0001558370-22-012637 | 10-Q | XBRL Viewer

Significant accounting policies	6 Months Ended
Jun. 30, 2022
Significant accounting policies
Significant accounting policies	2. Significant accounting policies The significant accounting policies and estimates used in the preparation of the accompanying consolidated financial statements are described in the Company’s audited consolidated financial statements for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2022. There have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2022. For a discussion of recently issued accounting standards updates, refer to Note 2 in the Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2022.

Significant accounting policies

6 Months Ended

Jun. 30, 2022

2. Significant accounting policies

The significant accounting policies and estimates used in the preparation of the accompanying consolidated financial statements are described in the Company’s audited consolidated financial statements for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2022. There have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2022. For a discussion of recently issued accounting standards updates, refer to Note 2 in the Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2022.

Leases

6 Months Ended

Jun. 30, 2022

Leases

Leases

10. Leases

The Company is a lessee under leases of offices, lab spaces, and certain office equipment. Some of the Company’s leases include options to extend the lease, and these options are included in the lease term to the extent they are reasonably certain to be exercised.

On January 28, 2022, the Company executed a lease for 85,800 square feet of office and laboratory space in Bedford, Massachusetts. The lease commencement date was February 1, 2022, when the Company gained access to the underlying facilities. The Company has negotiated a tenant improvement allowance with the landlord which will offset a portion of the Company’s construction costs. The Company has assessed whether improvements made to the premises are landlord-owned or company-owned, with payments made by the Company for landlord-owned assets accounted for as lease incentives. The initial term of the lease’s payment schedule is eight years and nine months beginning on May 1, 2022. The Company has the option to extend the lease for two additional five-year periods.

The components of lease expense was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
Operating leases	2022		2021		2022		2021
Lease costs (1)
Operating lease costs	$	1,569	$	663	$	2,232	$	1,334
Total lease cost	$	1,569	$	663	$	2,232	$	1,334

(1) Short-term lease costs and variable lease costs incurred by the Company for the three and six months ended June 30, 2022 were not material.

Supplemental balance sheet and cash flow information was as follows (amounts in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Supplemental balance sheet information:
Weighted average remaining lease term		8.5	years		9.6	years		8.5	years		9.6	years
Weighted average discount rate		7.2%			9.7%			7.2%			9.7%


Supplemental cash flow information:
Operating cash flows used for operating leases	$	532		$	837		$	1,394		$	1,683

Future minimum commitments under the Company’s operating leases in effect as of June 30, 2022 were as follows (in thousands):


Twelve months ending June 30,
2023	$	5,918
2024		6,860
2025		7,046
2026		7,271
2027		7,502
Thereafter		27,520
Total lease payments		62,117
Less: imputed interest		16,286
Total operating lease liabilities	$	45,831

Leases (Details) - Office and Laboratory Space in Bedford, Massachusetts	Feb. 01, 2022 item	Jan. 28, 2022 USD ($)
Leases
Square footage of office and laboratory space \| $		85,800
Term of operating lease	8 years 9 months
Lease agreement number of options to extend \| item	2
Lease agreement lease extension term	5 years

Net loss per share (Tables)

6 Months Ended

Jun. 30, 2022

Net loss per share

Schedule of common share equivalents have been excluded from the calculation of diluted net loss per share


	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Stock options	2,578,139	2,277,005	2,382,744	2,277,005
Unvested restricted stock and stock units	928,192	572,132	759,143	572,132

Stock-based compensation (Tables)

6 Months Ended

Jun. 30, 2022

Stock-based compensation

Summary of share-based compensation expense for all stock awards

Stock-based compensation expense for all stock awards consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of product revenue	$	137	$	96	$	225	$	186
Cost of service and other revenue		205		122		371		232
Research and development		482		409		880		808
Selling, general, and administrative		4,362		3,023		7,537		5,810
Total	$	5,186	$	3,650	$	9,013	$	7,036

Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Allowance for Credit Losses
Beginning Balance	$ 419
Credit loss expense	581	$ 20
Ending Balance	$ 1,000

Organization and operations	6 Months Ended
Jun. 30, 2022
Organization and operations
Organization and operations	1. Organization and operations Quanterix Corporation (Nasdaq: QTRX) (the Company) is a life sciences company that has developed next generation, ultra-sensitive digital immunoassay platforms that advance precision health for life sciences research and diagnostics. The Company's platforms are based on its proprietary digital “Simoa” detection technology. The Company's Simoa bead-based and planar array platforms enable customers to reliably detect protein biomarkers in extremely low concentrations in blood, serum and other fluids that, in many cases, are undetectable using conventional, analog immunoassay technologies, and also allow researchers to define and validate the function of novel protein biomarkers that are only present in very low concentrations. These capabilities provide the Company's customers with insight into the role of protein biomarkers in human health that has not been possible with other existing technologies and enable researchers to unlock unique insights into the continuum between health and disease. The Company is currently focusing on protein detection, which it believes is an area of significant unmet need and where it has significant competitive advantages. However, in addition to enabling new applications and insights in protein analysis, the Company’s Simoa platforms have also demonstrated applicability across other testing applications, including detection of nucleic acids and small molecules. The Company launched its first immunoassay platform, the Simoa HD-1 (HD-1), in 2014. The HD-1 is a fully automated immunoassay bead-based platform with multiplexing and custom assay capability, and related assay test kits and consumable materials. In the fourth quarter of 2017, the Company launched a second bead-based immunoassay platform (SR-X) with a more compact footprint than the HD-1 and less automation designed for lower volume requirements while still allowing multiplexing and custom assay capability. The Company initiated an early-access program for its third instrument (SP-X) on the new Simoa planar array platform in January 2019, with the full commercial launch commencing in April 2019. In July 2019, the Company launched the Simoa HD-X, an upgraded version of the HD-1 and phased out the HD-1. The HD-X has been designed to deliver significant productivity and operational efficiency improvements, as well as greater user flexibility. The Company began shipping and installing HD-X instruments at customer locations in the third quarter of 2019. The Company also performs research services on behalf of customers to apply the Simoa technology to specific customer needs. The Company's customers are primarily in the research use only market, which includes academic and governmental research institutions, the research and development laboratories of pharmaceutical manufacturers, contract research organizations, and specialty research laboratories. Basis of presentation The interim condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, comprehensive loss and cash flows for each period presented and have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 1, 2022. Reclassifications Certain amounts in the prior years’ consolidated financial statements have been reclassified to conform to the current year’s presentation.

Organization and operations

6 Months Ended

Jun. 30, 2022

Organization and operations

Organization and operations

1. Organization and operations

Quanterix Corporation (Nasdaq: QTRX) (the Company) is a life sciences company that has developed next generation, ultra-sensitive digital immunoassay platforms that advance precision health for life sciences research and diagnostics. The Company's platforms are based on its proprietary digital “Simoa” detection technology. The Company's Simoa bead-based and planar array platforms enable customers to reliably detect protein biomarkers in extremely low concentrations in blood, serum and other fluids that, in many cases, are undetectable using conventional, analog immunoassay technologies, and also allow researchers to define and validate the function of novel protein biomarkers that are only present in very low concentrations. These capabilities provide the Company's customers with insight into the role of protein biomarkers in human health that has not been possible with other existing technologies and enable researchers to unlock unique insights into the continuum between health and disease. The Company is currently focusing on protein detection, which it believes is an area of significant unmet need and where it has significant competitive advantages. However, in addition to enabling new applications and insights in protein analysis, the Company’s Simoa platforms have also demonstrated applicability across other testing applications, including detection of nucleic acids and small molecules.

