Veracyte (VCYT) 10-Q9 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2021	Nov. 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-36156
Entity Registrant Name	VERACYTE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5455398
Entity Address, Address Line One	6000 Shoreline Court
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	(650)
Local Phone Number	243-6300
Title of 12(b) Security	Common Stock, par value, $0.001 per share
Trading Symbol	VCYT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		71,043,062
Entity Central Index Key	0001384101
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 164,029	$ 349,364
Accounts receivable	40,309	18,461
Supplies	9,824	4,657
Prepaid expenses and other current assets	15,146	3,197
Total current assets	229,308	375,679
Property and equipment, net	14,868	8,990
Right-of-use assets, operating lease	16,001	7,843
Intangible assets, net	209,521	59,924
Goodwill	714,273	2,725
Restricted cash	749	603
Other assets	1,636	1,399
Total assets	1,186,356	457,163
Current liabilities:
Accounts payable	11,201	3,116
Accrued liabilities	29,044	11,705
Current portion of deferred revenue	3,440	371
Current portion of acquisition-related contingent consideration	2,646	0
Current portion of operating lease liability	3,465	1,589
Current portion of other liabilities	241	0
Total current liabilities	50,037	16,781
Long-term debt	1,075	810
Deferred revenue, net of current portion	552	829
Deferred tax liability	6,234	0
Acquisition-related contingent consideration, net of current portion	5,251	7,594
Operating lease liability, net of current portion	14,236	9,917
Other liabilities	1,891	0
Total liabilities	79,276	35,931
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2021 and December 31, 2020	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized, 71,032,336 and 58,200,526 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	71	58
Additional paid-in capital	1,461,778	702,768
Accumulated deficit	(346,629)	(281,594)
Accumulated other comprehensive loss	(8,140)	0
Total stockholders’ equity	1,107,080	421,232
Total liabilities and stockholders’ equity	$ 1,186,356	$ 457,163

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	71,032,336	58,200,526
Common stock, shares outstanding (in shares)	71,032,336	58,200,526

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Total revenue	$ 60,370	$ 31,121	$ 152,178	$ 82,947
Operating expenses:
Research and development	8,006	4,042	19,591	12,618
Selling and marketing	21,670	10,955	57,628	39,240
General and administrative	20,749	8,546	82,504	24,316
Intangible asset amortization	4,983	1,274	10,507	3,822
Total operating expenses	77,051	35,187	221,748	110,264
Loss from operations	(16,681)	(4,066)	(69,570)	(27,317)
Other income (loss), net	1,202	(58)	(762)	452
Loss before income tax benefit	(15,479)	(4,124)	(70,332)	(26,865)
Income tax benefit	(1,350)	0	(5,297)	0
Net loss	$ (14,129)	$ (4,124)	$ (65,035)	$ (26,865)
Net loss per common share, basic (in USD per share)	$ (0.20)	$ (0.08)	$ (0.97)	$ (0.52)
Net loss per common share, diluted (in USD per share)	$ (0.20)	$ (0.08)	$ (0.97)	$ (0.52)
Shares used to compute net loss per common share, basic (in shares)	69,743,733	54,858,052	66,820,654	51,632,750
Shares used to compute net loss per common share, diluted (in shares)	69,743,733	54,858,052	66,820,654	51,632,750
Testing
Revenue:
Total revenue	$ 50,897	$ 28,270	$ 134,768	$ 70,473
Operating expenses:
Cost of revenue	16,073	9,118	42,494	26,157
Product
Revenue:
Total revenue	2,959	2,027	8,706	7,149
Operating expenses:
Cost of revenue	1,491	1,048	4,304	3,539
Biopharmaceutical and other
Revenue:
Total revenue	6,514	824	8,704	5,325
Operating expenses:
Cost of revenue	$ 4,079	$ 204	$ 4,720	$ 572

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (14,129)	$ (4,124)	$ (65,035)	$ (26,865)
Other comprehensive loss:
Change in currency translation adjustments	(8,140)	0	(8,140)	0
Comprehensive loss	$ (22,269)	$ (4,124)	$ (73,175)	$ (26,865)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Shares outstanding at beginning of period (in shares) at Dec. 31, 2019		49,625
Stockholders' equity at beginning of period at Dec. 31, 2019	$ 239,455	$ 50	$ 486,090	$ (246,685)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of common stock in a public offering, net of offering costs (in shares)		6,900
Sale of common stock in a public offering, net of offering costs	193,831	$ 7	193,824
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		1,187
Issuance of common stock on exercise of stock options and vesting of restricted stock units	8,074	$ 1	8,073
Issuance of common stock under ESPP (in shares)		102
Issuance of common stock under employee stock purchase plan (ESPP)	2,037		2,037
Tax portion of vested restricted stock units	(3,161)		(3,161)
Stock-based compensation expense (employee)	8,591		8,591
Stock-based compensation expense (non-employee)	35		35
Stock-based compensation expense (ESPP)	728		728
Net loss	(26,865)			(26,865)
Other comprehensive loss	(26,865)			(26,865)
Shares outstanding at end of period (in shares) at Sep. 30, 2020		57,814
Stockholders' equity at end of period at Sep. 30, 2020	422,725	$ 58	696,217	(273,550)
Shares outstanding at beginning of period (in shares) at Jun. 30, 2020		50,446
Stockholders' equity at beginning of period at Jun. 30, 2020	226,147	$ 50	495,523	(269,426)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of common stock in a public offering, net of offering costs (in shares)		6,900
Sale of common stock in a public offering, net of offering costs	193,831	$ 7	193,824
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		427
Issuance of common stock on exercise of stock options and vesting of restricted stock units	3,329	$ 1	3,328
Issuance of common stock under ESPP (in shares)		41
Issuance of common stock under employee stock purchase plan (ESPP)	935		935
Tax portion of vested restricted stock units	(483)		(483)
Stock-based compensation expense (employee)	3,032		3,032
Stock-based compensation expense (non-employee)	15		15
Stock-based compensation expense (ESPP)	43		43
Net loss	(4,124)			(4,124)
Other comprehensive loss	(4,124)			(4,124)
Shares outstanding at end of period (in shares) at Sep. 30, 2020		57,814
Stockholders' equity at end of period at Sep. 30, 2020	422,725	$ 58	696,217	(273,550)
Shares outstanding at beginning of period (in shares) at Dec. 31, 2020		58,201
Stockholders' equity at beginning of period at Dec. 31, 2020	421,232	$ 58	702,768	(281,594)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of common stock in a public offering, net of offering costs (in shares)		8,547
Sale of common stock in a public offering, net of offering costs	593,821	$ 9	593,812
Issuance of common stock for acquisition (in shares)		3,347
Issuance of common stock for acquisition	147,089	$ 3	147,086
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		856
Issuance of common stock on exercise of stock options and vesting of restricted stock units	8,280	$ 1	8,279
Issuance of common stock under ESPP (in shares)		81
Issuance of common stock under employee stock purchase plan (ESPP)	2,353		2,353
Tax portion of vested restricted stock units	(8,307)		(8,307)
Stock-based compensation expense (employee)	14,687		14,687
Stock-based compensation expense (non-employee)	45		45
Stock-based compensation expense (ESPP)	1,055		1,055
Net loss	(65,035)			(65,035)
Other comprehensive loss	(8,140)				(8,140)
Shares outstanding at end of period (in shares) at Sep. 30, 2021		71,032
Stockholders' equity at end of period at Sep. 30, 2021	1,107,080	$ 71	1,461,778	(346,629)	(8,140)
Shares outstanding at beginning of period (in shares) at Jun. 30, 2021		67,472
Stockholders' equity at beginning of period at Jun. 30, 2021	971,177	$ 67	1,303,610	(332,500)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for acquisition (in shares)		3,347
Issuance of common stock for acquisition	147,089	$ 3	147,086
Issuance of common stock on exercise of stock options and vesting of restricted stock units (in shares)		181
Issuance of common stock on exercise of stock options and vesting of restricted stock units	2,844	$ 1	2,843
Issuance of common stock under ESPP (in shares)		32
Issuance of common stock under employee stock purchase plan (ESPP)	1,195		1,195
Tax portion of vested restricted stock units	(824)		(824)
Stock-based compensation expense (employee)	7,359		7,359
Stock-based compensation expense (non-employee)	15		15
Stock-based compensation expense (ESPP)	494		494
Net loss	(14,129)			(14,129)
Other comprehensive loss	(8,140)				(8,140)
Shares outstanding at end of period (in shares) at Sep. 30, 2021		71,032
Stockholders' equity at end of period at Sep. 30, 2021	$ 1,107,080	$ 71	$ 1,461,778	$ (346,629)	$ (8,140)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Issuance costs	$ 13,169	$ 38,677	$ 13,169

