Accelerate Diagnostics (AXDX) 10-Q 10 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 03, 2019
Document And Entity Information
Entity Registrant Name	Accelerate Diagnostics, Inc.
Entity Central Index Key	0000727207
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		54,459,889
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Entity Emerging Growth Company	false
Entity Small Business	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 75,309	$ 66,260
Investments	75,550	100,218
Trade accounts receivable	1,950	1,860
Inventory	8,599	7,746
Prepaid expenses	1,880	980
Other current assets	712	576
Total current assets	164,000	177,640
Property and equipment, net	7,242	7,303
Right of use assets	487
Intellectual property, net	108	114
Other non-current assets	348	208
Total assets	172,185	185,265
Current liabilities:
Accounts payable	2,505	1,322
Accrued liabilities	3,236	4,962
Accrued interest	191	1,262
Deferred revenue and income	291	217
Current operating lease liability	244
Total current liabilities	6,467	7,763
Noncurrent operating lease liability	243
Other long term liabilities	46	53
Convertible notes	122,461	120,074
Total liabilities	129,217	127,890
Commitments and contingencies
Stockholders’ equity:
Preferred shares	0	0
Common stock	54	54
Contributed capital	440,154	432,885
Treasury Stock	(45,067)	(45,067)
Accumulated deficit	(352,069)	(330,348)
Accumulated other comprehensive loss	(104)	(149)
Total stockholders’ equity	42,968	57,375
Total liabilities and stockholders’ equity	$ 172,185	$ 185,265

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,750	$ 801
Cost of sales	916	492
Gross profit	834	309
Costs and expenses:
Research and development	6,933	6,782
Sales, general and administrative	12,723	14,353
Total costs and expenses	19,656	21,135
Loss from operations	(18,822)	(20,826)
Other income (expense):
Interest expense	(3,459)	(158)
Foreign currency exchange (loss) gain	(59)	55
Interest income	842	301
Other expense (net)	(2)	0
Total other (expense) income, net	(2,678)	198
Net loss before income taxes	(21,500)	(20,628)
Provision for income taxes	(221)	(184)
Net loss	$ (21,721)	$ (20,812)
Basic and diluted net loss per share (usd per share)	$ (0.40)	$ (0.37)
Weighted average shares outstanding (shares)	54,337	55,640
Other comprehensive loss:
Net loss	$ (21,721)	$ (20,812)
Net unrealized gain (loss) on available-for-sale investments	121	(53)
Foreign currency translation adjustment	(76)	112
Comprehensive loss	$ (21,676)	$ (20,753)

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred Stock, par value (usd per share)	$ 0.001	$ 0.001
Preferred Stock, shares authorized (shares)	5,000,000	5,000,000
Preferred Stock, shares outstanding (shares)	0	0
Common Stock, par value (usd per share)	$ 0.001	$ 0.001
Common Stock, shares authorized (shares)	75,000,000	75,000,000
Common Stock, shares issued (shares)	54,454,347	54,231,909
Common Stock, shares outstanding (shares)	54,454,347	54,231,909

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (21,721)	$ (20,812)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of property and equipment and operating lease assets	626	544
Amortization of investment discount	(180)	19
Equity-based compensation	3,397	5,602
Amortization of debt discount and issuance costs	2,387	158
Realized gain on sale of investments	(2)	0
Loss on disposal of property and equipment	329	11
(Increase) decrease in assets:
Accounts receivable	(90)	881
Inventory	(1,567)	(1,917)
Prepaid expense and other	(1,041)	(989)
Increase (decrease) in liabilities:
Accounts payable	1,151	701
Accrued liabilities, and other	(1,790)	733
Accrued interest	(1,071)	0
Deferred revenue and income	74	(1,003)
Deferred compensation	(7)	4
Net cash used in operating activities	(19,505)	(16,068)
Cash flows from investing activities:
Purchases of equipment	(37)	(1,294)
Purchase of marketable securities	(12,826)	(9,356)
Proceeds from sales of marketable securities	9,000	3,000
Maturities of marketable securities	28,662	20,125
Net cash provided by investing activities	24,799	12,475
Cash flows from financing activities:
Proceeds from issuance of common stock	139	134
Proceeds from exercise of options	3,677	1,112
Proceeds from issuance of convertible note	0	150,000
Prepayment of forward stock repurchase transaction	0	(45,069)
Payment of debt issuance costs	0	(4,330)
Net cash provided by financing activities	3,816	101,847
Effect of exchange rate on cash	(61)	80
Increase in cash and cash equivalents	9,049	98,334
Cash and cash equivalents, beginning of period	66,260	28,513
Cash and cash equivalents, end of period	75,309	126,847
Non-cash investing activities:
Transfer of instruments from inventory to property and equipment	769	0
Supplemental cash flow information:
Interest paid	2,144	0
Income taxes paid	$ 2	$ 0

CONDENSED CONSOLIDATEDSTATEMENT

CONDENSED CONSOLIDATEDSTATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock	Contributed Capital	Accumulated Deficit	Treasury stock	Accumulated Other Comprehensive Income (Loss)
Beginning Balance, amount at Dec. 31, 2017	$ 118,704	$ 56	$ 360,620	$ (241,972)	$ 0	$ 0
Beginning Balance (shares) at Dec. 31, 2017		55,674,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,812)			(20,812)
Exercise of options	1,112		1,112
Exercise of options (shares)		128,000
Issuance of common stock under employee purchase plan	134		134
Issuance of common stock under employee purchase plan (shares)		7,000
Unrealized loss on available-for-sale securities	(53)					(53)
Foreign currency translation adjustment	112					112
Repurchase of common stock under Prepaid Forward contract	(45,069)	$ (2)			(45,067)
Repurchase of common stock under Prepaid Forward contract (shares)		(1,859,000)
Issuance of convertible note	46,614		46,614
Equity-based compensation	5,782		5,782
Ending Balance, amount at Mar. 31, 2018	106,475	$ 54	414,262	(262,833)	(45,067)	59
Ending Balance (shares) at Mar. 31, 2018		53,950,000
Beginning Balance, amount at Dec. 31, 2018	57,375	$ 54	432,885	(330,348)	(45,067)	(149)
Beginning Balance (shares) at Dec. 31, 2018		54,232,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(21,721)			(21,721)
Exercise of options	$ 3,677		3,677
Exercise of options (shares)	208,044	215,000
Issuance of common stock under employee purchase plan	$ 139		139
Issuance of common stock under employee purchase plan (shares)		7,000
Unrealized loss on available-for-sale securities	121					121
Foreign currency translation adjustment	(76)					(76)
Equity-based compensation	3,453		3,453
Ending Balance, amount at Mar. 31, 2019	$ 42,968	$ 54	$ 440,154	$ (352,069)	$ (45,067)	$ (104)
Ending Balance (shares) at Mar. 31, 2019		54,454,000

