SomaLogic (SLGCW) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-39796
Entity Registrant Name	SOMALOGIC, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-4298912
Entity Address, Address Line One	2945 Wilderness Place
Entity Address, City or Town	Boulder
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80301
City Area Code	303
Local Phone Number	625-9000
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		181,172,759
Entity Central Index Key	0001837412
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	SLGC
Security Exchange Name	NASDAQ
Public Warrants and Private Placement Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Common Stock
Trading Symbol	SLGCW
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	$ 468,708	$ 164,944
Investments	206,995	39,954
Accounts receivable, net	14,690	17,449
Inventory	10,646	7,020
Deferred costs of services	883	1,450
Prepaid expenses and other current assets	5,414	1,158
Total current assets	707,336	231,975
Non-current inventory	3,810	6,024
Property and equipment, net	6,487	3,913
Other long-term assets	908	378
Total assets	718,541	242,290
Current liabilities
Accounts payable	11,340	7,064
Accrued liabilities	6,489	6,310
Deferred revenue	3,998	1,762
Deferred rent	59	238
Current portion of long-term debt	0	2,423
Total current liabilities	21,886	17,797
Warrant liabilities	36,340	0
Earn-out liability	30,678	0
Deferred revenue, net of current portion	2,627	3,415
Convertible debt	0	1,926
Long-term debt	0	32,326
Other long-term liabilities	1,111	909
Total liabilities	92,642	56,373
Commitments and contingencies
Stockholders’ equity (deficit)
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding at September 30, 2021 and December 31, 2020	0	0
Common stock, $0.0001 par value; 600,000,000 shares authorized; 181,164,377 and 114,266,515 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	18	11
Additional paid-in capital	1,101,499	597,274
Accumulated other comprehensive loss	(12)	(2)
Accumulated deficit	(475,606)	(411,366)
Total stockholders’ equity (deficit)	625,899	185,917
Total liabilities and stockholders’ equity (deficit)	$ 718,541	$ 242,290

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
Revenues [Abstract]
Collaboration revenue	$ 763	$ 763	$ 2,288	$ 1,720
Other revenue	1,655	1,637	7,306	2,636
Total revenue	19,992	14,233	58,632	27,666
Operating expenses
Research and development	15,596	6,884	32,304	23,180
Selling, general and administrative	20,632	8,337	48,274	26,755
Total operating expenses	44,998	20,134	103,578	62,315
Loss from operations	(25,006)	(5,901)	(44,946)	(34,649)
Other (expense) income
Interest income and other, net	55	13	126	138
Interest expense	(2)	(1,595)	(1,324)	(9,590)
Change in fair value of warrant liabilities	(8,111)	0	(8,111)	0
Change in fair value of earn-out liability	(5,662)	0	(5,662)	0
Loss on extinguishment of debt, net	(2,693)	0	(4,323)	0
Total other expense	(16,413)	(1,582)	(19,294)	(9,452)
Net loss	(41,419)	(7,483)	(64,240)	(44,101)
Other comprehensive loss
Net unrealized loss on available-for-sale securities	(15)	(3)	(7)	(23)
Foreign currency translation loss	(4)	(2)	(3)	(6)
Total other comprehensive loss	(19)	(5)	(10)	(29)
Comprehensive loss	$ (41,438)	$ (7,488)	$ (64,250)	$ (44,130)
Net loss per share, basic (in dollars per share)	$ (0.55)	$ (0.12)	$ (1.01)	$ (0.72)
Net loss per share, diluted (in dollars per share)	$ (0.55)	$ (0.12)	$ (1.01)	$ (0.72)
Weighted-average shares used in computing net loss per share, basic (in shares)	75,684,521	61,099,901	63,752,006	60,934,489
Weighted-average shares used in computing net loss per share, diluted (in shares)	75,684,521	61,099,901	63,752,006	60,934,489
Assay services revenue
Revenues [Abstract]
Revenue	$ 17,499	$ 11,378	$ 48,308	$ 22,166
Operating expenses
Cost of revenue	8,737	4,750	22,548	11,883
Product revenue
Revenues [Abstract]
Revenue	75	455	730	1,144
Operating expenses
Cost of revenue	$ 33	$ 163	$ 452	$ 497

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Previously Reported	Revision of Prior Period, Adjustment	Common Stock	Common StockPreviously Reported	Common StockRevision of Prior Period, Adjustment	Treasury Stock	Treasury StockPreviously Reported	Treasury StockRevision of Prior Period, Adjustment	Additional Paid-In Capital	Additional Paid-In CapitalPreviously Reported	Additional Paid-In CapitalRevision of Prior Period, Adjustment	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Previously Reported	Accumulated Deficit	Accumulated DeficitPreviously Reported
Convertible preferred stock, beginning balance (in shares) at Dec. 31, 2019	0	0
Convertible preferred stock, beginning balance at Dec. 31, 2019	$ 0	$ 0
Convertible preferred stock, ending balance (in shares) at Mar. 31, 2020	0
Convertible preferred stock, ending balance at Mar. 31, 2020	$ 0
Common stock, beginning balance (in shares) at Dec. 31, 2019				60,799,502	72,657,092	(11,857,590)	0	(112,645)	112,645
Common stock, beginning balance at Dec. 31, 2019	20,420	$ 20,420	$ 0	$ 6	$ 727	$ (721)	$ 0	$ (347)	$ 347	$ 378,738	$ 378,364	$ 374	$ 27	$ 27	$ (358,351)	$ (358,351)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)				18,019
Issuance of Common Stock upon exercise of options	38									38
Issuance of Common Stock for services	115									115
Stock-based compensation	3,039									3,039
Surrender of shares in cashless exercise (in shares)				(481)
Surrender of shares in cashless exercise	5									5
Other comprehensive loss	(18)												(18)
Other	148									148
Net loss	(17,579)														(17,579)
Common stock, ending balance (in shares) at Mar. 31, 2020				60,817,040			0
Common stock, ending balance at Mar. 31, 2020	$ 6,158			$ 6			$ 0			382,073			9		(375,930)
Convertible preferred stock, beginning balance (in shares) at Dec. 31, 2019	0	0
Convertible preferred stock, beginning balance at Dec. 31, 2019	$ 0	$ 0
Convertible preferred stock, ending balance (in shares) at Sep. 30, 2020	0
Convertible preferred stock, ending balance at Sep. 30, 2020	$ 0
Common stock, beginning balance (in shares) at Dec. 31, 2019				60,799,502	72,657,092	(11,857,590)	0	(112,645)	112,645
Common stock, beginning balance at Dec. 31, 2019	20,420	$ 20,420	$ 0	$ 6	$ 727	$ (721)	$ 0	$ (347)	$ 347	378,738	378,364	374	27	27	(358,351)	(358,351)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock for services	189
Other comprehensive loss	(29)
Net loss	(44,101)
Common stock, ending balance (in shares) at Sep. 30, 2020				61,326,397			0
Common stock, ending balance at Sep. 30, 2020	$ (12,914)			$ 6			$ 0			389,534			(2)		(402,452)
Convertible preferred stock, beginning balance (in shares) at Mar. 31, 2020	0
Convertible preferred stock, beginning balance at Mar. 31, 2020	$ 0
Convertible preferred stock, ending balance (in shares) at Jun. 30, 2020	0
Convertible preferred stock, ending balance at Jun. 30, 2020	$ 0
Common stock, beginning balance (in shares) at Mar. 31, 2020				60,817,040			0
Common stock, beginning balance at Mar. 31, 2020	6,158			$ 6			$ 0			382,073			9		(375,930)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)				152,464
Issuance of Common Stock upon exercise of options	247									247
Issuance of Common Stock for services (in shares)				73,752
Issuance of Common Stock for services	38									38
Stock-based compensation	3,555									3,555
Other comprehensive loss	(6)												(6)
Net loss	(19,039)														(19,039)
Common stock, ending balance (in shares) at Jun. 30, 2020				61,043,256			0
Common stock, ending balance at Jun. 30, 2020	$ (9,047)			$ 6			$ 0			385,913			3		(394,969)
Convertible preferred stock, ending balance (in shares) at Sep. 30, 2020	0
Convertible preferred stock, ending balance at Sep. 30, 2020	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)				283,141
Issuance of Common Stock upon exercise of options	534									534
Issuance of Common Stock for services	37									37
Stock-based compensation	3,050									3,050
Other comprehensive loss	(5)												(5)
Net loss	(7,483)														(7,483)
Common stock, ending balance (in shares) at Sep. 30, 2020				61,326,397			0
Common stock, ending balance at Sep. 30, 2020	$ (12,914)			$ 6			$ 0			389,534			(2)		(402,452)
Convertible preferred stock, beginning balance (in shares) at Dec. 31, 2020	0	31,485,973	(31,485,973)
Convertible preferred stock, beginning balance at Dec. 31, 2020	$ 0	$ 202,116	$ (202,116)
Convertible preferred stock, ending balance (in shares) at Mar. 31, 2021	0
Convertible preferred stock, ending balance at Mar. 31, 2021	$ 0
Common stock, beginning balance (in shares) at Dec. 31, 2020	114,266,515			114,266,515	73,481,228	40,785,287	0	(113,220)	113,220
Common stock, beginning balance at Dec. 31, 2020	$ 185,917	$ (16,199)	$ 202,116	$ 11	$ 735	$ (724)	$ 0	$ (352)	$ 352	597,274	394,786	202,488	(2)	(2)	(411,366)	(411,366)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)				411,789
Issuance of Common Stock upon exercise of options	877									877
Issuance of Common Stock for services (in shares)				162,737
Issuance of Common Stock for services	114									114
Stock-based compensation	3,140									3,140
Surrender of shares in cashless exercise (in shares)				(15,189)
Surrender of shares in cashless exercise	56									56
Other comprehensive loss	(5)												(5)
Net loss	(9,484)														(9,484)
Common stock, ending balance (in shares) at Mar. 31, 2021				114,825,852			0
Common stock, ending balance at Mar. 31, 2021	$ 180,503			$ 11			$ 0			601,349			(7)		(420,850)
Convertible preferred stock, beginning balance (in shares) at Dec. 31, 2020	0	31,485,973	(31,485,973)
Convertible preferred stock, beginning balance at Dec. 31, 2020	$ 0	$ 202,116	$ (202,116)
Convertible preferred stock, ending balance (in shares) at Sep. 30, 2021	0
Convertible preferred stock, ending balance at Sep. 30, 2021	$ 0
Common stock, beginning balance (in shares) at Dec. 31, 2020	114,266,515			114,266,515	73,481,228	40,785,287	0	(113,220)	113,220
Common stock, beginning balance at Dec. 31, 2020	$ 185,917	$ (16,199)	$ 202,116	$ 11	$ 735	$ (724)	$ 0	$ (352)	$ 352	597,274	$ 394,786	$ 202,488	(2)	$ (2)	(411,366)	$ (411,366)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)	976,563
Issuance of Common Stock for services	$ 535
Other comprehensive loss	(10)
Net loss	$ (64,240)
Common stock, ending balance (in shares) at Sep. 30, 2021	181,164,377			181,164,377			0
Common stock, ending balance at Sep. 30, 2021	$ 625,899			$ 18			$ 0			1,101,499			(12)		(475,606)
Convertible preferred stock, beginning balance (in shares) at Mar. 31, 2021	0
Convertible preferred stock, beginning balance at Mar. 31, 2021	$ 0
Convertible preferred stock, ending balance (in shares) at Jun. 30, 2021	0
Convertible preferred stock, ending balance at Jun. 30, 2021	$ 0
Common stock, beginning balance (in shares) at Mar. 31, 2021				114,825,852			0
Common stock, beginning balance at Mar. 31, 2021	180,503			$ 11			$ 0			601,349			(7)		(420,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)				545,677
Issuance of Common Stock upon exercise of options	1,915									1,915
Issuance of Common Stock for services	150									150
Stock-based compensation	4,614									4,614
Other comprehensive loss	14												14
Net loss	(13,337)														(13,337)
Common stock, ending balance (in shares) at Jun. 30, 2021				115,371,529			0
Common stock, ending balance at Jun. 30, 2021	$ 173,859			$ 11			$ 0			608,028			7		(434,187)
Increase (Decrease) in Temporary Equity [Roll Forward]
Effect of Business Combination, net of transaction costs of $35,972,969 (in shares)	0
Issuance of Common Stock upon Business Combination, net of transaction costs of $31,511	$ 0
Convertible preferred stock, ending balance (in shares) at Sep. 30, 2021	0
Convertible preferred stock, ending balance at Sep. 30, 2021	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon exercise of options (in shares)				19,116
Issuance of Common Stock upon exercise of options	63									63
Issuance of Common Stock for services (in shares)				12,342
Issuance of Common Stock for services	273									273
Stock-based compensation	11,742									11,742
Issuance of Common Stock upon conversion of convertible debt (in shares)				571,642
Issuance of Common Stock upon conversion of convertible debt	4,631									4,631
Issuance of Common Stock upon Business Combination, net of transaction costs of $31,511 (in shares)				28,689,748
Issuance of Common Stock upon Business Combination, net of transaction costs of $31,511	119,571			$ 3						119,568
Issuance of Common Stock upon PIPE Investment, net of transaction costs of $7,802 (in shares)				36,500,000
Issuance of Common Stock upon PIPE Investment, net of transaction costs of $7,802	357,198			$ 4						357,194
Other comprehensive loss	(19)												(19)
Net loss	$ (41,419)														(41,419)
Common stock, ending balance (in shares) at Sep. 30, 2021	181,164,377			181,164,377			0
Common stock, ending balance at Sep. 30, 2021	$ 625,899			$ 18			$ 0			$ 1,101,499			$ (12)		$ (475,606)
Convertible preferred stock, ending balance (in shares) at Sep. 01, 2021	31,485,973
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock upon PIPE Investment, net of transaction costs of $7,802 (in shares)	36,500,000
Common stock, ending balance (in shares) at Sep. 01, 2021	181,163,363

