SomaLogic (SLGCW) 10-K 29 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 18, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		182,110,874
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its 2022 Annual Meeting of Stockholders (the “2022 Proxy Statement”), which will be filed with the United States Securities and Exchange Commission within 120 days of December 31, 2021, are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated.
Entity Central Index Key	0001837412
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Public Float			$ 0
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	SLGC
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Common Stock
Trading Symbol	SLGCW
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Denver, Colorado

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 439,488	$ 164,944
Investments	218,218	39,954
Accounts receivable, net	17,074	17,449
Inventory	11,213	7,020
Deferred costs of services	462	1,450
Prepaid expenses and other current assets	5,097	1,158
Total current assets	691,552	231,975
Non-current inventory	4,085	6,024
Property and equipment, net	9,557	3,913
Other long-term assets	908	378
Total assets	706,102	242,290
Current liabilities
Accounts payable	15,089	7,064
Accrued liabilities	11,109	6,310
Deferred revenue	3,021	1,762
Deferred rent	66	238
Current portion of long-term debt	0	2,423
Total current liabilities	29,285	17,797
Warrant liabilities	35,181	0
Earn-out liability	26,885	0
Deferred revenue, net of current portion	2,364	3,415
Convertible debt	0	1,926
Long-term debt	0	32,326
Other long-term liabilities	363	909
Total liabilities	94,078	56,373
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding at December 31, 2021 and 2020	0	0
Common stock, $0.0001 par value; 600,000,000 shares authorized; 181,552,241 and 114,266,515 shares issued and outstanding at December 31, 2021 and 2020, respectively	18	11
Additional paid-in capital	1,110,991	597,274
Accumulated other comprehensive loss	(72)	(2)
Accumulated deficit	(498,913)	(411,366)
Total stockholders’ equity	612,024	185,917
Total liabilities and stockholders’ equity	$ 706,102	$ 242,290

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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	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	600,000,000
Common stock, shares issued (in shares)	181,552,241	114,266,515
Common stock, shares outstanding (in shares)	181,552,241	114,266,515

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Collaboration revenue	$ 763	$ 2,288	$ 3,051	$ 2,483
Other revenue	1,655	7,306	9,260	5,672
Total revenue	19,992	58,632	81,626	55,889
Operating expenses
Research and development	15,596	32,304	43,496	30,749
Selling, general and administrative	20,632	48,274	77,971	36,882
Total operating expenses	44,998	103,578	154,930	90,245
Loss from operations	(25,006)	(44,946)	(73,304)	(34,356)
Other (expense) income
Interest income and other, net	55	126	225	230
Interest expense	(2)	(1,324)	(1,324)	(18,338)
Change in fair value of warrant liabilities	(8,111)	(8,111)	(6,952)	0
Change in fair value of earn-out liability	(5,662)	(5,662)	(1,869)	0
Loss on extinguishment of debt, net	(2,693)	(4,323)	(4,323)	(551)
Total other expense	(16,413)	(19,294)	(14,243)	(18,659)
Net loss	(41,419)	(64,240)	(87,547)	(53,015)
Other comprehensive loss
Net unrealized loss on available-for-sale securities	(15)	(7)	(68)	(25)
Foreign currency translation loss	(4)	(3)	(2)	(4)
Total other comprehensive loss	(19)	(10)	(70)	(29)
Comprehensive loss	$ (41,438)	$ (64,250)	$ (87,617)	$ (53,044)
Net loss per share, basic (in dollars per share)	$ (0.30)	$ (0.53)	$ (0.64)	$ (0.81)
Net loss per share, diluted (in dollars per share)	$ (0.30)	$ (0.53)	$ (0.64)	$ (0.81)
Weighted-average shares used in computing net loss per share, basic (in shares)	137,176,228	122,268,443	137,157,283	65,161,358
Weighted-average shares used in computing net loss per share, diluted (in shares)	137,176,228	122,268,443	137,157,283	65,161,358
Assay services revenue
Revenues [Abstract]
Revenue	$ 17,499	$ 48,308	$ 68,038	$ 45,827
Operating expenses
Cost of revenue	8,737	22,548	32,782	21,857
Product revenue
Revenues [Abstract]
Revenue	75	730	1,277	1,907
Operating expenses
Cost of revenue	$ 33	$ 452	$ 681	$ 757

Consolidated Statements of Rede

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity - USD ($) $ in Thousands	Total	Originally Reported	Revision of Prior Period, Adjustment	Common Stock	Common StockOriginally Reported	Common StockRevision of Prior Period, Adjustment	Treasury Stock	Treasury StockOriginally Reported	Treasury StockRevision of Prior Period, Adjustment	Additional Paid-In Capital	Additional Paid-In CapitalOriginally Reported	Additional Paid-In CapitalRevision of Prior Period, Adjustment	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Originally Reported	Accumulated Deficit	Accumulated DeficitOriginally Reported
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 shares, net of costs (in shares)				52,776,787
Issuance of shares, net of costs	202,116			$ 5						202,111
Issuance of Common Stock upon exercise of options (in shares)				616,955
Issuance of Common Stock upon exercise of options	1,110			$ 0						1,110
Issuance of Common Stock for services (in shares)				73,752
Issuance of Common Stock for services	227									227
Stock-based compensation	14,945									14,945
Surrender of shares in cashless exercise (in shares)				(481)
Surrender of shares in cashless exercise	(5)									(5)
Net unrealized loss on available-for-sale securities	(25)												(25)
Foreign currency translation loss	(4)												(4)
Other	148									148
Net loss	$ (53,015)														(53,015)
Common stock, ending balance (in shares) at Dec. 31, 2020	114,266,515			114,266,515			0
Common stock, ending balance at Dec. 31, 2020	$ 185,917			$ 11			$ 0			597,274			(2)		(411,366)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares, net of costs (in shares)				36,500,000
Issuance of shares, net of costs	$ 357,198			$ 4						357,194
Issuance of Common Stock upon exercise of options (in shares)	1,311,307			1,311,326
Issuance of Common Stock upon exercise of options	$ 4,001									4,001
Issuance of Common Stock for services (in shares)				228,199
Issuance of Common Stock for services	1,337									1,337
Stock-based compensation	27,042									27,042
Surrender of shares in cashless exercise (in shares)				(15,189)
Surrender of shares in cashless exercise	(56)									(56)
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 (in shares)				28,689,748
Issuance of Common Stock upon Business Combination, net of transaction costs of $31,511	119,571			$ 3						119,568
Net unrealized loss on available-for-sale securities	(68)												(68)
Foreign currency translation loss	(2)												(2)
Net loss	$ (87,547)														(87,547)
Common stock, ending balance (in shares) at Dec. 31, 2021	181,552,241			181,552,241			0
Common stock, ending balance at Dec. 31, 2021	$ 612,024			$ 18			$ 0			$ 1,110,991			$ (72)		$ (498,913)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares, net of costs (in shares)	36,500,000
Common stock, ending balance (in shares) at Sep. 01, 2021	181,163,363

Consolidated Statements of Re_2

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Statement of Stockholders' Equity [Abstract]
Acquisition, transaction costs	$ 31,511
PIPE investment, transaction costs	$ 7,802

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net loss	$ (87,547,000)	$ (53,015,000)
Adjustments to reconcile net loss to cash used in operating activities:
Stock-based compensation expense	28,415,000	15,172,000
Depreciation and amortization	2,569,000	2,823,000
Amortization of debt issuance costs, discounts and premiums	258,000	1,670,000
Change in fair value of compound derivative liability	7,000	12,327,000
Change in fair value of warrant liabilities	6,952,000	0
Change in fair value of earn-out liability	1,869,000	0
Amortization of premium (accretion of discount) on available-for-sale securities, net	380,000	(55,000)
Provision for excess and obsolete inventory	703,000	102,000
(Recovery) provision for doubtful accounts	(8,000)	60,000
Loss on extinguishment of debt, net	4,323,000	551,000
Loss on disposal of equipment	0	98,000
Paid-in-kind interest	165,000	587,000
Other	12,000	9,000
Changes in operating assets and liabilities:
Accounts receivable	383,000	(13,306,000)
Inventory	(2,957,000)	483,000
Deferred costs of services	988,000	(1,194,000)
Prepaid expenses and other current assets	(3,909,000)	165,000
Other long-term assets	0	211,000
Accounts payable	6,460,000	4,025,000
Deferred revenue	208,000	(292,000)
Accrued and other liabilities	4,509,000	1,241,000
Payment of paid-in-kind interest on extinguishment of debt	(752,000)	0
Net cash used in operating activities	(36,972,000)	(28,338,000)
Investing activities
Proceeds from sale of property and equipment	10,000	51,000
Purchase of property and equipment	(6,729,000)	(1,157,000)
Purchase of available-for-sale securities	(279,918,000)	(45,702,000)
Proceeds from sales and maturities of available-for-sale securities	101,206,000	37,273,000
Net cash used in investing activities	(185,431,000)	(9,535,000)
Financing activities
Repayment of long-term debt	(36,512,000)	0
Proceeds from PIPE Investment, net of transaction costs	357,198,000	0
Proceeds from Business Combination, net of transaction costs	172,858,000	0
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs	0	179,141,000
Proceeds from Paycheck Protection Program loan	0	3,520,000
Proceeds from SAFE agreement	0	5,000,000
Proceeds from exercise of stock options	3,947,000	1,105,000
Net cash provided by financing activities	497,491,000	188,766,000
Effect of exchange rates on cash, cash equivalents and restricted cash	(14,000)	(9,000)
Net increase in cash, cash equivalents and restricted cash	275,074,000	150,884,000
Cash, cash equivalents and restricted cash at beginning of period	165,194,000	14,310,000
Cash, cash equivalents and restricted cash at end of period	440,268,000	165,194,000
Supplemental cash flow information:
Cash paid for interest	1,627,000	3,730,000
Supplemental disclosure of non-cash investing and financing activities:
Purchase of property and equipment included in accounts payable	1,492,000	19,000
Surrender of shares in cashless exercise	56,000	6,000
Amendment fee related to extinguishment of debt financed through additional principal	0	2,500,000
Redeemable convertible preferred stock issued for debt prepayment penalty in connection with debt modification	0	2,500,000
Redeemable convertible preferred stock issued for prepayment of principal penalty in connection with debt modification	0	10,000,000
Redeemable convertible preferred stock issued for debt issuance costs in connection with debt modification	0	5,475,000
Redeemable convertible preferred stock issued for conversion of SAFE agreement	0	5,000,000
Redeemable convertible preferred stock issued for issuance costs	0	1,500,000
Redeemable convertible preferred stock issuance costs included in accounts payable	0	2,501,000
Issuance of Common Stock for services	1,334,000	227,000
Forgiveness of Paycheck Protection Program loan and accrued interest	3,561,000	0
Issuance of Common Stock for conversion of convertible debt	4,631,000	0
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	439,488,000	164,944,000
Restricted cash included in other long-term assets	780,000	250,000
Total cash, cash equivalents and restricted cash at end of period	$ 440,268,000	$ 165,194,000