The Company launched its first immunoassay platform, the Simoa HD-1 (HD-1), in 2014. The HD-1 is a fully automated immunoassay bead-based platform with multiplexing and custom assay capability, and related assay test kits and consumable materials. In the fourth quarter of 2017, the Company launched a second bead-based immunoassay platform (SR-X) with a more compact footprint than the HD-1 and less automation designed for lower volume requirements while still allowing multiplexing and custom assay capability. The Company initiated an early-access program for its third instrument (SP-X) on the new Simoa planar array platform in January 2019, with the full commercial launch commencing in April 2019. In July 2019, the Company launched the Simoa HD-X, an upgraded version of the HD-1 and phased out the HD-1. The HD-X has been designed to deliver significant productivity and operational efficiency improvements, as well as greater user flexibility. The Company began shipping and installing HD-X instruments at customer locations in the third quarter of 2019. The Company also performs research services on behalf of customers to apply the Simoa technology to specific customer needs. The Company's customers are primarily in the research use only market, which includes academic and governmental research institutions, the research and development laboratories of pharmaceutical manufacturers, contract research organizations, and specialty research laboratories.

Basis of presentation

The interim condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, comprehensive loss and cash flows for each period presented and have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 1, 2022.

Reclassifications

Certain amounts in the prior years’ consolidated financial statements have been reclassified to conform to the current year’s presentation.

Fair value of financial instruments (Tables)

6 Months Ended

Jun. 30, 2022

Fair value of financial instruments

Schedule of fair value measurements

Fair value measurements are as follows (in thousands):


June 30, 2022	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets
Cash equivalents - money market funds	$	332,405	$	332,405	$	—	$	—


December 31, 2021	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets
Cash equivalents - money market funds	$	332,093	$	332,093	$	—	$	—

Leases (Tables)

6 Months Ended

Jun. 30, 2022

Leases

Summary of the lease costs recognized under ASC 842

The components of lease expense was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
Operating leases	2022		2021		2022		2021
Lease costs (1)
Operating lease costs	$	1,569	$	663	$	2,232	$	1,334
Total lease cost	$	1,569	$	663	$	2,232	$	1,334

(1) Short-term lease costs and variable lease costs incurred by the Company for the three and six months ended June 30, 2022 were not material.

Supplemental balance sheet and cash flow information was as follows (amounts in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Supplemental balance sheet information:
Weighted average remaining lease term		8.5	years		9.6	years		8.5	years		9.6	years
Weighted average discount rate		7.2%			9.7%			7.2%			9.7%


Supplemental cash flow information:
Operating cash flows used for operating leases	$	532		$	837		$	1,394		$	1,683

Schedule of future minimum commitments under ASC 842

Future minimum commitments under the Company’s operating leases in effect as of June 30, 2022 were as follows (in thousands):


Twelve months ending June 30,
2023	$	5,918
2024		6,860
2025		7,046
2026		7,271
2027		7,502
Thereafter		27,520
Total lease payments		62,117
Less: imputed interest		16,286
Total operating lease liabilities	$	45,831

Revenue recognition - Future performance obligations (Details) $ in Millions	Jun. 30, 2022 USD ($)
Service-type warranties and research services
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 0.0
Undelivered licenses of intellectual property
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	0.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 12.2
Performance obligation satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Transaction Price Allocated to Future Performance Obligations
Amount of transaction price allocated to performance obligations	$ 0.0
Performance obligation satisfaction period	24 months

Revenue recognition - Practical expedients (Details)	6 Months Ended
Revenue recognition - Practical expedients (Details)	Jun. 30, 2022
Revenue recognition
Revenue, Practical Expedient, Financing Component [true false]	true
Revenue, Remaining Performance Obligation, Optional Exemption, Performance Obligation [true false]	true

Inventory (Tables)

6 Months Ended

Jun. 30, 2022

Inventory

Summary of inventory

Inventory consists of the following (in thousands):


	June 30, 2022			December 31, 2021
Raw materials	$	8,710	$	7,892
Work in process		3,395		4,923
Finished goods		9,880		9,375
Total net inventory	$	21,985	$	22,190

Revenue recognition (Tables)

6 Months Ended

Jun. 30, 2022

Revenue recognition

Schedule of disaggregated revenue


	Three Months Ended June 30, 2022								Six Months Ended June 30, 2022
	NA		EMEA		Asia Pacific		Total		NA		EMEA		Asia Pacific		Total
Product revenues
Instruments	$	2,473		2,127		1,004	$	5,604	$	4,638	$	4,173	$	3,015	$	11,826
Consumable and other products		4,719		3,588		874		9,181		13,552		8,014		2,049		23,615
Total	$	7,192		5,715		1,878	$	14,785	$	18,190	$	12,187	$	5,064	$	35,441

Service and other revenues
Service-type warranties	$	1,320	$	688	$	124	$	2,132	$	2,603	$	1,347	$	216	$	4,166
Research services		5,511		316		8		5,835		11,607		447		21		12,075
Other services		317		237		27		581		601		448		68		1,117
Total	$	7,148	$	1,241	$	159	$	8,548	$	14,811	$	2,242	$	305	$	17,358

Collaboration and license revenue
Collaboration and license revenue	$	43	$	49	$	—	$	92	$	43	$	83	$	52	$	178


	Three Months Ended June 30, 2021								Six Months Ended June 30, 2021
	NA		EMEA		Asia Pacific		Total		NA		EMEA		Asia Pacific		Total
Product revenues
Instruments	$	2,122	$	1,630	$	2,086	$	5,838	$	5,878	$	4,463	$	2,458	$	12,799
Consumable and other products		8,812		3,251		775		12,838		15,723		6,744		1,658		24,125
Total	$	10,934	$	4,881	$	2,861	$	18,676	$	21,601	$	11,207	$	4,116	$	36,924

Service and other revenues
Service-type warranties	$	1,098	$	458	$	51	$	1,607	$	2,069	$	896	$	113	$	3,078
Research services		2,728		763		27		3,518		6,286		1,491		39		7,816
Other services		351		172		—		523		807		356		—		1,163
Total	$	4,177	$	1,393	$	78	$	5,648	$	9,162	$	2,743	$	152	$	12,057

Collaboration and license revenue
Collaboration and license revenue	$	41	$	64	$	—	$	105	$	228	$	138	$	—	$	366

Schedule of changes in deferred revenue from contracts with customers

Changes in deferred revenue from contracts with customers were as follows (in thousands):


	Six Months Ended June 30, 2022
Balance at December 31, 2021	$	7,460
Deferral of revenue		10,403
Recognition of deferred revenue		(4,175)
Balance at June 30, 2022	$	13,688

Schedule of costs to obtain a contract


	Six Months Ended June 30, 2022
Balance at December 31, 2021	$	440
Deferral of costs to obtain a contract		632
Recognition of costs to obtain a contract		(662)
Balance at June 30, 2022	$	410

Schedule of summary of the activity under WP2

The following table summarizes the cumulative activity under WP2 (in thousands):


	June 30, 2022		December 31, 2021

Grant revenue from research and development activities	$	9,576	$	9,576
Proceeds used for assets		8,624		8,104
Deferred proceeds for assets		—		—
Deferred grant revenue		—		—
Total recognized	$	18,200	$	17,680

Recognized	$	18,200	$	17,680
Amount accrued		—		—
Total cash received	$	18,200	$	17,680

Proceeds received	$	18,200	$	17,680
Proceeds reasonably assured		—		520
Total WP2 grant amount	$	18,200	$	18,200

Fair value of financial instruments (Details) - Money market funds - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash equivalents	$ 332,405	$ 332,093
Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash equivalents	$ 332,405	$ 332,093

Revenue recognition - Summarizes the activity under WP2 (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 29, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue		$ 23,500	$ 25,371	$ 53,052	$ 52,580
Grant revenue
Disaggregation of Revenue [Line Items]
Total revenue		75	$ 942	75	$ 3,233
RADx WP2
Disaggregation of Revenue [Line Items]
Total WP2 grant amount	$ 18,200			18,200
RADx WP2 \| Grant revenue
Disaggregation of Revenue [Line Items]
Total revenue		$ 0		9,576		$ 9,576
Proceeds used for assets				8,624		8,104
Total recognized				18,200		17,680
Total cash received				18,200		17,680
Proceeds received				18,200		17,680
Proceeds reasonably assured						520
Total WP2 grant amount				$ 18,200		$ 18,200

