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Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:      
Total revenue $ 128,304,000 $ 130,513,000 $ 78,893,000
Cost of Revenue:      
Amortization of intangible assets 733,000 306,000  
Loss on purchase commitment 3,705,000    
Total cost of revenue 79,269,000 71,653,000 46,327,000
Gross profit 49,035,000 58,860,000 32,566,000
Operating Expense:      
Research and development 193,000,000 112,899,000 64,152,000
Sales, general and administrative 160,854,000 124,124,000 72,799,000
Merger-related expenses   31,129,000  
Change in fair value of contingent consideration 2,377,000 1,143,000  
Total operating expense 356,231,000 269,295,000 136,951,000
Operating loss (307,196,000) (210,435,000) (104,385,000)
Gain from Reverse Termination Fee from Illumina     98,000,000
(Loss)/Gain from Continuation Advances from Illumina   (52,000,000) 34,000,000
Interest expense (14,690,000) (12,530,000) (267,000)
Other income, net 7,638,000 93,000 2,055,000
(Loss) income before benefit from income taxes (314,248,000) (274,872,000) 29,403,000
Benefit from income taxes   (93,649,000)  
Net (loss) income (314,248,000) (181,223,000) 29,403,000
Other comprehensive (loss) income:      
Unrealized (loss) gain on investments (3,678,000) (1,172,000) 80,000
Comprehensive (loss) income: $ (317,926,000) $ (182,395,000) $ 29,483,000
Net (loss) income per share:      
Basic $ (1.40) $ (0.89) $ 0.18
Diluted $ (1.40) $ (0.89) $ 0.17
Weighted average shares outstanding used in calculating net (loss) income per share:      
Basic 224,550 204,136 165,187
Diluted 224,550 204,136 174,970
Product [Member]      
Revenue:      
Total revenue $ 108,699,000 $ 113,505,000 $ 65,424,000
Cost of Revenue:      
Cost of product revenue 60,932,000 56,358,000 35,424,000
Service and Other [Member]      
Revenue:      
Total revenue 19,605,000 17,008,000 13,469,000
Cost of Revenue:      
Cost of service and other revenue $ 13,899,000 $ 14,989,000 $ 10,903,000