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 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 off-rate 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 listed on the Nasdaq under the ticker symbols “SLGC” and "SLGCW", respectively. 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 ). Our suppliers have been impacted by the COVID-19 pandemic, and we have experienced supply delays for certain equipment, instrumentation and other supplies that we use for our services and products Despite the economic challenges due to the COVID-19 pandemic, we ended fiscal year 2020 with revenue growth of 74% year over year and we ended fiscal year 2021 with revenue growth of 46% compared to fiscal year 2020. We also benefited from our cost savings actions which included reduction in travel and non-essential spending. 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	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The consolidated 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 consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for 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”). 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. Certain reclassifications have been made to prior period amounts to conform to the current presentation. Correction of Error in Previously Reported 2021 Interim Consolidated Financial Statements In connection with our year-end financial close process and related preparation of our 2021 Annual Report on Form 10-K, a misstatement of net loss per share was identified in our previously filed 2021 unaudited interim consolidated financial statements for the quarter and year-to date periods ended September 30, 2021 related to the calculation of the weighted average shares outstanding used as the denominator to calculate net loss per share in the condensed consolidated statements of operations and comprehensive loss. The weighted average shares outstanding was inconsistent with the presentation of outstanding common stock in the consolidated balance sheets and statements of stockholders’ equity, which reflected the recapitalization of common stock based on the Exchange Ratio retrospectively to the earliest period presented. For further information, see Note 19, Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited) . 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 December 31, Year Ended December 31, 2021 2020 2021 2020 Customer A 10% 26% 21 % 30 % Customer B * 11% 13 % 26 % Customer C 20% 25% 10 % * Customer D 26% 16% * * * less than 10% International sales entail a variety of risks, including currency exchange fluctuations, longer payment cycles, and greater difficulty in accounts receivable collection. The risks of international sales are mitigated in part by the fact that contracts are in U.S. dollars. Customers outside the United States collectively represent 31% and 35% of the Company’s revenues for the years ended December 31, 2021 and 2020, respectively. Customers outside of the United States collectively represented 18% and 23% of the Company’s gross accounts receivable balance as of December 31, 2021 and 2020, respectively. Certain components included in our products require customization and are obtained from a single source or a limited number of suppliers. Foreign Currency Translation The functional currency of the Company’s foreign subsidiary is the British pound sterling. In preparing its consolidated financial statements, the Company is required to translate the financial statements of this subsidiary from British pounds sterling to U.S. dollars. Accordingly, the assets and liabilities of the Company’s subsidiary are translated into U.S. dollars at current exchange rates and the results of operations are translated at the average exchange rates for the period. Since the Company’s functional currency is deemed to be the local currency, any gain or loss associated with the translation of its consolidated financial statements is included in other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. Net foreign currency transaction gains (losses) were not significant for the years ended December 31, 2021 and 2020. Cash and Cash Equivalents Cash and cash equivalents consist of cash deposits and short-term, highly liquid investments that are readily convertible into cash, with original maturities of three months or less. Cash equivalents consist primarily of amounts invested in money market funds and commercial paper and are stated at fair value. Restricted Cash Restricted cash represents cash on deposit with a financial institution as security for a letter of credit outstanding for the benefit of the landlord related to an operating lease for one of the Company’s laboratory facilities. The restricted cash is classified as a long-term asset on the consolidated balance sheets based on the term of the underlying lease. Investments The Company has designated all investments, which consist of U.S. Treasury securities, asset-backed securities, commercial paper, and corporate bonds, as available-for-sale securities. Available-for-sale securities are reported at fair value on the consolidated balance sheets, with unrealized gains and losses excluded from earnings and reported as a component of other comprehensive (loss) income. Realized gains and losses, amortization of premiums and discounts, and interest and dividends earned on available-for-sale securities are included in interest income and other in the consolidated statements of operations and comprehensive loss. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. The Company determines the appropriate classification of its debt securities at the time of purchase based on their maturities and re-evaluates such classification at each balance sheet date. A decline in the fair value of a security below its cost that is deemed to be other-than-temporary is recorded as interest income and other, net and results in the establishment of a new basis for the security. Factors evaluated to determine if an investment is other-than-temporarily impaired include significant deterioration in earnings performance, credit rating, asset quality or business prospects of the issuer; adverse changes in the general market conditions in which the issuer operates; the Company’s intent to sell the security, and whether or not the Company will be required to sell the security before the recovery of its amortized cost. Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, or the exit price, in the principal or most advantageous market for that asset or liability to be transferred in an orderly transaction between market participants on the measurement date. ASC 820, Fair Value Measurements , establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The hierarchy defines three levels of inputs that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument categorization within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Our financial instruments consist of Level 1, Level 2, and Level 3 assets and liabilities. The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities, approximate fair value due to their relatively short-term maturities. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are stated at the amount management expects to collect from customers based on their outstanding invoices. We review accounts receivable regularly to determine if any receivable may not be collectible. Management estimates the amount of the allowance for doubtful accounts necessary to reduce accounts receivable to its estimated net realizable value by analyzing the status of significant past due receivables and current and historical bad debt trends. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and ceases collection efforts. We did not write off any material accounts receivable balances during the years ended December 31, 2021 and 2020. Accounts receivable consisted of the following: December 31, (in thousands) 2021 2020 Accounts receivable $ 17,146 $ 17,529 Less: allowance for doubtful accounts (72) (80) Accounts receivable, net $ 17,074 $ 17,449 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 consolidated balance sheets. Deferred Costs of Services Deferred costs of services relate to costs incurred to run customer samples through the SomaScan® assay. These costs are deferred until the final report is provided to the customer and the related revenue is recognized. Property and Equipment Property and equipment is stated at cost, less accumulated depreciation and amortization. Additions and improvements that extend the lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Depreciation for property and equipment is recorded on a straight-line basis over the estimated useful lives of the assets, which we estimate to be: lab equipment, 1 to 5 years; computer equipment, 3 years; furniture and fixtures, 4 years; and software, the shorter of 5 years or its useful life. Leasehold improvements are amortized over the shorter of the life of the lease term or the estimated useful life of the assets. The Company capitalizes certain internal and external costs related to the acquisition and development of internal use software during the application development stages of projects. When the software is ready for its intended use, the Company amortizes these costs using the straight-line method over the estimated useful life of the asset. Costs incurred during the preliminary project or the post-implementation/operation stages of the project are expensed as incurred. Costs for capital assets not yet placed into service are capitalized as construction in progress and depreciated once placed into service. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is included in loss from operations. Impairment of Long-Lived Assets The Company evaluates a long-lived asset (or asset group) for impairment whenever events or changes in circumstances indicate that the carrying value of the asset (or asset group) may not be recoverable. If indicators of impairment exist and the undiscounted future cash flows that the asset is expected to generate are less than the carrying value of the asset, an impairment loss is recorded to write down the asset to its estimated fair value based on a discounted cash flow approach. There were no impairment losses recorded for the years ended December 31, 2021 and 2020. Leases Leases are reviewed and classified as capital or operating at their inception in accordance with ASC 840, Leases . The Company enters into lease agreements for its administrative and laboratory facilities, which are classified as operating leases. The Company records rent expense on a straight-line basis over the term of the lease, which includes the lease extension periods, if appropriate. The difference between rent payments and straight-line rent expense is recorded as deferred rent in current or other long-term liabilities, as appropriate. Lease agreements may include tenant improvement allowances from landlords. The Company recognizes these allowances as leasehold incentive obligations in deferred rent and amortizes them on a straight-line basis over the lease term as a reduction to rent expense. Leasehold improvements are capitalized and included in property and equipment on the 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 December 31, 2021. We classify the Warrants as liabilities on our consolidated balance sheets 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 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 subsequent changes in fair value recognized within change in fair value of earn-out liability in the 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 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 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 JDCA, to develop and commercialize SomaScan ® services in Japan, as described in the section entitled “Collaboration Agreements” above. 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 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 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 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 $8.5 million and $5.3 million for the years ended December 31, 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 consolidated statements of operations and comprehensive loss. Cost of Assay Services Revenue Cost of assay services revenue consists of raw materials and production costs, salaries and other personnel costs, overhead and other direct costs related to assay services revenue. It also includes provisions for excess or obsolete inventory and costs for production variances, such as yield losses, material usages, spending and capacity variances. Cost of assay services revenue also includes royalty fees that the Company owes to third parties related to assay services. Cost of Product Revenue Cost of product revenue consists primarily of raw materials and production costs, salaries and other personnel costs, overhead and other direct costs related to product revenue. Cost of product revenue is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product revenue in the consolidated statements of operations and comprehensive loss. Cost of product revenue also includes royalty fees that the Company owes to third parties related to the sale of products. Research and Development Research and development expenses, consisting primarily of salaries and benefits, laboratory supplies, clinical study costs, consulting fees and related costs, are expensed as incurred. Selling, General and Administrative Selling expenses consist primarily of personnel and marketing related costs and are expensed as the related costs are incurred. Advertising costs totaled approximately $0.7 million and $0.2 million during the years ended December 31, 2021 and 2020, respectively. General and administrative expenses consist primarily of personnel costs for the Company’s finance, human resources, business development and general management, as well as professional services, such as legal and accounting services. General and administrative expenses are expensed as incurred. Income Taxes The provision for income taxes is included in interest income and other, net in the consolidated statements of operations and comprehensive loss. Deferred income tax assets and liabilities are recognized for tax consequences in future years attributable to differences between the tax bases of assets and liabilities and their respective financial reporting amounts, based on enacted tax laws and statutory tax rates applicable to the periods in which these temporary differences are expected to reverse. The Company evaluates the need to establish or release a valuation allowance based upon expected levels of taxable income, future reversals of existing temporary differences, tax planning strategies, and recent financial operations. Valuation allowances are established to reduce deferred tax assets to the amount expected to be more likely than not realized in the future. The effect of income tax positions is recognized only when it is more likely than not to be sustained. Interest and penalties associated with uncertain tax positions are recorded in interest income and other, net in the consolidated statements of operations and comprehensive loss. We made an accounting policy election to treat the tax effects of the global intangible low-taxed income as a component of interest income and other, net in the period incurred. Stock-Based Compensation The Company incurs stock-based compensation expense related to its stock options, and we recognize stock-based employee compensation, net of an estimated forfeiture rate, over the employee’s requisite service period, which is generally the vesting period, on a straight-line basis. The Company utilizes the Black-Scholes valuation model for estimating the fair value of stock options granted. The fair value of each option is estimated on the date of grant. Set forth below are the assumptions used in valuing the stock options granted and a discussion of the Company’s methodology for developing each of the assumptions used: • Expected dividend yield — The Company did not pay regular dividends on its common stock and does not anticipate paying any dividends in the foreseeable future. Therefore, the Company used an expected dividend yield of zero in the option valuation model. • Expected volatility — Volatility is a measure of the amount by which a financial variable, such as share price, has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. The Company analyzes the volatility used by similar public companies at a similar stage of development to estimate expected volatility. The comparable companies are chosen based on their similar size, stage in the life cycle or area of specialty. • Risk-free interest rate — We use a range of United States Treasury rates with a term that most closely resembles the expected life of the option as of the date of which

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 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 December 31, 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. Summary of Net Proceeds

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table provides information about disaggregated revenue by product line: Year Ended December 31, (in thousands) 2021 2020 Assay services revenue $ 68,038 $ 45,827 Product revenue 1,277 1,907 Collaboration revenue 3,051 2,483 Other revenue: Royalties 8,515 5,261 Other 745 411 Total other revenue 9,260 5,672 Total revenue $ 81,626 $ 55,889 Contract Balances and Remaining Performance Obligations Contract liabilities represent the Company’s obligation to transfer goods or services to customers from which we have received consideration. Deferred revenue is classified as current if the Company expects to be able to recognize the deferred amount as revenue within 12 months of the balance sheet date. Deferred revenue is recognized as or when the Company satisfies its performance obligations under the contract. A summary of the change in contract liabilities is as follows: December 31, (in thousands) 2021 2020 Balance at beginning of period $ 5,177 $ 5,469 Recognition of revenue included in balance at beginning of period (1,762) (1,003) Revenue deferred during the period, net of revenue recognized 1,970 711 Balance at end of period $ 5,385 $ 5,177 At December 31, 2021 and 2020, deferred revenue of $5.4 million and $5.2 million, respectively, was comprised of balances related to our collaboration revenue, assay services, and other revenue. At December 31, 2021 and 2020, the portion of deferred revenue related to collaboration revenue was $3.9 million and $5.0 million, respectively, which is recognized on a straight-line basis over the performance period. As of December 31, 2021, the estimated remaining