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Leases - Future minimum commitments (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases
2023	$ 5,918
2024	6,860
2025	7,046
2026	7,271
2027	7,502
Thereafter	27,520
Total lease payments	62,117
Less: imputed interest	16,286
Total operating lease liabilities	$ 45,831

Revenue recognition - Disaggregated revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue recognition
Total revenue	$ 23,500	$ 25,371	$ 53,052	$ 52,580
Product revenue
Revenue recognition
Total revenue	14,785	18,676	35,441	36,924
Product revenue \| NA
Revenue recognition
Total revenue	7,192	10,934	18,190	21,601
Product revenue \| EMEA
Revenue recognition
Total revenue	5,715	4,881	12,187	11,207
Product revenue \| Asia Pacific
Revenue recognition
Total revenue	1,878	2,861	5,064	4,116
Instruments
Revenue recognition
Total revenue	5,604	5,838	11,826	12,799
Instruments \| NA
Revenue recognition
Total revenue	2,473	2,122	4,638	5,878
Instruments \| EMEA
Revenue recognition
Total revenue	2,127	1,630	4,173	4,463
Instruments \| Asia Pacific
Revenue recognition
Total revenue	1,004	2,086	3,015	2,458
Consumable and other products
Revenue recognition
Total revenue	9,181	12,838	23,615	24,125
Consumable and other products \| NA
Revenue recognition
Total revenue	4,719	8,812	13,552	15,723
Consumable and other products \| EMEA
Revenue recognition
Total revenue	3,588	3,251	8,014	6,744
Consumable and other products \| Asia Pacific
Revenue recognition
Total revenue	874	775	2,049	1,658
Service and other revenue
Revenue recognition
Total revenue	8,548	5,648	17,358	12,057
Service and other revenue \| NA
Revenue recognition
Total revenue	7,148	4,177	14,811	9,162
Service and other revenue \| EMEA
Revenue recognition
Total revenue	1,241	1,393	2,242	2,743
Service and other revenue \| Asia Pacific
Revenue recognition
Total revenue	159	78	305	152
Service-type warranties
Revenue recognition
Total revenue	2,132	1,607	4,166	3,078
Service-type warranties \| NA
Revenue recognition
Total revenue	1,320	1,098	2,603	2,069
Service-type warranties \| EMEA
Revenue recognition
Total revenue	688	458	1,347	896
Service-type warranties \| Asia Pacific
Revenue recognition
Total revenue	124	51	216	113
Research services
Revenue recognition
Total revenue	5,835	3,518	12,075	7,816
Research services \| NA
Revenue recognition
Total revenue	5,511	2,728	11,607	6,286
Research services \| EMEA
Revenue recognition
Total revenue	316	763	447	1,491
Research services \| Asia Pacific
Revenue recognition
Total revenue	8	27	21	39
Other services
Revenue recognition
Total revenue	581	523	1,117	1,163
Other services \| NA
Revenue recognition
Total revenue	317	351	601	807
Other services \| EMEA
Revenue recognition
Total revenue	237	172	448	356
Other services \| Asia Pacific
Revenue recognition
Total revenue	27		68
Collaboration and license revenue
Revenue recognition
Total revenue	92	105	178	366
Collaboration and license revenue \| NA
Revenue recognition
Total revenue	43	41	43	228
Collaboration and license revenue \| EMEA
Revenue recognition
Total revenue	$ 49	$ 64	83	$ 138
Collaboration and license revenue \| Asia Pacific
Revenue recognition
Total revenue			$ 52

Stock-based compensation - Share-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-based compensation
Share-based compensation expense	$ 5,186	$ 3,650	$ 9,013	$ 7,036
Former Chief Executive Officer
Stock-based compensation
Share-based compensation expense	700		700
Cost of product revenue
Stock-based compensation
Share-based compensation expense	137	96	225	186
Cost of service and other revenue
Stock-based compensation
Share-based compensation expense	205	122	371	232
Research and development
Stock-based compensation
Share-based compensation expense	482	409	880	808
General and administrative
Stock-based compensation
Share-based compensation expense	4,362	$ 3,023	7,537	$ 5,810
Restricted stock units and stock options
Stock-based compensation
Total unrecognized compensation cost related to unvested stock awards	$ 46,400		$ 46,400
Period of recognition of unrecognized compensation cost			2 years 10 months 24 days

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$ 361,293	$ 396,465	$ 430,780
Restricted cash	2,594	2,577	1,400
Total cash, cash equivalents, and restricted cash	$ 363,887	$ 399,042	$ 432,180	$ 182,584

Subsequent events (Details) - Subsequent event $ in Millions	Aug. 08, 2022 USD ($) employee
Subsequent events
Restructuring and Related Cost, Number of Positions Eliminated \| employee	130,000,000
Minimum
Subsequent events
Restructuring and Related Cost, Expected Cost	$ 7
Maximum
Subsequent events
Restructuring and Related Cost, Expected Cost	$ 10

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Loss.

Accumulated Other Comprehensive Loss

14. Accumulated Other Comprehensive Loss

The following shows the changes in the components of accumulated other comprehensive loss (in thousands):


	Cumulative translation adjustment		Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021	$	441	$	441
Current period accumulated other comprehensive loss		(2,644)		(2,644)
Balance at June 30, 2022	$	(2,203)	$	(2,203)

	Cumulative translation adjustment		Accumulated Other Comprehensive Income
Balance at December 31, 2020	$	2,434	$	2,434
Current period accumulated other comprehensive loss		(856)		(856)
Balance at June 30, 2021	$	1,578	$	1,578

Collaboration and license arrangements

6 Months Ended

Jun. 30, 2022

Collaboration and license arrangements

Collaboration and license arrangements

12. Collaboration and license arrangements

The Company has entered into certain licenses with other companies for use of the Company’s technology. These licenses have royalty components which the Company earns and recognizes as collaboration and license revenue throughout the year. At both June 30, 2022 and December 31, 2021, the Company had $0.5 million of deferred revenue related to ongoing negotiations with a diagnostics company.

Abbott Laboratories

On September 29, 2020, the Company entered into a Non-Exclusive License Agreement (the Abbott License Agreement) with Abbott Laboratories (Abbott). Pursuant to the terms of the Abbott License Agreement, the Company granted Abbott a non-exclusive, worldwide, royalty-bearing license, without the right to sublicense, under the Company’s bead-based single molecule detection patents (Licensed Patents) in the field of in vitro diagnostics. Abbott agreed to pay the Company an initial license fee of $10.0 million in connection with the execution of the Abbott License Agreement, which was recognized as license revenue during the 2020 fiscal year. Abbott has also agreed to pay the Company milestone fees subject to the achievement by Abbott of certain development, regulatory and commercialization milestones and low single-digit royalties on net sales of licensed products.

The Abbott License Agreement includes customary representations and warranties, covenants and indemnification obligations for a transaction of this nature. The Abbott License Agreement became effective upon signing and will continue until expiration of the last-to-expire Licensed Patent, or the agreement is earlier terminated. Under the terms of the Abbott License Agreement, the Company and Abbott each have the right to terminate the agreement for uncured material breach by, or insolvency of, the other party. Abbott may also terminate the Abbott License Agreement at any time without cause upon 60 days’ notice.

During the three and six months ended June 30, 2022 and 2021, the Company recognized no revenue under the Abbott License Agreement.

