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Organization and significant accounting policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Revenues By Product Line | Total bioproduction tools and services revenue for the years ended December 31, 2023, 2022, and 2021 were comprised of the following:
| Years Ended December 31,
(In thousands, except percentages) | 2023 |  | 2022 |  | 2021(1)
Product revenue |  |  |  |  |
Freezer and thaw | $ | 50,622 |  |  | $ | 66,682 |  |  | $ | 56,620 |
Cell processing | 65,772 |  |  | 68,509 |  |  | 44,965 |
Biostorage services | 1,301 |  |  | 809 |  |  | 328 |
Service revenue |  |  |  |  |
Freezer and thaw | 1,024 |  |  | 74 |  |  | - |
Biostorage services | 16,527 |  |  | 15,234 |  |  | 9,817 |
Rental revenue |  |  |  |  |
Biostorage services | 8,025 |  |  | 10,451 |  |  | 7,426 |
Total revenue | $ | 143,271 |  |  | $ | 161,759 |  |  | $ | 119,156 |
(1)2021 revenue includes product revenue related to Global Cooling from May 3, 2021 through December 31, 2021 and product revenue related to Sexton from September 1, 2021 through December 31, 2021.
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts:
(In thousands) | 2024 |  | Total
Rental revenue | $ | 900 |  |  | $ | 900 |
Service revenue | $ | 50 |  |  | $ | 50 |
Schedule of Earnings Per Share, Basic and Diluted | The following table presents computations of basic and diluted earnings per share:
| Year Ended December 31,
(In thousands, except share and earnings per share data) | 2023 |  | 2022 |  | 2021
Basic and diluted loss per common share |  |  |  |  |
Numerator: |  |  |  |  |
Net loss | $ | (66,427) |  |  | $ | (139,805) |  |  | $ | (8,908) |
Net loss attributable to common shareholders | (66,427) |  |  | (139,805) |  |  | (8,908) |
Denominator: |  |  |  |  |
Weighted-average common shares issued and outstanding | 43,719,185 |  | 42,481,027 |  | 38,503,944
Basic and diluted loss per common share | $ | (1.52) |  |  | $ | (3.29) |  |  | $ | (0.23) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Stock options and restricted stock awards | 647,348 |  | 592,446 |  | 1,637,745
Warrants | — |  | — |  | 18,204
Total | 647,348 |  | 592,446 |  | 1,655,949
Schedule of Cash and Cash Equivalents | The following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in the Company’s Consolidated Statements of Cash Flows for the years ended December 31, 2023 and 2022.
(In thousands) | 2023 |  | 2022
Cash and cash equivalents | $ | 35,407 |  |  | $ | 19,442 |
Restricted cash | 31 |  |  | 31 |
Total cash, cash equivalents, and restricted cash | $ | 35,438 |  |  | $ | 19,473 |
Schedule of Revenue from External Customers by Products and Services | Revenue from foreign customers is denominated in United States dollars or euros.
| Years Ended December 31,
Revenue by major product | 2023 |  | 2022 |  | 2021
CryoStor | 39 | % |  | 36 | % |  | 33 | %
780XLE Freezer | 19 | % |  | 22 | % |  | 22 | %
The following table represents the Company’s total revenue by geographic area (based on the location of the customer):
| Years Ended December 31,
Revenue by customers’ geographic locations(1) | 2023 |  | 2022 |  | 2021
United States(2) | 80 | % |  | 79 | % |  | 85 | %
Europe, Middle East, Africa (EMEA) | 16 | % |  | 16 | % |  | 11 | %
Other | 4 | % |  | 5 | % |  | 4 | %
Total revenue | 100 | % |  | 100 | % |  | 100 | %
(1) During the year ended December 31, 2023, the Company updated its methodology for determining the country of origin for its sales. Sales are now recorded by shipping country rather than billing country. The Company updated the methodology retrospectively, adjusting the prior year presentation for all regions presented. (2) The line item presented above previously bifurcated sales between the United States and Canada. Due to the updated methodology for determining the country of origin for sales, it was noted that Canada no longer was a material location to separately disclose. Canada sales have been included within the "Other" line item in the table above and United States sales has been retained as its own line item to more accurately reflect origin of sales for material regions. The following table represents the Company’s long-lived assets by geographic area as of December 31:
(In thousands) | 2023 |  | 2022
United States | $ | 33,378 |  |  | $ | 42,829 |
Netherlands | 6,952 |  |  | 5,437 |
Total | $ | 40,330 |  |  | $ | 48,266 |

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