Telesis Bio (TBIO) 10-Q 11 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-40497
Entity Registrant Name	Telesis Bio Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-1216839
Entity Address, Address Line One	10431 Wateridge Circle
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	228-4115
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	TBIO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,947,850
Entity Central Index Key	0001850079
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 46,608	$ 30,419
Restricted cash	175	175
Short-term investments	747	13,159
Accounts receivable, net of allowance for credit losses of $763 and $343 at June 30, 2023 and December 31, 2022, respectively	8,240	5,851
Inventory	3,861	2,200
Prepaid expenses and other current assets	1,912	3,288
Total current assets	61,543	55,092
Property and equipment, net	7,557	6,861
Right-of-use assets	27,942	1,660
Other long-term assets	973	981
Goodwill	14,886	14,886
Other intangible assets, net	1,625	1,882
Total assets	114,526	81,362
Current liabilities:
Accounts payable	1,430	1,295
Accrued employee expenses	3,788	5,858
Finance lease liability, current portion	28	59
Operating lease liability, current portion	1,521	578
Deferred revenue, current portion	2,173	3,958
Other accrued liabilities	1,085	1,377
Other current liabilities	361	373
Total current liabilities	10,386	13,498
Finance lease liability, net of current portion	31	30
Operating lease liability, net of current portion	27,810	1,111
Notes payable, net of discount and current portion	19,873	19,649
Derivative liabilities	208	367
Deferred revenue, net of current portion	149	142
Total liabilities	58,457	34,797
Commitments and contingencies (Note 14)
Preferred stock, $.0001 par value; 5,000,000 shares authorized: Redeemable convertible preferred stock, 280,000 and 0 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively; liquidation preference of $28,153 and $0 at June 30, 2023 and December 31, 2022, respectively	28,153	0
Stockholders' equity
Common stock, $.0001 par value; 100,000,000 shares authorized at June 30, 2023 and December 31, 2022; 29,920,502 and 29,647,091 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	5	5
Additional paid-in capital	161,058	160,304
Accumulated other comprehensive income (loss)		(3)
Accumulated deficit	(133,147)	(113,741)
Total stockholders' equity	27,916	46,565
Total liabilities, redeemable convertible preferred stock and stockholders' equity	$ 114,526	$ 81,362

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Allowance for credit losses	$ 763	$ 343
Liabilities and stockholders' equity
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	280,000
Redeemable convertible preferred stock, shares outstanding (in shares)	280,000
Redeemable convertible preferred stock, liquidation preference	$ 28,153
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	29,920,502	29,647,091
Common stock, shares outstanding (in shares)	29,920,502	29,647,091
Redeemable Convertible Preferred Stock
Liabilities and stockholders' equity
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	280,000
Redeemable convertible preferred stock, preferred stock, shares issued (in shares)	280,000	0
Redeemable convertible preferred stock, shares outstanding (in shares)	280,000	0
Redeemable convertible preferred stock, liquidation preference	$ 28,153	$ 0
Preferred Stock
Liabilities and stockholders' equity
Redeemable convertible preferred stock, preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred stock, preferred stock, shares authorized (in shares)	5,000,000	5,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Total revenue	$ 8,652	$ 5,655	$ 14,968	$ 11,291
Cost of revenue	2,959	2,943	5,764	5,801
Gross profit	5,693	2,712	9,204	5,490
Operating expenses:
Research and development	4,587	6,950	9,708	13,255
Sales and marketing	3,360	4,688	7,167	8,225
General and administrative	5,712	5,561	11,266	11,360
Total operating expenses	13,659	17,199	28,141	32,840
Loss from operations	(7,966)	(14,487)	(18,937)	(27,350)
Other income (expense), net:
Interest expense, net	(333)	(299)	(582)	(635)
Change in fair value of derivative liabilities	19	(27)	159	(4)
Other expense, net	(3)	(12)	(39)	(24)
Total other expense, net	(317)	(338)	(462)	(663)
Loss before provision for income taxes	(8,283)	(14,825)	(19,399)	(28,013)
Provision for income taxes	(4)	(6)	(7)	(12)
Net loss	(8,287)	(14,831)	(19,406)	(28,025)
Less: redeemable convertible preferred stock dividends	(153)		(153)
Net loss attributable to common stockholders	$ (8,440)	$ (14,831)	$ (19,559)	$ (28,025)
Net loss per share attributable to common stock holders
Basic (in dollars per share)	$ (0.28)	$ (0.50)	$ (0.66)	$ (0.95)
Diluted (in dollars per share)	$ (0.28)	$ (0.50)	$ (0.66)	$ (0.95)
Weighted average common stock outstanding
Basic (in shares)	29,774,275	29,435,838	29,718,948	29,383,870
Diluted (in shares)	29,774,275	29,435,838	29,718,948	29,383,870
Net loss	$ (8,287)	$ (14,831)	$ (19,406)	$ (28,025)
Unrealized gain (loss) on available- for-sale short-term investments	(2)	(18)	3	(34)
Total comprehensive loss	(8,289)	(14,849)	(19,403)	(28,059)
Product revenue
Revenue:
Total revenue	2,670	2,337	5,671	4,760
Service revenue
Revenue:
Total revenue	1,713	1,755	3,387	3,460
Collaboration revenue
Revenue:
Total revenue	3,462	962	4,424	1,924
Royalties and other revenue
Revenue:
Total revenue	$ 807	$ 601	$ 1,486	$ 1,147

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period (in shares) at Dec. 31, 2021			29,318,578
Balance at beginning of period at Dec. 31, 2021	$ 90,784		$ 5	$ 156,049	$ (65,270)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			70,534
Issuance of common stock upon exercise of stock options	78			78
Stock-based compensation expense	448			448
Unrealized gain (loss) on available- for-sale short-term investments	(16)					$ (16)
Net loss	(13,194)				(13,194)
Balance at end of period (in shares) at Mar. 31, 2022			29,389,112
Balance at end of period at Mar. 31, 2022	78,100		$ 5	156,575	(78,464)	(16)
Balance at beginning of period (in shares) at Dec. 31, 2021			29,318,578
Balance at beginning of period at Dec. 31, 2021	90,784		$ 5	156,049	(65,270)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on available- for-sale short-term investments	(34)
Net loss	(28,025)
Balance at end of period (in shares) at Jun. 30, 2022			29,514,071
Balance at end of period at Jun. 30, 2022	64,720		$ 5	158,044	(93,295)	(34)
Balance at beginning of period (in shares) at Mar. 31, 2022			29,389,112
Balance at beginning of period at Mar. 31, 2022	78,100		$ 5	156,575	(78,464)	(16)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			11,752
Issuance of common stock upon exercise of stock options	12			12
Issuance of common stock upon exercise of ESPP	339			339
Issuance of common stock upon exercise of ESPP (in shares)			113,207
Stock-based compensation expense	1,118			1,118
Unrealized gain (loss) on available- for-sale short-term investments	(18)					(18)
Net loss	(14,831)				(14,831)
Balance at end of period (in shares) at Jun. 30, 2022			29,514,071
Balance at end of period at Jun. 30, 2022	$ 64,720		$ 5	158,044	(93,295)	(34)
Balance at beginning of period (in shares) at Dec. 31, 2022	29,647,091		29,647,091
Balance at beginning of period at Dec. 31, 2022	$ 46,565		$ 5	160,304	(113,741)	(3)
Balance at beginning of period (in shares) at Dec. 31, 2022		0
Balance at beginning of period at Dec. 31, 2022	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			17,380
Issuance of common stock upon exercise of stock options	12			12
Vesting of restricted stock units (in shares)			34,025
Stock-based compensation expense	1,156			1,156
Unrealized gain (loss) on available- for-sale short-term investments	5					5
Net loss	(11,119)				(11,119)
Balance at end of period (in shares) at Mar. 31, 2023			29,698,496
Balance at end of period at Mar. 31, 2023	$ 36,619		$ 5	161,472	(124,860)	2
Balance at end of period (in shares) at Mar. 31, 2023		0
Balance at end of period at Mar. 31, 2023		$ 0
Balance at beginning of period (in shares) at Dec. 31, 2022	29,647,091		29,647,091
Balance at beginning of period at Dec. 31, 2022	$ 46,565		$ 5	160,304	(113,741)	(3)
Balance at beginning of period (in shares) at Dec. 31, 2022		0
Balance at beginning of period at Dec. 31, 2022	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	69,158
Unrealized gain (loss) on available- for-sale short-term investments	$ 3
Net loss	$ (19,406)
Balance at end of period (in shares) at Jun. 30, 2023	29,920,502		29,920,502
Balance at end of period at Jun. 30, 2023	$ 27,916		$ 5	161,058	(133,147)
Balance at end of period (in shares) at Jun. 30, 2023	280,000	280,000
Balance at end of period at Jun. 30, 2023	$ 28,153	$ 28,153
Balance at beginning of period (in shares) at Mar. 31, 2023			29,698,496
Balance at beginning of period at Mar. 31, 2023	36,619		$ 5	161,472	(124,860)	2
Balance at beginning of period (in shares) at Mar. 31, 2023		0
Balance at beginning of period at Mar. 31, 2023		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			51,778
Issuance of common stock upon exercise of stock options	46			46
Issuance of common stock upon exercise of ESPP	126			126
Issuance of common stock upon exercise of ESPP (in shares)			108,338
Issuance of redeemable convertible preferred stock, net of issuance costs (in shares)		280,000
Issuance of redeemable convertible preferred stock, net of issuance costs		$ 18,410
Issuance of warrants, net of issuance costs	8,122			8,122
Redeemable convertible preferred stock dividends	(153)	153		(153)
Accretion of preferred stock		$ 9,590
Accretion of preferred stock	(9,590)			(9,590)
Vesting of restricted stock units (in shares)			61,890
Stock-based compensation expense	1,035			1,035
Unrealized gain (loss) on available- for-sale short-term investments	(2)					$ (2)
Net loss	$ (8,287)				(8,287)
Balance at end of period (in shares) at Jun. 30, 2023	29,920,502		29,920,502
Balance at end of period at Jun. 30, 2023	$ 27,916		$ 5	$ 161,058	$ (133,147)
Balance at end of period (in shares) at Jun. 30, 2023	280,000	280,000
Balance at end of period at Jun. 30, 2023	$ 28,153	$ 28,153

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Parenthetical) $ in Millions	3 Months Ended
	Jun. 30, 2023 USD ($)
Redeemable Convertible Preferred Stock
Payments of Stock Issuance Costs	$ 1
Warrants
Payments of Stock Issuance Costs	$ 0.4

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows From Operating Activities:
Net loss	$ (19,406)	$ (28,025)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	780	449
Amortization of intangible assets	257	257
Amortization of debt discount	209	225
Stock-based compensation	2,191	1,566
Amortization of operating lease right-of-use assets	1,060	534
Change in fair value of derivative liabilities	(159)	4
Non-cash interest on finance leases	(1)	(2)
Loss on asset disposal	28
Accretion of discount on short-term investments	(178)	(15)
Changes in operating assets and liabilities:
Accounts receivable	(2,389)	(1,220)
Inventories	(1,661)	592
Deposits, prepaid expenses and other current assets	1,384	743
Accounts payable, accrued payroll and accrued liabilities	(2,104)	1,647
Deferred revenue	(1,778)	5,977
Operating lease liabilities	300	(705)
Net cash used in operating activities	(21,467)	(17,973)
Cash Flows From Investing Activities:
Proceeds from maturities of short-term investments	19,750	25,720
Purchase of property and equipment	(1,624)	(3,314)
Purchases of short-term investments	(7,157)	(65,346)
Net cash provided by (used in) investing activities	10,969	(42,940)
Cash Flows From Financing Activities:
Payments on finance leases	(29)	(40)
Proceeds from the exercise of common stock options	58	90
Proceeds from the issuance of common stock related to ESPP	126	339
Proceeds from the issuance of preferred stock, net of issuance costs	18,410
Proceeds from the issuance of warrants, net of issuance costs	8,122
Net cash provided by financing activities	26,687	389
Net Increase (Decrease) In Cash, Cash Equivalents, and Restricted Cash	16,189	(60,524)
Cash, cash equivalents, and restricted cash at beginning of period	30,594	82,806
Cash, cash equivalents, and restricted cash at end of period	46,783	22,282
Supplemental Disclosure Of Cash Flow Information:
Cash paid for interest	1,055	576
Cash paid for taxes	7	12
Purchases of property and equipment included in accounts payable and accrued expenses	28	$ 15
Redeemable convertible preferred stock dividends	153
Right-of-use-assets obtained in exchange for operating lease liabilities	$ 27,342