Related party transactions (Details) $ in Thousands		3 Months Ended		6 Months Ended
Related party transactions (Details) $ in Thousands	Mar. 26, 2022 USD ($)	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) item	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Related party transactions
Accounts receivable, related parties		$ 0		$ 0		$ 18
Accounts payable, related parties		20		20		6
Related party activity research and development expenses		29	$ 40	61	$ 51
Related party activity in selling, general and administrative expenses		8	9	41	23
Product revenue
Related party transactions
Cost of revenue, related party activity		11	23	20	30
Service and other revenue
Related party transactions
Cost of revenue, related party activity		34	34	87	51
Service revenue
Related party transactions
Related party revenue			4		24
Harvard University
Related party transactions
Related party revenue		100	$ 200	300	$ 200
Accounts receivable, related parties						$ 200
Deferred revenue from related parties		$ 100		$ 100
UltraDx
Related party transactions
Purchase price	$ 1,900
Number Of Manufacturing Instruments \| item		10		10

Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated other comprehensive loss
Current period accumulated other comprehensive loss	$ (1,447)	$ 395	$ (2,644)	$ (856)
Cumulative translation adjustment
Accumulated other comprehensive loss
Beginning balance			441	2,434
Current period accumulated other comprehensive loss			(2,644)	(856)
Ending Balance	(2,203)	1,578	(2,203)	1,578
Accumulated other comprehensive income (loss)
Accumulated other comprehensive loss
Beginning balance			441	2,434
Current period accumulated other comprehensive loss	(1,447)	395	(2,644)	(856)
Ending Balance	$ (2,203)	$ 1,578	$ (2,203)	$ 1,578

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21914-107793

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4568740-111683

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 5
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21711-107793

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 24: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4568447-111683

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

+ Details

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common stock Underwritten public offering	Common stock	Additional paid-in capital Underwritten public offering	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit	Underwritten public offering	Total
Beginning Balance at Dec. 31, 2020		$ 32		$ 451,433	$ 2,434	$ (247,774)		$ 206,125
Beginning balance (in shares) at Dec. 31, 2020		31,796,544
Increase (Decrease) in Stockholders' Equity
Exercised warrants (in shares)		7,347
Exercised stock options		$ 1		5,468				5,469
Exercised stock options (in shares)		392,379
Restricted units converted (in shares)		133,732
ESPP stock purchase				519				519
ESPP stock purchase (in shares)		17,225
Issuance of common stock	$ 4		$ 269,714				$ 269,718
Issuance of common stock (in shares)	4,107,142
Stock-based compensation expense				7,036				7,036
Cumulative translation adjustment					(856)			(856)
Net loss						(22,001)		(22,001)
Ending Balance at Jun. 30, 2021		$ 37		734,170	1,578	(269,775)		466,010
Ending Balance (in shares) at Jun. 30, 2021		36,454,369
Beginning Balance at Mar. 31, 2021		$ 36		728,128	1,183	(257,878)		471,469
Beginning balance (in shares) at Mar. 31, 2021		36,294,928
Increase (Decrease) in Stockholders' Equity
Exercised stock options		$ 1		2,392				2,393
Exercised stock options (in shares)		111,055
Restricted units converted (in shares)		48,386
Stock-based compensation expense				3,650				3,650
Cumulative translation adjustment					395			395
Net loss						(11,897)		(11,897)
Ending Balance at Jun. 30, 2021		$ 37		734,170	1,578	(269,775)		466,010
Ending Balance (in shares) at Jun. 30, 2021		36,454,369
Increase (Decrease) in Stockholders' Equity
Accumulated other comprehensive income								441
Beginning Balance at Dec. 31, 2021		$ 37		745,936	441	(305,462)		440,952
Beginning balance (in shares) at Dec. 31, 2021		36,768,035
Increase (Decrease) in Stockholders' Equity
Exercised stock options				596				596
Exercised stock options (in shares)		84,536
Restricted units converted (in shares)		99,034
ESPP stock purchase				594				594
ESPP stock purchase (in shares)		20,449
Issuance of common stock (in shares)		2,773
Stock-based compensation expense				9,013				9,013
Cumulative translation adjustment					(2,644)			(2,644)
Net loss						(43,055)		(43,055)
Ending Balance at Jun. 30, 2022		$ 37		756,139	(2,203)	(348,517)		405,456
Ending Balance (in shares) at Jun. 30, 2022		36,974,827
Beginning Balance at Mar. 31, 2022		$ 37		750,742	(756)	(323,615)		426,408
Beginning balance (in shares) at Mar. 31, 2022		36,899,156
Increase (Decrease) in Stockholders' Equity
Exercised stock options				211				211
Exercised stock options (in shares)		24,410
Restricted units converted (in shares)		49,826
Issuance of common stock (in shares)		1,435
Stock-based compensation expense				5,186				5,186
Cumulative translation adjustment					(1,447)			(1,447)
Net loss						(24,902)		(24,902)
Ending Balance at Jun. 30, 2022		$ 37		$ 756,139	$ (2,203)	$ (348,517)		405,456
Ending Balance (in shares) at Jun. 30, 2022		36,974,827
Increase (Decrease) in Stockholders' Equity
Accumulated other comprehensive income								$ (2,203)

Fair value of financial instruments

6 Months Ended

Jun. 30, 2022

Fair value of financial instruments

Fair value of financial instruments

5. Fair value of financial instruments

Fair value measurements are as follows (in thousands):


June 30, 2022	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets
Cash equivalents - money market funds	$	332,405	$	332,405	$	—	$	—


December 31, 2021	Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets
Cash equivalents - money market funds	$	332,093	$	332,093	$	—	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenue recognition

6 Months Ended

Jun. 30, 2022

Revenue recognition

Revenue recognition

3. Revenue recognition

The Company recognizes revenue when a customer obtains control of a promised good or service. The amount of revenue recognized reflects consideration that the Company expects to be entitled to receive in exchange for these goods and services, incentives and taxes collected from customers that are subsequently remitted to governmental authorities.

Customers

The Company’s customers primarily consist of entities engaged in the life sciences research market that pursue the discovery and development of new drugs for a variety of neurologic, cardiovascular, oncologic and other protein biomarkers associated with diseases. The Company’s customer base includes several of the largest biopharmaceutical companies, academic research organizations and distributors who serve certain geographic markets.

Product revenue

The Company’s products are composed of analyzer instruments, assay kits and other consumables such as reagents. Products are sold directly to biopharmaceutical and academic research organizations or are sold through distributors in EMEA and Asia Pacific regions. The sales of instruments are generally accompanied by an initial year of implied service-type warranties and may be bundled with assays and other consumables and may also include other items such as training and installation of the instrument and/or an extended service warranty. Revenues from the sale of products are recognized at a point in time when the Company transfers control of the product to the customer, which is upon installation for instruments sold to direct customers, and based upon shipping terms for assay kits and other consumables. Revenue for instruments sold to distributors is generally recognized based upon shipping terms (either upon shipment or delivery).

Service and other revenue

Service revenues are composed of contract research services, initial implied one-year service-type warranties, extended services contracts and other services such as training. Contract research services are provided through the Company’s Accelerator Laboratory and generally consist of fixed fee contracts. Revenues from contract research services are recognized at a point in time when the Company completes and delivers its research report on each individually completed study, or over time if the contractual provisions allow for the collection of transaction consideration for costs incurred plus a reasonable margin through the period of performance of the services. Revenues from service-type warranties are recognized ratably over the contract service period. For contract research services recognized over time, the Company uses the output method to measure the progress toward the complete satisfaction of the performance obligations. Revenues from other services are immaterial.

During the first quarter of 2022, the Company entered into a Master Collaboration Agreement with Eli Lilly and Company (Lilly) establishing a framework for future projects focused on the development of Simoa immunoassays (the Lilly Collaboration Agreement). The Company also entered into a Statement of Work under the Lilly Collaboration Agreement to perform assay research and development services within the field of Alzheimer’s disease. In connection with the Lilly Collaboration Agreement, the Company received a non-refundable up-front payment of $5.0 million

during the first quarter of 2022, and under the Statement of Work receives $1.5 million per calendar quarter during 2022, beginning with the first quarter of 2022. The revenue will be recognized over a one-year period.