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (64,240)	$ (44,101)
Adjustments to reconcile net loss to cash used in operating activities:
Stock-based compensation expense	20,700	9,833
Depreciation and amortization	1,909	2,079
Amortization of debt issuance costs, discounts and premiums	258	1,573
Change in fair value of compound derivative liability	7	4,846
Change in fair value of warrant liabilities	8,111	0
Change in fair value of earn-out liability	5,662	0
Amortization of premium (accretion of discount) on available-for-sale securities, net	276	(62)
Provision (recovery) for excess and obsolete inventory	623	(295)
(Recovery) provision for doubtful accounts	(14)	15
Loss on extinguishment of debt, net	4,323	0
Paid-in-kind interest	165	329
Other	11	47
Changes in operating assets and liabilities:
Accounts receivable	2,773	(3,526)
Prepaid expenses and other current assets	(4,228)	(84)
Inventory	(2,035)	(225)
Deferred costs of services	567	(2,273)
Other long-term assets	0	(15)
Accounts payable	1,992	2,437
Deferred revenue	1,448	664
Accrued and other liabilities	(2)	1,007
Payment of paid-in-kind interest on extinguishment of debt	(752)	0
Net cash used in operating activities	(22,446)	(27,751)
Investing activities
Proceeds from sale of property and equipment	8	0
Purchase of property and equipment	(3,021)	(689)
Purchase of available-for-sale securities	(241,891)	(5,738)
Proceeds from sales and maturities of available-for-sale securities	74,567	37,273
Net cash (used in) provided by investing activities	(170,337)	30,846
Financing activities
Repayment of long-term debt	(36,512)	0
Proceeds from PIPE Investment, net of transaction costs	357,198	0
Proceeds from Business Combination, net of transaction costs	173,601	0
Proceeds from Paycheck Protection Program loan	0	3,520
Proceeds from SAFE agreement	0	5,000
Proceeds from exercise of stock options	2,801	815
Net cash provided by financing activities	497,088	9,335
Effect of exchange rates on cash, cash equivalents and restricted cash	(11)	(15)
Net increase in cash, cash equivalents and restricted cash	304,294	12,415
Cash, cash equivalents and restricted cash at beginning of period	165,194	14,310
Cash, cash equivalents and restricted cash at end of period	469,488	26,725
Supplemental cash flow information:
Cash paid for interest	1,627	2,827
Supplemental disclosure of non-cash investing and financing activities:
Purchase of property and equipment included in accounts payable	1,471	185
Surrender of shares in cashless exercise	56	5
Amendment fee related to extinguishment of debt financed through additional principal	0	2,500
Issuance of Common Stock for services	535	189
Transaction costs included in accounts payable	743	0
Forgiveness of Paycheck Protection Program loan and accrued interest	3,561	0
Issuance of Common Stock for conversion of convertible debt	4,631	0
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	468,708	26,475
Restricted cash included in other long-term assets	780	250
Total cash, cash equivalents and restricted cash at end of period	$ 469,488	$ 26,725

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000
Common stock, shares issued (in shares)	181,164,377	114,266,515
Common stock, shares outstanding (in shares)	181,164,377	114,266,515

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Parenthetical) $ in Thousands	3 Months Ended
	Sep. 30, 2021USD ($)
Statement of Stockholders' Equity [Abstract]
Acquisition, transaction costs	$ 31,511
PIPE investment, transaction costs	$ 7,802

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Organization and Operations SomaLogic Operating Co., Inc. (formerly SomaLogic, Inc., and herein “SomaLogic Operating") was incorporated in the state of Delaware on October 13, 1999 and is headquartered in Boulder, Colorado. SomaLogic Operating is a protein biomarker discovery and clinical diagnostics company that develops slow-offrate modified aptamers (“SOMAmers ® ”), which are modified nucleic acid-based protein binding reagents that are specific for their cognate protein, and offer proprietary SomaScan ® services, which provide multiplex protein detection and quantification of protein levels in complex biological samples. The SOMAmers ® /SomaScan ® technology enables researchers to analyze various types of biological samples for protein biomarker signatures, which can be utilized in drug discovery and development. Biomarker discoveries from SomaScan ® can lead to diagnostic applications in various areas of diseases including cardiovascular and metabolic disease, nonalcoholic steatohepatitis, and wellness, among others. CM Life Sciences II Inc. (“CMLS II”) is a blank check company incorporated as a Delaware corporation on December 15, 2020. CMLS II was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. On September 1, 2021 (the “Closing Date”), we consummated the business combination (the “Business Combination”) contemplated by the Merger Agreement (as amended, the “Merger Agreement”), dated March 28, 2021 by and among CMLS II, S-Craft Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of CMLS II (“Merger Sub”), and SomaLogic Operating ("Old SomaLogic"). Pursuant to the Merger Agreement, Merger Sub merged with and into Old SomaLogic, with Old SomaLogic surviving the merger as a wholly-owned subsidiary of CMLS II. Upon the closing of the Business Combination (the “Closing”), CMLS II changed its name to SomaLogic, Inc., and Old SomaLogic changed its name to SomaLogic Operating Co., Inc. Unless the context otherwise requires, the terms “we”, “us”, “our”, “SomaLogic" and “the Company" refer to Old SomaLogic, SomaLogic, Inc., or the combined company and its subsidiaries following the Business Combination. See Note 2, Summary of Significant Accounting Policies—Presentation of Amounts After the Business Combination , and Note 3, Business Combination , for more details of the Business Combination and the presentation of historical amounts and balances after the Business Combination. The Company's Common Stock and warrants to purchase Common Stock are now listed on the Nasdaq under the ticker symbols “SLGC” and "SLGCW". COVID-19 Pandemic The Company is subject to ongoing uncertainty concerning the Coronavirus Disease 2019 (COVID-19) pandemic, including its length and severity and its effect on the Company’s business. The COVID-19 pandemic resulted in delays in fundraising efforts and revenue during fiscal year 2020. In response, the Company took aggressive actions to reduce spend and contain costs including implementing a hiring freeze, eliminating travel, executing early lease terminations for two administrative buildings in Boulder, Colorado, as well as closing the Company’s Oxford, United Kingdom laboratory. The Company experienced notable shifts in research funding in the pharmaceutical industry to COVID-19 research, largely delaying revenue from the first half of 2020 to the second half of 2020. The Company modified its Amended and Restated Credit Agreement in the second and fourth quarters of 2020 in order to avoid noncompliance with financial and nonfinancial covenants (see Note 10, Debt ). The COVID-19 pandemic continues to be dynamic and near-term challenges across the economy remain. The Company expects continued volatility and unpredictability related to the impact of COVID-19 on business results. The Company continues to actively monitor the pandemic and will continue to take appropriate steps to mitigate the adverse impacts on the business posed by the on-going spread of COVID-19.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated interim financial statements and accompanying notes include the accounts of SomaLogic and our wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”). Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements of Old SomaLogic as of and for the year ended December 31, 2020, and of CMLS II as of December 31, 2020 and for the period from December 15, 2020 (inception) through December 31, 2020. The December 31, 2020 condensed consolidated balance sheet presented herein was derived from Old SomaLogic’s audited consolidated financial statements. These unaudited condensed consolidated interim financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include normal recurring adjustments considered necessary for a fair presentation of interim financial information, to present fairly the Company’s condensed consolidated financial position and its results of operations and cash flows. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any other future annual or interim period. Basis for Financial Balances After the Business Combination The Business Combination was accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, CMLS II is treated as the “acquired” company for financial reporting purposes and Old SomaLogic is treated as the accounting acquirer. This determination was primarily based on the following: • the Old SomaLogic stockholders hold the majority of voting rights in the Company; • Old SomaLogic had the right to designate a majority of members of the board of directors of the Company immediately after giving effect to the Business Combination; • the senior management of Old SomaLogic comprises the senior management of the Company; and • the operations of Old SomaLogic comprise the ongoing operations of the Company. Accordingly, for accounting purposes, our financial statements represent a continuation of the financial statements of Old SomaLogic with the Business Combination being treated as the equivalent of Old SomaLogic issuing stock for the net assets of the CMLS II, accompanied by a recapitalization. The net assets of Old SomaLogic are stated at historical cost, with no goodwill or other intangible assets recorded. In connection with the Business Combination each share of Old SomaLogic Class B common stock (including shares of Old SomaLogic Class B common stock resulting from the deemed conversion of Old SomaLogic redeemable convertible preferred stock) converted into the right to receive 0.8381 shares (the "Exchange Ratio”) of our Class A common stock, par value $0.0001, (“Common Stock”). The recapitalization of the number of shares of our Common Stock is reflected retrospectively to the earliest period presented, based upon the Exchange Ratio, and is utilized for calculating net loss per share in all prior periods presented. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods. Actual results could differ from those estimates. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition, inventory valuation, compound derivative liability valuation, the valuation of stock-based compensation awards, warrant liabilities valuations, and earn-out liability valuations. We base our estimates on current facts, historical and anticipated results, trends, and other relevant assumptions that we believe are reasonable under the circumstances. Actual results could differ from these estimates, and such differences could be material to the Company’s consolidated financial position and results of operations. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, investments, and accounts receivable. Our cash and cash equivalents are deposited with high-quality financial institutions. Deposits at these institutions may, at times, exceed federally insured limits. Significant customers are those that represent more than 10% of the Company’s total revenues or gross accounts receivable balances for the periods and as of each balance sheet date presented. For each significant customer, revenue as a percentage of total revenues and gross accounts receivable as a percentage of total gross accounts receivable as of the periods presented were as follows: Accounts Receivable Revenue September 30, 2021 December 31, 2020 Three months ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Customer A 36% 26% 27 % 23 % 24 % 35 % Customer B * 11% * 39 % 17 % 20 % Customer C 10% 25% * 11 % 11 % * Customer D * 16% * * * * Customer E 11% * * * * * * less than 10% Customers outside of the United States collectively represented 18% and 6% of the Company’s gross accounts receivable balance as of September 30, 2021 and December 31, 2020, respectively. Certain components included in our products require customization and are obtained from a single source or a limited number of suppliers. Inventory Inventory is stated at the lower of cost (on a first-in, first-out basis) or net realizable value. Cost is determined using a standard cost system, whereby the standard costs are updated periodically to reflect current costs. The Company estimates the recoverability of inventory by referencing estimates of future demands and product life cycles, including expiration. The Company periodically analyzes its inventory levels to identify inventory that may expire prior to expected usage, no longer meets quality specifications, or has a cost basis in excess of its estimated net realizable value and records a charge to cost of revenue for such inventory as appropriate. The value of inventory that is not expected to be used within 12 months of the balance sheet date is classified as non-current inventory in the accompanying condensed consolidated balance sheets. Warrant Liabilities During February 2021, in connection with CMLS II’s initial public offering, CMLS II issued 5,519,991 warrants (the “Public Warrants”) to purchase shares of Common Stock at $11.50 per share. Simultaneously, with the consummation of the CMLS II initial public offering, CMLS II issued 5,013,333 warrants through a private placement (the “Private Placement Warrants”, and together with the Public Warrants, the “Warrants”) to purchase shares of Common Stock at $11.50 per share. All of the Warrants were outstanding as of September 30, 2021. We classify the Warrants as liabilities on our condensed consolidated balance sheet as these instruments are precluded from being indexed to our own stock given that the terms allow for a settlement adjustment that does not meet the scope for the fixed-for-fixed exception in ASC 815, Derivatives and Hedging (“ASC 815”). Since the Warrants meet the definition of a derivative under ASC 815-40, the Company recorded these warrants as long-term liabilities at fair value on the date of the Business Combination, with subsequent changes in their respective fair values recognized within change in fair value of warrant liabilities in the condensed consolidated statements of operations and comprehensive loss at each reporting date. See Note 11, Stockholders' Equity , for more information on the Warrants. Earn-Out Liability As a result of the Business Combination, the Company recognized Earn-Out Shares (defined below) contingently issuable to former stockholders of Old SomaLogic as a liability in accordance with ASC 815. The liability was included as part of the consideration transferred in the Business Combination and was recorded at fair value. The earn-out liability is remeasured at the end of each reporting period, with the corresponding gain or loss recorded within change in fair value of earn-out liability in the condensed consolidated statements of operations and comprehensive loss. See Note 3, Business Combination , for more information on the Earn-Out Shares and liability. Revenue Recognition The Company recognizes revenue from sales to customers under ASC 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 provides a five-step model for recognizing revenue that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. The Company recognizes revenue when or as control of promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales, value add, and other taxes collected concurrent with revenue-producing activities are excluded from revenue and products are sold without the right of return. Payment terms may vary by customer, are based on customary commercial terms, and are generally less than one year. The Company does not adjust revenue for the effects of a significant financing component for contracts where the period between the transfer of the good or service and collection is one year or less. The Company expenses incremental costs to obtain a contract when incurred since the amortization period of the asset that would otherwise be recognized is one year or less. Assay Services Revenue The Company generates assay services revenue primarily from the sale of SomaScan ® services. SomaScan ® service revenue is derived from performing the SomaScan ® assay on customer samples to generate data on protein biomarkers. Revenue from SomaScan ® services is recognized at the time the analysis data or report is delivered to the customer, which is when control has been transferred to the customer. SomaScan ® services are sold at a fixed price per sample without any volume discounts, rebates, or refunds. The delivery of each assay data report is a separate performance