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Operating activities
Net loss	$ (14,129)	$ (4,124)	$ (65,035)	$ (26,865)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			13,189	5,919
Stock-based compensation			15,787	9,354
Benefit from income taxes			(5,297)	0
Interest on end-of-term debt obligation			161	162
Write-down of excess supplies			0	1,088
Noncash lease expense			1,566	714
Revaluation of acquisition-related contingent consideration			303	332
Effect of foreign currency on operations			1,601	(17)
Changes in operating assets and liabilities:
Accounts receivable			(6,285)	1,742
Supplies			4	1,262
Prepaid expenses and other current assets			(1,905)	(923)
Other assets			353	134
Operating lease liability			(1,710)	(1,040)
Accounts payable			3,872	(534)
Accrued liabilities and deferred revenue			3,329	(3,300)
Net cash used in operating activities			(40,067)	(11,972)
Investing activities
Acquisition of Decipher Biosciences, net of cash acquired			(574,411)	0
Acquisition of HalioDx, net of cash acquired			(163,645)	0
Proceeds from sale of equity securities			3,000	0
Purchase of equity securities			0	(1,000)
Purchases of property and equipment			(4,535)	(1,949)
Net cash used in investing activities			(739,591)	(2,949)
Financing activities
Proceeds from the issuance of common stock in a public offering, net of issuance costs			593,821	193,831
Payment of long-term debt			0	(100)
Payment of taxes on vested restricted stock units			(8,307)	(3,161)
Proceeds from the exercise of common stock options and employee stock purchases			10,633	10,114
Net cash provided by financing activities			596,147	200,684
(Decrease) increase in cash, cash equivalents and restricted cash			(183,511)	185,763
Effect of foreign currency on cash, cash equivalents and restricted cash			(1,678)	0
Net (decrease) increase in cash, cash equivalents and restricted cash			(185,189)	185,763
Cash, cash equivalents and restricted cash at beginning of period			349,967	159,920	$ 159,920
Cash, cash equivalents and restricted cash at end of period	164,778	345,683	164,778	345,683	349,967
Supplementary cash flow information:
Purchases of property and equipment included in accounts payable and accrued liability			31	355
Interest paid on debt			9	3
Issuance of common stock for acquisition of HalioDx			147,089	0
Cash and cash equivalents	164,029		164,029		349,364
Restricted cash	749		749		603
Total cash, cash equivalents and restricted cash	$ 164,778	$ 345,683	$ 164,778	$ 345,683	$ 349,967