Organization and Nature of Busi

Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies	NOTE 1. ORGANIZATION AND NATURE OF BUSINESS; BASIS OF PRESENTATION; PRINCIPLES OF CONSOLIDATION; SIGNIFICANT ACCOUNTING POLICIES Accelerate Diagnostics, Inc. (“we” or “us” or “our” or “Accelerate” or the “Company”) is an in vitro diagnostics company dedicated to providing solutions that improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018 , as filed with the SEC on March 1, 2019. The condensed consolidated balance sheet as of December 31, 2018 included herein was derived from the audited financial statements as of that date, but does not include all disclosures such as notes required by U.S. GAAP. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods presented, but are not necessarily indicative of the results of operations to be anticipated for the entire year ending December 31, 2019 , or any future period. All amounts are rounded to the nearest thousand dollars unless otherwise indicated. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after elimination of intercompany transactions and balances. Use of Estimates The preparation of the Company’s condensed consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to accounts receivable, inventory, property and equipment, accrued liabilities, warranty liabilities, tax valuation accounts and equity–based compensation. Actual results could differ materially from those estimates. Estimated Fair Value of Financial Instruments The Company follows ASC 820 , Fair Value Measurement, which has defined fair value and requires the Company to establish a framework for measuring and disclosing fair value. The framework requires the valuation of assets and liabilities subject to fair value measurements using a three tiered approach and fair value measurement be classified and disclosed in one of the following three categories: • Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; • Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). The carrying amounts of financial instruments such as cash and cash equivalents, trade accounts receivable, prepaid expenses, other current assets, accounts payable, accrued liabilities, and other current liabilities approximate the related fair values due to the short-term maturities of these instruments. The estimated fair value of the Company’s long-term debt represents a Level 2 measurement. See Note 10, Convertible Notes for further detail on the Company’s long-term debt. Cash and Cash Equivalents All highly liquid investments with an original maturity of three months or less at time of purchase are considered to be cash equivalents. Cash and cash equivalents include overnight repurchase agreement accounts and other investments. As part of our cash management process, excess operating cash is invested in overnight repurchase agreements with our bank. Repurchase agreements and other investments classified as cash and cash equivalents are not deposits and are not insured by the U.S. Government, the FDIC or any other government agency and involve investment risk including possible loss of principal. We believe, however, that the market risk arising from holding these financial instruments is minimal. Investments The Company invests in various investments which are primarily held in the custody of major financial institutions. Investments consist of certificates of deposit, U.S. government and agency securities, commercial paper, asset-backed securities, and corporate notes and bonds. Management classifies its investments as available-for-sale investments and records these investments in the condensed consolidated balance sheet at fair value. The Company considers all available-for-sale securities, including those with maturity dates beyond 12 months, as available to support current operational liquidity needs. Unrealized gains or losses for available-for-sale securities are included in accumulated other comprehensive income (loss), a component of stockholders’ equity. The Company classifies its investments as current based on the nature of the investments and their availability for use in current operations. The Company assesses whether an other-than-temporary impairment loss has occurred due to declines in fair value or other market conditions when an investment’s fair value remains less than its cost for more than twelve months. This assessment includes a determination of whether the investment is expected to recover in value and whether the Company has the intent and ability to hold the investment until the anticipated recovery in value occurs. When an investment is identified as having an other-than-temporary impairment loss, we adjust the cost basis of the investment down to fair value resulting in a realized loss. The new cost basis is not changed for subsequent recoveries in fair value and temporary future increases or decreases in fair value are included in other comprehensive income (loss) . Inventory Inventory is stated at the lower of cost or net realizable value. The Company determines the cost of inventory using the first-in, first out method. The Company estimates the recoverability of inventory by reference to internal estimates of future demands and product life cycles, including expiration. The Company periodically analyzes its inventory levels to identify inventory that may expire prior to expected sale or has a cost basis in excess of its estimated net realizable value and records a charge to expense for such inventory as appropriate. Accounts Receivable Accounts receivable consist of amounts due to the Company for sales to customers and are based on what we expect to collect in exchange for goods and services. Receivables are written off if reasonable collection efforts prove unsuccessful. The Company provides for allowances on a specific account basis by recording adjustments to revenue, if necessary. No allowances were recorded at March 31, 2019 and December 31, 2018 . Property and Equipment Property and equipment are recorded at cost. Maintenance and repairs are charged to expense as incurred and expenditures for major improvements are capitalized. Gains and losses from retirement or replacement are included in costs and expenses. Depreciation of property and equipment is computed using the straight-line method over the estimated useful life of the assets, ranging from one year to seven years . Leasehold improvements are depreciated over the remaining life of the lease or the life of the asset, whichever is less. Property and equipment includes Accelerate Pheno™ systems (also referred to as instruments) used for sales demonstrations, instruments under rental agreements and instruments used for research and development. Depreciation expense for instruments used for sales demonstrations is recorded as a component of sales, general and administrative expense. Depreciation expense for instruments placed at customer sites pursuant to reagent rental agreements is recorded as a component of cost of sales. Depreciation expense for instruments used in our laboratory and research is recorded as a component of research and development expense. The Company retains title to these instruments and depreciates them over five years . Long-lived Assets Long-lived assets and certain identifiable intangibles to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company continuously evaluates the recoverability of its long-lived assets based on estimated future cash flows from and the estimated fair value of such long-lived assets, and provides for impairment if such undiscounted cash flows or the estimated fair value are insufficient to recover the carrying amount of the long-lived asset. Warranty Reserve Instruments are typically sold with a one year limited warranty, while kits and accessories are typically sold with a sixty days limited warranty. Accordingly, a provision for the estimated cost of the limited warranty repair is recorded at the time revenue is recognized. Our estimated warranty provision is based on our estimate of future repair events and the related estimated cost of repairs. The Company periodically assesses the adequacy of the warranty reserve and adjusts the amount as necessary. The expense incurred for these provisions is included in cost of sales on the condensed consolidated statements of operations and comprehensive loss. Warranty reserve activity for the three months ended March 31, 2019 and 2018 is as follows (in thousands): Three Months Ended March 31, March 31, 2019 2018 Beginning balance $ 215 $ 192 Provisions 70 121 Warranty incurred (79 ) (137 ) Ending balance $ 206 $ 176 Convertible Notes The Company issued convertible notes in 2018 that had conversion prices which resulted in an embedded beneficial conversion feature. The intrinsic value of the beneficial conversion feature was recorded as a debt discount with the corresponding amount recorded to contributed capital. The debt discount is amortized to interest expense over the life of the convertible notes using the effective interest method. Revenue Recognition The Company recognizes revenue when control of the promised good or service is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Sales taxes are excluded from revenues. We determine revenue recognition through the following steps: • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations • Recognition of revenue as we satisfy a performance obligation Product revenue is derived from the sale or rental of our instruments and sales of related consumable products. When an instrument is sold, revenue is generally recognized upon installation of the unit consistent with contract terms, which do not include a right of return. When a consumable product is sold, revenue is generally recognized upon shipment. Invoices are generally issued when revenue is recognized. Service revenue is derived from the sale of extended service agreements which are generally non-cancellable. This revenue is recognized on a straight-line basis over the contract term beginning on the effective date of the contract because the Company is standing ready to provide services. Invoices are generally issued annually and coincide with the beginning of individual service terms. Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine relative standalone selling prices based on the price charged to customers for each individual performance obligation. Our payment terms vary by the type and location of our customers and the product or services offered and range between 30 and 150 days . Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. The Company has determined these costs would have an amortization period of less than one year and has elected to recognize them as an expense when incurred. Contract asset opening and closing balances were immaterial for the three months ended March 31, 2019 . Cost of Sales Cost of sales includes cost of materials, direct labor, equity-based compensation, facility and other manufacturing overhead costs for consumable tests and instruments sold to customers. Cost of sales for instruments also includes depreciation on revenue generating instruments that have been placed with our customers under a reagent rental agreement. Cost of sales includes repair and maintenance cost for instruments covered by a service agreement or instruments covered by a reagent rental agreement. Cost of sales also includes warranty related expenses. Shipping and Handling Shipping and handling costs billed to customers are included as a component of revenue. The corresponding expense incurred with third party carriers is included as a component of sales, general and administrative costs on the condensed consolidated statements of operations and comprehensive loss. Leases The Company accounts for leases in accordance with ASC 842, Leases , which was adopted on January 1, 2019. We determine if an arrangement is or contains a lease and the type of lease at inception. The Company classifies leases as finance leases (lessee) or sales-type leases (lessor) when there is either a transfer of ownership of the underlying asset by the end of the lease term, the lease contains an option to purchase the asset that we are reasonably certain will be exercised, the lease term is for the major part of the remaining economic life of the asset, the present value of the lease payments and any residual value guarantee equals or substantially exceeds all the fair value of the asset, or the asset is of such a specialized nature that it will have no alternative use to the lessor at the end of the lease term. Payments contingent on future events (i.e. based on usage) are considered variable and excluded from lease payments for the purposes of classification and initial measurement. Several of our leases include options to renew or extend the term upon mutual agreement of the parties and others include one-year extensions exercisable by the lessee. None of our leases contain residual value guarantees, restrictions, or covenants. To determine whether a contract contains a lease, the Company uses its judgment in assessing whether the lessor retains a material amount of economic benefit from an underlying asset, whether explicitly or implicitly identified, which party holds control over the direction and use of the asset, and whether any substantive substitution rights over the asset exist. Lessee Operating leases are included in right-of-use (“ROU”) assets and operating lease liabilities within our condensed consolidated balance sheets. These assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and their related liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Typically, we use our incremental borrowing rate based on the information available at commencement in determining the present value of lease payments. We use the implicit rate when readily determinable. ROU assets are net of lease payments made and exclude lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term, which may include options to extend or terminate the lease when it is reasonably certain that we will exercise the option. As of adoption of ASC 842 and as of March 31, 2019 , the Company was not party to finance lease arrangements. Our leases consist primarily of leased office, factory, and laboratory space in the United States and office space and automobiles in Europe, have between two and five -year terms, and typically contain penalizing, early-termination provisions. Lessor The Company leases instruments to customers under “reagent rental” agreements, under which the customer agrees to purchase consumable products over a stated term, typically five years or less, for a volume-based price that includes an embedded rental for the instruments. When collectibility is probable, that amount is recognized as income at lease commencement for sales-type leases and on a straight-line basis over the term for operating leases, which typically include a termination without cause or penalty provision given a short notice period. Consideration is allocated between lease and non-lease components based on stand-alone selling price in accordance with ASC 606, Revenue from Contracts with Customers. Net investment in sales-type leases are included within our condensed consolidated balance sheets as a component of other current assets and other non-current assets, which include the present value of lease payments not yet received and the present value of the residual asset, which is determined using the information available at commencement, including the lease term and estimated useful life and expected fair value of the instrument. Equity-Based Compensation The Company may award stock options, restricted stock units (“RSUs”), performance-based options and other equity-based instruments to its employees, directors and consultants. Compensation cost related to equity-based instruments is based on the fair value of the instrument on the grant date, and is recognized over the requisite service period on a straight-line basis over the vesting period for each tranche (an accelerated attribution method) except for performance-based options. Performance-based stock options vest based on the achievement of performance targets. Compensation costs associated with performance-based option awards are recognized over the requisite service period based on probability of achievement. Performance-based stock options require management to make assumptions regarding the likelihood of achieving performance targets. The Company estimates the fair value of service based and performance based stock option awards, including modifications of stock option awards, using the Black-Scholes option pricing model. This model derives the fair value of stock options based on certain assumptions related to expected stock price volatility, expected option life, risk-free interest rate and dividend yield. • Volatility: The expected volatility is based on the historical volatility of the Company's stock price over the most recent period commensurate with the expected term of the stock option award. • Expected term: The estimated expected term for employee awards is based on the calculation published by the SEC in SAB110 for use when there is not a sufficient history of employee exercise patterns. For consultant awards, the estimated expected term is the same as the life of the award. • Risk-free interest rate: The risk-free interest rate is based on published U.S. Treasury rates for a term commensurate with the expected term. • Dividend yield: The dividend yield is estimated as zero as the Company has not paid dividends in the past and does not have any plans to pay any dividends in the foreseeable future. The Company records the fair value of RSUs or stock grants based on published closing market price on the day before the grant date. The Company accounts for forfeitures as they occur rather than on an estimated basis. Deferred Tax Assets Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in the accompanying balance sheets. The change in deferred tax assets and liabilities for the period represents the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws in deferred tax assets and liabilities are reflected as an adjustment to the tax provision or benefit in the period of enactment. The Company follows the provisions of ASC 740, Income Taxes , to account for any uncertainty in income taxes with respect to the accounting for all tax positions taken (or expected to be taken) on any income tax return. This guidance applies to all open tax periods in all tax jurisdictions in which the Company is required to file an income tax return. Under U.S. GAAP, in order to recognize an uncertain tax benefit the taxpayer must be more likely than not certain of sustaining the position, and the measurement of the benefit is calculated as the largest amount that is more likely than not to be realized upon resolution of the position. Interest and penalties, if any, would be recorded within tax expense. Foreign Currency Translation and Foreign Currency Transactions Adjustments resulting from translating foreign functional currency financial statements into U.S. Dollars are included in the foreign currency translation adjustment, a component of accumulated other comprehensive income (loss). The Company has assets and liabilities, including receivables and payables, which are denominated in currencies other than their functional currency. These balance sheet items are subject to re-measurement, the impact of which is recorded in foreign currency exchange gain and loss, within the condensed consolidated statement of operations and comprehensive loss. Earnings Per Share Basic earnings (loss) per share includes no dilution and is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Potentially dilutive common shares consist of shares issuable from stock options and unvested RSUs. Potentially dilutive common shares would also include common shares that would be outstanding if notes convertible at the balance sheet date were converted. Diluted earnings are not presented when the effect of adding such additional common shares is antidilutive. Earnings per share are restated when certain transactions or events, including rights offerings determined to have bonus elements have occurred.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	NOTE 2. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Standards that were adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02 “Leases,” which together with subsequent amendments is included in ASC 842. ASC 842 requires a lessee to recognize a liability to make lease payments and an asset with respect to its right to use the underlying asset for the lease term. ASC 842 also addresses accounting and reporting by lessors, which is not significantly different from current accounting and reporting, and further provides for qualitative and quantitative disclosures. We adopted ASC 842 on January 1, 2019 using the optional transition method allowed by ASU 2018-11. This optional transition method allowed the Company to apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. For contracts where we are the lessee, we recorded lease liabilities and right of use assets for contracts in effect on January 1, 2019 based on the facts and circumstances as of that date. The Company elected not to reassess whether any expired or existing contracts are or contain leases, not to reassess the lease classification for any expired or existing leases, not to reassess initial direct costs for any existing leases, and not to separate the lease components from the non-lease components for all classes of underlying assets. We recognized right of use assets and lessee lease liabilities of $0.6 million with respect to operating leases where we are the lessee. We also implemented internal controls and key system functionality to enable the preparation of financial information on adoption. The adoption of ASC 842 did not have a material effect on our consolidated financial position, results of operations or cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718); Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 simplifies the accounting for share-based payments made to nonemployees so the accounting for such payments is substantially the same as those made to employees. Under this ASU, share-based awards to nonemployees will be measured at fair value on the grant date of the awards, entities will need to assess the probability of satisfying performance conditions if any are present, and awards will continue to be classified according to ASC 718 upon vesting, which eliminates the need to reassess classification upon vesting, consistent with awards granted to employees. The Company adopted ASU 2018-07 on January 1, 2019 , which did not have an effect on our consolidated financial statements as all share-based awards granted to nonemployees are fully vested. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220); Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI). ASU 2018-02 allows a reclassification from accumulated other comprehensive income to retained earnings for tax effects resulting from the Tax Act that the FASB refers to as having been stranded in AOCI. The Company adopted ASU 2018-02 on January 1, 2019 , with no impact to our consolidated financial statements as no amounts were reclassified from accumulated other comprehensive income to retained earnings for tax effects resulting from the Tax Act. In March 2017, the FASB issued ASU 2017-08, Receivable - Nonrefundable Fees and Other Costs (Topic 310-20); Premium Amortization on Purchased Callable Debt Securities. ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendment requires premiums to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2017-08 on January 1, 2019 , with no impact to the consolidated financial statements as we do not carry callable securities held at a premium. Standards not yet adopted In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820); Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements for fair value measurements. This ASU is effective for us on January 1, 2020, with early adoption permitted. We are currently assessing the impact this will have on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments. ASU 2019-04 and ASU 2018-19 were issued which amended the standard. ASU 2016-13 amends the guidance on measuring credit losses on financial assets (including trade accounts receivable and available for sale debt securities) held at amortized cost. Currently, an “incurred loss” methodology is used for recognizing credit losses which delays recognition until it is probable a loss has been incurred. The amendment requires assets valued at amortized cost to be presented at the net amount expected to be collected using an allowance for credit losses. Reversal of credit losses on available for sale debt securities will be recorded in the current period net income. This ASU is effective for us on January 1, 2020, with early adoption permitted. We do not anticipate this will have a significant impact on our consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The following tables represent the financial instruments measured at fair value on a recurring basis in the financial statements of the Company and the valuation approach applied to each class of financial instruments at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 Quoted Prices Significant Significant Total Assets: Cash and cash equivalents: Money market funds $ 47,788 $ — $ — $ 47,788 Commercial paper — 5,182 — 5,182 Corporate notes and bonds — 1,227 — 1,227 Total cash and cash equivalents $ 47,788 $ 6,409 $ — $ 54,197 Investments: Certificates of deposit — 8,809 — 8,809 U.S. Treasury securities 25,387 — — 25,387 U.S. Agency securities — 6,501 — 6,501 Commercial paper — 8,463 — 8,463 Asset-backed securities — 4,391 — 4,391 Corporate notes and bonds — 21,999 — 21,999 Total investments 25,387 50,163 — 75,550 Total assets measured at fair value $ 73,175 $ 56,572 $ — $ 129,747 December 31, 2018 Quoted Prices Significant Significant Total Assets: Cash and cash equivalents: Money market funds $ 38,444 $ — $ — $ 38,444 Commercial paper — 1,493 — 1,493 Total cash and cash equivalents 38,444 1,493 — 39,937 Investments: Certificates of deposit — 10,787 — 10,787 U.S. Treasury securities 22,120 — — 22,120 U.S. Agency securities — 7,980 — 7,980 Commercial paper — 17,025 — 17,025 Asset-backed securities — 11,998 — 11,998 Corporate notes and bonds — 30,308 — 30,308 Total investments 22,120 78,098 — 100,218 Total assets measured at fair value $ 60,564 $ 79,591 $ — $ 140,155 Highly liquid investments with an original maturity of three months or less at time of purchase are included in cash and cash equivalents on the condensed consolidated balance sheet. Level 1 assets are priced using quoted prices in active markets for identical assets which include money market funds and U.S. Treasury securities as these specific assets are liquid. Level 2 available-for-sale securities are priced using quoted market prices for similar instruments or nonbinding market prices that are corroborated by observable market data. The Company uses inputs such as actual trade data, benchmark yields, broker/dealer quotes, and other similar data, which are obtained from quoted market prices, independent pricing vendors, or other sources, to determine the ultimate fair value of these assets and liabilities. The Company uses such pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of its investment portfolio and has not made, during the periods presented, any material adjustments to such inputs. There were no transfers between levels during the three months ended March 31, 2019 . On March 27, 2018 , the Company issued $150.0 million aggregate principal amount of 2.50% Convertible Senior Notes due 2023 (“Notes”). In connection with the offering of the Notes, the Company granted the initial purchasers of the Notes a 13 -day option to purchase up to an additional $22.5 million aggregate principal amount of the Notes on the same terms and conditions. On April 4, 2018 the option was partially exercised, which resulted in $21.5 million of additional proceeds, for total proceeds of $171.5 million , as described in Note 10, Convertible Notes . At March 31, 2019 and December 31, 2018 , the respective fair value of the Notes was $141.5 million and $121.4 million . The fair value of the Notes is highly correlated to the Company’s stock price and as a result, significant changes to the Company’s stock price will have a significant impact on the calculated fair value. The fair value of the Notes are classified as Level 2 within the fair value hierarchy.