obligation. For arrangements with multiple performance obligations, the transaction price must be allocated to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation as there are few directly comparable products in the market and factors such as customer size are factored into the determination of selling price. We determine standalone selling prices based on amounts invoiced to customers in observable transactions. Product Revenue Product revenue primarily consists of kit sales to customers who assay samples in their own laboratories. The Company receives a fixed price per kit and revenue from product sales is recognized upon transfer of control to the customer. The principal terms of sale are freight on board (“FOB”) shipping point and as such, the Company transfers control and records revenue for product sales upon shipment. Shipping and handling costs billed to customers are included in product revenue in the condensed consolidated statements of operations and comprehensive loss. Collaboration Revenue In July 2011, NEC Corporation (“NEC”) and the Company entered into a Strategic Alliance Agreement (the “SAA”) to develop a professional software tool to enable SomaScan ® customers to easily access and interpret the highly multiplexed proteomic data generated by SomaLogic’s SomaScan ® assay technology in the United States. To support this development, NEC made an upfront payment of $12.0 million and SomaLogic agreed to pay NEC a perpetual royalty on certain SomaScan ® revenues. This agreement includes a clause whereby if there is a material breach of the contract or change in control of the Company, the Company may be required to pay a fee to terminate the agreement. The Company determined that the SAA met the criteria set forth in ASC 808, Collaborative Arrangements , (“ASC 808”) because both parties were active participants and were exposed to significant risks and rewards dependent on commercial failure or success. The Company recorded the upfront payment as deferred revenue to be recognized over the period of performance of 15 years. The revenue was recorded in collaboration revenue in the condensed consolidated statements of operations and comprehensive loss. In March 2020, NEC and the Company mutually terminated the SAA and concurrently the Company and NEC Solution Innovators, Ltd. (“NES”), a wholly owned subsidiary of NEC, entered into a new arrangement, the Joint Development and Commercialization Agreement (the “JDCA”), to develop and commercialize SomaScan ® services in Japan. NES agreed to make annual payments of $2 million for five years, for a total of $10.0 million, in exchange for research and development activities, as described below. The Company determined the JDCA should be accounted for as a modification of the SAA. Therefore, the remaining SAA deferred revenue balance as of the date of the modification was included as consideration under the JDCA resulting in total consideration of $15.3 million for research and development activities. We determined that this arrangement also meets the criteria set forth in ASC 808. The JDCA contains three separate performance obligations: (i) research and development activities, (ii) assay services, and (iii) a 10-year exclusive license of the Company’s intellectual property. (i) Research and Development Activities The Company determined that NES is not a customer with respect to the research and development activities associated with the collaboration arrangement under ASC 808. The Company’s efforts related to the research and development activities are incurred consistently throughout the performance period. As a result, the Company recognizes revenue from these activities over time on a straight-line basis and records revenue in collaboration revenue in the condensed consolidated statements of operations and comprehensive loss. (ii) Assay Services The Company determined that NES is a customer for the assay services performance obligation, which should be accounted for using the criteria under ASC 606. The Company receives a fixed fee (standalone selling price) per sample in exchange for assaying samples, which is a service performed for other customers in the ordinary course of business. This performance obligation is recognized at a point in time when the assay data report is delivered to the customer and recorded in assay services revenue in the condensed consolidated statements of operations and comprehensive loss. (iii) License of Intellectual Property The Company determined that NES is a customer for the license performance obligation, which should be accounted for using the criteria under ASC 606. The Company receives royalties based on NES’ net sales and determined the allocation of royalties solely to this performance obligation is consistent with the objectives in ASC 606. This performance obligation was satisfied at the beginning of the license term. Subject to the sales and usage-based royalty exception, revenue is recognized in the period in which the subsequent sale or usage has occurred. Royalties are recorded in other revenue in the condensed consolidated statements of operations and comprehensive loss. Other Revenue Other revenue includes royalty revenue and revenue received from research grants. The Company recognizes royalty revenue for fees paid by customers in return for the exclusive license to make, use or sell certain licensed products in certain geographic areas. These fees are equivalent to a percentage of the customer’s related revenues. The Company recognizes revenue for sales-based or usage-based royalties promised in exchange for a license of intellectual property when the later of the following events occurs: (i) the subsequent sale or usage occurs, or (ii) the performance obligation to which some or all of the sales-based or usage-based royalty has been satisfied. As such, revenue is recognized in the period in which the subsequent sale or usage has occurred. In June 2008, the Company and New England Biolabs, Inc. (“NEB”) entered into an exclusive licensing agreement, whereby the Company provides a license to use certain proprietary information and know-how relating to its aptamer technology to make and use commercial products. In exchange, the Company receives royalties from NEB for these products. The Company recognized royalties of approximately $1.5 million and $1.6 million for the three months ended September 30, 2021 and 2020, respectively, and $6.6 million and $2.6 million for the nine months ended September 30, 2021 and 2020, respectively. Grant revenue represents funding under cost reimbursement programs from government agencies and non-profit foundations for qualified research and development activities performed by the Company. The Company recognizes grant revenue when it is reasonably assured that the grant funding will be received as evidenced through the existence of a grant arrangement, amounts eligible for reimbursement are determinable and have been incurred, the applicable conditions under the grant arrangements have been met, and collectability of amounts due is reasonably assured. The classification of costs incurred related to grants is based on the nature of the activities performed by the Company. Grant revenue is recognized when the related costs are incurred and recorded in other revenue in the condensed consolidated statements of operations and comprehensive loss. Segment Information The Company has one operating segment. The Company’s chief operating decision maker (the “CODM”) role is performed by the Company’s Chief Executive Officer. The CODM manages the Company’s operations on a consolidated basis for purposes of allocating resources and assessing performance. Substantially all of the Company’s operations and decision-making functions are located in the United States. Recent Accounting Pronouncements We are an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to avail itself of this extended transition period and, as a result, we will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies so long as we remain an emerging growth company. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in an Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendment also simplifies the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity's Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendment revises the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity's ability to rebut the presumption. ASC 2020-06 is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. ASU 2020-06 may be adopted through either a modified retrospective method of transition or a fully retrospective method of transition. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions related to contract modifications and hedge accounting to address the transitions from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The guidance permits an entity to consider contract modification due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. The standard is effective upon issuance and can be applied as of March 12, 2020 through December 31, 2022. The Company does not expect the adoption of the standard to have a material impact on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which removes certain exceptions to the general principles of ASC 740 as part of an overall simplification initiative. The effective date for the standard is for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is currently evaluating the impact the standard may have on its 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 , which sets forth a “current expected credit loss” (CECL) model that requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. In November 2019, the FASB issued ASU 2019-10, Financial Instrum ents — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which extends the effective date of ASU 2016-13 for non-public business entities to fiscal years beginning after December 15, 2022 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. In June 2020, the FASB issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities , which extended the effective date of ASU 2016-02 for non-public business entities to fiscal years beginning after December 31, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company anticipates that it will elect to adopt the practical expedient to not separate lease and non-lease components. The Company also anticipates that it will elect to adopt the package of practical expedients, which allows it to not reassess: 1) whether any expired or existing contracts are or contain leases, 2) the lease classification for any expired or existing leases and 3) initial direct costs for any existing leases. The Company will elect to not recognize on the balance sheet leases with terms of 12 months or less. For these short-term leases, the Company will recognize the lease payments in profit or loss on a straight-line basis over the lease term and any variable lease payments in the period in which the obligation for those payments is incurred. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination As described in Note 1, Description of Business—Organization and Operations , we consummated the Merger Agreement on the Closing Date. Pursuant to the terms of the Merger Agreement, the merger consideration payable to stockholders of Old SomaLogic at the Closing Date was $1.25 billion, consisting of cash payments of $50 million and equity consideration in the form of (i) the issuance of shares of Common Stock and (ii) rollover of Old SomaLogic’s outstanding options. The number of shares of Common Stock issued to Old SomaLogic stockholders was based on a deemed value of $10.00 per share after giving effect to the Exchange Ratio. Each option of Old SomaLogic that was outstanding immediately prior to the Closing Date was assumed by SomaLogic and converted into an option to acquire an adjusted number of shares of Common Stock of SomaLogic at an adjusted exercise price per share based on the Exchange Ratio. These assumed options will continue to be governed by substantially the same terms and conditions, including vesting, as were applicable to the original instrument. Earn-Out Shares The Merger Agreement also provides additional shares of Common Stock to Old SomaLogic shareholders and to certain employees and directors of SomaLogic (“Earn-Out Service Providers”) of up to 3,500,125 and 1,499,875, respectively (the “Earn-Out Shares”). The Earn-Out Shares are payable if the price of our Common Stock is greater than or equal to $20.00 for a period of at least 20 out of 30 consecutive trading days at any time between the 13- and 24-month anniversary of the Closing Date (the “Triggering Event”). Any Earn-Out Shares issuable to an Earn-Out Service Provider shall be issued only if such individual continues to provide services (whether as an employee or director) through the date of occurrence of the corresponding Triggering Event (or a change in control acceleration event, if applicable) that causes such Earn-Out Shares to become issuable (refer to Note 13, Stock-based Compensation ). Any Earn-Out Shares that are forfeited pursuant to the preceding sentence shall be reallocated to the Old SomaLogic stockholders in accordance with their respective pro rata Earn-Out Shares. As of September 30, 2021, the contingency has not been met and, accordingly, no shares of Common Stock have been issued. PIPE (Private Investment in Public Entity) Investment In connection with the Business Combination, CMLS II entered into subscription agreements with certain institutional and accredited investors (the “PIPE Investors”), pursuant to which the PIPE Investors purchased, concurrently with the Closing, an aggregate of 36,500,000 shares of Common Stock at a purchase price of $10.00 per share for an aggregate purchase price of $365.0 million (the “PIPE Investment”). CMLS II Shares In connection with the Closing, certain CMLS II holders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 809,850 shares of CMLS II common stock at an approximate price of $10.00 per share, for an aggregate of approximately $8.1 million, which was paid to such holders at the Closing (the “CMLS II Redemption”). Immediately following the Closing, all of the 6,900,000 issued and outstanding shares of CMLS II Class B common stock (“CMLS II Founder Shares”), automatically converted, on a one-for-one basis, into shares of Common Stock in accordance with CMLS II’s amended and restated certificate of incorporation. Summary of Shares Issued The following table details the number of shares of Common Stock issued immediately following the consummation of the Business Combination: Shares CMLS II Class A common stock, outstanding prior to Business Combination 27,600,000 Less: CMLS II Redemption shares (809,850) Class A common stock of CMLS II, net of redemptions 26,790,150 Conversion of CMLS II Founder Shares for Common Stock 6,900,000 Shares issued pursuant to PIPE Investment 36,500,000 Conversion of Old SomaLogic shares for Common Stock (1) 110,973,213 Total shares of SomaLogic Common Stock, immediately after Business Combination 181,163,363 (1) The number of Old SomaLogic shares was determined as the 75,404,883 shares of Old SomaLogic Class B common stock and 31,485,973 shares of Old SomaLogic redeemable convertible preferred stock (assuming deemed conversion to Old SomaLogic Class B common stock) outstanding immediately prior to the closing of the Business Combination multiplied by the Exchange Ratio of 0.8381.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table provides information about disaggregated revenue by product line: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Assay services revenue $ 17,499 $ 11,378 $ 48,308 $ 22,166 Product revenue 75 455 730 1,144 Collaboration revenue 763 763 2,288 1,720 Other revenue: Royalties 1,520 1,627 6,570 2,608 Other 135 10 736 28 Total other revenue 1,655 1,637 7,306 2,636 Total revenue $ 19,992 $ 14,233 $ 58,632 $ 27,666 Contract Balances and Remaining Performance Obligations As of September 30, 2021 and December 31, 2020, deferred revenue was $6.6 million and $5.2 million, respectively. As of September 30, 2021 and December 31, 2020, the portion of deferred revenue related to collaboration revenue was $4.7 million and $5.0 million, respectively, which is being recognized on a straight-line basis over the period of performance. The weighted average remaining performance period is approximately 2.2 years. A summary of the change in contract liabilities is as follows: (in thousands) September 30, 2021 December 31, 2020 Balance at beginning of period $ 5,177 $ 5,469 Recognition of revenue included in balance at beginning of period (1,499) (1,003) Revenue deferred during the period, net of revenue recognized 2,947 711 Balance at end of period $ 6,625 $ 5,177