Organization, Operations, and L

Organization, Operations, and Liquidity	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION, OPERATIONS, AND LIQUIDITY	1. ORGANIZATION, OPERATIONS, AND LIQUIDITY Business Telesis Bio Inc. (the Company) was incorporated in the state of Delaware in March 2011, as Synthetic Genomics Solution, Inc., a wholly owned subsidiary of Synthetic Genomics, Inc. (SGI). The Company changed its name to SGI-DNA, Inc. (SGI-DNA) in February 2013, and to Codex DNA, Inc. in March 2020, and then to Telesis Bio Inc. in November 2022. SGI-DNA Limited, a United Kingdom company focused on sales and marketing activities, is a wholly owned subsidiary of Telesis Bio Inc. The Company manufactures and sells laboratory equipment, specifically synthetic biology instruments, reagents and associated products and related services, primarily to pharmaceutical and academic laboratories worldwide. On November 18, 2021, the Company entered into a Share Purchase Agreement, with the stockholders of EtonBio, Inc., a California corporation (Eton), pursuant to which the Company agreed to purchase all of the outstanding shares of capital stock of Eton (see Note 7). The total purchase price was approximately $ 14.1 million, which was funded with the Company’s existing cash on hand. Eton is a San Diego-based biotech company specializing in synthetic biology products and services, including DNA sequencing and oligo synthesis, for the global academic research, pharmaceutical, and biotechnology industries. Eton also markets DNA prep services and products such as antibodies, peptides, and metabolism assay kits. Liquidity Since its inception, the Company has devoted substantially all of its efforts to raising capital, commercializing its current products, and developing new product offerings. The Company is subject to a number of risks similar to those of other companies conducting high-risk, early-stage research and development of products. Principal among these risks are a dependence on key individuals and intellectual property, competition from other products and companies, and the technical risks associated with the successful research, development and manufacturing of its products. The Company’s success is dependent upon its ability to continue to raise additional capital in order to fund ongoing research and development, commercialize its products, generate revenue, meet its obligations, and, ultimately, become profitable. Products currently under development will require significant additional research and development efforts. These efforts require significant amounts of additional capital, adequate personnel and infrastructure. Since inception, the Company has incurred cumulative operating losses and negative cash flows from operations. These operating losses and negative cash flows have been financed principally from the issuance of equity securities and debt. There can be no assurance that such capital will be available in sufficient amounts, on terms acceptable to the Company, or at all. Risks to which the Company is exposed include uncertainties related to the ability to achieve revenue-generating products; current and potential competitors with greater financial, technological, production, and marketing resources; dependence on key management personnel; and raising additional capital, as needed. Based upon the Company’s current plans, management believes it has sufficient financial resources to fund the Company’s operations for the next twelve months following the issuance date of these condensed consolidated financial statements. As discussed in Note 9, the Company’s 2022 Loan Agreements contain customary affirmative and negative covenants and events of default. In the event that a future default of the 2022 Loan Agreements triggers a reclassification of the Company’s long-term debt to current and the Company is unable to raise additional capital in sufficient amounts or on acceptable terms, management’s contingency plans include but are not limited to the following: (i) reducing or delaying certain product development costs, sales and marketing, and general and administrative costs; (ii) deferring or limiting the Company’s spending on capital equipment; and (iii) minimize the use of external consultants and contract resources. The Company has concluded that, even without raising any additional capital, management’s contingency plan to successfully reduce expenses to align with its available cash is probable and sufficient to alleviate substantial doubt for a period of at least twelve months following the issuance date of these condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC) and in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP), and include the accounts of the Company and its wholly owned subsidiaries after the elimination of all significant intercompany accounts and transactions. Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (ASC) and as amended by Accounting Standards Updates (ASU) of the Financial Accounting Standards Board (FASB). The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2022, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s condensed consolidated balance sheet as of June 30, 2023, the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2023 and 2022, condensed consolidated statements of stockholders’ equity for the three and six months ended June 30, 2023 and 2022 and the condensed consolidated statements of cash flows for the six months ended June 30, 2023 and 2022. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on March 22, 2023, as amended on May 1, 2023 (the Annual Report). The condensed consolidated balance sheet data as of December 31, 2022 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP and Article 8 of Regulation S-X. The results for the three and six months ended June 30, 2023 and 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2023, any other interim periods, or any future year or period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report. Since the date of the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report, there have been no changes to its significant accounting policies except as noted below. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods presented. Key estimates in the consolidated financial statements include the Company’s ability to continue as a going concern, revenue recognition, impairment assessment for goodwill and intangible assets, allowance for doubtful accounts, estimated useful lives of property and equipment, valuation of inventory, accrued expenses, valuation of deferred income tax assets, valuation of derivative liabilities, valuation of preferred stock and warrants, share-based compensation, and accrued warranty are subject to significant estimation. Actual results could differ from those estimates. Making estimates requires management to exercise significant judgment and it is reasonably possible that management's estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements could change in the near term due to one of more future confirming events. Reclassifications Certain prior year amounts have been reclassified to conform to the current presentation. The Company reclassified an aggregate of $ 0.2 million and $ 0.1 million of field services and technical support costs from the research and development line to the sales and marketing and general administrative lines on the consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2022, respectively. The Company believes these costs are better reflected in sales and marketing. The reclassification had no impact on net loss for the six months ended June 30, 2022. Restricted Cash In accordance with ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, the Company describes the change during the period in the total of cash, cash equivalents and restricted cash, and includes restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the condensed consolidated statements of cash flows. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that comprises the total of the same such amounts shown in the condensed consolidated statements of cash flows for all periods presented herein (in thousands): June 30, December 31, Cash and cash equivalents $ 46,608 $ 30,419 Restricted cash 175 175 Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows $ 46,783 $ 30,594 Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) (ASU 2016-13). ASU 2016-13 requires measurement and recognition of expected credit losses for financial assets. In April 2019, the FASB issued clarification to ASU 2016-13 within ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This update is effective for entities other than public business entities, including emerging growth companies that elected to defer compliance with new or revised financial accounting standards until a company that is not an issuer is required to comply with such standards, for annual reporting periods beginning after December 15, 2022. The Company adopted this standard on January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company's condensed consolidated financial statements and related disclosures. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The ASU is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2022. Entities should apply the amendments prospectively and early adoption is permitted. The Company adopted this standard on January 1, 2023. The adoption of ASU 2021-08 did not have a material impact on the Company's condensed consolidated financial statements and related disclosures.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	3. FAIR VALUE MEASUREMENT The following tables summarize the fair values of the Company’s assets and liabilities on the condensed consolidated balance sheets which comprise of money market funds, commercial paper, U.S. government agencies and the contingent put option liability (in thousands): Fair value measurements as of June 30, 2023 Level 1 Level 2 Level 3 Total Assets Money market funds $ 43,563 $ — $ — $ 43,563 Commercial paper — 747 — 747 Total $ 43,563 $ 747 $ — $ 44,310 Liabilities Contingent put option liability $ — $ — $ 208 $ 208 Total $ — $ — $ 208 $ 208 Fair value measurements as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market funds $ 26,784 $ — $ — $ 26,784 Commercial paper — 1,737 — 1,737 U.S. Government agencies — 11,422 — 11,422 Total $ 26,784 $ 13,159 $ — $ 39,943 Liabilities Contingent put option liability $ — $ — $ 367 $ 367 Total $ — $ — $ 367 $ 367 During the six months ended June 30, 2023 and the year ended December 31, 2022, there were no transfers between Level 1, Level 2 and Level 3. Contingent Put Option Liability The contingent put option liability consists of the fair value of the contingent interest feature and acceleration clause (contingent put option) under the 2021 Loan Agreement and the 2022 Term Loan Agreement (see Note 9). The fair value of the contingent put option liability was based on significant inputs not observable in the market, which represent a Level 3 measurement within the fair value hierarchy. The Company’s valuation of the contingent put option liability utilized a risk-neutral valuation model wherein the fair value of the underlying debt facility is estimated, both with and without the presence of the default provisions, holding all other assumptions constant. The Company assesses these assumptions and estimates each reporting period as additional information impacting the assumptions are obtained. Changes in the fair value of the contingent put option liability are recognized in other expense, net as part of the change in fair value of derivative liabilities in the condensed consolidated statements of operations and comprehensive loss. The significant inputs not observable in the market consist of the adjusted market rate of debt and the probability of default. As of June 30, 2023 and December 31, 2022, the adjusted market rate of debt was 13.43 % and 12.58 %, respectively, and the probability of default was 51 % and 63 %, respectively. A significant change in those inputs could cause a significant change in valuation. The following table provides a roll-forward of the aggregate fair value of the Company’s derivative liabilities for which fair value is determined using Level 3 inputs (in thousands): Contingent Put Option Liability Fair value at December 31, 2022 $ 367 Change in fair value ( 159 ) Fair value at June 30, 2023 $ 208 Contingent Put Option Liability Fair value at December 31, 2021 $ 108 Change in fair value 4 Fair value at June 30, 2022 $ 112

Investments

Investments	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	4. INVESTMENTS The following tables summarize the short-term investments held (in thousands): June 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Commercial paper $ 747 $ — $ — $ 747 Total $ 747 $ — $ — $ 747 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Commercial paper $ 1,737 $ — $ — $ 1,737 U.S. Government agencies 11,425 1 ( 4 ) 11,422 Total $ 13,162 $ 1 $ ( 4 ) $ 13,159 As of June 30, 2023 and December 31, 2022, all short-term investments held by the Company had remaining contractual maturities of one year or less. As of June 30, 2023 and December 31, 2022, the Company reviewed its investment portfolio to assess whether the unrealized losses on its available-for-sale investments were temporary. In determining whether the decline in fair value of these securities was temporary, the Company evaluated whether it intended to sell the security and whether it was more likely than not that the Company would be required to sell the security before recovering its amortized cost basis. During the three and six months ended June 30, 2023 and 2022 , the Company concluded that none of its investments in securities were other-than-temporarily-impaired and thus recorded no impairment losses for its investments in securities.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
INVENTORY	5. INVENTORY Inventories include material, labor and overhead and are stated at the lower of cost (first-in and first-out method) or net realizable value . The components of inventory consisted of the following on June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 1,931 $ 1,044 Work in process and sub-assemblies 1,796 647 Finished goods 134 509 Total $ 3,861 $ 2,200