Concentration of Credit Risk

Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments and accounts receivable, including receivables from major customers. The Company has financial institutions for banking operations that hold 10% or more of the Company’s cash and cash equivalents. As of March 31, 2019 , two of the Company's financial institutions held 47% and 46% of the Company’s cash and cash equivalents, respectively. As of December 31, 2018 , two of the Company's financial institutions held 46% and 43% of the Company’s cash and cash equivalents, respectively. The Company grants credit to domestic and international customers. Exposure to losses on accounts receivable is principally dependent on each client's financial position. The Company had one customer that accounted for 17% of the Company’s net accounts receivable balance as of March 31, 2019 , and one customer that accounted for 10% of the Company's net accounts receivable balance as of December 31, 2018 . Customers who represented 10% or more of the Company’s total revenue for the three months ended March 31, 2019 and 2018 were as follows: Three Months Ended March 31, 2019 2018 Company A 19% 14% Company B * 26% Company C * 12% Company D * 11% * Less than 10% for the period indicated

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	NOTE 5. INVESTMENTS The following tables summarize the Company’s available-for-sale investments at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 8,817 $ 9 $ (17 ) $ 8,809 U.S. Treasury securities 25,401 8 (22 ) 25,387 U.S. Agency securities 6,521 — (20 ) 6,501 Commercial paper 8,463 — — 8,463 Asset-backed securities 4,390 1 — 4,391 Corporate notes and bonds 22,008 4 (13 ) 21,999 Total $ 75,600 $ 22 $ (72 ) $ 75,550 December 31, 2018 Amortized Gross Gross Fair Value Certificates of deposit $ 10,787 $ — $ — $ 10,787 U.S. Treasury securities 22,185 1 (66 ) 22,120 U.S. Agency securities 8,024 1 (45 ) 7,980 Commercial paper 17,025 — — 17,025 Asset-backed securities 12,007 — (9 ) 11,998 Corporate notes and bonds 30,361 — (53 ) 30,308 Total $ 100,389 $ 2 $ (173 ) $ 100,218 The following table summarizes the maturities of the Company’s available-for-sale securities at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Amortized Fair Value Amortized Fair Value Due in less than 1 year $ 68,462 $ 68,394 $ 83,030 $ 82,893 Due in 1-3 years 7,138 7,156 17,359 17,325 Total $ 75,600 $ 75,550 $ 100,389 $ 100,218 Proceeds from sales of marketable securities (including principal paydowns) for the three months ended March 31, 2019 and 2018 were $9.0 million and $3.0 million , respectively. The Company determines gains and losses of marketable securities based on specific identification of the securities sold. There were no material realized gains from sales of marketable securities for the three months ended March 31, 2019 and 2018 . No material balances were reclassified out of accumulated other comprehensive income (loss) for the three months ended March 31, 2019 and 2018 . The Company monitors investments for other-than-temporary impairment. It was determined that unrealized gains and losses as of March 31, 2019 and December 31, 2018 are temporary in nature because the change in market value for those securities has resulted from fluctuating interest rates rather than a deterioration of the credit worthiness of the issuers. The Company does not intend to sell investments and it is more likely than not that we will not be required to sell investments before recovering the amortized cost.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory	NOTE 6. INVENTORY Inventories consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Raw materials $ 5,080 $ 4,064 Work in process 735 495 Finished goods 2,784 3,187 Inventory $ 8,599 $ 7,746

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 7. PROPERTY AND EQUIPMENT Property and equipment consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Computer equipment $ 2,733 $ 2,700 Technical equipment 3,949 3,868 Facilities 4,031 4,037 Instruments 5,663 5,318 Capital projects in progress 38 91 Total property and equipment $ 16,414 $ 16,014 Accumulated depreciation (9,172 ) (8,711 ) Property and equipment, net $ 7,242 $ 7,303 Depreciation expense for the three months ended March 31, 2019 and 2018 was $0.6 million and $0.5 million , respectively. The underlying gross assets under operating leases where the Company is the lessor is $0.7 million at March 31, 2019 . The underlying accumulated depreciation under operating leases were the Company is the lessor is $0.1 million at March 31, 2019 .

License Agreements and Grants

License Agreements and Grants	3 Months Ended
	Mar. 31, 2019
Research and Development [Abstract]
License Agreements and Grants	NOTE 8. LICENSE AGREEMENTS AND GRANTS National Institute of Health Grant In February 2015, the National Institute of Health awarded Denver Health and the Company a five -year, $5.0 million grant to develop a fast and reliable identification and categorical susceptibility test for carbepenem-resistant Enterobacteriaceae directly from whole blood. The cumulative amount awarded to date under these subawards is $1.3 million . The amount invoiced for each of the three months ended March 31, 2019 and 2018 was $0.1 million . Arizona Commerce Authority In August 2012, the Company entered into a Grant Agreement (the “Grant Agreement”) with the Arizona Commerce Authority, an agency of the State of Arizona (the “Authority”), pursuant to which the Authority provided certain state and county sponsored incentives for the Company relocating its corporate headquarters to, and expanding its business within, the State of Arizona. Pursuant to the Grant Agreement, the Authority provided a total grant in the amount of $1.0 million , which was recognized in January 2018 as an offset to expense after the achievement of all grant requirements.

Deferred Revenue, Income and Re

Deferred Revenue, Income and Remaining Performance Obligations	3 Months Ended
	Mar. 31, 2019
Deferred Revenue Disclosure [Abstract]
Deferred Revenue, Income and Remaining Performance Obligations	NOTE 9. DEFERRED REVENUE, INCOME AND REMAINING PERFORMANCE OBLIGATIONS Deferred revenue consists of amounts received for products or services not yet delivered or earned. Deferred income consists of amounts received for commitments not yet fulfilled. If we anticipate that the revenue or income will not be earned within the following twelve months, the amount is reported as long-term deferred income. A summary of the balances as of March 31, 2019 and December 31, 2018 follows (in thousands): March 31, December 31, 2019 2018 Products and services not yet delivered $ 291 $ 217 We recognized $37,000 of revenues that were included in the beginning contract liabilities balances during each of the three months ended March 31, 2019 and 2018 . No material amount of revenue recognized during the period was from performance obligations satisfied in prior periods. Transaction Price Allocated to Remaining Performance Obligations As of March 31, 2019 , $ 1.9 million of revenue is expected to be recognized from remaining performance obligations. This balance primarily relates to executed service contracts that begin as warranty periods expire. These service contracts typically provide for four-year terms and revenue is recognized on a straight-line basis. The balance also includes product shipments for reagent rental, sales-type lease agreements. The agreements have between two and four year terms and revenue is recognized as product is shipped, typically in a straight-line pattern. The Company elects not to disclose the value of unsatisfied performance obligations for (i) contracts with an expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.