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets measured at fair value on a recurring basis The following tables set forth our financial assets measured at fair value on a recurring basis and the level of inputs used in such measurements: As of September 30, 2021 (in thousands) Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Aggregate Fair Value Fair Value Level Cash and cash equivalents: Cash $ 432,581 $ — $ — $ 432,581 Level 1 Money market funds 19,129 — — 19,129 Level 1 Commercial paper 16,998 — — 16,998 Level 2 Total cash and cash equivalents 468,708 — — 468,708 Investments: Commercial paper 174,601 11 (13) 174,599 Level 2 U.S. Treasuries 2,003 — — 2,003 Level 2 Asset-backed securities 10,115 1 (3) 10,113 Level 2 Corporate bonds 18,285 — (5) 18,280 Level 2 International government securities 2,000 — — 2,000 Level 2 Total investments 207,004 12 (21) 206,995 Total assets measured at fair value on a recurring basis $ 675,712 $ 12 $ (21) $ 675,703 As of December 31, 2020 (in thousands) Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Aggregate Fair Value Fair Value Level Cash and cash equivalents: Cash $ 138,977 $ — $ — $ 138,977 Level 1 Money market funds 23,568 — — 23,568 Level 1 Commercial paper 2,399 — — 2,399 Level 2 Total cash and cash equivalents 164,944 — — 164,944 Investments: Commercial paper 33,863 2 (2) 33,863 Level 2 Corporate bonds 6,093 — (2) 6,091 Level 2 Total investments 39,956 2 (4) 39,954 Total assets measured at fair value on a recurring basis $ 204,900 $ 2 $ (4) $ 204,898 All of the U.S. Treasury securities, asset-backed debt securities, commercial paper, corporate bonds, and international government securities that are designated as available-for-sale securities have an effective maturity date that is less than one year from the respective balance sheet date, and accordingly, have been classified as current in the condensed consolidated balance sheets. We classify our investments in money market funds within Level 1 of the fair value hierarchy because they are valued using quoted market prices. We classify our commercial paper, corporate bonds, U.S. Treasuries, asset-backed securities, and international government securities as Level 2 and obtain the fair value from a third-party pricing service, which may use quoted market prices for identical or comparable instruments or model-driven valuations using observable market data or inputs corroborated by observable market data. As all of our available-for-sale securities have been held for less than a year as of both September 30, 2021 and December 31, 2020, no security has been in an unrealized loss position for 12 months or greater. We evaluated our securities for other-than temporary impairment and considered the decline in market value for the securities to be primarily attributed to current economic and market conditions. It is not more likely than not that we will be required to sell the securities, and we do not intend to do so prior to the recovery of the amortized cost basis. Based on this analysis, the available-for-sale securities were not considered to be other-than-temporarily impaired as of September 30, 2021 and December 31, 2020. Liabilities measured at fair value on a recurring basis The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: (in thousands) September 30, 2021 December 31, 2020 Fair Value Level Liabilities: Warrant liability - Public Warrants $ 19,044 $ — Level 1 Warrant liability - Private Placement Warrants 17,296 — Level 2 Earn-out liability 30,678 — Level 3 Compound derivative liability — 425 Level 3 Total liabilities measured at fair value on a recurring basis $ 67,018 $ 425 Warrant liabilities The Public Warrants were valued using Level 1 inputs as they are traded in an active market. The fair value of the Private Placement Warrants is equivalent to that of the Public Warrants as they have substantially the same terms; however, as they are not actively traded, they are classified as Level 2 in the hierarchy table above. The change in the fair value of the warrant liabilities for the nine months ended September 30, 2021 is summarized as follows: (in thousands) Fair Value Fair value of warrant liabilities at Closing $ 28,229 Change in fair value of warrant liabilities 8,111 Balance as of September 30, 2021 $ 36,340 Earn-out liability The fair value of the Earn-Out Shares was estimated using a Monte Carlo simulation model. The fair value is based on the simulated price of the Company over the maturity date of the contingent consideration and increased by estimated forfeitures of Earn-Out Shares issued to Earn-Out Service Providers. The significant unobservable inputs used in the Monte Carlo simulation to measure the Earn-Out Shares that are categorized within Level 3 of the fair value hierarchy as of September 30, 2021 and the Closing Date are as follows: September 30, 2021 September 1, 2021 Stock price on valuation date $ 12.39 $ 10.63 Volatility 88.2 % 89.8 % Risk-free rate 0.11 % 0.10 % Dividend yield — % — % The change in the fair value of the earn-out liability for the nine months ended September 30, 2021 is summarized as follows: (in thousands) Fair Value Fair value of earn-out liability at Closing $ 25,016 Change in fair value of earn-out liability 5,662 Balance as of September 30, 2021 $ 30,678 Compound derivative liability The fair value of the compound derivative liability was approximately $0.4 million as of December 31, 2020 and is recorded in other long-term liabilities on the condensed consolidated balance sheet. We measured the compound derivative liability at each balance sheet date using a probability-weighted method with unobservable inputs, which are classified as Level 3 within the fair value hierarchy. The primary inputs for the probability-weighted valuation include the Company’s credit spread, applicable market discount rates, estimated recovery rates and U.S. Treasury rates. The credit spread assumption was approximately 8% and the recovery rate was approximately 69% as of December 31, 2020. Due to deteriorating economic conditions and delays in fundraising efforts during the COVID-19 pandemic in the second quarter of 2020, we restructured the Amended and Restated Credit Agreement on June 29, 2020 (see Note 10, Debt ). We recorded an increase in the fair value of the compound derivative of $4.8 million immediately prior to the restructuring, which was recorded as interest expense in the accompanying condensed consolidated statement of operations and comprehensive loss. The amendment fee of $2.5 million and the present value of the additional interest of approximately $1.4 million were settled against the compound derivative liability. On April 9, 2021, the Company repaid the Amended and Restated Credit Agreement in full and the fair value of the compound derivative liability was included in the net carrying amount of the debt used to determine the loss on extinguishment of debt. See Note 10, Debt , for more information. Convertible debt The fair value of the Convertible Debt was approximately $2.3 million as of December 31, 2020, which was a Level 3 measurement based on the conversion value of the instrument. See Note 10, Debt , for more information.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory	InventoryInventory was comprised of the following at: (in thousands) September 30, 2021 December 31, 2020 Raw materials $ 14,283 $ 12,883 Finished goods 173 161 Total inventory $ 14,456 $ 13,044 Inventory (current) $ 10,646 $ 7,020 Non-current inventory $ 3,810 $ 6,024