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	6. PROPERTY AND EQUIPMENT Property and equipment consisted of the following on June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Machinery and equipment $ 6,512 $ 5,647 Furniture and fixtures 908 64 Computer hardware and software 1,999 1,531 Leasehold improvements 332 58 Construction in progress 516 1,501 Total 10,267 8,801 Less: Accumulated depreciation and amortization ( 2,710 ) ( 1,940 ) Total property and equipment, net $ 7,557 $ 6,861 Depreciation expense for the three months ended June 30, 2023 and 2022 was $ 0.4 million and $ 0.2 million, respectively, and depreciation expense for the six months ended June 30, 2023 and 2022 was $ 0.8 million and $ 0.4 million, respectively, and is included in operating expenses.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	7. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill In 2019, SGI sold SGI-DNA to GATTACA Mining, LLC. As part of the transaction, the Company acquired its intangible assets with resulting goodwill. The goodwill carries a fair value of approximately $ 3.5 million. Due to the recent decline in global economic and labor market conditions caused by the global outbreak of the COVID-19 pandemic, the Company considered the effects on its goodwill and determined that there was no significant impact that would cause the goodwill to be impaired. There were no other events or circumstances that have changed since the last annual assessment that could reduce the fair value of the Company’s reporting segment below its carrying values. In connection with the Eton acquisition in November 2021, the excess of the purchase price over the fair value of the net identifiable tangible and intangible assets acquired has been assigned to goodwill at a fair value of $ 11.4 million. For the three and six months ended June 30, 2023 and 2022 , the Company did no t record any impairment of goodwill. Other Intangible Assets Other intangible assets acquired in the sale of SGI-DNA to GATTACA Mining, LLC include the rights to technology and the SGI-DNA trade name. The technology was valued at approximately $ 3.2 million with a seven year useful life. Other intangible assets acquired in the Eton acquisition include the Eton trade name, customer relationships and non-competition agreements. The trade name was valued at $ 0.1 million with a three year useful life, the customer relationships at $ 0.4 million with a 15 year useful life and the non-competition agreements at approximately $ 30,000 with a three year useful life. Other intangible assets, net consists of the following (in thousands): June 30, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 ( 1,949 ) $ 1,201 Trade name 80 ( 43 ) 37 Customer relationships 420 ( 47 ) 373 Non-competition agreements 30 ( 16 ) 14 Total $ 3,680 $ ( 2,055 ) $ 1,625 December 31, 2022 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 $ ( 1,725 ) $ 1,425 Trade name 80 ( 30 ) 50 Customer relationships 420 ( 32 ) 388 Non-competition agreements 30 ( 11 ) 19 Total $ 3,680 $ ( 1,798 ) $ 1,882 Amortization expense for each of the three months ended June 30, 2023 and 2022 was approximately $ 0.1 million, and amortization expense for each of the six months ended June 30, 2023 and 2022 was approximately $ 0.3 million. The following table summarizes the estimated future amortization expense of the intangible assets as of June 30, 2023 (in thousands): Years ending December 31: Amortization of Intangible Assets 2023 $ 258 2024 510 2025 478 2026 103 2027 28 Thereafter 248 Total $ 1,625

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
LEASES	8. LEASES As of June 30, 2023, the Company had five outstanding leases for office and laboratory space and scientific manufacturing equipment. The leases have remaining terms between one month and approximately 10 years. The Company has also entered into certain short-term leases with a term of less than one year . These leases are not included within the Company’s right-of-use assets or lease liabilities due to the Company’s election of the practical expedient recognition exemption for short-term leases. Corporate Headquarters In September 2021, the Company entered into the Wateridge Pointe lease for future office and laboratory space at 10421 and 10431 Wateridge Circle, San Diego, California, and concurrently signed a second amendment to the operating lease agreement for its corporate headquarters located at 9535 Waples Street, San Diego, California (the Second Amendment). Under the Second Amendment, the lease at 9535 Waples Street terminated upon the occupancy of office and laboratory space at 10431 Wateridge Circle in March 2023. The Wateridge Pointe lease provides for a tenant improvement (TI) allowance for the renovation and build-out of the spaces up to $ 185.00 per square foot, or approximately $ 12.3 million, with an additional allowance of up to $ 10.00 per square foot, or approximately $ 0.7 million if properly requested by the Company. The lessor is solely responsible for the management and payment of the tenant improvements and these expenses will be recorded as lessor improvements per ASC 842 guidance. Combined rent for the two buildings under the Wateridge Pointe lease is approximately $ 3.9 million per year, subject to annual increases of 3 %. The Wateridge Pointe lease provides for a 10 year and 3 month term and the Company is entitled to one option to extend the lease term for an additional five years . Occupancy of 10431 Wateridge Circle and the corresponding termination of the le ase at 9535 Waples Street occurred in the first quarter of 2023. Occupancy and commencement of the 10421 Wateridge Circle lease occurred in the second quarter of 2023. The components of lease cost under ASC 842 are as follows (in thousands): June 30, 2023 2022 Lease costs Finance lease cost: Amortization of finance lease right-of-use asset $ 14 $ 40 Interest on lease liabilities 1 2 Operating lease costs 2,226 625 Variable lease cost 599 307 Short term lease cost 282 451 Total lease cost $ 3,122 $ 1,425 Supplemental disclosure of cash flow information related to leases are as follows (in thousands): June 30, 2023 2022 Cash paid for amounts included in the measurement of lease Operating cash flows from operating leases $ 866 $ 796 Operating cash flows from finance leases $ 1 $ 2 Financing cash flows from finance leases $ 29 $ 40 The weighted-average remaining lease term and discount rate were as follows: June 30, 2023 2022 Weighted-average remaining lease term Finance leases 2.3 years 0.5 years Operating leases 9.7 years 4.3 years Weighted-average discount rate Finance leases 10.0 % 7.6 % Operating leases 9.7 % 8.5 % The following table summarizes the minimum lease payments of the Company’s operating and finance lease liabilities as of June 30, 2023 (in thousands): Year Ending December 31, Operating Finance 2023 $ 2,131 $ 33 2024 4,306 32 2025 4,435 — 2026 4,568 — 2027 4,659 — Thereafter 26,078 — Total future minimum lease payments 46,177 65 Less: imputed interest ( 16,846 ) ( 6 ) Present value of operating lease liability $ 29,331 $ 59 Less: current portion of lease liability ( 1,521 ) ( 28 ) Non-current portion of lease liability 27,810 31

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE	9. NOTES PAYABLE Loan and Security Agreement As of June 30, 2023 and December 31, 2022, the loans payable on the condensed consolidated balance sheets pertains to the Credit, Security and Guaranty Agreement with MidCap Financial Trust and consists of the following (in thousands): June 30, 2023 December 31, 2022 Principal amount of loans payable $ 20,000 $ 20,000 Less: Current portion of loans payable — — Loans payable, net of current portion 20,000 20,000 Accrued interest 184 172 Final debt payment liability 1,100 900 Debt discount and financing costs, net of accretion ( 1,411 ) ( 1,423 ) Loans payable, net of discount and current portion $ 19,873 $ 19,649 2022 Loan Agreements On August 9, 2022, the Company entered into (i) a Credit, Security and Guaranty Agreement (the 2022 Term Loan Agreement), with Company and MidCap Financial Trust, and (ii) a Credit, Security and Guaranty Agreement (Revolving Loan) (the 2022 Revolving Loan Agreement, and together with the 2022 Term Loan Agreement, the 2022 Loan Agreements), with MidCap Funding IV Trust. On June 30, 2023, the Company entered into an Amendment No. 2 to Credit, Security and Guaranty Agreement to both the 2022 Term Loan Agreement and the 2022 Revolving Loan Agreement (Amendment No. 2). The impact of Amendment No. 2 was to (i) increase the interest rate on the 2022 Term Loan, (ii) increase the interest rate floor on the 2022 Term Loan and the 2022 Revolving Loan, (iii) increase the exit fee, (iv), reset the prepayment penalty, (v) require the lender’s consent for activation of future incremental Term Loan borrowings, and (vi) reset the minimum net revenue covenant. The 2022 Term Loan Agreement, as amended, provides for a secured term loan facility in an aggregate principal amount of up to $ 30.0 million, comprised of (i) a tranche one term loan of up to $ 20.0 million (Tranche One) , (ii) a tranche two term loan of up to $ 5.0 million (Tranche Two), and (iii) a tranche three term loan of up to $ 5.0 million (Tranche Three). Tranche Two and Tranche Three require the lender's consent in order for the Company to draw down those additional borrowings. The 2022 Revolving Loan Agreement provides for a secured revolving loan facility in an aggregate principal amount of up to $ 10.0 million the (Revolving Loan), subject to a borrowing base equal to percentages of eligible accounts receivable and inventory as determined in accordance with the 2022 Revolving Credit Agreement. The Term Loans and Revolving Loans mature on August 1, 2027 . Tranche One was fully funded on August 9, 2022 to pay transaction fees incurred in connection with the 2022 Loan Agreements and to repay in full the Company’s borrowings under its existing loan facility under the 2021 Loan Agreement with Silicon Valley Bank, with the remaining amount to be used be for general corporate purposes. Subject to certain terms and conditions of the 2022 Term Loan Agreement including lender consent, Tranche Two may become available between January 1, 2023, and September 30, 2023, following the Company’s achievement of specified milestones relating to minimum net revenues and minimum net cash proceeds from equity financing. Subject to certain terms and conditions of the 2022 Term Loan Agreement including lender consent, Tranche Three may become available between September 30, 2024, and March 31, 2025. The proceeds of Tranche Two and Tranche Three may be used for working capital and general corporate purposes. The 2022 Term Loan, as amended, bears interest at a floating rate based on an adjusted term secured overnight financing rate (SOFR) plus 0.1 % (subject to a floor of 3.50 %) for a one-month interest period, plus a margin of 6.75 %. Interest on the Term Loans is payable monthly in arrears on the first day of each month and at maturity. For the six months ended June 30, 2023, the effective interest rate on outstanding borrowings was approximately 13.49 %. Following an initial interest-only period, beginning on August 1, 2025, the outstanding principal amount of the term loans is repayable in twenty-four equal monthly principal payments, with all remaining outstanding principal, together with all accrued and unpaid interest, due at maturity. The Term Loans may be voluntarily prepaid in full, but not in part, at any time and are also subject to mandatory prepayments with the net proceeds of certain dispositions and casualty events, subject to specified thresholds and reinvestment rights. Prepayments are subject to prepayment premiums of 3.00 %, 2.00 %, and 1.00 % of the amount prepaid for prepayments made during years one, two, and three from the date of Amendment No. 2, respectively. Once repaid, the term loans may not be reborrowed. The Company is also obligated to pay an exit fee equal to 5.5 % of the outstanding principal amount of the term loans borrowed and other customary fees for a credit facility of this size and type. The exit fee is being accrued through interest expense using the effective interest method. The Company may borrow, repay and reborrow the Revolving Loans until August 1, 2027, at which time the revolving commitments will terminate and all outstanding revolving loans, together with all accrued and unpaid interest, must be repaid. The proceeds of the Revolving Loans may be used for working capital needs and general corporate purposes. As of June 30, 2023 , no amount of Revolving Loans was outstanding under the 2022 Revolving Loan Agreement. The revolving loans bear interest at a floating rated based on an adjusted term SOFR (subject to a floor of 1.50 %) for a one-month interest period, plus a margin of 3.00 %. Interest on the Revolving Loans is payable monthly in arrears on the first day of each month and at maturity. The Company is obligated to pay an unused line fee equal to 0.50 % per annum on the unused portion of the available revolving commitments, a fee for failure to maintain a minimum balance under the 2022 Revolving Loan Agreement, and other customary fees for a credit facility of this size and type. The obligations of the Company and any future guarantors under the 2022 Loan Agreements are secured by liens on substantially all of the Company's assets. The 2022 Loan Agreements, as amended, require the Borrowers to comply with (i) a minimum net revenue covenant and (ii) a minimum cash covenant, which requires certain unrestricted cash to be greater than or equal to $ 7.0 million at all times. The 2022 Loan Agreements contain customary affirmative and negative covenants, including covenants limiting the ability of the Company and its subsidiaries, among other things, to incur debt, grant liens, make distributions, enter certain restrictive agreements, pay or modify subordinated debt, dispose of assets, make investments and acquisitions, enter into certain transactions with affiliates, and undergo certain fundamental changes, in each case, subject to limitations and exceptions set forth in the 2022 Loan Agreements. The 2022 Loan Agreements contain customary events of default that include, among other things, certain payment defaults, cross defaults to certain other contracts and indebtedness, covenant defaults, inaccuracy of representations and warranties, bankruptcy and insolvency defaults, judgment defaults, change of control defaults, defaults related to the failure to remain registered with the Securities and Exchange Commission and listed for trading on the Nasdaq Stock Market, and a material adverse change default. Upon the occurrence and during the continuance of an event of default under the 2022 Loan Agreements, the respective administrative agent, if requested by the respective lenders, may, among other things, (i) suspend or terminate commitments, as well as obligations of the relevant administrative agent and lenders, (ii) declare all outstanding obligations under the applicable agreement (including principal and accrued and unpaid interest) immediately due and payable, and (iii) exercise the other rights and remedies provided for under the applicable agreement. The 2022 Loan Agreements provide that, under certain circumstances, a default interest rate will apply on all obligations under such agreement during the existence of an event of default, at a per annum rate equal to 2.0% above the applicable interest rate. The Company bifurcated a derivative liability related to the acceleration clause triggered upon an event of default (contingent put option) under the 2022 Term Loan Agreement. The contingent put option liability is classified as a component of derivative liabilities on the consolidated balance sheet. As of June 30, 2023, the estimated fair value of the contingent put option liability was $ 0.2 million, which was determined by using a risk-neutral valuation model wherein the fair value of the underlying debt facility is estimated, both with and without the presence of the default provisions, holding all other assumptions constant (Note 3). The estimated future principal payments due under the 2022 Loan Agreements were as follows: June 30, 2023 Estimated future principal payments due 2023 $ — 2024 — 2025 4,167 2026 10,000 2027 5,833 Total $ 20,000