Convertible Notes

Convertible Notes	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Convertible Notes	NOTE 10. CONVERTIBLE NOTES On March 27, 2018 , the Company issued $150.0 million aggregate principal amount of 2.50% Senior Convertible Notes due 2023. In connection with the offering of the Notes, the Company granted the initial purchasers of the Notes a 13 -day option to purchase up to an additional $22.5 million aggregate principal amount of the Notes on the same terms and conditions. On April 4, 2018 the option was partially exercised, which resulted in $21.5 million of additional proceeds, for total proceeds of $171.5 million . The Notes are the Company's senior unsecured obligations and mature on March 15, 2023 (the “Maturity Date”), unless earlier repurchased or converted into shares of common stock under certain circumstances described below. The Notes are convertible into shares of the Company’s common stock, can be repurchased for cash, or a combination thereof, at the Company’s election, at an initial conversion rate of 32.3428 shares of common stock per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately $30.92 per share of common stock, subject to adjustment. The Company will pay interest on the Notes semi-annually in arrears on March 15 and September 15 of each year. The $171.5 million of proceeds received from the issuance of the Notes were allocated between long-term debt (the “liability component”) of $116.6 million and contributed capital (the “equity component”) of $54.9 million . The fair value of the liability component was measured using rates determined for similar debt instruments without a conversion feature. The carrying amount of the equity component, representing the conversion option, was determined by deducting the fair value of the liability component from the aggregate face value of the Notes. The liability component will be accreted up to the face value of the Notes of $171.5 million , which will result in additional non-cash interest expense being recognized through the Maturity Date. The equity component will not be remeasured as long as it continues to meet the conditions for equity classification. The Company incurred approximately $5.0 million of issuance costs related to the issuance of the Notes, of which $3.4 million and $1.6 million were recorded to long-term debt and contributed capital, respectively. The $3.4 million of issuance costs recorded as long-term debt on the condensed consolidated balance sheet are being amortized over the five -year contractual term of the Notes using the effective interest method. The effective interest rate on the Notes, including accretion of the Notes to par and debt issuance cost amortization, is 11.52% . The Notes include customary terms and covenants, including certain events of default upon which the Notes may be due and payable immediately. Holders have the option to convert the Notes in multiples of $1,000 principal amount at any time prior to December 15, 2022, but only in the following circumstances: • if the Company’s stock price exceeds 130% of the conversion price for 20 of the last 30 trading days of any calendar quarter after June 30, 2018; • during the 5 business day period after any 5 consecutive trading day period in which the Notes’ trading price is less than 98% of the product of the common stock price times the conversion rate; or • the occurrence of certain corporate events, such as a change of control, merger or liquidation. At any time on or after December 15, 2022, a holder may convert its Notes in multiples of $1,000 principal amount. Holders of the Notes who convert their Notes in connection with a make-whole fundamental change (as defined in the Indenture pursuant to which the Notes were issued) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, in the event of a fundamental change or event of default prior to the Maturity Date, holders will, subject to certain conditions, have the right, at their option, to require the Company to repurchase for cash all or part of the Notes at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the repurchase date. Convertible notes consisted of the following as of March 31, 2019 and December 31, 2018 follows (in thousands): March 31, December 31, 2019 2018 Outstanding principal $ 171,500 $ 171,500 Unamortized debt discount (46,182 ) (48,430 ) Unamortized debt issuance (2,857 ) (2,996 ) Net carrying amount of the liability component 122,461 120,074 The Company recorded $1.1 million and $0.1 million for contractual coupon interest for the three months ended March 31, 2019 and 2018 , respectively. The Company also recorded $0.1 million and no material amounts for amortization of debt issuance costs for the three months ended March 31, 2019 and 2018 , respectively, and $2.2 million and $0.1 million for amortization of the debt discount for the three months ended March 31, 2019 and 2018 , respectively. As of March 31, 2019 , no Notes were convertible pursuant to their terms. In connection with the debt issuance, the Company entered into a prepaid forward stock repurchase transaction (“Prepaid Forward”) with a financial institution (“Forward Counterparty”). Pursuant to the Prepaid Forward, the Company used approximately $45.1 million of the net proceeds from its issuance of the Notes to fund the Prepaid Forward. The aggregate number of shares of the Company’s common stock underlying the Prepaid Forward was approximately 1,858,500 . The expiration date for the Prepaid Forward is March 15, 2023, although it may be settled earlier in whole or in part. Upon settlement of the Prepaid Forward, at expiration or upon any early settlement, the Forward Counterparty will deliver to the Company the number of shares of common stock underlying the Prepaid Forward or the portion thereof being settled early. The shares purchased under the Prepaid Forward are treated as treasury stock and not outstanding for purposes of the calculation of basic and diluted earnings per share, but will remain outstanding for corporate law purposes, including for purposes of any future stockholders’ votes, until the Forward Counterparty delivers the shares underlying the Prepaid Forward to the Company. The Company’s Prepaid Forward hedge transaction exposes the Company to credit risk to the extent that its counterparty may be unable to meet the terms of the transaction. The Company mitigates this risk by limiting its counterparty to a major financial institution.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 11. EARNINGS PER SHARE Basic net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted average common shares outstanding during the period. Basic and diluted net loss per share are the same because all outstanding common stock equivalents have been excluded, as they are anti-dilutive due to the Company’s losses. The following potentially issuable common shares were not included in the computation of diluted net loss per share because they would have an anti-dilutive effect for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Shares issuable upon the release of restricted stock awards 30 16 Shares issuable upon exercise of stock options 9,160 8,084 9,190 8,100 Potentially dilutive common shares would also include common shares that would be outstanding if Notes convertible at the balance sheet date were converted. As discussed in Note 10, Convertible Notes , the Company issued $171.5 million of Notes due 2023. The Notes are convertible into shares of the Company’s common stock, can be repurchased for cash, or a combination thereof, at the Company’s election, at an initial conversion rate of 32.3428 shares of common stock per $1,000 principal amount of the Notes. As of March 31, 2019 , no Notes were convertible pursuant to their terms. The number of shares issuable upon conversion of the Notes is 5.5 million shares. In connection with the Notes, the Company entered into a prepaid forward stock repurchase transaction. The aggregate number of shares of the Company’s common stock underlying the Prepaid Forward was approximately 1,858,500 . The shares purchased under the Prepaid Forward are treated as treasury stock and not outstanding for purposes of the calculation of basic and diluted earnings per share, but will remain outstanding for corporate law purposes, including for purposes of any future stockholders’ votes, until the Forward Counterparty delivers the shares underlying the Prepaid Forward to the Company.

Employee Equity-Based Compensat

Employee Equity-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Equity-Based Compensation	NOTE 12. EMPLOYEE EQUITY-BASED COMPENSATION The following table summarizes option activity under all plans during the three months ended March 31, 2019 : Number of Shares Weighted Average Exercise Price per Share Options Outstanding January 1, 2019 8,090,636 $ 12.22 Granted 1,468,949 11.66 Forfeited (169,423 ) 21.05 Exercised (208,044 ) 17.68 Expired (22,576 ) 23.27 Options Outstanding March 31, 2019 9,159,542 $ 11.81 The table below summarizes the resulting weighted average inputs used to calculate the estimated fair value of options awarded during the periods shown below: Three Months Ended March 31, March 31, 2019 2018 Expected term (in years) 6.17 6.11 Volatility 62 % 68 % Expected dividends — — Risk free interest rates 2.59 % 2.69 % Weighted average fair value $ 6.90 $ 16.25 The following table shows summary information for outstanding options and options that are exercisable (vested) as of March 31, 2019 : Options Outstanding Options Exercisable Number of options 9,159,542 5,987,089 Weighted average remaining contractual term (in years) 6.08 4.63 Weighted average exercise price $ 11.81 $ 8.75 Weighted average fair value $ 7.91 $ 5.95 Aggregate intrinsic value (in thousands) $ 92,541 $ 76,978 The following table summarizes RSU and restricted stock award activity during the three months ended March 31, 2019 : Number of Shares Weighted Average Grant Date Fair Value per Share Outstanding January 1, 2019 76,000 $ 18.70 Granted 11,000 20.32 Forfeited (50,000 ) 20.80 Vested/released (7,000 ) 19.47 Outstanding March 31, 2019 30,000 15.62 Equity-based compensation is summarized below (in thousands): Three Months Ended March 31, March 31, 2019 2018 Cost of sales $ 55 $ 46 Research and development 1,527 1,612 Sales, general and administrative 1,815 3,944 Equity-based compensation expense $ 3,397 $ 5,602 During the three months ended March 31, 2019 and 2018 , $0.1 million and $0.2 million , respectively, of share-based compensation cost was capitalized to inventory or inventory transfered to property and equipment (also referred to as instruments). As of March 31, 2019 , unrecognized equity-based compensation expense related to unvested stock options and unvested RSUs was $22.5 million and $0.4 million , respectively. This is expected to be recognized over the years 2019 through 2024 . Included in the above-noted stock option grants and stock compensation expense are performance-based stock options which vest only upon the achievement of certain targets. Performance-based options are generally granted at-the-money, contingently vest over a period of 1 to 2 years, depending on the nature of the performance goal, and have contractual lives of 10 years . These options were valued in the same manner as the time-based options, with the assumption that performance goals will be achieved. The inputs for expected volatility, expected dividends, and risk-free rate used in estimating those options’ fair value are the same as the time-based options issued under the plan. The expected term for performance-based options granted in 2018 is 5 to 6 years. However, the Company only recognizes stock compensation expense to the extent that the targets are determined to be probable of being achieved, which triggers the vesting of the performance options. In 2018 , the Company granted 225,000 performance based-options to certain employees. The Company recognized $0.1 million of stock compensation expense for the three months ended March 31, 2019 for performance-based stock options.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13. INCOME TAXES For the three months ended March 31, 2019 , the Company recorded a provision for income taxes of $0.2 million , which primarily relates to profitable foreign jurisdictions without any net operating loss carryforwards. The Company’s tax expense for the three months ended March 31, 2019 differs from the tax expense computed by applying the U.S. statutory tax rate to its year-to-date pre-tax loss of $21.5 million , as no tax benefits were recorded for tax losses generated in the U.S. and other foreign jurisdictions. At March 31, 2019 , the Company had deferred tax assets primarily related to U.S. federal and state tax loss carryforwards and a deferred tax liability related to amortization of the convertible notes. The Company provided a valuation allowance against its net deferred tax assets as future realization of such assets is not more likely than not to occur. We account for uncertain tax positions pursuant to the recognition and measurement criteria under ASC 740, Income Taxes . For the three months ended March 31, 2019 , we did not note any significant changes to our uncertain tax positions. We do not anticipate significant changes to uncertain tax position within the next 12 months.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments	NOTE 14. COMMITMENTS Clinical Trial & Study Agreements The Company has entered into master agreements with clinical trial and study sites in which we typically pay a set amount for start-up costs and then pay for work performed. These agreements typically indemnify the clinical trial sites from any and all losses arising from third party claims as a result of the Company's negligence, willful misconduct or misrepresentation. The expenses for start-up costs and work performed for these trials and studies is recorded as research and development or sales, general and administrative expenses on the Company's condensed consolidated statements of operations and comprehensive loss. No commitments were recorded in connection with indemnify these sites for losses.

