percent)		53%		66.70%
Customer Concentration Risk | Accounts Receivable | Three Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk (as a percent)					78.40%
Customer Concentration Risk | Accounts Receivable | Five Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk (as a percent)			74%
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 month		1 month
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 years 1 month 6 days		9 years 1 month 6 days

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 12,324	$ 8,143
Unbilled services	1,150	2,825
Total accounts receivable and unbilled services	13,474	10,968
Allowance for doubtful accounts	(301)	(269)
Total accounts receivable and unbilled services, net	$ 13,173	$ 10,699

Capitalized Software, net - Nar

Capitalized Software, net - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Capitalized software, additions	$ 20,400	$ 7,100
Capitalized software, amortization	$ 7,400	$ 3,000

Capitalized Software, net - Sch

Capitalized Software, net - Schedule of Capitalized Software, Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2022 (excluding the six months ended June 30, 2022)	$ 8,514
2023	15,714
2024	11,519
2025	$ 1,551

Capitalized Software, net - S_2

Capitalized Software, net - Schedule of Capitalized Software (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Gross Amount	$ 62,573	$ 42,192
Accumulated Amortization	(25,275)	(17,902)
Net Amount	$ 37,298	$ 24,290

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
2022 (excluding the six months ended June 30, 2022)	$ 557
2023	674
2024	599
2025	138
2026	11
2027 and thereafter	0
Total future minimum lease payments	1,979
Less imputed interest	(152)
Total lease liability	1,827
Current liabilities: Accrued expenses and other liabilities	799	$ 1,120
Operating lease liabilities	1,028	$ 1,322
Total	$ 1,827

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Compensation, including bonuses, fringe benefits, and payroll taxes	$ 6,806	$ 11,611
Professional fees, investigator fees, and pass-through expenses	2,180	3,174
Current portion of operating lease liabilities	799	1,120
Commissions payable	1,359	1,168
Other	$ 554	$ 0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other liabilities	Total accrued expenses and other liabilities
Total accrued expenses and other liabilities	$ 11,698	$ 17,073

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Liabilities:
Earn-out liability related to shareholders	$ 2,500	$ 98,900
Fair Value, Recurring
Assets:
Total	142,324	19,033
Liabilities:
Earn-out liability related to shareholders	2,500	98,900
Total	2,500	98,900
Fair Value, Recurring | Money Market Funds
Assets:
Money market funds	142,324	19,033
Fair Value, Recurring | Level 1
Assets:
Total	142,324	19,033
Liabilities:
Earn-out liability related to shareholders	0	0
Total	0	0
Fair Value, Recurring | Level 1 | Money Market Funds
Assets:
Money market funds	142,324	19,033
Fair Value, Recurring | Level 2
Assets:
Total	0	0
Liabilities:
Earn-out liability related to shareholders	0	0
Total	0	0
Fair Value, Recurring | Level 2 | Money Market Funds
Assets:
Money market funds	0	0
Fair Value, Recurring | Level 3
Assets:
Total	0	0
Liabilities:
Earn-out liability related to shareholders	2,500	98,900
Total	2,500	98,900
Fair Value, Recurring | Level 3 | Money Market Funds
Assets:
Money market funds	$ 0	$ 0

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income (loss)	$ (5,833)	$ 44,894	$ (7,715)	$ (6,826)	$ 39,061	$ (14,541)
Denominator:
Basic weighted average common shares outstanding (in shares)	115,995		7,187		115,693	6,258
Effect of dilutive securities:
Diluted weighted average common shares outstanding (in shares)	115,995		7,187		126,185	6,258
Earnings (loss) per share:
Basic (in dollars per share)	$ (0.05)		$ (1.07)		$ 0.34	$ (2.32)
Diluted (in dollars per share)	$ (0.05)		$ (1.07)		$ 0.31	$ (2.32)
Stock options
Effect of dilutive securities:
Stock options outstanding (in shares)	0		0		10,428	0
Restricted stock units
Effect of dilutive securities:
Stock options outstanding (in shares)					65

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	40,234	90,016	28,821	90,658
Redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	0	75,495	0	75,495
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	27,413	14,509	16,321	15,151
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	321
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	0	12	0	12
Earn-Out Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	12,500	0	12,500	0

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
dRX Capital AG | Novartis Pharma AG
Related Party Transaction [Line Items]
Ownership percentage	50%		50%
Investor | Pharmaceutical Products Development, LLC
Related Party Transaction [Line Items]
Revenue from related parties	$ 2.1	$ 3.6	$ 4.4	$ 8
Accounts receivable, related parties	$ 1.7		$ 1.7		$ 2
Investor | AlloVir
Related Party Transaction [Line Items]
Revenue from related parties		0.3		0.3
Affiliated Entity | Novartis Pharma AG
Related Party Transaction [Line Items]
Revenue from related parties		$ 0.2		$ 0.3

Commitment and Contingencies (D

Commitment and Contingencies (Details)	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss contingency accrual	$ 0

