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Balance Sheet Details (Tables) | 6 Months Ended
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Jun. 30, 2026
Balance Sheet Related Disclosures [Abstract] |
Schedule of Cash and Cash Equivalents | Cash, cash equivalents and restricted cash consisted of the following (in thousands):
|  | June 30, 2026 |  |  | December 31, 2025 |
Cash and cash equivalents |  | $ | 270,026 |  |  | $ | 120,863 |
Restricted cash |  |  | 2,091 |  |  |  | 2,433 |
Total cash, cash equivalents and restricted cash |  | $ | 272,117 |  |  | $ | 123,296 |
Schedule of Accounts Receivable, Net | Accounts receivable consisted of the following (in thousands):
|  | June 30, 2026 |  |  | December 31, 2025 |
Trade receivables |  | $ | 15,973 |  |  | $ | 13,715 |
Less: allowance for expected credit losses |  |  | (226 | ) |  |  | (284 | )
Accounts receivable, net |  | $ | 15,747 |  |  | $ | 13,431 |
Schedule of Inventories | Inventory consisted of the following (in thousands):
|  | June 30, 2026 |  |  | December 31, 2025 |
Raw materials |  | $ | 8,031 |  |  | $ | 8,631 |
Work-in-process |  |  | 322 |  |  |  | 253 |
Finished goods |  |  | 8,750 |  |  |  | 11,097 |
Total inventory |  | $ | 17,103 |  |  | $ | 19,981 |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands):
|  | June 30, 2026 |  |  | December 31, 2025 |
Laboratory and manufacturing equipment |  | $ | 34,230 |  |  | $ | 35,383 |
Leasehold improvements |  |  | 13,783 |  |  |  | 14,050 |
Computer equipment |  |  | 2,741 |  |  |  | 2,303 |
Internal-use software |  |  | 13,096 |  |  |  | 13,118 |
Office furniture and fixtures |  |  | 1,625 |  |  |  | 1,683 |
Property and equipment, gross |  |  | 65,475 |  |  |  | 66,537 |
Less: accumulated depreciation and amortization |  |  | (50,735 | ) |  |  | (48,162 | )
Construction-in-progress |  |  | 560 |  |  |  | 900 |
Property and equipment, net |  | $ | 15,300 |  |  | $ | 19,275 |
Accrued Liabilities | Accrued liabilities, which are included in current liabilities on the condensed consolidated balance sheets consisted of the following (in thousands):
|  | June 30, 2026 |  |  | December 31, 2025 |
Accrued legal fees |  | $ | 8,219 |  |  | $ | 3,513 |
Accrued litigation settlement indemnification (1) |  |  | 7,500 |  |  |  | — |
Accrued compensation and related benefits |  |  | 6,025 |  |  |  | 18,146 |
Uninvoiced receipts |  |  | 1,713 |  |  |  | 941 |
Accrued restructuring |  |  | 459 |  |  |  | 2,916 |
Accrued warranties |  |  | 497 |  |  |  | 683 |
Accrued taxes |  |  | 3,031 |  |  |  | 2,133 |
Other |  |  | 2,164 |  |  |  | 1,451 |
Accrued liabilities |  | $ | 29,608 |  |  | $ | 29,783 |
(1) Represents the Company’s indemnification obligation to Illumina related to the litigation described in Note 6, Commitments and Contingencies. The Company paid this amount in July 2026.

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