Leases (Notes)

Leases (Notes)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lesses	NOTE 15. LEASES The following presents supplemental information related to our leases in which we are the lessee for the three months ended March 31, 2019 (in thousands except lease term and discount rate): Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 82 Right-of-use assets obtained in exchange for lease obligations Operating leases $ — Lease Cost Operating leases $ 82 Short-term leases (including leases with a term of one month or less) $ 295 Weighted average remaining lease term (years) Operating leases 2.3 years Weighted average discount rate (%) Operating leases 6.9 % Total rent expense including common area charges was $342,000 for the three months ended March 31, 2018. The following presents maturities of operating lease liabilities in which we are the lessee as of March 31, 2019 (in thousands): Remainder of 2019 $ 195 2020 174 2021 116 2022 44 2023 — Thereafter — Total lease payments 529 Less imputed interest (42 ) Total $ 487 The net investment in sales-type leases, where we are the lessor, is a component of other current assets and other non-current assets in our condensed consolidated balance sheet. As of March 31, 2019 the total net investment in leases was $0.5 million . The following presents maturities of lease receivables under sales-type leases which we are the lessor as of March 31, 2019 (in thousands): Remainder of 2019 $ 135 2020 139 2021 91 2022 73 2023 36 Thereafter 7 Total undiscounted cash flows 481 Less imputed interest (5 ) Present value of lease payments $ 476

Industry, Geographic and Revenu

Industry, Geographic and Revenue Disaggregation	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Industry, Geographic and Revenue Disaggregation	NOTE 16. INDUSTRY, GEOGRAPHIC AND REVENUE DISAGGREGATION The Company operates as one operating segment. Sales to customers outside the United States represented 33% and 26% for the three months ended March 31, 2019 and 2018 , respectively. As of March 31, 2019 and December 31, 2018 , balances due from foreign customers, in U.S. dollars, were $1.2 million and $0.9 million , respectively. The following presents total net sales by geographic territory for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Domestic $ 1,169 $ 595 Foreign 581 206 Net sales $ 1,750 $ 801 The following presents total net sales by line of business for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Accelerate Pheno™ revenue $ 1,705 $ 770 Other revenue 45 31 Net sales $ 1,750 $ 801 The following presents total net sales by products and services for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Products $ 1,693 $ 796 Services 57 5 Net sales $ 1,750 $ 801 Lease income included in net sales for the three months ended March 31, 2019 and 2018 was $0.2 million and no material amounts, respectively, which does not represent revenues recognized from contracts with customers. The following presents long-lived assets (excluding intangible assets) by geographic territory (in thousands): March 31, December 31, 2019 2018 Domestic $ 6,315 $ 6,309 Foreign 927 994 Property and equipment, net $ 7,242 $ 7,303

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 17. RELATED PARTY TRANSACTIONS As part of the transaction discussed in Note 10, Convertible Notes , an affiliate of one member of the Company's board of directors purchased an aggregate of $30.0 million of the Notes. The affiliated entity is a Qualified Institutional Buyer which purchased and holds the Notes at March 31, 2019 .

Organization and Nature of Bu_2

Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018 , as filed with the SEC on March 1, 2019. The condensed consolidated balance sheet as of December 31, 2018 included herein was derived from the audited financial statements as of that date, but does not include all disclosures such as notes required by U.S. GAAP. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods presented, but are not necessarily indicative of the results of operations to be anticipated for the entire year ending December 31, 2019 , or any future period. All amounts are rounded to the nearest thousand dollars unless otherwise indicated.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after elimination of intercompany transactions and balances.
Use of Estimates	Use of Estimates The preparation of the Company’s condensed consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to accounts receivable, inventory, property and equipment, accrued liabilities, warranty liabilities, tax valuation accounts and equity–based compensation. Actual results could differ materially from those estimates.
Estimated Fair Value of Financial Instruments	Estimated Fair Value of Financial Instruments The Company follows ASC 820 , Fair Value Measurement, which has defined fair value and requires the Company to establish a framework for measuring and disclosing fair value. The framework requires the valuation of assets and liabilities subject to fair value measurements using a three tiered approach and fair value measurement be classified and disclosed in one of the following three categories: • Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; • Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). The carrying amounts of financial instruments such as cash and cash equivalents, trade accounts receivable, prepaid expenses, other current assets, accounts payable, accrued liabilities, and other current liabilities approximate the related fair values due to the short-term maturities of these instruments. The estimated fair value of the Company’s long-term debt represents a Level 2 measurement.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with an original maturity of three months or less at time of purchase are considered to be cash equivalents. Cash and cash equivalents include overnight repurchase agreement accounts and other investments. As part of our cash management process, excess operating cash is invested in overnight repurchase agreements with our bank. Repurchase agreements and other investments classified as cash and cash equivalents are not deposits and are not insured by the U.S. Government, the FDIC or any other government agency and involve investment risk including possible loss of principal. We believe, however, that the market risk arising from holding these financial instruments is minimal.
Investments	Investments The Company invests in various investments which are primarily held in the custody of major financial institutions. Investments consist of certificates of deposit, U.S. government and agency securities, commercial paper, asset-backed securities, and corporate notes and bonds. Management classifies its investments as available-for-sale investments and records these investments in the condensed consolidated balance sheet at fair value. The Company considers all available-for-sale securities, including those with maturity dates beyond 12 months, as available to support current operational liquidity needs. Unrealized gains or losses for available-for-sale securities are included in accumulated other comprehensive income (loss), a component of stockholders’ equity. The Company classifies its investments as current based on the nature of the investments and their availability for use in current operations. The Company assesses whether an other-than-temporary impairment loss has occurred due to declines in fair value or other market conditions when an investment’s fair value remains less than its cost for more than twelve months. This assessment includes a determination of whether the investment is expected to recover in value and whether the Company has the intent and ability to hold the investment until the anticipated recovery in value occurs. When an investment is identified as having an other-than-temporary impairment loss, we adjust the cost basis of the investment down to fair value resulting in a realized loss. The new cost basis is not changed for subsequent recoveries in fair value and temporary future increases or decreases in fair value are included in other comprehensive income (loss) .
Inventory	Inventory Inventory is stated at the lower of cost or net realizable value. The Company determines the cost of inventory using the first-in, first out method. The Company estimates the recoverability of inventory by reference to internal estimates of future demands and product life cycles, including expiration. The Company periodically analyzes its inventory levels to identify inventory that may expire prior to expected sale or has a cost basis in excess of its estimated net realizable value and records a charge to expense for such inventory as appropriate.
Accounts Receivable	Accounts Receivable Accounts receivable consist of amounts due to the Company for sales to customers and are based on what we expect to collect in exchange for goods and services. Receivables are written off if reasonable collection efforts prove unsuccessful. The Company provides for allowances on a specific account basis by recording adjustments to revenue, if necessary.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Maintenance and repairs are charged to expense as incurred and expenditures for major improvements are capitalized. Gains and losses from retirement or replacement are included in costs and expenses. Depreciation of property and equipment is computed using the straight-line method over the estimated useful life of the assets, ranging from one year to seven years . Leasehold improvements are depreciated over the remaining life of the lease or the life of the asset, whichever is less. Property and equipment includes Accelerate Pheno™ systems (also referred to as instruments) used for sales demonstrations, instruments under rental agreements and instruments used for research and development. Depreciation expense for instruments used for sales demonstrations is recorded as a component of sales, general and administrative expense. Depreciation expense for instruments placed at customer sites pursuant to reagent rental agreements is recorded as a component of cost of sales. Depreciation expense for instruments used in our laboratory and research is recorded as a component of research and development expense. The Company retains title to these instruments and depreciates them over five years .
Long-lived Assets	Long-lived Assets Long-lived assets and certain identifiable intangibles to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company continuously evaluates the recoverability of its long-lived assets based on estimated future cash flows from and the estimated fair value of such long-lived assets, and provides for impairment if such undiscounted cash flows or the estimated fair value are insufficient to recover the carrying amount of the long-lived asset.
Warranty Reserve	Warranty Reserve Instruments are typically sold with a one year limited warranty, while kits and accessories are typically sold with a sixty days limited warranty. Accordingly, a provision for the estimated cost of the limited warranty repair is recorded at the time revenue is recognized. Our estimated warranty provision is based on our estimate of future repair events and the related estimated cost of repairs. The Company periodically assesses the adequacy of the warranty reserve and adjusts the amount as necessary. The expense incurred for these provisions is included in cost of sales on the condensed consolidated statements of operations and comprehensive loss.
Convertible Notes	Convertible Notes The Company issued convertible notes in 2018 that had conversion prices which resulted in an embedded beneficial conversion feature. The intrinsic value of the beneficial conversion feature was recorded as a debt discount with the corresponding amount recorded to contributed capital. The debt discount is amortized to interest expense over the life of the convertible notes using the effective interest method.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when control of the promised good or service is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Sales taxes are excluded from revenues. We determine revenue recognition through the following steps: • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations • Recognition of revenue as we satisfy a performance obligation Product revenue is derived from the sale or rental of our instruments and sales of related consumable products. When an instrument is sold, revenue is generally recognized upon installation of the unit consistent with contract terms, which do not include a right of return. When a consumable product is sold, revenue is generally recognized upon shipment. Invoices are generally issued when revenue is recognized. Service revenue is derived from the sale of extended service agreements which are generally non-cancellable. This revenue is recognized on a straight-line basis over the contract term beginning on the effective date of the contract because the Company is standing ready to provide services. Invoices are generally issued annually and coincide with the beginning of individual service terms. Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine relative standalone selling prices based on the price charged to customers for each individual performance obligation. Our payment terms vary by the type and location of our customers and the product or services offered and range between 30 and 150 days . Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. The Company has determined these costs would have an amortization period of less than one year and has elected to recognize them as an expense when incurred. Contract asset opening and closing balances were immaterial for the three months ended March 31, 2019 . Cost of Sales Cost of sales includes cost of materials, direct labor, equity-based compensation, facility and other manufacturing overhead costs for consumable tests and instruments sold to customers. Cost of sales for instruments also includes depreciation on revenue generating instruments that have been placed with our customers under a reagent rental agreement. Cost of sales includes repair and maintenance cost for instruments covered by a service agreement or instruments covered by a reagent rental agreement. Cost of sales also includes warranty related expenses. Shipping and Handling Shipping and handling costs billed to customers are included as a component of revenue. The corresponding expense incurred with third party carriers is included as a component of sales, general and administrative costs on the condensed consolidated statements of operations and comprehensive loss.
Leases	Leases The Company accounts for leases in accordance with ASC 842, Leases , which was adopted on January 1, 2019. We determine if an arrangement is or contains a lease and the type of lease at inception. The Company classifies leases as finance leases (lessee) or sales-type leases (lessor) when there is either a transfer of ownership of the underlying asset by the end of the lease term, the lease contains an option to purchase the asset that we are reasonably certain will be exercised, the lease term is for the major part of the remaining economic life of the asset, the present value of the lease payments and any residual value guarantee equals or substantially exceeds all the fair value of the asset, or the asset is of such a specialized nature that it will have no alternative use to the lessor at the end of the lease term. Payments contingent on future events (i.e. based on usage) are considered variable and excluded from lease payments for the purposes of classification and initial measurement. Several of our leases include options to renew or extend the term upon mutual agreement of the parties and others include one-year extensions exercisable by the lessee. None of our leases contain residual value guarantees, restrictions, or covenants. To determine whether a contract contains a lease, the Company uses its judgment in assessing whether the lessor retains a material amount of economic benefit from an underlying asset, whether explicitly or implicitly identified, which party holds control over the direction and use of the asset, and whether any substantive substitution rights over the asset exist. Lessee Operating leases are included in right-of-use (“ROU”) assets and operating lease liabilities within our condensed consolidated balance sheets. These assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and their related liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Typically, we use our incremental borrowing rate based on the information available at commencement in determining the present value of lease payments. We use the implicit rate when readily determinable. ROU assets are net of lease payments made and exclude lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term, which may include options to extend or terminate the lease when it is reasonably certain that we will exercise the option. As of adoption of ASC 842 and as of March 31, 2019 , the Company was not party to finance lease arrangements. Our leases consist primarily of leased office, factory, and laboratory space in the United States and office space and automobiles in Europe, have between two and five -year terms, and typically contain penalizing, early-termination provisions. Lessor The Company leases instruments to customers under “reagent rental” agreements, under which the customer agrees to purchase consumable products over a stated term, typically five years or less, for a volume-based price that includes an embedded rental for the instruments. When collectibility is probable, that amount is recognized as income at lease commencement for sales-type leases and on a straight-line basis over the term for operating leases, which typically include a termination without cause or penalty provision given a short notice period. Consideration is allocated between lease and non-lease components based on stand-alone selling price in accordance with ASC 606, Revenue from Contracts with Customers. Net investment in sales-type leases are included within our condensed consolidated balance sheets as a component of other current assets and other non-current assets, which include the present value of lease payments not yet received and the present value of the residual asset, which is determined using the information available at commencement, including the lease term and estimated useful life and expected fair value of the instrument.
Equity-Based Compensation	Equity-Based Compensation The Company may award stock options, restricted stock units (“RSUs”), performance-based options and other equity-based instruments to its employees, directors and consultants. Compensation cost related to equity-based instruments is based on the fair value of the instrument on the grant date, and is recognized over the requisite service period on a straight-line basis over the vesting period for each tranche (an accelerated attribution method) except for performance-based options. Performance-based stock options vest based on the achievement of performance targets. Compensation costs associated with performance-based option awards are recognized over the requisite service period based on probability of achievement. Performance-based stock options require management to make assumptions regarding the likelihood of achieving performance targets. The Company estimates the fair value of service based and performance based stock option awards, including modifications of stock option awards, using the Black-Scholes option pricing model. This model derives the fair value of stock options based on certain assumptions related to expected stock price volatility, expected option life, risk-free interest rate and dividend yield. • Volatility: The expected volatility is based on the historical volatility of the Company's stock price over the most recent period commensurate with the expected term of the stock option award. • Expected term: The estimated expected term for employee awards is based on the calculation published by the SEC in SAB110 for use when there is not a sufficient history of employee exercise patterns. For consultant awards, the estimated expected term is the same as the life of the award. • Risk-free interest rate: The risk-free interest rate is based on published U.S. Treasury rates for a term commensurate with the expected term. • Dividend yield: The dividend yield is estimated as zero as the Company has not paid dividends in the past and does not have any plans to pay any dividends in the foreseeable future. The Company records the fair value of RSUs or stock grants based on published closing market price on the day before the grant date. The Company accounts for forfeitures as they occur rather than on an estimated basis.
Income Taxes and Deferred Tax Assets	Deferred Tax Assets Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in the accompanying balance sheets. The change in deferred tax assets and liabilities for the period represents the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws in deferred tax assets and liabilities are reflected as an adjustment to the tax provision or benefit in the period of enactment. The Company follows the provisions of ASC 740, Income Taxes , to account for any uncertainty in income taxes with respect to the accounting for all tax positions taken (or expected to be taken) on any income tax return. This guidance applies to all open tax periods in all tax jurisdictions in which the Company is required to file an income tax return. Under U.S. GAAP, in order to recognize an uncertain tax benefit the taxpayer must be more likely than not certain of sustaining the position, and the measurement of the benefit is calculated as the largest amount that is more likely than not to be realized upon resolution of the position. Interest and penalties, if any, would be recorded within tax expense.
Foreign Currency Translation and Foreign Currency Transactions	Foreign Currency Translation and Foreign Currency Transactions Adjustments resulting from translating foreign functional currency financial statements into U.S. Dollars are included in the foreign currency translation adjustment, a component of accumulated other comprehensive income (loss). The Company has assets and liabilities, including receivables and payables, which are denominated in currencies other than their functional currency. These balance sheet items are subject to re-measurement, the impact of which is recorded in foreign currency exchange gain and loss, within the condensed consolidated statement of operations and comprehensive loss.
Earnings Per Share	Earnings Per Share Basic earnings (loss) per share includes no dilution and is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Potentially dilutive common shares consist of shares issuable from stock options and unvested RSUs. Potentially dilutive common shares would also include common shares that would be outstanding if notes convertible at the balance sheet date were converted. Diluted earnings are not presented when the effect of adding such additional common shares is antidilutive. Earnings per share are restated when certain transactions or events, including rights offerings determined to have bonus elements have occurred.
Standards that were adopted and standards not yet adopted	Standards that were adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02 “Leases,” which together with subsequent amendments is included in ASC 842. ASC 842 requires a lessee to recognize a liability to make lease payments and an asset with respect to its right to use the underlying asset for the lease term. ASC 842 also addresses accounting and reporting by lessors, which is not significantly different from current accounting and reporting, and further provides for qualitative and quantitative disclosures. We adopted ASC 842 on January 1, 2019 using the optional transition method allowed by ASU 2018-11. This optional transition method allowed the Company to apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. For contracts where we are the lessee, we recorded lease liabilities and right of use assets for contracts in effect on January 1, 2019 based on the facts and circumstances as of that date. The Company elected not to reassess whether any expired or existing contracts are or contain leases, not to reassess the lease classification for any expired or existing leases, not to reassess initial direct costs for any existing leases, and not to separate the lease components from the non-lease components for all classes of underlying assets. We recognized right of use assets and lessee lease liabilities of $0.6 million with respect to operating leases where we are the lessee. We also implemented internal controls and key system functionality to enable the preparation of financial information on adoption. The adoption of ASC 842 did not have a material effect on our consolidated financial position, results of operations or cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718); Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 simplifies the accounting for share-based payments made to nonemployees so the accounting for such payments is substantially the same as those made to employees. Under this ASU, share-based awards to nonemployees will be measured at fair value on the grant date of the awards, entities will need to assess the probability of satisfying performance conditions if any are present, and awards will continue to be classified according to ASC 718 upon vesting, which eliminates the need to reassess classification upon vesting, consistent with awards granted to employees. The Company adopted ASU 2018-07 on January 1, 2019 , which did not have an effect on our consolidated financial statements as all share-based awards granted to nonemployees are fully vested. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220); Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI). ASU 2018-02 allows a reclassification from accumulated other comprehensive income to retained earnings for tax effects resulting from the Tax Act that the FASB refers to as having been stranded in AOCI. The Company adopted ASU 2018-02 on January 1, 2019 , with no impact to our consolidated financial statements as no amounts were reclassified from accumulated other comprehensive income to retained earnings for tax effects resulting from the Tax Act. In March 2017, the FASB issued ASU 2017-08, Receivable - Nonrefundable Fees and Other Costs (Topic 310-20); Premium Amortization on Purchased Callable Debt Securities. ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendment requires premiums to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2017-08 on January 1, 2019 , with no impact to the consolidated financial statements as we do not carry callable securities held at a premium. Standards not yet adopted In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820); Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements for fair value measurements. This ASU is effective for us on January 1, 2020, with early adoption permitted. We are currently assessing the impact this will have on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments. ASU 2019-04 and ASU 2018-19 were issued which amended the standard. ASU 2016-13 amends the guidance on measuring credit losses on financial assets (including trade accounts receivable and available for sale debt securities) held at amortized cost. Currently, an “incurred loss” methodology is used for recognizing credit losses which delays recognition until it is probable a loss has been incurred. The amendment requires assets valued at amortized cost to be presented at the net amount expected to be collected using an allowance for credit losses. Reversal of credit losses on available for sale debt securities will be recorded in the current period net income. This ASU is effective for us on January 1, 2020, with early adoption permitted. We do not anticipate this will have a significant impact on our consolidated financial statements.