Organization, Description of Bu

Organization, Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Description of Business and Summary of Significant Accounting Policies	Organization, Description of Business and Summary of Significant Accounting Policies Veracyte, Inc., or Veracyte, or the Company, is a global diagnostics company that improves patient care by answering important clinical questions to inform diagnosis and treatment decisions throughout the patient journey in cancer and other diseases. The Company’s growing menu of tests leverage advances in genomic science and machine learning technology to change care for patients, enabling them to avoid unnecessary and potentially harmful procedures and interventions, and accelerate time to more appropriate treatment. In addition to making its tests available in the United States through its central laboratories, the Company believes its exclusive access to the nCounter Analysis System, a best-in-class diagnostics platform, positions the company to deliver its tests to patients worldwide through laboratories and hospitals that can perform them locally. In August 2021, Veracyte acquired HalioDx SAS, giving Veracyte the ability to manufacture its own in vitro diagnostic tests for use on the nCounter, while also deepening Veracyte’s scientific capabilities into immuno-oncology and expanding its presence into eight of the ten most common cancers by incidence in the United States that impact patients globally. Veracyte was incorporated in the state of Delaware on August 15, 2006, as Calderome, Inc. Calderome operated as an incubator until early 2008. On March 4, 2008, the Company changed its name to Veracyte, Inc. The Company’s headquarters are in South San Francisco, California, and it also has operations in San Diego, California; Austin, Texas; Richmond, Virginia; Vancouver, Canada; and Marseille, France. It performs diagnostic testing in its Clinical Laboratory Improvement Amendments of 1988, or CLIA, certified laboratories in South San Francisco, San Diego, Austin, Richmond and Marseille. Veracyte’s foundational approach for its tests, or classifiers, begins with determining what clinical questions need to be answered in order to inform what happens next for the patient. The Company deploys rigorous science and technology to develop and validate its tests and collects extensive clinical utility data to demonstrate the tests’ ability to influence care. This approach has enabled the Company to obtain Medicare reimbursement for its genomic classifiers in each of its clinical indications. The Company positions its tests to integrate seamlessly into the way physicians currently evaluate patients, to facilitate adoption. Veracyte currently offers genomic tests, which it believes are changing patient care in lung cancer (Percepta); prostate and bladder urologic cancers (Decipher); thyroid cancer (Afirma); breast cancer (Prosigna); and interstitial lung diseases, or ILD, including idiopathic pulmonary fibrosis, or IPF (Envisia). The Company’s genomic classifiers in each of these indications are covered by Medicare. Additionally, through its acquisition of HalioDx, the Company also offers a clinically validated immuno-oncology test in colon cancer (Immunoscore). The Company performs its genomic tests for thyroid cancer, lung cancer and IPF in its CLIA-certified laboratory in South San Francisco, California, and its genomic tests for prostate and bladder cancer in its College of American Pathologists, or CAP, accredited and CLIA-certified laboratory in San Diego, California. In 2019, the Company acquired from NanoString, Inc. the exclusive global diagnostics license to the nCounter Analysis System and the Prosigna Breast Cancer Prognostic Gene Signature Assay, which is commercially available, along with the LymphMark lymphoma subtyping assay, which is in development for use as a companion diagnostic with Acerta Pharma’s and AstraZeneca’s Calquence. Both tests are designed for use on the nCounter Analysis System. The Prosigna test kits and associated products are sold to laboratories and hospitals globally. Additionally, the Company’s Immunoscore Colon Cancer test is performed in Veracyte’s CLIA-certified laboratories in Marseille, France, and Richmond, Virginia. Veracyte’s scientific approach and capabilities in genomics and immuno-oncology also provide multiple opportunities for partnerships with biopharmaceutical and diagnostic testing companies. In developing and commercializing its products, the Company has built or gained access to unique data and sample biorepositories, and proprietary technology and bioinformatics that it believes are important to the development of new targeted therapies, determining clinical trial eligibility and guiding treatment selection. On August 2, 2021, Veracyte acquired HalioDx SAS, a French société par actions simplifiée, or HalioDx, an immuno-oncology diagnostics company providing oncologists and drug development organizations with diagnostic products and biopharmaceutical services to guide cancer care and contribute to precision medicine. Veracyte believes the acquisition provides three strategic benefits to the company: 1.) it provides Veracyte with the expertise to develop and manufacture IVD test kits for the nCounter diagnostics platform; 2.) it deepens the company’s scientific capabilities into immuno-oncology; and 3.) it expands Veracyte’s cancer diagnostic scope to eight of the top 10 cancers by U.S. incidence. Veracyte paid $321 million in total consideration to HalioDx security holders, consisting of $170 million in cash, $147 million in stock and $4 million in incurred liabilities. Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of September 30, 2021 the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020, the condensed consolidated statements of comprehensive loss for the three and nine months ended September 30, 2021 and 2020, the condensed consolidated statements of stockholders' equity for the three and nine months ended September 30, 2021 and 2020, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of its financial position, operating results, stockholders' equity and cash flows for the periods presented. The condensed consolidated balance sheet as of December 31, 2020 has been derived from audited financial statements. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full year or any other period. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company operates in one segment. The accompanying interim period condensed consolidated financial statements and related financial information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Use of Estimates The preparation of unaudited interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Items subject to such estimates include: revenue recognition; write-down of supplies; the useful lives of property and equipment; the recoverability of long-lived assets; the incremental borrowing rate for leases; accounting for acquisitions; the estimation of the fair value of intangible assets and contingent consideration; stock options; income tax uncertainties, including a valuation allowance for deferred tax assets; an allowance for credit losses and contingencies. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and assumptions. Issuance of Common Stock in a Public Offering On February 9, 2021, the Company issued and sold 8,547,297 shares of common stock in a registered public offering, including 1,114,864 shares issued and sold upon the underwriters’ exercise in full of their option to purchase additional shares, at a price to the public of $74.00 per share. The Company's net proceeds from the offering were approximately $593.8 million, after deducting underwriting discounts and commissions and offering expenses of $38.7 million. Cash and Cash Equivalents The Company considers demand deposits in a bank, money market funds and highly liquid investments with an original maturity of 90 days or less to be cash equivalents. Concentrations of Credit Risk and Other Risks and Uncertainties The worldwide spread of coronavirus, or COVID-19, has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect the spread of COVID-19 as a global pandemic may have. As a result, the ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. If the financial markets or the overall economy are impacted for an extended period, the Company’s liquidity, revenues, supplies, goodwill and intangibles may be adversely affected. The Company considers the effects, to the extent knowable, of the COVID-19 pandemic in developing our estimates. The majority of the Company’s cash and cash equivalents are deposited with one major financial institution in the United States. Deposits in this institution may exceed the amount of insurance provided on such deposits. The Company has not realized any losses on its deposits of cash and cash equivalents other than exchange rate losses related to foreign currency denominated accounts. Several of the components of the Company’s sample collection kits and test reagents, and the nCounter system and related diagnostic kits are obtained from single-source suppliers. If these single-source suppliers fail to satisfy the Company’s requirements on a timely basis, it could suffer delays in being able to deliver its diagnostic solutions, suffer a possible loss of revenue, or incur higher costs, any of which could adversely affect its operating results. Through September 30, 2021, most of the Company’s revenue has been derived from the sale of Afirma and Decipher testing. To date, Afirma and Decipher testing have been delivered primarily to physicians in the United States. The Company is also subject to credit risk from its accounts receivable related to its sales. Credit risk for accounts receivable from testing revenue is incorporated in testing revenue accrual rates as the Company assesses historical collection rates and current developments to determine accrual rates and amounts the Company will ultimately collect. The Company generally does not perform evaluations of customers’ financial condition for testing revenue and generally does not require collateral. The Company assesses credit risk and the amount of accounts receivable the Company will ultimately collect for product, biopharmaceutical and collaboration revenue based on collection history, current developments and credit worthiness of the customer. The estimate of credit losses is not material at September 30, 2021. The Company’s third-party payers and other customers in excess of 10% of total revenue and their related revenue as a percentage of total revenue were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Medicare 31 % 25 % 31 % 24 % UnitedHealthcare 9 % 11 % 10 % 11 % 40 % 36 % 41 % 35 % The Company’s third-party payers and other customers in excess of 10% of accounts receivable and their related accounts receivable balance as a percentage of total accounts receivable were as follows at the following dates: September 30, 2021 December 31, 2020 Medicare 11 % 13 % UnitedHealthcare 9 % 12 % Restricted Cash The Company had deposits of $749,000 and $603,000 included in long-term assets as of September 30, 2021 and December 31, 2020, respectively, restricted from withdrawal and held by banks in the form of collateral for irrevocable standby letters of credit held as security for the Company's leases. Revenue Recognition Testing Revenue The Company recognizes testing revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers , or ASC 606. The Company bills for testing services at the time of test completion as defined by the delivery of test results. The Company recognizes revenue based on estimates of the amount that will ultimately be realized. In determining the amount to accrue for a delivered test, the Company considers factors such as payment history, payer coverage, whether there is a reimbursement contract between the payer and the Company, payment as a percentage of agreed upon rate (if applicable), amount paid per test and any current developments or changes that could impact reimbursement. These estimates require significant judgment by management. Actual results could differ from those estimates and assumptions. During 2021, the Company changed its revenue estimates due to actual and anticipated cash collections for tests delivered in prior quarters and recognized additional revenue of $0.5 million and $0.9 million for the three and nine months ended September 30, 2021, respectively. These adjustments resulted in decreases in the Company's loss from operations of $0.5 million and $0.9 million for the three and nine months ended September 30, 2021, respectively. These adjustments resulted in a decrease in basic and diluted net loss per share of $0.01 for each of the three and nine months ended September 30, 2021. During 2020, the Company changed its revenue estimates due to actual and anticipated cash collections for tests delivered in prior quarters and recognized additional revenue of $0.3 million and $1.2 million for the three and nine months ended September 30, 2020, respectively. These adjustments resulted in decreases in the Company's loss from operations of $0.3 million and $1.2 million and a decrease in basic and diluted net loss per share of zero and $0.02 for the three and nine months ended September 30, 2020, respectively. Product Revenue Product revenue from instruments and diagnostic kits is recognized generally upon shipment or when the instrument is ready for use by the end customer. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has transferred control of a product to the customer, meaning the customer has the ability to use and obtain the benefit of the product. The Company recognizes product revenue for satisfied performance obligations only when there are no uncertainties regarding payment terms or transfer of control. Shipping and handling costs incurred for product shipments are included in product revenue. Revenues are presented net of the taxes that are collected from customers and remitted to governmental authorities. There was no revenue from instrument sales for nine months ended September 30, 2021 or 2020. Biopharmaceutical and Other Revenue The Company enters into arrangements for research and development, commercialization, contract manufacturing and contract testing services. Such arrangements may require the Company to deliver various rights, manufactured diagnostic test kits, services and/or samples, including intellectual property rights/licenses, research and development services, and/or commercialization services. The underlying terms of these arrangements generally provide for consideration to the Company in the form of nonrefundable upfront license fees; payments on delivery of data, test results or manufactured products; costs of service plus margin; development and commercial performance milestone payments; royalty payments; and/or profit sharing. Net sales of data or other services to customers are recognized in accordance with ASC 606 and are classified under biopharmaceutical and other revenue. Milestone payments which fall under the scope of ASC Topic 808, Collaborative Arrangements , or ASC 808, are classified under collaboration revenue. Payments received that are not related to sales or services to a customer or collaboration revenue are recorded as offsets against research and development expense or cost of biopharmaceutical and other revenue in the Company's condensed consolidated statements of operations. In arrangements involving more than one good or service, each required good or service is evaluated to determine whether it qualifies as a distinct performance obligation based on whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available and (ii) the good or service is separately identifiable from other promises in the contract. The consideration under the arrangement is then allocated to each separate distinct performance obligation based on its respective relative stand-alone selling price. The estimated selling price of each deliverable reflects the Company's best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis or using an adjusted market assessment approach if selling price on a stand-alone basis is not available. The consideration allocated to each distinct performance obligation is recognized as revenue when control is transferred which may be at a point in time or over time. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not occur. Should there be royalties, the Company utilizes the sales and usage-based royalty exception in arrangements that resulted from the license of intellectual property, recognizing revenues generated from royalties or profit sharing as the underlying sales occur. As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may include such estimates as independent evidence of market price, forecasted revenues or costs, development timelines, discount rates, and probabilities of technical and regulatory success. The Company evaluates each performance obligation to determine if they can be satisfied at a point in time or over time, and it measures the services delivered to the collaborative partner which are periodically reviewed based on the progress of the related program. The effect of any change made to an estimated input component and, therefore revenue or expense recognized, would be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. Up-front Fees: If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from the transaction price allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. Milestone Payments: At the inception of each arrangement that includes milestone payments (variable consideration), the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within either party’s control, such as non-operational developmental and regulatory approvals, are generally not considered probable of being achieved until those approvals are received. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones that are within either party’s control, such as operational developmental milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. Revisions to the Company’s estimate of the transaction price may also result in negative revenues and earnings in the period of adjustment. Accounts receivable from biopharmaceutical and other revenue was $9.2 million at September 30, 2021 and $0.4 million at December 31, 2020. There was $4.0 million and $1.0 million of deferred revenue related to these agreements at September 30, 2021 and December 31, 2020, respectively. Revenues included in biopharmaceutical and other revenue for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Development services $ 3,849 $ 549 $ 5,242 $ 1,780 Provision of data 1,392 275 1,839 1,545 Milestones — — 350 1,000 Development rights — — — 1,000 Contract manufacturing 1,221 — 1,221 — Contract testing 52 — 52 — Total $ 6,514 $ 824 $ 8,704 $ 5,325 Diagnostic Development Agreement with Johnson & Johnson The Company has entered into contracts with the Lung Cancer Initiative at Johnson & Johnson to cooperate on the development of clinical data, to provide data generated by the Company and to license the right to use data under the Company's intellectual property rights. Under the terms of the agreements, the Company will provide data in exchange for up to $18.0 million in payments from Johnson & Johnson. The Company is also entitled to additional payments of up to $13.0 million, conditioned upon the achievement of certain milestones. The agreements are considered to be within the scope of ASC 808 with respect to the milestone payments, as the parties are active participants and exposed to the risks and rewards of the collaborative activity. The delivery of data under the collaborative arrangement, which the Company believes is a distinct service for which Johnson & Johnson meets the definition of a customer is within the scope of ASC 606. Using the concepts of ASC 606, the Company has identified the delivery of data as its only performance obligation. The grant of the license is not distinct from other performance obligations as the customer receives benefit only when other performance obligations are met. The Company further determined that the transaction prices under the arrangements are the $18.0 million in payments which was allocated to the obligation to deliver data. The $13.0 million in future potential payments is considered variable consideration because the Company determined that the potential payments are contingent upon regulatory, development and commercialization milestones that are uncertain to occur and, as such, were not included in the transaction price, and will be recognized accordingly as each potential payment becomes probable. For the three and nine months ended September 30, 2021, the Company recognized $0.1 million and $0.4 million, respectively, of revenue under these contracts, which is included in biopharmaceutical and other revenue. For the three and nine months ended September 30, 2020, the Company recognized $0.3 million and $1.9 million, respectively, of revenue under these contracts. Accounts receivable from Johnson & Johnson related to these contracts was $0.1 million at September 30, 2021 and zero at December 31, 2020. There was $1.1 million and $1.0 million of deferred revenue related to these agreements at September 30, 2021 and December 31, 2020, respectively. Cost of Testing Revenue The components of our cost of testing services are laboratory expenses, sample collection expenses, compensation expense, license fees and royalties, depreciation and amortization, other expenses such as equipment and laboratory supplies, and allocations of facility and information technology expenses. Costs associated with performing tests are expensed as the test is processed regardless of whether and when revenue is recognized with respect to that test. Cost of Product Revenue Cost of product revenue consists primarily of costs of purchasing instruments and diagnostic kits from third -party contract manufacturers, installation, service and packaging and delivery costs. In addition, cost of product includes royalty costs for licensed technologies included in the Company’s products and labor expenses. Cost of product revenue for instruments and diagnostic kits is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product in the condensed consolidated statements of operations. Cost of Biopharmaceutical and Other Revenue Cost of biopharmaceutical and other revenue consists of costs of performing activities under arrangements that require the Company to perform research and development, commercialization, contract manufacturing and contract testing services on behalf of a customer. French Research Tax Credits The French research tax credits (“crédit d’impôt recherche” or “CIR”) is generated by the Company’s wholly owned subsidiary, HalioDx, in connection with its research efforts performed in Marseille, France. The Company recognizes other income from the CIR over time based on when the research and development expenses are incurred and includes the CIR in prepaids and other current assets on the condensed consolidated balance sheets. Foreign Currency Translation The functional currency of the Company’s foreign subsidiary HalioDx is the Euro. Assets and liabilities denominated in foreign currencies are translated to U.S. dollars using the exchange rates at the balance sheet date. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity. Revenues and expenses from the Company’s foreign subsidiaries are translated using the monthly average exchange rates in effect during the period in which the transactions occur. Foreign currency transaction gains and losses are recorded in other (loss) income, net, on the condensed consolidated statements of operations. Pension Liability The Company offers a defined benefit pension plan Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. This ASU removes the following exceptions: (1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; (3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and (4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this ASU also improve consistency and simplify other areas of Topic 740 by clarifying and amending existing guidance. The revised guidance will be applied prospectively and became effective for the Company beginning January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on our condensed consolidated financial statements.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
Net Loss Per Common Share	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Common Share	Net Loss Per Common Share Basic net loss per common share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury stock method. The following outstanding common stock equivalents have been excluded from diluted net loss per common share because their inclusion would be anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Shares of common stock subject to outstanding options 3,668,179 4,492,414 3,817,351 4,691,424 Employee stock purchase plan 14,445 15,673 16,686 20,151 Restricted stock units 1,246,888 891,087 1,011,466 929,968 Total common stock equivalents 4,929,512 5,399,174 4,845,503 5,641,543