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	10. STOCKHOLDERS’ EQUITY On June 18, 2021, the Company completed its IPO of 7,666,664 shares of its common stock, including the exercise in full by the underwriters of their option to purchase up to 999,999 additional shares of common stock, for aggregate gross proceeds of $ 122.7 million. The Company’s common stock began trading on the Nasdaq Global Select Market under the ticker symbol “DNAY” on June 18, 2021. The Company has since changed its ticker symbol to “TBIO” in connection with its name change to Telesis Bio Inc.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2023
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock	11. REDEEMABLE CONVERTIBLE PREFERRED STOCK Redeemable Convertible Preferred Stock Financing On May 31, 2023, the Company executed a Redeemable Convertible Preferred Stock and Warrant Purchase Agreement (the “Agreement”) for the purposes of raising capital in the aggregate amount of up to $ 28.0 million by the means of issuance of Redeemable Convertible Preferred Stock and Warrants. On June 1, 2023, the Company filed a Certificate of Designation of Redeemable Convertible Preferred Stock of Telesis Bio (the “Certificate of Designation”), to set forth the rights, privileges and preferences of the Redeemable Convertible Preferred Stock. On June 5, 2023, the Company issued 280,000 shares of Redeemable Convertible Preferred Stock and 17,771,761 warrants, for a total purchase price of $ 28.0 million, plus an additional 355,435 warrants issued as consideration for advisory services related to the transaction. . Dividends From and after the issue date of the Redeemable Convertible Preferred Stock , cumulative dividends accrue on the Accrued Value (as defined below) of each share of Redeemable Convertible Preferred Stock at the annual rate of 8 %. Dividends on each share of Redeemable Convertible Preferred Stock are cumulative and accrue daily from and after the issue date, but shall compound on a quarterly basis on the last day of each calendar quarter (the “Quarterly Dividend Date”), whether or not earned or declared, and whether or not there are earnings or profits, surplus or other funds or assets of the Company legally available for the payment of dividends. All such dividends compound and shall be added to the Accrued Value on each Quarterly Dividend Date. None of such dividends shall be paid in cash unless such dividends are paid pursuant to liquidation of the Company or a conversion or redemption of the Redeemable Convertible Preferred Stock. In the event that the Board of Directors declares a dividend payable upon the then outstanding shares of common stock (other than a stock dividend on the common stock payable solely in the form of additional shares of common stock), the holders of the Redeemable Convertible Preferred Stock shall be entitled, in addition to any cumulative dividends to which the Redeemable Convertible Preferred Stock may be entitled, to receive (concurrent with the payment of the dividend to the holders of common stock) the amount of dividends per share of Redeemable Convertible Preferred Stock that would be payable on the number of whole shares of the common stock into which each share of such Redeemable Convertible Preferred Stock held by each holder could be converted, such number to be determined as of the record date for the determination of holders of common stock entitled to receive such dividend. “Accrued Value” means, with respect to each share of Redeemable Convertible Preferred Stock, the sum, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Redeemable Convertible Preferred Stock, of (i) $100.00 plus (ii) on each Quarterly Dividend Date, an additional amount equal to the dollar value of any dividends on a share of Redeemable Convertible Preferred Stock which have accrued on any dividend payment date and have not been previously added to such Accrued Value. As of June 30, 2023 , no dividends have been declared or distributed to any stockholders, and the Company has accrued dividends to date totaling $ 0.2 million. Liquidation Preferences In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company (each, a “Liquidation Event”) or Deemed Liquidation Event (as defined below), the holders of shares of Redeemable Convertible Preferred Stock shall be entitled to be paid, with respect to each share of Redeemable Convertible Preferred Stock then outstanding held by the holder, out of the assets of the Company available for distribution to its stockholders, on a preferred basis prior and in preference to any distribution to the holders of any common stock or any other junior stock of the Company, an amount in cash per share of Redeemable Convertible Preferred Stock equal to (i) in the event of a Deemed Liquidation Event occurring prior to the 24-month anniversary of the issue date, the greater of (x) 200 % multiplied by the sum of the Accrued Value plus an amount equal to all accrued or declared and unpaid dividends on the Redeemable Convertible Preferred Stock that have not previously been added to the Accrued Value or (y) such amount per share as would have been payable in respect of the shares of common stock into which such share of Redeemable Convertible Preferred Stock is then convertible, assuming all outstanding shares of Redeemable Convertible Preferred Stock were converted into common stock immediately prior to such Deemed Liquidation Event or (ii) in the event of (A) a Liquidation Event that is not a Deemed Liquidation Event or (B) a Deemed Liquidation Event occurring on or after the 24-month anniversary of the issue date, the greater of (x) the sum of the Accrued Value plus an amount equal to all accrued or declared and unpaid dividends on the Redeemable Convertible Preferred Stock that have not previously been added to the Accrued Value or (y) such amount per share as would have been payable in respect of the shares of common stock into which such share of Redeemable Convertible Preferred Stock is then convertible, assuming all outstanding shares of Redeemable Convertible Preferred Stock were converted into common stock immediately prior to such Liquidation Event or Deemed Liquidation Event, as applicable, (the amount payable pursuant to this sentence is hereinafter referred to as the “Liquidation Amount”). Deemed Liquidation Event means a reorganization, merger or consolidation in which: (A) the Company is a constituent party or (B) a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such reorganization, merger or consolidation, except any such reorganization, merger or consolidation involving the Company or a subsidiary in which the shares of capital stock of the Company outstanding immediately prior to such reorganization, merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such reorganization, merger or consolidation, a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation or (2) if the surviving or resulting corporation is a wholly-owned subsidiary of another corporation immediately following such reorganization, merger or consolidation, the parent corporation of such surviving or resulting corporation. Rights and Preferences At any time when shares of Redeemable Convertible Preferred Stock are outstanding, the Company shall not, either directly or indirectly (including through any subsidiary of the Company) by amendment, merger, consolidation, reclassification, reorganization or otherwise, do any of the following without (in addition to any other vote required by law or the Company’s Certificate of Incorporation) the written consent or affirmative vote of the holders of a majority of the then outstanding shares of Redeemable Convertible Preferred Stock (or, solely with respect to Section (a) , the holders of 75 % of the then outstanding shares of Redeemable Convertible Preferred Stock ), given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, and any such act taken or transaction entered into without such consent or vote shall be null and void ab initio , and of no force or effect: (a) amend, modify or fail to give effect to the rights of the holders of Redeemable Convertible Preferred Stock; (b) increase or decrease the number of authorized shares of Redeemable Convertible Preferred Stock; (c) create or issue any equity securities or securities convertible into equity securities with equal or superior rights, preferences or privileges to those of the Redeemable Convertible Preferred Stock in respect of (i) payment of dividends, or (ii) distribution of assets of the Company upon a Liquidation Event or Deemed Liquidation Event; (d) other than the issuance of shares of common stock on exercise or conversion of securities outstanding on the issue date, issue any shares of common stock or securities convertible into or exercisable (directly or indirectly) for common stock if at such time (or after giving affect to such issuance) the Company does not have sufficient shares of common stock available out of its authorized but unissued stock, for the purpose of effecting the conversion of the Redeemable Convertible Preferred Stock into common stock (assuming that accrued and unpaid dividends at such time include all dividends that would have accrued on the Redeemable Convertible Preferred Stock for a period of five years from the date thereof) and the exercise and conversion of all other securities convertible or exercisable (directly or indirectly) for common stock; (e) declare or pay any dividends or distributions on or make redemptions or repurchases of equity securities, except for repurchases from employees, directors, advisors or consultants upon termination pursuant to contractual call rights; or (f) create any subsidiary that is not majority-owned, either directly or indirectly, by the Company; provided, however, that this restriction shall not apply, in the case of (i) any subsidiary created outside of the United States, solely to the extent that, due to local law or regulatory requirements, the Company is not permitted to legally own such subsidiary or (ii) the creation of any joint venture created in the ordinary course of business for a bona fide business purpose. Voting The holder of each share of Redeemable Convertible Preferred Stock is entitled to one vote for each share of common stock into which such Redeemable Convertible Preferred Stock is convertible on the record date for determining stockholders entitled to vote on such matter. With respect to such vote, such holder has full voting rights and powers equal to the voting rights of the holders of common stock. Conversion Each share of Redeemable Convertible Preferred Stock is convertible, at the option of the holder, at any time and from time to time, into such number of shares of common stock as is determined by dividing the Accrued Value by the Conversion Price in effect at the time of conversion. The Conversion Price is initially equal to $ 2.3633 per share. If at any time following the third anniversary of the issue date, the closing sale price of the Company’s common stock exceeds 250 % of the Conversion Price for 30 consecutive trading days, then the Company has the right to require conversion of the Redeemable Convertible Preferred Stock, in whole or in part, at the then effective conversion rate. Redemption On or after the seventh anniversary of the issue date, (i) each holder of Redeemable Convertible Preferred Stock may require the Company to redeem all of such holder’s shares of Redeemable Convertible Preferred Stock for cash at a redemption price per share equal to the Accrued Value, and (ii) the Company may redeem, in whole or in part on a pro rate basis from all holders, preferred shares for cash at a redemption price per share equal to the Accrued Value. The Company has classified the Redeemable Convertible Preferred Stock as temporary equity as the shares have certain redemption features that are not solely in the control of the Company. The Redeemable Convertible Preferred Stock is not currently redeemable because the deemed liquidation provision is considered a substantive condition that is contingent on the event and it is not currently probable that it will become redeemable. The Redeemable Convertible Preferred Stock is not currently redeemable through the optional redemption provision because it is considered a substantive condition that is contingent on the passage of time. The Company classifies Redeemable Convertible Preferred Stock in accordance with ASC 480, Distinguishing Liabilities from Equity, which requires that contingently redeemable securities be classified outside of permanent stockholders’ equity. Accordingly, the Company has classified all shares of Redeemable Convertible Preferred Stock as mezzanine equity in the accompanying financial statements as of June 30, 2023. Redeemable Convertible Preferred Stock consisted of the following as of June 30, 2023 (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Outstanding Price per Share Net Carrying Value Liquidation Preference Redeemable Convertible Preferred Stock 280,000 280,000 $ 100.00 $ 28,153 $ 28,153 Total Redeemable Convertible Preferred Stock 280,000 280,000 $ 28,153 $ 28,153

