Repligen (RGEN) 10-K26 Feb 202019 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2019	Feb. 18, 2020	Jun. 28, 2019
Cover [Abstract]
Amendment Flag	false
Document Type	10-K
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0000730272
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2019
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	000-14656
Entity Registrant Name	REPLIGEN CORP
Entity Filer Category	Large Accelerated Filer
Trading Symbol	RGEN
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2729386
Entity Address, Address Line One	41 Seyon Street, Bldg. 1, Suite 100
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02453
City Area Code	781
Entity Shell Company	false
Smaller reporting company	false
Emerging growth company	false
Local Phone Number	250-0111
Document Annual Report	true
Document Transition Report	false
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 3,599,784,849
Entity Common Stock, Shares Outstanding		52,083,563

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 528,392	$ 193,822
Restricted cash	9,015
Accounts receivables, less reserve for doubtful accounts of $525 and $227 at December 31, 2019 and December 31, 2018, respectively	43,068	33,015
Royalties and other receivables	148	136
Unbilled receivables	456	2,602
Inventories, net	54,832	42,263
Prepaid expenses and other current assets	5,917	3,901
Total current assets	641,828	275,739
Property, plant and equipment, net	48,455	32,180
Intangible assets, net	212,552	135,438
Goodwill	468,413	326,735
Deferred tax assets	2,920	4,355
Operating lease right of use assets	25,707
Other assets	238	174
Total assets	1,400,113	774,621
Current liabilities:
Accounts payable	11,425	10,489
Operating lease liability	3,557
Accrued liabilities	33,331	15,865
Convertible senior notes, net		103,488
Total current liabilities	48,313	129,842
Convertible senior notes	232,767
Deferred tax liabilities	29,944	25,086
Operating lease liability, long-term	26,995
Other liabilities, long-term	2,326	4,125
Total liabilities	340,345	159,053
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.01 par value; 80,000,000 shares authorized; 52,078,258 shares at December 31, 2019 and 43,917,378 shares at December 31, 2018 issued and outstanding	521	439
Additional paid-in capital	1,068,431	642,590
Accumulated other comprehensive loss	(15,027)	(11,893)
Accumulated earnings (deficit)	5,843	(15,568)
Total stockholders' equity	1,059,768	615,568
Total liabilities and stockholders' equity	$ 1,400,113	$ 774,621

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable, reserve for doubtful accounts	$ 525	$ 227
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	52,078,258	43,917,378
Common stock, shares outstanding	52,078,258	43,917,378

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Revenue:
Revenue	$ 270,245		$ 194,032	$ 141,236
Costs and operating expenses:
Cost of product revenue	119,099		86,531	67,050
Research and development	19,450		15,821	8,672
Selling, general and administrative	95,613		65,692	51,509
Total costs and operating expenses	234,162		168,044	127,231
Income from operations	36,083		25,988	14,005
Other (expenses) income:
Investment income	5,324		1,895	371
Loss on extinguishment of debt	(5,650)
Interest expense	(9,292)		(6,709)	(6,441)
Other (expenses) income	(314)		262	(687)
Other expenses, net	(9,932)		(4,552)	(6,757)
Income before income taxes	26,151		21,436	7,248
Income tax provision (benefit)	4,740		4,819	(21,105)
Net income	$ 21,411		$ 16,617	$ 28,353
Earnings per share:
Basic	$ 0.44		$ 0.38	$ 0.74
Diluted	$ 0.44		$ 0.37	$ 0.72
Weighted average common shares outstanding:
Basic	48,343		43,767	38,234
Diluted	49,206		45,471	39,150
Net income	$ 21,411		$ 16,617	$ 28,353
Other comprehensive income (loss):
Foreign currency translation adjustment	(3,134)		(5,530)	7,381
Unrealized gain on marketable securities				5
Comprehensive income	18,277		11,087	35,739
Products
Revenue:
Revenue	270,097	[1]	193,891	141,089	[2]
Royalty and Other Revenue
Revenue:
Revenue	$ 148		$ 141	$ 147

[1]	2019 revenue for process analytics products includes revenue related to C Technologies from May 31, 2019 through December 31, 2019.
[2]	2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Earnings/(Deficit)
Balance at Dec. 31, 2016	$ 168,764	$ 338	$ 242,036	$ (13,749)	$ (59,861)
Balance (in shares) at Dec. 31, 2016		33,844,074
Net income	28,353				28,353
Exercise of stock options and releases of restricted stock	2,351	$ 3	2,348
Exercise of stock options and releases of restricted stock (in shares)		330,185
Issuance of commons stock pursuant to the acquisition	247,575	$ 62	247,513
Issuance of commons stock pursuant to the acquisition, (in shares)		6,153,995
Unrealized gain on investments	5			5
Payment of contingent consideration in stock	1,063	$ 1	1,062
Payment of contingent consideration in stock (in shares)		30,756
Proceeds from issuance of common stock, net of issuance costs	129,309	$ 32	129,277
Proceeds from issuance of common stock, net of issuance costs (in shares)		3,228,069
Stock-based compensation expense	6,747		6,747
Balance at Dec. 31, 2017	591,548	$ 436	628,983	(6,363)	(31,508)
Balance (in shares) at Dec. 31, 2017		43,587,079
Translation adjustment	7,381			7,381
Net income	16,617				16,617
Issuance of common stock for debt conversion	0	$ 0	0
Issuance of common stock for debt conversion (in shares)		2
Exercise of stock options and releases of restricted stock	3,418	$ 3	3,415
Exercise of stock options and releases of restricted stock (in shares)		330,297
Stock-based compensation expense	10,192		10,192
Balance at Dec. 31, 2018	615,568	$ 439	642,590	(11,893)	(15,568)
Balance (in shares) at Dec. 31, 2018		43,917,378
Cumulative effect of accounting changes	(677)				(677)
Translation adjustment	(5,530)			(5,530)
Net income	21,411				21,411
Issuance of common stock for debt conversion	198,757	$ 23	198,734
Issuance of common stock for debt conversion (in shares)		2,316,229
Reduction of equity component from debt conversion, net of tax	(200,079)		(200,079)
Exercise of stock options and releases of restricted stock	1,167	$ 3	1,164
Exercise of stock options and releases of restricted stock (in shares)		339,329
Issuance of commons stock pursuant to the acquisition	53,938	$ 8	53,930
Issuance of commons stock pursuant to the acquisition, (in shares)		779,221
Tax withholding on vesting of restricted stock units	(490)	$ 0	(490)
Tax withholding on vesting of restricted stock units (in shares)		(5,430)
Equity component of 0.375% senior convertible notes, net of tax	39,070		39,070
Proceeds from issuance of common stock, net of issuance costs	320,713	$ 48	320,665
Proceeds from issuance of common stock, net of issuance costs (in shares)		4,731,531
Stock-based compensation expense	12,847		12,847
Balance at Dec. 31, 2019	1,059,768	$ 521	$ 1,068,431	(15,027)	$ 5,843
Balance (in shares) at Dec. 31, 2019		52,078,258
Translation adjustment	$ (3,134)			$ (3,134)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Proceeds from issuance of common stock,issuance costs	$ 18,607	$ 8,691
0.375% Convertible Senior Notes due 2024
Senior convertible notes	0.375%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 21,411	$ 16,617	$ 28,353
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	20,868	15,778	10,507
Non-cash interest expense	7,536	4,248	3,977
Stock-based compensation expense	12,847	10,192	6,747
Deferred tax expense	(624)	71	(24,679)
Loss on extinguishment of debt	5,650
Other	663	(3)	64
Changes in operating assets and liabilities, excluding impact of acquisitions:
Accounts receivable	(7,726)	(6,101)	(6,888)
Royalties and other receivables	(104)	7	644
Unbilled receivables	2,146	(2,602)	0
Inventories	(9,314)	(4,042)	605
Prepaid expenses and other assets	(661)	(1,769)	(1,304)
Operating lease right of use assets	(4,662)
Accounts payable	662	2,266	807
Accrued expenses	13,096	(1,398)	(1,993)
Operating lease liability	5,447
Long-term liabilities	(19)	(494)	611
Total cash provided by operating activities	67,216	32,770	17,451
Cash flows from investing activities:
Purchases of marketable securities			(47)
Redemption of marketable securities			19,600
Additions to capitalized software costs	(4,650)	(2,147)
Developed technology intangible asset payment		(1,255)
Purchases of property, plant and equipment	(18,504)	(10,635)	(5,454)
Total cash used in investing activities	(205,308)	(14,037)	(98,696)
Cash flows from financing activities:
Proceeds from issuance of convertible debt, net	278,466
Proceeds from issuance of common stock, net	320,713		129,309
Exercise of stock options	1,167	3,418	2,351
Repayment of senior convertible notes	(114,989)	(11)
Payment of tax withholding obligation on vesting of restricted stock	(490)		(1,715)
Total cash provided by financing activities	484,867	3,407	129,945
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(3,190)	(2,077)	2,376
Net increase in cash, cash equivalents and restricted cash	343,585	20,063	51,076
Cash, cash equivalents and restricted cash, beginning of period	193,822	173,759	122,683
Cash, cash equivalents and restricted cash, end of period	537,407	193,822	173,759
Supplemental disclosure of cash flow information:
Income taxes paid	6,505	4,046	4,021
Interest paid	1,484	2,444	2,444
Supplemental disclosure of non-cash investing and financing activities:
Assets acquired under operating leases	8,663
Fair value of 2,316,229 shares of common stock issued for conversion of convertible notes	198,757
Non-cash effect of adoption of ASU 2016-16		5,609
Property, plant and equipment related to lease incentives		$ 2,270
Payment of contingent consideration in common stock			1,063
Spectrum Lifesciences Inc
Cash flows from investing activities:
Acquisition of assets, net of cash acquired			(112,795)
Supplemental disclosure of non-cash investing and financing activities:
Fair value of common stock issued for acquisition			$ 247,575
C Technologies Inc
Cash flows from investing activities:
Acquisition of assets, net of cash acquired	(182,154)
Supplemental disclosure of non-cash investing and financing activities:
Fair value of common stock issued for acquisition	$ 53,938

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Business Acquisitions:
Fair value of tangible assets acquired	$ 30,756	$ 19,709
Fair value of accounts receivable	3,044	5,075
Fair value of other assets	3,929	1,718
Deferred tax assets, net	895
Liabilities assumed	(35,383)	(7,698)
Fair value of stock issued	(53,938)	(247,575)
Cost in excess of fair value of assets acquired (Goodwill)	142,021	265,519
Acquired identifiable intangible assets	90,830	120,080
Deferred tax liabilities, net		(43,608)
Business Combination Considerations Transferred Net	182,154	113,220
Less working capital adjustment		(425)
Net cash paid for business acquisitions	$ 182,154	$ 112,795
Number of shares Issued for Conversion	2,316,229