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 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 December 31, 2021 (in thousands) Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Aggregate Fair Value Fair Value Level Cash and cash equivalents: Cash $ 114,533 $ — $ — $ 114,533 Level 1 Money market funds 324,955 — — 324,955 Level 1 Total cash and cash equivalents 439,488 — — 439,488 Investments: Commercial paper 177,852 16 (57) 177,811 Level 2 U.S. Treasuries 12,021 — (9) 12,012 Level 2 Asset-backed securities 12,084 — (8) 12,076 Level 2 Corporate bonds 16,332 — (13) 16,319 Level 2 Total investments 218,289 16 (87) 218,218 Total assets measured at fair value on a recurring basis $ 657,777 $ 16 $ (87) $ 657,706 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 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 December 31, 2021 and 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 December 31, 2021 and 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) December 31, 2021 December 31, 2020 Fair Value Level Liabilities: Warrant liability - Public Warrants $ 18,437 $ — Level 1 Warrant liability - Private Placement Warrants 16,744 — Level 2 Earn-out liability 26,885 — Level 3 Compound derivative liability — 425 Level 3 Total liabilities measured at fair value on a recurring basis $ 62,066 $ 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. 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 December 31, 2021 are as follows: December 31, 2021 Stock price on valuation date $ 11.64 Volatility 85.60 % Risk-free rate 0.34 % Dividend yield — % The change in the fair value of the earn-out liability for the year ended December 31, 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 1,869 Balance as of December 31, 2021 $ 26,885 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 consolidated balance sheets. The compound derivative liability was measured at December 31, 2020 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 consolidated statements 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 $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	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory was comprised of the following: December 31, (in thousands) 2021 2020 Raw materials $ 15,205 $ 12,883 Finished goods 93 161 Total inventory $ 15,298 $ 13,044 Inventory (current) $ 11,213 $ 7,020 Non-current inventory $ 4,085 $ 6,024

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment was comprised of the following: December 31, (in thousands) 2021 2020 Lab equipment $ 10,504 $ 9,865 Computer equipment 1,416 1,402 Furniture and fixtures 951 947 Software 4,866 2,657 Leasehold improvements 2,275 3,539 Construction in progress 4,789 81 Total property and equipment, at cost 24,801 18,491 Less: Accumulated depreciation and amortization (15,244) (14,578) Property and equipment, net $ 9,557 $ 3,913 Depreciation expense was $1.8 million and $2.3 million for the years ended December 31, 2021 and 2020, respectively. Amortization expense related to internal use software was $0.8 million and $0.5 million for the years ended December 31, 2021 and 2020, respectively. The unamortized internal use software costs as of December 31, 2021 and 2020 was $2.4 million and $1.0 million, respectively.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following: December 31, (in thousands) 2021 2020 Accrued compensation $ 9,832 $ 5,378 Accrued charitable contributions 400 400 Accrued medical claims 398 307 Other 479 225 Total accrued liabilities $ 11,109 $ 6,310

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 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 year ended December 31, 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. The related laboratory lease term expired in December 2021. 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 December 31, 2021 and 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. In December 2021, we entered into a lease for administrative offices which will expire on December 31, 2023. On February 10, 2022, the Company entered into two separate lease agreements to lease two buildings pending construction. Both leases will expire on November 30, 2033, unless extended by the parties or earlier terminated in accordance with the terms of the lease. The Company's obligation to pay rent for each building will begin approximately six months following the applicable commencement date of each lease. The annual base rent for each lease is approximately $1.3 million per year in the aggregate. Each lease is subject to annual increases of approximately 3% per annum and other adjustments, up to approximately $1.8 million per year in the aggregate in the final year of the term. Both leases include tenant improvement allowances in the amount of approximately $3.5 million per lease. The Company has the right to extend the term of each of the leases for three periods of sixty months each beginning immediately following the end of the then-current term. Rent expense for the years ended December 31, 2021 and 2020 for operating leases was $1.8 million and $1.9 million, respectively. As of December 31, 2021, we have future commitments resulting from these operating lease arrangements totaling $5.5 million, which consisted of the following: (in thousands) December 31, 2021 2022 $ 1,850 2023 1,905 2024 810 2025 834 2026 143 Total future minimum lease payments $ 5,542 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 consolidated statements of stockholders’ equity 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	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following: December 31, (in thousands) 2021 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 years ended December 31, 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 consolidated statements of operations and comprehensive loss during the year ended December 31, 2021 as a result of the conversion. Since the Convertible Debt was settled in full, there is no outstanding balance as of December 31, 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 consolidated statements of stockholders’ equity 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 years ended December 31, 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 consolidated statements of operations and comprehensive loss during the year ended December 31, 2021. As the PPP loan was forgiven, there is no outstanding balance as of December 31, 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 consolidated statements of stockholders’ equity 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. We accounted for this amendment as a modification to the Amended and Restated Credit Agreement as it was determined that no substantial change occurred. We elected to write down a proportionate amount of debt issuance costs and premium related to the prepayment. As a result, we recognized $0.6 million in loss on extinguishment of debt, net in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2020. 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 consolidated statements of stockholders’ equity 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 consolidated statements of operations and comprehensive loss during the year ended December 31, 2021. The Company incurred $1.3 million and $5.8 million of interest expense for the years ended December 31, 2021 and 2020, respectively, under the Amended and Restated Credit Agreement. The interest expense includes noncash amortization of the debt issuance costs of approximately $0.3 million and $2.0 million for the years ended December 31, 2021 and 2020, respectively, and is net of amortization of premium of $0.1 million and $0.5 million for the years ended

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	12 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred StockIn November and December 2020, Old SomaLogic issued and sold 17,842,914 shares and 13,643,059 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 50,000,000 shares of redeemable convertible preferred stock authorized, 31,485,973 shares of redeemable convertible preferred stock issued and outstanding and a liquidation preference of $213.5 million. 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. The aggregate 31,485,973 shares of redeemable preferred stock issued and sold are presented in the consolidated statements of stockholders’ equity as 52,776,787 shares of Common Stock as a result of the reverse recapitalization. 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. There are no shares of redeemable convertible preferred stock authorized, issued or outstanding as of December 31, 2021.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 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 December 31, 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 business days before the Company sends to the notice of redemption to the warrant holders. 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 trading days before the Company sends the notice of redemption to the warrant holders; and • if the closing price of the Common Stock for any 20 trading days within a 30-trading day period ending three trading days before the Company sends notice of redemption to the warrant holders is less than $18.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above. 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).

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation We maintained three equity incentive plans – the 2009 Equity Incentive Plan (the “2009 Plan”), the 2017 Equity Incentive Plan (the “2017 Plan”), and the 2021 Equity Incentive Plan (the “2021 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 “2021 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 2021 Plan became effective upon the closing of the Business Combination. Under the 2021 Plan, as of December 31, 2021, we were authorized to issue a maximum of 21,300,000 shares of Common Stock. As of December 31, 2021, 2,944,448 awards have been granted under the 2021 Plan. As of December 31, 2021, we have reserved 38,496,936 shares of Common Stock for issuance under all incentive plans. Stock-based compensation was recorded in the consolidated statements of operations and comprehensive loss as shown in the following table: Year Ended December 31, (in thousands) 2021 2020 Cost of assay services revenue $ 633 $ 413 Cost of product revenue 14 14 Research and development 10,958 4,173 Selling, general and administrative 16,810 10,572 Total stock-based compensation $ 28,415 $ 15,172 Stock Options Awards At December 31, 2021, there were 14,443,767 options outstanding within the 2009 Plan, the 2017 Plan, and the 2021 Plan and 5,259,078 options outstanding that were granted outside of the incentive plans. 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 year ended December 31, 2021: (in thousands, except share and per share data) Number of Weighted Weighted Aggregate Outstanding as of December 31, 2020 11,350,934 $ 3.92 Granted 10,271,113 $ 7.49 Exercised (1,311,307) $ 3.05 Forfeited (453,551) $ 4.54 Expired (154,344) $ 2.26 Outstanding as of December 31, 2021 19,702,845 $ 5.83 8.31 $ 115,314 Exercisable as of December 31, 2021 7,554,433 $ 3.88 6.77 $ 58,655 Vested and expected to vest as of December 31, 2021 17,144,896 $ 5.67 8.17 $ 103,148 The assumptions used in valuing the stock options granted are set forth in the following table: Year Ended December 31, 2021 2020 Expected dividend yield — % — % Expected volatility 71.4 – 92.8% 83.5 – 92.0% Risk-free interest rate 0.64 – 1.38% 0.32 – 0.54% Expected weighted-average life of options 6.04 years 5.95 years The total intrinsic value of options exercised during the years ended December 31, 2021 and 2020 was approximately $4.7 million and $0.4 million, respectively. The weighted-average grant date fair value for options granted during the years ended December 31, 2021 and 2020 was $4.78 and $1.69, respectively. Based on options granted to employees as of December 31, 2021, total compensation expense not yet recognized related to unvested options is approximately $40.2 million, which is expected to be recognized over a weighted average period of 2.97 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 during the year ended December 31, 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 consolidated statements of operations and comprehensive loss for the year ended December 31, 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. These shares are presented in the consolidated statements of stockholders’ equity as 12,342 shares of Common Stock as a result of the reverse recapitalization. In December 2021, we issued additional 53,120 shares of Common Stock related to the Consulting Milestone Agreement. We recognized approximately $0.8 million of stock-based compensation expense during the year ended December 31, 2021. As of December 31, 2021, the remaining commitment of $0.04 million is recorded in other long-term liabilities. 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 December 31, 2021, 1,444,484 Service Provider Earn-Outs were outstanding after forfeitures. Upon forfeiture, the forfeited shares will be redistributed to the Old SomaLogic stockholders. The weighted average grant date fair value of the Service Provider Earn-Outs was $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 8.3%. The Company recorded $2.9 million in stock-based compensation expense related to the Service Provider Earn-Outs during the year ended December 31, 2021, and $6.7 million is expected to be recorded over the remaining estimated service period .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of the Company’s provision for income taxes are as follows: Year Ended December 31, (in thousands) 2021 2020 Current income tax expense (benefit) Federal $ 17 $ 3 State 21 20 38 23 Deferred tax expense (benefit) Federal — — State — — — — Provision for income taxes $ 38 $ 23 A reconciliation of the income tax benefit calculated at the federal statutory rate to the total income tax provision is as follows: Year Ended December 31, (in thousands) 2021 2020 Income tax benefit at the federal statutory rate $ (18,404) $ (11,128) State income taxes, net of federal income tax benefit (3,008) (3,003) Nondeductible stock-based compensation 1,049 1,094 Expiration of net operating loss and research and development credits 3,244 1,056 Term loan amendment — 19 Change in valuation allowance 15,092 14,446 Other permanent items 1,311 4 Research and development credits (1,110) (1,110) Return to provision adjustments 855 (993) Other, net 1,009 (362) Provision for income taxes $ 38 $ 23 The components of the deferred income tax assets and liabilities is as follows: December 31, (in thousands) 2021 2020 Deferred income tax assets: Net operating loss carryforwards $ 98,032 $ 84,358 Research and development credits 11,264 10,590 Depreciation and amortization 598 539 Deferred revenue 1,344 1,389 Accrued expenses and non-deductible reserves 200 761 Compensation accruals 1,796 1,076 Stock-based compensation 11,952 8,731 Interest expense carryforward 6,628 3,242 Loan discount and issuance costs — 2,333 Other 1,139 291 132,953 113,310 Valuation allowance (132,953) (113,310) Deferred income taxes, net of valuation allowance — — Deferred income tax liabilities — — Net deferred income tax assets (liabilities) $ — $ — As of December 31, 2021, and 2020, a full valuation allowance of $133.0 million and $113.3 million was established against the Company’s deferred tax assets as the Company believes it is more likely than not these tax attributes would not be realizable in the future. The valuation allowance increased by $19.7 million for the year ended December 31, 2021. The Company evaluates the need to establish a valuation allowance by considering all available positive and negative evidence, including expected levels of taxable income, future reversals of existing temporary differences, tax planning strategies, and recent financial operations. The Company establishes a valuation allowance to reduce deferred tax assets to the extent it is more likely than not that some, or all, of the deferred tax assets will not be realized. The Company determined it is more likely than not that all of its deferred tax assets would not be realized. The Company will continue to monitor its available positive and negative evidence in assessing the realization of its deferred tax assets in the future, and should there be a need to release the valuation allowance, a tax benefit will be recorded. As of December 31, 2021, and 2020, the Company had federal net operating losses (“NOLs”) of $385.5 million and $328.6 million, respectively. Of the aggregate federal NOLs at December 31, 2021, $179.9 million can be carried forward indefinitely, and the remaining $205.5 million will begin to expire in 2022. As of December 31, 2021, and 2020, the Company had state NOLs of $359.9 million and $340.3 million, respectively, which begin to expire in 2022. As of December 31, 2021, and 2020, the Company had research and development credit carryforward of $12.5 million and $11.8 million, respectively, which begin to expire in 2022. Our U.S. deferred tax assets are also subject to annual limitation under Section 382 of the Internal Revenue Code of 1986 due to stock ownership changes that have occurred, primarily as a result of the business combination completed on September 1, 2021. Based on an analysis completed during 2021, we have concluded that all of our historical U.S. deferred tax assets generated through December 31, 2020 are available to us for future use to offset taxable income. We may experience ownership changes in the future as a result of shifts in our stock ownership (some of which may be outside our control). Therefore, available U.S. deferred tax assets may be further limited in the event of another significant ownership change. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions with varying statutes of limitations. As of December 31, 2021, the Company is not under examination in any jurisdiction and the tax years 2017 through 2020 remain open to examination in its federal and state jurisdictions. The Company believes no significant changes in the unrecognized tax benefits will occur within the next 12 months. A reconciliation of the unrecognized tax benefits is as follows: December 31, (in thousands) 2021 2020 Unrecognized tax benefit – beginning balance $ 1,176 $ 1,071 Increase related to tax positions taken in the current year 111 111 Increase related to tax positions taken in the prior year — — Decrease related to tax positions taken in the prior year (36) (6) Unrecognized tax benefit – ending balance $ 1,251 $ 1,176 The unrecognized tax benefits are classified as a reduction of deferred tax assets on the consolidated balance sheets. As of December 31, 2021, and 2020, there are $1.3 million and $1.2 million of unrecognized tax benefits that, if recognized, would favorably affect the Company’s effective tax rate, respectively. The Company did not recognize any interests or penalties in all periods presented or accrue any interests or penalties as of December 31, 2021, and 2020.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 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 contributions with immediate vesting. We made matching contributions of approximately $1.1 million and $0.8 million during the years ended December 31, 2021 and 2020, respectively.