Balance Sheet Components

Balance Sheet Components	9 Months Ended
Balance Sheet Components	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components Goodwill The changes in the carrying amounts of goodwill were as follows (in thousands of dollars): Amounts Balance as of December 31, 2020 $ 2,725 Goodwill acquired - Decipher Biosciences 468,253 Goodwill acquired - HalioDx 249,612 Effect of foreign currency translation on Goodwill acquired - HalioDx (6,317) Balance as of September 30, 2021 $ 714,273 Intangible Assets, Net Intangible assets include finite-lived product technology, customer relationships, licenses and trade names and indefinite-lived in-process research and development. Intangible assets consisted of the following (in thousands of dollars): September 30, 2021 December 31, 2020 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Percepta product technology $ 16,000 $ (6,933) $ 9,067 $ 16,000 $ (6,133) $ 9,867 15 Prosigna product technology 4,120 (504) 3,616 4,120 (298) 3,822 15 Prosigna customer relationships 2,430 (891) 1,539 2,430 (526) 1,904 5 nCounter Dx license 46,880 (5,730) 41,150 46,880 (3,386) 43,494 15 LymphMark product technology 990 (259) 731 990 (153) 837 7 Decipher product technology 90,000 (4,984) 85,016 — — — 10 Decipher trade names 4,000 (443) 3,557 — — — 5 HalioDx developed technology 46,720 (772) 45,948 — — — 10 HalioDx customer relationships 4,985 (318) 4,667 — — — 6 HalioDx customer backlog 7,072 (142) 6,930 — — — 4 Total finite-lived intangibles 223,197 (20,976) 202,221 70,420 (10,496) 59,924 10.9 In-process research and development 7,300 — 7,300 — — — Total intangible assets $ 230,497 $ (20,976) $ 209,521 $ 70,420 $ (10,496) $ 59,924 Amortization of the finite-lived intangible assets is recognized on a straight-line basis. Amortization expense of $5.0 million and $1.3 million was recognized for the three months ended September 30, 2021 and 2020, respectively. Amortization expense of $10.5 million and $3.8 million was recognized for the nine months ended September 30, 2021 and 2020, respectively. The estimated future aggregate amortization expense as of September 30, 2021 is as follows (in thousands of dollars): Year Ending December 31, Amounts 2021 remainder of year $ 5,542 2022 22,165 2023 22,165 2024 22,125 2025 21,679 Thereafter 108,545 Total $ 202,221 Accrued Liabilities Accrued liabilities consisted of the following (in thousands of dollars): September 30, 2021 December 31, 2020 Accrued compensation expenses $ 22,628 $ 9,201 Accrued other 6,416 2,504 Total accrued liabilities $ 29,044 $ 11,705