Organization and Nature of Bu_3

Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Product Warranty Reserve Activity	Warranty reserve activity for the three months ended March 31, 2019 and 2018 is as follows (in thousands): Three Months Ended March 31, March 31, 2019 2018 Beginning balance $ 215 $ 192 Provisions 70 121 Warranty incurred (79 ) (137 ) Ending balance $ 206 $ 176

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurement	The following tables represent the financial instruments measured at fair value on a recurring basis in the financial statements of the Company and the valuation approach applied to each class of financial instruments at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 Quoted Prices Significant Significant Total Assets: Cash and cash equivalents: Money market funds $ 47,788 $ — $ — $ 47,788 Commercial paper — 5,182 — 5,182 Corporate notes and bonds — 1,227 — 1,227 Total cash and cash equivalents $ 47,788 $ 6,409 $ — $ 54,197 Investments: Certificates of deposit — 8,809 — 8,809 U.S. Treasury securities 25,387 — — 25,387 U.S. Agency securities — 6,501 — 6,501 Commercial paper — 8,463 — 8,463 Asset-backed securities — 4,391 — 4,391 Corporate notes and bonds — 21,999 — 21,999 Total investments 25,387 50,163 — 75,550 Total assets measured at fair value $ 73,175 $ 56,572 $ — $ 129,747 December 31, 2018 Quoted Prices Significant Significant Total Assets: Cash and cash equivalents: Money market funds $ 38,444 $ — $ — $ 38,444 Commercial paper — 1,493 — 1,493 Total cash and cash equivalents 38,444 1,493 — 39,937 Investments: Certificates of deposit — 10,787 — 10,787 U.S. Treasury securities 22,120 — — 22,120 U.S. Agency securities — 7,980 — 7,980 Commercial paper — 17,025 — 17,025 Asset-backed securities — 11,998 — 11,998 Corporate notes and bonds — 30,308 — 30,308 Total investments 22,120 78,098 — 100,218 Total assets measured at fair value $ 60,564 $ 79,591 $ — $ 140,155

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
Schedule of Customer Concentration	Customers who represented 10% or more of the Company’s total revenue for the three months ended March 31, 2019 and 2018 were as follows: Three Months Ended March 31, 2019 2018 Company A 19% 14% Company B * 26% Company C * 12% Company D * 11% * Less than 10% for the period indicated

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Investments	The following tables summarize the Company’s available-for-sale investments at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 8,817 $ 9 $ (17 ) $ 8,809 U.S. Treasury securities 25,401 8 (22 ) 25,387 U.S. Agency securities 6,521 — (20 ) 6,501 Commercial paper 8,463 — — 8,463 Asset-backed securities 4,390 1 — 4,391 Corporate notes and bonds 22,008 4 (13 ) 21,999 Total $ 75,600 $ 22 $ (72 ) $ 75,550 December 31, 2018 Amortized Gross Gross Fair Value Certificates of deposit $ 10,787 $ — $ — $ 10,787 U.S. Treasury securities 22,185 1 (66 ) 22,120 U.S. Agency securities 8,024 1 (45 ) 7,980 Commercial paper 17,025 — — 17,025 Asset-backed securities 12,007 — (9 ) 11,998 Corporate notes and bonds 30,361 — (53 ) 30,308 Total $ 100,389 $ 2 $ (173 ) $ 100,218
Schedule of Available-For-Sale Investment Maturities	The following table summarizes the maturities of the Company’s available-for-sale securities at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Amortized Fair Value Amortized Fair Value Due in less than 1 year $ 68,462 $ 68,394 $ 83,030 $ 82,893 Due in 1-3 years 7,138 7,156 17,359 17,325 Total $ 75,600 $ 75,550 $ 100,389 $ 100,218

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Raw materials $ 5,080 $ 4,064 Work in process 735 495 Finished goods 2,784 3,187 Inventory $ 8,599 $ 7,746

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Computer equipment $ 2,733 $ 2,700 Technical equipment 3,949 3,868 Facilities 4,031 4,037 Instruments 5,663 5,318 Capital projects in progress 38 91 Total property and equipment $ 16,414 $ 16,014 Accumulated depreciation (9,172 ) (8,711 ) Property and equipment, net $ 7,242 $ 7,303