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment was comprised of the following at: (in thousands) September 30, 2021 December 31, 2020 Lab equipment $ 10,017 $ 9,865 Computer equipment 1,417 1,402 Furniture and fixtures 946 947 Software 3,366 2,657 Leasehold improvements 2,329 3,539 Construction in progress 3,252 81 Total property and equipment, at cost 21,327 18,491 Less: Accumulated depreciation and amortization (14,840) (14,578) Property and equipment, net $ 6,487 $ 3,913

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following at: (in thousands) September 30, 2021 December 31, 2020 Accrued compensation $ 5,578 $ 5,378 Accrued charitable contributions 400 400 Accrued medical claims 348 307 Other 163 225 Total accrued liabilities $ 6,489 $ 6,310

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases We have entered into various non-cancelable operating lease agreements for our current headquarters and laboratory facilities in Boulder, Colorado. In August 2015, the Company entered into a lease agreement for the Company’s corporate headquarters with a lease term that expires in June 2023; however, in September 2020, we agreed to terminate the lease effective June 2021. As a result, we paid a termination penalty of $0.3 million, which was recorded in selling, general and administrative expenses during the three and nine months ended September 30, 2020. A second lease, originally entered into in January 2017, expired in August 2021. This lease expired with no termination penalties. In August 2020, we announced the closure of our Oxford, United Kingdom laboratory, although we continue to use the space for storage of property and equipment as of September 30, 2021. The related laboratory lease term is set to expire on December 31, 2021 and does not provide for early termination. We also have operating leases for our research and development lab facility and operations lab facility in Boulder, Colorado. During the year ended December 31, 2021, we extended the lease term on both leases until February 2026 and December 2023, respectively. The laboratory leases include escalating rent payments and options to renew the leases. We have deposits of $0.8 million and $0.3 million classified as restricted cash and included in other long-term assets as of September 30, 2021 and December 31, 2020, respectively. The deposits are restricted from withdrawal and held by a bank in the form of collateral for an irrevocable standby letter of credit held as security for the lease of one of the Company’s facilities. As of September 30, 2021, we have future commitments resulting from these operating lease arrangements totaling $5.2 million. SAFE Agreement In December 2019, in conjunction with a revenue contract with a customer, we entered into a Simple Agreement for Future Equity (the “SAFE”). The SAFE agreement provided the customer with the right to purchase a SAFE for a fixed payment of $5.0 million that would convert into equity (variable number of shares based upon fair value at the date of issuance) upon certain specified fundraising events. The right to purchase the SAFE was contingent on the customer’s approval of our plan to move to the next version of our SomaScan ® platform (the “Reversioning Plan”), which did not occur until January 2020. The obligation was classified as a liability and measured at fair value upon the customers’ approval of the Reversioning Plan in January 2020. We received $5.0 million in cash and the customer was issued 737,463 shares of Old SomaLogic redeemable convertible preferred stock, which effectively converted the liability into redeemable convertible preferred stock. The 737,463 shares of Old SomaLogic redeemable convertible preferred stock that were issued for the SAFE are presented in the condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) as 1,236,135 shares of Common Stock as a result of the reverse recapitalization. Legal Proceedings We are subject to claims and assessments from time to time in the ordinary course of business. We will accrue a liability for such matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. We are not currently party to any material legal proceedings in which a potential loss is probable or reasonably estimable. Indemnification In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but that have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following at: (in thousands) September 30, 2021 December 31, 2020 Paycheck Protection Program loan $ — $ 3,520 Amended and Restated Credit Agreement — 33,087 Plus: Premium — 708 Less: Unamortized debt issuance costs — (2,566) Total long-term debt $ — $ 34,749 Current portion of long-term debt $ — $ 2,423 Long-term debt, net of current portion $ — $ 32,326 Convertible Debt We had an unsecured convertible promissory note that was issued in March 2007, at par value, for an aggregate principal amount of $2.0 million (the “Convertible Debt”). In June 2017, the original maturity date for the Convertible Debt was extended to June 30, 2024 and the interest rate was amended to a fixed rate of 3.75%. We performed a two-step analysis in accordance with ASC 470-50, Debt — Modification and Extinguishments, and determined that the amendment should be accounted for as a modification because the present value of the cash flows under the terms of the modified agreement were not substantially different than the present value of the remaining cash flows under the terms of the original agreement and the change in the value of the conversion option was not substantially different than the carrying value of the Convertible Debt. The resulting impact was a reduction in the carrying amount of the Convertible Debt for $0.1 million and an offsetting impact to additional paid-in capital. Amortization of the discount was less than $0.1 million for the nine months ended September 30, 2021 and 2020. The Convertible Debt had a voluntary conversion feature that allowed the holder, at its sole option, the right to request the Company to convert the principal, any accrued, but unpaid interest and any other unpaid amount of the obligation into our common stock or preferred stock. There was also an automatic conversion feature that permitted the Convertible Debt to be settled in common stock or cash upon certain events. The number of shares of common or preferred stock that could have been issued would have been determined based on the total outstanding obligation divided by $3.72 or $5.87, respectively. On March 30, 2021, we issued a notice of prepayment to the holder of the Convertible Debt stating the Company intended to prepay the full outstanding Convertible Debt obligation. The holder then had the option to either request a conversion to equity pursuant to the Convertible Debt voluntary conversion provisions, described above, or accept the Company’s prepayment. On July 9, 2021, the Company and the holder of the Convertible Debt amended the conversion terms and simultaneously converted the Convertible Debt into 682,070 shares of Old SomaLogic Class B common stock. We recognized a $2.7 million loss on extinguishment of debt in the condensed consolidated statements of operations and comprehensive loss during the third quarter of 2021 as a result of the conversion. Since the Convertible Debt was settled in full, there is no outstanding balance as of September 30, 2021. The 682,070 shares of Old SomaLogic Class B common stock that were issued for the conversion of Convertible Debt are presented in the condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) as 571,642 shares of Common Stock as a result of the reverse recapitalization. Interest expense on the Convertible Debt was less than $0.1 million for the three and nine months ended September 30, 2021 and 2020. Paycheck Protection Program In April 2020, we received a loan in the aggregate amount of $3.5 million, pursuant to the Paycheck Protection Program (the “PPP”), established pursuant to the recently enacted Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and administered by the U.S. Small Business Administration. The PPP loan, which was in the form of a note dated April 13, 2020, matures on April 13, 2022 and bears interest at a rate of 0.98% per annum. All principal and interest payments were deferred until April 13, 2021. Under the terms of the CARES Act, we could apply for and receive forgiveness for all, or a portion of the loans granted under the PPP. Such forgiveness was determined, subject to limitations, based on the use of loan proceeds for certain permissible purposes as set forth in the PPP, including, but not limited to, eligible payroll costs and mortgage interest, rent or utility costs, and on the maintenance or rehiring of employees and maintaining compensation levels during the eight-week period following the funding of the PPP loan. On June 21, 2021, we were notified by the lender that the PPP loan had been forgiven for the full amount borrowed under the PPP loan, including less than $0.1 million of accrued interest. In accordance with ASC 405-20, Extinguishment of Liabilities , the income from the forgiveness of the amount borrowed and the accrued interest was recognized as a gain on extinguishment of debt recorded within loss on extinguishment of debt, net in the condensed consolidated statement of operations and comprehensive loss during the second quarter of 2021. As the PPP loan was forgiven, there is no outstanding balance as of September 30, 2021. Amended and Restated Credit Agreement In February 2016, we entered into a credit agreement (the “Credit Agreement”) with Madryn Health Partners, LP (“Madryn”), under which we received net proceeds of approximately $35.0 million, including debt issuance costs of $0.8 million. Interest on the Credit Agreement accrued at an annual floating interest rate of LIBOR (with a 1% floor) plus 12.5%, payable quarterly, of which a portion could be deferred at our option and paid together with the principal at maturity (“payment in kind” or “PIK”). The Credit Agreement had an interest-only period through March 31, 2020 and a final maturity date of December 31, 2021. In December 2017, we entered into the Amended and Restated Credit Agreement, receiving an additional $3.4 million in proceeds. The Amended and Restated Credit Agreement reduced the floating interest rate of LIBOR plus 12.5% to 8.86%, waived revenue covenants until October 1, 2020 as long as cash and investments exceeded the principal balance of the debt, removed the option to defer a portion of the interest payment until maturity and extended the term to December 2022. As of December 31, 2017, the additional debt recorded as PIK was approximately $1.6 million. In exchange for these amendments, we issued 800,000 shares of Old SomaLogic Class B common stock to Madryn at a fair value of $12.35 per share. The fair value of the Old SomaLogic Class B common stock issued of $9.9 million, plus additional financing fees of $0.2 million, was recorded as deferred costs and is amortized to interest expense over the life of the loan using the effective interest rate method. The 800,000 shares of Old SomaLogic Class B common stock that were issued to Madryn are presented in the condensed consolidated statements of redeemable preferred stock and stockholders’ equity (deficit) as 670,480 shares of Common Stock as a result of the reverse recapitalization. We determined that the Amended and Restated Credit Agreement contained put options related to early redemption mandatory prepayment terms in case of change in control or an event of default (the “Redemption Features”). The Redemption Features embedded in the Credit Agreement and Amended and Restated Credit Agreement met the requirements for separate accounting and were accounted for as a single, compound derivative instrument, in accordance with ASC 815 . On June 29, 2020, we signed an amendment to the Amended and Restated Credit Agreement. The amendment increased the fixed annual interest rate to 12%, of which 3% can be deferred at our option and paid together with the principal at maturity, waived or amended certain covenants and eliminated amortizing principal payments set to begin in March 2021. The entirety of the outstanding principal balance was due on the maturity date of December 31, 2022. Additionally, we incurred an amendment fee of $2.5 million, which was added to the outstanding principal balance. This amendment met the definition of a troubled debt restructuring under ASC 470-60, Troubled Debt Restructurings by Debtors , as the Company was experiencing financial difficulties and received concessions. The amendment did not result in a gain on restructuring because the total undiscounted cash outflows required under the Amended and Restated Credit Agreement exceeded the carrying value of the debt immediately prior to the amendment. The present value of the additional interest resulted in a premium of $1.4 million. On November 20, 2020, we signed an additional amendment to the Amended and Restated Credit Agreement. In connection with the amendment, we issued 2,651,179 shares of Old SomaLogic redeemable convertible preferred stock to Madryn for a total fair value of approximately $18.0 million in exchange for the deemed prepayment of $10.0 million in the principal amount, a prepayment penalty of $2.5 million and amendment fees of approximately $5.5 million. This amendment also reduced the fixed annual interest rate to 11%, of which 2% can be deferred at our option and paid together with the principal at maturity and amended certain change of control provisions. The 2,651,179 shares of Old SomaLogic redeemable convertible preferred stock that were issued for the conversion of the Convertible Debt are presented in the condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) as 4,443,906 shares of Common Stock as a result of the reverse recapitalization. On April 9, 2021, we repaid the Amended and Restated Credit Agreement in full and the obligation was extinguished. In addition to the outstanding principal balance of $33.3 million as of that date, we also paid a prepayment penalty of approximately $4.0 million. As a result of the repayment of the Amended and Restated Credit Agreement, we recognized a $5.2 million loss on extinguishment of debt in the condensed consolidated statement of operations and comprehensive loss during the second quarter of 2021. Obligations under the Amended and Restated Credit Agreement were collateralized by liens on substantially all of the Company’s assets, including certain intellectual property. The Amended and Restated Credit Agreement contains various customary representations and warranties, conditions to borrowings, events of default and covenants, including financial covenants requiring the maintenance of minimum annual revenue and liquidity. The Company was in compliance with its financial covenants under the Amended and Restated Credit Agreement as of the extinguishment date and December 31, 2020. The Company incurred no interest expense and $1.5 million of interest expense for the three months ended September 30, 2021 and 2020, respectively, and $1.2 million and $4.6 million of interest expense for the nine months ended September 30, 2021 and 2020, respectively, under the Amended and Restated Credit Agreement. The interest expense includes noncash amortization of the debt issuance costs of approximately $0.4 million for the three months ended September 30, 2020, and $0.3 million and $1.7 million for the nine months ended September 30, 2021 and 2020, respectively, and is net of amortization of premium of $0.3 million for the three months ended September 30, 2020, and $0.1 million and $0.2 million for the nine months ended September 30, 2021 and 2020, respectively. During the nine months ended September 30, 2021 and 2020, the additional interest recorded as PIK, which was added to the principal balance of the long-term debt, was $0.2 million and $0.3 million, respectively. Interest of $0.3 million was recorded as PIK during the three months ended September 30, 2020.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	9 Months Ended
	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockIn November and December 2020, Old SomaLogic issued and sold 14,954,146 shares and 11,434,248 shares, respectively, of redeemable convertible preferred stock at a price of $6.78 per share for an aggregate purchase price of $213.5 million. We incurred equity issuance costs of $11.4 million in connection with these offerings, which are reflected as a reduction to the carrying value of the redeemable convertible preferred stock. As of December 31, 2020, there were 83,810,000 shares of redeemable convertible preferred stock authorized, 26,388,394 shares of redeemable convertible preferred stock issued and outstanding and a liquidation preference of $213.5 million. Prior to the closing of the Business Combination, there were no significant changes to the terms of the redeemable convertible preferred stock as compared to December 31, 2020. The aggregate 26,388,394 shares of redeemable preferred stock issued and sold are presented in the condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) as 52,776,787 shares of Common Stock as a result of the reverse recapitalization. Immediately prior to the Closing, the redeemable convertible preferred stock of Old SomaLogic were converted into shares of Class B common stock of Old SomaLogic on a two-for-one basis and then converted into the Company’s Common Stock at an Exchange Ratio of 0.8381. We recorded the conversion of the underlying carrying value of the redeemable convertible preferred stock at the time of the Closing. There are no shares of redeemable convertible preferred stock authorized, issued or outstanding as of September 30, 2021.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common and Preferred Stock On September 1, 2021, in connection with the Business Combination, the Company amended and restated its certificate of incorporation to authorize 600,000,000 shares of Common Stock, par value of $0.0001 per share, and 1,000,000 shares of preferred stock, par value $0.0001 per share ("Preferred Stock"). Warrants As of September 30, 2021, there were an aggregate of 5,519,991 and 5,013,333 outstanding Public Warrants and Private Placement Warrants, respectively. Each warrant entitles the holder to purchase one share of our Common Stock at a price of $11.50 per share at any time commencing on February 25, 2022. The Warrants will expire on September 1, 2026 or earlier upon redemption or liquidation. The Private Placement Warrants are identical to the Public Warrants, except that the Private Placement Warrants, so long as they are held by CMLS Holdings II LLC, a Delaware limited liability company (the “Sponsor”) or any of its permitted transferees, (i) will not be redeemable by the Company (except as described below in “ Redemption of Warrants When the Price per Share of Common Stock Equals or Exceeds $10.00 ”), (ii) may be exercised by the holders on a cashless basis, and (iii) will be entitled to certain registration rights. If the Private Placement Warrants are held by a holder other than the Sponsor or any of its permitted transferees, the Private Placement Warrants will be redeemable by the Company in all redemption scenarios applicable to the Public Warrants and exercisable by such holders on the same basis as the Public Warrants. Redemptions of warrants when the price per share of Common Stock equals or exceeds $18.00 - Once the warrants become exercisable, the Company may redeem the outstanding Public Warrants: • in whole and not in part; • at a price of $0.01 per warrant; • upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and • if, and only if, the closing price of the Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three Redemptions of warrants when the price per share of Common Stock equals or exceeds $10.00 - Once the warrants become exercisable, the Company may redeem the outstanding Public Warrants: • 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 our Common Stock (as defined below) except as otherwise described below; • if, and only if, the closing price equals or exceeds $10.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within the 30-trading day period ending three • if the closing price of the Common Stock for any 20 trading days within a 30-trading day period ending three The “fair market value” of our Common Stock shall mean the volume weighted average price of our Common Stock during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of warrants. We will provide our warrant holders with the final fair market value no later than one business day after the 10-trading day period described above ends. In no event will the warrants be exercisable in connection with this redemption feature for more than 0.361 shares of Common Stock per warrant (subject to adjustment). We will not redeem the Warrants as described above unless an effective registration statement under the Securities Act of 1933, as amended, covering our Common Stock issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of Common Stock is available throughout the 30-day redemption period. If the foregoing conditions are satisfied and we issue a notice of redemption, each warrant holder will be entitled to exercise their warrants prior to the scheduled redemption date.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation We maintained two equity incentive plans – the 2009 Equity Incentive Plan (the “2009 Plan”) and the 2017 Equity Incentive Plan (the “2017 Plan”) under which incentive and nonstatutory stock options to purchase shares of Old SomaLogic’s common stock were granted to employees, directors, and non-employee consultants. The 2009 Plan was terminated during 2017 upon the adoption of the 2017 Plan, and no further awards were granted under the 2009 Plan thereafter. The outstanding options previously granted under the 2009 Plan continued to remain outstanding under the 2017 Plan. In connection with the Business Combination, we assumed the 2017 Plan, including the 2009 Plan options outstanding under the 2017 Plan, upon Closing. We terminated the 2017 Plan, provided that the outstanding awards granted under the 2009 Plan and 2017 Plan continue to remain outstanding. Upon consummation of the Business Combination, all outstanding options were converted into an option to acquire an adjusted number of shares of Common Stock of SomaLogic at an adjusted exercise price per share based on the Exchange Ratio. Such options continue to be governed by substantially the same terms and conditions, including vesting, as were applicable to the original instrument. In September 2021, our Board of Directors adopted, and our stockholders approved, a new incentive plan (the “Incentive Plan”), under which the Company may grant cash and equity incentive awards in the form of stock options, stock appreciation rights, restricted stock, other stock-based awards, other cash-based awards, and performance awards to employees, directors, and consultants of the Company. The Incentive Plan became effective upon the closing of the Business Combination. Under the Incentive Plan, as of September 30, 2021, we were authorized to issue a maximum of 21,300,000 shares of Common Stock. As of September 30, 2021, no awards have been granted under the Incentive Plan. As of September 30, 2021, we have reserved 38,471,506 shares of Common Stock for issuance under all incentive plans. Stock-based compensation was recorded in the condensed consolidated statements of operations and comprehensive loss as shown in the following table: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Cost of assay services revenue $ 102 $ 105 $ 283 $ 321 Cost of product revenue — 4 6 11 Research and development 7,712 683 9,286 2,097 Selling, general and administrative 4,870 2,295 11,125 7,404 Total stock-based compensation $ 12,684 $ 3,087 $ 20,700 $ 9,833 Stock Options Awards At September 30, 2021, there were 11,899,636 options outstanding within the 2009 Plan and the 2017 Plan and 5,259,078 options outstanding that were granted outside of the Incentive Plan. Generally, options vest over four years, with 25% vesting upon the first-year anniversary of the grant date and the remaining options vesting ratably each month thereafter. The following table shows a summary of all stock option activity for the nine months ended September 30, 2021: (in thousands, except per share data) Number of Weighted Weighted Aggregate Outstanding as of December 31, 2020 11,350,934 $ 3.92 Granted 7,326,665 $ 5.72 Exercised (976,563) $ 2.92 Forfeited (387,978) $ 4.11 Expired (154,344) $ 2.26 Outstanding as of September 30, 2021 17,158,714 $ 4.75 8.26 $ 131,028 Exercisable as of September 30, 2021 7,376,966 $ 3.79 6.84 $ 63,422 Vested and expected to vest as of September 30, 2021 15,070,231 $ 4.66 8.11 $ 116,462 The total intrinsic value of options exercised during the three months ended September 30, 2021 and 2020 was approximately $0.1 million and $0.1 million, respectively, and during the nine months ended September 30, 2021 and 2020 was approximately $1.8 million and $0.3 million, respectively. The assumptions used in valuing the stock options granted are set forth in the following table: Nine Months Ended September 30, 2021 2020 Expected dividend yield — % — % Expected volatility 86.8 – 92.8% 83.5 – 86.9% Risk-free interest rate 0.64 – 1.11% 0.34 – 0.44% Expected weighted-average life of options 6.04 years 5.95 years The weighted-average grant date fair value for options granted during the nine months ended September 30, 2021 and 2020 was $3.78 and $1.72, respectively. Based on options granted to employees as of September 30, 2021, total compensation expense not yet recognized related to unvested options is approximately $28.6 million, which is expected to be recognized over a weighted average period of 2.64 years. In June 2021, the Company modified options held by directors that resigned from our Board of Directors to accelerate the vesting and/or extend contractual terms. In connection with these modifications, the Company recorded incremental stock-based compensation expense of $0.7 million in the second quarter of 2021. Secondary Sale Transaction On July 1, 2021, an employee of the Company sold shares of the Company’s common stock and vested options to acquire shares of our common stock at a sales price that was above the then-current fair value. Since the purchasing parties are holders of economic interest in the Company and acquired shares and options from a current employee at a price in excess of fair value of such shares and options, the amount paid in excess of the fair value at the time of the secondary sale was recognized as stock-based compensation expense. Total stock-based compensation expense related to the secondary sale transaction of $6.5 million included in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2021 was recorded within research and development expenses. Performance Awards In July 2021, we entered into a consulting agreement (the “Consulting Milestone Agreement”) with a vendor, Abundant Venture Innovation Accelerator (“AVIA”), to provide services related to expanding our contractual relationships with health system providers. AVIA is a related party (see Note 16, Related Parties ). The Consulting Milestone Agreement includes a fixed amount of compensation in our Common Stock for achievement of certain milestones related to our business. We account for these awards as stock compensation liabilities with a performance condition, which are measured at fair value on the date of the grant and recognized over the expected performance period when it is probable the milestone will be achieved. In August 2021, we issued 14,727 shares of Old SomaLogic Class B common stock related to this Consulting Milestone Agreement for milestones achieved. We recognized approximately $0.8 million of stock-based compensation expense during the three and nine months ended September 30, 2021. As of September 30, 2021, the remaining commitment of $0.7 million is recorded in other long-term liabilities. The 14,727 shares of Old SomaLogic Class B common stock issued for milestones achieved are presented in the condensed consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) as 12,342 shares of Common Stock as a result of the reverse recapitalization. Service Provider Earn-Out Shares Upon the consummation of the Business Combination, 1,499,875 Earn-Out Shares, subject to vesting and forfeiture conditions, were issued to Earn-Out Service Providers (the “Service Provider Earn-Outs”). As the issuance of the Service Provider Earn-Outs is contingent on services being provided, we have accounted for them in accordance with ASC 718, Compensation - Stock Compensation . As of September 30, 2021, 1,494,208 Service Provider Earn-Outs were outstanding after forfeitures. Upon forfeiture, the forfeited shares will be redistributed to the Old SomaLogic stockholders. The fair value of the Service Provider Earn-Outs on the grant date is a weighted average of $7.04 per share and will be recognized as stock-based compensation expense on a straight-line basis over the derived service period of 1.2 years or shorter if the awards vest. The assumptions used in valuing the Service Provider Earn-Outs using the Monte Carlo simulation included volatility of 89.8%, risk-free interest rate of 0.10% to 0.11%, a stock price of $10.63 to $10.67, and a forfeiture rate of approximately 5%. The Company recorded $1.0 million in stock-based compensation expense related to the Service Provider Earn-Outs during the three and nine months ended September 30, 2021, and $9.0 million is expected to be recorded over the remaining estimated service period .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes There has historically been no federal or state provision for income taxes because the Company has incurred operating losses and maintains a full valuation allowance against its net deferred tax assets in the United States. For the three and nine months ended September 30, 2021 and 2020, the Company recognized no provision for income taxes in the United States. The foreign provision for income taxes was immaterial for the three and nine months ended September 30, 2021 and 2020. Utilization of net operating loss carryforwards, tax credits and other attributes may be subject to future annual limitations due to the ownership change limitations provided by Section 382 of the Internal Revenue Code and similar state provisions.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Defined Contribution Plan	Employee Benefit PlansThe Company sponsors a 401(k) plan, covering all employees in the United States. The Company matches 100% of the first 4% of employee contribution with immediate vesting. We made matching contributions of approximately $0.2 million during the three months ended September 30, 2021 and 2020, and approximately $0.8 million and $0.6 million during the nine months ended September 30, 2021 and 2020, respectively.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Related PartiesThe Company paid $0.1 million of an unconditional contribution to a related party during the nine months ended September 30, 2021 and 2020. As of September 30, 2021, $0.4 million of the $0.5 million remaining pledge is recorded in accrued liabilities and $0.1 million is recorded in other long-term liabilities. In June 2019, we entered into a consulting agreement (the “Master Agreement”) with AVIA, a company that engages in business incubation activities. AVIA is a related party to the Company because Ted Meisel, a member of our Board of Directors as of September 1, 2021, also serves on the board of directors of AVIA. Pursuant to the Master Agreement and the Consulting Milestone Agreement, the Company agreed to pay AVIA for business development activities. In August 2021, the Company issued 14,727 shares of Old SomaLogic Class B Common stock to AVIA for milestones achieved (see Note 13, Stock-based Compensation