Warrants

Warrants	6 Months Ended
	Jun. 30, 2023
Warrants and Rights Note Disclosure [Abstract]
Warrants	12. WARRANTS In connection with the “Agreement” described in Note 11, the Company issued 5,923,921 warrants with a term of two years ("Short-Term Warrants") and 11,847,840 warrants with a term of seven years ("Long-Term Warrants") with the 280,000 shares of Redeemable Convertible Preferred Stock, for a total purchase price of $ 28.0 million. An additional 355,425 warrants with a term of five years were issued as consideration for advisory services related to the transaction, concurrent with the Agreement ("Additional Warrants", and collectively with the Short-Term Warrants and Long-Term Warrants are referred to as the "Warrants"). All of the Warrants entitle the holder to purchase one share of common stock (subject to certain adjustment provisions). Common Stock Warrants On June 5, 2023, the Company issued a total of 5,923,921 Short-Term Warrants to purchase common stock to investors in connection with the Agreement described in Note 11. Each warrant has a strike price of $ 2.5996 per share and has a two-year term from the date of issuance. Each warrant had a grant date fair value of $ 0.20 . The warrants meet the criteria for permanent equity classification. On June 5, 2023, the Company issued a total of 11,847,840 Long-Term Warrants to purchase common stock to investors in connection with the Agreement described in Note 11. Each warrant has a strike price of $ 2.5996 per share and has a seven-year term from the date of issuance. Each warrant had a grant date fair value of $ 0.61 . The warrants meet the criteria for permanent equity classification. On June 5, 2023, the Company issued a total of 355,435 Additional Warrants to purchase common stock as consideration for advisory services in connection with the Agreement described in Note 11. Each warrant has a strike price of $ 2.9541 per share and has a five-year term from the date of issuance. Each warrant had a grant date fair value of $ 0.45 . The warrants meet the criteria for permanent equity classification. As of June 30, 2023, 18,127,196 Warrants were issued and outstanding.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	13. STOCK-BASED COMPENSATION For the three months ended June 30, 2023 and 2022 and the six months ended June 30, 2023 and 2022, the Company recorded stock-based compensation expense of approximately $ 1.0 million, $ 1.1 million, $ 2.2 million, and $ 1.6 million, respectively. No income tax benefit was recognized in the accompanying condensed consolidated statements of ope rations and comprehensive loss for the Company’s equity incentive plan. The Company’s Board of Directors approved the adoption of the SGI-DNA, Inc. 2019 Stock Plan (the 2019 Plan) in March 2019. The 2019 Plan permitted the Company to grant up to 5,544,187 shares for options and restricted stock units of the Company’s common stock. On March 3, 2021, the Company’s Board of Directors and stockholders approved the termination of the 2019 Plan and the adoption of the 2021 Equity Incentive Plan (the 2021 Plan). 6,000,000 shares of common stock were reserved for issuance under the 2021 Plan. In June 2021, the Company established the 2021 Stock Incentive Plan (the 2021 SIP). The 2021 SIP became effective on the effective date of the IPO, at which time the Company ceased granting awards under the 2021 Plan. The 2021 SIP allows the Company’s compensation committee to grant equity-based awards to the Company’s employees, directors and consultants. A total of 3,500,000 shares of common stock were initially reserved for issuance under the 2021 SIP, plus the number of shares (not to exceed 2,459,970 shares) consisting of (i) the shares of common stock that were available for the issuance of awards under the 2021 Plan at the time the 2021 SIP became effective, which ceased to be available for future issuance under the 2021 Plan at such time and (ii) any shares subject to outstanding options or other share awards that were granted under the 2019 Plan and the 2021 Plan that terminate or expire prior to exercise or settlement; are forfeited because of the failure to vest; or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price. In addition, the number of shares reserved and available for issuance under the 2021 SIP automatically increases each January 1, beginning on January 1, 2022 and each January 1 thereafter by the lesser of 15,750,000 shares or 5 % of the outstanding number of shares of common stock on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s board of directors. As of June 30, 2023, the number of shares of common stock reserved for issuance under the 2021 SIP was 2,434,420 . Stock option activity under the 2019 Plan, the 2021 Plan and the 2021 SIP for the six months ended June 30, 2023 is as follows: Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Balances at December 31, 2022 4,488,555 $ 2.11 8.9 $ 252 Options granted 1,650,506 1.66 Options exercised ( 69,158 ) 0.86 Options cancelled ( 314,863 ) 3.89 Balances at June 30, 2023 5,755,040 $ 1.90 8.8 $ 1,517 Vested and expected to vest at June 30, 2023 5,182,906 $ 1.89 8.8 $ 1,325 Exercisable at June 30, 2023 1,415,352 $ 2.48 7.9 $ 513 There were 1,650,506 options granted during the six months ended June 30, 2023. The weighted average grant date calculated fair value of options granted during the six months ended June 30, 2023 was $ 0.79 per share. The calculated value of option grants during the six months ended June 30, 2023 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: Six Months Ended June 30, 2023 Risk free interest rate 4.1 % Expected dividend yield — % Expected term 3.8 years Forfeiture rate 0.7 % Expected volatility 59.4 % The Company has granted restricted stock units with vesting based conditions. Unvested shares of restricted common stock may not be sold or transferred by the holder. They are legally issued and outstanding. These restrictions lapse accordingly to the time-based vesting of each award. A summary of the restricted stock unit activity during the six months ended June 30, 2023 is as follows: Restricted Stock Units Weighted-Average Grant Date Fair Value Unvested at December 31, 2022 272,601 $ 6.41 Granted 229,470 1.50 Vested ( 95,915 ) 5.87 Unvested at June 30, 2023 406,156 $ 3.77 Effective in connection with the IPO, the Company established the 2021 Employee Stock Purchase Plan (the ESPP). The maximum number of shares of common stock that may be issued under the ESPP was initially 350,000 . Additionally, the number of shares reserved and available for issuance under the ESPP automatically increases each January 1, beginning on January 1, 2022 and each January 1 thereafter, by the lesser of (i) 1,050,000 shares of common stock, (ii) 1.03 % of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or (iii) such smaller number of shares of common stock as the Company’s board of directors may designate. As of June 30, 2023, the number of shares of common stock that may be issued under the ESPP is 593,482 . As of June 30, 2023, 346,173 shares of common stock have been issued under the ESPP. The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock options $ 751 $ 916 $ 1,751 $ 1,222 Restricted stock units 266 99 392 131 Employee stock purchase plan 18 103 48 213 Total $ 1,035 $ 1,118 $ 2,191 $ 1,566 The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 160 $ 179 $ 459 $ 256 Sales and marketing 67 130 233 173 General and administrative 808 809 1,499 1,137 Total $ 1,035 $ 1,118 $ 2,191 $ 1,566 As of June 30, 2023, total unrecognized stock-based compensation expense related to unvested stock-based awards was $ 7.4 million, which is expected to be recognized over a weighted average period of 2.5 years.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. COMMITMENTS AND CONTINGENCIES Litigation The Company may become involved in various claims, suits, and legal proceedings from time to time in the ordinary course of its business. The Company accrues a liability when it believes that it is both probable and the amount of loss can be reasonably estimated. While the outcome of such claims, lawsuits or other proceedings cannot be predicted with certainty, management expects that any liability, to the extent not provided for by insurance or otherwise, will not have a material adverse effect on the Company’s condensed consolidated financial position or results of operations. Leases The Company’s non-cancelable lease commitments are described in Note 8.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
NET LOSS PER SHARE	15. NET LOSS PER SHARE Net loss per share Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss $ ( 8,287 ) $ ( 14,831 ) $ ( 19,406 ) $ ( 28,025 ) Less: Redeemable Convertible Preferred Stock Dividends ( 153 ) — ( 153 ) — Net loss attributable to common stockholders $ ( 8,440 ) $ ( 14,831 ) $ ( 19,559 ) $ ( 28,025 ) Denominator: Weighted average common stock outstanding - basic and diluted 29,774,275 29,435,838 29,718,948 29,383,870 Net loss per share attributable to common stockholders - basic and diluted $ ( 0.28 ) $ ( 0.50 ) $ ( 0.66 ) $ ( 0.95 ) The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: June 30, 2023 2022 Stock options to purchase common stock 5,755,040 4,026,366 Restricted stock units that vest into common stock 406,156 236,290 Shares issuable under employee stock purchase plan 106,953 132,070 Warrants to purchase common stock 18,127,196 — Redeemable Convertible Preferred Stock 280,000 — Total 24,675,345 4,394,726

Retirement Plan

Retirement Plan	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
RETIREMENT PLAN	16. RETIREMENT PLAN The Company has a retirement saving plan (the 401(k) Plan) that allows participating employees to defer a portion of their annual compensation on a pretax basis. The Company made no contributions to the 401(k) Plan for the six months ended June 30, 2023 and 2022 .

