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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies

Schedule of assets recorded at fair value

The Company measures the fair value of financial assets using the highest level of inputs that are reasonably available as of the measurement date. The assets recorded at fair value are classified within the hierarchy as follows for the periods reported (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2021

​

Total

​

​

​

​

​

​

​

​

​

Fair Value

​

Level 1

​

Level 2

​

Level 3

​

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds in Cash and Cash Equivalents

​

$

123,892

​

$

123,892

​

$

—

​

$

—

Corporate Securities

​

​

144,418

​

​

—

​

​

144,418

​

​

—

Government Securities

​

​

309,814

​

​

—

​

​

309,814

​

​

—

​

​

$

578,124

​

$

123,892

​

$

454,232

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2020

​

Total

​

​

​

​

​

​

​

​

​

Fair Value

​

Level 1

​

Level 2

​

Level 3

​

​

​

​

​

​

​

​

​

​

​

​

​

Money Market Funds in Cash and Cash Equivalents

​

$

158,937

​

$

158,937

​

$

—

​

$

—

Corporate Securities

​

​

119,833

​

​

—

​

​

119,833

​

​

—

Government Securities

​

​

315,353

​

​

—

​

​

315,353

​

​

—

​

​

$

594,123

​

$

158,937

​

$

435,186

​

$

—

Schedule of useful lives by asset category

​

​	​	​	​
​			​
Computers, software and equipment		3 - 5 years	​
Furniture and fixtures		5 - 7 years	​
Leasehold improvements		5 - 7 years or remaining	​
​	​	lease term, whichever is less	​

Schedule of finite-lived intangible assets

​

​	​	​	​	​	​	​	​
​	​	December 31,
​	​	2021		​	2020
Patents, definite life		$	13,231		$	12,038	​
Patents, pending issuance	​	​	8,821	​		8,432	​
Licenses and other amortizable intangible assets	​	​	2,474	​		2,560	​
Nonamortizable intangible assets (trademarks)	​	​	399	​		399	​
Total gross carrying amount	​	​	24,925	​		23,429	​
Accumulated amortization—patents	​	​	(6,800)	​		(5,791)	​
Accumulated amortization—licenses and other	​	​	(1,632)	​		(1,661)	​
Total intangible assets, net	​	$	16,493	​	$	15,977	​

Schedule of indefinite-lived intangible assets

The carrying amount and accumulated amortization of patents, licenses, and other intangibles is as follows (in thousands):

​

​	​	​	​	​	​	​	​
​	​	December 31,
​	​	2021		​	2020
Patents, definite life		$	13,231		$	12,038	​
Patents, pending issuance	​	​	8,821	​		8,432	​
Licenses and other amortizable intangible assets	​	​	2,474	​		2,560	​
Nonamortizable intangible assets (trademarks)	​	​	399	​		399	​
Total gross carrying amount	​	​	24,925	​		23,429	​
Accumulated amortization—patents	​	​	(6,800)	​		(5,791)	​
Accumulated amortization—licenses and other	​	​	(1,632)	​		(1,661)	​
Total intangible assets, net	​	$	16,493	​	$	15,977	​

Future amortization expense for patents, licenses, and other intangible assets

​

​	​	​	​	​
​		Year ended
​	​	December 31,
​	​	(in thousands)
2022	​	$	1,073	​
2023	​	​	957	​
2024	​	​	770	​
2025	​	​	680	​
2026	​	​	586	​
Thereafter	​	​	3,207	​
Total	​	$	7,273	​

Schedule of basic and diluted net income (loss) per common share

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2021		​	2020		​	2019
​	​	(in thousands, except share and per share data)
Basic		​			​			​		​
Numerator:	​	​	​	​	​	​	​	​	​	​
Net income (loss) attributable to common stockholders for basic net income (loss) per share	​	$	82,631	​	$	(69,333)	​	$	26,875	​
Denominator:	​	​	​	​	​	​	​	​	​	​
Weighted-average common shares outstanding	​	​	58,379,641	​		57,212,737	​		56,531,439	​
Basic net income (loss) per common share	​	$	1.42	​	$	(1.21)	​	$	0.48	​
​	​	​	​	​	​	​	​	​	​	​
Diluted	​	​	​	​	​	​	​	​	​	​
Numerator:	​	​	​	​	​	​	​	​	​	​
Net income (loss) attributable to common stockholders for diluted net income (loss) per share	​	$	82,631	​	$	(69,333)	​	$	26,875	​
Denominator:	​	​	​	​	​	​	​	​	​	​
Weighted average number of common shares outstanding used in computing basic net income (loss) per common share	​	​	58,379,641	​		57,212,737	​		56,531,439	​
Dilutive effect of employee stock options, RSUs, and ESPP	​	​	2,115,814	​		—	​		1,936,441	​
Weighted-average number of common shares outstanding used in computing diluted net income (loss) per common share	​	​	60,495,455	​		57,212,737	​		58,467,880	​
Diluted net income (loss) per common share	​	$	1.37	​	$	(1.21)	​	$	0.46	​

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