Concurrent with the execution of the Lilly Collaboration Agreement, the Company entered into a Technology License Agreement (the Lilly License) under which Lilly granted to the Company a non-exclusive license to Lilly’s proprietary P-tau217 antibody technology for potential near-term use in research use only products and services and future in vitro diagnostics applications within the field of Alzheimer’s disease. In consideration of the license, the Company paid an upfront fee, is required to make milestone payments based on the achievement of predetermined regulatory and commercial events, and will pay a royalty on net sales of licensed products.

The Company concluded that the Lilly Collaboration Agreement (including the Statement of Work) and the Lilly License represented a single contract with a customer and is accounting for the agreements as service revenue recognized over time as the services are delivered. The transaction price for the Lilly Collaboration Agreement is $10.9 million. Contingent amounts due to Lilly represent variable consideration payable to a customer and will be recognized as reductions to service revenue up to the amount of the transaction price recognized, when probable. The Company is utilizing an input method to measure the delivery of services by calculating costs incurred at each period end relative to total costs expected to be incurred.

During the three and six months ended June 30, 2022, the Company recognized approximately $2.7 million and $5.4 million, respectively, of revenue from the Lilly Collaboration Agreement as service revenue.

Collaboration and license revenue

The Company may enter into agreements to license the intellectual property and know-how associated with its instruments and certain antibodies in exchange for license fees and future royalties (as described below). The license agreements provide the licensee with a right to use the intellectual property with the license fee revenues recognized at a point in time as the underlying license is considered functional intellectual property.

Payment terms

The Company’s payment terms vary by the type and location of the customer and the products or services offered. Payment from customers is generally required in a term ranging from 30 to 45 days from date of shipment or satisfaction of the performance obligation. The Company does not provide financing arrangements to its customers.

Disaggregated revenue

When disaggregating revenue, the Company considered all of the economic factors that may affect its revenues. The following tables disaggregate the Company's revenue from contracts with customers by revenue type (in thousands):


	Three Months Ended June 30, 2022								Six Months Ended June 30, 2022
	NA		EMEA		Asia Pacific		Total		NA		EMEA		Asia Pacific		Total
Product revenues
Instruments	$	2,473		2,127		1,004	$	5,604	$	4,638	$	4,173	$	3,015	$	11,826
Consumable and other products		4,719		3,588		874		9,181		13,552		8,014		2,049		23,615
Total	$	7,192		5,715		1,878	$	14,785	$	18,190	$	12,187	$	5,064	$	35,441

Service and other revenues
Service-type warranties	$	1,320	$	688	$	124	$	2,132	$	2,603	$	1,347	$	216	$	4,166
Research services		5,511		316		8		5,835		11,607		447		21		12,075
Other services		317		237		27		581		601		448		68		1,117
Total	$	7,148	$	1,241	$	159	$	8,548	$	14,811	$	2,242	$	305	$	17,358

Collaboration and license revenue
Collaboration and license revenue	$	43	$	49	$	—	$	92	$	43	$	83	$	52	$	178


	Three Months Ended June 30, 2021								Six Months Ended June 30, 2021
	NA		EMEA		Asia Pacific		Total		NA		EMEA		Asia Pacific		Total
Product revenues
Instruments	$	2,122	$	1,630	$	2,086	$	5,838	$	5,878	$	4,463	$	2,458	$	12,799
Consumable and other products		8,812		3,251		775		12,838		15,723		6,744		1,658		24,125
Total	$	10,934	$	4,881	$	2,861	$	18,676	$	21,601	$	11,207	$	4,116	$	36,924

Service and other revenues
Service-type warranties	$	1,098	$	458	$	51	$	1,607	$	2,069	$	896	$	113	$	3,078
Research services		2,728		763		27		3,518		6,286		1,491		39		7,816
Other services		351		172		—		523		807		356		—		1,163
Total	$	4,177	$	1,393	$	78	$	5,648	$	9,162	$	2,743	$	152	$	12,057

Collaboration and license revenue
Collaboration and license revenue	$	41	$	64	$	—	$	105	$	228	$	138	$	—	$	366

For each of the three and six months ended June 30, 2022, there was one customer that accounted for 18% of the Company’s total revenue.

The Company’s contracts with customers may include promises to transfer multiple products and services to a customer. The Company combines any performance obligations that are immaterial with one or more other performance obligations that are material to the contract. For arrangements with multiple performance obligations, the Company allocates the contract transaction price, including discounts, to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company determines standalone selling prices based on prices charged to customers in observable transactions and uses a range of amounts to estimate standalone selling prices for each performance obligation. The

Company may have more than one range of standalone selling price for certain products and services based on the pricing for different customer classes.

Variable consideration in the Company’s contracts primarily relates to (i) sales- and usage-based royalties related to the license of intellectual property in collaboration and license contracts and (ii) certain non-fixed fee research services contracts. Accounting Standard Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) provides for an exception to estimating the variable consideration for sales- and usage-based royalties related to the license of intellectual property, such that the sales- and usage-based royalty will be recognized in the period the underlying transaction occurs. The Company recognizes revenue from sales- and usage-based royalty revenue at the later of when the sale or usage occurs and the satisfaction or partial satisfaction of the performance obligation to which the royalty has been allocated.

Changes in deferred revenue from contracts with customers were as follows (in thousands):


	Six Months Ended June 30, 2022
Balance at December 31, 2021	$	7,460
Deferral of revenue		10,403
Recognition of deferred revenue		(4,175)
Balance at June 30, 2022	$	13,688

As of June 30, 2022, of the performance obligations not yet satisfied or partially satisfied, $12.2 million is expected to be recognized as revenue in the next 12 months, with the remainder to be recognized within the 24 months thereafter. The $12.2 million at June 30, 2022 principally consists of amounts billed for undelivered services related to initial and extended service-type warranties and research services, as well as $0.5 million related to undelivered licenses of intellectual property for a diagnostics company (see Note 12).

Costs to obtain a contract

The Company’s sales commissions are generally based on bookings of the Company. The Company has determined that certain commissions paid under its sales incentive programs meet the requirements to be capitalized as they are incremental and would not have occurred absent a customer contract. The change in the balance of costs to obtain a contract are as follows (in thousands):


	Six Months Ended June 30, 2022
Balance at December 31, 2021	$	440
Deferral of costs to obtain a contract		632
Recognition of costs to obtain a contract		(662)
Balance at June 30, 2022	$	410

The Company has classified the balance of capitalized costs to obtain a contract as a component of prepaid expenses and other current assets and classifies the expense as a component of cost of goods sold and selling, general, and administrative expense over the estimated life of the contract. The Company considers potential impairment in these amounts each period.

ASC 606 provides entities with certain practical expedients and accounting policy elections to minimize the cost and burden of adoption.

The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed.

The Company will exclude from its transaction price any amounts collected from customers related to sales and other similar taxes.

When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. The Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2022 and 2021, respectively.

The Company has elected to account for the shipping and handling as an activity to fulfill the promise to transfer the product, and therefore will not evaluate whether shipping and handling activities are promised services to its customers.

Grant revenue

The Company recognizes grant revenue as the Company performs services under the arrangement when the funding is committed. Revenues and related research and development expenses are presented gross in the consolidated statements of operations as the Company has determined it is the primary obligor under the arrangement relative to the research and development services.

Accounting for grants does not fall under ASC 606, as the grantor will not benefit directly from the Company’s expansion or product development. As there is no authoritative guidance under U.S. GAAP on accounting for grants to for-profit business entities from government entities, the Company has accounted for grants under workplan 2 (WP2) with the National Institute of Health (NIH) under its Rapid Acceleration of Diagnostics (RADx) program by analogy to International Accounting Standards Topic 20, Accounting for Government Grants and Disclosure of Government Assistance (IAS 20). The Company accounts for grants from the Alzheimer’s Drug Discovery Foundation (ADDF) under ASC Topic 958, Not-for-Profit Entities (ASC 958).