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Parties	Related PartiesThe Company paid $0.2 million and $0.1 million of an unconditional contribution to a related party during the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, the remaining pledge of $0.4 million is recorded in accrued liabilities and is expected to be paid out within the next 12 months. 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. For the year ended December 31, 2021, the Company paid $0.9 million for these consulting services in addition to issuing Common Stock for an aggregate fair value of approximately $0.8 million for milestones achieved (see Note 13, Stock-based Compensation

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 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 (in thousands, except share and per share data): Year Ended December 31, (in thousands, except share and per share data) 2021 2020 Net loss $ (87,547) $ (53,015) Weighted-average shares outstanding, basic and diluted 137,157,283 65,161,358 Net loss per share, basic and diluted $ (0.64) $ (0.81) During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all awards is anti-dilutive. 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: Year Ended December 31, 2021 2020 Anti-dilutive shares: Stock options to purchase common stock 19,702,845 11,350,934 Public Warrants and Private Placement Warrants 10,533,324 — Convertible debt (on an if-converted basis) — 450,591 Total anti-dilutive shares 30,236,169 11,801,525 The calculation of diluted net loss per share does not consider the effect of contingently issuable shares that are contingent on the occurrence of a future event that has not yet occurred. As of December 31, 2021, the contingency for the Earn-Out Shares had not been met and therefore the Earn-Out Shares were not considered in the computation of diluted net loss per share.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In February 2022 we entered into two lease agreements for commercial buildings to be constructed in Louisville, Colorado. See Note 9, Commitments and Contingencies .

Correction of Error in Previous

Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited)	12 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited)	Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited) In connection with our year-end financial close process and related preparation of our 2021 Annual Report on Form 10-K, a misstatement of net loss per share was identified in our previously filed 2021 unaudited interim financial statements for the quarter and year-to-date periods ended September 30, 2021. We assessed the materiality of this error in accordance with the U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 99, Materiality, and have concluded that our interim financial information as filed in the Quarterly Report on Form 10-Q for the quarter and year-to-date period ended September 30, 2021 should be restated. The misstatement related to the calculation of the weighted average shares outstanding. The weighted average shares outstanding was inconsistent with the presentation of outstanding common stock in the consolidated balance sheets and statements of stockholders’ equity, which reflected the recapitalization of common stock based on the Exchange Ratio retrospectively to the earliest period presented . There was no impact to our condensed consolidated balance sheets, condensed consolidated statements of stockholders' equity (deficit), condensed consolidated statements of cash flows and the condensed consolidated statements of operations and comprehensive loss, the only exception being net loss per share and weighted average shares outstanding. The effects of this error on our previously reported 2021 condensed consolidated statements of operations and comprehensive loss on a quarter-to-date and year-to-date basis are as follows: Three Months Ended September 30, 2021 (in thousands, except share and per share amounts) Originally Reported Adjustment As Restated Revenue Assay services revenue $ 17,499 $ — $ 17,499 Product revenue 75 — 75 Collaboration revenue 763 — 763 Other revenue 1,655 — 1,655 Total revenue 19,992 — 19,992 Operating expenses Cost of assay services revenue 8,737 — 8,737 Cost of product revenue 33 — 33 Research and development 15,596 — 15,596 Selling, general and administrative 20,632 — 20,632 Total operating expenses 44,998 — 44,998 Loss from operations (25,006) — (25,006) Other (expense) income Interest income and other, net 55 — 55 Interest expense (2) — (2) Change in fair value of warrant liabilities (8,111) — (8,111) Change in fair value of earn-out liability (5,662) — (5,662) Loss on extinguishment of debt, net (2,693) — (2,693) Total other expense (16,413) — (16,413) Net loss $ (41,419) $ — $ (41,419) Other comprehensive loss Net unrealized loss on available-for-sale securities (15) — (15) Foreign currency translation loss (4) — (4) Total other comprehensive loss (19) — (19) Comprehensive loss $ (41,438) $ — $ (41,438) Net loss per share, basic and diluted $ (0.55) $ 0.25 $ (0.30) Weighted average shares used in computing net loss per share, basic and diluted 75,684,521 61,491,707 137,176,228 Nine Months Ended September 30, 2021 (in thousands, except share and per share amounts) Originally Reported Adjustment As Restated Revenue Assay services revenue $ 48,308 $ — $ 48,308 Product revenue 730 — 730 Collaboration revenue 2,288 — 2,288 Other revenue 7,306 — 7,306 Total revenue 58,632 — 58,632 Operating expenses Cost of assay services revenue 22,548 — 22,548 Cost of product revenue 452 — 452 Research and development 32,304 — 32,304 Selling, general and administrative 48,274 — 48,274 Total operating expenses 103,578 — 103,578 Loss from operations (44,946) — (44,946) Other (expense) income Interest income and other, net 126 — 126 Interest expense (1,324) — (1,324) Change in fair value of warrant liabilities (8,111) — (8,111) Change in fair value of earn-out liability (5,662) — (5,662) Loss on extinguishment of debt, net (4,323) — (4,323) Total other expense (19,294) — (19,294) Net loss $ (64,240) $ — $ (64,240) Other comprehensive loss Net unrealized loss on available-for-sale securities (7) — (7) Foreign currency translation loss (3) — (3) Total other comprehensive loss (10) — (10) Comprehensive loss $ (64,250) $ — $ (64,250) Net loss per share, basic and diluted $ (1.01) $ 0.48 $ (0.53) Weighted average shares used in computing net loss per share, basic and diluted 63,752,006 58,516,437 122,268,443