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share using the two-class method: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2021 2020 2021 2020 Net loss $ (41,419) $ (7,483) $ (64,240) $ (44,101) Weighted-average shares used in computing net loss per share, basic and diluted 75,684,521 61,099,901 63,752,006 60,934,489 Net loss per share, basic and diluted $ (0.55) $ (0.12) $ (1.01) $ (0.72) The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options to purchase common stock 17,158,714 11,333,388 17,158,714 11,333,388 Public Warrants and Private Placement Warrants 10,533,324 — 10,533,324 — Convertible debt (on an if-converted basis) — 450,591 — 450,591 Total 27,692,038 11,783,979 27,692,038 11,783,979

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated interim financial statements and accompanying notes include the accounts of SomaLogic and our wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”). Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements of Old SomaLogic as of and for the year ended December 31, 2020, and of CMLS II as of December 31, 2020 and for the period from December 15, 2020 (inception) through December 31, 2020. The December 31, 2020 condensed consolidated balance sheet presented herein was derived from Old SomaLogic’s audited consolidated financial statements. These unaudited condensed consolidated interim financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include normal recurring adjustments considered necessary for a fair presentation of interim financial information, to present fairly the Company’s condensed consolidated financial position and its results of operations and cash flows. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any other future annual or interim period. Basis for Financial Balances After the Business Combination The Business Combination was accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, CMLS II is treated as the “acquired” company for financial reporting purposes and Old SomaLogic is treated as the accounting acquirer. This determination was primarily based on the following: • the Old SomaLogic stockholders hold the majority of voting rights in the Company; • Old SomaLogic had the right to designate a majority of members of the board of directors of the Company immediately after giving effect to the Business Combination; • the senior management of Old SomaLogic comprises the senior management of the Company; and • the operations of Old SomaLogic comprise the ongoing operations of the Company. Accordingly, for accounting purposes, our financial statements represent a continuation of the financial statements of Old SomaLogic with the Business Combination being treated as the equivalent of Old SomaLogic issuing stock for the net assets of the CMLS II, accompanied by a recapitalization. The net assets of Old SomaLogic are stated at historical cost, with no goodwill or other intangible assets recorded. In connection with the Business Combination each share of Old SomaLogic Class B common stock (including shares of Old SomaLogic Class B common stock resulting from the deemed conversion of Old SomaLogic redeemable convertible preferred stock) converted into the right to receive 0.8381 shares (the "Exchange Ratio”) of our Class A common stock, par value $0.0001, (“Common Stock”). The recapitalization of the number of shares of our Common Stock is reflected retrospectively to the earliest period presented, based upon the Exchange Ratio, and is utilized for calculating net loss per share in all prior periods presented.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods. Actual results could differ from those estimates. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition, inventory valuation, compound derivative liability valuation, the valuation of stock-based compensation awards, warrant liabilities valuations, and earn-out liability valuations. We base our estimates on current facts, historical and anticipated results, trends, and other relevant assumptions that we believe are reasonable under the circumstances. Actual results could differ from these estimates, and such differences could be material to the Company’s consolidated financial position and results of operations.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, investments, and accounts receivable. Our cash and cash equivalents are deposited with high-quality financial institutions. Deposits at these institutions may, at times, exceed federally insured limits.
Inventory	Inventory Inventory is stated at the lower of cost (on a first-in, first-out basis) or net realizable value. Cost is determined using a standard cost system, whereby the standard costs are updated periodically to reflect current costs. The Company estimates the recoverability of inventory by referencing estimates of future demands and product life cycles, including expiration. The Company periodically analyzes its inventory levels to identify inventory that may expire prior to expected usage, no longer meets quality specifications, or has a cost basis in excess of its estimated net realizable value and records a charge to cost of revenue for such inventory as appropriate. The value of inventory that is not expected to be used within 12 months of the balance sheet date is classified as non-current inventory in the accompanying condensed consolidated balance sheets.
Warrant Liabilities	We classify the Warrants as liabilities on our condensed consolidated balance sheet as these instruments are precluded from being indexed to our own stock given that the terms allow for a settlement adjustment that does not meet the scope for the fixed-for-fixed exception in ASC 815, Derivatives and Hedging
Earn-Out Liability	Earn-Out LiabilityAs a result of the Business Combination, the Company recognized Earn-Out Shares (defined below) contingently issuable to former stockholders of Old SomaLogic as a liability in accordance with ASC 815. The liability was included as part of the consideration transferred in the Business Combination and was recorded at fair value. The earn-out liability is remeasured at the end of each reporting period, with the corresponding gain or loss recorded within change in fair value of earn-out liability in the condensed consolidated statements of operations and comprehensive loss.
Revenue Recognition, Assay Services Revenue and Product Revenue	Revenue Recognition The Company recognizes revenue from sales to customers under ASC 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 provides a five-step model for recognizing revenue that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. The Company recognizes revenue when or as control of promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales, value add, and other taxes collected concurrent with revenue-producing activities are excluded from revenue and products are sold without the right of return. Payment terms may vary by customer, are based on customary commercial terms, and are generally less than one year. The Company does not adjust revenue for the effects of a significant financing component for contracts where the period between the transfer of the good or service and collection is one year or less. The Company expenses incremental costs to obtain a contract when incurred since the amortization period of the asset that would otherwise be recognized is one year or less. Assay Services Revenue The Company generates assay services revenue primarily from the sale of SomaScan ® services. SomaScan ® service revenue is derived from performing the SomaScan ® assay on customer samples to generate data on protein biomarkers. Revenue from SomaScan ® services is recognized at the time the analysis data or report is delivered to the customer, which is when control has been transferred to the customer. SomaScan ® services are sold at a fixed price per sample without any volume discounts, rebates, or refunds. The delivery of each assay data report is a separate performance obligation. For arrangements with multiple performance obligations, the transaction price must be allocated to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation as there are few directly comparable products in the market and factors such as customer size are factored into the determination of selling price. We determine standalone selling prices based on amounts invoiced to customers in observable transactions. Product Revenue Product revenue primarily consists of kit sales to customers who assay samples in their own laboratories. The Company receives a fixed price per kit and revenue from product sales is recognized upon transfer of control to the customer. The principal terms of sale are freight on board (“FOB”) shipping point and as such, the Company transfers control and records revenue for product sales upon shipment. Shipping and handling costs billed to customers are included in product revenue in the condensed consolidated statements of operations and comprehensive loss.
Revenue Recognition, Collaboration Revenue	Collaboration Revenue In July 2011, NEC Corporation (“NEC”) and the Company entered into a Strategic Alliance Agreement (the “SAA”) to develop a professional software tool to enable SomaScan ® customers to easily access and interpret the highly multiplexed proteomic data generated by SomaLogic’s SomaScan ® assay technology in the United States. To support this development, NEC made an upfront payment of $12.0 million and SomaLogic agreed to pay NEC a perpetual royalty on certain SomaScan ® revenues. This agreement includes a clause whereby if there is a material breach of the contract or change in control of the Company, the Company may be required to pay a fee to terminate the agreement. The Company determined that the SAA met the criteria set forth in ASC 808, Collaborative Arrangements , (“ASC 808”) because both parties were active participants and were exposed to significant risks and rewards dependent on commercial failure or success. The Company recorded the upfront payment as deferred revenue to be recognized over the period of performance of 15 years. The revenue was recorded in collaboration revenue in the condensed consolidated statements of operations and comprehensive loss. In March 2020, NEC and the Company mutually terminated the SAA and concurrently the Company and NEC Solution Innovators, Ltd. (“NES”), a wholly owned subsidiary of NEC, entered into a new arrangement, the Joint Development and Commercialization Agreement (the “JDCA”), to develop and commercialize SomaScan ® services in Japan. NES agreed to make annual payments of $2 million for five years, for a total of $10.0 million, in exchange for research and development activities, as described below. The Company determined the JDCA should be accounted for as a modification of the SAA. Therefore, the remaining SAA deferred revenue balance as of the date of the modification was included as consideration under the JDCA resulting in total consideration of $15.3 million for research and development activities. We determined that this arrangement also meets the criteria set forth in ASC 808. The JDCA contains three separate performance obligations: (i) research and development activities, (ii) assay services, and (iii) a 10-year exclusive license of the Company’s intellectual property. (i) Research and Development Activities The Company determined that NES is not a customer with respect to the research and development activities associated with the collaboration arrangement under ASC 808. The Company’s efforts related to the research and development activities are incurred consistently throughout the performance period. As a result, the Company recognizes revenue from these activities over time on a straight-line basis and records revenue in collaboration revenue in the condensed consolidated statements of operations and comprehensive loss. (ii) Assay Services The Company determined that NES is a customer for the assay services performance obligation, which should be accounted for using the criteria under ASC 606. The Company receives a fixed fee (standalone selling price) per sample in exchange for assaying samples, which is a service performed for other customers in the ordinary course of business. This performance obligation is recognized at a point in time when the assay data report is delivered to the customer and recorded in assay services revenue in the condensed consolidated statements of operations and comprehensive loss. (iii) License of Intellectual Property The Company determined that NES is a customer for the license performance obligation, which should be accounted for using the criteria under ASC 606. The Company receives royalties based on NES’ net sales and determined the allocation of royalties solely to this performance obligation is consistent with the objectives in ASC 606. This performance obligation was satisfied at the beginning of the license term. Subject to the sales and usage-based royalty exception, revenue is recognized in the period in which the subsequent sale or usage has occurred. Royalties are recorded in other revenue in the condensed consolidated statements of operations and comprehensive loss.
Revenue Recognition, Other Revenue	Other Revenue Other revenue includes royalty revenue and revenue received from research grants. The Company recognizes royalty revenue for fees paid by customers in return for the exclusive license to make, use or sell certain licensed products in certain geographic areas. These fees are equivalent to a percentage of the customer’s related revenues. The Company recognizes revenue for sales-based or usage-based royalties promised in exchange for a license of intellectual property when the later of the following events occurs: (i) the subsequent sale or usage occurs, or (ii) the performance obligation to which some or all of the sales-based or usage-based royalty has been satisfied. As such, revenue is recognized in the period in which the subsequent sale or usage has occurred.
Segment Information	Segment Information The Company has one operating segment. The Company’s chief operating decision maker (the “CODM”) role is performed by the Company’s Chief Executive Officer. The CODM manages the Company’s operations on a consolidated basis for purposes of allocating resources and assessing performance. Substantially all of the Company’s operations and decision-making functions are located in the United States.
Recent Accounting Pronouncements	Recent Accounting Pronouncements We are an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to avail itself of this extended transition period and, as a result, we will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies so long as we remain an emerging growth company. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in an Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendment also simplifies the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity's Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendment revises the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity's ability to rebut the presumption. ASC 2020-06 is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. ASU 2020-06 may be adopted through either a modified retrospective method of transition or a fully retrospective method of transition. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions related to contract modifications and hedge accounting to address the transitions from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The guidance permits an entity to consider contract modification due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. The standard is effective upon issuance and can be applied as of March 12, 2020 through December 31, 2022. The Company does not expect the adoption of the standard to have a material impact on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which removes certain exceptions to the general principles of ASC 740 as part of an overall simplification initiative. The effective date for the standard is for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is currently evaluating the impact the standard may have on its 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 , which sets forth a “current expected credit loss” (CECL) model that requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. In November 2019, the FASB issued ASU 2019-10, Financial Instrum ents — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which extends the effective date of ASU 2016-13 for non-public business entities to fiscal years beginning after December 15, 2022 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. In June 2020, the FASB issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities , which extended the effective date of ASU 2016-02 for non-public business entities to fiscal years beginning after December 31, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company anticipates that it will elect to adopt the practical expedient to not separate lease and non-lease components. The Company also anticipates that it will elect to adopt the package of practical expedients, which allows it to not reassess: 1) whether any expired or existing contracts are or contain leases, 2) the lease classification for any expired or existing leases and 3) initial direct costs for any existing leases. The Company will elect to not recognize on the balance sheet leases with terms of 12 months or less. For these short-term leases, the Company will recognize the lease payments in profit or loss on a straight-line basis over the lease term and any variable lease payments in the period in which the obligation for those payments is incurred. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Concentration of Risk	For each significant customer, revenue as a percentage of total revenues and gross accounts receivable as a percentage of total gross accounts receivable as of the periods presented were as follows: Accounts Receivable Revenue September 30, 2021 December 31, 2020 Three months ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Customer A 36% 26% 27 % 23 % 24 % 35 % Customer B * 11% * 39 % 17 % 20 % Customer C 10% 25% * 11 % 11 % * Customer D * 16% * * * * Customer E 11% * * * * * * less than 10%

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule Of Reverse Recapitalization	The following table details the number of shares of Common Stock issued immediately following the consummation of the Business Combination: Shares CMLS II Class A common stock, outstanding prior to Business Combination 27,600,000 Less: CMLS II Redemption shares (809,850) Class A common stock of CMLS II, net of redemptions 26,790,150 Conversion of CMLS II Founder Shares for Common Stock 6,900,000 Shares issued pursuant to PIPE Investment 36,500,000 Conversion of Old SomaLogic shares for Common Stock (1) 110,973,213 Total shares of SomaLogic Common Stock, immediately after Business Combination 181,163,363 (1) The number of Old SomaLogic shares was determined as the 75,404,883 shares of Old SomaLogic Class B common stock and 31,485,973 shares of Old SomaLogic redeemable convertible preferred stock (assuming deemed conversion to Old SomaLogic Class B common stock) outstanding immediately prior to the closing of the Business Combination multiplied by the Exchange Ratio of 0.8381.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table provides information about disaggregated revenue by product line: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Assay services revenue $ 17,499 $ 11,378 $ 48,308 $ 22,166 Product revenue 75 455 730 1,144 Collaboration revenue 763 763 2,288 1,720 Other revenue: Royalties 1,520 1,627 6,570 2,608 Other 135 10 736 28 Total other revenue 1,655 1,637 7,306 2,636 Total revenue $ 19,992 $ 14,233 $ 58,632 $ 27,666
Summary of Change in Contract Liabilities	A summary of the change in contract liabilities is as follows: (in thousands) September 30, 2021 December 31, 2020 Balance at beginning of period $ 5,177 $ 5,469 Recognition of revenue included in balance at beginning of period (1,499) (1,003) Revenue deferred during the period, net of revenue recognized 2,947 711 Balance at end of period $ 6,625 $ 5,177

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured on Recurring Basis	The following tables set forth our financial assets measured at fair value on a recurring basis and the level of inputs used in such measurements: As of September 30, 2021 (in thousands) Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Aggregate Fair Value Fair Value Level Cash and cash equivalents: Cash $ 432,581 $ — $ — $ 432,581 Level 1 Money market funds 19,129 — — 19,129 Level 1 Commercial paper 16,998 — — 16,998 Level 2 Total cash and cash equivalents 468,708 — — 468,708 Investments: Commercial paper 174,601 11 (13) 174,599 Level 2 U.S. Treasuries 2,003 — — 2,003 Level 2 Asset-backed securities 10,115 1 (3) 10,113 Level 2 Corporate bonds 18,285 — (5) 18,280 Level 2 International government securities 2,000 — — 2,000 Level 2 Total investments 207,004 12 (21) 206,995 Total assets measured at fair value on a recurring basis $ 675,712 $ 12 $ (21) $ 675,703 As of December 31, 2020 (in thousands) Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Aggregate Fair Value Fair Value Level Cash and cash equivalents: Cash $ 138,977 $ — $ — $ 138,977 Level 1 Money market funds 23,568 — — 23,568 Level 1 Commercial paper 2,399 — — 2,399 Level 2 Total cash and cash equivalents 164,944 — — 164,944 Investments: Commercial paper 33,863 2 (2) 33,863 Level 2 Corporate bonds 6,093 — (2) 6,091 Level 2 Total investments 39,956 2 (4) 39,954 Total assets measured at fair value on a recurring basis $ 204,900 $ 2 $ (4) $ 204,898
Schedule of Fair Value of Liabilities Measured on Recurring Basis	The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: (in thousands) September 30, 2021 December 31, 2020 Fair Value Level Liabilities: Warrant liability - Public Warrants $ 19,044 $ — Level 1 Warrant liability - Private Placement Warrants 17,296 — Level 2 Earn-out liability 30,678 — Level 3 Compound derivative liability — 425 Level 3 Total liabilities measured at fair value on a recurring basis $ 67,018 $ 425
Schedule Fair Value of Liabilities, Unobservable Input Reconciliation	The change in the fair value of the warrant liabilities for the nine months ended September 30, 2021 is summarized as follows: (in thousands) Fair Value Fair value of warrant liabilities at Closing $ 28,229 Change in fair value of warrant liabilities 8,111 Balance as of September 30, 2021 $ 36,340 The change in the fair value of the earn-out liability for the nine months ended September 30, 2021 is summarized as follows: (in thousands) Fair Value Fair value of earn-out liability at Closing $ 25,016 Change in fair value of earn-out liability 5,662 Balance as of September 30, 2021 $ 30,678
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The significant unobservable inputs used in the Monte Carlo simulation to measure the Earn-Out Shares that are categorized within Level 3 of the fair value hierarchy as of September 30, 2021 and the Closing Date are as follows: September 30, 2021 September 1, 2021 Stock price on valuation date $ 12.39 $ 10.63 Volatility 88.2 % 89.8 % Risk-free rate 0.11 % 0.10 % Dividend yield — % — %

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Current Inventory	Inventory was comprised of the following at: (in thousands) September 30, 2021 December 31, 2020 Raw materials $ 14,283 $ 12,883 Finished goods 173 161 Total inventory $ 14,456 $ 13,044 Inventory (current) $ 10,646 $ 7,020 Non-current inventory $ 3,810 $ 6,024
Schedule of Noncurrent Inventory	Inventory was comprised of the following at: (in thousands) September 30, 2021 December 31, 2020 Raw materials $ 14,283 $ 12,883 Finished goods 173 161 Total inventory $ 14,456 $ 13,044 Inventory (current) $ 10,646 $ 7,020 Non-current inventory $ 3,810 $ 6,024

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment was comprised of the following at: (in thousands) September 30, 2021 December 31, 2020 Lab equipment $ 10,017 $ 9,865 Computer equipment 1,417 1,402 Furniture and fixtures 946 947 Software 3,366 2,657 Leasehold improvements 2,329 3,539 Construction in progress 3,252 81 Total property and equipment, at cost 21,327 18,491 Less: Accumulated depreciation and amortization (14,840) (14,578) Property and equipment, net $ 6,487 $ 3,913

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consisted of the following at: (in thousands) September 30, 2021 December 31, 2020 Accrued compensation $ 5,578 $ 5,378 Accrued charitable contributions 400 400 Accrued medical claims 348 307 Other 163 225 Total accrued liabilities $ 6,489 $ 6,310

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following at: (in thousands) September 30, 2021 December 31, 2020 Paycheck Protection Program loan $ — $ 3,520 Amended and Restated Credit Agreement — 33,087 Plus: Premium — 708 Less: Unamortized debt issuance costs — (2,566) Total long-term debt $ — $ 34,749 Current portion of long-term debt $ — $ 2,423 Long-term debt, net of current portion $ — $ 32,326

