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Balance Sheet Components | 3 Months Ended
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Mar. 31, 2025
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | 5. BALANCE SHEET COMPONENTS Property and Equipment, Net The following summarizes property and equipment, net as of March 31, 2025 and December 31, 2024 (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
Equipment |  | $ | 128,902 |  |  | $ | 110,011 |
Leasehold improvements |  |  | 59,913 |  |  |  | 46,809 |
Furniture and fixtures |  |  | 6,917 |  |  |  | 6,633 |
Building |  |  | 1,234 |  |  |  | — |
Land |  |  | 9,850 |  |  |  | — |
Total property and equipment, gross |  |  | 206,816 |  |  |  | 163,453 |
Less: accumulated depreciation |  |  | (113,280 | ) |  |  | (105,397 | )
Property and equipment, net |  | $ | 93,536 |  |  | $ | 58,056 |
Depreciation expense on property and equipment is classified as follows in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Cost of revenue, genomics |  | $ | 3,641 |  |  | $ | 3,381 |
Cost of revenue, data and services |  |  | 172 |  |  |  | — |
Selling, general and administrative costs |  |  | 4,070 |  |  |  | 2,888 |
Total depreciation |  | $ | 7,883 |  |  | $ | 6,269 |
Accrued Expenses Accrued expenses as of March 31, 2025 and December 31, 2024, consist of the following (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
Accrued compensation and employee benefits |  | $ | 35,008 |  |  | $ | 24,767 |
Accrued expenses |  |  | 61,292 |  |  |  | 51,147 |
Accrued employer payroll tax related to stock-based compensation |  |  | 7,401 |  |  |  | 24,439 |
Accrued cloud storage costs |  |  | 17,203 |  |  |  | 21,394 |
Interest payable |  |  | 8,334 |  |  |  | 8,660 |
Total accrued expenses |  | $ | 129,238 |  |  | $ | 130,407 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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