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated 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 consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for 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”). 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. Certain reclassifications have been made to prior period amounts to conform to the current presentation. Correction of Error in Previously Reported 2021 Interim Consolidated Financial Statements In connection with our year-end financial close process and related preparation of our 2021 Annual Report on Form 10-K, a misstatement of net loss per share was identified in our previously filed 2021 unaudited interim consolidated financial statements for the quarter and year-to date periods ended September 30, 2021 related to the calculation of the weighted average shares outstanding used as the denominator to calculate net loss per share in the condensed consolidated statements of operations and comprehensive loss. The weighted average shares outstanding was inconsistent with the presentation of outstanding common stock in the consolidated balance sheets and statements of stockholders’ equity, which reflected the recapitalization of common stock based on the Exchange Ratio retrospectively to the earliest period presented. For further information, see Note 19, Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited) .
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.
Foreign Currency Translation	Foreign Currency Translation The functional currency of the Company’s foreign subsidiary is the British pound sterling. In preparing its consolidated financial statements, the Company is required to translate the financial statements of this subsidiary from British pounds sterling to U.S. dollars. Accordingly, the assets and liabilities of the Company’s subsidiary are translated into U.S. dollars at current exchange rates and the results of operations are translated at the average exchange rates for the period. Since the Company’s functional currency is deemed to be the local currency, any gain or loss associated with the translation of its consolidated financial statements is included in other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. Net foreign currency transaction gains (losses) were not significant for the years ended December 31, 2021 and 2020.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents Cash and cash equivalents consist of cash deposits and short-term, highly liquid investments that are readily convertible into cash, with original maturities of three months or less. Cash equivalents consist primarily of amounts invested in money market funds and commercial paper and are stated at fair value. Restricted Cash Restricted cash represents cash on deposit with a financial institution as security for a letter of credit outstanding for the benefit of the landlord related to an operating lease for one of the Company’s laboratory facilities. The restricted cash is classified as a long-term asset on the consolidated balance sheets based on the term of the underlying lease.
Investments	Investments The Company has designated all investments, which consist of U.S. Treasury securities, asset-backed securities, commercial paper, and corporate bonds, as available-for-sale securities. Available-for-sale securities are reported at fair value on the consolidated balance sheets, with unrealized gains and losses excluded from earnings and reported as a component of other comprehensive (loss) income. Realized gains and losses, amortization of premiums and discounts, and interest and dividends earned on available-for-sale securities are included in interest income and other in the consolidated statements of operations and comprehensive loss. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. The Company determines the appropriate classification of its debt securities at the time of purchase based on their maturities and re-evaluates such classification at each balance sheet date. A decline in the fair value of a security below its cost that is deemed to be other-than-temporary is recorded as interest income and other, net and results in the establishment of a new basis for the security. Factors evaluated to determine if an investment is other-than-temporarily impaired include significant deterioration in earnings performance, credit rating, asset quality or business prospects of the issuer; adverse changes in the general market conditions in which the issuer operates; the Company’s intent to sell the security, and whether or not the Company will be required to sell the security before the recovery of its amortized cost.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, or the exit price, in the principal or most advantageous market for that asset or liability to be transferred in an orderly transaction between market participants on the measurement date. ASC 820, Fair Value Measurements , establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The hierarchy defines three levels of inputs that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument categorization within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Our financial instruments consist of Level 1, Level 2, and Level 3 assets and liabilities. The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities, approximate fair value due to their relatively short-term maturities.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful AccountsAccounts receivable are stated at the amount management expects to collect from customers based on their outstanding invoices. We review accounts receivable regularly to determine if any receivable may not be collectible. Management estimates the amount of the allowance for doubtful accounts necessary to reduce accounts receivable to its estimated net realizable value by analyzing the status of significant past due receivables and current and historical bad debt trends. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and ceases collection efforts.
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 consolidated balance sheets.
Property and Equipment	Property and Equipment Property and equipment is stated at cost, less accumulated depreciation and amortization. Additions and improvements that extend the lives of the assets are capitalized, while expenditures for repairs and maintenance are expensed as incurred. Depreciation for property and equipment is recorded on a straight-line basis over the estimated useful lives of the assets, which we estimate to be: lab equipment, 1 to 5 years; computer equipment, 3 years; furniture and fixtures, 4 years; and software, the shorter of 5 years or its useful life. Leasehold improvements are amortized over the shorter of the life of the lease term or the estimated useful life of the assets. The Company capitalizes certain internal and external costs related to the acquisition and development of internal use software during the application development stages of projects. When the software is ready for its intended use, the Company amortizes these costs using the straight-line method over the estimated useful life of the asset. Costs incurred during the preliminary project or the post-implementation/operation stages of the project are expensed as incurred. Costs for capital assets not yet placed into service are capitalized as construction in progress and depreciated once placed into service. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is included in loss from operations.
Impairment of Long-Lived Assets	Impairment of Long-Lived AssetsThe Company evaluates a long-lived asset (or asset group) for impairment whenever events or changes in circumstances indicate that the carrying value of the asset (or asset group) may not be recoverable. If indicators of impairment exist and the undiscounted future cash flows that the asset is expected to generate are less than the carrying value of the asset, an impairment loss is recorded to write down the asset to its estimated fair value based on a discounted cash flow approach.
Leases	Leases Leases are reviewed and classified as capital or operating at their inception in accordance with ASC 840, Leases . The Company enters into lease agreements for its administrative and laboratory facilities, which are classified as operating leases. The Company records rent expense on a straight-line basis over the term of the lease, which includes the lease extension periods, if appropriate. The difference between rent payments and straight-line rent expense is recorded as deferred rent in current or other long-term liabilities, as appropriate. Lease agreements may include tenant improvement allowances from landlords. The Company recognizes these allowances as leasehold incentive obligations in deferred rent and amortizes them on a straight-line basis over the lease term as a reduction to rent expense. Leasehold improvements are capitalized and included in property and equipment on the consolidated balance sheets.
Warrant Liabilities	We classify the Warrants as liabilities on our consolidated balance sheets 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 subsequent changes in fair value recognized within change in fair value of earn-out liability in the 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 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 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 JDCA, to develop and commercialize SomaScan ® services in Japan, as described in the section entitled “Collaboration Agreements” above. 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 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 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 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. 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 consolidated statements of operations and comprehensive loss. Cost of Assay Services Revenue Cost of assay services revenue consists of raw materials and production costs, salaries and other personnel costs, overhead and other direct costs related to assay services revenue. It also includes provisions for excess or obsolete inventory and costs for production variances, such as yield losses, material usages, spending and capacity variances. Cost of assay services revenue also includes royalty fees that the Company owes to third parties related to assay services. Cost of Product Revenue Cost of product revenue consists primarily of raw materials and production costs, salaries and other personnel costs, overhead and other direct costs related to product revenue. Cost of product revenue is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product revenue in the consolidated statements of operations and comprehensive loss. Cost of product revenue also includes royalty fees that the Company owes to third parties related to the sale of products.
Research and Development	Research and Development Research and development expenses, consisting primarily of salaries and benefits, laboratory supplies, clinical study costs, consulting fees and related costs, are expensed as incurred.
Selling, General and Administrative	Selling, General and Administrative Selling expenses consist primarily of personnel and marketing related costs and are expensed as the related costs are incurred. Advertising costs totaled approximately $0.7 million and $0.2 million during the years ended December 31, 2021 and 2020, respectively.
Income Taxes	Income Taxes The provision for income taxes is included in interest income and other, net in the consolidated statements of operations and comprehensive loss. Deferred income tax assets and liabilities are recognized for tax consequences in future years attributable to differences between the tax bases of assets and liabilities and their respective financial reporting amounts, based on enacted tax laws and statutory tax rates applicable to the periods in which these temporary differences are expected to reverse. The Company evaluates the need to establish or release a valuation allowance based upon expected levels of taxable income, future reversals of existing temporary differences, tax planning strategies, and recent financial operations. Valuation allowances are established to reduce deferred tax assets to the amount expected to be more likely than not realized in the future. The effect of income tax positions is recognized only when it is more likely than not to be sustained. Interest and penalties associated with uncertain tax positions are recorded in interest income and other, net in the consolidated statements of operations and comprehensive loss. We made an accounting policy election to treat the tax effects of the global intangible low-taxed income as a component of interest income and other, net in the period incurred.
Stock-Based Compensation	Stock-Based Compensation The Company incurs stock-based compensation expense related to its stock options, and we recognize stock-based employee compensation, net of an estimated forfeiture rate, over the employee’s requisite service period, which is generally the vesting period, on a straight-line basis. The Company utilizes the Black-Scholes valuation model for estimating the fair value of stock options granted. The fair value of each option is estimated on the date of grant. Set forth below are the assumptions used in valuing the stock options granted and a discussion of the Company’s methodology for developing each of the assumptions used: • Expected dividend yield — The Company did not pay regular dividends on its common stock and does not anticipate paying any dividends in the foreseeable future. Therefore, the Company used an expected dividend yield of zero in the option valuation model. • Expected volatility — Volatility is a measure of the amount by which a financial variable, such as share price, has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. The Company analyzes the volatility used by similar public companies at a similar stage of development to estimate expected volatility. The comparable companies are chosen based on their similar size, stage in the life cycle or area of specialty. • Risk-free interest rate — We use a range of United States Treasury rates with a term that most closely resembles the expected life of the option as of the date of which the option was granted. • Expected average life of options — The expected life assumption is the expected time to exercise. The Company uses a simplified method to develop this assumption, which uses the average of the vesting period and the contractual terms. Fair Value of Common Stock The grant date fair value of the shares of common stock underlying stock options had historically been determined by the Company’s Board of Directors with assistance of third-party valuation specialists prior to the Business Combination. Because there was no public market for the Company’s common stock, the Board of Directors exercised reasonable judgment and considered a number of objective and subjective factors, combined with management’s judgments, to determine the best estimate of the fair value, which include financial condition and actual operating results; the progress of the Company’s research and development efforts; its stage of development; business strategy; the rights, preferences and privileges of the Company’s redeemable convertible preferred stock relative to those of the Company’s common stock; the prices at which the Company sold shares of its redeemable convertible preferred stock; equity market conditions of comparable public companies; general U.S. market conditions; and the lack of marketability of our common stock. Following the Business Combination, the grant date fair values of these awards are determined based on the closing price of the Company’s common stock on the date of the grant.
Comprehensive Loss	Comprehensive Loss Comprehensive loss is comprised of net loss and other comprehensive loss. Other comprehensive loss refers to gains and losses that are recorded as an element of stockholders’ equity but excluded from net loss. Our other comprehensive loss consists of foreign currency translation adjustments and net unrealized gain or losses on investments in available-for-sale securities.
Net Loss Per Share	Net Loss Per Shar e
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 use 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. Accounting Standards Not Yet Adopted Leases. 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. The amended standard is effective for the Company on January 1, 2022. The Company will adopt ASU 2016-02, as amended, using a modified retrospective approach as permitted under ASU 2018-11, which allows the Company to apply the legacy lease guidance and disclosure requirements in the comparative periods presented prior to the year of adoption. No cumulative-effect adjustment to retained earnings is expected to be recognized upon adoption of ASU 2016-02. As part of the adoption, the Company will elect the short-term lease recognition policy election for all leases with a term of 12 months or less, and as such, no right-of-use assets or lease liabilities will be recorded on the balance sheet for these leases. The Company also expects to elect the following practical expedients: • the package of transition practical expedients, permitting the Company to not reassess its prior conclusions about lease identification, lease classification and initial direct costs; and • the practical expedient to not separate lease and non-lease components. We are finalizing our implementation of ASU 2016-02, but expect the adoption will result in increases to long-term assets, current liabilities and long-term liabilities on its consolidated balance sheets, related to the recognition of right-of-use assets and lease liabilities, and will require additional disclosures of key information related to its leases in the footnotes to the consolidated financial statements. As part of our implementation procedures, we have identified long-term leases for certain asset classes, including corporate office space. As of December 31, 2021, the Company’s undiscounted obligations for operating leases in the Company’s future minimum lease table totaled approximately $5.5 million (see Note 9, Commitments and Contingencies , for additional information). Income Taxes. 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. ASU 2019-12 is effective for the Company on January 1, 2022. The Company is currently evaluating the impact this standard, however, the Company does not believe the adoption of ASU 2019-12 will have a material impact on its consolidated financial statements and related disclosures. Financial Instruments — Credit Losses . 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. ASU 2016-13, as amended, is effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 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 December 31, Year Ended December 31, 2021 2020 2021 2020 Customer A 10% 26% 21 % 30 % Customer B * 11% 13 % 26 % Customer C 20% 25% 10 % * Customer D 26% 16% * * * less than 10%
Schedule of Accounts Receivable	Accounts receivable consisted of the following: December 31, (in thousands) 2021 2020 Accounts receivable $ 17,146 $ 17,529 Less: allowance for doubtful accounts (72) (80) Accounts receivable, net $ 17,074 $ 17,449

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Dec. 31, 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)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table provides information about disaggregated revenue by product line: Year Ended December 31, (in thousands) 2021 2020 Assay services revenue $ 68,038 $ 45,827 Product revenue 1,277 1,907 Collaboration revenue 3,051 2,483 Other revenue: Royalties 8,515 5,261 Other 745 411 Total other revenue 9,260 5,672 Total revenue $ 81,626 $ 55,889
Summary of Change in Contract Liabilities	A summary of the change in contract liabilities is as follows: December 31, (in thousands) 2021 2020 Balance at beginning of period $ 5,177 $ 5,469 Recognition of revenue included in balance at beginning of period (1,762) (1,003) Revenue deferred during the period, net of revenue recognized 1,970 711 Balance at end of period $ 5,385 $ 5,177