Deferred Revenue, Income and _2

Deferred Revenue, Income and Remaining Performance Obligations (Tables)	3 Months Ended
	Mar. 31, 2019
Deferred Revenue Disclosure [Abstract]
Deferred Revenue and Income Summary	A summary of the balances as of March 31, 2019 and December 31, 2018 follows (in thousands): March 31, December 31, 2019 2018 Products and services not yet delivered $ 291 $ 217

Convertible Notes (Tables)

Convertible Notes (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Convertible Notes	Convertible notes consisted of the following as of March 31, 2019 and December 31, 2018 follows (in thousands): March 31, December 31, 2019 2018 Outstanding principal $ 171,500 $ 171,500 Unamortized debt discount (46,182 ) (48,430 ) Unamortized debt issuance (2,857 ) (2,996 ) Net carrying amount of the liability component 122,461 120,074

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Potentially Issuable Common Shares not Included in Computation of Diluted Net Loss Per Share	The following potentially issuable common shares were not included in the computation of diluted net loss per share because they would have an anti-dilutive effect for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Shares issuable upon the release of restricted stock awards 30 16 Shares issuable upon exercise of stock options 9,160 8,084 9,190 8,100

Employee Equity-Based Compens_2

Employee Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Activity	The following table summarizes option activity under all plans during the three months ended March 31, 2019 : Number of Shares Weighted Average Exercise Price per Share Options Outstanding January 1, 2019 8,090,636 $ 12.22 Granted 1,468,949 11.66 Forfeited (169,423 ) 21.05 Exercised (208,044 ) 17.68 Expired (22,576 ) 23.27 Options Outstanding March 31, 2019 9,159,542 $ 11.81
Inputs to Calculate Estimated Fair Value of Options Awarded	The table below summarizes the resulting weighted average inputs used to calculate the estimated fair value of options awarded during the periods shown below: Three Months Ended March 31, March 31, 2019 2018 Expected term (in years) 6.17 6.11 Volatility 62 % 68 % Expected dividends — — Risk free interest rates 2.59 % 2.69 % Weighted average fair value $ 6.90 $ 16.25
Stock Option Supplemental Information	The following table shows summary information for outstanding options and options that are exercisable (vested) as of March 31, 2019 : Options Outstanding Options Exercisable Number of options 9,159,542 5,987,089 Weighted average remaining contractual term (in years) 6.08 4.63 Weighted average exercise price $ 11.81 $ 8.75 Weighted average fair value $ 7.91 $ 5.95 Aggregate intrinsic value (in thousands) $ 92,541 $ 76,978
Restricted Stock Unit (RSU) Activity	The following table summarizes RSU and restricted stock award activity during the three months ended March 31, 2019 : Number of Shares Weighted Average Grant Date Fair Value per Share Outstanding January 1, 2019 76,000 $ 18.70 Granted 11,000 20.32 Forfeited (50,000 ) 20.80 Vested/released (7,000 ) 19.47 Outstanding March 31, 2019 30,000 15.62
Equity-Based Compensation Expenses	Equity-based compensation is summarized below (in thousands): Three Months Ended March 31, March 31, 2019 2018 Cost of sales $ 55 $ 46 Research and development 1,527 1,612 Sales, general and administrative 1,815 3,944 Equity-based compensation expense $ 3,397 $ 5,602

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Assets And Liabilities	The following presents supplemental information related to our leases in which we are the lessee for the three months ended March 31, 2019 (in thousands except lease term and discount rate): Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 82 Right-of-use assets obtained in exchange for lease obligations Operating leases $ — Lease Cost Operating leases $ 82 Short-term leases (including leases with a term of one month or less) $ 295 Weighted average remaining lease term (years) Operating leases 2.3 years Weighted average discount rate (%) Operating leases 6.9 %
Lease Costs	The following presents supplemental information related to our leases in which we are the lessee for the three months ended March 31, 2019 (in thousands except lease term and discount rate): Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 82 Right-of-use assets obtained in exchange for lease obligations Operating leases $ — Lease Cost Operating leases $ 82 Short-term leases (including leases with a term of one month or less) $ 295 Weighted average remaining lease term (years) Operating leases 2.3 years Weighted average discount rate (%) Operating leases 6.9 %
Maturities of Lease Liabilities	The following presents maturities of operating lease liabilities in which we are the lessee as of March 31, 2019 (in thousands): Remainder of 2019 $ 195 2020 174 2021 116 2022 44 2023 — Thereafter — Total lease payments 529 Less imputed interest (42 ) Total $ 487
Sales-type Lease Receivable Maturity	The following presents maturities of lease receivables under sales-type leases which we are the lessor as of March 31, 2019 (in thousands): Remainder of 2019 $ 135 2020 139 2021 91 2022 73 2023 36 Thereafter 7 Total undiscounted cash flows 481 Less imputed interest (5 ) Present value of lease payments $ 476

Industry, Geographic and Reve_2

Industry, Geographic and Revenue Disaggregation (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Disaggregation of Revenue	The following presents total net sales by geographic territory for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Domestic $ 1,169 $ 595 Foreign 581 206 Net sales $ 1,750 $ 801 The following presents total net sales by line of business for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Accelerate Pheno™ revenue $ 1,705 $ 770 Other revenue 45 31 Net sales $ 1,750 $ 801 The following presents total net sales by products and services for the three months ended March 31, 2019 and 2018 (in thousands): 2019 2018 Products $ 1,693 $ 796 Services 57 5 Net sales $ 1,750 $ 801
Long-lived Assets by Geographic Territory	The following presents long-lived assets (excluding intangible assets) by geographic territory (in thousands): March 31, December 31, 2019 2018 Domestic $ 6,315 $ 6,309 Foreign 927 994 Property and equipment, net $ 7,242 $ 7,303

Organization and Nature of Bu_4

Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Instrument warranty term	1 year
Kits and accessories warranty term	60 days
Term of lease	5 years
Expected dividends	0.00%	0.00%	0.00%
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	1 year
Payment terms	30 days
Lease term	2 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	7 years
Payment terms	150 days
Lease term	5 years
Instruments
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	5 years

Organization and Nature of Bu_5

Organization and Nature of Business; Basis of Presentation; Principles of Consolidation; Significant Accounting Policies - Schedule of Product Warranty Reserve Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 215	$ 192
Provisions	70	121
Warranty incurred	(79)	(137)
Ending balance	$ 206	$ 176

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets	$ 487
Lessee lease liabilities	$ 487	$ 600
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets		$ 600

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value Measurement (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 75,550	$ 100,218
Fair value on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	54,197	39,937
Fair Value	75,550	100,218
Total assets measured at fair value	129,747	140,155
Fair value on a recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	47,788	38,444
Fair Value	25,387	22,120
Total assets measured at fair value	73,175	60,564
Fair value on a recurring basis | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	6,409	1,493
Fair Value	50,163	78,098
Total assets measured at fair value	56,572	79,591
Fair value on a recurring basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value	0	0
Total assets measured at fair value	0	0
Fair value on a recurring basis | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,809	10,787
Fair value on a recurring basis | Certificates of deposit | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Certificates of deposit | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,809	10,787
Fair value on a recurring basis | Certificates of deposit | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	25,387	22,120
Fair value on a recurring basis | U.S. Treasury securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	25,387	22,120
Fair value on a recurring basis | U.S. Treasury securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | U.S. Treasury securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | U.S. Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,501	7,980
Fair value on a recurring basis | U.S. Agency securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | U.S. Agency securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,501	7,980
Fair value on a recurring basis | U.S. Agency securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,463	17,025
Fair value on a recurring basis | Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Commercial paper | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	8,463	17,025
Fair value on a recurring basis | Commercial paper | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,391	11,998
Fair value on a recurring basis | Asset-backed securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Asset-backed securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,391	11,998
Fair value on a recurring basis | Asset-backed securities | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	21,999	30,308
Fair value on a recurring basis | Corporate notes and bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Corporate notes and bonds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	21,999	30,308
Fair value on a recurring basis | Corporate notes and bonds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair value on a recurring basis | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	47,788	38,444
Fair value on a recurring basis | Money market funds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	47,788	38,444
Fair value on a recurring basis | Money market funds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair value on a recurring basis | Money market funds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair value on a recurring basis | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	5,182	1,493
Fair value on a recurring basis | Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair value on a recurring basis | Commercial paper | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	5,182	1,493
Fair value on a recurring basis | Commercial paper | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	$ 0
Fair value on a recurring basis | Corporate Notes and Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,227
Fair value on a recurring basis | Corporate Notes and Bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Fair value on a recurring basis | Corporate Notes and Bonds | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,227
Fair value on a recurring basis | Corporate Notes and Bonds | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	Apr. 04, 2018	Mar. 27, 2018	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Over-allotment option, term		13 days
Over-allotment option		$ 22,500,000
Additional proceeds	$ 21,500,000
Unsecured obligations | 2.50% Convertible notes due 2023
Debt Instrument [Line Items]
Aggregate principal amount	171,500,000	$ 150,000,000
Interest rate		2.50%
Proceeds received	$ 171,500,000
Fair value			$ 141,500,000	$ 121,400,000

Concentration of Credit Risk (D

Concentration of Credit Risk (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Net accounts receivable | Customer concentration | Company A
Concentration Risk [Line Items]
Risk concentration	17.00%		10.00%
Total revenue | Customer concentration | Company A
Concentration Risk [Line Items]
Risk concentration	19.00%	14.00%
Total revenue | Customer concentration | Company B
Concentration Risk [Line Items]
Risk concentration		26.00%
Total revenue | Customer concentration | Company C
Concentration Risk [Line Items]
Risk concentration		12.00%
Total revenue | Customer concentration | Company D
Concentration Risk [Line Items]
Risk concentration		11.00%
Financial institution A | Cash and cash equivalents | Concentration of credit risk
Concentration Risk [Line Items]
Risk concentration	47.00%		46.00%
Financial institution B | Cash and cash equivalents | Concentration of credit risk
Concentration Risk [Line Items]
Risk concentration	46.00%		43.00%

Investments - Schedule of Avail

Investments - Schedule of Available-for-sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment [Line Items]
Total	$ 75,600	$ 100,389
Gross Unrealized Gains	22	2
Gross Unrealized Losses	(72)	(173)
Fair Value	75,550	100,218
Certificates of deposit
Investment [Line Items]
Total	8,817	10,787
Gross Unrealized Gains	9	0
Gross Unrealized Losses	(17)	0
Fair Value	8,809	10,787
U.S. Treasury securities
Investment [Line Items]
Total	25,401	22,185
Gross Unrealized Gains	8	1
Gross Unrealized Losses	(22)	(66)
Fair Value	25,387	22,120
U.S. Agency securities
Investment [Line Items]
Total	6,521	8,024
Gross Unrealized Gains	0	1
Gross Unrealized Losses	(20)	(45)
Fair Value	6,501	7,980
Commercial paper
Investment [Line Items]
Total	8,463	17,025
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	8,463	17,025
Asset-backed securities
Investment [Line Items]
Total	4,390	12,007
Gross Unrealized Gains	1	0
Gross Unrealized Losses	0	(9)
Fair Value	4,391	11,998
Corporate notes and bonds
Investment [Line Items]
Total	22,008	30,361
Gross Unrealized Gains	4	0
Gross Unrealized Losses	(13)	(53)
Fair Value	$ 21,999	$ 30,308

Investments - Schedule of Ava_2

Investments - Schedule of Available-for-Sale Investment Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost
Due in less than 1 year	$ 68,462	$ 83,030
Due in 1-3 years	7,138	17,359
Total	75,600	100,389
Fair Value
Due in less than 1 year	68,394	82,893
Due in 1-3 years	7,156	17,325
Total	$ 75,550	$ 100,218

