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Balance Sheet Components | 6 Months Ended
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Jun. 30, 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 June 30, 2025 and December 31, 2024 (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Equipment |  | $ | 135,572 |  |  | $ | 110,011 |
Leasehold improvements |  |  | 60,598 |  |  |  | 46,809 |
Furniture and fixtures |  |  | 6,936 |  |  |  | 6,633 |
Building |  |  | 1,234 |  |  |  | — |
Land |  |  | 9,850 |  |  |  | — |
Total property and equipment, gross |  |  | 214,190 |  |  |  | 163,453 |
Less: accumulated depreciation |  |  | (121,627 | ) |  |  | (105,397 | )
Property and equipment, net |  | $ | 92,563 |  |  | $ | 58,056 |
Depreciation expense on property and equipment is classified as follows in the accompanying condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024 (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cost of revenue, genomics |  | $ | 3,994 |  |  | $ | 3,293 |  |  | $ | 7,635 |  |  | $ | 6,674 |
Cost of revenue, data and services |  |  | 111 |  |  |  | — |  |  |  | 283 |  |  |  | — |
Selling, general and administrative costs |  |  | 4,242 |  |  |  | 3,122 |  |  |  | 8,312 |  |  |  | 6,010 |
Total depreciation |  | $ | 8,347 |  |  | $ | 6,415 |  |  | $ | 16,230 |  |  | $ | 12,684 |
Accrued Expenses Accrued expenses as of June 30, 2025 and December 31, 2024, consist of the following (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Accrued compensation and employee benefits |  | $ | 37,792 |  |  | $ | 24,767 |
Accrued expenses |  |  | 84,543 |  |  |  | 51,147 |
Accrued employer payroll tax related to stock-based compensation |  |  | 5,823 |  |  |  | 24,439 |
Accrued cloud storage costs |  |  | 29,263 |  |  |  | 21,394 |
Interest payable |  |  | 8,482 |  |  |  | 8,660 |
Total accrued expenses |  | $ | 165,903 |  |  | $ | 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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