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2021 (in thousands) Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Aggregate Fair Value Fair Value Level Cash and cash equivalents: Cash $ 114,533 $ — $ — $ 114,533 Level 1 Money market funds 324,955 — — 324,955 Level 1 Total cash and cash equivalents 439,488 — — 439,488 Investments: Commercial paper 177,852 16 (57) 177,811 Level 2 U.S. Treasuries 12,021 — (9) 12,012 Level 2 Asset-backed securities 12,084 — (8) 12,076 Level 2 Corporate bonds 16,332 — (13) 16,319 Level 2 Total investments 218,289 16 (87) 218,218 Total assets measured at fair value on a recurring basis $ 657,777 $ 16 $ (87) $ 657,706 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) December 31, 2021 December 31, 2020 Fair Value Level Liabilities: Warrant liability - Public Warrants $ 18,437 $ — Level 1 Warrant liability - Private Placement Warrants 16,744 — Level 2 Earn-out liability 26,885 — Level 3 Compound derivative liability — 425 Level 3 Total liabilities measured at fair value on a recurring basis $ 62,066 $ 425
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 December 31, 2021 are as follows: December 31, 2021 Stock price on valuation date $ 11.64 Volatility 85.60 % Risk-free rate 0.34 % Dividend yield — %
Schedule Fair Value of Liabilities, Unobservable Input Reconciliation	The change in the fair value of the earn-out liability for the year ended December 31, 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 1,869 Balance as of December 31, 2021 $ 26,885

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Current Inventory	Inventory was comprised of the following: December 31, (in thousands) 2021 2020 Raw materials $ 15,205 $ 12,883 Finished goods 93 161 Total inventory $ 15,298 $ 13,044 Inventory (current) $ 11,213 $ 7,020 Non-current inventory $ 4,085 $ 6,024
Schedule of Noncurrent Inventory	Inventory was comprised of the following: December 31, (in thousands) 2021 2020 Raw materials $ 15,205 $ 12,883 Finished goods 93 161 Total inventory $ 15,298 $ 13,044 Inventory (current) $ 11,213 $ 7,020 Non-current inventory $ 4,085 $ 6,024

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment was comprised of the following: December 31, (in thousands) 2021 2020 Lab equipment $ 10,504 $ 9,865 Computer equipment 1,416 1,402 Furniture and fixtures 951 947 Software 4,866 2,657 Leasehold improvements 2,275 3,539 Construction in progress 4,789 81 Total property and equipment, at cost 24,801 18,491 Less: Accumulated depreciation and amortization (15,244) (14,578) Property and equipment, net $ 9,557 $ 3,913

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consisted of the following: December 31, (in thousands) 2021 2020 Accrued compensation $ 9,832 $ 5,378 Accrued charitable contributions 400 400 Accrued medical claims 398 307 Other 479 225 Total accrued liabilities $ 11,109 $ 6,310

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2021, we have future commitments resulting from these operating lease arrangements totaling $5.5 million, which consisted of the following: (in thousands) December 31, 2021 2022 $ 1,850 2023 1,905 2024 810 2025 834 2026 143 Total future minimum lease payments $ 5,542

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: December 31, (in thousands) 2021 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)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation	Stock-based compensation was recorded in the consolidated statements of operations and comprehensive loss as shown in the following table: Year Ended December 31, (in thousands) 2021 2020 Cost of assay services revenue $ 633 $ 413 Cost of product revenue 14 14 Research and development 10,958 4,173 Selling, general and administrative 16,810 10,572 Total stock-based compensation $ 28,415 $ 15,172
Summary of Stock Option Activity	The following table shows a summary of all stock option activity for the year ended December 31, 2021: (in thousands, except share and per share data) Number of Weighted Weighted Aggregate Outstanding as of December 31, 2020 11,350,934 $ 3.92 Granted 10,271,113 $ 7.49 Exercised (1,311,307) $ 3.05 Forfeited (453,551) $ 4.54 Expired (154,344) $ 2.26 Outstanding as of December 31, 2021 19,702,845 $ 5.83 8.31 $ 115,314 Exercisable as of December 31, 2021 7,554,433 $ 3.88 6.77 $ 58,655 Vested and expected to vest as of December 31, 2021 17,144,896 $ 5.67 8.17 $ 103,148
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: Year Ended December 31, 2021 2020 Expected dividend yield — % — % Expected volatility 71.4 – 92.8% 83.5 – 92.0% Risk-free interest rate 0.64 – 1.38% 0.32 – 0.54% Expected weighted-average life of options 6.04 years 5.95 years

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of the Company’s provision for income taxes are as follows: Year Ended December 31, (in thousands) 2021 2020 Current income tax expense (benefit) Federal $ 17 $ 3 State 21 20 38 23 Deferred tax expense (benefit) Federal — — State — — — — Provision for income taxes $ 38 $ 23
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the income tax benefit calculated at the federal statutory rate to the total income tax provision is as follows: Year Ended December 31, (in thousands) 2021 2020 Income tax benefit at the federal statutory rate $ (18,404) $ (11,128) State income taxes, net of federal income tax benefit (3,008) (3,003) Nondeductible stock-based compensation 1,049 1,094 Expiration of net operating loss and research and development credits 3,244 1,056 Term loan amendment — 19 Change in valuation allowance 15,092 14,446 Other permanent items 1,311 4 Research and development credits (1,110) (1,110) Return to provision adjustments 855 (993) Other, net 1,009 (362) Provision for income taxes $ 38 $ 23
Schedule of Deferred Tax Assets and Liabilities	The components of the deferred income tax assets and liabilities is as follows: December 31, (in thousands) 2021 2020 Deferred income tax assets: Net operating loss carryforwards $ 98,032 $ 84,358 Research and development credits 11,264 10,590 Depreciation and amortization 598 539 Deferred revenue 1,344 1,389 Accrued expenses and non-deductible reserves 200 761 Compensation accruals 1,796 1,076 Stock-based compensation 11,952 8,731 Interest expense carryforward 6,628 3,242 Loan discount and issuance costs — 2,333 Other 1,139 291 132,953 113,310 Valuation allowance (132,953) (113,310) Deferred income taxes, net of valuation allowance — — Deferred income tax liabilities — — Net deferred income tax assets (liabilities) $ — $ —
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the unrecognized tax benefits is as follows: December 31, (in thousands) 2021 2020 Unrecognized tax benefit – beginning balance $ 1,176 $ 1,071 Increase related to tax positions taken in the current year 111 111 Increase related to tax positions taken in the prior year — — Decrease related to tax positions taken in the prior year (36) (6) Unrecognized tax benefit – ending balance $ 1,251 $ 1,176

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	: Year Ended December 31, (in thousands, except share and per share data) 2021 2020 Net loss $ (87,547) $ (53,015) Weighted-average shares outstanding, basic and diluted 137,157,283 65,161,358 Net loss per share, basic and diluted $ (0.64) $ (0.81)
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: Year Ended December 31, 2021 2020 Anti-dilutive shares: Stock options to purchase common stock 19,702,845 11,350,934 Public Warrants and Private Placement Warrants 10,533,324 — Convertible debt (on an if-converted basis) — 450,591 Total anti-dilutive shares 30,236,169 11,801,525

Correction of Error in Previo_2

Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The effects of this error on our previously reported 2021 condensed consolidated statements of operations and comprehensive loss on a quarter-to-date and year-to-date basis are as follows: Three Months Ended September 30, 2021 (in thousands, except share and per share amounts) Originally Reported Adjustment As Restated Revenue Assay services revenue $ 17,499 $ — $ 17,499 Product revenue 75 — 75 Collaboration revenue 763 — 763 Other revenue 1,655 — 1,655 Total revenue 19,992 — 19,992 Operating expenses Cost of assay services revenue 8,737 — 8,737 Cost of product revenue 33 — 33 Research and development 15,596 — 15,596 Selling, general and administrative 20,632 — 20,632 Total operating expenses 44,998 — 44,998 Loss from operations (25,006) — (25,006) Other (expense) income Interest income and other, net 55 — 55 Interest expense (2) — (2) Change in fair value of warrant liabilities (8,111) — (8,111) Change in fair value of earn-out liability (5,662) — (5,662) Loss on extinguishment of debt, net (2,693) — (2,693) Total other expense (16,413) — (16,413) Net loss $ (41,419) $ — $ (41,419) Other comprehensive loss Net unrealized loss on available-for-sale securities (15) — (15) Foreign currency translation loss (4) — (4) Total other comprehensive loss (19) — (19) Comprehensive loss $ (41,438) $ — $ (41,438) Net loss per share, basic and diluted $ (0.55) $ 0.25 $ (0.30) Weighted average shares used in computing net loss per share, basic and diluted 75,684,521 61,491,707 137,176,228 Nine Months Ended September 30, 2021 (in thousands, except share and per share amounts) Originally Reported Adjustment As Restated Revenue Assay services revenue $ 48,308 $ — $ 48,308 Product revenue 730 — 730 Collaboration revenue 2,288 — 2,288 Other revenue 7,306 — 7,306 Total revenue 58,632 — 58,632 Operating expenses Cost of assay services revenue 22,548 — 22,548 Cost of product revenue 452 — 452 Research and development 32,304 — 32,304 Selling, general and administrative 48,274 — 48,274 Total operating expenses 103,578 — 103,578 Loss from operations (44,946) — (44,946) Other (expense) income Interest income and other, net 126 — 126 Interest expense (1,324) — (1,324) Change in fair value of warrant liabilities (8,111) — (8,111) Change in fair value of earn-out liability (5,662) — (5,662) Loss on extinguishment of debt, net (4,323) — (4,323) Total other expense (19,294) — (19,294) Net loss $ (64,240) $ — $ (64,240) Other comprehensive loss Net unrealized loss on available-for-sale securities (7) — (7) Foreign currency translation loss (3) — (3) Total other comprehensive loss (10) — (10) Comprehensive loss $ (64,250) $ — $ (64,250) Net loss per share, basic and diluted $ (1.01) $ 0.48 $ (0.53) Weighted average shares used in computing net loss per share, basic and diluted 63,752,006 58,516,437 122,268,443

Description of Business (Detail

Description of Business (Details) - lease	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of early terminated leases	2
Revenue growth percentage	74.00%	46.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	Dec. 31, 2021USD ($)$ / shares	Mar. 31, 2020USD ($)	Jul. 31, 2011USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2021USD ($)segment$ / shares	Dec. 31, 2020USD ($)$ / shares	Sep. 01, 2021$ / shares	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
Impairment of long-lived assets						$ 0	$ 0
Collaboration revenue				$ 763,000	$ 2,288,000	3,051,000	2,483,000
Total other revenue				$ 1,655,000	$ 7,306,000	9,260,000	5,672,000
Advertising cost						$ 700,000	200,000
Expected dividend yield						0.00%
Number of operating segments | segment						1
Total future minimum lease payments	$ 5,542,000					$ 5,542,000
Class A Common Stock
Class of Stock [Line Items]
Exchange ratio	0.8381					0.8381		0.8381
Common stock, par value (in usd per share) | $ / shares	$ 0.0001					$ 0.0001
Royalties
Class of Stock [Line Items]
Total other revenue						$ 8,515,000	$ 5,261,000
NEC Corporation ("NEC") | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Class of Stock [Line Items]
Collaborative arrangements, upfront payments			$ 12,000,000
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		$ 2,000,000
Collaborative arrangement, payment terms		5 years
Collaborative arrangements, total payment amount		$ 10,000,000
Collaboration revenue		$ 15,300,000
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
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
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
Lab equipment | Minimum
Class of Stock [Line Items]
Property and equipment, useful life						1 year
Lab equipment | Maximum
Class of Stock [Line Items]
Property and equipment, useful life						5 years
Computer equipment
Class of Stock [Line Items]
Property and equipment, useful life						3 years
Furniture and fixtures
Class of Stock [Line Items]
Property and equipment, useful life						4 years
Software Development
Class of Stock [Line Items]
Property and equipment, useful life						5 years
Accounts Receivable | Geographic Concentration Risk | Non-US
Class of Stock [Line Items]
Concentration risk, percentage	18.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Concentration of Risk (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Customer A | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	26.00%
Customer A | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	21.00%	30.00%
Customer B | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage		11.00%
Customer B | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%	26.00%
Customer C | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	25.00%
Customer C | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Customer D | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	26.00%	16.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Accounts receivable	$ 17,146	$ 17,529
Less: allowance for doubtful accounts	(72)	(80)
Accounts receivable, net	$ 17,074	$ 17,449

