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Other Financial Statement Information (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of marketable securities

Available-for-sale securities consisted of the following (in thousands):

			September 30, 2025																											December 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value									Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Fair Value Measurement
Cash equivalents:
Money market funds			$	399,256					$	—					$	—					$	399,256								$	322,012					$	—					$	—					$	322,012					Level 1
Marketable securities:
Government debt securities			49,576						3						(3)						49,576									49,317						18						—						49,335						Level 2
Total available-for-sale securities			$	448,832					$	3					$	(3)					$	448,832								$	371,329					$	18					$	—					$	371,347

Schedule of inventory

Inventory was comprised of the following (in thousands):

			September 30, 2025						December 31, 2024
Purchased materials			$	18,934					$	38,930
Work in progress			23,990						27,441
Finished goods			19,032						16,736
Inventory			$	61,956					$	83,107

Schedule of property and equipment, net

Property and equipment, net consisted of the following (in thousands):

			September 30, 2025						December 31, 2024
Land			$	36,765					$	36,765
Building			147,493						147,094
Laboratory equipment and machinery			77,145						72,498
Computer equipment and software			15,195						14,953
Furniture and fixtures			9,848						9,586
Leasehold improvements			89,370						89,567
Construction in progress			2,527						5,152
Total property and equipment			378,343						375,615
Less: accumulated depreciation and amortization			(145,809)						(122,967)
Property and equipment, net			$	232,534					$	252,648

Schedule of intangible assets

			September 30, 2025																								December 31, 2024
			Remaining Useful Life in Years						Gross Carrying Amount						Accumulated Amortization						Intangibles, Net						Gross Carrying Amount						Accumulated Amortization						Intangibles, Net
Technology licenses			9.0						$	22,504					$	(9,124)					$	13,380					$	22,504					$	(8,016)					$	14,488
Developed technology			6.3						52,639						(1,326)						51,313						1,000						(92)						908
Customer relationships			0.2						945						(940)						5						945						(918)						27
Assembled workforce			0.7						1,328						(1,267)						61						1,328						(1,080)						248
Intangible assets, net									$	77,416					$	(12,657)					$	64,759					$	25,777					$	(10,106)					$	15,671

Schedule of accrued compensation and related benefits

Accrued compensation and related benefits were comprised of the following (in thousands):

			September 30, 2025						December 31, 2024
Accrued payroll and related costs			$	6,420					$	2,970
Accrued bonus			22,495						21,859
Accrued commissions			3,779						5,938
Other			4,390						2,848
Accrued compensation and related benefits			$	37,084					$	33,615

Schedule of accrued expense and other current liabilities

Accrued expenses and other current liabilities were comprised of the following (in thousands):

			September 30, 2025						December 31, 2024
Legal and related costs			$	3,811					$	6,100
Royalties for licensed technologies			4,527						7,042
Professional services			2,765						5,315
Product warranties			6,685						8,615
Taxes payable			5,587						4,936
Other			12,391						9,157
Accrued expenses and other current liabilities			$	35,766					$	41,165

Schedule of changes in the reserve for product warranties

Changes in the reserve for product warranties were as follows (in thousands):

			Nine Months Ended September 30,
			2025						2024
Beginning of period			$	8,615					$	8,116
Amounts charged to cost of revenue			6,605						4,033
Repairs and replacements			(8,535)						(3,704)
End of period			$	6,685					$	8,445

Schedule of revenue of recognized in deferred revenue

The following revenue recognized for the periods indicated were included in deferred revenue as of December 31, 2024 and 2023, respectively (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Deferred revenue recognized			$	4,134					$	2,713					$	15,038					$	9,454

Schedule of revenue by source

The following table represents revenue by source for the periods indicated (in thousands). Chromium products include the Company’s single cell products and spatial products include the Company’s Visium and Xenium products:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Instruments
Chromium			$	4,927					$	7,641					$	16,567					$	24,283
Spatial			7,072						11,415						24,744						44,078
Total instruments revenue			11,999						19,056						41,311						68,361
Consumables
Chromium			92,519						96,536						262,416						274,571
Spatial			35,373						29,668						103,017						85,330
Total consumables revenue			127,892						126,204						365,433						359,901
Services			8,128						6,299						24,255						17,292
Products and services revenue			148,019						151,559						430,999						445,554
License and royalty revenue			983						95						45,794						210
Total revenue			$	149,002					$	151,654					$	476,793					$	445,764

Schedule of revenue by geographic location

The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2025						2024						2025						2024
Americas
United States(1)						$	77,246					$	84,723					$	267,555					$	250,032
Americas (excluding United States)						2,625						3,099						9,044						10,511
Total Americas						79,871						87,822						276,599						260,543
Europe, Middle East and Africa						41,624						37,851						108,253						109,934
Asia-Pacific
China						15,189						15,030						55,242						42,692
Asia-Pacific (excluding China)						12,318						10,951						36,699						32,595
Total Asia-Pacific						27,507						25,981						91,941						75,287
Total revenue						$	149,002					$	151,654					$	476,793					$	445,764

(1) Includes license and royalty revenue.

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