Collaboration

Collaboration	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration	17. COLLABORATION In December 2021, the Company entered into a Research Collaboration and License Agreement (Pfizer Agreement) with Pfizer Inc. (Pfizer), pursuant to which the Company agreed to collaborate with Pfizer to further develop the Company's novel enzymatic DNA synthesis technology for Pfizer’s use in its research and development of mRNA-based vaccines and biotherapies. The financial terms of the deal include an upfront payment from Pfizer to the Company, along with success-based technical milestone payments that could be earned in the near term. The Company is also eligible to receive additional milestone payments based on the achievement of specified development, regulatory and commercialization goals associated with any products developed from the application of the Company’s technology developed and licensed under the agreement. The Company granted Pfizer a non-exclusive, worldwide license to use the Company’s enzymatic DNA synthesis technology for purposes of researching, developing, manufacturing and commercializing pharmaceutical and biopharmaceutical products and a limited-time option to convert such license to exclusive for specific applications. If Pfizer exercises its option for these application(s) within the applicable period, then the license to Pfizer will become exclusive for products for such application(s); provided that Pfizer may later convert the particular application back to non-exclusive. Under the Pfizer Agreement, Pfizer has made an upfront payment to us of $ 8.0 million and milestone payments of $ 5.0 million. If the Company meets certain additional technical milestones, the Company will be eligible to receive an additional $ 5.0 million in near-term milestone payments associated with the research plan. In addition to the upfront payment and technical milestone payments, Pfizer has agreed to make milestone payments to the Company upon the products meeting certain clinical milestones, with each product (other than exclusive products) being eligible for milestone payments up to $ 20.0 million if it were to meet the applicable clinical milestones and the first exclusive product in each exclusive field being eligible for milestone payments up to $ 55.0 million if it were to meet the applicable clinical milestones. Pfizer has also agreed to pay the Company up to $ 60.0 million in sales milestones for products (other than exclusive products) if aggregate net sales of such products meet certain thresholds and up to $ 180.0 million in sales milestones for exclusive products if aggregate net sales of the exclusive products meet certain thresholds. Provided the Pfizer Agreement remains in place, Pfizer will also pay escalating royalties from a low to mid-fraction of one percent of net sales of all products. Pfizer’s obligations to pay royalties with respect to a product within a country will expire after specific criteria including such product no longer being covered by patent rights licensed to Pfizer by the Company in such country. Royalty payments are subject to reduction after the introduction of a biosimilar product in such country by a third party. The Company assessed the collaboration and license agreement in accordance with ASC 606, Revenue from Contracts with Customers, and concluded that Pfizer is a customer based on the agreement structure. The Company identified a single combined performance obligation under the arrangement for the performance under the research plan, technology transfer between the parties, participation in the Joint Research Committee, research licenses exchanged by the parties and the non-exclusive commercial license. In addition, the Company identified a material right for the option granted to Pfizer to extend the research term by an additional year. The $ 8.0 million upfront payment represents the transaction price at inception. The Company determined that the $ 8.0 million upfront payment represents the entirety of the consideration to be included in the transaction price as of the outset of the arrangement. The potential milestone payments that the Company may have been eligible to receive were initially excluded from the transaction price at the outset of the arrangement because (i) all technical and development milestone payments did not meet the criteria for inclusion using the most-likely amount method and (ii) the Company recognizes as revenue sales-based milestones and royalties when the related sales occur. In the fourth quarter of 2022 the Company achieved its first technical milestone associated with the research plan and recognized $ 2.5 million in revenue associated with the milestone achievement. In the second quarter of 2023, the Company achieved its second technical milestone associated with the research plan and recognized $ 2.5 million in revenue associated with the milestone achievement. As of June 30, 2023 no other milestones or royalties have been deemed likely to be achieved or have been achieved. In accordance with ASC 606, the Company allocated the transaction price, comprising the upfront payment of $ 8.0 million, based on the standalone selling price of the combined performance obligation and the material right. Based on management's analysis, the material right was allocated $ 0.3 million of the transaction price, while the combined performance obligation was allocated $ 7.7 million of the transaction price. The $ 7.7 million of revenue allocated to the combined performance obligation is being recognized using the input method based on time elapsed as compared to the research term of 24 months , and the $ 0.3 million of revenue allocated to the material right was to be recognized over the third year of services performed under the research plan in the event the option to extend the research plan is exercised, or when the option expires in the event the option to extend the research plan was not exercised. During 2022, the option expired unexercised, and the $ 0.3 million was recognized. During the three and six months ended June 30, 2023, the Company recognized $ 3.5 million and $ 4.4 million, respectively, of revenue related to the Pfizer Agreement. As of June 30, 2023, aggregate deferred revenue related to the Pfizer Agreement was $ 1.8 m illion, all of which was classified as current.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC) and in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP), and include the accounts of the Company and its wholly owned subsidiaries after the elimination of all significant intercompany accounts and transactions. Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (ASC) and as amended by Accounting Standards Updates (ASU) of the Financial Accounting Standards Board (FASB).
Principle of Consolidation	The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements as of and for the year ended December 31, 2022, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s condensed consolidated balance sheet as of June 30, 2023, the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2023 and 2022, condensed consolidated statements of stockholders’ equity for the three and six months ended June 30, 2023 and 2022 and the condensed consolidated statements of cash flows for the six months ended June 30, 2023 and 2022. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on March 22, 2023, as amended on May 1, 2023 (the Annual Report). The condensed consolidated balance sheet data as of December 31, 2022 presented for comparative purposes was derived from the Company’s audited consolidated financial statements but does not include all disclosures required by U.S. GAAP and Article 8 of Regulation S-X. The results for the three and six months ended June 30, 2023 and 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2023, any other interim periods, or any future year or period. The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report. Since the date of the audited consolidated financial statements for the year ended December 31, 2022 included in the Annual Report, there have been no changes to its significant accounting policies except as noted below.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods presented. Key estimates in the consolidated financial statements include the Company’s ability to continue as a going concern, revenue recognition, impairment assessment for goodwill and intangible assets, allowance for doubtful accounts, estimated useful lives of property and equipment, valuation of inventory, accrued expenses, valuation of deferred income tax assets, valuation of derivative liabilities, valuation of preferred stock and warrants, share-based compensation, and accrued warranty are subject to significant estimation. Actual results could differ from those estimates. Making estimates requires management to exercise significant judgment and it is reasonably possible that management's estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements could change in the near term due to one of more future confirming events.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current presentation. The Company reclassified an aggregate of $ 0.2 million and $ 0.1 million of field services and technical support costs from the research and development line to the sales and marketing and general administrative lines on the consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2022, respectively. The Company believes these costs are better reflected in sales and marketing. The reclassification had no impact on net loss for the six months ended June 30, 2022.
Restricted Cash	Restricted Cash In accordance with ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, the Company describes the change during the period in the total of cash, cash equivalents and restricted cash, and includes restricted cash with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the condensed consolidated statements of cash flows. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that comprises the total of the same such amounts shown in the condensed consolidated statements of cash flows for all periods presented herein (in thousands): June 30, December 31, Cash and cash equivalents $ 46,608 $ 30,419 Restricted cash 175 175 Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows $ 46,783 $ 30,594
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) (ASU 2016-13). ASU 2016-13 requires measurement and recognition of expected credit losses for financial assets. In April 2019, the FASB issued clarification to ASU 2016-13 within ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This update is effective for entities other than public business entities, including emerging growth companies that elected to defer compliance with new or revised financial accounting standards until a company that is not an issuer is required to comply with such standards, for annual reporting periods beginning after December 15, 2022. The Company adopted this standard on January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company's condensed consolidated financial statements and related disclosures. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The ASU is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2022. Entities should apply the amendments prospectively and early adoption is permitted. The Company adopted this standard on January 1, 2023. The adoption of ASU 2021-08 did not have a material impact on the Company's condensed consolidated financial statements and related disclosures.
Inventory	Inventories include material, labor and overhead and are stated at the lower of cost (first-in and first-out method) or net realizable value

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that comprises the total of the same such amounts shown in the condensed consolidated statements of cash flows for all periods presented herein (in thousands): June 30, December 31, Cash and cash equivalents $ 46,608 $ 30,419 Restricted cash 175 175 Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows $ 46,783 $ 30,594

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize the fair values of the Company’s assets and liabilities on the condensed consolidated balance sheets which comprise of money market funds, commercial paper, U.S. government agencies and the contingent put option liability (in thousands): Fair value measurements as of June 30, 2023 Level 1 Level 2 Level 3 Total Assets Money market funds $ 43,563 $ — $ — $ 43,563 Commercial paper — 747 — 747 Total $ 43,563 $ 747 $ — $ 44,310 Liabilities Contingent put option liability $ — $ — $ 208 $ 208 Total $ — $ — $ 208 $ 208 Fair value measurements as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market funds $ 26,784 $ — $ — $ 26,784 Commercial paper — 1,737 — 1,737 U.S. Government agencies — 11,422 — 11,422 Total $ 26,784 $ 13,159 $ — $ 39,943 Liabilities Contingent put option liability $ — $ — $ 367 $ 367 Total $ — $ — $ 367 $ 367
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a roll-forward of the aggregate fair value of the Company’s derivative liabilities for which fair value is determined using Level 3 inputs (in thousands): Contingent Put Option Liability Fair value at December 31, 2022 $ 367 Change in fair value ( 159 ) Fair value at June 30, 2023 $ 208 Contingent Put Option Liability Fair value at December 31, 2021 $ 108 Change in fair value 4 Fair value at June 30, 2022 $ 112

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Short-Term Investments	The following tables summarize the short-term investments held (in thousands): June 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Commercial paper $ 747 $ — $ — $ 747 Total $ 747 $ — $ — $ 747 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Assets Commercial paper $ 1,737 $ — $ — $ 1,737 U.S. Government agencies 11,425 1 ( 4 ) 11,422 Total $ 13,162 $ 1 $ ( 4 ) $ 13,159

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventory consisted of the following on June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 1,931 $ 1,044 Work in process and sub-assemblies 1,796 647 Finished goods 134 509 Total $ 3,861 $ 2,200

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following on June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Machinery and equipment $ 6,512 $ 5,647 Furniture and fixtures 908 64 Computer hardware and software 1,999 1,531 Leasehold improvements 332 58 Construction in progress 516 1,501 Total 10,267 8,801 Less: Accumulated depreciation and amortization ( 2,710 ) ( 1,940 ) Total property and equipment, net $ 7,557 $ 6,861

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets, Net	Other intangible assets, net consists of the following (in thousands): June 30, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 ( 1,949 ) $ 1,201 Trade name 80 ( 43 ) 37 Customer relationships 420 ( 47 ) 373 Non-competition agreements 30 ( 16 ) 14 Total $ 3,680 $ ( 2,055 ) $ 1,625 December 31, 2022 Gross Carrying Value Accumulated Amortization Net Carrying Value Intellectual property $ 3,150 $ ( 1,725 ) $ 1,425 Trade name 80 ( 30 ) 50 Customer relationships 420 ( 32 ) 388 Non-competition agreements 30 ( 11 ) 19 Total $ 3,680 $ ( 1,798 ) $ 1,882
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table summarizes the estimated future amortization expense of the intangible assets as of June 30, 2023 (in thousands): Years ending December 31: Amortization of Intangible Assets 2023 $ 258 2024 510 2025 478 2026 103 2027 28 Thereafter 248 Total $ 1,625

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Lease, Cost	The components of lease cost under ASC 842 are as follows (in thousands): June 30, 2023 2022 Lease costs Finance lease cost: Amortization of finance lease right-of-use asset $ 14 $ 40 Interest on lease liabilities 1 2 Operating lease costs 2,226 625 Variable lease cost 599 307 Short term lease cost 282 451 Total lease cost $ 3,122 $ 1,425 Supplemental disclosure of cash flow information related to leases are as follows (in thousands): June 30, 2023 2022 Cash paid for amounts included in the measurement of lease Operating cash flows from operating leases $ 866 $ 796 Operating cash flows from finance leases $ 1 $ 2 Financing cash flows from finance leases $ 29 $ 40 The weighted-average remaining lease term and discount rate were as follows: June 30, 2023 2022 Weighted-average remaining lease term Finance leases 2.3 years 0.5 years Operating leases 9.7 years 4.3 years Weighted-average discount rate Finance leases 10.0 % 7.6 % Operating leases 9.7 % 8.5 %
Lessee, Operating Lease and Finance Lease, Liability, Fiscal Year Maturity	The following table summarizes the minimum lease payments of the Company’s operating and finance lease liabilities as of June 30, 2023 (in thousands): Year Ending December 31, Operating Finance 2023 $ 2,131 $ 33 2024 4,306 32 2025 4,435 — 2026 4,568 — 2027 4,659 — Thereafter 26,078 — Total future minimum lease payments 46,177 65 Less: imputed interest ( 16,846 ) ( 6 ) Present value of operating lease liability $ 29,331 $ 59 Less: current portion of lease liability ( 1,521 ) ( 28 ) Non-current portion of lease liability 27,810 31

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 2023 and December 31, 2022, the loans payable on the condensed consolidated balance sheets pertains to the Credit, Security and Guaranty Agreement with MidCap Financial Trust and consists of the following (in thousands): June 30, 2023 December 31, 2022 Principal amount of loans payable $ 20,000 $ 20,000 Less: Current portion of loans payable — — Loans payable, net of current portion 20,000 20,000 Accrued interest 184 172 Final debt payment liability 1,100 900 Debt discount and financing costs, net of accretion ( 1,411 ) ( 1,423 ) Loans payable, net of discount and current portion $ 19,873 $ 19,649
Schedule of Maturities of Long-term Debt	The estimated future principal payments due under the 2022 Loan Agreements were as follows: June 30, 2023 Estimated future principal payments due 2023 $ — 2024 — 2025 4,167 2026 10,000 2027 5,833 Total $ 20,000

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2023
Temporary Equity Disclosure [Abstract]
Summary of Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock consisted of the following as of June 30, 2023 (in thousands, except share data): Redeemable Convertible Preferred Stock Shares Authorized Shares Outstanding Price per Share Net Carrying Value Liquidation Preference Redeemable Convertible Preferred Stock 280,000 280,000 $ 100.00 $ 28,153 $ 28,153 Total Redeemable Convertible Preferred Stock 280,000 280,000 $ 28,153 $ 28,153