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
Organization and Nature of Business	Dec. 31, 2019
Organization and Nature of Business	1. Organization and Nature of Business Repligen Corporation (NASDAQ:RGEN) is a global life sciences company that develops and commercializes highly innovative bioprocessing technologies and systems that increase efficiencies and flexibility in the process of manufacturing biological drugs. The Company’s franchises include Chromatography (OPUS ® ™ ™ ™ ® ® ® single-use ® ® worldwide. The Company operates under one reportable segment. The Company’s chief operating decision maker (“CODM”) reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. See Note 2, “Summary of Significant Accounting Policies – Segment Reporting,” Repligen’s corporate headquarters is in Waltham, Massachusetts (USA) and its manufacturing facilities are located in Waltham, Massachusetts; Marlborough, Massachusetts, Rancho Dominguez, California; Irving, Texas; Bridgewater, New Jersey; Lund, Sweden; and Weingarten, Germany. The Company is subject to a number of risks typically associated with companies in the biotechnology industry. These risks principally include the Company’s dependence on key customers, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with the FDA and other governmental regulations and approval requirements, as well as the ability to grow the Company’s business and obtain adequate funding to finance this growth.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2019
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions by management affect the Company’s revenue recognition for multiple element arrangements, allowance for doubtful accounts, the net realizable value of inventory, valuations and purchase price allocations related to business combinations, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets and goodwill, amortization methods and periods, warranty reserves, certain accrued expenses, stock-based compensation, tax reserves and recoverability of the Company’s net deferred tax assets and related valuation allowance. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Repligen Sweden AB, Repligen GmbH, Spectrum ® Singapore Pte. Ltd. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior year balances have changed to reflect current year presentation. Foreign Currency The Company translates the assets and liabilities of its foreign subsidiary at rates in effect at the end of the reporting period. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments, including adjustments related to the Company’s intercompany loan with Repligen Sweden AB and Repligen Sweden AB’s intercompany loan with Repligen GmbH, are remeasured at each period end and included in accumulated other comprehensive loss. R We generate revenue from the sale of bioprocessing products, equipment devices, and related consumables used with these equipment devices to customers in the life science and biopharmaceutical industries. Under Accounting Standard Codification No. (“ASC”) 606, “ Revenue from Contracts with Customers,” When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, Contracts with customers may contain multiple performance obligations. For such arrangements, the transaction price is allocated to each performance obligation based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes product revenue under the terms of each customer agreement upon transfer of control to the customer, which occurs at a point in time. Shipping and handling fees are recorded as a component of product revenue, with the associated costs recorded as a component of cost of product revenue. Risks and Uncertainties The Company evaluates its operations periodically to determine if any risks and uncertainties exist that could impact its operations in the near term. The Company does not believe that there are any significant risks which have not already been disclosed in the consolidated financial statements. A loss of certain suppliers could temporarily disrupt operations, although alternate sources of supply exist for these items. The Company has mitigated these risks by working closely with key suppliers, identifying alternate sources and developing contingency plans. Cash, Cash Equivalents and Restricted Cas h Cash and cash equivalents include cash on hand and on deposit. Highly liquid investments in money market mutual funds with an original maturity of three months or less are classified as cash equivalents. All cash equivalents are carried at cost, which approximates fair value. Restricted cash represents cash that is restricted as to withdrawal or usage. In connection with the Company’s acquisition of C Technologies on May 31, 2019, cash is being held and is due to employees based on their continued employment with the Company one year after the date of the close of the acquisition. As of December 31, 2019, $9.0 million, which represents this amount due to employees, is being carried as restricted cash on the Company’s consolidated balance sheet . The Company adopted Accounting Standard Update No. (“ASU”) 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” on January 1, 2018, which changed the presentation of the Company’s consolidated statements of cash flows and related disclosures for all periods presented. Accordingly, the following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in the Company’s consolidated statements of cash flows for the years ended December 31, 2019, 2018 and 2017: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash and cash equivalents $ 528,392 $ 193,822 $ 173,759 Restricted cash 9,015 — — Total cash, cash equivalents, and restricted cash $ 537,407 $ 193,822 $ 173,759 There were no realized gains or losses on investments for the years ended December 31, 2019, 2018 and 2017. Fair Value Measurement In determining the fair value of its assets and liabilities, the Company uses various valuation approaches. The Company employs a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 – Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly. Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level input that is significant to the overall fair value measurement. As of December 31, 2019 and 2018, cash and cash equivalents on the Company’s consolidated balance sheets included $ 415.6 s In July 2019, the Company issued $287.5 million aggregate principal amount of the Company’s 0.375% Convertible Senior Notes due July 15, 2024 semi-annually “Convertible Senior Notes , There were no remeasurements to fair value during the year ended December 31, 2019 of financial assets and liabilities that are not measured at fair value on a recurring basis. Inventories Inventories relate to the Company’s bioprocessing business. The Company values inventory at cost or, if lower, net realizable value, using the first-in, first-out work-in-process Manufacturing of bioprocessing finished goods is done to order and tested for quality specifications prior to shipment. A change in the estimated timing or amount of demand for the Company’s products could result in additional provisions for excess inventory quantities on hand. Any significant unanticipated changes in demand or unexpected quality failures could have a significant impact on the value of inventory and reported operating results. During all periods presented in the accompanying financial statements, there have been no material adjustments related to a revised estimate of inventory valuations. Work-in-process Lease Accounting The Company adopted ASU 2016-02, “Leases (Topic 842) A lease qualifies as a finance lease if any of the following criteria are met at the inception of the lease: (i) there is a transfer of ownership of the leased asset to the Company by the end of the lease an option to purchase the leased asset that it is reasonably certain to exercise, (iii) the lease term is for a major part of the remaining economic life of the leased asset, (iv) the present value of the sum of lease payments equals or exceeds substantially all of the fair value of the leased asset, or (v) the nature of the leased asset is specialized to the point that it is expected to provide the lessor no alternative use at the end of the lease term. All other leases are recorded as operating leases. Finance and operating lease assets and liabilities are recognized at the lease lease The Company does not separate lease and non-lease components when determining which lease payments to include in the calculation of its lease assets and liabilities. Variable lease payments are expensed as incurred. If a lease includes an option to extend or terminate the lease, the Company reflects the option in the lease term if it is reasonably certain it will exercise the option. Finance leases are recorded in property, plant and equipment, net, other current liabilities and long-term finance lease liabilities and operating leases are recorded in operating lease right of use assets, operating lease liability and operating lease liability, long-term on the Company’s consolidated balance sheet. Certain of the Company’s operating leases where the Company is the lessee provide for minimum annual payments that increase over the life of the lease. Some of these leases include obligations to pay for other services, such as operations and maintenance. For leases of property, the Company accounts for these other services as a component of the lease. The aggregate minimum annual payments are expensed on the straight-lined basis beginning when the Company takes possession of the property and extending over the term of the related lease, including renewal options when the exercise of the option is reasonably assured as an economic penalty may be incurred if the option is not exercised. The Company also accounts in its straight-line computation for the effect of any “rental holidays.” Operating lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of the fixed lease payments, reduced by landlord incentives using a discount rate based on similarly secured borrowings available to the Company. Most of the leases do not provide implicit interest rates and therefore the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for the Company’s leases is determined based on lease term and currency in which the lease payments are made. Accrued Liabilities The Company estimates accrued liabilities by identifying services performed on the Company’s behalf, estimating the level of service performed and determining the associated cost incurred for such service as of each balance sheet date. For example, the Company would accrue for professional and consulting fees incurred with law firms, audit and accounting service providers and other third-party consultants. These expenses are determined by either requesting those service providers to estimate unbilled services at each reporting date for services incurred or tracking costs incurred by service providers under fixed fee arrangements. The Company has processes in place to estimate the appropriate amounts to record for accrued liabilities, which principally involve the applicable personnel reviewing the services provided. In the event that the Company does not identify certain costs that have begun to be incurred or the Company under or over-estimates the level of services performed or the costs of such services, the reported expenses for that period may be too low or too high. The date on which certain services commence, the level of services performed on or before a given date, and the cost of such services often require the exercise of judgment. The Company makes these judgments based upon the facts and circumstances known at the date of the financial statements. Income Taxes Deferred taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are provided, if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions using a “more-likely-than-not” Property, Plant & Equipment Property, plant & equipment is recorded at cost less allowances for depreciation. Depreciation is calculated using the straight-line method over the estimated useful life of the asset as follows Classification Estimated Useful Life Buildings Thirty years Leasehold improvements Shorter of the term of the lease or estimated useful life Equipment Three Furniture, fixtures and office equipment Three Computer hardware and software Three Upon disposal of Property, plant & equipment, the cost of the asset and the accumulated depreciation are removed from the accounts and the resulting gain or loss is reflected in earnings. Fully depreciated assets are not removed from the accounts until they are physically disposed Earnings Per Share Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares and dilutive common share equivalents then outstanding. Potential common share equivalents consist of restricted stock awards and the incremental common shares issuable upon the exercise of stock options and warrants. Under the treasury stock method, unexercised “in-the-money” A reconciliation of basic and diluted share amounts is as follows: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands, except per share data) Net income $ 21,411 $ 16,617 $ 28,353 Weighted average shares used in computing net income per share - basic 48,343 43,767 38,234 Effect of dilutive shares: Stock options and restricted stock awards 864 581 441 Convertible senior notes — 1,123 475 Dilutive potential common shares 864 1,704 916 Weighted average shares used in computing net income per share - diluted 49,206 45,471 39,150 Earnings per share: Basic $ 0.44 $ 0.38 $ 0.74 Diluted $ 0.44 $ 0.37 $ 0.72 At December 31, 2019, there were outstanding options to purchase 957,559 shares of the Company’s common stock at a weighted average exercise price of $30.81 per share and 734,984 shares of common stock issuable upon the vesting of stock units which include restricted stock units and performance stock units. For the year ended December , , shares of the Company’s common stock were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and were therefore, anti-dilutive . At December 31, 2018, there were outstanding options to purchase 998,226 shares of the Company’s common stock at a weighted average exercise price of $27.54 per share and 705,413 shares of common stock issuable upon the vesting of stock units. For the year ended December 31, 2018, shares of the Company’s common stock were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and were therefore, anti-dilutive. At December 31, 2017, there were outstanding options to purchase 734,940 shares of the Company’s common stock at a weighted average exercise price of $20.80 per share and 505,235 shares of common stock issuable upon the vesting of stock units. For the year ended December 31, 2017, 317,923 shares of the Company’s common stock were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and were therefore, anti-dilutive. As provided by the terms of the indenture underlying the senior convertible notes, the Company has a choice to settle the conversion obligation for the Convertible Notes in cash, shares or any combination of the two. The Company currently intends to settle the par value of the Convertible Notes in cash and any excess conversion premium in shares. The Company applies the provisions of ASC 260, “Earnings Per Share”, 10-45-44, tible Notes. The dilutive effect of the conversion premium included in the calculation of diluted earnings per share was 0 shares , 1,123,139 shares and 474,923 shares for the years ended December 31, 2019, 2018 and 2017 , respectively . Segment Reporting The Company views its operations, makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. As a result, the financial information disclosed herein represents all of the material financial information related to the Company. The following table represents product revenues by product line: For the Years Ended December 31, 2019 (1) 2018 2017 (2) (Amounts in thousands) Chromatography products $ 64,635 $ 45,326 $ 36,309 Filtration products 119,534 90,586 49,050 Process analytics products 16,405 — — Protein s 65,124 54,375 53,969 Other 4,399 3,604 1,761 Total product revenue $ 270,097 $ 193,891 $ 141,089 (1) 2019 revenue for process analytics products includes revenue related to C Technologies from May 31, 2019 through December 31, 2019. (2) 2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017. Revenue from chromatography products includes the OPUS chromatography PPCs, chromatography resins and ELISA test kits. Revenue from filtration products includes the XCell ATF systems and consumables as well as the KrosFlo and SIUS filtration products. Revenue from process analytics products includes the SoloVPE and FlowVPE devices. Revenue from protein products includes the Protein A affinity ligands and cell culture growth factors. Other revenue primarily consists of revenue from the sale of operating room products to hospitals as well as freight revenue. The following table represents the Company’s total revenue by geographic area (based on the location of the customer): For the Years Ended December 31, 2019 2018 2017 Revenue by customers’ geographic locations: North America 51 % 48 % 43 % Europe 37 % 40 % 46 % APAC 12 % 12 % 11 % Other 0 % 0 % 0 % Total revenue 100 % 100 % 100 % The following table represents the Company’s total assets by geographic area: December 31, 2019 2018 (Amounts in thousands) Total assets by geographic locations: North America $ 1,260,217 $ 665,833 Europe 133,599 104,750 APAC 6,297 4,038 Total assets by geographic location $ 1,400,113 $ 774,621 The following table represents the Company’s long-lived assets by geographic area: December 31, 2019 2018 (Amounts in thousands) Long-lived assets by geographic locations: North America $ 66,756 $ 26,344 Europe 6,775 5,162 APAC 869 848 Total long-lived assets by geographic location $ 74,400 $ 32,354 Concentrations of Credit Risk and Significant Customers Financial instruments that subject the Company to significant concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities and accounts receivable. Per the Company’s investment policy, cash equivalents and marketable securities are invested in financial instruments with high credit ratings and credit exposure to any one issue, issuer (with the exception of U.S. treasury obligations) and type of instrument is limited. At December 31, 2019 and 2018, the Company had no investments associated with foreign exchange contracts, options contracts or other foreign hedging arrangements. Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. While a reserve for the potential write-off . Revenue from significant customers that represent 10% or more of the Company’s total revenue is as follows: For the Years Ended December 31, 2019 2018 2017 MilliporeSigma 13 % 15 % 18 % GE Healthcare 12 % 15 % 21 % Significant accounts receivable balances representing 10% or more of the Company’s total trade accounts receivable and royalties and other receivable balances are as follows: December 31, 2019 2018 GE Healthcare 18 % 17 % MilliporeSigma N/A 11 % Business Combinations, Goodwill and Intangible Assets Business Combinations Total consideration transferred for acquisitions is allocated to the assets acquired and liabilities assumed, if any, based on their fair values at the dates of acquisition. This purchase price allocation process requires management to make significant estimates and assumptions with respect to intangible assets and deferred revenue. The fair value of identifiable intangible assets is based on detailed valuations that use information and assumptions determined by management. Any excess of purchase price over the fair value of the net tangible and intangible assets acquired is allocated to goodwill. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, that the Company’s estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of comprehensive income. Any excess of the fair value of the net tangible and intangible assets acquired over the purchase price is recognized in the consolidated The Company uses the income approach to determine the fair value of certain identifiable intangible assets including customer relationships and developed technology. This approach determines fair value by estimating after-tax after-tax Goodwill Goodwill is not amortized and is reviewed for impairment at least annually at the reporting unit level. As of December 31, 2018, the Company concluded that it operated as two reporting units and performed the 2018 goodwill impairment test using two reporting units. In 2019, the Company reorganized its reporting structure and changed the way the CODM views the Company’s operations and allocates its resources. Accordingly, the Company operates as one reporting unit as of the goodwill impairment measurement date of December 31, 2019. There was no impairment to goodwill at December 31, 2019 and 2018. There were no goodwill impairment charges during the years ended December 31, 2019, 2018 and 2017. Intangible Assets Intangible assets with a definite life are amortized over their useful lives using the straight-line method and the amortization expense is recorded within cost of product revenue and selling, general and administrative expense in the consolidated statements of comprehensive income. Intangible assets and their related useful lives are reviewed at least annually to determine if any adverse conditions exist that would indicate the carrying value of these assets may not be recoverable. More frequent impairment assessments are conducted if certain conditions exist, including a change in the competitive landscape, any internal decisions to pursue new or different technology strategies, a loss of a significant customer, or a significant change in the marketplace, including changes in the prices paid for the Company’s products or changes in the size of the market for the Company’s products. If impairment indicators are present, the Company determines whether the underlying intangible asset is recoverable through estimated future undiscounted cash flows. If the asset is not found to be recoverable, it is written down to the estimated fair value of the asset based on the sum of the future discounted cash flows expected to result from the use and disposition of the asset. If the estimate of an intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. The Company continues to believe that its definitive-lived intangible assets are recoverable at December 31, 2019. Indefinite-lived intangible assets are reviewed for impairment at least annually. There has been no impairment of our intangible assets for the periods presented. Stock Based Compensation The Company measures stock-based compensation cost at the grant date based on the estimated fair value of the award and recognizes it as expense over the employee’s requisite service period on a straight-line basis. The Company records the expense for share-based awards subject to performance-based milestone vesting over the remaining service period when management determines that achievement of the milestone is probable. Management evaluates whether the achievement of a performance-based milestone is probable as of the reporting date. The Company has no awards that are subject to market conditions. The Company recognizes stock-based compensation expense based upon options that are ultimately expected to vest, and accordingly, such compensation expense has been adjusted by an amount of estimated forfeitures. The Company uses the Black-Scholes option pricing model to calculate the fair value of share-based awards on the grant date. The following assumptions are used in calculating the fair value of share-based awards: Expected term Expected volatility Risk-free interest rate zero-coupon Expected dividend yield Estimated forfeiture rates non-executive non-employee Advertising Costs The Company expenses advertising costs as they are incurred. Advertising expense for the years ended December 31, 2019, 2018 and 2017 was $0.1 million, $0.2 million and $0.2 million, respectively. Recent Accounting Standards Updates The Company considers the applicability and impact of all Accounting Standards Updates on its consolidated financial statements. Updates not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s consolidated financial position or results of operations. Recently issued Accounting Standards Updates which the Company believes may be applicable are as follows: Recently Issued Accounting Standard Updates – Not Yet Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.” 2018-13 effectiveness of fair value measurement disclosures. The amendments in this guidance modify the disclosure requirements on fair value measurements based on the concepts in FASB Concepts Statement, “Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements ” In August 2018, the FASB issued ASU 2018-15, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” 2018-15 internal-use internal-use In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326).” 2016-13 2016-13 loss with an expected credit loss model that requires entities to estimate an expected lifetime credit loss on financial assets and certain other instruments, including short-term trade receivables and contract assets, and expands disclosure requirements for credit quality of financial assets. ASU 2016-13 becomes effective for the Company in the year ending December , , including interim periods. Early adoption is permitted. The Company will adopt this guidance in the first quarter of . The Company continues to assess all potential impacts that the adoption of this guidance will have on its consolidated financial statements and is continuing to finalize its calculations for credit losses. Based on the composition of the Company’s investment portfolio, accounts receivable, current market conditions and historical credit loss activity, the Company does not expect there to be a material impact on its financial position, results of operations or cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes.” 2019-12 year-to-date 2019-12 2019-12 Recently Issued Accounting Standard Updates – Adopted During the Period In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” 2016-02, 2016-02 right-of-use 2016-02 2018-11, “Leases – Targeted Improvements (Topic 842),” 2018-11 (i) whether expired or existing contracts contain leases; (ii) lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. As a result, the consolidated balance sheet prior to January 1, 2019 was not restated, continues to be reported under ASC 840, “Leases”, non-lease beginning retained upon adoption of ASC 842. See Note 4, “Leases,” below for more on the Company’s adoption of ASC 842.

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2019
Acquisitions	3. Acquisitions C Technologies On April 25, 2019, Repligen agreed to acquire C Technologies, pursuant to the terms of a Stock Purchase Agreement (the “Agreement”), by and among Repligen, C Technologies and Craig Harrison, an individual and sole stockholder of C Technologies (such acquisition, the “C Technologies Acquisition”). C Technologies’ business consists of two major product categories (i) biotechnology, or Biotech, and (ii) Legacy and Other. Through its Biotech category, C Technologies sells instruments, consumables and accessories that are designed to allow bioprocessing technicians to measure the protein concentration of a liquid sample using C Technologies’ Slope Spectroscopy ® off-line at-line in-line Consideration Transferred The C Technologies Acquisition was accounted for as a purchase of a business under ASC 805, “Business Combinations” t he issuance of was was was The consideration and purchase price information has been prepared using a valuation that ; h Total consideration transferred is as follows (amounts in thousands): Cash consideration $ 185,949 Equity consideration 53,938 Fair value of net assets acquired $ 239,887 Acquisition - Acquisition. For the year ended December 31, 2019, the Company recognized $5.2 million of compensation expense associated with this amount due to employees. Fair Value of Net Assets Acquired The allocation of purchase price is based on the fair value of assets acquired and liabilities assumed as of the acquisition date, based on the preliminary valuation. The Company obtains this information during due diligence and through other sources. In the months after closing, the Company may obtain additional information about these assets and liabilities as it learns more about C Technologies and will refine the estimates of fair value to more accurately allocate the purchase price. Only items identified as of the acquisition date are considered for subsequent adjustment. We will make appropriate adjustments to the purchase price allocation, if any, prior to the completion of the measurement period, which is up to one year from the acquisition date. The components and allocation of the purchase price consists of the following amounts (amounts in thousands): Cash and cash equivalents $ 3,795 Restricted cash 26,933 Accounts receivable 3,044 Inventory 3,783 Prepaid expenses and other current assets 93 Fixed assets 40 Operating lease right of use asset 3,836 Customer relationships 59,680 Developed technology 28,920 Trademark and tradename 1,570 Non-competition agreements 660 Goodwill 142,021 Deferred taxes 895 Accounts payable (436 ) Accrued liabilities (2,474 ) Accrued bonus (26,928 ) Deferred revenue (1,709 ) Operating lease liability (51 ) Operating lease liability, long-term (3,785 ) Fair value of net assets acquired $ 239,887 Acquired Goodwill The goodwill of $142.0 million represents future economic benefits expected to arise from synergies from combining operations and commercial organizations to increase market presence and the extension of existing customer relationships. Substantially all of the goodwill recorded is expected to be deductible for income tax purposes. Pursuant to the Company’s business combination accounting policy included in Note 2, “Summary of Significant Accounting Policies – Business Combinations, Goodwill and Intangible Assets,” measurement period (up to one year from the date of the acquisition). In December 2019, the Company recorded a deferred tax asset for the C Technologies Acquisition of $0.9 million as an adjustment to goodwill. Intangible Assets The following table sets forth the components of the identified intangible assets associated with the C Technologies Acquisition and their estimated useful lives: Useful life Fair Value (Amounts in thousands) Customer relationships 17 years $ 59,680 Developed technology 18 years 28,920 Trademark and tradename 20 years 1,570 Non-competition 4 years 660 Total $ 90,830 Revenue, Net Income and Pro Forma Presentation The Company recorded revenue from C Technologies of $ 16.4 on the expense and an The following pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the acquisition and is not necessarily indicative of the operating results that would have actually occurred had the transaction been consummated on January 1, 2018 or of future results: December 31, 2019 2018 (Amounts in thousands, Total revenue $ 279,434 $ 217,739 Net income $ 23,394 $ 21,195 Earnings per share: Basic $ 0.48 $ 0.44 Diluted $ 0.48 $ 0.43 Prior to the C Technologies Acquisition, C Technologies did not generate monthly or quarterly financial statements that were prepared in accordance with U.S. GAAP. Spectrum LifeSciences, LLC On August 1, 2017, the Company completed the acquisition of Spectrum pursuant to the terms of an Agreement and Plan of Merger and Reorganization, dated as of June 22, 2017 (such acquisition, the “Spectrum Acquisition”). Spectrum is a diversified filtration company with a differentiated portfolio of hollow fiber (“HF”) cartridges, benchtop to commercial scale filtration and perfusion systems and a broad portfolio of disposable and single-use Spectrum’s filtration products include its KrosFlo line of hollow fiber cartridges, TFF systems and single-use ® single-use Module-Bag-Tubing ® Consideration Transferred The Company accounted for the Spectrum Acquisition as a purchase of a business under ASC 805, “Business Combinations.” of unregistered shares of the Company’s common stock totaling $ million and a working capital adjustment of $ million for a total purchase price of $ million. Under the acquisition method of accounting, the assets of Spectrum were recorded as of the acquisition date, at their respective fair values, and consolidated with those of the Company. The fair value of the net assets acquired was $ million. The consideration and purchase price information has been prepared using a valuation that required the use of significant assumptions and estimates in its preparation. Critical estimates included, but were not limited to, future expected cash flows, including projected revenues and expenses, and the applicable discount rates. These estimates were based on assumptions that the Company believes to be reasonable; however, actual results may differ from these estimates. The total consideration transferred follows (amounts in thousands): Cash consideration $ 122,932 Equity consideration 247,575 Working capital adjustment 425 Net assets acquired $ 370,932 Acquisition-related costs are not included as a component of consideration transferred but are expensed in the periods in which the costs are incurred. The Company incurred $2.9 million and $7.1 million in integration costs related to the Spectrum Acquisition in 2018 and 2017, respectively. These costs are primarily included in selling, general and administrative expenses in the consolidated statements of comprehensive income. Revenue, Net Income and Pro Forma Presentation The Company recorded revenue from Spectrum of $19.4 million from August 1, 2017 through December 31, 2017. The Company has included the operating results of Spectrum in its consolidated statements of comprehensive income since the August 1, 2017 acquisition date. The following table presents unaudited supplemental pro forma information as if the Spectrum Acquisition had occurred as of January 1, 2017 (amounts in thousands, except per share data): December 31, 2017 Total revenue $ 162,913 Net income (loss) $ 17,220 Earnings (loss) per share: Basic $ 0.41 Diluted $ 0.40 The unaudited pro forma information for the years ended December 31, 2017 was calculated after applying the Company’s accounting policies and the impact of acquisition date fair value adjustments. Unaudited pro forma net income for year ended December 31, 2017 was adjusted to exclude acquisition-related transaction costs, nonrecurring expenses related to the fair value adjustments associated with the acquisition and income tax benefits resulting from the acquisition. In addition, the unaudited pro forma net income for the year ended December 31, 2017 was adjusted to include incremental amortization of intangible assets. These items have been factored to the unaudited pro forma net income for the year ended December 31, 2017. These pro forma condensed consolidated financial results have been prepared for comparative purposes only and include certain adjustments to reflect the pro forma results of operations as if the acquisition had occurred as of the beginning of the periods presented, such as fair value adjustments to inventory and increased amortization for the fair value of acquired intangible assets. The pro forma information does not reflect the effect of costs or synergies that would have been expected to result from the integration of the acquisition. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the combination occurred at the beginning of each period presented, or of future results of the consolidated entities.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2019
Leases	4. Leases On January 1, 2019, the Company adopted ASC 842 using the optional transition method which allows entities to initially apply the lease accounting transition requirements at the adoption date and recognize a cumulative effect adjustment to the opening balance sheet of retained earnings in the period of adoption without restating comparative prior periods presented. The Company recorded operating lease right of use assets of $17.0 million and operating lease liabilities of $21.0 million as of January 1, 2019. The difference between the right of use assets and the lease liabilities was due to $4.0 million of unamortized lease incentives and deferred rent at the Company’s Waltham and Marlborough facilities as of December 31, 2018. The Company is a lessee under leases of manufacturing facilities, office spaces, machinery, certain office equipment, vehicles and information technology equipment. A majority of the Company’s leases are operating leases with remaining lease terms between two months and 11 years. Finance leases are immaterial to the Company’s consolidated financial statements. The Company determines if an arrangement qualifies as a lease and what type of lease it is at inception. The Company elected the package of practical expedients permitted under the transition guidance within the new lease standard, which among other things, allowed it to continue to account for existing leases based on the historical lease classification. The Company also elected the practical expedients to combine lease and non-lease Some of the lease agreements the Company enters into include Company options to either extend and/or early terminate the lease, the costs of which are included in the Company’s operating lease liabilities to the extent that such options are reasonably certain of being exercised. Leases with renewal options allow the Company to extend the lease term typically between 1 and 5 years per option, some of its leases have multiple options to extend. When determining if a renewal option is reasonably certain of being exercised, the Company considers several economic factors, including but not limited to, the significance of leasehold improvements incurred on the property, whether the asset is difficult to replace, underlying contractual obligations, or specific characteristics unique to that particular lease that would make it reasonably certain that the Company would exercise such options. As of December 31, 2019, operating lease right of use assets were $25.7 million and operating lease liabilities were $30.6 million. Two material leases, as defined under ASC 842, to expand the Company’s facility in Waltham, Massachusetts commenced during the third quarter of 2019. As a result, the operating right of use asset and operating lease liability balances increased by a total of $6.1 million on their commencement dates. Amounts related to financing leases were immaterial. The maturity of the Company’s operating lease liabilities as of December 31, 2019 are as follows (amounts in thousands): As of December 31, 2019 Amount 2020 $ 3,692 2021 5,812 2022 4,830 2023 3,911 2024 3,514 2025 and thereafter 16,511 Total future minimum lease payments 38,270 Less: amount of lease payment representing interest 7,718 Total operating lease liabilities $ 30,552 Total operating lease liabilities is included on the Company’s consolidated balance sheet is as follows (amounts in thousands): As of December 31, 2019 Operating lease liability $ 3,557 Operating lease liability, long-term 26,995 Minimum operating lease payments $ 30,552 Lease expense for these leases is recognized on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. For the year ended December 31, 2019, total lease cost is comprised of the following: Year Ended Lease Cost December 3 1 (Amounts in thousands) Operating lease cost $ 4,480 Variable operating lease cost 1,480 Lease cost $ 5,960 The following information represents supplemental disclosure for the consolidated statements of cash flows related to operating leases (amounts in thousands): Year Ended December 31, 2019 Operating cash flows from operating leases $ (4,004 ) Most of the leases do not provide implicit interest rates and therefore the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for the Company’s leases is determined based on lease term and currency in which the lease payments are made. The weighted average remaining lease term and the weighted average discount rate used to measure the Company’s operating lease liabilities as of December 31, 2019 were: Weighted average remaining lease term (years) 8.05 Weighted average discount rate 4.91 %