WP2

Grants to the Company under WP2 contain both monetary amounts granted related to assets and monetary amounts granted related to income, which are grants other than those related to assets. The grants related to assets are for the expansion and increase of manufacturing capacity. The grants related to income are for additional research and development, as well as other non-asset related scale up costs.

Under IAS 20, grants related to assets shall be presented in the consolidated balance sheets either by recognizing the grant as deferred income (which is recognized in the consolidated statements of operations on a systematic basis over the useful life of the asset), or by deducting the grant in calculating the carrying amount of the asset (which is recognized in the consolidated statements of operations over the life of the depreciable asset as a reduced depreciation expense). Both methods are acceptable under IAS 20. The Company has elected to record grants related to assets as a deduction in calculating the carrying value of the asset.

Under IAS 20, grants related to income are presented as part of the consolidated statements of operations, either separately or under a general heading. Both methods are acceptable under IAS 20. The Company has elected to record grants related to income separately on the consolidated statements of operations as grant revenue. The related expenses are recorded within operating expenses.

On September 29, 2020, the Company entered into WP2. The contract, which had a total award value of $18.2 million, accelerated the continued development, scale-up, and deployment of the novel SARS-CoV-2 antigen detection test using the Company’s Simoa technology. The contract provided funding to expand assay kit manufacturing capacity and commercial deployment readiness. Release of the $18.2 million of funding under WP2 was based on the achievement of certain milestones. Contract funding was subject to achievement of these pre-defined milestones and the contract period ran through September 2021, with one milestone extended to May 31, 2022. As of June 30, 2022, the Company has received the full $18.2 million under WP2. During the three and six months ended June 30, 2022, the Company recognized no grant revenue and incurred no research and development expense related to WP2. During the three months ended June 30, 2021, the Company recognized $0.9 million in grant revenue and incurred $1.8 million in

research and development expense related to WP2. During the six months ended June 30, 2021, the Company recognized $3.2 million in grant revenue and incurred $2.9 million in research and development expense related to WP2.

The following table summarizes the cumulative activity under WP2 (in thousands):


	June 30, 2022		December 31, 2021

Grant revenue from research and development activities	$	9,576	$	9,576
Proceeds used for assets		8,624		8,104
Deferred proceeds for assets		—		—
Deferred grant revenue		—		—
Total recognized	$	18,200	$	17,680

Recognized	$	18,200	$	17,680
Amount accrued		—		—
Total cash received	$	18,200	$	17,680

Proceeds received	$	18,200	$	17,680
Proceeds reasonably assured		—		520
Total WP2 grant amount	$	18,200	$	18,200

ADDF

Under ASC 958, grants related to income are presented as part of the consolidated statements of operations, either separately or under a general heading. Both methods are acceptable under ASC 958. The Company has elected to record grants related to income separately on the consolidated statements of operations as grant revenue. The related expenses are recorded within operating expenses.

On March 24, 2022, the Company entered into a contract with ADDF (ADDF grant). ADDF is a charitable venture philanthropy entity that has granted the Company funding in support of certain activities for the development of an in vitro diagnostic (IVD) test for early detection of Alzheimer's disease. The ADDF grant, which has a total funding value of $2.3 million, restricts the Company’s use of the granted funds to be used solely for activities related to the Alzheimer’s diagnostic test development project. Contract funding is subject to achievement of these pre-defined milestones and the contract period runs through June 2024. The Company recognizes revenue over time as the related services are performed. As of June 30, 2022, the Company had received $1.3 million out of the full $2.3 million under the ADDF grant. During the three and six months ended June 30, 2022, the Company recognized $0.1 million in grant revenue and incurred $0.1 million in research and development expense related to the ADDF grant.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Commitments and contingencies

6 Months Ended

Jun. 30, 2022

Commitments and contingencies

Commitments and contingencies

11. Commitments and contingencies

Legal contingencies

The Company is subject to claims in the ordinary course of business; however, the Company is not currently a party to any pending or threatened litigation, the outcome of which would be expected to have a material adverse effect on its financial condition or the results of its operations. The Company accrues for contingent liabilities to the extent that the liability is probable and estimable.

Revenue recognition - Customers and service and other revenue (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) customer	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) customer	Jun. 30, 2021 USD ($)
Revenue recognition
Service type warranties term			1 year
Revenue	$ 23,500	$ 25,371	$ 53,052	$ 52,580
One customer \| Customer Concentration Risk \| Revenue
Revenue recognition
Number Of Customers With High Percent Of Total Revenue \| customer	1		1
Revenue as a percentage of total revenue	18.00%		18.00%
Product revenue
Revenue recognition
Revenue	$ 14,785	18,676	$ 35,441	36,924
Service and other revenue
Revenue recognition
Revenue	8,548	$ 5,648	17,358	$ 12,057
Collaboration agreement \| Product revenue
Revenue recognition
Revenue	2,700
Collaboration agreement \| Service and other revenue
Revenue recognition
Revenue			5,400
Collaboration agreement \| Eli Lilly
Revenue recognition
Transaction price due	$ 10,900		10,900
Master collaboration agreement \| Eli Lilly
Revenue recognition
Non-refundable up-front payment received			5,000
Statement of works agreement \| Eli Lilly
Revenue recognition
Collaborative arrangement payment received per quarter			$ 1,500
Minimum
Revenue recognition
Period of payment			30 days
Maximum
Revenue recognition
Period of payment			45 days

Leases - Lease costs recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lease Costs
Operating lease costs	$ 1,569	$ 663	$ 2,232	$ 1,334
Total lease cost	$ 1,569	$ 663	$ 2,232	$ 1,334
Weighted average remaining lease term	8 years 6 months	9 years 7 months 6 days	8 years 6 months	9 years 7 months 6 days
Weighted average discount rate	7.20%	9.70%	7.20%	9.70%
Operating cash flows used for operating leases	$ 532	$ 837	$ 1,394	$ 1,683

Accumulated other comprehensive loss (Tables)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Loss.

Schedule of Accumulated other comprehensive loss

The following shows the changes in the components of accumulated other comprehensive loss (in thousands):


	Cumulative translation adjustment		Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021	$	441	$	441
Current period accumulated other comprehensive loss		(2,644)		(2,644)
Balance at June 30, 2022	$	(2,203)	$	(2,203)

	Cumulative translation adjustment		Accumulated Other Comprehensive Income
Balance at December 31, 2020	$	2,434	$	2,434
Current period accumulated other comprehensive loss		(856)		(856)
Balance at June 30, 2021	$	1,578	$	1,578

Other accrued expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other accrued expenses
Inventory purchases	$ 187	$ 568
Property and equipment purchases	308	229
Royalties	748	1,250
Professional services	701	2,126
Development costs	598	566
Tax liabilities	698	430
Other	1,559	1,317
Total accrued expenses	$ 4,799	$ 6,486

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (24,902)	$ (11,897)	$ (43,055)	$ (22,001)
Other comprehensive loss:
Cumulative translation adjustment	(1,447)	395	(2,644)	(856)
Total other comprehensive (loss) income	(1,447)	395	(2,644)	(856)
Comprehensive loss	$ (26,349)	$ (11,502)	$ (45,699)	$ (22,857)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Other accrued expenses (Tables)

6 Months Ended

Jun. 30, 2022

Other accrued expenses

Summary of other accrued expenses


	June 30, 2022			December 31, 2021
Inventory purchases	$	187	$	568
Property and equipment purchases		308		229
Royalties		748		1,250
Professional services		701		2,126
Development costs		598		566
Tax liabilities		698		430
Other		1,559		1,317
Total accrued expenses	$	4,799	$	6,486

Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2022

Allowance for Credit Losses

Schedule of the allowance for credit losses


Balance at January 1, 2022	$	419
Credit loss expense		581
Write-offs charged against allowances		—
Balance at June 30, 2022	$	1,000

Subsequent Events

6 Months Ended

Jun. 30, 2022

Subsequent Events

Subsequent Events

15. Subsequent Events

Following a strategic review and assessment of the Company’s operations, cost structure and growth opportunities, on August 8, 2022, the Company announced a plan of restructuring and strategic re-alignment, which includes the elimination of approximately 130 positions across the Company and other cost-saving measures (the Restructuring). The Company expects to substantially complete the workforce reduction by the end of the third quarter of 2022. The Company expects to record a charge in the range of $7 million to $10 million in the third quarter of 2022 as a result of the workforce reduction, consisting of one-time termination benefits for employee severance, benefits and related costs, all of which are expected to result in cash expenditures and substantially all of which will be paid out over the next five months. The Company may also implement other cost savings measures as part of the Restructuring and may incur termination and other costs in connection with such measures, which could be material. As part of the Restructuring, the Company is also reviewing its alternatives with respect to additional facility space that it currently leases in Bedford, Massachusetts (see Note 10). These alternatives may include the termination of the lease or the sub-lease of all or a portion of the leased facility. The Company is currently unable to estimate facility-related charges, which could be material.

On August 7, 2022, E. Kevin Hrusovsky, Executive Chairman of Quanterix (the Company), entered into a separation agreement and release with the Company, effective as of August 8, 2022, pursuant to which his employment as Executive Chairman of the Company’s Board of Directors (the Board) has ended and he has resigned as a Director on the Board, both effective August 8, 2022. In connection with his resignation, Mr. Hrusovsky will receive severance benefits consistent with the provisions of his employment agreement with the Company, dated as of April 25, 2022. The Company’s current Lead Independent Director, Martin D. Madaus, Ph.D., has been elected to succeed Mr. Hrusovsky as Chairman of the Board, effective as of August 8, 2022.

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenue	$ 23,500	$ 25,371	$ 53,052	$ 52,580
Costs of goods sold:
Total costs of goods sold and services	14,789	11,497	29,782	22,357
Gross profit	8,711	13,874	23,270	30,223
Operating expenses:
Research and development	6,625	6,754	13,659	13,437
Selling, general and administrative	27,045	20,788	52,757	40,243
Total operating expenses	33,670	27,542	66,416	53,680
Loss from operations	(24,959)	(13,668)	(43,146)	(23,457)
Interest income (expense), net	552	(165)	604	(328)
Other (expense) income, net	(358)	1,977	(575)	1,783
Loss before income taxes	(24,765)	(11,856)	(43,117)	(22,002)
Income tax provision (benefit)	137	41	(62)	(1)
Net loss	$ (24,902)	$ (11,897)	$ (43,055)	$ (22,001)
Net loss per share, basic (in dollars per share)	$ (0.67)	$ (0.33)	$ (1.17)	$ (0.62)
Net loss per share, diluted (in dollars per share)	$ (0.67)	$ (0.33)	$ (1.17)	$ (0.62)
Weighted-average common shares outstanding, basic (in shares)	36,922,468	36,347,365	36,886,879	35,396,431
Weighted-average common shares outstanding, diluted (in shares)	36,922,468	36,347,365	36,886,879	35,396,431
Product revenue
Total revenue	$ 14,785	$ 18,676	$ 35,441	$ 36,924
Costs of goods sold:
Total costs of goods sold and services	9,921	8,114	20,667	15,594
Service and other revenue
Total revenue	8,548	5,648	17,358	12,057
Costs of goods sold:
Total costs of goods sold and services	4,868	3,383	9,115	6,763
Collaboration and license revenue
Total revenue	92	105	178	366
Grant revenue
Total revenue	$ 75	$ 942	$ 75	$ 3,233

Net loss per share - Common share equivalents have been excluded from the calculation of diluted net loss per share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock options
Net loss per share
Number of common share equivalents excluded in the calculation of diluted net loss per share	2,578,139	2,277,005	2,382,744	2,277,005
Unvested restricted stock and stock units
Net loss per share
Number of common share equivalents excluded in the calculation of diluted net loss per share	928,192	572,132	759,143	572,132

Stock-based compensation

6 Months Ended

Jun. 30, 2022

Stock-based compensation

Stock-based compensation

9. Stock-based compensation

Stock-based compensation expense for all stock awards consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of product revenue	$	137	$	96	$	225	$	186
Cost of service and other revenue		205		122		371		232
Research and development		482		409		880		808
Selling, general, and administrative		4,362		3,023		7,537		5,810
Total	$	5,186	$	3,650	$	9,013	$	7,036

In both the three and six months ended June 30, 2022, the Company incurred approximately $0.7 million of stock-based compensation expense related to the transition of the Company’s former Chief Executive Officer to Executive Chairman in accordance with ASC Topic 718, Compensation - Stock Compensation. As of June 30, 2022, there was $46.4 million of total unrecognized compensation cost related to unvested restricted stock units (RSUs) and stock options, which is expected to be recognized over the remaining weighted-average vesting period of 2.9 years.

Inventory

6 Months Ended

Jun. 30, 2022

Inventory

Inventory

6. Inventory

Inventory consists of the following (in thousands):


	June 30, 2022			December 31, 2021
Raw materials	$	8,710	$	7,892
Work in process		3,395		4,923
Finished goods		9,880		9,375
Total net inventory	$	21,985	$	22,190

Inventory comprises commercial instruments, assays, and the materials required to manufacture limited instruments and assays.

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 361,293	$ 396,465
Accounts receivable (less allowance for credit losses of $1,000 and $419 as of June 30, 2022 and December 31, 2021, respectively)	19,683	23,786
Inventory	21,985	22,190
Prepaid expenses and other current assets	10,237	6,514
Total current assets	413,198	448,955
Restricted cash	2,594	2,577
Property and equipment, net	22,295	17,960
Intangible assets, net	8,527	10,534
Goodwill	8,675	9,632
Right-of-use assets	32,935	11,491
Other non-current assets	377	378
Total assets	488,601	501,527
Current liabilities:
Accounts payable	5,983	9,209
Accrued compensation and benefits	10,638	13,252
Other accrued expenses	4,799	6,486
Deferred revenue	12,157	6,361
Short term lease liabilities	2,696	1,428
Other current liabilities	396	241
Total current liabilities	36,669	36,977
Deferred revenue, net of current portion	1,531	1,099
Long term lease liabilities	43,135	20,464
Other non-current liabilities	1,810	2,035
Commitments and contingencies (Note 11)
Stockholders' equity:
Common stock, $0.001 par value: Authorized-120,000,000 shares as of June 30, 2022 and December 31, 2021; issued and outstanding - 36,974,827 and 36,768,035 shares as of June 30, 2022 and December 31, 2021, respectively	37	37
Additional paid-in capital	756,139	745,936
Accumulated other comprehensive (loss) income	(2,203)	441
Accumulated deficit	(348,517)	(305,462)
Total stockholders' equity	405,456	440,952
Total liabilities and stockholders' equity	$ 488,601	$ 501,527

Collaboration and license arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Collaboration and license arrangements
Revenue	$ 23,500	$ 25,371	$ 53,052	$ 52,580
Deferred revenue	500		500		$ 500
Abbot license agreement
Collaboration and license arrangements
Initial license fee receivable			$ 10,000
Number of days notice to terminate agreement			60 days
Collaboration and license revenue
Collaboration and license arrangements
Revenue	92	105	$ 178	366
Collaboration and license revenue \| Abbot license agreement
Collaboration and license arrangements
Revenue	$ 0	$ 0	$ 0	$ 0