Earn-Out Shares - Narrative (De

Earn-Out Shares - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Oct. 06, 2021 day $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 $ / shares shares
Derivative [Line Items]
Earn-out shares (in shares)	12,500,000
Earnout period	3 years
Earnout period, threshold trading days | day	20
Earnout period, threshold trading day period | day	30
Change in fair value of earn-out liability | $		$ 20,900	$ 0	$ 96,400	$ 0
Stock-based compensation expense | $		$ 6,130	$ 690	$ 13,687	$ 915
Stockholders
Derivative [Line Items]
Earn-out shares to be received (in shares)		11,018,198		11,018,198		10,914,421
Option Holders
Derivative [Line Items]
Earn-out shares to be received (in shares)		1,481,802		1,481,802		1,585,579
Earn-Out Shares
Derivative [Line Items]
Stock-based compensation expense | $		$ 1,900		$ 3,800
Unrecognized compensation cost related to unvested stock options | $		$ 3,400		$ 3,400
Derivative Instrument, Trigger, One
Derivative [Line Items]
Earn-out shares (in shares)	5,000,000
Earnout period, stock price trigger (in dollars per share) | $ / shares	$ 15
Fair value of earn-out shares (in dollars per share) | $ / shares		$ 0.29		$ 0.29		$ 10.35
Derivative Instrument, Trigger, One | Earn-Out Shares
Derivative [Line Items]
Unrecognized compensation cost related to unvested stock options, period for recognition				3 months 18 days
Derivative Instrument, Trigger, Two
Derivative [Line Items]
Earn-out shares (in shares)	7,500,000
Earnout period, stock price trigger (in dollars per share) | $ / shares	$ 20
Fair value of earn-out shares (in dollars per share) | $ / shares		$ 0.18		$ 0.18		$ 8.20
Derivative Instrument, Trigger, Two | Earn-Out Shares
Derivative [Line Items]
Unrecognized compensation cost related to unvested stock options, period for recognition				8 months 12 days

Earn-Out Shares - Fair Value Me

Earn-Out Shares - Fair Value Measurement Inputs and Valuation Techniques (Details) - Earn-Out Shares - Valuation Technique, Option Pricing Model	Jun. 30, 2022 yr $ / shares	Dec. 31, 2021 $ / shares yr
Stock price
Derivative [Line Items]
Derivative liability, measurement input | $ / shares	2.01	12.47
Expected volatility
Derivative [Line Items]
Derivative liability, measurement input	0.750	0.550
Risk-free interest rate
Derivative [Line Items]
Derivative liability, measurement input	0.0294	0.0091
Forecast period (in years)
Derivative [Line Items]
Derivative liability, measurement input | yr	2.3	2.8

Earn-Out Shares - Fair Value, L

Earn-Out Shares - Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair value, beginning balance	$ 98,900
Change in fair value related to option holder forfeitures	172
Change in fair value related to share valuation inputs	(96,572)
Total change in fair value recognized in earnings	(96,400)
Fair value, ending balance	$ 2,500

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Thousands	1 Months Ended	6 Months Ended
	May 31, 2022	Jun. 30, 2022 USD ($) plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity-based compensations plans | plan		1
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount | $		$ 71,300
Unrecognized compensation cost related to unvested stock options, period for recognition		2 years 10 months 9 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Stock-Based Compensation - Shar

Stock-Based Compensation - Share-based Payment Arrangement, Option, Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Options
Outstanding beginning balance (in shares) | shares	25,425
Granted (in shares) | shares	4,137
Exercised (in shares) | shares	(1,261)
Forfeited (in shares) | shares	(1,743)
Outstanding ending balance (in shares) | shares	26,558
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share) | $ / shares	$ 5.30
Granted (in dollars per share) | $ / shares	10.93
Exercised (in dollars per share) | $ / shares	0.58
Forfeited (in dollars per share) | $ / shares	7.84
Outstanding ending balance (in dollars per share) | $ / shares	$ 6.24

Stock-Based Compensation - Sh_2

Stock-Based Compensation - Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Details) - Restricted stock units $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Number of RSUs
Outstanding beginning balance (in shares) | shares	0
Granted (in shares) | shares	877,000
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(10,000)
Outstanding ending balance (in shares) | shares	867,000
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	3.51
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	3.79
Outstanding ending balance (in dollars per share) | $ / shares	$ 3.50
Aggregate Fair Value
Outstanding | $	$ 3,035

Stock-Based Compensation - Sh_3

Stock-Based Compensation - Share-based Payment Arrangement, Expensed and Capitalized, Amount (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 6,130	$ 690	$ 13,687	$ 915
Earn-Out Shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,900		3,800
Cost of revenues | Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	462	162	976	217
Selling, general and administrative expenses | Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,791	528	8,959	698
Selling, general and administrative expenses | Earn-Out Shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 1,877	$ 0	$ 3,752	$ 0