Revenue Recognition

Revenue Recognition	12 Months Ended
Revenue Recognition	Dec. 31, 2019
Revenue Recognition	5. Revenue Recognition Adoption of ASC Topic 606, Revenue from Contracts with Customers The Company adopted ASC 606 on January 1, 2018, using the modified retrospective method for all contracts not completed as of the date of adoption. For contracts that were modified before the effective date, the Company reflected the aggregate effect of all modifications when identifying performance obligations and allocating transaction price in accordance with the practical expedient in paragraph ASC 606-10-65-1 -(f)-4, Disaggregation of Revenue Revenue for the years ended December 31, 2019, 2018 and 2017 was as follows (amounts in thousands, except percentages): For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Product r $ 270,097 $ 193,891 $ 141,089 Royalty and other income 148 141 147 Total revenue $ 270,245 $ 194,032 $ 141,236 When disaggregating revenue, the Company considered all of the economic factors that may affect its revenues. Because all of its revenues are from bioprocessing customers, there are no differences in the nature, timing and uncertainty of the Company’s revenues and cash flows from any of its product lines. However, given that the Company’s revenues are generated in different geographic regions, factors such as regulatory and geopolitical factors within those regions could impact the nature, timing and uncertainty of the Company’s revenues and cash flows. In addition, a significant portion of the Company’s revenues are generated from two customers; therefore, economic factors specific to these two customers could impact the nature, timing and uncertainty of the Company’s revenues and cash flows. Disaggregated revenue from contracts with customers by geographic region can be found in Note 2., “Summary of Significant Accounting Policies – Segment Reporting,” Revenue from significant customers is as follows (amounts in thousands): For the Years Ended December 31, 2019 2018 2017 MilliporeSigma $ 36,190 $ 29,843 $ 25,061 GE Healthcare $ 31,441 $ 29,616 $ 30,150 Chromatography Products The Company’s chromatography products include a number of products used in the downstream purification and quality control of biological drugs. The majority of chromatography revenue relates to the OPUS pre-packed Filtration Products The Company’s filtration products generate revenue through the sale of KrosFlo HF TFF membranes and modules, ProConnex single-use The Company markets its portfolio of HF filtration solutions, including our KrosFlo TFF Systems with Konduit monitor and the ProConnex line of single-use include components and consumables as well as training and installation services at the request of the customer. Because the initial sale of components and consumables are necessary for the operation of the system, such items are combined with the systems as a single performance obligation. Training and installation services do not significantly modify or customize these systems and therefore represent a distinct performance obligation. The Company’s other filtration product offerings are not highly interdependent of one another and are therefore considered distinct products that represent separate performance obligations. Revenue on these products is generally recognized at a point in time upon transfer of control to the customer. The Company invoices the customer for the installation and training services in an amount that directly corresponds with the value to the customer of the Company’s performance to date; therefore, revenue recognized is based on the amount billable to the customer in accordance with the practical expedient under ASC 606-10-55-18. The Company also markets flat sheet TFF cassettes and hardware. TFF is a rapid and efficient method for separation and purification of biomolecules that is widely used in laboratory, process development and process scale applications in biopharmaceutical manufacturing. The Company’s single-use The Company also markets the XCell ATF system, a technologically advanced filtration device used in upstream processes to continuously remove cellular metabolic waste products during the course of a fermentation run, freeing healthy cells to continue producing the biologic drug of interest. XCell ATF systems typically include a filtration system and consumables (i.e., tube devices, metal stands) as well as training and installation services at the request of the customer. The filtration system and consumables are considered distinct products and therefore represent separate performance obligations. First time purchasers of the systems typically purchase a controller that is shipped with the tube device(s) and metal stand(s). The controller is not considered distinct as it is a proprietary product that is highly interdependent with the filtration system; therefore, the controller is combined with the filtration system and accounted for as a single performance obligation. The training and installation services do not significantly modify or customize the XCell ATF system and therefore represent a distinct performance obligation. XCell ATF system product revenue related to the filtration system (including the controller if applicable) and consumables is generally recognized at a point in time upon transfer of control to the customer. XCell ATF system service revenue related to training and installation services is generally recognized over time, as the customer simultaneously receives and consumes the benefits as the Company performs. The Company invoices the customer for the installation and training services in an amount that directly corresponds with the value to the customer of the Company’s performance to date; therefore, revenue recognized is based on the amount billable to the customer in accordance with the practical expedient under ASC 606-10-55-18. Process Analytics Products On May 31, 2019, the Company consummated its acquisition of C Technologies and added a fourth franchise, Process Analytics, to its bioprocessing business. The Process Analytics franchise generates revenue primarily through the sale of the SoloVPE and FlowVPE Slope Spectroscopy systems. These products will complement and support the Company’s existing Filtration, Chromatography and Proteins franchises as they allow end users to make in-line Protein Products The Company’s Protein franchise generates revenue through the sale of Protein A affinity ligands and growth factors. Protein A ligands are an essential component of Protein A chromatography resins (media) used in the purification of virtually all mAb-based . Other Products The Company’s other products include operating room products sold to hospitals. Other product revenue is generally recognized at a point in time upon transfer of control to the customer. Transaction Price Allocated to Future Performance Obligations Remaining performance obligations represents the transaction price of contracts for which work has not been performed or has been partially performed. The Company’s future performance obligations relate primarily to the installation and training of certain of its systems sold to customers. These performance obligations are completed within one year of receipt of a purchase order from its customers. Accordingly, the Company has elected to not disclose the value of these unsatisfied performance obligations as provided under ASC 606-10-50-14. Contract Balances from Contracts with Customers The following table provides information about receivables and deferred revenue from contracts with customers as of December 31, 2019 (amounts in thousands): 2019 Balances from contracts with customers only: Accounts receivable $ 43,068 Deferred revenue (included in accrued liabilities in the consolidated balance sheets) 5,005 Revenue recognized during 2019 relating to: The beginning deferred revenue balance $ 833 Changes in pricing related to products or services satisfied in previous periods — The timing of revenue recognition, billings and cash collections results in the accounts receivables and deferred revenue balances on the Company’s consolidated balance sheets. There were no impairment losses on receivables during the year ending December 31, 2019. A contract asset is created when the Company satisfies a performance obligation by transferring a promised good to the customer. Contract assets may represent conditional or unconditional rights to consideration. The right is conditional, and recorded as a contract asset, if the Company must first satisfy another performance obligation in the contract before it is entitled to payment from the customer. Contract assets are transferred to billed receivables once the right becomes unconditional. If the Company has the unconditional right to receive consideration from the customer, the contract asset is accounted for as a billed receivable and presented separately from other contract assets. A right is unconditional if nothing other than the passage of time is required before payment of that consideration is due. When consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after control of the products or services is transferred to the customer and all revenue recognition criteria have been met. Costs to Obtain or Fulfill a Customer Contract The Company’s sales commission structure is based on achieving revenue targets. The commissions are driven by revenue derived from customer purchase orders which are short term in nature. Applying the practical expedient in paragraph , the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in selling, general, and administrative expenses. When shipping and handling costs are incurred after a customer obtains control of the products, the Company accounts for these as costs to fulfill the promise and not as a separate performance obligation.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
Goodwill and Intangible Assets	Dec. 31, 2019
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets Goodwill Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment at least annually in accordance with ASC 350. The following table represents the changes in the carrying value of goodwill for the years ended December 31, 2019 and 2018 (amounts in thousands): Balance as of December 31, 2017 $ 327,333 Goodwill adjustment related to Spectrum Lifesciences, LLC acquisition 203 Cumulative translation adjustment (801 ) Balance as of December 31, 2018 $ 326,735 Acquisition of C Technologies, Inc. 142,021 Cumulative translation adjustment (343 ) Balance as of December 31, 2019 $ 468,413 (1) I n December 2019, the Company recorded a deferred tax asset for the C Technologies acquisition of $0.9 million as an adjustment to goodwill. During each of the fourth quarters of 2019, 2018 and 2017, the Company completed its annual impairment assessments and concluded that goodwill was not impaired in any of those years. Intangible Assets Intangible assets with a definitive life are amortized over their useful lives using the straight-line method and the amortization expense is recorded within cost of product revenue and selling, general and administrative expense in the Company’s cons o dated Indefinite-lived intangible assets are tested Intangible assets, net consisted of the following at December 31, 2019: December 31, 2019 Gross Accumulated Amortization Net Weighted (in years) (Amounts in thousands) Finite-lived intangible assets: Technology - $ 82,169 $ (9,669 ) $ 72,500 19 Patents 240 (240 ) — 8 Customer relationships 160,825 (25,642 ) 135,183 15 Trademarks 3,752 (333 ) 3,419 20 Other intangibles 1,697 (947 ) 750 3 Total finite-lived intangible assets 248,683 (36,831 ) 211,852 16 Indefinite-lived intangible asset: Trademarks 700 — 700 — Total intangible assets $ 249,383 $ (36,831 ) $ 212,552 Intangible assets consisted of t h December 31, 2018 Gross Accumulated Amortization Net Weighted (in years) (Amounts in thousands) Finite-lived intangible assets: Technology - $ 53,315 $ (5,942 ) $ 47,373 19 Patents 240 (240 ) — 8 Customer relationships 101,460 (16,609 ) 84,851 14 Trademarks 2,160 (159 ) 2,001 20 Other intangibles 1,061 (548 ) 513 3 Total finite-lived intangible assets 158,236 (23,498 ) 134,738 16 Indefinite-lived intangible asset: Trademarks 700 — 700 — Total intangible assets $ 158,936 $ (23,498 ) $ 135,438 Amortization expense for finite-lived intangible assets was $13.6 million, $10.6 million and $6.2 million for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019, the Company expects to record the following amortization Estimated Amortization For the Years Ended December 31, Expense 2020 $ 15,288 2021 14,813 2022 14,811 2023 14,715 2024 14,273 2025 and thereafter 137,952 Total $ 211,852

Consolidated Balance Sheet Deta

Consolidated Balance Sheet Detail	12 Months Ended
Consolidated Balance Sheet Detail	Dec. 31, 2019
Consolidated Balance Sheet Detail	7. Consolidated Balance Sheet Detail Inventories, net Inventories, net consists of the following: December 31, 2019 2018 (Amounts in thousands) Raw materials $ 29,328 $ 24,937 Work-in-process 8,360 5,185 Finished products 17,144 12,141 Total inventories, net $ 54,832 $ 42,263 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: December 31, 2019 2018 (Amounts in thousands) Equipment maintenance and services $ 1,662 $ 1,677 Prepaid taxes 2,719 843 Prepaid insuran c 80 629 Deferred costs — 55 Other 1,456 697 Total prepaid expenses and other current assets $ 5,917 $ 3,901 Property, Plant and Equipment Property, plant and equipment consist of the following: December 31, 2019 2018 (Amounts in thousands) Land $ 1,023 $ 1,023 Buildings 764 764 Leasehold improvements 23,905 16,259 Equipment 36,257 24,092 Furniture, fixtures and office equipment 6,312 4,914 Computer hardware and software 8,810 534 Construction in progress (1) 6,707 12,906 Other 56 — Total property, plant and equipment 83,834 60,492 Less - (35,379 ) (28,312 ) Total property, plant and equipment, net $ 48,455 $ 32,180 (1) Construction in progress as of December 31, 2019 primarily includes million for the buildout of the Company’s Waltham and Marlborough, Massachusetts facilities, million of other manufacturing improvements in Waltham and Marlboro, million in manufacturing improvements at the Company’s Rancho Dominguez, California facility and $0.4 million for a buildout at the Company’s Bridgewater, New Jersey facility. Construction in progress as of December 31, 2018 includes $7.3 million for the buildout of the Company’s Marlborough facility, $2.1 million in capitalized internal-use Depreciation expense totaled $7.3 million, $5.2 million and $4.2 million in the fiscal years ended December 31, 2019, 2018 and 2017, respectively. Accrued Liabilities Accrued liabilities consist of the following: December 31, 2019 2018 (Amounts in thousands) Employee compensation $ 19,850 $ 9,953 Taxes 3,874 1,024 Royalty and license fees 123 242 Warranties 1,500 546 Professional fees 1,081 942 Deferred revenue 5,005 1,290 Other 1,898 1,868 Total accrued liabilities $ 33,331 $ 15,865

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2019
Income Taxes	8. Income Taxes The components of income before income taxes are as follows: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Domestic $ (5,432 ) $ (73 ) $ (6,709 ) Foreign 31,583 21,509 13,957 Income before income taxes $ 26,151 $ 21,436 $ 7,248 The components of the income tax provision (benefit) are as follows: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Components of the income tax provision (benefit): Current $ 8,290 $ 4,354 $ 3,624 Deferred (5,287 ) 465 (24,729 ) Equity 1,737 — — Total $ 4,740 $ 4,819 $ (21,105 ) Jurisdictional components of the income tax provision (benefit): Federal $ (965 ) $ (393 ) $ (24,012 ) State (1,764 ) 718 (438 ) Foreign 7,469 4,494 3,345 Total $ 4,740 $ 4,819 $ (21,105 ) During 2019 , the Company generated $0.1 million in foreign net operating losses and $0.2 million in state net operating losses. During 2018, the Company utilized its remaining U.S. net operating loss carryforwards of $ 19.5 9 of $1.2 million and state business tax credit carryforwards of $ 0.9 million available to reduce future domestic income taxes. The business tax credits carryforwards will expire at various dates through December 2039. The business tax credit are subject to review and possible adjustment by the Internal Revenue Service and may be limited in the event of certain changes in the ownership interest of significant stockholders. The components of deferred income taxes are as follows: December 31, 2019 2018 (Amounts in thousands) Deferred tax assets: Temporary timing differences: Stock-based compensation expense $ 2,922 $ 2,874 Contingent consideration 2,206 2,263 Operating leases 7,295 — Accrued bonus 1,379 3 Other 4,994 3,585 Total temporary timing differences 18,796 8,725 Net operating loss carryforwards 221 — Tax business credits carryforwards 924 2,004 Total deferred tax assets 19,941 10,729 Less: valuation allowance (6 ) (131 ) Net deferred tax assets 19,935 10,598 Deferred tax liabilities: Goodwill (1,288 ) (1,076 ) Fixed assets (1,650 ) (956 ) Acquired intangible assets (26,811 ) (26,903 ) Operating lease right of use assets (6,144 ) — Conversion option on convertible notes (11,066 ) (2,394 ) Total deferred tax liabilities (46,959 ) (31,329 ) Total net deferred tax liabilities $ (27,024 ) $ (20,731 ) The net change in the total valuation allowance for the year ended December 31, 2019 and 2018 was a decrease of $0.1 million and an increase of $0.1 million, respectively. The reconciliation of the federal statutory rate to the effective income tax rate for the years ended December 31, 2019, 2018 and 2017 is as follows: For the Years Ended December 31, 2019 2018 2017 Amount % Amount % Amount % (Amounts in thousands, except percentages) Income before income taxes $ 26,151 $ 21,436 $ 7,248 Expected tax at statutory rate 5,492 21.0 % 4,502 21.0 % 2,537 35.0 % Adjustments due to: Difference between U.S. and foreign tax 436 1.7 % 345 1.6 % (1,797 ) (24.8 %) State income and franchise tax (179 ) (0.7 %) 91 0.4 % (307 ) (4.2 %) Business tax credits (2,746 ) (10.5 %) (1,760 ) (8.2 %) (708 ) (9.8 %) Permanent differences: Stock-based compensation expense (1,877 ) (7.2 %) (1,213 ) (5.7 %) (946 ) (13.1 %) Transaction costs — 0.0 % — 0.0 % 1,232 17.0 % U.S. taxation of foreign earnings 2,227 8.5 % 2,190 10.2 % — 0.0 % Executive compensation 841 3.2 % 367 1.7 % 265 3.7 % Other 92 0.4 % 97 0.5 % 205 2.8 % Change in U.S. federal tax rates — 0.0 % — 0.0 % (12,839 ) (177.1 %) Change in U.S. state tax rates — 0.0 % 748 3.5 % (151 ) (2.1 %) Change in Netherlands tax rate (193 ) (0.7 % ) (388 ) (1.8 %) — 0.0 % Transition tax — 0.0 % (1,338 ) (6.2 %) 3,266 45.1 % Uncertain tax provisions 1,069 4.1 % 1,021 4.8 % 241 3.3 % Change in valuation allowance (125 ) (0.5 % ) 125 0.6 % (12,164 ) (167.8 %) Return to provision adjustments (79 ) (0.3 % ) 33 0.2 % (161 ) (2.2 %) Other (218 ) (0.8 % ) (1 ) (0.1 %) 222 3.0 % Income tax provision (benefit) $ 4,740 18.1 % $ 4,819 22.5 % $ (21,105 ) (291.2 %) The Company’s tax returns are subject to examination by federal, state and international taxing authorities for the following periods: Jurisdiction Fiscal Years to United States – 2016 2019 Sweden 2012 2019 Germany 2017 2019 Netherlands 2013 2019 The following is a tabular reconciliation of the total amounts of unrecognized tax benefits: For the Years Ended December 31, 2019 2018 (Amounts in thousands) Balance of gross unrecognized tax benefits, beginning of period $ 2,852 $ 1,806 Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period 602 1,062 Gross amounts of decreases in unrecognized tax benefits as a result of tax positions taken in the prior period (16 ) — Gross amounts of decrease due to release (16 ) (16 ) Balance of gross unrecognized tax benefits, end of period $ 3,422 $ 2,852 Included in the balance of unrecognized tax benefits as of December 31, 2019 are $ 3.4 million of tax benefits that, if recognized, would affect the effective tax rate. The Company classifies interest and penalties related to income taxes as components of its income tax provision. The amount of interest and penalties recorded in the accompanying consolidated statements of comprehensive income was approximately $5,000 for the year ended December 31, 2019 and approximately $1,000 for the years ended December 31, 2018 and 2017, respectively. The amount of interest and penalties recorded in the accompanying consolidated balance sheets was approximately $41,000 and $46,000 as of December 31, 2019 and 2018, respectively. The Company does not anticipate the amount of unrecognized tax benefits to change over the next twelve months. As of December 31, 201 9 its 93.5 58.0 million of such earnings have previously been subject to the one-time ASU 2016-16, “Intra-Entity Transfers of Assets Other Than Inventory,” 5.7 5.0 million to deferred tax liabilities and a decrease of $ 0.7 million to accumulated deficit at January 1, 2018. On December 22, 2017, President Trump signed into law H.R. 1/Public Law No. 115-97, low-taxed one-time In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of H.R.1. The Company recognized the provisional tax impacts related to deemed repatriated earnings and the revaluation of deferred tax assets and liabilities and included these amounts in its consolidated financial statements for the year ended December 31, 2017. During 2018, final adjustments noted below have been made to the provisional amounts recorded during 2017, and the Company has now completed its accounting for various tax impacts of the Act. The Act lowered the Company’s U.S. statutory federal tax rate from 35 12.8 deferred tax assets and liabilities resulting from the rate change. The accounting for this item is complete and no adjustments were made to this amount during 2018. The Act included a one-time 3.3 million. As of December 31, 2018, the accounting for this item was complete. The Company is subject to a territorial tax system under the Act, in which the Company is required to provide for tax on Global Intangible Low-Taxed