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation	Stock-based compensation was recorded in the condensed consolidated statements of operations and comprehensive loss as shown in the following table: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Cost of assay services revenue $ 102 $ 105 $ 283 $ 321 Cost of product revenue — 4 6 11 Research and development 7,712 683 9,286 2,097 Selling, general and administrative 4,870 2,295 11,125 7,404 Total stock-based compensation $ 12,684 $ 3,087 $ 20,700 $ 9,833
Summary of Stock Option Activity	The following table shows a summary of all stock option activity for the nine months ended September 30, 2021: (in thousands, except per share data) Number of Weighted Weighted Aggregate Outstanding as of December 31, 2020 11,350,934 $ 3.92 Granted 7,326,665 $ 5.72 Exercised (976,563) $ 2.92 Forfeited (387,978) $ 4.11 Expired (154,344) $ 2.26 Outstanding as of September 30, 2021 17,158,714 $ 4.75 8.26 $ 131,028 Exercisable as of September 30, 2021 7,376,966 $ 3.79 6.84 $ 63,422 Vested and expected to vest as of September 30, 2021 15,070,231 $ 4.66 8.11 $ 116,462
Schedule of Assumptions Used for Valuing Stock Options Granted	The assumptions used in valuing the stock options granted are set forth in the following table: Nine Months Ended September 30, 2021 2020 Expected dividend yield — % — % Expected volatility 86.8 – 92.8% 83.5 – 86.9% Risk-free interest rate 0.64 – 1.11% 0.34 – 0.44% Expected weighted-average life of options 6.04 years 5.95 years

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share using the two-class method: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2021 2020 2021 2020 Net loss $ (41,419) $ (7,483) $ (64,240) $ (44,101) Weighted-average shares used in computing net loss per share, basic and diluted 75,684,521 61,099,901 63,752,006 60,934,489 Net loss per share, basic and diluted $ (0.55) $ (0.12) $ (1.01) $ (0.72)
Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss Per Share	The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Stock options to purchase common stock 17,158,714 11,333,388 17,158,714 11,333,388 Public Warrants and Private Placement Warrants 10,533,324 — 10,533,324 — Convertible debt (on an if-converted basis) — 450,591 — 450,591 Total 27,692,038 11,783,979 27,692,038 11,783,979

Description of Business (Detail

Description of Business (Details)	12 Months Ended
	Dec. 31, 2020lease
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of early terminated leases	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2021$ / shares	Dec. 31, 2020$ / shares	Mar. 31, 2020USD ($)	Jul. 31, 2011USD ($)	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment$ / shares	Sep. 30, 2020USD ($)	Sep. 01, 2021	Feb. 28, 2021$ / sharesshares
Class of Stock [Line Items]
Exchange ratio									0.8381
Common stock, par value (in usd per share) | $ / shares	$ 0.0001	$ 0.0001			$ 0.0001		$ 0.0001
Collaboration revenue					$ 763	$ 763	$ 2,288	$ 1,720
Total other revenue					1,655	1,637	$ 7,306	2,636
Number of operating segments | segment							1
Royalties
Class of Stock [Line Items]
Total other revenue					$ 1,520	$ 1,627	$ 6,570	$ 2,608
NEC Corporation ("NEC") | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Class of Stock [Line Items]
Collaborative arrangements, upfront payments				$ 12,000
Collaborative arrangements, remaining performance obligation period				15 years
NEC Solution Innovators, Ltd. ("NES") | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Class of Stock [Line Items]
Collaborative arrangements, annual payments			$ 2,000
Collaborative arrangement, payment terms			5 years
Collaborative arrangements, total payment amount			$ 10,000
Collaboration revenue			$ 15,300
Collaborative arrangements, license of intellectual property, term			10 years
Public Warrants
Class of Stock [Line Items]
Exercise price of warrants (in usd per share) | $ / shares	11.50				$ 11.50		$ 11.50
Public Warrants | CMLS II
Class of Stock [Line Items]
Warrants issued (in shares) | shares										5,519,991
Private Placement Warrants
Class of Stock [Line Items]
Exercise price of warrants (in usd per share) | $ / shares	$ 11.50				11.50		11.50
Private Placement Warrants | CMLS II
Class of Stock [Line Items]
Warrants issued (in shares) | shares										5,013,333
Exercise price of warrants (in usd per share) | $ / shares										$ 11.50
Accounts Receivable | Geographic Concentration Risk | Non-US
Class of Stock [Line Items]
Concentration risk, percentage	18.00%	6.00%
Class A Common Stock
Class of Stock [Line Items]
Exchange ratio									0.8381
Common stock, par value (in usd per share) | $ / shares	$ 0.0001				$ 0.0001		$ 0.0001

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Concentration of Risk (Details) - Customer Concentration Risk	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Customer A | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	36.00%	26.00%
Customer A | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage			27.00%	23.00%	24.00%	35.00%
Customer B | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage		11.00%
Customer B | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage				39.00%	17.00%	20.00%
Customer C | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	25.00%
Customer C | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage				11.00%	11.00%
Customer D | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage		16.00%
Customer E | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%

Business Combination - Addition

Business Combination - Additional Information (Details) $ / shares in Units, $ in Millions	Sep. 01, 2021USD ($)$ / shares
Schedule of Reverse Recapitalization [Line Items]
Reverse recapitalization, cash paid to shareholders	$ 1,250
Reverse recapitalization, cash paid to shareholders, cash election related to issuance and rollover of shares	$ 50
Common Stock
Schedule of Reverse Recapitalization [Line Items]
Common stock issued, price per share (in usd per share) | $ / shares	$ 10

Business Combination - Earn-Out

Business Combination - Earn-Out Shares (Details)	Sep. 01, 2021$ / sharesshares
Schedule of Reverse Recapitalization [Line Items]
Earn-out shares, stock price trigger (in usd per share) | $ / shares	$ 20
Earnout period, threshold trading days	20 days
Earnout period, threshold consecutive trading days	30 days
Old SomaLogic Shareholders
Schedule of Reverse Recapitalization [Line Items]
Earn-out shares, additional shares (in shares)	3,500,125
Certain Employees and Directors
Schedule of Reverse Recapitalization [Line Items]
Earn-out shares, additional shares (in shares)	1,499,875

Business Combination - PIPE Inv

Business Combination - PIPE Investment (Details) $ / shares in Units, $ in Millions	Sep. 01, 2021USD ($)$ / sharesshares
Business Combination and Asset Acquisition [Abstract]
Common stock issued pursuant to the PIPE Investment (in shares) | shares	36,500,000
Purchase price (in usd per share) | $ / shares	$ 10
Proceeds from reverse recapitalization, gross | $	$ 365

Business Combination - CMLS II

Business Combination - CMLS II Shares (Details) - CMLS II $ / shares in Units, $ in Millions	Sep. 01, 2021USD ($)$ / sharesshares
Schedule of Reverse Recapitalization [Line Items]
Stock redeemed (in shares)	(809,850)
Stock price (in dollars per share) | $ / shares	$ 10
Stock redeemed, value | $	$ 8.1
Stock converted from reverse capitalization (in shares)	6,900,000
Stock converted, reverse recapitalization, conversion basis	100.00%

Business Combination - Summary

Business Combination - Summary of Shares (Details)	Sep. 01, 2021shares	Jul. 09, 2021shares	Nov. 20, 2020shares	Aug. 31, 2021shares	Jan. 31, 2020shares	Dec. 31, 2017shares	Dec. 31, 2020shares	Sep. 30, 2021shares	Jun. 30, 2021shares	Mar. 31, 2021shares	Nov. 30, 2020shares	Sep. 30, 2020shares	Jun. 30, 2020shares	Mar. 31, 2020shares	Dec. 31, 2019shares
Schedule of Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares)	181,163,363						114,266,515	181,164,377
Common stock issued (in shares)	36,500,000
Convertible preferred stock, shares outstanding (in shares)	31,485,973						0	0	0	0	26,388,394	0	0	0	0
Exchange ratio	0.8381
Common Stock
Schedule of Reverse Recapitalization [Line Items]
Stock converted from reverse capitalization (in shares)	110,973,213	571,642	4,443,906	12,342	1,236,135	670,480	52,776,787
Class A Common Stock
Schedule of Reverse Recapitalization [Line Items]
Exchange ratio	0.8381
Class B Common Stock
Schedule of Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares)	75,404,883
Common stock issued (in shares)						800,000
CMLS II
Schedule of Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares)				27,600,000
Less: CMLS II Redemption of shares (in shares)	(809,850)
Issuance of Common Stock upon Business Combination, net of transaction costs of $31,511 (in shares)	26,790,150
Stock converted from reverse capitalization (in shares)	6,900,000

Business Combination - Summar_2

Business Combination - Summary of Net Proceeds (Details) $ in Millions	Sep. 01, 2021USD ($)
Business Combination and Asset Acquisition [Abstract]
Gross proceeds	$ 619.4
Proceeds from reverse recapitalization, gross	365
Proceeds from CMLS II, gross	254.4
Reverse recapitalization, cash paid to shareholders, cash election related to issuance and rollover of shares	50
CMLS II and reverse recapitalization transaction costs	$ 39.3

Revenue - Summary of Disaggrega

Revenue - Summary of 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]
Collaboration revenue	$ 763	$ 763	$ 2,288	$ 1,720
Total other revenue	1,655	1,637	7,306	2,636
Total revenue	19,992	14,233	58,632	27,666
Assay services revenue
Disaggregation of Revenue [Line Items]
Revenue	17,499	11,378	48,308	22,166
Product revenue
Disaggregation of Revenue [Line Items]
Revenue	75	455	730	1,144
Royalties
Disaggregation of Revenue [Line Items]
Total other revenue	1,520	1,627	6,570	2,608
Other
Disaggregation of Revenue [Line Items]
Total other revenue	$ 135	$ 10	$ 736	$ 28

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 6,625	$ 5,177	$ 5,469
Deferred revenue related to collaboration	$ 4,700	$ 5,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance period	2 years 2 months 12 days

Revenue - Change in Contract Li

Revenue - Change in Contract Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Balance at beginning of period	$ 5,177	$ 5,469
Recognition of revenue included in balance at beginning of period	(1,499)	(1,003)
Revenue deferred during the period, net of revenue recognized	2,947	711
Balance at end of period	$ 6,625	$ 5,177

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	$ 468,708	$ 164,944	$ 26,475
Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	468,708	164,944
Investments, amortized cost	207,004	39,956
Investments, gross unrealized gain	12	2
Investments, gross unrealized loss	(21)	(4)
Investments, aggregate fair value	206,995	39,954
Total assets measured at fair value on a recurring basis, amortized cost	675,712	204,900
Total assets measured at fair value on a recurring basis, aggregate fair value	675,703	204,898
Level 1 | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Cash	432,581	138,977
Money market funds	19,129	23,568
Level 2 | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Commercial paper	16,998	2,399
Level 2 | Commercial paper | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	174,601	33,863
Investments, gross unrealized gain	11	2
Investments, gross unrealized loss	(13)	(2)
Investments, aggregate fair value	174,599	33,863
Level 2 | U.S. Treasuries | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	2,003
Investments, gross unrealized gain	0
Investments, gross unrealized loss	0
Investments, aggregate fair value	2,003
Level 2 | Asset-backed securities | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	10,115
Investments, gross unrealized gain	1
Investments, gross unrealized loss	(3)
Investments, aggregate fair value	10,113
Level 2 | Corporate bonds | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	18,285	6,093
Investments, gross unrealized gain	0	0
Investments, gross unrealized loss	(5)	(2)
Investments, aggregate fair value	18,280	$ 6,091
Level 2 | International government securities | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	2,000
Investments, gross unrealized gain	0
Investments, gross unrealized loss	0
Investments, aggregate fair value	$ 2,000

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liability	$ 30,678	$ 0
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities measured at fair value on a recurring basis	67,018	425
Level 1 | Fair Value, Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	19,044	0
Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liability	30,678	0
Compound derivative liability	0	425
Level 2 | Fair Value, Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 17,296	$ 0

Fair Value Measurements - Warra

Fair Value Measurements - Warrant Liabilities, Reconciliation (Details) - Public Warrants and Private Placement Warrants - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2021	Sep. 01, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of liabilities, beginning balance	$ 36,340	$ 28,229
Change in fair value of liability	8,111
Fair value of warrant liabilities, ending balance	$ 36,340

Fair Value Measurements - Earn-

Fair Value Measurements - Earn-out Liability, Inputs and Valuation Techniques (Details)	Sep. 30, 2021$ / shares	Sep. 01, 2021$ / shares
Stock price on valuation date
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	12.39	10.63
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	0.882	0.898
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	0.0011	0.0010
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	0	0

Fair Value Measurements - Ear_2

Fair Value Measurements - Earn-out Liability, Reconciliation (Details) - Earn-out Liability - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2021	Sep. 01, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities, beginning balance	$ 30,678	$ 25,016
Change in fair value of liability	5,662
Fair value of warrant liabilities, ending balance	$ 30,678

Fair Value Measurements - Compo

Fair Value Measurements - Compound Derivative Liability (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Jun. 29, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of compound derivative liability, increase	$ 4,800
Amendment fee related to extinguishment of debt financed through additional principal	2,500	$ 0	$ 2,500
Additional interest, premium		$ 0		$ 708
Amended and Restated Credit Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Additional interest, premium	$ 1,400				$ 1,400
Credit Spread
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input				0.08
Recovery Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input				0.69
Other Long Term Liabilities | Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of compound derivative liability				$ 400

Fair Value Measurements - Conve

Fair Value Measurements - Convertible Debt (Details) $ in Millions	Dec. 31, 2020USD ($)
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	$ 2.3

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 14,283	$ 12,883
Finished goods	173	161
Total inventory	14,456	13,044
Inventory (current)	10,646	7,020
Non-current inventory	$ 3,810	$ 6,024

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 21,327	$ 18,491
Less: Accumulated depreciation and amortization	(14,840)	(14,578)
Property and equipment, net	6,487	3,913
Lab equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	10,017	9,865
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	1,417	1,402
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	946	947
Software
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	3,366	2,657
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	2,329	3,539
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 3,252	$ 81

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 0.3	$ 0.6	$ 1.4	$ 1.7
Software
Property, Plant and Equipment [Line Items]
Amortization	$ 0.2	$ 0.1	$ 0.5	$ 0.4

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued compensation	$ 5,578	$ 5,378
Accrued charitable contributions	400	400
Accrued medical claims	348	307
Other	163	225
Total accrued liabilities	$ 6,489	$ 6,310

Commitment and Contingencies -

Commitment and Contingencies - Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease, termination fee	$ 0.3	$ 0.3
Operating lease, restricted cash deposits			$ 0.8	$ 0.3
Operating lease, future commitments			$ 5.2

Commitment and Contingencies _2

Commitment and Contingencies - SAFE Agreement (Details) - USD ($) $ in Millions	Sep. 01, 2021	Jul. 09, 2021	Nov. 20, 2020	Aug. 31, 2021	Dec. 31, 2020	Nov. 30, 2020	Jan. 31, 2020	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
SAFE Agreement, rights and obligations, fixed payment										$ 5
Proceeds from SAFE agreement							$ 5
Issuance and sale of redeemable convertible preferred stock (in shares)					11,434,248	14,954,146	737,463
Common Stock
Class of Stock [Line Items]
Stock converted from reverse capitalization (in shares)	110,973,213	571,642	4,443,906	12,342			1,236,135	670,480	52,776,787

