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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 39,967,000 $ 55,691,000 $ 114,790,000 $ 142,164,000
Cost of Revenue:        
Amortization of acquired intangible assets 3,201,000 184,000 7,172,000 550,000
Loss on purchase commitment 0 0 998,000 0
Total cost of revenue 29,963,000 37,789,000 87,566,000 98,955,000
Gross profit 10,004,000 17,902,000 27,224,000 43,209,000
Operating Expense:        
Research and development 25,516,000 47,514,000 107,456,000 142,626,000
Sales, general and administrative 43,746,000 43,431,000 133,376,000 123,822,000
Goodwill impairment 0 0 93,200,000 0
Merger-related expenses 0 8,979,000 0 8,979,000
Amortization of acquired intangible assets 3,649,000 741,000 13,377,000 741,000
Change in fair value of contingent consideration 1,170,000 (271,000) 1,100,000 13,960,000
Total operating expense 74,081,000 100,394,000 348,509,000 290,128,000
Operating loss (64,077,000) (82,492,000) (321,285,000) (246,919,000)
Loss on extinguishment of debt 0 0 0 (2,033,000)
Interest expense (3,538,000) (3,588,000) (10,655,000) (10,772,000)
Other income, net 6,890,000 8,505,000 19,718,000 24,301,000
Loss before benefit from income taxes (60,725,000) (77,575,000) (312,222,000) (235,423,000)
Benefit from income taxes 0 (10,706,000) 0 (10,706,000)
Net loss (60,725,000) (66,869,000) (312,222,000) (224,717,000)
Other comprehensive income:        
Unrealized gain on investments 2,076,000 846,000 1,334,000 2,925,000
Comprehensive loss $ (58,649,000) $ (66,023,000) $ (310,888,000) $ (221,792,000)
Net loss per share:        
Basic (in dollars per share) $ (0.22) $ (0.26) $ (1.15) $ (0.90)
Diluted (in dollars per share) $ (0.22) $ (0.26) $ (1.15) $ (0.90)
Weighted average shares outstanding used in calculating net loss per share:        
Basic (in shares) 272,915 255,001 271,631 249,082
Diluted (in shares) 272,915 255,001 271,631 249,082
Product revenue        
Revenue:        
Total revenue $ 35,296,000 $ 51,562,000 $ 102,051,000 $ 129,871,000
Cost of Revenue:        
Cost of revenue 23,278,000 33,551,000 68,808,000 87,147,000
Service and other revenue        
Revenue:        
Total revenue 4,671,000 4,129,000 12,739,000 12,293,000
Cost of Revenue:        
Cost of revenue $ 3,484,000 $ 4,054,000 $ 10,588,000 $ 11,258,000