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	Sep. 30, 2021
Business Combinations [Abstract]
Business Combinations	Business Combinations HalioDx On August 2, 2021, the Company acquired 100% of the equity interests (the "HalioDx Acquisition") of HalioDx SAS and 100% of the equity interest of HalioDx Inc., historically a wholly owned subsidiary of HalioDx SAS, (collectively referred to as “HalioDx”). HalioDx was a privately-held company providing immune-based diagnostic products and services. The consideration to acquire HalioDx was $320.9 million, comprised of $147.1 million in the form of 3.3 million shares of the Company’s common stock based on the Company's share price on the closing date, $4.2 million in liabilities, and the remainder in cash. The Company incurred $7.7 million of transaction costs related to the acquisition of HalioDx, which were recorded as general and administrative expense during the nine months ended September 30, 2021. In connection with the HalioDx Acquisition, 11,031 unvested HalioDx free ordinary share awards, or free shares, were modified to provide the Company the right to purchase the vested free shares (call option) from the holders and the holders the right to sell the vested free shares to the Company (put option) from time to time through late 2023. As a result of the call and put options, the free shares are liability classified with an initial fair value of $5.1 million, based on the expected settlement amount. As the free shares require the holders to continue to provide services post-combination, the Company included $3.5 million, attributed to pre-combination services, in the purchase price and the remainder will be recorded in post-combination compensation expense, which will be recognized over the period the holders provide services to the Company. Additionally, in connection with the HalioDx Acquisition, all of HalioDx's equity-classified options that were outstanding prior to the HalioDx Acquisition were terminated and cancelled at the acquisition date. The Company paid holders of vested options cash consideration of $0.4 million and as the payment is related to pre-combination services, the amount was included in the purchase price. The Company also committed to pay cash consideration of $1.5 million to holders of unvested options on the date the employee satisfies the original service requirement. As this payment requires continuing services and is forfeited if the holders' employment is terminated, the amount was considered nonrecurring post-combination compensation expense and will be recognized over the remaining service period. As part of the agreement, the Company held back $16.8 million of the cash consideration, or the holdback, which will be payable to the founders of HalioDx based on their continuous employment with the Company. Fifty percent of the holdback will be placed in escrow on the founders' behalf on the first anniversary of the closing date and the remainder will be paid directly to the founders on the second anniversary. As this payment is dependent on the founders’ continuing employment and is forfeited if the employment is terminated, the holdback is not included in the purchase price and will be recognized as post-combination compensation expense over the two-year service period. For both the three months and nine months ended September 30, 2021, the Company recognized post-combination expense of $1.6 million, of which $0.1 million was recorded as cost of revenue, $0.3 million was recorded as research and development, $0.5 million was recorded as sales and marketing, and the remainder was recorded as general and administrative. The Company included the financial results of HalioDx in its condensed consolidated financial statements from the acquisition date, which contributed $4.7 million and $6.3 million of revenue and operating loss, respectively, during both the three months and nine months ended September 30, 2021. The following table summarizes the purchase price and post-combination compensation expense as a part of the HalioDx Acquisition (in thousands): Purchase Price Post-Combination Compensation Expense Cash transferred $ 169,583 $ — Liabilities incurred 4,194 19,904 Common stock transferred 147,089 — Total $ 320,866 $ 19,904 Assets acquired and liabilities assumed are recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company. While the Company believes that its estimates and assumptions underlying the valuations are reasonable, different estimates and assumptions could result in different valuations assigned to the individual assets acquired and liabilities assumed, and the resulting amount of goodwill. The following table summarizes the fair values of assets acquired and liabilities assumed in the acquisition of HalioDx at the date of acquisition (in thousands): Cash and cash equivalents $ 5,938 Accounts receivable 10,793 Supplies inventory 3,610 Prepaids and other current assets 7,045 Property and equipment, net 2,716 Right-of-use assets, financing lease 733 Right-of-use assets, operating lease 2,136 Intangible assets 60,303 Other assets 524 Total identifiable assets acquired 93,798 Accounts payable (2,645) Accrued liabilities (5,628) Current portion of financing lease liability (245) Current portion of operating lease liability (448) Long-term debt (1,171) Deferred revenue (3,250) Financing lease liability, net of current portion (488) Operating lease liability, net of current portion (1,687) Deferred tax liability (6,982) Net identifiable assets acquired 71,254 Goodwill 249,612 Total purchase price $ 320,866 Based on the guidance provided in ASC 805, the Company accounted for the acquisition of HalioDx as a business combination in which the Company determined that HalioDx was a business which combines inputs and processes to create outputs, and substantially all of the fair value of gross assets acquired was not concentrated in a single identifiable asset or group of similar identifiable assets. The Company's purchase price allocation for the HalioDx Acquisition is preliminary and subject to revision as additional information about the fair value of the assets and liabilities becomes available. The fair values assigned to tangible and intangible assets acquired, and liabilities assumed, are based on management’s estimates and assumptions and may be subject to change as additional information is received. Primary areas that are not yet finalized are related to certain income tax items, intangible assets, deferred revenue, accounts receivable, other assets, commitments and contingencies and goodwill. Additional information that existed as of the closing date but not known at the time of this filing may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the closing date. The intangible assets acquired include three developed technology assets (related to diagnostics, biopharma, and contract IVD), two customer relationships assets (related to biopharma and contract IVD), and two customer backlog assets (related to biopharma and contract IVD). The fair value of our intangible assets acquired as of the acquisition date and the method used to value these assets as well as the estimated economic lives for amortizable intangible assets were as follows (in thousands, except estimated useful life which is in years): Fair value Estimated useful life Valuation method Developed technology – diagnostics $ 4,163 10 Multi-period excess earnings Developed technology – biopharma 42,224 10 Multi-period excess earnings Developed technology – contract IVD 1,546 10 Multi-period excess earnings Customer relationships – biopharma 2,141 7 With-and-without Customer relationships – contract IVD 2,973 5 With-and-without Customer backlog – biopharma 2,736 4 Multi-period excess earnings Customer backlog – contract IVD 4,520 4 Multi-period excess earnings Total $ 60,303 The amortization expense for all acquired intangible assets will be recognized on a straight-line basis and recorded within intangible asset amortization. Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. The HalioDx Acquisition resulted in the recognition of $249.6 million of goodwill which the Company believes consists primarily of expanded market and product opportunities, including new areas of testing, as well as the potential manufacturing of the Company's product offerings for international markets. Goodwill created as a result of the HalioDx Acquisition is not deductible for tax purposes. The HalioDx Acquisition allows the Company to continue to develop and further enhance its business as a global diagnostics company and continues the Company’s ability to inform the diagnosis and treatment decisions related to cancer. The HalioDx portfolio complements and expands the existing business and allows for vertical integration through the addition of manufacturing capabilities for the Company’s test kits. In connection with the HalioDx acquisition, a net deferred tax liability was assumed with a fair value of $7.0 million which primarily relates to future intangible asset amortization which is not deductible for income tax purposes. The Company also granted restricted stock units, or RSUs, to new employees who joined the Company in connection with the HalioDx Acquisition with a fair value of $16.5 million, net of estimated forfeitures. As the number of shares that are expected to be issued is fixed, the awards are equity-classified. The RSUs vest over four years, subject to the employees’ continuous service. During the three and nine months ended September 30, 2021, the Company recorded $2.6 million in stock-based compensation expense which includes $2.0 million related to one employee whose continuing services were deemed non-substantive. Decipher Biosciences On March 12, 2021, the Company acquired 100% of the equity interests of Decipher Biosciences, a privately-held company developing diagnostic tests in urologic cancers, for approximately $594.7 million, comprised of approximately $550.5 million in the form of upfront cash consideration and the remainder in cash payable post-acquisition of which $43.8 million was paid prior to June 30, 2021 (the "Decipher Acquisition"). The Company incurred approximately $10.6 million of transaction costs related to the acquisition of Decipher Biosciences which were recorded as general and administrative expense during the nine months ended September 30, 2021. In connection with the Decipher Acquisition, certain of Decipher Biosciences' equity awards that were outstanding and unvested prior to the Decipher Acquisition became fully vested per the terms of the merger agreement. The acceleration of vesting required the Company to allocate the fair value of the historical Decipher Biosciences’ employee stock awards attributable to pre-combination service to the purchase price and the remaining amount was considered the Company's nonrecurring post-combination expense. In March 2021, the Company recognized nonrecurring post-combination expense related to the acceleration and cash settlement of unvested historical Decipher Biosciences’ employee stock awards of $25.1 million, all of which was recorded as general and administrative expense during the quarter ended March 31, 2021. The Company included the financial results of Decipher Biosciences in its condensed consolidated financial statements from the acquisition date, which contributed $21.3 million and $5.4 million of revenue and operating income, respectively, during the three months ended September 30, 2021 and $44.0 million and $10.3 million of revenue and operating income, respectively, during the nine months ended September 30, 2021. The following table summarizes the purchase price and nonrecurring post-combination compensation expense recorded as a part of the Decipher Acquisition (in thousands): Purchase Price Nonrecurring Upfront cash consideration $ 550,515 $ 270 Liabilities incurred 44,179 24,809 Total $ 594,694 $ 25,079 Assets acquired and liabilities assumed are recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company. While the Company believes that its estimates and assumptions underlying the valuations are reasonable, different estimates and assumptions could result in different valuations assigned to the individual assets acquired and liabilities assumed, and the resulting amount of goodwill. The following table summarizes the fair values of assets acquired and liabilities assumed through the Company's acquisition of Decipher Biosciences at the date of acquisition (in thousands): Cash and cash equivalents $ 19,782 Accounts receivable 7,562 Supplies inventory 1,641 Prepaids and other current assets 778 Property and equipment, net 1,737 Right-of-use assets, operating lease 7,601 Finite-lived intangible assets 94,000 Indefinite-lived intangible assets 7,300 Restricted cash 146 Other assets 3,075 Total identifiable assets acquired 143,622 Accounts payable (2,351) Accrued liabilities (4,322) Operating lease obligations (current) (1,241) Operating lease obligations, net of current portion (4,540) Deferred tax liability (4,727) Net identifiable assets acquired 126,441 Goodwill 468,253 Total purchase price $ 594,694 Based on the guidance provided in ASC 805, the Company accounted for the acquisition of Decipher Biosciences as a business combination in which the Company determined that Decipher Biosciences was a business which combines inputs and processes to create outputs, and substantially all of the fair value of gross assets acquired was not concentrated in a single identifiable asset or group of similar identifiable assets. The Company's purchase price allocation for the Decipher Acquisition is preliminary and subject to revision as additional information about the fair value of the assets and liabilities becomes available. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions and may be subject to change as additional information is received. Primary areas that are not yet finalized are related to accounts receivable, and goodwill. Additional information that existed as of the closing date but not known at the time of this filing may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the closing date. During the nine months ended September 30, 2021, the Company recorded certain measurement period adjustments due to new information becoming available pertaining to the valuation of accounts receivable and certain other assets. These adjustments were recorded as decreases to goodwill and did not impact the condensed consolidated statement of operations. One of these adjustments relates to cash collections of accounts receivable that existed as of the acquisition date exceeding the initial fair value of accounts receivable recorded on the acquisition date by $1.8 million. The intangible assets acquired are two in-process research and development, or IPR&D, assets (Metastatic Hormone Sensitive Cancer and Castrate Resistant Cancer), developed technology, and trade names. Additionally, the Company identified certain off-market leases and an intangible asset of $1.8 million is included in operating lease assets which will be amortized over the remaining lease term. The estimated fair value of the IPR&D is determined using the multi-period excess earnings method which calculates the present value of the estimated revenues and net cash flows derived from the IPR&D once the technologies are developed. The IPR&D is not amortized until it becomes commercially viable and placed in service. At the time when the intangible assets are placed in service the Company will determine a useful life. The fair value of the finite-lived intangible assets was estimated as follows: (i) the developed technology of $90.0 million was based on a multi-period excess earnings method, and (ii) the trade names of $4.0 million was based on the relief from royalty method. The estimated useful life for the developed technology is 10 years, and the estimated useful life for the trade names is five years. The amortization expense related to finite-lived intangible assets is recorded within the intangible asset amortization financial statement line item. Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. The Decipher Acquisition resulted in the recognition of $468.3 million of goodwill which the Company believes consists primarily of expanded market and product opportunities, including new areas of genomic testing, as well as the potential expansion of the Company's product offerings in international markets. Furthermore, the acquisition of Decipher Biosciences bolsters the Company's presence to seven of the ten most common cancers impacting patients in the United States, which in turn enhances the Company’s overall prominence in the genomic testing arena. Goodwill created as a result of the Decipher Acquisition is not deductible for tax purposes. The Decipher Acquisition advances the Company's objective to improve the lives of patients through innovations in genomic technology tailored for diagnostic, prognostic, and treatment decisions related to urologic cancers. We recorded an income tax benefit primarily due to net deferred tax liabilities assumed in connection with the Decipher Acquisition, which provided a future source of income to support the realization of our deferred tax assets and resulted in a release of $3.5 million in the Company's valuation allowance. Supplemental Pro Forma Information (unaudited) The unaudited pro forma financial information in the table below summarizes the combined results of operations for Veracyte, Decipher and HalioDx as though the companies had been combined as of January 1, 2020. The pro forma amounts have been adjusted for: • day 1 expense related to the accelerated vesting of unvested legacy Decipher and HalioDx equity awards, • transaction expenses incurred by Decipher, HalioDx and us, • lease expense resulting from the fair value adjustments to the operating lease obligation and operating lease asset for both Decipher and HalioDx, • depreciation expense resulting from the fair value adjustments to fixed asset for both Decipher and HalioDx, • amortization expense resulting from the acquired intangible assets for both Decipher and HalioDx, • the elimination of historical interest expense incurred on debt and debt-like items for both Decipher and HalioDx, • income tax benefits resulting from the deferred tax liabilities acquired related to Decipher, and • compensation expense recognized in relation to the equity awards granted in connection with both acquisitions. The following unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved as if the acquisitions had taken place as of January 1, 2020 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Total revenues $ 62,608 $ 47,402 $ 178,525 $ 124,863 Net Loss $ (7,672) $ (9,971) $ (27,858) $ (106,397) Related Party Transactions Members of Veracyte's board of directors, Dr. Tina S. Nova, Ph.D. and Dr. Robert S. Epstein, M.D., M.S., served on the board of directors of Decipher Biosciences prior to the acquisition of Decipher Biosciences, with Dr. Nova additionally serving as President and Chief Executive Officer of Decipher Biosciences. Pursuant to Veracyte's related party transactions policy, Dr. Nova and Dr. Epstein recused themselves from all discussions of its board of directors related to the Decipher Acquisition, and the Decipher Acquisition was approved by each of the non-interested members of the board of directors. In connection with the Decipher Acquisition, certain Decipher Biosciences equity awards held by Dr. Nova and Dr. Epstein were fully-accelerated and certain incentive bonus payments were made to Dr. Nova pursuant to a management incentive plan established by the Decipher Biosciences board of directors, resulting in payments of approximately $26.5 million and $1.4 million to each of them,

