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Supplemental Financial Information
 12 Months Ended
Dec. 31, 2025
Supplemental Balance Sheet Information [Abstract]  
Supplemental Financial Information Supplemental Financial Information
Cash, Cash Equivalents and Restricted Cash
The reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheet to the totals shown within the consolidated statements of cash flows is as follows (in thousands):
As of December 31,
202520242023
Cash and cash equivalents$167,202 $561,572 $944,073 
Restricted cash included in prepaid expenses and other current assets (1)
7,031 5,839 4,789 
Restricted cash included in other non-current assets (1)
38,138 38,332 40,722 
Total cash, cash equivalents and restricted cash$212,371 $605,743 $989,584 
(1)Includes cash balances collateralizing letters of credit associated with the Company’s facility leases and customer prepayments requiring segregation and restrictions in its use in accordance with the customer agreement.
Property, Plant and Equipment, net
Property, plant and equipment, net consisted of the following (in thousands):
As of December 31,
20252024
Lab equipment$146,279 $150,887 
Leasehold improvements140,513 135,964 
Buildings and facilities49,760 48,255 
Construction in progress192 1,984 
Computer equipment and software9,056 14,897 
Furniture and fixtures6,520 6,545 
Land6,060 6,060 
Total property, plant, and equipment358,380 364,592 
Less: Accumulated depreciation(190,597)(160,872)
Property, plant and equipment, net$167,783 $203,720 
Depreciation expense for the years ended December 31, 2025, 2024 and 2023 totaled $40.3 million, $45.0 million and $54.8 million, respectively.
During the year ended December 31, 2024, the Company determined that $5.8 million of construction in progress assets were impaired and this loss is included in general and administrative expense in the consolidated statements of operations and comprehensive loss.
During the year ended December 31, 2023, the Company identified excess lab equipment at two of its facilities whereby the assets were sold, classified as held for sale or otherwise impaired, resulting in aggregate impairment losses of $25.2 million, included in general and administrative expense in the consolidated statements of operations and comprehensive loss.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
As of December 31,
20252024
Operating lease liabilities$22,787 $28,630 
Contractual shortfall liabilities (Note 12)15,919 — 
Contingent consideration liability5,438 5,438 
Biosecurity costs5,046 4,032 
Employee compensation and benefits4,258 9,894 
Professional fees and securities litigation costs4,378 2,167 
External research and development expenses1,072 713 
Deferred other income1,033 2,889 
Employee termination costs816 2,387 
Finance lease liabilities20 335 
Property and equipment— 138 
Other current liabilities5,691 8,764 
Accrued expenses and other current liabilities$66,458 $65,387 
Supplemental cash flow information
The following table presents supplemental cash flow information for each reporting period (in thousands):
Year Ended December 31,
202520242023
Cash paid for interest$4 $32 $83 
Cash paid for income taxes192 894 670 
Non-cash investing and financing activities:
ROU assets obtained in exchange for new operating lease liabilities336 223,853 27,668 
Purchases of property and equipment included in accounts payable and accrued expenses46 2,565 2,915 
Convertible financial instruments received for Cell Engineering services— — 4,542 
Equity securities and warrants received for Cell Engineering services— 55 17,450 
Common stock issued for acquisitions777 18,245 6,820 
Common stock issued as settlement of contingent consideration liabilities— 14,742 8,896 
Common stock issued for retention payments related to business and asset acquisitions— 5,258 — 
Return of investment in equity securities for reduction in deferred revenue— 6,760 — 
Conversion of notes receivable for common stock— 10,476 — 
Issuance costs related to ATM offering included in accounts payable and accrued expenses53 — —