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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net loss $ (309,175) $ (1,929,939)
Adjustments to reconcile net loss to net cash used by operating activities:    
Amortization of intangibles assets 103,750 103,750
Depreciation 13,686 14,865
Stock-based compensation expense 44,518 72,502
Cash payment for equity awards 0 (53,807)
Deferred income taxes (108,811) (104,990)
Amortization of discount on marketable securities (16,606) 0
Goodwill and intangible assets impairment 28,000 1,420,936
Credit loss expense 518 0
Other 1,370 949
Changes in operating assets and liabilities:    
Accounts receivable, net [1] 3,512 1,731
Supplies [2] 452 482
Operating lease right-of-use assets and liabilities, net 761 1,545
Prepaid expenses and other assets [3] 3,346 (1,278)
Accounts payable [4] (1,437) (12,203)
Accrued and other liabilities [5] 894 1,791
Net cash used in operating activities (235,222) (483,666)
Cash flows from investing activities    
Purchases of property and equipment (815) (4,905)
Purchases of marketable securities (741,932) 0
Proceeds from maturities of marketable securities 894,400 0
Net cash provided by (used in) investing activities 151,653 (4,905)
Cash flows from financing activities    
Cash funding received from Illumina 0 1,244,300
Net cash provided by financing activities 0 1,244,300
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (148) 228
Net (decrease) increase in cash, cash equivalents, and restricted cash (83,717) 755,957
Cash, cash equivalents and restricted cash — beginning of period 217,583 101,512
Cash, cash equivalents and restricted cash — end of period 133,866 857,469
Represented by:    
Cash and cash equivalents 126,892 853,551
Restricted cash 6,974 3,918
Total 133,866 857,469
Supplemental cash flow information:    
Property and equipment included in accounts payable and accrued liabilities (70) (231)
Operating cash flows paid for operating leases, net $ (12,673) $ (14,773)
[1] Includes changes in related party accounts receivable of $31 and $32, respectively.
[2] Includes changes in related party supplies of $2,155 and $1,329, respectively.
[3] Includes changes in related party prepaid and other current assets of $15 and $(24), respectively.
[4] Includes changes in related party accounts payable of $54 and $(824), respectively.
[5] Includes changes in related party accrued liabilities of $(10) and $2,726, respectively.