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2019
Stockholders' Equity	9. Stockholders’ Equity Public Offerings of Common Stock On July 19, 2019, the Company completed a public offering in which 1,587,000 shares of its common stock, including the underwriters’ exercise in full of an option to purchase an additional 207,000 shares, were sold to the public at a price of $87.00 per share (the “ July On May 3, 2019, the Company completed a public offering in which 3,144,531 shares of its common stock, including f ull On July 3, 2017, the Company completed a public offering in which 2,807,017 shares of its common stock were sold to the public at a price of $42.75 per share. The underwriters were granted an option, which they exercised in full, to purchase an additional 421,052 shares of the Company’s common stock. The total proceeds from this offering, net of underwriting discounts, commissions and other offering expenses, totaled $129.3 million. Stock Option and Incentive Plans At the Company’s 2018 A M Stockholders held on May 16, 2018, the Company’s shareholders approved the 2018 Stock Option and Incentive Plan (the “2018 Plan”). Under the 2018 Plan the number of shares of the Company’s common stock that are reserved and available for issuance shall be 2,778,000 plus the number of shares of common stock available for issuance under the Company’s Amended and Restated 2012 Stock Option and Incentive Plan (the “2012 Plan”). The shares of common stock underlying any awards under the 2018 Plan, 2012 Plan and the Second Amended and Restated 2001 Repligen Corporation Stock Plan (the “2001 Plan,” and together with the 2018 Plan and 2012 Plan, the “Plans”) that are forfeited, canceled or otherwise terminated (other than by exercise) shall be added back to the shares of stock available for issuance under the 2018 Plan. At December 31, 2019, 2,555,281 shares were available for future grant under the 2018 Plan. Stock-Based Compensation The Company recorded stock-based compensation expense of $12.8 million, $10.2 million and $6.7 million for the years ended December 31, 2019, 2018 and 2017, respectively, for share-based awards granted under the Plans. The following table presents stock-based compensation expense in the Company’s consolidated statements of comprehensive income: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Cost of product revenue $ 1,368 $ 1,019 $ 704 Research and development 1,373 917 481 Selling, general and administrative 10,106 8,256 5,562 Total stock-based compensation $ 12,847 $ 10,192 $ 6,747 The 2018 Plan allows for the granting of incentive and nonqualified options to purchase shares of common stock, restricted stock and other equity awards. Except for the grant to the Company’s Chief Executive Officer (“CEO”) in 2018 mentioned below, employee 20%-33% vesting on the first anniversary of the date of grant and the remainder vesting in equal yearly installments thereafter. Nonqualified options issued to non-employee shares and stock unit s were outstanding under the Plans. The Company uses the Black-Scholes option pricing model to calculate the fair value of stock option awards on the grant date, and the Company uses the value of the common stock as of the grant date to value stock unit s . The Company measures stock-based compensation cost at the grant date based on the estimated fair value of the award. The Company recognizes expense on awards with service-based vesting over the employee’s requisite service period on a straight-line basis. In the third quarter of 2017, the Company issued performance stock units to certain employees related to the Spectrum Acquisition which were tied to the achievement of certain 2018 revenue and gross margin metrics and the passage of time. Additionally, in the first quarter of 2018 and again in the first quarter of 2019, the Company issued performance stock units to certain individuals which are tied to the achievement of certain annual revenue and return on invested capital metrics. The Company recognizes expense on performance-based awards over the vesting period based on the probability that the performance metrics will be achieved. The Company recognizes stock-based compensation expense for options that are ultimately expected to vest, and accordingly, such compensation expense has been adjusted for estimated forfeitures. The fair value of share-based awards granted during the years ended December 31, 2019, 2018 and 2017 were calculated using the following estimated assumptions: For the Years Ended December 31, 2019 2018 2017 Expected term (in years) 5.5 6.5 5.5 7.5 6.1 Expected volatility (range) 45.14 50.87 45.14 50.87 51.48% Risk-free interest rate 1.55 2.56 2.63 2.96 1.88 1.99 Expected dividend yield 0% 0% 0% Information regarding option activity for the year ended December 31, 2019 under the Plans is summarized below: Shares Weighted average exercise price Weighted- (in Years) Aggregate (in Thousands) Options outstanding at December 998,226 $ 27.54 Granted 54,996 $ 64.14 Exercised (87,663 ) $ 13.30 Forfeited/expired/cancelled (8,000 ) $ 43.60 Options outstanding at December 31, 2019 957,559 $ 30.81 6.69 $ 59,073 Options exercisable at December 31, 2019 513,577 $ 24.44 5.39 $ 34,954 Vested and expected to vest at December 31, 2019 (1) 923,355 6.63 $ 57,235 (1) Represents the number of vested options as of December 31, 2019 plus the number of unvested options expected to vest as of December 31, 2019 based on the unvested outstanding options at December 31, 2019 adjusted for estimated forfeiture rates of 8 non-executive 3 The aggregate intrinsic value in the table above represents the total pre-tax in-the-money The weighted average grant date fair value of options granted during the years ended December 31, 2019, 2018 and 2017 was $31.27, $18.90 and $16.94, respectively. The total fair value of stock options that vested during the years ended December 31, 2019, 2018 and 2017 was $3.1 million, $2.3 million and $2.2 million, respectively. The fair value of stock units is calculated using the closing price of the Company’s common stock on the date of grant. Information regarding stock unit activity , which includes activity for restricted stock units and performance stock units, for the ended December , under the Plans is summarized below: Shares Weighted- (in Years) Aggregate Value (in Thousands) Unvested at December 31, 2018 705,413 Awarded 328,812 Vested (251,776 ) Forfeited/expired/cancelled (47,465 ) Unvested at December 31, 2019 734,984 3.81 $ 67,986 Vested and expected to vest at December 31, 2019 (1) 675,618 3.34 $ 62,495 (1) Represents the number of vested stock units as of December 31, 2019 plus the number of unvested stock units expected to vest as of December 31, 2019 based on the unvested outstanding stock units at December 31, 2019 adjusted for estimated forfeiture rates 8 for awards granted to non-executive 3 The aggregate intrinsic value in the table above represents the total pre-tax stock units stock unit stock units The weighted average grant date fair value of stock units granted during the years ended December 31, 2019, 2018 and 2017 was $49.68, $30.30 and $26.03, respectively. The total fair value of stock units that vested during the years ended December 31, 2019, 2018 and 2017 was $8.5 million, $4.6 million and $4.0 million, respectively. As of December 31, 2019, there was $36.4 million of total unrecognized compensation cost related to unvested share-based awards. This cost is expected to be recognized over a weighted average remaining requisite service period of 4.09 years. The Company expects 1,688,497 unvested options and stock units to vest over the next five years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies	10. Commitments and Contingencies Licensing and Research Agreements The Company licenses certain In September 2018, entered into a collaboration agreement with Sartorius Stedim Biotech (“SSB”), a leading international supplier for the biopharmaceutical industry, to integrate our technology into Sartorius’s BIOSTAT ® STR large-scale, single-use bioreactors to create novel perfusion-enabled bioreactors. As a result of this collaboration, end-users will stand to benefit from a single control system for L to L bioreactors used in perfusion cell culture applications. The single interface is designed to control cell growth, fluid management and cell retention in continuous and intensified and, ultimately, simplify the development and manufacture of biotechnological drugs under current good manufacturing practices. In June 2018, the Company secured an agreement with Navigo for the exclusive co-development NGL-Impact ™ NGL-Impact 1.0 million and $ million in the years ended December , and , respectively, in connection with this program, which are recorded to research and development expenses in the Company’s consolidated statement s of comprehensive income. Purchase Orders, Supply Agreements and Other Contractual Obligations In the normal course of business, the Company has entered into purchase orders and other agreement with manufacturers, distributors and others. Outstanding obligations at December 31, 2019 of $39.1 million are expected to be completed within one year. Legal Proceedings From time to time

Convertible Senior Notes

Convertible Senior Notes	12 Months Ended
Convertible Senior Notes	Dec. 31, 2019
Convertible Senior Notes	11. Convertible Senior Notes The carrying value of the Company’s convertible senior notes is as follows: December 31, 2019 2018 (Amounts in thousands) 0.375% convertible senior notes due 2024: Principal amount $ 287,500 $ — Unamortized debt discount (47,921 ) — Unamortized debt issuance costs (6,812 ) — 2.125% convertible senior notes due 2021: Principal amount — 114,989 Unamortized debt discount — (9,781 ) Unamortized debt issuance costs — (1,720 ) Total convertible senior notes $ 232,767 $ 103,488 0.375% Convertible Senior Notes due 2024 On July 19, 2019, the Company issued $287.5 million aggregate principal amount of 0.375% Convertible Senior Notes due 2024 (“2019 Notes”), which includes the underwriters’ exercise in full of an option to purchase an additional $37.5 million aggregate principal amount of 2019 Notes (the “Notes Offering”). The net proceeds of the Notes Offering, after deducting underwriting discounts and commissions and other related offering expenses payable by the Company, were approximately $278.5 million. The 2019 Notes are senior, unsecured obligations of the Company, and bear interest at a rate of 0.375% per year. The 2019 Notes will mature on July 15, 2024, unless earlier repurchased or converted in accordance with their terms. The initial conversion rate for the 2019 Notes is 8.6749 shares of the Company’s common stock per $1,000 principal amount of 2019 Notes (which is equivalent to an initial conversion price of approximately $115.28 per share). Prior to the close of business on the business day immediately preceding April 15, 2024, the 2019 Notes will be convertible at the option of the holders of 2019 Notes only upon the satisfaction of specified conditions and during certain periods. Thereafter until the close of business on the second scheduled trading day immediately preceding the maturity date, the 2019 Notes will be convertible at the options of the holders of 2019 Notes at any time regardless of these conditions. Conversion of the 2019 Notes will be settled in cash, shares of the Company’s common stock or a combination thereof, at the Company’s election. The 2019 Notes are not redeemable by the Company prior to maturity. Holders of 2019 Notes may require the Company to repurchase their 2019 Notes upon the occurrence of a fundamental change prior to maturity at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the date of repurchase. In connection with certain corporate events, the Company will, under certain circumstances, increase the conversion rate for holders of 2019 Notes who elect to convert their 2019 Notes in connection with such corporate events. As of December 31, 2019, the conditions allowing The Company accounts for the 2019 Notes as separate liability and equity components. The Company determined the carrying amount of the liability component as the present value of its cash flows using a discount rate of 4.5% based on comparative convertible transactions for similar companies. The proceeds allocated to the debt conversion feature were $52.1 million. This amount was calculated by deducting the carrying value of the liability component from the principal amount of the 2019 Notes as a whole. The difference represents a debt discount that is amortized to interest expense on the Company’s statements remeasured as long as it continues to meet the conditions for equity classification. The net carrying value of the equity component of the 2019 Notes is as follows (amounts in thousands): December 31, 2019 Proceeds allocated to the conversion feature $ 52,062 Less: transaction costs allocated to the conversion feature (1,621 ) Less: deferred taxes (11,371 ) Net carrying value $ 39,070 The Company a llocates the Company’s consolidated balance sheet at December 31, 2019. Interest expense recognized on the 2019 Notes in 2019 was $0.5 million, $4.1 million and $0.6 million for the contractual coupon interest, the accretion of the debt discount and the amortization of the debt issuance costs, respectively. The effective interest rate on the 2019 Notes is The 2019 Notes agreement contains customary terms and events of default. If an event of default (other than certain events of bankruptcy, insolvency or reorganization involving the Company) occurs and is continuing, the holders of at least 25% in aggregate principal amount of the outstanding 2019 Notes may declare 100% of the principal of, and any accrued and unpaid interest on, all of the 2019 Notes to be due and payable. Upon the occurrence of certain events of bankruptcy, insolvency or reorganization involving the Company, 100% of the principal of and accrued and unpaid interest, if any, on all of the 2019 Notes will become due and payable automatically. Notwithstanding the foregoing, the 2019 Notes provide that, to the extent the Company elects and for up to 270 days, the sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants consist exclusively of the right to receive additional interest on the 2019 Notes. The Company is not aware of any events of default, current events or market conditions that would allow holders to call or convert the 2019 Notes as of December 31, 2019. Conversion of the 2.125% Convertible Senior Notes due 2021 The Company utilized a portion of the proceeds from the issuance of the 2019 Notes to settle its outstanding 2.125% Convertible Senior Notes due 2021 (the “2016 Notes”) during the third quarter of 2019. On July 16, 2019, the Company entered into separate privately negotiated agreements with certain holders of the 2016 Notes to exchange an aggregate of $92.0 million principal aggregate amount of the 2016 Notes for shares of the Company’s common stock, together with cash, in private placement transactions (the “Note Exchanges”). On July 19, 2019 and July 22, 2019, the Company used approximately $92.3 million (including $0.3 million of accrued interest) and 1,850,155 shares of its common stock valued at $161.0 million to settle the Note Exchanges for total consideration of $253.3 million, of which $163.6 million was allocated to reacquiring the equity component of the 2016 Notes. The Company allocated the consideration transferred to the liability and equity components using the same proportions as the initial carrying value of the 2016 Notes. The transaction resulted in a loss on extinguishment of debt of $4.6 million in the Company’s consolidated statement s On July 19, 2019, the Company issued a Notice of Redemption in respect of the 2016 Notes, which provided that, on September 23, 2019, the Company would redeem all 2016 Notes that had not been converted, repurchased or exchanged prior to such date at a redemption price in cash equal to 100% of the principal amount thereof plus accrued and unpaid interest. On September 23, 2019, the Company used $23.0 million and 466,045 shares of its common stock valued at $37.8 million to settle the remaining 2016 Notes for a total of $60.8 million, of which $38.3 million was allocated to reacquiring the equity component of the 2016 Notes. This transaction resulted in a loss on extinguishment of debt of $1.1 million recorded on the Company’s consolidated statement s The fair value of the liability component was calculated using a discounted cash flow technique with an effective interest rate of 3.9%, representing the estimated nonconvertible debt borrowing rate with a maturity as of the measurement date consistent with the 2016 Notes maturity date of June 1, 2021. In addition, in accordance with this guidance, a portion of the fair value of the consideration transferred is allocated to the reacquisition of the equity component, which is the difference between the fair value of the consideration transferred and the fair value of the liability component immediately before the exchange. As a result, on a gross basis, $200.1 million was allocated to the reacquisition of the equity component of the original instrument, which is recorded net of deferred taxes within additional paid-in the Company’s . The cash conversion feature of the 2016 Notes required bifurcation from the 2016 Notes and was initially accounted for as an equity instrument classified to stockholders’ equity, as the conversion feature was determined to be clearly and closely related to the Company’s stock. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in the same industry and asset base and with similar maturity, the Company estimated the implied interest rate, assuming no conversion option. Assumptions used in the estimate represent what market participants would use in pricing the liability component, including market interest rates, credit standing, and yield curves, all of which are defined as Level 2 observable inputs. The estimated implied interest rate was applied to the 2016 Notes, which resulted in a fair value of the liability component of $96.3 million upon issuance, calculated as the present value of implied future payments based on the $115.0 million aggregate principal amount. The equity component of the 2016 Notes was recognized as a debt discount, recorded in additional paid-in Interest expense recognized on the 2016 Notes in 2019 prior to conversion was $1.3 million, $2.4 million and $0.4 million for the contractual coupon interest, the accretion of the debt discount and the amortization of the debt issuance costs, respectively. The effective interest rate on the 2016 Notes was 6.6%, which included the interest on the 2016 Notes, amortization of the debt discount and debt issuance costs.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
Accumulated Other Comprehensive Loss	Dec. 31, 2019
Accumulated Other Comprehensive Loss	12. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss consisted of the following for the years ended December 31, 2019 and 2018: Foreign Balance as of December 31, 2017 $ (6,363 ) Other comprehensive loss (5,530 ) Balance as of December 31, 2018 (11,893 ) Other comprehensive loss (3,134 ) Balance as of December 31, 2019 $ (15,027 )

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2019
Employee Benefit Plans	13. Employee Benefit Plans In the United States, the Repligen Corporation 401(k) Savings and Retirement Plan (the “401(k) Plan”) is a qualified defined contribution plan in accordance with Section 401(k) of the Internal Revenue Code. All U.S. employees over the age of 21 are eligible to make pre-tax In Sweden, the Company contributes to a government-mandated occupational pension plan that is a qualified defined contribution plan. All employees in Sweden are eligible for this pension plan. The Company pays premiums to a third-party occupational pension specialist who administers the pension plan. These premiums are based on various factors including each employee’s age, salary, employment history and selected benefits in the pension plan. When an employee terminates or retires, these premium payments cease for that employee and the Company has no further pension-related obligations for that employee. For the years ended December 31, 2019, 2018 and 2017, the Company contributed $0.6 million, $0.6 million and $0.5 million, respectively, to the pension plan.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
Related Party Transactions	14. Related Party Transactions In July 2017, in conjunction with the Spectrum Acquisition, the Board of Directors engaged one of the Company’s independent directors to serve as the chairperson of the Spectrum Integration Committee. In this role, this Director worked directly with the Company’s executive team on general integration strategy and focused on the integration of Spectrum’s operations and commercial organization with the Company. The Company recorded $0.2 million of expense for the year ended December 31, 2017 related to this director’s services. Additionally, certain facilities leased by Spectrum are owned by Roy Eddleman, the former owner of Spectrum. As of December 31, 2019, Mr. Eddleman owned greater than 5 % of the Company’s outstanding shares and the Company considers him to be a related party. The lease amounts paid to this shareholder prior to the public offering were negotiated in connection with the Spectrum Acquisition. The Company incurred rent expense totaling $ million for the year ended December 31, 2019 related to these leases. As part of the Spectrum Acquisition, the Company was responsible for filing all tax returns for Spectrum for the period from January 1, 2017 through July 31, 2017, the day before the Spectrum Acquisition. The Company was responsible for collecting any tax refunds from federal and state authorities and remitting these refunds to the former shareholders of Spectrum, including the former owner of Spectrum who held more than 5% of the Company’s outstanding common stock prior to May 3, 2019. During 2018, the Company collected $1.7 million of these tax refunds, which the Company paid to the Spectrum shareholders during the fourth quarter of 2018, net of $0.2 million of expenses paid by the Company on behalf of Spectrum for tax preparation and other fees.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
Selected Quarterly Financial Data (Unaudited)	Dec. 31, 2019
Selected Quarterly Financial Data (Unaudited)	15. Selected Quarterly Financial Data (Unaudited) The following table sets forth certain unaudited quarterly results of operations for 2019 and 2018. In the opinion of management, this information has been prepared on the same basis as the audited consolidated financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the quarterly information when read in conjunction with the audited consolidated financial statements and notes thereto included elsewhere in this Form 10-K. For the Years Ended December 31, 2019 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 60,634 $ 70,692 $ 69,445 $ 69,474 Gross profit 33,789 39,984 38,020 39,353 Operating expenses 49,463 59,638 61,481 63,580 Net income 8,053 8,095 1,659 3,604 Earnings per share: Basic $ 0.18 $ 0.17 $ 0.03 $ 0.07 Diluted $ 0.17 $ 0.17 $ 0.03 $ 0.07 For the Years Ended December 31, 2018 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 44,830 $ 47,731 $ 49,529 $ 51,942 Gross profit 25,162 26,643 27,346 28,350 Operating expenses 38,854 43,458 41,643 44,089 Net income 3,448 2,738 4,794 5,638 Earnings per share: Basic $ 0.08 $ 0.06 $ 0.11 $ 0.13 Diluted $ 0.08 $ 0.06 $ 0.10 $ 0.12