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company records its financial assets and liabilities at fair value. The carrying amounts of certain financial instruments of the Company, including cash and cash equivalents, prepaid expenses and other current assets, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The accounting guidance for fair value provides a framework for measuring fair value, clarifies the definition of fair value, and expands disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: • Level I: Inputs which include quoted prices in active markets for identical assets and liabilities; • Level II: Inputs other than Level I that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level III: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of the Company’s financial assets includes money market funds and deposits for leases of the Company's facilities. Money market funds, included in cash and cash equivalents in the accompanying condensed consolidated balance sheets, were $150.8 million and $346.8 million as of September 30, 2021 and December 31, 2020, respectively, and are Level I assets as described above. Included in prepaid expenses and other current assets as of September 30, 2021 were time deposits with a bank valued at amortized cost of $4.1 million, which approximates fair value, and are Level II assets as described above. The deposits for the leases, included in restricted cash in the accompanying condensed consolidated balance sheets, were $749,000 and $603,000 as of September 30, 2021 and December 31, 2020, respectively, and are a Level I assets as described above. On December 3, 2019, the Company acquired from NanoString the exclusive global diagnostics license to the nCounter Analysis System, the Prosigna breast cancer prognostic gene signature assay, and the LymphMark lymphoma subtyping assay. Pursuant to the terms of the agreement, Veracyte paid NanoString $40.0 million in cash and $10.0 million in Veracyte common stock, and may pay up to an additional $10.0 million in cash, contingent upon the commercial launch of Veracyte diagnostic tests for use on the platform. This contingency was valued at $6.1 million as of the acquisition date and is remeasured to fair value at each reporting date until the contingent consideration is settled. As of September 30, 2021 and December 31, 2020, this contingency was remeasured to $7.9 million and $7.6 million, respectively, with the corresponding changes included in general and administrative expense in the Company's condensed consolidated statements of operations. As of September 30, 2021, the achievement of one of the milestones is forecasted to occur within the next 12 months. As a result, $2.6 million of the contingent consideration is included in short term liabilities at September 30, 2021. The fair value of the contingent consideration includes inputs that are not observable in the market and thus represents a Level III financial liability. The estimation of the fair value of the contingent consideration is based on the present value of the expected payments calculated by assessing the likelihood of when the related milestones would be achieved and estimating the Company's borrowing rate. These estimates form the basis for making judgments about the carrying value of the contingent consideration that are not readily apparent from other sources. Changes to the forecasts for the achievement of the milestones and the borrowing rate can significantly affect the estimated fair value of the contingent consideration. As of September 30, 2021 and December 31, 2020, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs: Value or Range (Weighted-Average) Unobservable input September 30, 2021 December 31, 2020 Discount rate 5.7% 6.9% Probability of achievement 80% - 100% (88%) 70% - 100% (86%)