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of marketable securities	$ 9,000,000	$ 3,000,000
Gross realized gains or losses from sales of marketable securities	$ 0	$ 0

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 5,080	$ 4,064
Work in process	735	495
Finished goods	2,784	3,187
Inventory	$ 8,599	$ 7,746

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 16,414		$ 16,014
Accumulated depreciation	(9,172)		(8,711)
Property and equipment, net	7,242		7,303
Depreciation	600	$ 500
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	2,733		2,700
Technical equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	3,949		3,868
Facilities
Property, Plant and Equipment [Line Items]
Total property and equipment	4,031		4,037
Instruments
Property, Plant and Equipment [Line Items]
Total property and equipment	5,663		5,318
Capital projects in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	38		$ 91
Assets under operating leases
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(100)
Property and equipment, net	$ 700

License Agreements and Grants -

License Agreements and Grants - National Institute of Health Grant (Details) - National Institute of Health Grant - USD ($) $ in Millions	1 Months Ended	3 Months Ended		50 Months Ended
	Feb. 28, 2015	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and Development Arrangement, Contract to Perform for Others, Proposed Period	5 years
Total grant funding	$ 5	$ 0.1	$ 0.1
Cumulative amount awarded				$ 1.3

License Agreements and Grants_2

License Agreements and Grants - Arizona Commerce Authority (Details)	Aug. 31, 2012USD ($)
Research and Development [Abstract]
Arizona Commerce Authority grant	$ 1,000,000

Deferred Revenue, Income and _3

Deferred Revenue, Income and Remaining Performance Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Deferred revenue and income	$ 291		$ 217
Revenues recognized included in contract liabilities balances	37	$ 37
Revenue expected to be recognized from remaining performance obligations	$ 1,900
Contact period	These service contracts typically provide for four-year terms and revenue is recognized on a straight-line basis. The balance also includes product shipments for reagent rental, sales-type lease agreements. The agreements have between two and four year terms and revenue is recognized as product is shipped, typically in a straight-line pattern.
Products and services not yet delivered
Disaggregation of Revenue [Line Items]
Deferred revenue and income	$ 291		$ 217

Convertible Notes - Narrative (

Convertible Notes - Narrative (Details)	Apr. 04, 2018USD ($)dayshares	Mar. 27, 2018USD ($)$ / shares	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Over-allotment option, term		13 days
Over-allotment option		$ 22,500,000
Additional proceeds	$ 21,500,000
Conversion ratio		0.0323428
Outstanding principal			$ 171,500,000		$ 171,500,000
Unamortized debt issuance			(2,857,000)		$ (2,996,000)
Stock price conversion threshold, percentage	130.00%
Consecutive trading days | day	20
Threshold trading days | day	30
Trading price threshold, percentage	98.00%
Repurchase principal balance, percent	100.00%
Interest expense			1,100,000	$ 100,000
Amortization of debt issuance costs			100,000	0
Amortization of the debt discount			$ 2,200,000	$ 100,000
Net proceeds from notes to fund Prepaid Forward	$ 45,100,000
Aggregate number of shares | shares	1,858,500
Unsecured obligations | 2.50% Convertible notes due 2023
Debt Instrument [Line Items]
Aggregate principal amount	$ 171,500,000	$ 150,000,000
Interest rate		2.50%
Proceeds received	171,500,000
Conversion multiple	1,000
Initial conversion price (usd per share) | $ / shares		$ 30.92
Outstanding principal	116,600,000
Equity component	(54,900,000)
Unamortized debt issuance	$ (5,000,000)
Contractual term	5 years
Effective interest rate	11.52%
Unsecured obligations | 2.50% Convertible notes due 2023 | Long-term debt
Debt Instrument [Line Items]
Unamortized debt issuance	$ (3,400,000)
Unsecured obligations | 2.50% Convertible notes due 2023 | Contributed Capital
Debt Instrument [Line Items]
Unamortized debt issuance	$ (1,600,000)

Convertible Notes - Schedule of

Convertible Notes - Schedule of Convertible Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Outstanding principal	$ 171,500	$ 171,500
Unamortized debt discount	(46,182)	(48,430)
Unamortized debt issuance	(2,857)	(2,996)
Net carrying amount of the liability component	$ 122,461	$ 120,074

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Potentially Issuable Common Shares not Included in Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock instruments outstanding (shares)	9,190	8,100
Shares issuable upon the release of restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock instruments outstanding (shares)	30	16
Shares issuable upon exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock instruments outstanding (shares)	9,160	8,084

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details)	Apr. 04, 2018USD ($)shares	Mar. 27, 2018USD ($)	Mar. 31, 2019shares
Debt Instrument [Line Items]
Conversion ratio		0.0323428
Aggregate number of shares	1,858,500
Unsecured obligations | 2.50% Convertible notes due 2023
Debt Instrument [Line Items]
Aggregate principal amount | $	$ 171,500,000	$ 150,000,000
Conversion multiple | $	$ 1,000
Shares issued			0
Number of shares issuable upon conversion (shares)			5,500,000

Employee Equity-Based Compens_3

Employee Equity-Based Compensation - Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of Shares
Outstanding, beginning balance (shares) | shares	8,090,636
Granted (shares) | shares	1,468,949
Forfeited (shares) | shares	(169,423)
Exercised (shares) | shares	(208,044)
Expired (shares) | shares	(22,576)
Outstanding, ending balance (shares) | shares	9,159,542
Weighted Average Exercise Price per Share
Outstanding, beginning balance (dollars per share) | $ / shares	$ 12.22
Granted (dollars per share) | $ / shares	11.66
Forfeited (dollars per share) | $ / shares	21.05
Exercised (dollars per share) | $ / shares	17.68
Expired (dollars per share) | $ / shares	23.27
Outstanding, ending balance (dollars per share) | $ / shares	$ 11.81

Employee Equity-Based Compens_4

Employee Equity-Based Compensation - Inputs to Calculate Estimated Fair Value of Options Awarded (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term (in years)	6 years 2 months 1 day	6 years 1 month 10 days
Volatility	62.00%	68.00%
Expected dividends	0.00%	0.00%	0.00%
Risk free interest rates	2.59%	2.69%
Weighted average fair value (dollars per share)	$ 6.90	$ 16.25

Employee Equity-Based Compens_5

Employee Equity-Based Compensation - Stock Option Supplemental Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Options Outstanding
Number of options (shares)	9,159,542	8,090,636
Weighted average remaining contractual term (in years)	6 years 29 days
Weighted average exercise price (dollars per share)	$ 11.81	$ 12.22
Weighted average fair value (dollars per share)	$ 7.91
Aggregate intrinsic value (in thousands)	$ 92,541
Options Exercisable
Number of options (shares)	5,987,089
Weighted average remaining contractual term (in years)	4 years 7 months 17 days
Weighted average exercise price (dollars per share)	$ 8.75
Weighted average fair value (dollars per share)	$ 5.95
Aggregate intrinsic value (in thousands)	$ 76,978

Employee Equity-Based Compens_6

Employee Equity-Based Compensation - Restricted Stock Activity (Details) - RSUs and RSAs	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of Shares
Beginning balance (shares) | shares	76,000
Granted (shares) | shares	11,000
Forfeited (shares) | shares	(50,000)
Vested/Released (shares) | shares	(7,000)
Ending balance (shares) | shares	30,000
Weighted Average Grant Date Fair Value per Share
Beginning balance (dollars per share) | $ / shares	$ 18.70
Granted (dollars per share) | $ / shares	20.32
Forfeited (dollars per share) | $ / shares	20.80
Vested/Released (dollars per share) | $ / shares	19.47
Ending balance (dollars per share) | $ / shares	$ 15.62

Employee Equity-Based Compens_7

Employee Equity-Based Compensation - Equity-Based Compensation Expense and Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 3,397	$ 5,602
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	55	46
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	1,527	1,612
Sales, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 1,815	$ 3,944

Employee Equity-Based Compens_8

Employee Equity-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 3,397	$ 5,602
Unrecognized equity-based compensation cost	22,500
Shares issuable upon the release of restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Unrecognized equity-based compensation cost, restricted stock units	400
Performance-based stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 100
Contractual life	10 years
Granted (shares)			225,000
Performance-based stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period	1 year
Performance-based stock options | Minimum | Granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period	5 years
Performance-based stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period	2 years
Performance-based stock options | Maximum | Granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period	6 years
Property and equipment
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 100	$ 200

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 221	$ 184
Pre-tax loss	$ 21,500	$ 20,628

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 82
Right-of-use assets obtained in exchange for lease obligations
Operating leases	0
Lease Cost
Operating leases	82
Short-term leases (including leases with a term of one month or less)	$ 295
Weighted average remaining lease term (years)	2 years 3 months 18 days
Weighted average discount rate (%)	6.90%
Rent expense		$ 342

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Remainder of 2019	$ 195
2020	174
2021	116
2022	44
2023	0
Thereafter	0
Total lease payments	529
Less imputed interest	(42)
Total	$ 487	$ 600

Leases - Sales-type Lease Recei

Leases - Sales-type Lease Receivable Maturity (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Net Investment in Lease	$ 500
Remainder of 2019	135
2020	139
2021	91
2022	73
2023	36
Thereafter	7
Total undiscounted cash flows	481
Less imputed interest	(5)
Present value of lease payments	$ 476

Industry, Geographic and Reve_3

Industry, Geographic and Revenue Disaggregation - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	1
Segment Reporting Information [Line Items]
Trade accounts receivable	$ 1,950		$ 1,860
Lease Income	$ 200	$ 0
Geographic concentration | Foreign | Total revenue
Segment Reporting Information [Line Items]
Risk concentration	33.00%	26.00%
Geographic concentration | Foreign | Net accounts receivable
Segment Reporting Information [Line Items]
Trade accounts receivable	$ 1,200		$ 900

Industry, Geographic and Reve_4

Industry, Geographic and Revenue Disaggregation - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 1,750	$ 801
Accelerate Pheno™ revenue
Disaggregation of Revenue [Line Items]
Net sales	1,705	770
Other revenue
Disaggregation of Revenue [Line Items]
Net sales	45	31
Products
Disaggregation of Revenue [Line Items]
Net sales	1,693	796
Services
Disaggregation of Revenue [Line Items]
Net sales	57	5
Domestic
Disaggregation of Revenue [Line Items]
Net sales	1,169	595
Foreign
Disaggregation of Revenue [Line Items]
Net sales	$ 581	$ 206

Industry, Geographic and Reve_5

Industry, Geographic and Revenue Disaggregation - Long-lived Assets by Geographic Territory (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Long-lived assets (excluding intangible assets)	$ 7,242	$ 7,303
Property and equipment | Geographic concentration
Segment Reporting Information [Line Items]
Long-lived assets (excluding intangible assets)	7,242	7,303
Property and equipment | Geographic concentration | Domestic
Segment Reporting Information [Line Items]
Long-lived assets (excluding intangible assets)	6,315	6,309
Property and equipment | Geographic concentration | Foreign
Segment Reporting Information [Line Items]
Long-lived assets (excluding intangible assets)	$ 927	$ 994

Related Party Transaction (Deta

Related Party Transaction (Details)	Mar. 31, 2019USD ($)
Director | Note holder
Related Party Transaction [Line Items]
Aggregate principal amount	$ 30,000,000

Uncategorized Items - axdx-2019

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (49,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (49,000)