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, 2021dtradingDay$ / sharesshares
Schedule of Reverse Recapitalization [Line Items]
Earn-out shares, stock price trigger (in usd per share) | $ / shares	$ 20
Earnout period, threshold trading days | d	20
Earnout period, threshold consecutive trading days | tradingDay	30
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]
Redemption of shares (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	Dec. 31, 2021shares
Schedule of Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares)	181,163,363						114,266,515	181,552,241
Common stock issued (in shares)	36,500,000
Convertible preferred stock, shares outstanding (in shares)	31,485,973						31,485,973	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	527,767.87
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
Class A Common Stock
Schedule of Reverse Recapitalization [Line Items]
Exchange ratio	0.8381							0.8381
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 (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 - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Collaboration revenue	$ 763	$ 2,288	$ 3,051	$ 2,483
Total other revenue	1,655	7,306	9,260	5,672
Total revenue	19,992	58,632	81,626	55,889
Assay services revenue
Disaggregation of Revenue [Line Items]
Revenue	17,499	48,308	68,038	45,827
Product revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 75	$ 730	1,277	1,907
Royalties
Disaggregation of Revenue [Line Items]
Total other revenue			8,515	5,261
Other
Disaggregation of Revenue [Line Items]
Total other revenue			$ 745	$ 411

Revenue - Change in Contract Li

Revenue - Change in Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 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	(1,762)	(1,003)
Revenue deferred during the period, net of revenue recognized	1,970	711
Balance at end of period	$ 5,385	$ 5,177

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 5,385	$ 5,177	$ 5,469
Deferred revenue related to collaboration	3,900	5,000
Service And Other Revenues
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 1,500	$ 200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance period	3 years 3 months 18 days

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	$ 439,488	$ 164,944
Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	439,488	164,944
Investments, amortized cost	218,289	39,956
Investments, gross unrealized gain	16	2
Investments, gross unrealized loss	(87)	(4)
Investments, aggregate fair value	218,218	39,954
Total assets measured at fair value on a recurring basis, amortized cost	657,777	204,900
Total assets measured at fair value on a recurring basis, aggregate fair value	657,706	204,898
Level 1 | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Cash	114,533	138,977
Money market funds	324,955	23,568
Level 2 | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Commercial paper		2,399
Level 2 | Commercial paper | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	177,852	33,863
Investments, gross unrealized gain	16	2
Investments, gross unrealized loss	(57)	(2)
Investments, aggregate fair value	177,811	33,863
Level 2 | U.S. Treasuries | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	12,021
Investments, gross unrealized gain	0
Investments, gross unrealized loss	(9)
Investments, aggregate fair value	12,012
Level 2 | Asset-backed securities | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	12,084
Investments, gross unrealized gain	0
Investments, gross unrealized loss	(8)
Investments, aggregate fair value	12,076
Level 2 | Corporate bonds | Fair Value, Recurring
Debt Securities, Available-for-sale [Line Items]
Investments, amortized cost	16,332	6,093
Investments, gross unrealized gain	0	0
Investments, gross unrealized loss	(13)	(2)
Investments, aggregate fair value	$ 16,319	$ 6,091

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liability	$ 26,885	$ 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	62,066	425
Level 1 | Fair Value, Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	18,437	0
Level 2 | Fair Value, Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	16,744	0
Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liability	26,885	0
Compound derivative liability	$ 0	$ 425

Fair Value Measurements - Earn-

Fair Value Measurements - Earn-out Liability, Inputs and Valuation Techniques (Details)	Dec. 31, 2021$ / shares
Stock price on valuation date
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	11.64
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	0.8560
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	0.0034
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liability, measurement input	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	Dec. 31, 2021	Sep. 01, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities, beginning balance		$ 26,885	$ 25,016
Change in fair value of liability	$ 1,869

Fair Value Measurements - Compo

Fair Value Measurements - Compound Derivative Liability (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)	Dec. 31, 2021USD ($)	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 3 | 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 3
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	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 15,205	$ 12,883
Finished goods	93	161
Total inventory	15,298	13,044
Inventory (current)	11,213	7,020
Non-current inventory	$ 4,085	$ 6,024

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 24,801	$ 18,491
Less: Accumulated depreciation and amortization	(15,244)	(14,578)
Property and equipment, net	9,557	3,913
Lab equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	10,504	9,865
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	1,416	1,402
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	951	947
Software
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	4,866	2,657
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	2,275	3,539
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 4,789	$ 81

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 1.8	$ 2.3
Internal use software, amortization	0.8	0.5
Unamortized internal use software costs	$ 2.4	$ 1

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued compensation	$ 9,832	$ 5,378
Accrued charitable contributions	400	400
Accrued medical claims	398	307
Other	479	225
Total accrued liabilities	$ 11,109	$ 6,310

Commitment and Contingencies -

Commitment and Contingencies - Operating Leases (Details) $ in Thousands	Feb. 10, 2022USD ($)leaseperiod	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Subsequent Event [Line Items]
Operating lease, termination fee			$ 300
Operating lease, restricted cash deposits		$ 800	300
Operating lease, rent expense		1,800	$ 1,900
Total future minimum lease payments		$ 5,542
Subsequent Event
Subsequent Event [Line Items]
Number of lease agreements | lease	2
Annual base rent	$ 1,300
Annual base rent, percentage increase per year	3.00%
Lease improvement allowances, per lease	$ 3,500
Number of extension options | period	3
Extension term	60 months
Subsequent Event | Maximum
Subsequent Event [Line Items]
Annual base rent	$ 1,800

Commitment and Contingencies -F

Commitment and Contingencies -Future Minimum Rental Payments For Operating Leases (Details) $ in Thousands	Dec. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 1,850
2023	1,905
2024	810
2025	834
2026	143
Total future minimum lease payments	$ 5,542

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)					13,643,059	17,842,914	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	527,767.87

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Dec. 31, 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, net of current portion	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

Dec. 31, 2021USD ($)

Sep. 30, 2021USD ($)

Sep. 30, 2021USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Jun. 30, 2017

Mar. 31, 2007USD ($)

Debt Instrument [Line Items]

Loss on extinguishment of debt, net

$ 2,693,000

$ 4,323,000

$ 4,323,000

$ 551,000

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

527,767.87

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 ($)	Dec. 31, 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 ($) $ / shares in Units, $ in Thousands	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	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 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	$ 202,116
Additional interest, premium									$ 708			0	708
Issuance of Common Stock for conversion of convertible debt												4,631	0
Loss on extinguishment of debt, net										$ 2,693	$ 4,323	4,323	551
Paid-in-kind interest												165	587
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
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		527,767.87
Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Proceeds from debt, net of issuance costs							$ 3,400	$ 35,000
Payments of issuance costs								$ 800
Additional debt recorded to PIK							1,600
Financing fees							$ 200
Interest rate				11.00%											12.00%
Interest rate, deferred option				2.00%											3.00%
Amendment fee															$ 2,500
Additional interest, premium														$ 1,400	$ 1,400
Issuance of Common Stock for conversion of convertible debt				$ 18,000
Payment of debt prepayment cost				10,000
Payment of debt prepayment cost, prepayment penalty fees			$ 4,000	2,500
Payment of debt prepayment cost, debt prepayment amendment fees				$ 5,500
Loss on extinguishment of debt, net												5,200	600
Debt outstanding			$ 33,300						$ 33,087			0	33,087
Interest expense (less than)												1,300	5,800
Noncash amortization of debt issuance costs												300	2,000
Amortization of premium												100	500
Paid-in-kind interest												$ 200	$ 600
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	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2021shares
Temporary Equity [Line Items]
Issuance and sale of redeemable convertible preferred stock (in shares)						13,643,059	17,842,914	737,463
Issuance and sale of redeemable convertible preferred stock, price per share (in dollars per share) | $ / shares						$ 6.78	$ 6.78			$ 6.78	$ 6.78
Aggregate purchase price | $										$ 213,500,000
Equity issuance costs | $										$ 11,400,000	$ 11,359,000
Convertible preferred stock, shares authorized (in shares)						50,000,000				50,000,000	50,000,000	0
Convertible preferred stock, shares issued (in shares)						31,485,973				31,485,973	31,485,973	0
Convertible preferred stock, shares outstanding (in shares)	31,485,973					31,485,973				31,485,973	31,485,973	0
Convertible preferred stock, liquidation preference | $						$ 213,500,000				$ 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	527,767.87
Class B Common Stock
Temporary Equity [Line Items]
Conversion ratio		2

Equity (Details)

Equity (Details)	Dec. 31, 2021d$ / sharesshares	Dec. 31, 2021d$ / sharesshares	Sep. 01, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Class of Warrant or Right [Line Items]
Common stock, shares authorized (in shares) | shares	600,000,000	600,000,000	600,000,000	600,000,000
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares) | shares	1,000,000	1,000,000	1,000,000	1,000,000
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Fair market value price period | d	10
Fair market value, maximum conversion ratio	0.361	0.361
Common stock equals or exceeds $10
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 10	$ 10
Redemption price (in usd per share)	$ 0.10	$ 0.10
Notice required for redemption of warrants | d		30
Trading days threshold for warrant redemption | d	20
Consecutive trading days threshold for redemption | d	30
Business days required for notice | d	3
Common stock equals or exceeds $10 | Minimum
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 10	$ 10
Common stock equals or exceeds $10 | Maximum
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	18	18
Common stock equals or exceeds $18
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	18	18
Redemption price (in usd per share)	$ 0.01	$ 0.01
Trading days threshold for warrant redemption | d	20
Consecutive trading days threshold for redemption | d	30
Business days required for notice | d	3
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	5,519,991	5,519,991
Exercise price of warrants (in usd per share)	$ 11.50	$ 11.50
Private Placement Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	5,013,333	5,013,333
Exercise price of warrants (in usd per share)	$ 11.50	$ 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	Dec. 31, 2021USD ($)$ / sharesshares	Aug. 31, 2021shares	Jan. 31, 2020shares	Dec. 31, 2017shares	Dec. 31, 2020shares	Dec. 31, 2021USD ($)plan$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | plan									3
Options outstanding (in shares) | shares				19,702,845				11,350,934	19,702,845	11,350,934
Total intrinsic value of options exercised | $									$ 4,700	$ 400
Weighted-average grant date fair value for options granted (in dollar per share) | $ / shares									$ 4.78	$ 1.69
Stock-based compensation | $									$ 28,415	$ 15,172
Risk-free interest rate, minimum									0.64%	0.32%
Risk-free interest rate, maximum									1.38%	0.54%
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [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	527,767.87
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
Stock-based compensation | $									$ 16,810	$ 10,572
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period									4 years
Compensation expense not yet recognized | $				$ 40,200					$ 40,200
Compensation expense not yet recognized, weighted average period									2 years 11 months 19 days
Incremental stock-based compensation expense | $									$ 700
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 | $				$ 40					$ 40
Performance Awards | Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares) | shares				53,120	14,727
Stock-based compensation | $									800
Earn-Out Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense not yet recognized | $				$ 6,700					$ 6,700
Compensation expense not yet recognized, weighted average period				1 year 2 months 12 days
Stock-based compensation | $				$ 2,900
Number of shares outstanding (in shares) | shares				1,444,484					1,444,484
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%
Earn-Out Shares | Merger Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares) | 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
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
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue (in shares) | shares				21,300,000					21,300,000
Number of awards granted (in shares) | shares									2,944,448
Number of shares reserved for issuance (in shares) | shares				38,496,936					38,496,936
Outside Inventive Plan, 2017 and 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares) | shares				14,443,767					14,443,767
Outside Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares) | shares				5,259,078					5,259,078