- Definition

+ References

+ Details

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory
Raw Materials	$ 8,710	$ 7,892
Work in process	3,395	4,923
Finished goods	9,880	9,375
Total net inventory	$ 21,985	$ 22,190

Revenue recognition - Changes in deferred revenue from contracts with customers (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Changes in deferred revenue from contracts with customers
Balance at beginning of period	$ 7,460
Deferral of revenue	10,403
Recognition of deferred revenue	(4,175)
Balance at end of period	$ 13,688

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net loss	$ (43,055)	$ (22,001)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	2,790	2,344
Inventory step-up amortization		275
Credit loss expense on accounts receivable	581	20
Reduction in the carrying amount of right-of-use assets	925	246
Stock-based compensation expense	9,013	7,036
Non-cash interest expense		43
Loss on disposal of fixed assets	6
Changes in operating assets and liabilities:
Accounts receivable	3,479	1,740
Prepaid expenses and other assets	930	(2,952)
Inventory	180	(6,793)
Other non-current assets	2	(20)
Accounts payable	(3,220)	40
Accrued compensation and benefits, other accrued expenses and other current liabilities	(4,387)	(3,925)
Contract acquisition costs	30	(72)
Operating lease liabilities	(3,128)	(590)
Other non-current liabilities	(9)	(120)
Deferred revenue	6,228	891
Net cash used in operating activities	(29,635)	(23,838)
Investing activities
Purchases of property and equipment	(6,454)	(7,339)
Proceeds from grant on assets purchased	520	5,210
Net cash used in investing activities	(5,934)	(2,129)
Financing activities
Proceeds from stock options exercised	596	5,469
Sale of common stock in underwritten public offering, net		269,718
Proceeds from ESPP purchase	594	519
Net cash provided by financing activities	1,190	275,706
Net (decrease) increase in cash, cash equivalents and restricted cash	(34,379)	249,739
Effect of foreign currency exchange rate on cash	(776)	(143)
Cash, restricted cash, and cash equivalents at beginning of period	399,042	182,584
Cash, restricted cash, and cash equivalents at end of period	$ 363,887	$ 432,180

Net loss per share

6 Months Ended

Jun. 30, 2022

Net loss per share

Net loss per share

4. Net loss per share

The following common share equivalents have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Stock options	2,578,139	2,277,005	2,382,744	2,277,005
Unvested restricted stock and stock units	928,192	572,132	759,143	572,132

Allowance for Credit Losses

6 Months Ended

Jun. 30, 2022

Allowance for Credit Losses

Allowance for Credit Losses

7. Allowance for Credit Losses

The Company is exposed to credit losses primarily through sales of products and services. The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers’ trade accounts receivable. Due to the short-term nature of such receivables, the estimated accounts receivable that may not be collected is based on aging of the accounts receivable balances.

Customers are assessed for credit worthiness upfront through a credit review, which includes assessment based on the Company’s analysis of customers’ financial statements when a credit rating is not available. The Company evaluates contract terms and conditions, country, and political risk, and may require prepayment to mitigate risk of loss. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company monitors changes to the receivables balance on a timely basis, and balances are written off as they are determined to be uncollectable after all collection efforts have been exhausted.

The following presents the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected (in thousands):


Balance at January 1, 2022	$	419
Credit loss expense		581
Write-offs charged against allowances		—
Balance at June 30, 2022	$	1,000

Other accrued expenses

6 Months Ended

Jun. 30, 2022

Other accrued expenses

Other accrued expenses

8. Other accrued expenses

Other accrued expenses consist of the following (in thousands):


	June 30, 2022			December 31, 2021
Inventory purchases	$	187	$	568
Property and equipment purchases		308		229
Royalties		748		1,250
Professional services		701		2,126
Development costs		598		566
Tax liabilities		698		430
Other		1,559		1,317
Total accrued expenses	$	4,799	$	6,486

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets
Accounts receivable, reserve for doubtful accounts	$ 1,000	$ 419
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	120,000,000	120,000,000
Common stock, shares issued	36,974,827	36,768,035
Common stock, shares outstanding	36,974,827	36,768,035

Revenue recognition - Grant revenue (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 24, 2022	Sep. 29, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Total revenue			$ 23,500	$ 25,371	$ 53,052	$ 52,580
Research and Development Expense			6,625	6,754	13,659	13,437
Proceeds from grant on assets purchased					520	5,210
RADx
Research and Development Expense			1,800
RADx WP2
Contract value		$ 18,200			18,200
Research and Development Expense					0	2,900
ADDF
Contract value	$ 2,300				2,300
Proceeds from grant on assets purchased					1,300
Grant revenue
Total revenue			75	$ 942	75	$ 3,233
Grant revenue \| RADx WP2
Total revenue			0		9,576		$ 9,576
Contract value					18,200		$ 18,200
Grant revenue \| ADDF
Total revenue			100		100
Research and Development Expense			$ 100		$ 100

- Definition

+ References

+ Details

Related party transactions

6 Months Ended

Jun. 30, 2022

Related party transactions

Related party transactions

13. Related party transactions

One of the Company’s Directors is affiliated with Harvard University, the Wyss Institute at Harvard and Mass General Brigham. Revenue recorded from sales to Harvard University and its affiliates and to Mass General Brigham and its affiliates totaled $0.1 million and $0.3 million for the three and six months ended June 30, 2022, respectively, and $0.2 million for each of the three and six months ended June 30, 2021. The Company had $0.2 million in accounts receivable from Harvard University and its affiliates and Mass General Brigham and its affiliates at both June 30, 2022 and December 31, 2021. Deferred revenue from Harvard University and its affiliates and Mass General Brigham and its affiliates was $0.1 million at both June 30, 2022 and December 31, 2021.

On May 26, 2022, the Company entered into an agreement with UltraDx Limited (UltraDx agreement), a new company formed by ARCH Venture Partners (ARCH). Pursuant to the UltraDx agreement, the Company will supply HD-X instruments (both fully assembled and disassembled) as well as assays and assay components to UltraDx, and UltraDx has the non-exclusive right to seek Chinese regulatory approval of and to commercialize the HD-X instrument and related assays in the Chinese neurological in vitro diagnostic market. The Company has determined that UltraDx is a related party because one of the Company’s directors is affiliated with ARCH and UltraDx. Pursuant to the terms of the UltraDx agreement, the Company shipped a total of ten fully assembled and disassembled HD-X instruments to UltraDx on June 30, 2022 at a purchase price of approximately $1.9 million. Due to the fact that UltraDx was recently formed during the second quarter of 2022, the Company will recognize revenue on these shipments upon receipt of payment.

Amounts from other related party relationships are immaterial. Collectively, at June 30, 2022 and December 31, 2021, the Company had no accounts receivable and $18 thousand in accounts receivable, respectively, from these other related parties. In addition, the Company had a total of $20 thousand and $6 thousand in accounts payable at June 30, 2022 and December 31, 2021, respectively, from these other related parties. In the three and six months ended June 30, 2022, the Company recorded cost of product revenue of $11 thousand and $20 thousand, respectively, cost of service and other revenue of $34 thousand and $87 thousand, respectively, research and development of $29 thousand and $61 thousand, respectively, and selling, general, and administrative of $8 thousand and $41 thousand, respectively, from these other related parties. In the three and six months ended June 30, 2021, the Company recorded service revenue of $4 thousand and $24 thousand, respectively, cost of product revenue of $23 thousand and $30 thousand, respectively, cost of service and other revenue of $34 thousand and $51 thousand, respectively, research and development of $40 thousand and $51 thousand, respectively, and selling, general, and administrative of $9 thousand and $23 thousand, respectively, in total from these other related parties.

Revenue recognition - Costs to obtain a contract (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Change in the balance of costs to obtain a contract
Balance at beginning of period	$ 440
Deferral of costs to obtain a contract	632
Recognition of costs to obtain a contract	(662)
Balance at end of period	$ 410