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2019
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions by management affect the Company’s revenue recognition for multiple element arrangements, allowance for doubtful accounts, the net realizable value of inventory, valuations and purchase price allocations related to business combinations, expected future cash flows including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets, estimated fair values of intangible assets and goodwill, amortization methods and periods, warranty reserves, certain accrued expenses, stock-based compensation, tax reserves and recoverability of the Company’s net deferred tax assets and related valuation allowance. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances.
Basis of presentation	Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Repligen Sweden AB, Repligen GmbH, Spectrum ® Singapore Pte. Ltd. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior year balances have changed to reflect current year presentation.
Foreign Currency	Foreign Currency The Company translates the assets and liabilities of its foreign subsidiary at rates in effect at the end of the reporting period. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments, including adjustments related to the Company’s intercompany loan with Repligen Sweden AB and Repligen Sweden AB’s intercompany loan with Repligen GmbH, are remeasured at each period end and included in accumulated other comprehensive loss.
Revenue Recognition	R We generate revenue from the sale of bioprocessing products, equipment devices, and related consumables used with these equipment devices to customers in the life science and biopharmaceutical industries. Under Accounting Standard Codification No. (“ASC”) 606, “ Revenue from Contracts with Customers,” When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, Contracts with customers may contain multiple performance obligations. For such arrangements, the transaction price is allocated to each performance obligation based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes product revenue under the terms of each customer agreement upon transfer of control to the customer, which occurs at a point in time. Shipping and handling fees are recorded as a component of product revenue, with the associated costs recorded as a component of cost of product revenue.
Risks and Uncertainties	Risks and Uncertainties The Company evaluates its operations periodically to determine if any risks and uncertainties exist that could impact its operations in the near term. The Company does not believe that there are any significant risks which have not already been disclosed in the consolidated financial statements. A loss of certain suppliers could temporarily disrupt operations, although alternate sources of supply exist for these items. The Company has mitigated these risks by working closely with key suppliers, identifying alternate sources and developing contingency plans.
Cash, Cash Equivalents, Restricted Cash and Marketable Securities	Cash, Cash Equivalents and Restricted Cas h Cash and cash equivalents include cash on hand and on deposit. Highly liquid investments in money market mutual funds with an original maturity of three months or less are classified as cash equivalents. All cash equivalents are carried at cost, which approximates fair value. Restricted cash represents cash that is restricted as to withdrawal or usage. In connection with the Company’s acquisition of C Technologies on May 31, 2019, cash is being held and is due to employees based on their continued employment with the Company one year after the date of the close of the acquisition. As of December 31, 2019, $9.0 million, which represents this amount due to employees, is being carried as restricted cash on the Company’s consolidated balance sheet . The Company adopted Accounting Standard Update No. (“ASU”) 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” on January 1, 2018, which changed the presentation of the Company’s consolidated statements of cash flows and related disclosures for all periods presented. Accordingly, the following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in the Company’s consolidated statements of cash flows for the years ended December 31, 2019, 2018 and 2017: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash and cash equivalents $ 528,392 $ 193,822 $ 173,759 Restricted cash 9,015 — — Total cash, cash equivalents, and restricted cash $ 537,407 $ 193,822 $ 173,759 There were no realized gains or losses on investments for the years ended December 31, 2019, 2018 and 2017.
Fair Value Measurement	Fair Value Measurement In determining the fair value of its assets and liabilities, the Company uses various valuation approaches. The Company employs a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 – Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly. Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level input that is significant to the overall fair value measurement. As of December 31, 2019 and 2018, cash and cash equivalents on the Company’s consolidated balance sheets included $ 415.6 s In July 2019, the Company issued $287.5 million aggregate principal amount of the Company’s 0.375% Convertible Senior Notes due July 15, 2024 semi-annually “Convertible Senior Notes , There were no remeasurements to fair value during the year ended December 31, 2019 of financial assets and liabilities that are not measured at fair value on a recurring basis.
Inventories	Inventories Inventories relate to the Company’s bioprocessing business. The Company values inventory at cost or, if lower, net realizable value, using the first-in, first-out work-in-process Manufacturing of bioprocessing finished goods is done to order and tested for quality specifications prior to shipment. A change in the estimated timing or amount of demand for the Company’s products could result in additional provisions for excess inventory quantities on hand. Any significant unanticipated changes in demand or unexpected quality failures could have a significant impact on the value of inventory and reported operating results. During all periods presented in the accompanying financial statements, there have been no material adjustments related to a revised estimate of inventory valuations. Work-in-process
Lease Accounting	Lease Accounting The Company adopted ASU 2016-02, “Leases (Topic 842) A lease qualifies as a finance lease if any of the following criteria are met at the inception of the lease: (i) there is a transfer of ownership of the leased asset to the Company by the end of the lease an option to purchase the leased asset that it is reasonably certain to exercise, (iii) the lease term is for a major part of the remaining economic life of the leased asset, (iv) the present value of the sum of lease payments equals or exceeds substantially all of the fair value of the leased asset, or (v) the nature of the leased asset is specialized to the point that it is expected to provide the lessor no alternative use at the end of the lease term. All other leases are recorded as operating leases. Finance and operating lease assets and liabilities are recognized at the lease lease The Company does not separate lease and non-lease components when determining which lease payments to include in the calculation of its lease assets and liabilities. Variable lease payments are expensed as incurred. If a lease includes an option to extend or terminate the lease, the Company reflects the option in the lease term if it is reasonably certain it will exercise the option. Finance leases are recorded in property, plant and equipment, net, other current liabilities and long-term finance lease liabilities and operating leases are recorded in operating lease right of use assets, operating lease liability and operating lease liability, long-term on the Company’s consolidated balance sheet. Certain of the Company’s operating leases where the Company is the lessee provide for minimum annual payments that increase over the life of the lease. Some of these leases include obligations to pay for other services, such as operations and maintenance. For leases of property, the Company accounts for these other services as a component of the lease. The aggregate minimum annual payments are expensed on the straight-lined basis beginning when the Company takes possession of the property and extending over the term of the related lease, including renewal options when the exercise of the option is reasonably assured as an economic penalty may be incurred if the option is not exercised. The Company also accounts in its straight-line computation for the effect of any “rental holidays.” Operating lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of the fixed lease payments, reduced by landlord incentives using a discount rate based on similarly secured borrowings available to the Company. Most of the leases do not provide implicit interest rates and therefore the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for the Company’s leases is determined based on lease term and currency in which the lease payments are made.
Accrued Liabilities	Accrued Liabilities The Company estimates accrued liabilities by identifying services performed on the Company’s behalf, estimating the level of service performed and determining the associated cost incurred for such service as of each balance sheet date. For example, the Company would accrue for professional and consulting fees incurred with law firms, audit and accounting service providers and other third-party consultants. These expenses are determined by either requesting those service providers to estimate unbilled services at each reporting date for services incurred or tracking costs incurred by service providers under fixed fee arrangements. The Company has processes in place to estimate the appropriate amounts to record for accrued liabilities, which principally involve the applicable personnel reviewing the services provided. In the event that the Company does
Income Taxes	Income Taxes Deferred taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are provided, if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions using a “more-likely-than-not”
Property, Plant & Equipment	Property, Plant & Equipment Property, plant & equipment is recorded at cost less allowances for depreciation. Depreciation is calculated using the straight-line method over the estimated useful life of the asset as follows Classification Estimated Useful Life Buildings Thirty years Leasehold improvements Shorter of the term of the lease or estimated useful life Equipment Three Furniture, fixtures and office equipment Three Computer hardware and software Three Upon disposal of Property, plant & equipment, the cost of the asset and the accumulated depreciation are removed from the accounts and the resulting gain or loss is reflected in earnings. Fully depreciated assets are not removed from the accounts until they are physically disposed
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares and dilutive common share equivalents then outstanding. Potential common share equivalents consist of restricted stock awards and the incremental common shares issuable upon the exercise of stock options and warrants. Under the treasury stock method, unexercised “in-the-money” A reconciliation of basic and diluted share amounts is as follows: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands, except per share data) Net income $ 21,411 $ 16,617 $ 28,353 Weighted average shares used in computing net income per share - basic 48,343 43,767 38,234 Effect of dilutive shares: Stock options and restricted stock awards 864 581 441 Convertible senior notes — 1,123 475 Dilutive potential common shares 864 1,704 916 Weighted average shares used in computing net income per share - diluted 49,206 45,471 39,150 Earnings per share: Basic $ 0.44 $ 0.38 $ 0.74 Diluted $ 0.44 $ 0.37 $ 0.72 At December 31, 2019, there were outstanding options to purchase 957,559 shares of the Company’s common stock at a weighted average exercise price of $30.81 per share and 734,984 shares of common stock issuable upon the vesting of stock units which include restricted stock units and performance stock units. For the year ended December , , shares of the Company’s common stock were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and were therefore, anti-dilutive . At December 31, 2018, there were outstanding options to purchase 998,226 shares of the Company’s common stock at a weighted average exercise price of $27.54 per share and 705,413 shares of common stock issuable upon the vesting of stock units. For the year ended December 31, 2018, shares of the Company’s common stock were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and were therefore, anti-dilutive. At December 31, 2017, there were outstanding options to purchase 734,940 shares of the Company’s common stock at a weighted average exercise price of $20.80 per share and 505,235 shares of common stock issuable upon the vesting of stock units. For the year ended December 31, 2017, 317,923 shares of the Company’s common stock were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and were therefore, anti-dilutive. As provided by the terms of the indenture underlying the senior convertible notes, the Company has a choice to settle the conversion obligation for the Convertible Notes in cash, shares or any combination of the two. The Company currently intends to settle the par value of the Convertible Notes in cash and any excess conversion premium in shares. The Company applies the provisions of ASC 260, “Earnings Per Share”, 10-45-44, tible Notes. The dilutive effect of the conversion premium included in the calculation of diluted earnings per share was 0 shares , 1,123,139 shares and 474,923 shares for the years ended December 31, 2019, 2018 and 2017 , respectively .
Segment Reporting	Segment Reporting The Company views its operations, makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. As a result, the financial information disclosed herein represents all of the material financial information related to the Company. The following table represents product revenues by product line: For the Years Ended December 31, 2019 (1) 2018 2017 (2) (Amounts in thousands) Chromatography products $ 64,635 $ 45,326 $ 36,309 Filtration products 119,534 90,586 49,050 Process analytics products 16,405 — — Protein s 65,124 54,375 53,969 Other 4,399 3,604 1,761 Total product revenue $ 270,097 $ 193,891 $ 141,089 (1) 2019 revenue for process analytics products includes revenue related to C Technologies from May 31, 2019 through December 31, 2019. (2) 2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017. Revenue from chromatography products includes the OPUS chromatography PPCs, chromatography resins and ELISA test kits. Revenue from filtration products includes the XCell ATF systems and consumables as well as the KrosFlo and SIUS filtration products. Revenue from process analytics products includes the SoloVPE and FlowVPE devices. Revenue from protein products includes the Protein A affinity ligands and cell culture growth factors. Other revenue primarily consists of revenue from the sale of operating room products to hospitals as well as freight revenue. The following table represents the Company’s total revenue by geographic area (based on the location of the customer): For the Years Ended December 31, 2019 2018 2017 Revenue by customers’ geographic locations: North America 51 % 48 % 43 % Europe 37 % 40 % 46 % APAC 12 % 12 % 11 % Other 0 % 0 % 0 % Total revenue 100 % 100 % 100 % The following table represents the Company’s total assets by geographic area: December 31, 2019 2018 (Amounts in thousands) Total assets by geographic locations: North America $ 1,260,217 $ 665,833 Europe 133,599 104,750 APAC 6,297 4,038 Total assets by geographic location $ 1,400,113 $ 774,621 The following table represents the Company’s long-lived assets by geographic area: December 31, 2019 2018 (Amounts in thousands) Long-lived assets by geographic locations: North America $ 66,756 $ 26,344 Europe 6,775 5,162 APAC 869 848 Total long-lived assets by geographic location $ 74,400 $ 32,354
Concentrations of Credit Risk and Significant Customers	Concentrations of Credit Risk and Significant Customers Financial instruments that subject the Company to significant concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities and accounts receivable. Per the Company’s investment policy, cash equivalents and marketable securities are invested in financial instruments with high credit ratings and credit exposure to any one issue, issuer (with the exception of U.S. treasury obligations) and type of instrument is limited. At December 31, 2019 and 2018, the Company had no investments associated with foreign exchange contracts, options contracts or other foreign hedging arrangements. Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. While a reserve for the potential write-off . Revenue from significant customers that represent 10% or more of the Company’s total revenue is as follows: For the Years Ended December 31, 2019 2018 2017 MilliporeSigma 13 % 15 % 18 % GE Healthcare 12 % 15 % 21 % Significant accounts receivable balances representing 10% or more of the Company’s total trade accounts receivable and royalties and other receivable balances are as follows: December 31, 2019 2018 GE Healthcare 18 % 17 % MilliporeSigma N/A 11 %
Business Combinations, Goodwill and Intangible Assets	Business Combinations, Goodwill and Intangible Assets Business Combinations Total consideration transferred for acquisitions is allocated to the assets acquired and liabilities assumed, if any, based on their fair values at the dates of acquisition. This purchase price allocation process requires management to make significant estimates and assumptions with respect to intangible assets and deferred revenue. The fair value of identifiable intangible assets is based on detailed valuations that use information and assumptions determined by management. Any excess of purchase price over the fair value of the net tangible and intangible assets acquired is allocated to goodwill. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, that the Company’s estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of comprehensive income. Any excess of the fair value of the net tangible and intangible assets acquired over the purchase price is recognized in the consolidated The Company uses the income approach to determine the fair value of certain identifiable intangible assets including customer relationships and developed technology. This approach determines fair value by estimating after-tax after-tax Goodwill Goodwill is not amortized and is reviewed for impairment at least annually at the reporting unit level. As of December 31, 2018, the Company concluded that it operated as two reporting units and performed the 2018 goodwill impairment test using two reporting units. In 2019, the Company reorganized its reporting structure and changed the way the CODM views the Company’s operations and allocates its resources. Accordingly, the Company operates as one reporting unit as of the goodwill impairment measurement date of December 31, 2019. There was no impairment to goodwill at December 31, 2019 and 2018. There were no goodwill impairment charges during the years ended December 31, 2019, 2018 and 2017. Intangible Assets Intangible assets with a definite life are amortized over their useful lives using the straight-line method and the amortization expense is recorded within cost of product revenue and selling, general and administrative expense in the consolidated statements of comprehensive income. Intangible assets and their related useful lives are reviewed at least annually to determine if any adverse conditions exist that would indicate the carrying value of these assets may not be recoverable. More frequent impairment assessments are conducted if certain conditions exist, including a change in the competitive landscape, any internal decisions to pursue new or different technology strategies, a loss of a significant customer, or a significant change in the marketplace, including changes in the prices paid for the Company’s products or changes in the size of the market for the Company’s products. If impairment indicators are present, the Company determines whether the underlying intangible asset is recoverable through estimated future undiscounted cash flows. If the asset is not found to be recoverable, it is written down to the estimated fair value of the asset based on the sum of the future discounted cash flows expected to result from the use and disposition of the asset. If the estimate of an intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. The Company continues to believe that its definitive-lived intangible assets are recoverable at December 31, 2019. Indefinite-lived intangible assets are reviewed for impairment at least annually. There has been no impairment of our intangible assets for the periods presented.
Stock Based Compensation	Stock Based Compensation The Company measures stock-based compensation cost at the grant date based on the estimated fair value of the award and recognizes it as expense over the employee’s requisite service period on a straight-line basis. The Company records the expense for share-based awards subject to performance-based milestone vesting over the remaining service period when management determines that achievement of the milestone is probable. Management evaluates whether the achievement of a performance-based milestone is probable as of the reporting date. The Company has no awards that are subject to market conditions. The Company recognizes stock-based compensation expense based upon options that are ultimately expected to vest, and accordingly, such compensation expense has been adjusted by an amount of estimated forfeitures. The Company uses the Black-Scholes option pricing model to calculate the fair value of share-based awards on the grant date. The following assumptions are used in calculating the fair value of share-based awards: Expected term Expected volatility Risk-free interest rate zero-coupon Expected dividend yield Estimated forfeiture rates non-executive non-employee
Advertising Costs	Advertising Costs The Company expenses advertising costs as they are incurred. Advertising expense for the years ended December 31, 2019, 2018 and 2017 was $0.1 million, $0.2 million and $0.2 million, respectively.
Recent Accounting Standards Updates	Recent Accounting Standards Updates The Company considers the applicability and impact of all Accounting Standards Updates on its consolidated financial statements. Updates not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s consolidated financial position or results of operations. Recently issued Accounting Standards Updates which the Company believes may be applicable are as follows: Recently Issued Accounting Standard Updates – Not Yet Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.” 2018-13 effectiveness of fair value measurement disclosures. The amendments in this guidance modify the disclosure requirements on fair value measurements based on the concepts in FASB Concepts Statement, “Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements ” In August 2018, the FASB issued ASU 2018-15, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” 2018-15 internal-use internal-use In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326).” 2016-13 2016-13 loss with an expected credit loss model that requires entities to estimate an expected lifetime credit loss on financial assets and certain other instruments, including short-term trade receivables and contract assets, and expands disclosure requirements for credit quality of financial assets. ASU 2016-13 becomes effective for the Company in the year ending December , , including interim periods. Early adoption is permitted. The Company will adopt this guidance in the first quarter of . The Company continues to assess all potential impacts that the adoption of this guidance will have on its consolidated financial statements and is continuing to finalize its calculations for credit losses. Based on the composition of the Company’s investment portfolio, accounts receivable, current market conditions and historical credit loss activity, the Company does not expect there to be a material impact on its financial position, results of operations or cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes.” 2019-12 year-to-date 2019-12 2019-12 Recently Issued Accounting Standard Updates – Adopted During the Period In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” 2016-02, 2016-02 right-of-use 2016-02 2018-11, “Leases – Targeted Improvements (Topic 842),” 2018-11 (i) whether expired or existing contracts contain leases; (ii) lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. As a result, the consolidated balance sheet prior to January 1, 2019 was not restated, continues to be reported under ASC 840, “Leases”, non-lease beginning retained upon adoption of ASC 842. See Note 4, “Leases,” below for more on the Company’s adoption of ASC 842.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2019
Schedule of Cash, Cash Equivalents and Restricted Cash	Accordingly, the following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in the Company’s consolidated statements of cash flows for the years ended December 31, 2019, 2018 and 2017: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash and cash equivalents $ 528,392 $ 193,822 $ 173,759 Restricted cash 9,015 — — Total cash, cash equivalents, and restricted cash $ 537,407 $ 193,822 $ 173,759
Property, Plant and Equipment	Property, plant & equipment is recorded at cost less allowances for depreciation. Depreciation is calculated using the straight-line method over the estimated useful life of the asset as follows Classification Estimated Useful Life Buildings Thirty years Leasehold improvements Shorter of the term of the lease or estimated useful life Equipment Three Furniture, fixtures and office equipment Three Computer hardware and software Three
Reconciliation of Basic and Diluted Shares Amounts	For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands, except per share data) Net income $ 21,411 $ 16,617 $ 28,353 Weighted average shares used in computing net income per share - basic 48,343 43,767 38,234 Effect of dilutive shares: Stock options and restricted stock awards 864 581 441 Convertible senior notes — 1,123 475 Dilutive potential common shares 864 1,704 916 Weighted average shares used in computing net income per share - diluted 49,206 45,471 39,150 Earnings per share: Basic $ 0.44 $ 0.38 $ 0.74 Diluted $ 0.44 $ 0.37 $ 0.72
Summary of Product Revenues by Product Line	The following table represents product revenues by product line: For the Years Ended December 31, 2019 (1) 2018 2017 (2) (Amounts in thousands) Chromatography products $ 64,635 $ 45,326 $ 36,309 Filtration products 119,534 90,586 49,050 Process analytics products 16,405 — — Protein s 65,124 54,375 53,969 Other 4,399 3,604 1,761 Total product revenue $ 270,097 $ 193,891 $ 141,089 (1) 2019 revenue for process analytics products includes revenue related to C Technologies from May 31, 2019 through December 31, 2019. (2) 2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017.
Total Assets by Geographic Area	The following table represents the Company’s total assets by geographic area: December 31, 2019 2018 (Amounts in thousands) Total assets by geographic locations: North America $ 1,260,217 $ 665,833 Europe 133,599 104,750 APAC 6,297 4,038 Total assets by geographic location $ 1,400,113 $ 774,621
Long Lived Assets by Geographic Area	The following table represents the Company’s long-lived assets by geographic area: December 31, 2019 2018 (Amounts in thousands) Long-lived assets by geographic locations: North America $ 66,756 $ 26,344 Europe 6,775 5,162 APAC 869 848 Total long-lived assets by geographic location $ 74,400 $ 32,354
Percentage of Revenue from Significant Customers	Revenue from significant customers that represent 10% or more of the Company’s total revenue is as follows: For the Years Ended December 31, 2019 2018 2017 MilliporeSigma 13 % 15 % 18 % GE Healthcare 12 % 15 % 21 %
Accounts Receivable
Percentage by Geographic Area or Significant Customers	Significant accounts receivable balances representing 10% or more of the Company’s total trade accounts receivable and royalties and other receivable balances are as follows: December 31, 2019 2018 GE Healthcare 18 % 17 % MilliporeSigma N/A 11 %
Total Revenue
Percentage by Geographic Area or Significant Customers	The following table represents the Company’s total revenue by geographic area (based on the location of the customer): For the Years Ended December 31, 2019 2018 2017 Revenue by customers’ geographic locations: North America 51 % 48 % 43 % Europe 37 % 40 % 46 % APAC 12 % 12 % 11 % Other 0 % 0 % 0 % Total revenue 100 % 100 % 100 %