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company leases office and laboratory facilities in South San Francisco and San Diego, California, Austin, Texas, Marseille, France, and Richmond, Virginia, and leases certain equipment under various non-cancelable lease agreements. The lease terms extend to January 2029 and contain extension of lease term and expansion options. The leases have a weighted average remaining lease term of 5.2 years as of September 30, 2021. The Company had deposits of $749,000 and $603,000 included in long-term assets as of September 30, 2021, and December 31, 2020, respectively, restricted from withdrawal and held by banks in the form of collateral for irrevocable standby letters of credit held as security for the leases. The Company determined its operating lease liabilities using payments through their current expiration dates and a weighted average discount rate of 6.5% based on the rate that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments in a similar economic environment. Operating lease liabilities along with the associated right-of-use assets are disclosed in the accompanying condensed consolidated balance sheets. After the adoption of ASC 842, Leases , or ASC 842, the Company classified its deferred rent for tenant improvements with its operating lease right-of-use assets on the consolidated balance sheets. In connection with the acquisition of Decipher Biosciences, the Company identified certain off-market rate leases and has estimated an intangible asset of $1.8 million which is included in operating lease assets and will be amortized over the remaining lease term. See Note 4 for more information on the acquisition of Decipher Biosciences. Future minimum lease payments under non-cancelable operating leases as of September 30, 2021 are as follows (in thousands of dollars): Year Ending December 31, Amounts Remainder of 2021 $ 1,042 2022 4,226 2023 4,296 2024 4,310 2025 4,380 Thereafter 2,487 Total future minimum lease payments 20,741 Less: amount representing interest 3,040 Present value of future lease payments 17,701 Less: short-term lease liabilities 3,465 Long-term lease liabilities $ 14,236 The Company recognizes operating lease expense on a straight-line basis over the non-cancelable lease period. The following table summarizes operating lease expense and cash paid for amounts included in the measurement of lease liabilities (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Operating lease expense $ 982 $ 472 $ 2,460 $ 1,417 Cash paid for amounts included in the measurement of lease liabilities $ 1,011 $ 587 $ 2,518 $ 1,744 The company has leased laboratory equipment under various financing leases. The total right-of-use assets and total financing lease liabilities for these financing leases were each $0.7 million as of September 30, 2021, and are included in property and equipment, net other liabilities As of September 30, 2021, the Company’s wholly owned foreign subsidiary has entered into an arrangement under which it expects to sign a lease agreement for facilities which will be constructed in Marseille, France. The lease will commence upon completion of the construction of the office building which the Company currently expects to occur in the fourth quarter of 2023. The initial term of the lease will be twelve years with annual rent of approximately $1.4 million, which is subject to change based on final construction. Contingencies From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business. The Company assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in its condensed consolidated financial statements. An estimated loss contingency is accrued in the financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company believes there are no legal proceedings pending that could have, either individually or in the aggregate, a material adverse effect on the Company’s condensed consolidated financial statements.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Loan and Security Agreement On November 3, 2017, the Company entered into a loan and security agreement, or Loan and Security Agreement, with Silicon Valley Bank. The Loan and Security Agreement allows the Company to borrow up to $35.0 million, with a $25.0 million advance term loan, or Term Loan Advance, and a revolving line of credit of up to $10.0 million, or Revolving Line of Credit. The Term Loan Advance was advanced upon the closing of the Loan and Security Agreement and was used to pay the outstanding balance of the Company’s existing long-term debt, which was canceled at that date. The Company had not drawn on the Revolving Line of Credit as of September 30, 2021. Borrowings under the Loan and Security Agreement mature on October 1, 2022. Amounts may be borrowed and repaid under the Revolving Line of Credit up until the earliest of full repayment or maturity of the Loan and Security Agreement, termination of the Loan and Security Agreement, or October 1, 2022. The Term Loan Advance bears interest at a variable rate equal to (i) the thirty-day U.S. London Interbank Offer Rate, or LIBOR, plus (ii) 4.20%, with a minimum rate of 5.43% per annum. Principal amounts outstanding under the Revolving Line of Credit bear interest at a variable rate equal to (i) LIBOR plus (ii) 3.50%, with a minimum rate of 4.70% per annum. The Company may prepay the outstanding principal amount under the Term Loan Advance plus accrued and unpaid interest and, if the Term Loan Advance is repaid in full, a prepayment premium of $250,000. In 2019 and 2020, the Company prepaid $24.9 million and $0.1 million, respectively, of the principal amount of the Term Loan Advance. These prepayments did not trigger any prepayment premium because they were partial, not full, repayments of the principal amount. If the Loan and Security Agreement is terminated before maturity, then a termination fee equal to 1% of the Revolving Line of Credit, or $0.1 million, will be due. In addition, a final payment on the Term Loan Advance in the amount of $1.2 million is due upon the earlier of the maturity date of the Term Loan Advance or its payment in full. The Loan and Security Agreement contains customary representations, warranties, and events of default, as well as affirmative and negative covenants. As of September 30, 2021, the Company was in compliance with the loan covenants. The Company’s obligations under the Loan and Security Agreement are secured by substantially all of its assets (excluding intellectual property), subject to certain customary exceptions. The debt obligation for borrowings made under the Loan and Security Agreement was as follows (in thousands of dollars): September 30, 2021 December 31, 2020 Debt principal $ — $ — End-of-term debt obligation 971 810 Total debt obligation $ 971 $ 810 As of September 30, 2021, the principal balance outstanding was one dollar. Future principal and end-of-term debt obligation payments under the Loan and Security Agreement are $1.2 million and due in 2022. As of September 30, 2021 and December 31, 2020, the accrued interest payable under the Loan and Security Agreement was immaterial. The end-of-term debt obligation accretes over the term of the Loan and Security Agreement until maturity and is included in interest expense in the Company's condensed consolidated statements of operations.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock The Company had reserved shares of common stock for issuance as follows: September 30, 2021 December 31, 2020 Stock options and restricted stock units issued and outstanding 4,961,248 4,867,303 Stock options and restricted stock units available for grant under stock option plans 4,439,910 3,061,589 Common stock available for the Employee Stock Purchase Plan 1,490,130 1,571,395 Total 10,891,288 9,500,287