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 28,415	$ 15,172
Cost of revenue | Assay services revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	633	413
Cost of revenue | Product revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	14	14
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	10,958	4,173
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 16,810	$ 10,572

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of Shares
Outstanding, beginning balance (in shares)	11,350,934
Granted (in shares)	10,271,113
Exercised (in shares)	(1,311,307)
Forfeited (in shares)	(453,551)
Expired (in shares)	(154,344)
Outstanding, ending balance (in shares)	19,702,845	11,350,934
Exercisable (in shares)	7,554,433
Vested and expected to vest (in shares)	17,144,896
Weighted Average Exercise Price Per Share
Outstanding, balance (in dollars per share)	$ 5.83	$ 3.92
Granted (in dollars per share)	7.49
Exercised (in dollars per share)	3.05
Forfeited (in dollars per share)	4.54
Expired (in dollars per share)	2.26
Exercisable (in dollars per share)	3.88
Vested and expected to vest (in dollars per share)	$ 5.67
Weighted Average Remaining Contractual Life (in years)
Outstanding, Weighted Average Remaining Contractual Life	8 years 3 months 21 days
Exercisable, Weighted Average Remaining Contractual Life	6 years 9 months 7 days
Vested and expected to vest, Weighted Average Remaining Contractual Life	8 years 2 months 1 day
Aggregate Intrinsic Value
Outstanding, Aggregate Intrinsic Value	$ 115,314
Exercisable, Aggregate Intrinsic Value	58,655
Vested and expected to vest, Aggregate Intrinsic Value	$ 103,148

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Assumptions Used for Valuing Stock Options Granted (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%
Expected volatility, minimum	71.40%	83.50%
Expected volatility, maximum	92.80%	92.00%
Risk-free interest rate, minimum	0.64%	0.32%
Risk-free interest rate, maximum	1.38%	0.54%
Stock options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Expected weighted-average life of options	6 years 14 days	5 years 11 months 12 days

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 132,953,000	$ 113,310,000
Valuation allowance, period increase	19,700,000
Unrecognized tax benefits that would impact effective tax rate	1,300,000	1,200,000
Unrecognized tax benefits, income tax penalties and interest accrued	0	0
Research and Development Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	12,500,000	11,800,000
Federal
Operating Loss Carryforwards [Line Items]
Net operating losses	385,500,000	328,600,000
Net operating losses, not subject to expiration	179,900,000
Net operating losses, subject to expiration	205,500,000
State
Operating Loss Carryforwards [Line Items]
Net operating losses	$ 359,900,000	$ 340,300,000

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current income tax expense (benefit)
Federal	$ 17	$ 3
State	21	20
Current income tax expense (benefit)	38	23
Deferred tax expense (benefit)
Federal	0	0
State	0	0
Deferred tax expense (benefit)	0	0
Provision for income taxes	$ 38	$ 23

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax benefit at the federal statutory rate	$ (18,404)	$ (11,128)
State income taxes, net of federal income tax benefit	(3,008)	(3,003)
Nondeductible stock-based compensation	1,049	1,094
Expiration of net operating loss and research and development credits	3,244	1,056
Term loan amendment	0	19
Change in valuation allowance	15,092	14,446
Other permanent items	1,311	4
Research and development credits	(1,110)	(1,110)
Return to provision adjustments	855	(993)
Other, net	1,009	(362)
Provision for income taxes	$ 38	$ 23

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 98,032	$ 84,358
Research and development credits	11,264	10,590
Depreciation and amortization	598	539
Deferred revenue	1,344	1,389
Accrued expenses and non-deductible reserves	200	761
Compensation accruals	1,796	1,076
Stock-based compensation	11,952	8,731
Interest expense carryforward	6,628	3,242
Loan discount and issuance costs	0	2,333
Other	1,139	291
Deferred tax assets, gross	132,953	113,310
Valuation allowance	(132,953)	(113,310)
Deferred income taxes, net of valuation allowance	0	0
Deferred income tax liabilities	0	0
Net deferred income tax assets (liabilities)	$ 0	$ 0

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits, beginning balance	$ 1,176	$ 1,071
Increase related to tax positions taken in the current year	111	111
Increase related to tax positions taken in the prior year	0	0
Decrease related to tax positions taken in the prior year	(36)	(6)
Unrecognized tax benefits, ending balance		1,176
Unrecognized tax benefits, ending balance	$ 1,251	$ 1,176

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 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	$ 1.1	$ 0.8

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Payments for charitable contributions	$ 200	$ 100
Accrued charitable contributions, current	400	400
Stock-based compensation	28,415	$ 15,172
Master Agreement
Class of Stock [Line Items]
Payments for related party consulting services	900
Performance Awards | Class B Common Stock
Class of Stock [Line Items]
Stock-based compensation	$ 800

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	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net loss	$ (41,419)	$ (64,240)	$ (87,547)	$ (53,015)
Weighted-average shares outstanding, basic (in shares)	137,176,228	122,268,443	137,157,283	65,161,358
Weighted-average shares outstanding, diluted (in shares)	137,176,228	122,268,443	137,157,283	65,161,358
Net loss per share, basic (in dollars per share)	$ (0.30)	$ (0.53)	$ (0.64)	$ (0.81)
Net loss per share, diluted (in dollars per share)	$ (0.30)	$ (0.53)	$ (0.64)	$ (0.81)

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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	30,236,169	11,801,525
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	19,702,845	11,350,934
Public Warrants and Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	10,533,324	0
Convertible debt (on an if-converted basis)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive shares (in shares)	0	450,591

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Feb. 10, 2022lease	Jan. 04, 2022USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Collaboration agreement payments			$ 5,385	$ 5,177	$ 5,469
Subsequent Event
Subsequent Event [Line Items]
Number of lease agreements | lease	2
Subsequent Event | Illumina Cambridge, Ltd.
Subsequent Event [Line Items]
Collaboration agreement payments		$ 30,000

Correction of Error in Previo_3

Correction of Error in Previously Reported 2021 Interim Financial Statements (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Collaboration revenue	$ 763	$ 2,288	$ 3,051	$ 2,483
Other revenue	1,655	7,306	9,260	5,672
Total revenue	19,992	58,632	81,626	55,889
Operating expenses
Research and development	15,596	32,304	43,496	30,749
Selling, general and administrative	20,632	48,274	77,971	36,882
Total operating expenses	44,998	103,578	154,930	90,245
Loss from operations	(25,006)	(44,946)	(73,304)	(34,356)
Other (expense) income
Interest income and other, net	55	126	225	230
Interest expense	(2)	(1,324)	(1,324)	(18,338)
Change in fair value of warrant liabilities	(8,111)	(8,111)	(6,952)	0
Change in fair value of earn-out liability	(5,662)	(5,662)	(1,869)	0
Loss on extinguishment of debt, net	(2,693)	(4,323)	(4,323)	(551)
Total other expense	(16,413)	(19,294)	(14,243)	(18,659)
Net loss	(41,419)	(64,240)	(87,547)	(53,015)
Other comprehensive loss
Net unrealized loss on available-for-sale securities	(15)	(7)	(68)	(25)
Foreign currency translation loss	(4)	(3)	(2)	(4)
Total other comprehensive loss	(19)	(10)	(70)	(29)
Comprehensive loss	$ (41,438)	$ (64,250)	$ (87,617)	$ (53,044)
Net loss per share, basic (in dollars per share)	$ (0.30)	$ (0.53)	$ (0.64)	$ (0.81)
Net loss per share, diluted (in dollars per share)	$ (0.30)	$ (0.53)	$ (0.64)	$ (0.81)
Weighted-average shares used in computing net loss per share, basic (in shares)	137,176,228	122,268,443	137,157,283	65,161,358
Weighted-average shares used in computing net loss per share, diluted (in shares)	137,176,228	122,268,443	137,157,283	65,161,358
Assay services revenue
Revenues [Abstract]
Revenue	$ 17,499	$ 48,308	$ 68,038	$ 45,827
Operating expenses
Cost of revenue	8,737	22,548	32,782	21,857
Product revenue
Revenues [Abstract]
Revenue	75	730	1,277	1,907
Operating expenses
Cost of revenue	33	452	$ 681	$ 757
Originally Reported
Revenues [Abstract]
Collaboration revenue	763	2,288
Other revenue	1,655	7,306
Total revenue	19,992	58,632
Operating expenses
Research and development	15,596	32,304
Selling, general and administrative	20,632	48,274
Total operating expenses	44,998	103,578
Loss from operations	(25,006)	(44,946)
Other (expense) income
Interest income and other, net	55	126
Interest expense	(2)	(1,324)
Change in fair value of warrant liabilities	(8,111)	(8,111)
Change in fair value of earn-out liability	(5,662)	(5,662)
Loss on extinguishment of debt, net	(2,693)	(4,323)
Total other expense	(16,413)	(19,294)
Net loss	(41,419)	(64,240)
Other comprehensive loss
Net unrealized loss on available-for-sale securities	(15)	(7)
Foreign currency translation loss	(4)	(3)
Total other comprehensive loss	(19)	(10)
Comprehensive loss	$ (41,438)	$ (64,250)
Net loss per share, basic (in dollars per share)	$ (0.55)	$ (1.01)
Net loss per share, diluted (in dollars per share)	$ (0.55)	$ (1.01)
Weighted-average shares used in computing net loss per share, basic (in shares)	75,684,521	63,752,006
Weighted-average shares used in computing net loss per share, diluted (in shares)	75,684,521	63,752,006
Originally Reported | Assay services revenue
Revenues [Abstract]
Revenue	$ 17,499	$ 48,308
Operating expenses
Cost of revenue	8,737	22,548
Originally Reported | Product revenue
Revenues [Abstract]
Revenue	75	730
Operating expenses
Cost of revenue	33	452
Adjustment
Revenues [Abstract]
Collaboration revenue	0	0
Other revenue	0	0
Total revenue	0	0
Operating expenses
Research and development	0	0
Selling, general and administrative	0	0
Total operating expenses	0	0
Loss from operations	0	0
Other (expense) income
Interest income and other, net	0	0
Interest expense	0	0
Change in fair value of warrant liabilities	0	0
Change in fair value of earn-out liability	0	0
Loss on extinguishment of debt, net	0	0
Total other expense	0	0
Net loss	0	0
Other comprehensive loss
Net unrealized loss on available-for-sale securities	0	0
Foreign currency translation loss	0	0
Total other comprehensive loss	0	0
Comprehensive loss	$ 0	$ 0
Net loss per share, basic (in dollars per share)	$ 0.25	$ 0.48
Net loss per share, diluted (in dollars per share)	$ 0.25	$ 0.48
Weighted-average shares used in computing net loss per share, basic (in shares)	61,491,707	58,516,437
Weighted-average shares used in computing net loss per share, diluted (in shares)	61,491,707	58,516,437
Adjustment | Assay services revenue
Revenues [Abstract]
Revenue	$ 0	$ 0
Operating expenses
Cost of revenue	0	0
Adjustment | Product revenue
Revenues [Abstract]
Revenue	0	0
Operating expenses
Cost of revenue	$ 0	$ 0