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Other Financial Statement Information
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Statement Information Other Financial Statement Information
Available-for-sale Securities
Available-for-sale securities consisted of the following (in thousands):
June 30, 2023December 31, 2022
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueFair Value Measurement
Cash equivalents:
Money market funds$315,407 $— $— $315,407 $163,184 $— $— $163,184 Level 1
Marketable securities:
Corporate debt securities20,209 — (234)19,975 153,794 4 (2,768)151,030 Level 2
Government debt securities42,611 — (623)41,988 54,136 — (1,247)52,889 Level 2
Asset-backed securities3,591 — (48)3,543 6,424 — (105)6,319 Level 2
Total available-for-sale securities$381,818 $— $(905)$380,913 $377,538 $4 $(4,120)$373,422 
The contractual maturities of marketable securities as of June 30, 2023 were as follows (in thousands):
Fair Value
Due in one year or less$59,716 
Due after one year to five years5,790 
Total marketable securities$65,506 
The Company incurred no material gross realized gains or losses from available-for-sales debt securities during the three months ended June 30, 2023 and three and six months ended June 30, 2022. During the six months ended June 30, 2023, the Company incurred gross realized losses of $1.7 million and no gross realized gains from the sale of available-for-sales debt
securities. Realized gains (losses) on the sale of marketable securities are recorded in “Other expense, net” in the condensed consolidated statements of operations.
The available-for-sale debt securities are subject to a periodic impairment review. For investments in an unrealized loss position, the Company determines whether a credit loss exists by considering information about the collectability of the instrument, current market conditions and reasonable and supportable forecasts of economic conditions. The Company recognizes an allowance for credit losses, up to the amount of the unrealized loss when appropriate, and writes down the amortized cost basis of the investment if it is more likely than not that the Company will be required or will intend to sell the investment before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in “Other expense, net,” and unrealized losses not related to credit losses are recognized in “Accumulated other comprehensive loss.” There are no allowances for credit losses for the periods presented. As of June 30, 2023, the gross unrealized losses on available-for-sale securities are related to market interest rate changes and not attributable to credit.
Inventory
Inventory was comprised of the following (in thousands):
June 30,
2023		December 31,
2022
Purchased materials$37,942 $34,497 
Work in progress24,098 24,650 
Finished goods21,647 22,482 
Inventory$83,687 $81,629 
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
June 30,
2023		December 31,
2022
Land$36,801 $36,780 
Building137,167 — 
Laboratory equipment and machinery 63,180 54,658 
Computer equipment and software15,862 12,565 
Furniture and fixtures10,847 9,642 
Leasehold improvements92,783 91,518 
Construction in progress13,801 152,995 
Total property and equipment370,441 358,158 
Less: accumulated depreciation and amortization (85,528)(68,830)
Property and equipment, net$284,913 $289,328 
Accrued Compensation and Related Benefits
Accrued compensation and related benefits were comprised of the following as of the dates indicated (in thousands):
June 30,
2023		December 31,
2022
Accrued payroll and related costs$2,965 $2,052 
Accrued bonus10,770 17,081 
Accrued commissions5,286 5,143 
Accrued acquisition-related compensation— 5,470 
Other3,351 2,929 
Accrued compensation and related benefits$22,372 $32,675 
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities were comprised of the following as of the dates indicated (in thousands):
June 30,
2023		December 31,
2022
Accrued legal and related costs$3,884 $3,102 
Accrued license fee— 6,231 
Accrued royalties for licensed technologies4,942 4,707 
Accrued property and equipment9,094 26,750 
Accrued professional services6,579 5,180 
Product warranties3,941 3,023 
Taxes payable2,323 4,079 
Other3,325 6,707 
Accrued expenses and other current liabilities$34,088 $59,779 
Product Warranties
Changes in the reserve for product warranties were as follows for the periods indicated (in thousands):
Six Months Ended
June 30,
20232022
Beginning of period$3,023 $994 
Amounts charged to cost of revenue3,833 1,983 
Repairs and replacements(2,915)(1,547)
End of period$3,941 $1,430 
Revenue and Deferred Revenue
As of June 30, 2023, the aggregate amount of remaining performance obligations related to separately sold extended warranty service agreements, or allocated amounts for extended warranty service agreements bundled with sales of instruments, was $13.9 million, of which approximately $9.2 million is expected to be recognized to revenue in the next 12 months, with the remainder thereafter. The contract liabilities of $13.9 million and $11.0 million as of June 30, 2023 and December 31, 2022, respectively, consisted of deferred revenue related to extended warranty service agreements.
The following revenue recognized for the periods were included in contract liabilities as of December 31, 2022 and December 31, 2021, respectively (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Deferred revenue recognized$1,856 $1,294 $3,963 $2,897 
The following table represents revenue by source for the periods indicated (in thousands). Spatial products include the Company's Visium and Xenium products:
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Instruments
Chromium$12,859 $14,047 $24,485 $28,373 
Spatial18,096 689 25,646 792 
Total instruments revenue30,955 14,736 50,131 29,165 
Consumables
Chromium100,794 91,048 201,890 182,327 
Spatial11,694 6,886 22,976 13,557 
Total consumables revenue112,488 97,934 224,866 195,884 
Services3,376 1,939 6,107 4,056 
Total revenue$146,819 $114,609 $281,104 $229,105 
The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Americas
United States$88,394 $69,373 $164,675 $126,814 
Americas (excluding United States)3,149 1,515 5,664 3,761 
Total Americas91,543 70,888 170,339 130,575 
Europe, Middle East and Africa31,246 25,608 59,668 46,140 
Asia-Pacific
China¹12,755 9,984 26,786 31,766 
Asia-Pacific (excluding China)11,275 8,129 24,311 20,624 
Total Asia-Pacific24,030 18,113 51,097 52,390 
Total Revenue$146,819 $114,609 $281,104 $229,105 
1 Includes Hong Kong effective from the first quarter of 2023. Comparative periods have been adjusted for this inclusion.