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Option, Activity	Stock option activity under the 2019 Plan, the 2021 Plan and the 2021 SIP for the six months ended June 30, 2023 is as follows: Number of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Balances at December 31, 2022 4,488,555 $ 2.11 8.9 $ 252 Options granted 1,650,506 1.66 Options exercised ( 69,158 ) 0.86 Options cancelled ( 314,863 ) 3.89 Balances at June 30, 2023 5,755,040 $ 1.90 8.8 $ 1,517 Vested and expected to vest at June 30, 2023 5,182,906 $ 1.89 8.8 $ 1,325 Exercisable at June 30, 2023 1,415,352 $ 2.48 7.9 $ 513
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The calculated value of option grants during the six months ended June 30, 2023 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: Six Months Ended June 30, 2023 Risk free interest rate 4.1 % Expected dividend yield — % Expected term 3.8 years Forfeiture rate 0.7 % Expected volatility 59.4 %
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of the restricted stock unit activity during the six months ended June 30, 2023 is as follows: Restricted Stock Units Weighted-Average Grant Date Fair Value Unvested at December 31, 2022 272,601 $ 6.41 Granted 229,470 1.50 Vested ( 95,915 ) 5.87 Unvested at June 30, 2023 406,156 $ 3.77
Summary of Share-based Compensation Expense	The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock options $ 751 $ 916 $ 1,751 $ 1,222 Restricted stock units 266 99 392 131 Employee stock purchase plan 18 103 48 213 Total $ 1,035 $ 1,118 $ 2,191 $ 1,566 The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 160 $ 179 $ 459 $ 256 Sales and marketing 67 130 233 173 General and administrative 808 809 1,499 1,137 Total $ 1,035 $ 1,118 $ 2,191 $ 1,566

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss $ ( 8,287 ) $ ( 14,831 ) $ ( 19,406 ) $ ( 28,025 ) Less: Redeemable Convertible Preferred Stock Dividends ( 153 ) — ( 153 ) — Net loss attributable to common stockholders $ ( 8,440 ) $ ( 14,831 ) $ ( 19,559 ) $ ( 28,025 ) Denominator: Weighted average common stock outstanding - basic and diluted 29,774,275 29,435,838 29,718,948 29,383,870 Net loss per share attributable to common stockholders - basic and diluted $ ( 0.28 ) $ ( 0.50 ) $ ( 0.66 ) $ ( 0.95 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company excluded the following potential common shares from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: June 30, 2023 2022 Stock options to purchase common stock 5,755,040 4,026,366 Restricted stock units that vest into common stock 406,156 236,290 Shares issuable under employee stock purchase plan 106,953 132,070 Warrants to purchase common stock 18,127,196 — Redeemable Convertible Preferred Stock 280,000 — Total 24,675,345 4,394,726

Organization Operations and Liq

Organization Operations and Liquidity (Details) $ in Millions	Nov. 18, 2021 USD ($)
Eton
Business Acquisition [Line Items]
Payments to acquire businesses	$ 14.1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Accounting Policies [Abstract]
Aggregate reclassified amount	$ 0.2	$ 0.1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 46,608	$ 30,419
Restricted cash	175	175
Total cash, cash equivalents, and restricted cash as shown in the consolidated statements of cash flows	$ 46,783	$ 30,594	$ 22,282	$ 82,806

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Fair Value	$ 747	$ 13,159
Commercial paper
Assets
Fair Value	747	1,737
U.S. Government agencies
Assets
Fair Value		11,422
Fair Value, Recurring
Assets
Total	44,310	39,943
Liabilities
Total	208	367
Fair Value, Recurring | Commercial paper
Assets
Fair Value	747	1,737
Fair Value, Recurring | U.S. Government agencies
Assets
Fair Value		11,422
Fair Value, Recurring | Contingent put option liability
Liabilities
Derivative liability	208	367
Fair Value, Recurring | Money market funds
Assets
Derivative asset	43,563	26,784
Fair Value, Recurring | Level 1
Assets
Total	43,563	26,784
Liabilities
Total	0	0
Fair Value, Recurring | Level 1 | Commercial paper
Assets
Fair Value	0	0
Fair Value, Recurring | Level 1 | U.S. Government agencies
Assets
Fair Value		0
Fair Value, Recurring | Level 1 | Contingent put option liability
Liabilities
Derivative liability	0	0
Fair Value, Recurring | Level 1 | Money market funds
Assets
Derivative asset	43,563	26,784
Fair Value, Recurring | Level 2
Assets
Total	747	13,159
Liabilities
Total	0	0
Fair Value, Recurring | Level 2 | Commercial paper
Assets
Fair Value	747	1,737
Fair Value, Recurring | Level 2 | U.S. Government agencies
Assets
Fair Value		11,422
Fair Value, Recurring | Level 2 | Contingent put option liability
Liabilities
Derivative liability	0	0
Fair Value, Recurring | Level 2 | Money market funds
Assets
Derivative asset	0	0
Fair Value, Recurring | Level 3
Assets
Total	0	0
Liabilities
Total	208	367
Fair Value, Recurring | Level 3 | Commercial paper
Assets
Fair Value	0	0
Fair Value, Recurring | Level 3 | U.S. Government agencies
Assets
Fair Value		0
Fair Value, Recurring | Level 3 | Contingent put option liability
Liabilities
Derivative liability	208	367
Fair Value, Recurring | Level 3 | Money market funds
Assets
Derivative asset	$ 0	$ 0

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value of derivative liabilities	$ 19	$ (27)	$ 159	$ (4)
Measurement Input, Cost to Sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt, measurement input	0.1343		0.1343		0.1258
Measurement Input, Default Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt, measurement input	0.51		0.51		0.63

Fair Value Measurement - Roll f

Fair Value Measurement - Roll forward of Level 3 Financial Instruments (Details) - Contingent put option liability - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 367	$ 108
Change in fair value	(159)	4
Ending balance	$ 208	$ 112

Investments - Summary of Short-

Investments - Summary of Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 747	$ 13,162
Unrealized Gains		1
Unrealized Losses		(4)
Fair Value	747	13,159
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	747	1,737
Fair Value	$ 747	1,737
U.S. Government agencies
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost		11,425
Unrealized Gains		1
Unrealized Losses		(4)
Fair Value		$ 11,422

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Debt Securities, Available-for-Sale [Abstract]
Impairment losses on investments	$ 0	$ 0

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 1,931	$ 1,044
Work in process and sub-assemblies	1,796	647
Finished goods	134	509
Total	$ 3,861	$ 2,200

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total	$ 10,267	$ 8,801
Less: Accumulated depreciation and amortization	(2,710)	(1,940)
Total property and equipment, net	7,557	6,861
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	6,512	5,647
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total	908	64
Computer hardware and software
Property, Plant and Equipment [Line Items]
Total	1,999	1,531
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total	332	58
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 516	$ 1,501

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 400	$ 200	$ 780	$ 449

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Nov. 18, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Mar. 08, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 14,886,000		$ 14,886,000		$ 14,886,000	$ 3,500,000
Goodwill, impairment		0	$ 0	0	$ 0
Intangible assets		3,680,000		3,680,000		3,680,000
Amortization expense		100,000	$ 100,000	257,000	$ 257,000
Eton
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 11,400,000
Technology
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	7 years
Other intangible assets acquired	$ 3,200,000
Trade Name
Finite-Lived Intangible Assets [Line Items]
Intangible assets		80,000		80,000		80,000
Trade Name | Eton
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	3 years
Other intangible assets acquired	$ 100,000
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets		420,000		420,000		420,000
Customer Relationships | Eton
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	15 years
Other intangible assets acquired	$ 400,000
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets		$ 30,000		$ 30,000		$ 30,000
Noncompete Agreements | Eton
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life (in years)	3 years
Other intangible assets acquired	$ 30,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,680	$ 3,680
Accumulated Amortization	(2,055)	(1,798)
Net Carrying Value	1,625	1,882
Intellectual Property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,150	3,150
Accumulated Amortization	(1,949)	(1,725)
Net Carrying Value	1,201	1,425
Trade Name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	80	80
Accumulated Amortization	(43)	(30)
Net Carrying Value	37	50
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	420	420
Accumulated Amortization	(47)	(32)
Net Carrying Value	373	388
Non-competition Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	30	30
Accumulated Amortization	(16)	(11)
Net Carrying Value	$ 14	$ 19

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 258
2024	510
2025	478
2026	103
2027	28
Thereafter	248
Net Carrying Value	$ 1,625	$ 1,882

Leases - Narrative (Details)

Leases - Narrative (Details)	1 Months Ended
	Sep. 30, 2021 USD ($)	Jun. 30, 2023 Lease
Lessee, Lease, Description [Line Items]
Number of outstanding leases | Lease		5
10431 Wateridge Circle
Lessee, Lease, Description [Line Items]
Renovation price per unit (in USD per square foot)	$ 185
Renovation price	12,300,000
Additional allowance, up to (in USD per square foot)	10
Additional allowance, up to	700,000
Annual Lease Payments	$ 3,900,000
Annual rent increase (as a percent)	3%
Options to extend	one
Extension (in years)	5 years
Term of contract (in years)		10 years 3 months
Minimum
Lessee, Lease, Description [Line Items]
Term of leases		1 month
Maximum
Lessee, Lease, Description [Line Items]
Term of leases		10 years
Maximum | Short Term Lease
Lessee, Lease, Description [Line Items]
Term of leases		1 year

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Finance lease cost:
Amortization of finance lease right-of-use asset	$ 14	$ 40
Interest on lease liabilities	1	2
Operating lease costs	2,226	625
Variable lease cost	599	307
Short term lease cost	282	451
Total lease cost	$ 3,122	$ 1,425

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 866	$ 796
Operating cash flows from finance leases	1	2
Financing cash flows from finance leases	$ 29	$ 40

Leases - Weighted-Average Lease

Leases - Weighted-Average Lease Terms and Interest Rates (Details)	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Finance leases, weighted average remaining lease term (in years)	2 years 3 months 18 days	6 months
Operating leases, weighted average remaining lease term (in years)	9 years 8 months 12 days	4 years 3 months 18 days
Finance leases, weighted average discount rate (as a percent)	10%	7.60%
Operating leases, weighted average discount rate (as a percent)	9.70%	8.50%

Leases - Minimum Future Lease P

Leases - Minimum Future Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating
2023	$ 2,131
2024	4,306
2025	4,659
2026	4,435
2027	4,568
Thereafter	26,078
Total future minimum lease payments	46,177
Less: imputed interest	(16,846)
Present value of operating lease liability	29,331
Less: current portion of lease liability	(1,521)	$ (578)
Non-current portion of lease liability	27,810	1,111
Finance
2023	33
2024	32
2025	0
2026	0
2027	0
Thereafter	0
Total future minimum lease payments	65
Less: imputed interest	(6)
Present value of operating lease liability	59
Less: current portion of lease liability	(28)	(59)
Non-current portion of lease liability	$ 31	$ 30

Notes Payable - Schedule of Lon

Notes Payable - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Principal amount of loans payable	$ 20,000	$ 20,000
Loans payable, net of current portion	20,000	20,000
Accrued interest	184	172
Final debt payment liability	1,100	900
Debt discount and financing costs, net of accretion	(1,411)	(1,423)
Loans payable, net of discount and current portion	$ 19,873	$ 19,649