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Sep. 30, 2021	Apr. 09, 2021	Dec. 31, 2020	Jun. 30, 2020	Jun. 29, 2020
Debt Instrument [Line Items]
Plus: Premium	$ 0		$ 708,000
Less: Unamortized debt issuance costs	0		(2,566,000)
Total long-term debt	0		34,749,000
Current portion of long-term debt	0		2,423,000
Long-term debt	0		32,326,000
Paycheck Protection Program loan | Paycheck Protection Program loan
Debt Instrument [Line Items]
Debt, gross	0		3,520,000
Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt, gross	$ 0	$ 33,300,000	$ 33,087,000
Plus: Premium				$ 1,400,000	$ 1,400,000

Debt - Convertible Debt (Detail

Debt - Convertible Debt (Details)

Sep. 01, 2021shares

Jul. 09, 2021shares

Nov. 20, 2020shares

Aug. 31, 2021shares

Jan. 31, 2020shares

Dec. 31, 2017shares

Dec. 31, 2020shares

Sep. 30, 2021USD ($)

Sep. 30, 2020USD ($)

Sep. 30, 2021USD ($)

Sep. 30, 2020USD ($)

Jun. 30, 2017

Mar. 31, 2007USD ($)

Debt Instrument [Line Items]

Loss on extinguishment of debt, net

$ (2,693,000)

$ 0

$ (4,323,000)

$ 0

Common Stock

Debt Instrument [Line Items]

Stock converted from reverse capitalization (in shares) | shares

110,973,213

571,642

4,443,906

12,342

1,236,135

670,480

52,776,787

Class B Common Stock

Debt Instrument [Line Items]

Debt conversion, converted instrument, shares issued (in shares) | shares

682,070

Convertible Debt

Debt Instrument [Line Items]

Debt, principal amount

$ 2,000,000

Interest rate

3.75%

Debt, decrease in carrying value

100,000

Amortization of discount (less than)

100,000

$ 100,000

Loss on extinguishment of debt, net

(2,700,000)

Debt outstanding

0

0

Interest expense (less than)

$ 100,000

$ 100,000

Convertible Debt | Common Stock

Debt Instrument [Line Items]

Convertible debt, conversion ratio (in usd per share)

3.72

Convertible Debt | Preferred Stock

Debt Instrument [Line Items]

Convertible debt, conversion ratio (in usd per share)

5.87

Debt - Paycheck Protection Prog

Debt - Paycheck Protection Program (Details) - Paycheck Protection Program loan - Paycheck Protection Program loan - USD ($)	Sep. 30, 2021	Jun. 21, 2021	Dec. 31, 2020	Apr. 30, 2020	Apr. 13, 2020
Debt Instrument [Line Items]
Debt, principal amount				$ 3,500,000
Interest rate					0.98%
Accrued interest (less than)		$ 100,000
Debt outstanding	$ 0		$ 3,520,000

Debt - Amended and Restated Cre

Debt - Amended and Restated Credit Agreement (Details) - USD ($)	Sep. 01, 2021	Jul. 09, 2021	Apr. 09, 2021	Nov. 20, 2020	Aug. 31, 2021	Jan. 31, 2020	Dec. 31, 2017	Feb. 29, 2016	Dec. 31, 2020	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Jun. 29, 2020
Debt Instrument [Line Items]
Common stock issued (in shares)	36,500,000
Fair value of common stock issued										$ 357,198,000
Additional interest, premium									$ 708,000	0			$ 0
Issuance of Common Stock for conversion of convertible debt													4,631,000	$ 0
Loss on extinguishment of debt, net										2,693,000		$ 0	4,323,000	0
Paid-in-kind interest													165,000	329,000
Class B Common Stock
Debt Instrument [Line Items]
Common stock issued (in shares)							800,000
Common stock issued, price per share (in usd per share)							$ 12.35
Fair value of common stock issued							$ 9,900,000
Debt conversion, converted instrument, shares issued (in shares)		682,070
Redeemable Convertible Preferred Stock
Debt Instrument [Line Items]
Debt conversion, converted instrument, shares issued (in shares)				2,651,179
Common Stock
Debt Instrument [Line Items]
Common stock issued, price per share (in usd per share)	$ 10
Stock converted from reverse capitalization (in shares)	110,973,213	571,642		4,443,906	12,342	1,236,135	670,480		52,776,787
Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Proceeds from debt, net of issuance costs							$ 3,400,000	$ 35,000,000
Payments of issuance costs								$ 800,000
Additional debt recorded to PIK							1,600,000
Financing fees							$ 200,000
Interest rate				11.00%												12.00%
Interest rate, deferred option				2.00%												3.00%
Amendment fee																$ 2,500,000
Additional interest, premium															$ 1,400,000	$ 1,400,000
Issuance of Common Stock for conversion of convertible debt				$ 18,000,000
Payment of debt prepayment cost				10,000,000
Payment of debt prepayment cost, prepayment penalty fees			$ 4,000,000	2,500,000
Payment of debt prepayment cost, debt prepayment amendment fees				$ 5,500,000
Debt outstanding			$ 33,300,000						$ 33,087,000	0			0
Loss on extinguishment of debt, net											$ 5,200,000
Interest expense (less than)										$ 0		1,500,000	1,200,000	4,600,000
Noncash amortization of debt issuance costs												400,000	300,000	1,700,000
Amortization of premium												300,000	100,000	200,000
Paid-in-kind interest												$ 300,000	$ 200,000	$ 300,000
Amended and Restated Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Floor rate								1.00%
Basis spread on variable rate							8.86%	12.50%

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Details)	Sep. 01, 2021shares	Aug. 31, 2021	Jul. 09, 2021shares	Nov. 20, 2020shares	Aug. 31, 2021shares	Dec. 31, 2020USD ($)$ / sharesshares	Nov. 30, 2020$ / sharesshares	Jan. 31, 2020shares	Dec. 31, 2017shares	Dec. 31, 2020USD ($)$ / sharesshares	Sep. 30, 2021shares	Jun. 30, 2021shares	Mar. 31, 2021shares	Sep. 30, 2020shares	Jun. 30, 2020shares	Mar. 31, 2020shares	Dec. 31, 2019shares
Temporary Equity [Line Items]
Issuance and sale of redeemable convertible preferred stock (in shares)						11,434,248	14,954,146	737,463
Issuance and sale of redeemable convertible preferred stock, price per share (in dollars per share) | $ / shares						$ 6.78	$ 6.78			$ 6.78
Aggregate purchase price | $										$ 213,500,000
Equity issuance costs | $										$ 11,400,000
Convertible preferred stock, shares authorized (in shares)						83,810,000				83,810,000	0
Convertible preferred stock, shares issued (in shares)							26,388,394				0
Convertible preferred stock, shares outstanding (in shares)	31,485,973					0	26,388,394			0	0	0	0	0	0	0	0
Convertible preferred stock, liquidation preference | $						$ 213,500,000				$ 213,500,000
Exchange ratio	0.8381
Common Stock
Temporary Equity [Line Items]
Stock converted from reverse capitalization (in shares)	110,973,213		571,642	4,443,906	12,342			1,236,135	670,480	52,776,787
Class B Common Stock
Temporary Equity [Line Items]
Conversion ratio		2

Equity (Details)

Equity (Details)	Sep. 30, 2021$ / sharesshares	Sep. 01, 2021shares	Dec. 31, 2020$ / shares
Class of Warrant or Right [Line Items]
Common stock, shares authorized (in shares) | shares	600,000,000	600,000,000
Common stock, par value (in usd per share)	$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares) | shares	1,000,000	1,000,000
Preferred stock, par value (in usd per share)	$ 0.0001		$ 0.0001
Fair market value price period	10 days
Fair market value, maximum conversion ratio	0.361
Common stock equals or exceeds $10
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 10
Redemption price (in usd per share)	$ 0.10
Notice required for redemption of warrants	30 days
Trading days threshold for warrant redemption	20 days
Consecutive trading days threshold for redemption	30 days
Business days required for notice	3 days
Common stock equals or exceeds $10 | Minimum
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 10
Common stock equals or exceeds $10 | Maximum
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	18
Common stock equals or exceeds $18
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	18
Redemption price (in usd per share)	$ 0.01
Notice required for redemption of warrants	30 days
Trading days threshold for warrant redemption	20 days
Consecutive trading days threshold for redemption	30 days
Business days required for notice	3 days
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	5,519,991
Exercise price of warrants (in usd per share)	$ 11.50
Private Placement Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	5,013,333
Exercise price of warrants (in usd per share)	$ 11.50

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	Sep. 01, 2021shares	Jul. 09, 2021shares	Nov. 20, 2020shares	Sep. 30, 2021USD ($)$ / sharesshares	Aug. 31, 2021shares	Jan. 31, 2020shares	Dec. 31, 2017shares	Dec. 31, 2020shares	Sep. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Aug. 31, 2021plan	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | plan												2
Options outstanding (in shares)				17,158,714				11,350,934	17,158,714				17,158,714
Total intrinsic value of options exercised | $									$ 100		$ 100		$ 1,800	$ 300
Weighted-average grant date fair value for options granted (in dollar per share) | $ / shares													$ 3.78	$ 1.72
Common stock, shares issued (in shares)				181,164,377				114,266,515	181,164,377				181,164,377
Forfeiture rate				5.00%
Stock-based compensation | $									$ 12,684		3,087		$ 20,700	$ 9,833
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to secondary sale transaction | $									6,500				6,500
Stock-based compensation | $									4,870		$ 2,295		$ 11,125	$ 7,404
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock converted from reverse capitalization (in shares)	110,973,213	571,642	4,443,906		12,342	1,236,135	670,480	52,776,787
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period													4 years
Compensation expense not yet recognized | $				$ 28,600					28,600				$ 28,600
Compensation expense not yet recognized, weighted average period													2 years 7 months 20 days
Incremental stock-based compensation expense | $										$ 700
Risk-free interest rate, minimum													0.64%	0.34%
Risk-free interest rate, maximum													1.11%	0.44%
Stock Option Awards | First-year anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage													25.00%
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense not yet recognized | $				700					700				$ 700
Performance Awards | Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)					14,727
Stock-based compensation | $									800				800
Earn-Out Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense not yet recognized | $				$ 9,000					$ 9,000				$ 9,000
Compensation expense not yet recognized, weighted average period				1 year 2 months 12 days
Number of shares outstanding (in shares)				1,494,208					1,494,208				1,494,208
Weighted-average grant date fair value for awards granted (in dollars per share) | $ / shares				$ 7.04
Expected volatility				89.80%
Risk-free interest rate, minimum				0.10%
Risk-free interest rate, maximum				0.11%
Stock-based compensation | $				$ 1,000
Earn-Out Shares | Merger Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)	1,499,875
Earn-Out Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price (in dollars per share) | $ / shares				$ 10.63					$ 10.63				$ 10.63
Earn-Out Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price (in dollars per share) | $ / shares				$ 10.67					$ 10.67				$ 10.67
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue (in shares)				21,300,000					21,300,000				21,300,000
Number of awards granted (in shares)				0
Number of shares reserved for issuance (in shares)				38,471,506					38,471,506				38,471,506
Outside Inventive Plan, 2017 and 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				11,899,636					11,899,636				11,899,636
Outside Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)				5,259,078					5,259,078				5,259,078

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock-based Compensation (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]
Stock-based compensation	$ 12,684	$ 3,087	$ 20,700	$ 9,833
Cost of revenue | Assay services revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	102	105	283	321
Cost of revenue | Product revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	0	4	6	11
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	7,712	683	9,286	2,097
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 4,870	$ 2,295	$ 11,125	$ 7,404

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020$ / shares
Number of Shares
Outstanding, beginning balance (in shares)	11,350,934
Granted (in shares)	7,326,665
Exercised (in shares)	(976,563)
Forfeited (in shares)	(387,978)
Expired (in shares)	(154,344)
Outstanding, ending balance (in shares)	17,158,714
Exercisable (in shares)	7,376,966
Vested and expected to vest (in shares)	15,070,231
Weighted Average Exercise Price Per Share
Outstanding, balance (in dollars per share) | $ / shares	$ 4.75	$ 3.92
Granted (in dollars per share) | $ / shares	5.72
Exercised (in dollars per share) | $ / shares	2.92
Forfeited (in dollars per share) | $ / shares	4.11
Expired (in dollars per share) | $ / shares	2.26
Exercisable (in dollars per share) | $ / shares	3.79
Vested and expected to vest (in dollars per share) | $ / shares	$ 4.66
Weighted Average Remaining Contractual Life (in years)
Outstanding, Weighted Average Remaining Contractual Life	8 years 3 months 3 days
Exercisable, Weighted Average Remaining Contractual Life	6 years 10 months 2 days
Vested and expected to vest, Weighted Average Remaining Contractual Life	8 years 1 month 9 days
Aggregate Intrinsic Value
Outstanding, Aggregate Intrinsic Value | $	$ 131,028
Exercisable, Aggregate Intrinsic Value | $	63,422
Vested and expected to vest, Aggregate Intrinsic Value | $	$ 116,462

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Assumptions Used for Valuing Stock Options Granted (Details) - Stock Option Awards	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Expected volatility, minimum	86.80%	83.50%
Expected volatility, maximum	92.80%	86.90%
Risk-free interest rate, minimum	0.64%	0.34%
Risk-free interest rate, maximum	1.11%	0.44%
Expected weighted-average life of options	6 years 14 days	5 years 11 months 12 days

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax provision	$ 0	$ 0	$ 0	$ 0

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Employer matching contribution, percentage of match			100.00%
Employer matching contribution, percentage of eligible participant contributions			4.00%
Amount of cost for defined contribution plan	$ 0.2	$ 0.2	$ 0.8	$ 0.6

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Class of Stock [Line Items]
Payments for charitable contributions				$ 100
Accrued charitable contributions, current		$ 400		400		$ 400
Accrued charitable contributions		500		500
Accrued charitable contributions, noncurrent		100		100
Selling, general and administrative		20,632	$ 8,337	48,274	$ 26,755
Master Agreement
Class of Stock [Line Items]
Selling, general and administrative		1,000
Performance Awards
Class of Stock [Line Items]
Compensation expense not yet recognized		$ 700		$ 700
Performance Awards | Class B Common Stock
Class of Stock [Line Items]
Number of awards granted (in shares)	14,727

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (41,419)	$ (13,337)	$ (9,484)	$ (7,483)	$ (19,039)	$ (17,579)	$ (64,240)	$ (44,101)
Weighted-average shares used in computing net loss per share, basic (in shares)	75,684,521			61,099,901			63,752,006	60,934,489
Weighted-average shares used in computing net loss per share, diluted (in shares)	75,684,521			61,099,901			63,752,006	60,934,489
Net loss per share, basic (in dollars per share)	$ (0.55)			$ (0.12)			$ (1.01)	$ (0.72)
Net loss per share, diluted (in dollars per share)	$ (0.55)			$ (0.12)			$ (1.01)	$ (0.72)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss Per Share (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]
Antidilutive securities excluded from computation of earnings per share (in shares)	27,692,038	11,783,979	27,692,038	11,783,979
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	17,158,714	11,333,388	17,158,714	11,333,388
Public Warrants and Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	10,533,324	0	10,533,324	0
Convertible debt (on an if-converted basis)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	450,591	0	450,591