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
Acquisitions (Tables)	Dec. 31, 2019
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The components and allocation of the purchase price consists of the following amounts (amounts in thousands): Cash and cash equivalents $ 3,795 Restricted cash 26,933 Accounts receivable 3,044 Inventory 3,783 Prepaid expenses and other current assets 93 Fixed assets 40 Operating lease right of use asset 3,836 Customer relationships 59,680 Developed technology 28,920 Trademark and tradename 1,570 Non-competition agreements 660 Goodwill 142,021 Deferred taxes 895 Accounts payable (436 ) Accrued liabilities (2,474 ) Accrued bonus (26,928 ) Deferred revenue (1,709 ) Operating lease liability (51 ) Operating lease liability, long-term (3,785 ) Fair value of net assets acquired $ 239,887
Unaudited Supplemental Pro Forma Information	The following table presents unaudited supplemental pro forma information as if the Spectrum Acquisition had occurred as of January 1, 2017 (amounts in thousands, except per share data): December 31, 2017 Total revenue $ 162,913 Net income (loss) $ 17,220 Earnings (loss) per share: Basic $ 0.41 Diluted $ 0.40
C Technologies, Inc.
Schedule of Business Combination Consideration Transferred	Total consideration transferred is as follows (amounts in thousands): Cash consideration $ 185,949 Equity consideration 53,938 Fair value of net assets acquired $ 239,887
Schedule of Identified Intangible Assets and Estimated Useful Lives	The following table sets forth the components of the identified intangible assets associated with the C Technologies Acquisition and their estimated useful lives: Useful life Fair Value (Amounts in thousands) Customer relationships 17 years $ 59,680 Developed technology 18 years 28,920 Trademark and tradename 20 years 1,570 Non-competition 4 years 660 Total $ 90,830
Unaudited Supplemental Pro Forma Information	The following pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the acquisition and is not necessarily indicative of the operating results that would have actually occurred had the transaction been consummated on January 1, 2018 or of future results: December 31, 2019 2018 (Amounts in thousands, Total revenue $ 279,434 $ 217,739 Net income $ 23,394 $ 21,195 Earnings per share: Basic $ 0.48 $ 0.44 Diluted $ 0.48 $ 0.43
Spectrum Inc.
Schedule of Business Combination Consideration Transferred	The total consideration transferred follows (amounts in thousands): Cash consideration $ 122,932 Equity consideration 247,575 Working capital adjustment 425 Net assets acquired $ 370,932

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2019
Maturities of lease liabilities	Amounts related to financing leases were immaterial. The maturity of the Company’s operating lease liabilities as of December 31, 2019 are as follows (amounts in thousands): As of December 31, 2019 Amount 2020 $ 3,692 2021 5,812 2022 4,830 2023 3,911 2024 3,514 2025 and thereafter 16,511 Total future minimum lease payments 38,270 Less: amount of lease payment representing interest 7,718 Total operating lease liabilities $ 30,552
Abstract of operating lease liability	Total operating lease liabilities is included on the Company’s consolidated balance sheet is as follows (amounts in thousands): As of December 31, 2019 Operating lease liability $ 3,557 Operating lease liability, long-term 26,995 Minimum operating lease payments $ 30,552
Lease, Cost	For the year ended December 31, 2019, total lease cost is comprised of the following: Year Ended Lease Cost December 3 1 (Amounts in thousands) Operating lease cost $ 4,480 Variable operating lease cost 1,480 Lease cost $ 5,960
Schedule Of Supplemental Disclosure Of Cash Flows Related To Operating Leases	The following information represents supplemental disclosure for the consolidated statements of cash flows related to operating leases (amounts in thousands): Year Ended December 31, 2019 Operating cash flows from operating leases $ (4,004 )
Schedule Of Discount Rate And Lease Term Used In Calculating Lease Liabilities And Assets	The weighted average remaining lease term and the weighted average discount rate used to measure the Company’s operating lease liabilities as of December 31, 2019 were: Weighted average remaining lease term (years) 8.05 Weighted average discount rate 4.91 %

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
Revenue Recognition (Tables)	Dec. 31, 2019
Disaggregation of Revenue	Revenue for the years ended December 31, 2019, 2018 and 2017 was as follows (amounts in thousands, except percentages): For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Product r $ 270,097 $ 193,891 $ 141,089 Royalty and other income 148 141 147 Total revenue $ 270,245 $ 194,032 $ 141,236
Revenue from Significant Customers	Revenue from significant customers is as follows (amounts in thousands): For the Years Ended December 31, 2019 2018 2017 MilliporeSigma $ 36,190 $ 29,843 $ 25,061 GE Healthcare $ 31,441 $ 29,616 $ 30,150
Summary of Receivables and Deferred Revenue from Contracts with Customers	The following table provides information about receivables and deferred revenue from contracts with customers as of December 31, 2019 (amounts in thousands): 2019 Balances from contracts with customers only: Accounts receivable $ 43,068 Deferred revenue (included in accrued liabilities in the consolidated balance sheets) 5,005 Revenue recognized during 2019 relating to: The beginning deferred revenue balance $ 833 Changes in pricing related to products or services satisfied in previous periods —

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
Goodwill and Intangible Assets (Tables)	Dec. 31, 2019
Changes in Carrying Value of Goodwill	The following table represents the changes in the carrying value of goodwill for the years ended December 31, 2019 and 2018 (amounts in thousands): Balance as of December 31, 2017 $ 327,333 Goodwill adjustment related to Spectrum Lifesciences, LLC acquisition 203 Cumulative translation adjustment (801 ) Balance as of December 31, 2018 $ 326,735 Acquisition of C Technologies, Inc. 142,021 Cumulative translation adjustment (343 ) Balance as of December 31, 2019 $ 468,413 (1) I n December 2019, the Company recorded a deferred tax asset for the C Technologies acquisition of $0.9 million as an adjustment to goodwill.
Intangible assets	Intangible assets, net consisted of the following at December 31, 2019: December 31, 2019 Gross Accumulated Amortization Net Weighted (in years) (Amounts in thousands) Finite-lived intangible assets: Technology - $ 82,169 $ (9,669 ) $ 72,500 19 Patents 240 (240 ) — 8 Customer relationships 160,825 (25,642 ) 135,183 15 Trademarks 3,752 (333 ) 3,419 20 Other intangibles 1,697 (947 ) 750 3 Total finite-lived intangible assets 248,683 (36,831 ) 211,852 16 Indefinite-lived intangible asset: Trademarks 700 — 700 — Total intangible assets $ 249,383 $ (36,831 ) $ 212,552 Intangible assets consisted of t h December 31, 2018 Gross Accumulated Amortization Net Weighted (in years) (Amounts in thousands) Finite-lived intangible assets: Technology - $ 53,315 $ (5,942 ) $ 47,373 19 Patents 240 (240 ) — 8 Customer relationships 101,460 (16,609 ) 84,851 14 Trademarks 2,160 (159 ) 2,001 20 Other intangibles 1,061 (548 ) 513 3 Total finite-lived intangible assets 158,236 (23,498 ) 134,738 16 Indefinite-lived intangible asset: Trademarks 700 — 700 — Total intangible assets $ 158,936 $ (23,498 ) $ 135,438
Schedule of Amortization Expense for Amortized Intangible Assets	As of December 31, 2019, the Company expects to record the following amortization Estimated Amortization For the Years Ended December 31, Expense 2020 $ 15,288 2021 14,813 2022 14,811 2023 14,715 2024 14,273 2025 and thereafter 137,952 Total $ 211,852

Consolidated Balance Sheet De_2

Consolidated Balance Sheet Detail (Tables)	12 Months Ended
Consolidated Balance Sheet Detail (Tables)	Dec. 31, 2019
Inventories	Inventories, net consists of the following: December 31, 2019 2018 (Amounts in thousands) Raw materials $ 29,328 $ 24,937 Work-in-process 8,360 5,185 Finished products 17,144 12,141 Total inventories, net $ 54,832 $ 42,263
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following: December 31, 2019 2018 (Amounts in thousands) Equipment maintenance and services $ 1,662 $ 1,677 Prepaid taxes 2,719 843 Prepaid insuran c 80 629 Deferred costs — 55 Other 1,456 697 Total prepaid expenses and other current assets $ 5,917 $ 3,901
Property, Plant and Equipment	Property, plant and equipment consist of the following: December 31, 2019 2018 (Amounts in thousands) Land $ 1,023 $ 1,023 Buildings 764 764 Leasehold improvements 23,905 16,259 Equipment 36,257 24,092 Furniture, fixtures and office equipment 6,312 4,914 Computer hardware and software 8,810 534 Construction in progress (1) 6,707 12,906 Other 56 — Total property, plant and equipment 83,834 60,492 Less - (35,379 ) (28,312 ) Total property, plant and equipment, net $ 48,455 $ 32,180 (1) Construction in progress as of December 31, 2019 primarily includes million for the buildout of the Company’s Waltham and Marlborough, Massachusetts facilities, million of other manufacturing improvements in Waltham and Marlboro, million in manufacturing improvements at the Company’s Rancho Dominguez, California facility and $0.4 million for a buildout at the Company’s Bridgewater, New Jersey facility. Construction in progress as of December 31, 2018 includes $7.3 million for the buildout of the Company’s Marlborough facility, $2.1 million in capitalized internal-use Depreciation expense totaled $7.3 million, $5.2 million and $4.2 million in the fiscal years ended December 31, 2019, 2018 and 2017, respectively.
Accrued Liabilities	Accrued liabilities consist of the following: December 31, 2019 2018 (Amounts in thousands) Employee compensation $ 19,850 $ 9,953 Taxes 3,874 1,024 Royalty and license fees 123 242 Warranties 1,500 546 Professional fees 1,081 942 Deferred revenue 5,005 1,290 Other 1,898 1,868 Total accrued liabilities $ 33,331 $ 15,865

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2019
Income Before Income Taxes	The components of income before income taxes are as follows: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Domestic $ (5,432 ) $ (73 ) $ (6,709 ) Foreign 31,583 21,509 13,957 Income before income taxes $ 26,151 $ 21,436 $ 7,248
Income Tax Provision (Benefit)	The components of the income tax provision (benefit) are as follows: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Components of the income tax provision (benefit): Current $ 8,290 $ 4,354 $ 3,624 Deferred (5,287 ) 465 (24,729 ) Equity 1,737 — — Total $ 4,740 $ 4,819 $ (21,105 ) Jurisdictional components of the income tax provision (benefit): Federal $ (965 ) $ (393 ) $ (24,012 ) State (1,764 ) 718 (438 ) Foreign 7,469 4,494 3,345 Total $ 4,740 $ 4,819 $ (21,105 )
Consolidated Deferred Tax Assets (Liabilities)	December 31, 2019 2018 (Amounts in thousands) Deferred tax assets: Temporary timing differences: Stock-based compensation expense $ 2,922 $ 2,874 Contingent consideration 2,206 2,263 Operating leases 7,295 — Accrued bonus 1,379 3 Other 4,994 3,585 Total temporary timing differences 18,796 8,725 Net operating loss carryforwards 221 — Tax business credits carryforwards 924 2,004 Total deferred tax assets 19,941 10,729 Less: valuation allowance (6 ) (131 ) Net deferred tax assets 19,935 10,598 Deferred tax liabilities: Goodwill (1,288 ) (1,076 ) Fixed assets (1,650 ) (956 ) Acquired intangible assets (26,811 ) (26,903 ) Operating lease right of use assets (6,144 ) — Conversion option on convertible notes (11,066 ) (2,394 ) Total deferred tax liabilities (46,959 ) (31,329 ) Total net deferred tax liabilities $ (27,024 ) $ (20,731 )
Reconciliation of Federal Statutory Rate to Effective Income Tax Rate	The reconciliation of the federal statutory rate to the effective income tax rate for the years ended December 31, 2019, 2018 and 2017 is as follows: For the Years Ended December 31, 2019 2018 2017 Amount % Amount % Amount % (Amounts in thousands, except percentages) Income before income taxes $ 26,151 $ 21,436 $ 7,248 Expected tax at statutory rate 5,492 21.0 % 4,502 21.0 % 2,537 35.0 % Adjustments due to: Difference between U.S. and foreign tax 436 1.7 % 345 1.6 % (1,797 ) (24.8 %) State income and franchise tax (179 ) (0.7 %) 91 0.4 % (307 ) (4.2 %) Business tax credits (2,746 ) (10.5 %) (1,760 ) (8.2 %) (708 ) (9.8 %) Permanent differences: Stock-based compensation expense (1,877 ) (7.2 %) (1,213 ) (5.7 %) (946 ) (13.1 %) Transaction costs — 0.0 % — 0.0 % 1,232 17.0 % U.S. taxation of foreign earnings 2,227 8.5 % 2,190 10.2 % — 0.0 % Executive compensation 841 3.2 % 367 1.7 % 265 3.7 % Other 92 0.4 % 97 0.5 % 205 2.8 % Change in U.S. federal tax rates — 0.0 % — 0.0 % (12,839 ) (177.1 %) Change in U.S. state tax rates — 0.0 % 748 3.5 % (151 ) (2.1 %) Change in Netherlands tax rate (193 ) (0.7 % ) (388 ) (1.8 %) — 0.0 % Transition tax — 0.0 % (1,338 ) (6.2 %) 3,266 45.1 % Uncertain tax provisions 1,069 4.1 % 1,021 4.8 % 241 3.3 % Change in valuation allowance (125 ) (0.5 % ) 125 0.6 % (12,164 ) (167.8 %) Return to provision adjustments (79 ) (0.3 % ) 33 0.2 % (161 ) (2.2 %) Other (218 ) (0.8 % ) (1 ) (0.1 %) 222 3.0 % Income tax provision (benefit) $ 4,740 18.1 % $ 4,819 22.5 % $ (21,105 ) (291.2 %)
Summary of Tax Returns Periods Subject to Examination by Federal, State and International Taxing Authorities	The Company’s tax returns are subject to examination by federal, state and international taxing authorities for the following periods: Jurisdiction Fiscal Years to United States – 2016 2019 Sweden 2012 2019 Germany 2017 2019 Netherlands 2013 2019
Reconciliation of Unrecognized Tax Benefits	The following is a tabular reconciliation of the total amounts of unrecognized tax benefits: For the Years Ended December 31, 2019 2018 (Amounts in thousands) Balance of gross unrecognized tax benefits, beginning of period $ 2,852 $ 1,806 Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period 602 1,062 Gross amounts of decreases in unrecognized tax benefits as a result of tax positions taken in the prior period (16 ) — Gross amounts of decrease due to release (16 ) (16 ) Balance of gross unrecognized tax benefits, end of period $ 3,422 $ 2,852

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
Stockholders' Equity (Tables)	Dec. 31, 2019
Stock-Based Compensation Expense	The following table presents stock-based compensation expense in the Company’s consolidated statements of comprehensive income: For the Years Ended December 31, 2019 2018 2017 (Amounts in thousands) Cost of product revenue $ 1,368 $ 1,019 $ 704 Research and development 1,373 917 481 Selling, general and administrative 10,106 8,256 5,562 Total stock-based compensation $ 12,847 $ 10,192 $ 6,747
Estimated Weighted Average Assumptions	The fair value of share-based awards granted during the years ended December 31, 2019, 2018 and 2017 were calculated using the following estimated assumptions: For the Years Ended December 31, 2019 2018 2017 Expected term (in years) 5.5 6.5 5.5 7.5 6.1 Expected volatility (range) 45.14 50.87 45.14 50.87 51.48% Risk-free interest rate 1.55 2.56 2.63 2.96 1.88 1.99 Expected dividend yield 0% 0% 0%
Summary of Option Activity	Information regarding option activity for the year ended December 31, 2019 under the Plans is summarized below: Shares Weighted average exercise price Weighted- (in Years) Aggregate (in Thousands) Options outstanding at December 998,226 $ 27.54 Granted 54,996 $ 64.14 Exercised (87,663 ) $ 13.30 Forfeited/expired/cancelled (8,000 ) $ 43.60 Options outstanding at December 31, 2019 957,559 $ 30.81 6.69 $ 59,073 Options exercisable at December 31, 2019 513,577 $ 24.44 5.39 $ 34,954 Vested and expected to vest at December 31, 2019 (1) 923,355 6.63 $ 57,235 (1) Represents the number of vested options as of December 31, 2019 plus the number of unvested options expected to vest as of December 31, 2019 based on the unvested outstanding options at December 31, 2019 adjusted for estimated forfeiture rates of 8 non-executive 3
Summary of Restricted Stock Unit Activity	The fair value of stock units is calculated using the closing price of the Company’s common stock on the date of grant. Information regarding stock unit activity , which includes activity for restricted stock units and performance stock units, for the ended December , under the Plans is summarized below: Shares Weighted- (in Years) Aggregate Value (in Thousands) Unvested at December 31, 2018 705,413 Awarded 328,812 Vested (251,776 ) Forfeited/expired/cancelled (47,465 ) Unvested at December 31, 2019 734,984 3.81 $ 67,986 Vested and expected to vest at December 31, 2019 (1) 675,618 3.34 $ 62,495 (1) Represents the number of vested stock units as of December 31, 2019 plus the number of unvested stock units expected to vest as of December 31, 2019 based on the unvested outstanding stock units at December 31, 2019 adjusted for estimated forfeiture rates 8 for awards granted to non-executive 3

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	12 Months Ended
Convertible Senior Notes (Tables)	Dec. 31, 2019
Carrying Value of Convertible Senior Notes	The carrying value of the Company’s convertible senior notes is as follows: December 31, 2019 2018 (Amounts in thousands) 0.375% convertible senior notes due 2024: Principal amount $ 287,500 $ — Unamortized debt discount (47,921 ) — Unamortized debt issuance costs (6,812 ) — 2.125% convertible senior notes due 2021: Principal amount — 114,989 Unamortized debt discount — (9,781 ) Unamortized debt issuance costs — (1,720 ) Total convertible senior notes $ 232,767 $ 103,488
Convertible Notes Equity Component	The net carrying value of the equity component of the 2019 Notes is as follows (amounts in thousands): December 31, 2019 Proceeds allocated to the conversion feature $ 52,062 Less: transaction costs allocated to the conversion feature (1,621 ) Less: deferred taxes (11,371 ) Net carrying value $ 39,070

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Dec. 31, 2019
Summary of Changes in Accumulated Other Comprehensive Income	Changes in accumulated other comprehensive loss consisted of the following for the years ended December 31, 2019 and 2018: Foreign Balance as of December 31, 2017 $ (6,363 ) Other comprehensive loss (5,530 ) Balance as of December 31, 2018 (11,893 ) Other comprehensive loss (3,134 ) Balance as of December 31, 2019 $ (15,027 )

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
Selected Quarterly Financial Data (Unaudited) (Tables)	Dec. 31, 2019
Consolidated Statements of Operations Information for Each of Previous Eight Quarters	For the Years Ended December 31, 2019 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 60,634 $ 70,692 $ 69,445 $ 69,474 Gross profit 33,789 39,984 38,020 39,353 Operating expenses 49,463 59,638 61,481 63,580 Net income 8,053 8,095 1,659 3,604 Earnings per share: Basic $ 0.18 $ 0.17 $ 0.03 $ 0.07 Diluted $ 0.17 $ 0.17 $ 0.03 $ 0.07 For the Years Ended December 31, 2018 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 44,830 $ 47,731 $ 49,529 $ 51,942 Gross profit 25,162 26,643 27,346 28,350 Operating expenses 38,854 43,458 41,643 44,089 Net income 3,448 2,738 4,794 5,638 Earnings per share: Basic $ 0.08 $ 0.06 $ 0.11 $ 0.13 Diluted $ 0.08 $ 0.06 $ 0.10 $ 0.12