Notes Payable - Narrative (Deta

Notes Payable - Narrative (Details) - USD ($)	Aug. 09, 2022	Jun. 30, 2023	Jun. 05, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Final debt payment		$ 1,100,000		$ 900,000
Warrants liability		$ 200,000	$ 28,000,000
Line of Credit | Secured Term Loan Facility | 2021 Loan Agreement
Debt Instrument [Line Items]
Effective interest rate (as a percent)		13.49%
Credit, Security and Guaranty Agreement | 2022 Loan Agreements
Debt Instrument [Line Items]
Debt instrument, interest rate terms	The 2022 Loan Agreements provide that, under certain circumstances, a default interest rate will apply on all obligations under such agreement during the existence of an event of default, at a per annum rate equal to 2.0% above the applicable interest rate.
Credit, Security and Guaranty Agreement | Secured Term Loan Facility | SOFR
Debt Instrument [Line Items]
Stated percentage rate (as a percent)	6.75%
Credit, Security and Guaranty Agreement | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Basis spread on variable rate	3.50%
Exit fee percentage	5.50%
Credit, Security and Guaranty Agreement | Secured Term Loan Facility | 2022 Loan Agreements | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%
Credit, Security and Guaranty Agreement | Revolving Credit Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000
Debt instrument, maturity date	Aug. 01, 2027
Basis spread on variable rate	1.50%
Stated percentage rate (as a percent)	3%
Loans outstanding		$ 0
Unused line fee percentage	0.50%
Credit, Security and Guaranty Agreement | Minimum | 2022 Loan Agreements
Debt Instrument [Line Items]
Debt instrument, cash covenant	$ 7,000,000
Credit, Security and Guaranty Agreement | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount	30,000,000
Credit, Security and Guaranty Agreement | Tranche 1 Term Loan | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount	20,000,000
Credit, Security and Guaranty Agreement | Tranche 2 Term Loan | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount	5,000,000
Credit, Security and Guaranty Agreement | Tranche 3 Term Loan | Maximum | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Aggregate principal amount	$ 5,000,000
Credit, Security and Guaranty Agreement | Prepayments Made During Year One | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Prepayment premium percentage	3%
Credit, Security and Guaranty Agreement | Prepayments Made During Year Two | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Prepayment premium percentage	2%
Credit, Security and Guaranty Agreement | Prepayments Made During Year Three | Secured Term Loan Facility | 2022 Loan Agreements
Debt Instrument [Line Items]
Prepayment premium percentage	1%

Notes Payable - Schedule of Mat

Notes Payable - Schedule of Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2023	$ 0
2024	0
2025	4,167
2026	10,000
2027	5,833
Principal amount of loans payable	$ 20,000	$ 20,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ in Millions	Jun. 18, 2021 USD ($) shares
IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares sold in initial public offering (in shares)	7,666,664
Aggregate gross proceeds | $	$ 122.7
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Number of shares sold in initial public offering (in shares)	999,999

Redeemable Convertible Prefer_3

Redeemable Convertible Preferred Stock - Narrative (Details)		6 Months Ended
	May 31, 2023 USD ($)	Jun. 30, 2023 USD ($) TradingDay $ / shares shares	Jun. 05, 2023 USD ($) shares
Temporary Equity [Line Items]
Preferred stock, shares authorized (in shares) | shares		280,000
Redeemable convertible preferred stock, shares issued | shares			280,000
Number of warrants issued | shares		18,127,196	17,771,761
Total purchase price | $		$ 200,000	$ 28,000,000
Annual dividend rate		8%
Description of preferred stock dividend payment rate variable		“Accrued Value” means, with respect to each share of Redeemable Convertible Preferred Stock, the sum, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Redeemable Convertible Preferred Stock, of (i) $100.00 plus (ii) on each Quarterly Dividend Date, an additional amount equal to the dollar value of any dividends on a share of Redeemable Convertible Preferred Stock which have accrued on any dividend payment date and have not been previously added to such Accrued Value.
Dividends declared and distributed to stockholders | $		$ 0
Preferred stock rights and preference ratio		75%
Conversion price per share | $ / shares		$ 2.3633
Number of consecutive trading days for conversion price | TradingDay		30
Preferred stock conversion description		Each share of Redeemable Convertible Preferred Stock is convertible, at the option of the holder, at any time and from time to time, into such number of shares of common stock as is determined by dividing the Accrued Value by the Conversion Price in effect at the time of conversion. The Conversion Price is initially equal to $2.3633 per share. If at any time following the third anniversary of the issue date, the closing sale price of the Company’s common stock exceeds 250% of the Conversion Price for 30 consecutive trading days, then the Company has the right to require conversion of the Redeemable Convertible Preferred Stock, in whole or in part, at the then effective conversion rate.
Preferred stock, voting rights		The holder of each share of Redeemable Convertible Preferred Stock is entitled to one vote for each share of common stock into which such Redeemable Convertible Preferred Stock is convertible on the record date for determining stockholders entitled to vote on such matter. With respect to such vote, such holder has full voting rights and powers equal to the voting rights of the holders of common stock.
Accrued dividends | $		$ 200,000
Five Year Term Warrants
Temporary Equity [Line Items]
Number of warrants issued | shares			355,435
Minimum
Temporary Equity [Line Items]
Preferred stock liquidation preference ratio		200%
Preferred stock convertible conversion ratio		2.50
Redeemable Convertible Preferred Stock and Warrant Purchase Agreement
Temporary Equity [Line Items]
Aggregate capital raised for issuance of preferred stock converted into common stock | $	$ 28,000,000

Redeemable Convertible Prefer_4

Redeemable Convertible Preferred Stock - Summary of Redeemable Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares Authorized	280,000
Redeemable convertible preferred stock, Shares Outstanding	280,000
Redeemable Convertible Preferred Stock, Net Carrying Value	$ 28,153		$ 0
Redeemable Convertible Preferred Stock, Liquidation Preference	$ 28,153
Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares Authorized	280,000
Redeemable convertible preferred stock, Shares Outstanding	280,000	0	0
Redeemable Convertible Preferred Stock, Price per Share	$ 100
Redeemable Convertible Preferred Stock, Net Carrying Value	$ 28,153	$ 0
Redeemable Convertible Preferred Stock, Liquidation Preference	$ 28,153		$ 0

Warrants - Narrative (Details)

Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2023	Jun. 05, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Number of warrants issued	18,127,196	17,771,761
Warrant outstanding	18,127,196
Redeemable convertible preferred stock, preferred stock, shares issued (in shares)		280,000
Common stock, shares outstanding (in shares)	29,920,502		29,647,091
Total purchase price	$ 0.2	$ 28
Short Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued		5,923,921
Warrant term		2 years
Long Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued		11,847,840
Warrant term		7 years
Additional Warrants
Class of Warrant or Right [Line Items]
Additional warrants issued		355,425
Warrant term		5 years
Warrants
Class of Warrant or Right [Line Items]
Common stock, shares outstanding (in shares)		1
Two Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued		5,923,921
Warrant strike price		$ 2.5996
Warrant term		2 years
Warrant grant date fair value		$ 0.20
Seven Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued		11,847,840
Warrant strike price		$ 2.5996
Warrant term		7 years
Warrant grant date fair value		$ 0.61
Five Year Term Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued		355,435
Warrant strike price		$ 2.9541
Warrant term		5 years
Warrant grant date fair value		$ 0.45

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 18, 2021	Jun. 30, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 03, 2021	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit					$ 0
Options granted (in shares)					1,650,506
Weighted average grant date fair value (in USD per share)					$ 0.79
Unrecognized compensation expense			$ 7,400,000		$ 7,400,000
Period for recognition (in years)					2 years 6 months
Stock-based compensation expense			$ 1,035,000	$ 1,118,000	$ 2,191,000	$ 1,566,000
2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)								5,544,187
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)							6,000,000
2021 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)		3,500,000	2,434,420		2,434,420
Additional shares allowed under plan (in shares)		15,750,000
Percentage of outstanding shares, maximum		5%
2021 Stock Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)		2,459,970
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	350,000		593,482		593,482
Additional shares allowed under plan (in shares)	1,050,000
Percentage of outstanding shares, maximum	1.03%
Common stock issued under ESPP (in shares)					346,173
Stock-based compensation expense			$ 18,000	$ 103,000	$ 48,000	$ 213,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of options
Outstanding at beginning of the period (in shares) | shares	4,488,555
Options granted (in shares) | shares	1,650,506
Options exercised (in shares) | shares	(69,158)
Options cancelled (in shares) | shares	(314,863)
Outstanding at end of the period (in shares) | shares	5,755,040	4,488,555
Vested and expected to vest (in shares) | shares	5,182,906
Exercisable (in shares) | shares	1,415,352
Weighted average exercise price
Outstanding at beginning of period (in USD per share) | $ / shares	$ 2.11
Options granted (in USD per share) | $ / shares	1.66
Options exercised (in USD per share) | $ / shares	0.86
Options cancelled (in USD per share) | $ / shares	3.89
Outstanding at end of period (in USD per share) | $ / shares	1.90	$ 2.11
Vested and expected to vest (in USD per share) | $ / shares	1.89
Exercisable (in USD per share) | $ / shares	$ 2.48
Weighted average remaining contractual term (in years)
Outstanding (in years)	8 years 9 months 18 days	8 years 10 months 24 days
Vested and expected to vest (in years)	8 years 9 months 18 days
Exercisable (in years)	7 years 10 months 24 days
Aggregate intrinsic value (in thousands)
Outstanding | $	$ 1,517	$ 252
Vested and expected to vest | $	1,325
Exercisable | $	$ 513

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Assumptions (Details)	6 Months Ended
	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	4.10%
Expected term (in years)	3 years 9 months 18 days
Forfeiture rate	0.70%
Expected volatility	59.40%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Units
Beginning balance (in shares) | shares	272,601
Granted (in shares) | shares	229,470
Vested | shares	(95,915)
Ending balance (in shares) | shares	406,156
Weighted-Average Grant Date Fair Value
Beginning balance (USD per share) | $ / shares	$ 6.41
Granted (USD per share) | $ / shares	1.50
Vested (USD per share) | $ / shares	5.87
Ending balance (USD per share) | $ / shares	$ 3.77

Stock-Based Compensation - Clas

Stock-Based Compensation - Classification of Expense Related to Award Type Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 1,035	$ 1,118	$ 2,191	$ 1,566
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	751	916	1,751	1,222
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	266	99	392	131
Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 18	$ 103	$ 48	$ 213

Stock-Based Compensation - Cl_2

Stock-Based Compensation - Classification of Expense Related to Expense Categories (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 1,035	$ 1,118	$ 2,191	$ 1,566
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	160	179	459	256
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	67	130	233	173
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 808	$ 809	$ 1,499	$ 1,137

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (8,287)	$ (11,119)	$ (14,831)	$ (13,194)	$ (19,406)	$ (28,025)
Less: Redeemable Convertible Preferred Stock Dividends	(153)				(153)
Net loss attributable to common stockholders	$ (8,440)		$ (14,831)		$ (19,559)	$ (28,025)
Denominator:
Weighted average common stock outstanding - basic (in shares)	29,774,275		29,435,838		29,718,948	29,383,870
Weighted average common stock outstanding - diluted (in shares)	29,774,275		29,435,838		29,718,948	29,383,870
Net loss per share attributable to common stockholders - basic (in USD per share)	$ (0.28)		$ (0.50)		$ (0.66)	$ (0.95)
Net loss per share attributable to common stockholders - diluted (in USD per share)	$ (0.28)		$ (0.50)		$ (0.66)	$ (0.95)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	24,675,345	4,394,726
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	5,755,040	4,026,366
Restricted stock units that vest into common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	406,156	236,290
Shares issuable under employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	106,953	132,070
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	18,127,196
Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	280,000

Retirement Plan (Details)

Retirement Plan (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Contribution costs	$ 0	$ 0

Collaboration (Details)

Collaboration (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	$ 8,652		$ 5,655	$ 14,968	$ 11,291
License
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue	3,500			4,400
Pfizer
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment	1,800			1,800
Pfizer | License
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment						$ 8,000
Additional amounts to be received						5,000
Milestone payments to be received						5,000
Pfizer | Clinical | Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received						20,000
Pfizer | Clinical | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received						55,000
Pfizer | Sales Milestones | Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received						60,000
Pfizer | Sales Milestones | Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received						$ 180,000
Royalty percentage						1%
Pfizer | Research
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from the milestone achievement	$ 2,500	$ 2,500
Pfizer | Material Rights
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue recognized				$ 300

Collaboration (Details 1)

Collaboration (Details 1) - Pfizer [Member] - Research - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 $ in Millions	Dec. 31, 2021 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments to be received	$ 7.7
Expected timing of revenue satisfaction (in years)	24 months