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)Segment$ / sharesshares	Dec. 31, 2018USD ($)Segment$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Jul. 31, 2019USD ($)	Jan. 01, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on investments		$ 0	$ 0
Stock options, outstanding \| shares	957,559	998,226
Stock options, weighted average exercise price \| $ / shares	$ 30.81	$ 27.54
Common stock excluded from calculation of diluted earnings per share \| shares	104,316	479,854	317,923
Convertible senior notes \| shares	0	1,123,139	474,923
Number of operating segment \| Segment	1
Number of reporting segment \| Segment	1	2
Goodwill impairment	$ 0	$ 0	$ 0
Advertising Expense	100,000	200,000	200,000
Operating Lease, ROU assets	25,707,000
Deferred Rent Credit		4,000,000
Lease liabilities	30,552,000
Cash and cash equivalents	528,392,000	193,822,000	$ 173,759,000
Restricted Cash	9,000,000
Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 415,600,000	$ 126,600,000
Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, ROU assets					$ 17,000,000
Lease liabilities					$ 21,000,000
0.375% Convertible Senior Notes due 2024
Summary Of Significant Accounting Policies [Line Items]
Principal amount				$ 287,500,000
Notes, due date	Jul. 15, 2024
Notes, frequency of periodic payment	semi-annually
Total convertible senior notes				296,100,000
Fair value of convertible senior notes				$ 232,800,000
Senior convertible notes	0.375%			0.375%
Awards Granted to Executive Level Employees
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	3.00%
Awards Granted to Non-Executive Level Employees
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	8.00%
Option To Purchase Common Stock
Summary Of Significant Accounting Policies [Line Items]
Stock options, outstanding \| shares	957,559	998,226	734,940
Stock options, weighted average exercise price \| $ / shares		$ 27.54	$ 20.80
Restricted Stock Units (RSUs)
Summary Of Significant Accounting Policies [Line Items]
Restricted stock units, outstanding \| shares	734,984	705,413	505,235
Restricted Stock Units (RSUs) \| Awards Granted to Executive Level Employees
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	3.00%
Restricted Stock Units (RSUs) \| Awards Granted to Non-Executive Level Employees
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	8.00%
Non-Employee Directors
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	0.00%
Employee Stock Option [Member] \| Awards Granted to Executive Level Employees
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	3.00%
Employee Stock Option [Member] \| Awards Granted to Non-Executive Level Employees
Summary Of Significant Accounting Policies [Line Items]
Estimated forfeiture rates	8.00%

Schedule of Cash, Cash Equivale

Schedule of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 528,392	$ 193,822	$ 173,759
Restricted cash	9,015
Total cash, cash equivalents, and restricted cash	$ 537,407	$ 193,822	$ 173,759	$ 122,683

Estimated Useful Life of Assets

Estimated Useful Life of Assets (Detail)	12 Months Ended
Estimated Useful Life of Assets (Detail)	Dec. 31, 2019
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	30 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	Shorter of the term of the lease or estimated useful life
Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	12 years
Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Furniture Fixtures And Office Equipment Member [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	8 years
Furniture Fixtures And Office Equipment Member [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Computer Hardware And Software member [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Computer Hardware And Software member [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years

Reconciliation of Basic and Dil

Reconciliation of Basic and Diluted Shares Amounts (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income	$ 3,604	$ 1,659	$ 8,095	$ 8,053	$ 5,638	$ 4,794	$ 2,738	$ 3,448	$ 21,411	$ 16,617	$ 28,353
Weighted average shares used in computing net income per share - basic									48,343,000	43,767,000	38,234,000
Effect of dilutive shares:
Stock options and restricted stock awards									864,000	581,000	441,000
Convertible senior notes									0	1,123,139	474,923
Dilutive potential common shares									864,000	1,704,000	916,000
Weighted average shares used in computing net income per share - diluted									49,206,000	45,471,000	39,150,000
Earnings per share:
Basic	$ 0.07	$ 0.03	$ 0.17	$ 0.18	$ 0.13	$ 0.11	$ 0.06	$ 0.08	$ 0.44	$ 0.38	$ 0.74
Diluted	$ 0.07	$ 0.03	$ 0.17	$ 0.17	$ 0.12	$ 0.10	$ 0.06	$ 0.08	$ 0.44	$ 0.37	$ 0.72

Summary of Product Revenues by

Summary of Product Revenues by Product Line (Detail) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Revenue from External Customer [Line Items]

Revenue

$ 69,474

$ 69,445

$ 70,692

$ 60,634

$ 51,942

$ 49,529

$ 47,731

$ 44,830

$ 270,245

$ 194,032

$ 141,236

Chromatography Products [Member]

Revenue from External Customer [Line Items]

Revenue

64,635

[1]

45,326

36,309

[2]

Filtration Products [Member]

Revenue from External Customer [Line Items]

Revenue

119,534

[1]

90,586

49,050

[2]

Process Analytics Products [Member]

Revenue from External Customer [Line Items]

Revenue

[1]

16,405

Proteins Products [Member]

Revenue from External Customer [Line Items]

Revenue

65,124

[1]

54,375

53,969

[2]

Other products [Member]

Revenue from External Customer [Line Items]

Revenue

4,399

[1]

3,604

1,761

[2]

Products

Revenue from External Customer [Line Items]

Revenue

$ 270,097

[1]

$ 193,891

$ 141,089

[2]

[1]

2019 revenue for process analytics products includes revenue related to C Technologies from May 31, 2019 through December 31, 2019.

[2]

2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017.

Percentage of Revenue by Geogra

Percentage of Revenue by Geographic Area (Detail) - Total Revenue - Geographic Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Revenues, percentage by country	100.00%	100.00%	100.00%
North America [Member]
Concentration Risk [Line Items]
Revenues, percentage by country	51.00%	48.00%	43.00%
Europe [Member]
Concentration Risk [Line Items]
Revenues, percentage by country	37.00%	40.00%	46.00%
APAC [Member]
Concentration Risk [Line Items]
Revenues, percentage by country	12.00%	12.00%	11.00%
All Other [Member]
Concentration Risk [Line Items]
Revenues, percentage by country	0.00%	0.00%	0.00%

Total Assets by Geographic Area

Total Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,400,113	$ 774,621
North America
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,260,217	665,833
Europe
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	133,599	104,750
APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 6,297	$ 4,038

Long Lived Assets by Geographic

Long Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Long Lived Assets	$ 74,400	$ 32,354
North America
Segment Reporting, Asset Reconciling Item [Line Items]
Long Lived Assets	66,756	26,344
Europe
Segment Reporting, Asset Reconciling Item [Line Items]
Long Lived Assets	6,775	5,162
APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Long Lived Assets	$ 869	$ 848

Percentage of Revenue from Sign

Percentage of Revenue from Significant Customers (Detail) - Customer Concentration Risk - Sales Revenue	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
MilliporeSigma
Revenue, Major Customer [Line Items]
Revenue from significant customers as a percentage of total revenue	13.00%	15.00%	18.00%
GE Healthcare
Revenue, Major Customer [Line Items]
Revenue from significant customers as a percentage of total revenue	12.00%	15.00%	21.00%

Percentage of Accounts Receivab

Percentage of Accounts Receivable by Significant Customers (Detail) - Customer Concentration Risk - Accounts Receivable	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
GE Healthcare
Concentration Risk [Line Items]
Accounts receivable, percentage by customer	18.00%	17.00%
MilliporeSigma
Concentration Risk [Line Items]
Accounts receivable, percentage by customer		11.00%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 01, 2017	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Value of common stock issued			$ 53,938		$ 247,575
Working capital adjustment					425
Fair value of tangible assets acquired		$ 30,756	30,756		19,709
Fair value of acquired finite lived intangible assets		90,830	90,830		120,080
Deferred tax asset		895	895
Employees
Business Acquisition [Line Items]
Transaction costs			9,000
Business combination separtely recognised transactions liabiliites recognised		5,200	5,200
Selling, general and administrative
Business Acquisition [Line Items]
Transaction costs		4,000	4,000
Spectrum Inc.
Business Acquisition [Line Items]
Cash consideration	$ 122,932
Shares issued for business acquisition	6,153,995
Value of common stock issued	$ 247,575
Working capital adjustment	425
Business combination, consideration transferred	370,932
Fair value of net assets acquired	370,900
Fair value of acquired finite lived intangible assets		90,800	90,800
Acquisition of C Technologies, Inc.				$ 203
Business acquisition, revenue	$ 19,400
Cash consideration for future employment			9,000
Business acquisitions proforma net loss					17,220
Spectrum Inc. \| Selling, general and administrative
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs				2,900	$ 7,100
C Technologies, Inc.
Business Acquisition [Line Items]
Cash			195,000
Cash consideration			$ 185,949
Shares issued for business acquisition			779,221
Value of common stock issued			$ 53,938
Business combination, consideration transferred			239,887
Fair value of net assets acquired		239,887	239,887
Fair value of tangible assets acquired		7,100	7,100
Acquisition of C Technologies, Inc.			142,021
Business acquisition, revenue		16,400
Business acquisitions proforma net loss		7,400	23,394	$ 21,195
Deferred tax asset		900	900
C Technologies, Inc. \| Accounting Standards Update Two Thousands Fifteen to Sixteen [Member]
Business Acquisition [Line Items]
Cash consideration			186,000
C Technologies, Inc. \| Goodwill [Member]
Business Acquisition [Line Items]
Intangible Asset Residual Value		$ 142,000	$ 142,000

Acquisitions (Consideration Tra

Acquisitions (Consideration Transferred) (Detail) - USD ($) $ in Thousands	Aug. 01, 2017	Dec. 31, 2019	Dec. 31, 2017
Business Acquisition [Line Items]
Equity consideration		$ 53,938	$ 247,575
Working capital adjustment			$ 425
C Technologies, Inc.
Business Acquisition [Line Items]
Cash consideration		185,949
Equity consideration		53,938
Fair value of net assets acquired		$ 239,887
Spectrum Inc.
Business Acquisition [Line Items]
Cash consideration	$ 122,932
Equity consideration	247,575
Working capital adjustment	425
Fair value of net assets acquired	$ 370,932

Acquisitions (Fair Value of Net

Acquisitions (Fair Value of Net Assets Acquired) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Accounts receivable	$ 3,044		$ 5,075
Business combination, intangible assets	90,830		120,080
Goodwill	468,413	$ 326,735	327,333
Deferred taxes			$ 43,608
C Technologies
Business Acquisition [Line Items]
Cash and cash equivalents	3,795
Restricted cash	26,933
Accounts receivable	3,044
Inventory	3,783
Prepaid expenses and other current assets	93
Fixed assets	40
Operating lease right of use asset	3,836
Goodwill	142,021
Accounts payable	(436)
Accrued liabilities	(2,474)
Accrued bonus	(26,928)
Deferred revenue	(1,709)
Operating lease liability	(51)
Operating lease liability, long-term	(3,785)
Deferred taxes	895
Fair value of net assets acquired	239,887
C Technologies \| Customer relationships
Business Acquisition [Line Items]
Business combination, intangible assets	59,680
C Technologies \| Technology—developed
Business Acquisition [Line Items]
Business combination, intangible assets	28,920
C Technologies \| Trademark
Business Acquisition [Line Items]
Business combination, intangible assets	1,570
C Technologies \| Non-compete agreements
Business Acquisition [Line Items]
Business combination, intangible assets	$ 660

Acquisitions (Estimated Useful

Acquisitions (Estimated Useful Life and Fair Value) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Fair Value	$ 90,830
Customer Relationships [Member]
Weighted Average Useful Life (in years)	17 years
Fair Value	$ 59,680
Developed Technology Rights [Member]
Weighted Average Useful Life (in years)	18 years
Fair Value	$ 28,920
Trademark and tradename [Member]
Weighted Average Useful Life (in years)	20 years
Fair Value	$ 1,570
Noncompete Agreements [Member]
Weighted Average Useful Life (in years)	4 years
Fair Value	$ 660

Acquisitions (Unaudited Supplem

Acquisitions (Unaudited Supplemental Pro Forma Information) (Detail) - USD ($) $ / shares in Units, $ in Thousands	7 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
C Technologies [Member]
Business Acquisition [Line Items]
Total revenue		$ 279,434	$ 217,739
Net income (loss)	$ 7,400	$ 23,394	$ 21,195
Basic		$ 0.48	$ 0.44
Diluted		$ 0.48	$ 0.43
Spectrum Inc. [Member]
Business Acquisition [Line Items]
Total revenue				$ 162,913
Net income (loss)				$ 17,220
Basic				$ 0.41
Diluted				$ 0.40

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	12 Months Ended
Leases - Additional Information (Detail) $ in Thousands	Dec. 31, 2019USD ($)Lease	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Operating lease right of use assets	$ 25,707
Operating lease liabilities	30,552
Deferred Rent Credit			$ 4,000
Increase in right of use asset	6,100
Increase in operating lease liabilities	$ 6,100
Waltham And Massachusetts [Member]
Number Of Operating leases \| Lease	0.02
Accounting Standards Update 2016-02 [Member]
Operating lease right of use assets		$ 17,000
Operating lease liabilities		$ 21,000

Leases (Maturities of lease lia

Leases (Maturities of lease liabilities) (Detail) $ in Thousands	Dec. 31, 2019USD ($)
2020	$ 3,692
2021	5,812
2022	4,830
2023	3,911
2024	3,514
2025 and thereafter	16,511
Total future minimum lease payments	38,270
Less: amount of lease payment representing interest	7,718
Total operating lease liabilities	$ 30,552

Leases (Consolidated Balance Sh

Leases (Consolidated Balance Sheet) (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease liability	$ 3,557
Operating lease liability, long-term	26,995
Minimum operating lease payments	$ 30,552

Leases (Consolidated Statements

Leases (Consolidated Statements of Comprehensive Income) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Operating lease cost	$ 4,480
Variable operating lease cost	1,480
Lease, cost	$ 5,960

Leases (Consolidated Statemen_2

Leases (Consolidated Statements of Cash flows Related to Operating Leases) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Operating cash flows from operating leases	$ (4,004)

Leases (Operating Lease Liabili

Leases (Operating Lease Liabilities) (Detail)	Dec. 31, 2019
Weighted average remaining lease term (years)	8 years 18 days
Weighted average discount rate	4.91%

Summary of Disaggregation of Pr

Summary of Disaggregation of Product Revenues from Contracts with Customers by Major Product Line (Detail) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Disaggregation of Revenue [Line Items]

Revenue

$ 69,474

$ 69,445

$ 70,692

$ 60,634

$ 51,942

$ 49,529

$ 47,731

$ 44,830

$ 270,245

$ 194,032

$ 141,236

Product

Disaggregation of Revenue [Line Items]

Revenue

270,097

[1]

193,891

141,089

[2]

Royalty and Other Revenue

Disaggregation of Revenue [Line Items]

Revenue

$ 148

$ 141

$ 147

[1]

2019 revenue for process analytics products includes revenue related to C Technologies from May 31, 2019 through December 31, 2019.

[2]

2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017.

Revenue from Significant Custom

Revenue from Significant Customers (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Revenue	$ 69,474	$ 69,445	$ 70,692	$ 60,634	$ 51,942	$ 49,529	$ 47,731	$ 44,830	$ 270,245	$ 194,032	$ 141,236
MilliporeSigma
Concentration Risk [Line Items]
Revenue									36,190	29,843	25,061
GE Healthcare
Concentration Risk [Line Items]
Revenue									$ 31,441	$ 29,616	$ 30,150

Summary of Receivables and Defe

Summary of Receivables and Deferred Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Balances from contracts with customers only:
Accounts receivable	$ 43,068	$ 33,015
Deferred revenue (included in accrued liabilities in the consolidated balance sheets)	5,005
Revenue recognized during 2019 relating to:
The beginning deferred revenue balance	$ 833

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail)	12 Months Ended
Revenue Recognition - Additional Information (Detail)	Dec. 31, 2019USD ($)
Other Revenues [Line Items]
Impairment losses on receivables	$ 0

Changes in Carrying Value of Go

Changes in Carrying Value of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Balance	$ 326,735	$ 327,333
Cumulative translation adjustment	(343)	(801)
Balance	468,413	326,735
C Technologies, Inc.
Goodwill [Line Items]
Goodwill arising from Acquisition	142,021
Balance	$ 142,021
Spectrum Inc.
Goodwill [Line Items]
Goodwill arising from Acquisition		$ 203

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets [Line Items]
Gross Carrying Value	$ 248,683	$ 158,236
Gross Carrying Value	249,383	158,936
Accumulated Amortization	(36,831)	(23,498)
Net Carrying Value	211,852	134,738
Net Carrying Value	$ 212,552	$ 135,438
Weighted Average Useful Life (in years)	16 years	16 years
Trademark
Intangible Assets [Line Items]
Gross Carrying Value	$ 700	$ 700
Net Carrying Value	700	700
Technology—developed
Intangible Assets [Line Items]
Gross Carrying Value	82,169	53,315
Accumulated Amortization	(9,669)	(5,942)
Net Carrying Value	$ 72,500	$ 47,373
Weighted Average Useful Life (in years)	19 years	19 years
Patents
Intangible Assets [Line Items]
Gross Carrying Value	$ 240	$ 240
Accumulated Amortization	$ (240)	$ (240)
Weighted Average Useful Life (in years)	8 years	8 years
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Value	$ 160,825	$ 101,460
Accumulated Amortization	(25,642)	(16,609)
Net Carrying Value	$ 135,183	$ 84,851
Weighted Average Useful Life (in years)	15 years	14 years
Trademark
Intangible Assets [Line Items]
Gross Carrying Value	$ 3,752	$ 2,160
Accumulated Amortization	(333)	(159)
Net Carrying Value	$ 3,419	$ 2,001
Weighted Average Useful Life (in years)	20 years	20 years
Other intangibles
Intangible Assets [Line Items]
Gross Carrying Value	$ 1,697	$ 1,061
Accumulated Amortization	(947)	(548)
Net Carrying Value	$ 750	$ 513
Weighted Average Useful Life (in years)	3 years	3 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Liabilities [Line Items]
Amortization expense	$ 13,600	$ 10,600	$ 6,200
Deferred tax assets	895
C Technologies, Inc.
Finite-Lived Intangible Liabilities [Line Items]
Deferred tax assets	$ 900

Amortization Expense for Amorti

Amortization Expense for Amortized Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Liabilities [Line Items]
2020	$ 15,288
2021	14,813
2022	14,811
2023	14,715
2024	14,273
2025 and thereafter	137,952
Total	$ 211,852	$ 134,738

Schedule of Inventories (Detail

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Raw materials	$ 29,328	$ 24,937
Work-in-process	8,360	5,185
Finished products	17,144	12,141
Total inventories, net	$ 54,832	$ 42,263

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Prepaid Expenses And Other Current Assets [Line Items]
Equipment maintenance and services	$ 1,662	$ 1,677
Prepaid taxes	2,719	843
Prepaid insurance	80	629
Deferred costs		55
Other	1,456	697
Total prepaid expenses and other current assets	$ 5,917	$ 3,901

Property, Plant and Equipment (

Property, Plant and Equipment (Detail) - USD ($) $ in Thousands		Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Land		$ 1,023	$ 1,023
Buildings		764	764
Leasehold improvements		23,905	16,259
Equipment		36,257	24,092
Furniture, fixtures and office equipment		6,312	4,914
Computer hardware and software		8,810	534
Construction in progress	[1]	6,707	12,906
Other		56
Total property, plant and equipment		83,834	60,492
Less - Accumulated depreciation		(35,379)	(28,312)
Total property, plant and equipment, net		$ 48,455	$ 32,180

[1]	Construction in progress as of December 31, 2019 primarily includes $4.2 million for the buildout of our Waltham and Marlborough, Massachusetts facilities, $1.1 million of other manufacturing improvements in Waltham and Marlboro and $0.6 million in manufacturing improvements at our Rancho Dominguez, California facility. Construction in progress as of December 31, 2018 includes $7.3 million for the buildout of our Marlborough facility, $2.1 million in capitalized internal-use software development costs and $2.1 million for a casting machine, among other projects.

Consolidated Balance Sheet - Ad

Consolidated Balance Sheet - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Construction in Progress, Gross	[1]	$ 6,707	$ 12,906
Depreciation		7,300	5,200	$ 4,200
Waltham And Marlborough [Member]
Construction in Progress, Gross		4,200
Waltham And Marlboro [Member]
Construction in Progress, Gross		1,100
Rancho Dominguez [Member]
Construction in Progress, Gross		600
Marlborough facility [Member]
Construction in Progress, Gross			7,300
Software Development [Member]
Construction in Progress, Gross			2,100
Casting Machine [Member]
Construction in Progress, Gross		$ 400	$ 2,100

[1]	Construction in progress as of December 31, 2019 primarily includes $4.2 million for the buildout of our Waltham and Marlborough, Massachusetts facilities, $1.1 million of other manufacturing improvements in Waltham and Marlboro and $0.6 million in manufacturing improvements at our Rancho Dominguez, California facility. Construction in progress as of December 31, 2018 includes $7.3 million for the buildout of our Marlborough facility, $2.1 million in capitalized internal-use software development costs and $2.1 million for a casting machine, among other projects.

Schedule of Accrued Liabilities

Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Accrued Liabilities [Line Items]
Employee compensation	$ 19,850	$ 9,953
Taxes	3,874	1,024
Royalty and license fees	123	242
Warranties	1,500	546
Professional fees	1,081	942
Deferred revenue	5,005	1,290
Other	1,898	1,868
Total accrued liabilities	$ 33,331	$ 15,865

Income Before Income Taxes (Det

Income Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Income Before Income Tax [Line Items]
Domestic	$ (5,432)	$ (73)	$ (6,709)
Foreign	31,583	21,509	13,957
Income before income taxes	$ 26,151	$ 21,436	$ 7,248

Current, Deferred and Equity In

Current, Deferred and Equity Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Current	$ 8,290	$ 4,354	$ 3,624
Deferred	(5,287)	465	(24,729)
Equity	1,737
Total	$ 4,740	$ 4,819	$ (21,105)

Provision for Income Taxes by J

Provision for Income Taxes by Jurisdiction (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Federal	$ (965)	$ (393)	$ (24,012)
State	(1,764)	718	(438)
Foreign	7,469	4,494	3,345
Total	$ 4,740	$ 4,819	$ (21,105)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Income Taxes [Line Items]
Valuation allowance increase (decrease)	$ (100)	$ 100
Impact of unrecognized tax benefits on effective tax rate	3,400
Interest and penalties related to income taxes	5,000	1,000	$ 1,000
Interest and penalties accrued	$ 41,000	$ 46,000
Corporate tax rate	21.00%	21.00%	35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 12,800
Tax cuts and jobs Act, increased tax provision on undistributed and previously untaxed post-1986 earnings and profits of the specified foreign corporation	$ 0	$ (1,338)	$ 3,266
Impact on assets and liabilities due to change in accounting principle		$ (677)
Undistributed earnings of foreign subsidiaries	93,500
Foreign earnings subject to one time transition tax	58,000
Accounting Standards Update 2016-06 [Member] \| Other Assets [Member]
Income Taxes [Line Items]
Impact on assets and liabilities due to change in accounting principle				$ 5,700
Accounting Standards Update 2016-06 [Member] \| Deferred tax liablities [Member]
Income Taxes [Line Items]
Impact on assets and liabilities due to change in accounting principle				5,000
Accounting Standards Update 2016-06 [Member] \| accumulated deficit [Member]
Income Taxes [Line Items]
Impact on assets and liabilities due to change in accounting principle				$ 700
Latest Tax Year
Income Taxes [Line Items]
Net operating loss and business tax credit carry forwards expiration date		at various dates through December 2039
Domestic Tax Authority
Income Taxes [Line Items]
Net operating loss carry forwards		$ 19,500
State
Income Taxes [Line Items]
Net operating loss carry forwards	200
Federal and State
Income Taxes [Line Items]
Business tax credits carry forwards	1,200
Foreign Tax Authority
Income Taxes [Line Items]
Net operating loss carry forwards	$ 100
United States
Income Taxes [Line Items]
Business tax credits carry forwards		$ 900

Consolidated Deferred Tax Asset

Consolidated Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Temporary timing differences:
Stock-based compensation expense	$ 2,922	$ 2,874
Contingent consideration	2,206	2,263
Operating leases	7,295
Accrued bonus	1,379	3
Other	4,994	3,585
Total temporary timing differences	18,796	8,725
Net operating loss carryforwards	221
Tax business credits carryforwards	924	2,004
Total deferred tax assets	19,941	10,729
Less: valuation allowance	(6)	(131)
Net deferred tax assets	19,935	10,598
Deferred tax liabilities:
Goodwill	(1,288)	(1,076)
Fixed assets	(1,650)	(956)
Acquired intangible assets	(26,811)	(26,903)
Operating lease right of use assets	(6,144)
Conversion option on convertible notes	(11,066)	(2,394)
Total deferred tax liabilities	(46,959)	(31,329)
Total net deferred tax liabilities	$ (27,024)	$ (20,731)

Reconciliation of Federal Statu

Reconciliation of Federal Statutory Rate to Effective Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Rate Reconciliation [Line Items]
Income before income taxes	$ 26,151	$ 21,436	$ 7,248
Expected tax at statutory rate	5,492	4,502	2,537
Adjustments due to:
Difference between U.S. and foreign tax	436	345	(1,797)
State income and franchise tax	(179)	91	(307)
Business tax credits	(2,746)	(1,760)	(708)
Stock-based compensation expense	(1,877)	(1,213)	(946)
Transaction costs			1,232
U.S. taxation of foreign earnings	2,227	2,190
Executive compensation	841	367	265
Other	92	97	205
Change in U.S. federal tax rates			(12,839)
Change in U.S. state tax rates	0	748	(151)
Change in Netherlands tax rate	(193)	(388)
Transition tax	0	(1,338)	3,266
Uncertain tax provisions	1,069	1,021	241
Change in valuation allowance	(125)	125	(12,164)
Return to provision adjustments	(79)	33	(161)
Other	(218)	(1)	222
Income tax (benefit) provision	$ 4,740	$ 4,819	$ (21,105)
Expected tax at statutory rate	21.00%	21.00%	35.00%
Adjustments due to:
Difference between U.S. and foreign tax	1.70%	1.60%	(24.80%)
State income and franchise tax	(0.70%)	0.40%	(4.20%)
Business tax credits	(10.50%)	(8.20%)	(9.80%)
Stock-based compensation expense	(7.20%)	(5.70%)	(13.10%)
Transaction costs	0.00%	0.00%	17.00%
U.S. taxation of foreign earnings	8.50%	10.20%	0.00%
Executive compensation	3.20%	1.70%	3.70%
Other	0.40%	0.50%	2.80%
Change in U.S. federal tax rates	0.00%	0.00%	(177.10%)
Change in U.S. state tax rates	0.00%	3.50%	(2.10%)
Change in Netherlands tax rate	(0.70%)	(1.80%)	0.00%
Transition tax	0.00%	(6.20%)	45.10%
Uncertain tax provisions	4.10%	4.80%	3.30%
Change in valuation allowance	(0.50%)	0.60%	(167.80%)
Return to provision adjustments	(0.30%)	0.20%	(2.20%)
Other	(0.80%)	(0.10%)	3.00%
Income tax (benefit) provision	18.10%	22.50%	(291.20%)

Summary of Tax Returns Periods

Summary of Tax Returns Periods Subject to Examination by Federal, State and International Tax Authorities (Detail)	12 Months Ended
	Dec. 31, 2019
United States \| Earliest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2016
United States \| Latest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2019
Sweden \| Earliest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2012
Sweden \| Latest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2019
Germany \| Earliest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2017
Germany \| Latest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2019
Netherlands \| Earliest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2013
Netherlands \| Latest Tax Year
Income Tax Examination [Line Items]
Fiscal year subject to examination	2019

Reconciliation of Unrecognized

Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Balance of gross unrecognized tax benefits, beginning of period	$ 2,852	$ 1,806
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period	602	1,062
Gross amounts of decreases in unrecognized tax benefits as a result of tax positions taken in the prior period	(16)
Gross amounts of decrease due to release	(16)	(16)
Balance of gross unrecognized tax benefits, end of period	$ 3,422	$ 2,852

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 19, 2019	May 03, 2019	Jul. 03, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders Equity Note Disclosure [Line Items]
Common stock, shares issued	1,587,000	3,144,531	2,807,017	52,078,258	43,917,378
Common stock issue price per share	$ 87	$ 64	$ 42.75
Exercised number of shares				87,663
Net proceeds from public offering	$ 131,100	$ 189,600	$ 129,300	$ 320,713		$ 129,309
Stock-based compensation expense				$ 12,847	$ 10,192	6,747
Stock options, outstanding				957,559	998,226
Aggregate intrinsic value of stock options exercised				$ 5,500	$ 5,300	$ 5,300
Weighted average grant date fair value of share-based awards granted				$ 31.27	$ 18.90	$ 16.94
Total fair value of stock options vested				$ 3,100	$ 2,300	$ 2,200
Total unrecognized compensation cost				$ 36,400
Unrecognized compensation cost, weighted average remaining requisite service period				4 years 1 month 2 days
Number of unvested options and restricted stock units				1,688,497
2018 Plan
Stockholders Equity Note Disclosure [Line Items]
Common stock shares reserved for Issuance					2,778,000
Incentive options, vesting period				2,555,281
Employee Stock Option \| Minimum \| Vest Over Three Year
Stockholders Equity Note Disclosure [Line Items]
Incentive options, vesting percentage				20.00%
Employee Stock Option \| Maximum \| Vest Over Five Year
Stockholders Equity Note Disclosure [Line Items]
Incentive options, vesting percentage				33.00%
Option To Purchase Common Stock
Stockholders Equity Note Disclosure [Line Items]
Stock options, outstanding				957,559	998,226	734,940
Restricted Stock Units (RSUs)
Stockholders Equity Note Disclosure [Line Items]
Restricted stock units, outstanding				734,984	705,413	505,235
Closing price of common stock				$ 92.50
Aggregate intrinsic value of restricted stock units vested				$ 17,500	$ 6,200	$ 4,000
Weighted average grant date fair value of restricted stock units granted				$ 49.68	$ 30.30	$ 26.03
Total grant date fair value of restricted stock units vested				$ 8,500	$ 4,600	$ 4,000
Underwriters \| Common Stock
Stockholders Equity Note Disclosure [Line Items]
Exercised number of shares	207,000	410,156	421,052

Stock-Based Compensation Expens

Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 12,847	$ 10,192	$ 6,747
Cost of product revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,368	1,019	704
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,373	917	481
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 10,106	$ 8,256	$ 5,562

Estimated Weighted Average Assu

Estimated Weighted Average Assumptions (Detail)	12 Months Ended
Estimated Weighted Average Assumptions (Detail)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)			6 years 1 month 6 days
Expected volatility (range)			51.48%
Expected volatility (range), minimum	45.14%	45.14%
Expected volatility (range), maximum	50.87%	50.87%
Risk-free interest rate, minimum	1.55%	2.63%	1.88%
Risk-free interest rate, maximum	2.56%	2.96%	1.99%
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months	5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 6 months	7 years 6 months

Summary of Option Activity (Det

Summary of Option Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Options Outstanding
Options outstanding at December 31, 2018 \| shares	998,226
Granted \| shares	54,996
Exercised \| shares	(87,663)
Forfeited/expired/cancelled	(8,000)
Options outstanding at December 31, 2019 \| shares	957,559
Options exercisable at December 31, 2019 \| shares	513,577
Vested and expected to vest at December 31, 2019 \| shares	923,355	[1]
Weighted-Average Exercise Price Per Share
Options outstanding at December 31, 2018 \| $ / shares	$ 27.54
Granted \| $ / shares	64.14
Exercised \| $ / shares	13.30
Forfeited/expired/cancelled \| $ / shares	43.60
Options outstanding at December 31, 2019 \| $ / shares	30.81
Options exercisable at December 31, 2019 \| $ / shares	$ 24.44
Weighted-Average Remaining Contractual Term (in years)
Options outstanding at December 31, 2019	6 years 8 months 8 days
Options exercisable at December 31, 2019	5 years 4 months 20 days
Vested and expected to vest at December 31, 2019	6 years 7 months 17 days	[1]
Aggregate Intrinsic Value
Options outstanding at December 31, 2019 \| $	$ 59,073
Options exercisable at December 31, 2019 \| $	34,954
Vested and expectd to vest at December 31, 2019 \| $	$ 57,235	[1]

[1]	Represents the number of vested options as of December 31, 2019 plus the number of unvested options expected to vest as of December 31, 2019 based on the unvested outstanding options at December 31, 2019 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Option Activity (Par

Summary of Option Activity (Parenthetical) (Detail)	Dec. 31, 2019
Awards Granted to Non-Executive Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture rates	8.00%
Awards Granted to Executive Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture rates	3.00%
Employee Stock Option \| Awards Granted to Non-Executive Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture rates	8.00%
Employee Stock Option \| Awards Granted to Executive Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture rates	3.00%

Summary of Restricted Stock Uni

Summary of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)shares
Options Outstanding
Unvested at December 31, 2018	705,413
Awarded	328,812
Vested	(251,776)
Forfeited/expired/cancelled	(47,465)
Unvested at December 31, 2019	734,984
Vested and expected to vest at December 31, 2019	675,618	[1]
Weighted-Average Remaining Contractual Term (in years)
Unvested at December 31, 2019	3 years 9 months 21 days
Vested and expected to vest at December 31, 2019	3 years 4 months 2 days	[1]
Aggregate Intrinsic Value
Unvested at December 31, 2019 \| $	$ 67,986
Vested and expected to vest at December 31, 2019 \| $	$ 62,495	[1]

[1]	Represents the number of vested stock units as of December 31, 2019 plus the number of unvested stock units expected to vest as of December 31, 2019 based on the unvested outstanding stock units at December 31, 2019 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Restricted Stock U_2

Summary of Restricted Stock Unit Activity (Parenthetical) (Detail)	Dec. 31, 2019
Awards Granted to Non-Executive Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture rates	8.00%
Awards Granted to Executive Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture rates	3.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)l	Dec. 31, 2018USD ($)
Maximum [Member]
Commitments and Contingencies [Line Items]
Bioreactors used in perfusion cell culture applications	2,000
Minimum [Member]
Commitments and Contingencies [Line Items]
Bioreactors used in perfusion cell culture applications	50
NGL Impact A [Member] \| Research and Development Arrangement [Member]
Commitments and Contingencies [Line Items]
Payments to Navigo in connection with this program, which are recorded to research and development expenses \| $	$ 1	$ 2.4

Carrying Value of Convertible S

Carrying Value of Convertible Senior Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
0.375%Convertible Senior Notes due 2024
Debt Instrument [Line Items]
Principal amount	$ 287,500
Unamortized debt discount	(47,921)
Unamortized debt issuance costs	(6,812)
Total convertible senior notes	$ 232,767
2.125% Convertible Senior Notes due 2021
Debt Instrument [Line Items]
Principal amount		$ 114,989
Unamortized debt discount		(9,781)
Unamortized debt issuance costs		(1,720)
Total convertible senior notes		$ 103,488

Carrying Value of Convertible_2

Carrying Value of Convertible Senior Notes (Parenthetical) (Detail)	Jul. 19, 2019	Dec. 31, 2019
0.375% Convertible Senior Notes due 2024
Debt Instrument [Line Items]
Notes, interest rate		0.375%
Notes, due date		Jul. 15, 2024
2.125% Convertible Senior Notes due 2021
Debt Instrument [Line Items]
Notes, interest rate		2.125%
Notes, due date	Jun. 1, 2021	Jun. 1, 2021

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail)	Jul. 22, 2019USD ($)shares	Jul. 19, 2019USD ($)$ / shares	Sep. 23, 2019USD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jul. 16, 2019USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of convertible senior notes, net of costs				$ 278,466,000
Accretion of the debt discount				7,536,000	$ 4,248,000	$ 3,977,000
Transaction costs attributable to equity component				1,621,000
Total consideration on conversion				198,757,000
Equity component of converted debt				39,070,000
Loss on extinguishment of debt				$ 5,650,000
0.375% Convertible Senior Notes due 2024
Debt Instrument [Line Items]
Notes issued		$ 287,500,000
Notes, interest rate		0.375%		0.375%
Proceeds from issuance of convertible senior notes, net of costs		$ 278,500,000
Interest repayment terms		Interest is payable semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2020.
Notes, due date		Jul. 15, 2024
Notes conversion ratio per $1,000 principal amount		8.6749
Notes initial conversion price \| $ / shares		$ 115.28
Notes redemption price		100.00%
Contractual coupon interest				$ 500,000
Accretion of the debt discount				4,100,000
Amortization of the debt issuance costs				$ 600,000
Effective interest rate on the Notes				5.10%
Notes, carrying value				$ 232,800,000
Fair value of the note				$ 296,100,000
Additional Notes issued		$ 37,500,000
Discount rate				4.50%
Proceeds allocated to the conversion feature				$ 52,100,000
Transaction costs attributable to liability component				7,400,000
Transaction costs attributable to equity component				1,600,000
2.125% Convertible Senior Notes due 2021
Debt Instrument [Line Items]
Notes issued				$ 115,000,000			$ 92,000,000
Notes, interest rate				2.125%
Notes, due date		Jun. 1, 2021		Jun. 1, 2021
Notes issued, fair value				$ 96,300,000
Contractual coupon interest				1,300,000
Accretion of the debt discount				2,400,000
Amortization of the debt issuance costs				$ 400,000
Effective interest rate on the Notes				6.60%
Notes, carrying value					$ 103,488,000
Repayment Of Senior Debt		$ 92,300,000	$ 23,000,000
Accrued interest		$ 300,000
Total consideration on conversion	$ 253,300,000
Face amount of remaining convertible debt			60,800,000
Equity component of converted debt	$ 163,600,000		38,300,000
Loss on extinguishment of debt			$ 1,100,000	$ 4,600,000
2.125% Convertible Senior Notes due 2021 \| Common Stock [Member]
Debt Instrument [Line Items]
Conversion of Convertible Securities Stock Issued \| shares \| shares	1,850,155		466,045
Conversion of Convertible Securities Stock Issued \| value	$ 161,000,000		$ 37,800,000
2.125% Non Convertible Senior Notes due 2021
Debt Instrument [Line Items]
Effective interest rate on the Notes				3.90%
Equity component of converted debt				$ 200,100,000

Convertible Senior Notes - Conv

Convertible Senior Notes - Convertible Notes Equity Component (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Proceeds allocated to the conversion feature	$ 52,062
Less: transaction costs allocated to the conversion feature	(1,621)
Less: deferred taxes	(11,371)
Net carrying value	$ 39,070

Change in Accumulated Other Com

Change in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 615,568	$ 591,548
Balance	1,059,768	615,568
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(11,893)	(6,363)
Other comprehensive loss	(3,134)	(5,530)
Balance	$ (15,027)	$ (11,893)

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Plans, Defined Benefit \| Sweden
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Defined contribution plan, company contribution	$ 1	$ 0.7	$ 0.5
Minimum
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Defined contribution plan, eligible age of employees	21 years
Defined Contribution 401 K Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Defined contribution plan, company contribution	$ 0.6	$ 0.6	$ 0.5

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Spectrum Inc.
Related Party Transaction [Line Items]
Spectrum Acquisition, tax preparation and other fees		$ 0.2
Principal Owner
Related Party Transaction [Line Items]
Accrued refunds current	$ 1.7
Spectrum Acquisition, tax preparation and other fees	$ 0.7
Principal Owner \| Minimum \| Spectrum Inc.
Related Party Transaction [Line Items]
Non controlling ownership interest minimum	5.00%
Principal Owner \| Maximum \| Spectrum Inc.
Related Party Transaction [Line Items]
Non controlling ownership interest minimum	5.00%
Director
Related Party Transaction [Line Items]
Accrued expenses related to director service			$ 0.2

Consolidated Statements of Oper

Consolidated Statements of Operations Information for Each of Previous Eight Quarters (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information [Line Items]
Revenue	$ 69,474	$ 69,445	$ 70,692	$ 60,634	$ 51,942	$ 49,529	$ 47,731	$ 44,830	$ 270,245	$ 194,032	$ 141,236
Gross profit	39,353	38,020	39,984	33,789	28,350	27,346	26,643	25,162
Operating expenses	63,580	61,481	59,638	49,463	44,089	41,643	43,458	38,854
Net income	$ 3,604	$ 1,659	$ 8,095	$ 8,053	$ 5,638	$ 4,794	$ 2,738	$ 3,448	$ 21,411	$ 16,617	$ 28,353
Earnings per share
Basic	$ 0.07	$ 0.03	$ 0.17	$ 0.18	$ 0.13	$ 0.11	$ 0.06	$ 0.08	$ 0.44	$ 0.38	$ 0.74
Diluted	$ 0.07	$ 0.03	$ 0.17	$ 0.17	$ 0.12	$ 0.10	$ 0.06	$ 0.08	$ 0.44	$ 0.37	$ 0.72