Components of Other Income (Los

Components of Other Income (Loss)	9 Months Ended
Components of Other Income (Loss)	Sep. 30, 2021
Other Income and Expenses [Abstract]
Components of Other Income (Loss)	Components of Other Income (Loss) Other income (loss), net consists of the following (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 French research tax credits $ 419 $ — $ 419 $ — Interest income 27 3 46 21 Interest expense (61) (55) (177) (175) Gain (loss) on currency revaluation 708 (8) (1,159) 17 Other 109 2 109 589 $ 1,202 $ (58) $ (762) $ 452

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded an income tax benefit of approximately $1.4 million and $5.3 million for the three and nine months ended September 30, 2021, and no income tax provision or benefit for the three and nine months ended September 30, 2020. The income tax benefit for 2021 was primarily impacted by a discrete tax adjustment related to the release of certain valuation allowances on the Company's deferred tax assets upon recording of the deferred tax liabilities for the acquisition of Decipher Biosciences and a benefit on the current year loss of HalioDx, while 2020 had a full valuation allowance on all net deferred tax assets. On March 27, 2020, and on December 27, 2020, respectively, the Coronavirus Aid, Relief, and Economic Security Act and the Consolidated Appropriations Act were enacted in response to the COVID-19 pandemic. The Company does not expect the provisions of such legislation to have a significant impact on the effective tax rate, the results of operations or the financial position of the Company.

Organization, Description of _2

Organization, Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of September 30, 2021 the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020, the condensed consolidated statements of comprehensive loss for the three and nine months ended September 30, 2021 and 2020, the condensed consolidated statements of stockholders' equity for the three and nine months ended September 30, 2021 and 2020, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of its financial position, operating results, stockholders' equity and cash flows for the periods presented. The condensed consolidated balance sheet as of December 31, 2020 has been derived from audited financial statements. The results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results expected for the full year or any other period. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company operates in one segment. The accompanying interim period condensed consolidated financial statements and related financial information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of unaudited interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Items subject to such estimates include: revenue recognition; write-down of supplies; the useful lives of property and equipment; the recoverability of long-lived assets; the incremental borrowing rate for leases; accounting for acquisitions; the estimation of the fair value of intangible assets and contingent consideration; stock options; income tax uncertainties, including a valuation allowance for deferred tax assets; an allowance for credit losses and contingencies. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and assumptions.
Issuance of Common Stock in a Public Offering	Issuance of Common Stock in a Public Offering On February 9, 2021, the Company issued and sold 8,547,297 shares of common stock in a registered public offering, including 1,114,864 shares issued and sold upon the underwriters’ exercise in full of their option to purchase additional shares, at a price to the public of $74.00 per share. The Company's net proceeds from the offering were approximately $593.8 million, after deducting underwriting discounts and commissions and offering expenses of $38.7 million.
Cash and Cash Equivalents	Cash and Cash Equivalents
Concentrations of Credit Risk and Other Risks and Uncertainties	Concentrations of Credit Risk and Other Risks and Uncertainties The worldwide spread of coronavirus, or COVID-19, has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect the spread of COVID-19 as a global pandemic may have. As a result, the ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict. If the financial markets or the overall economy are impacted for an extended period, the Company’s liquidity, revenues, supplies, goodwill and intangibles may be adversely affected. The Company considers the effects, to the extent knowable, of the COVID-19 pandemic in developing our estimates. The majority of the Company’s cash and cash equivalents are deposited with one major financial institution in the United States. Deposits in this institution may exceed the amount of insurance provided on such deposits. The Company has not realized any losses on its deposits of cash and cash equivalents other than exchange rate losses related to foreign currency denominated accounts. Several of the components of the Company’s sample collection kits and test reagents, and the nCounter system and related diagnostic kits are obtained from single-source suppliers. If these single-source suppliers fail to satisfy the Company’s requirements on a timely basis, it could suffer delays in being able to deliver its diagnostic solutions, suffer a possible loss of revenue, or incur higher costs, any of which could adversely affect its operating results. Through September 30, 2021, most of the Company’s revenue has been derived from the sale of Afirma and Decipher testing. To date, Afirma and Decipher testing have been delivered primarily to physicians in the United States. The Company is also subject to credit risk from its accounts receivable related to its sales. Credit risk for accounts receivable from testing revenue is incorporated in testing revenue accrual rates as the Company assesses historical collection rates and current developments to determine accrual rates and amounts the Company will ultimately collect. The Company generally does not perform evaluations of customers’ financial condition for testing revenue and generally does not require collateral. The Company assesses credit risk and the amount of accounts receivable the Company will ultimately collect for product, biopharmaceutical and collaboration revenue based on collection history, current developments and credit worthiness of the customer. The estimate of credit losses is not material at September 30, 2021. The Company’s third-party payers and other customers in excess of 10% of total revenue and their related revenue as a percentage of total revenue were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Medicare 31 % 25 % 31 % 24 % UnitedHealthcare 9 % 11 % 10 % 11 % 40 % 36 % 41 % 35 % The Company’s third-party payers and other customers in excess of 10% of accounts receivable and their related accounts receivable balance as a percentage of total accounts receivable were as follows at the following dates: September 30, 2021 December 31, 2020 Medicare 11 % 13 % UnitedHealthcare 9 % 12 %
Restricted Cash	Restricted Cash
Revenue Recognition and Cost of Revenue	Revenue Recognition Testing Revenue The Company recognizes testing revenue in accordance with the provisions of ASC 606, Revenue from Contracts with Customers , or ASC 606. The Company bills for testing services at the time of test completion as defined by the delivery of test results. The Company recognizes revenue based on estimates of the amount that will ultimately be realized. In determining the amount to accrue for a delivered test, the Company considers factors such as payment history, payer coverage, whether there is a reimbursement contract between the payer and the Company, payment as a percentage of agreed upon rate (if applicable), amount paid per test and any current developments or changes that could impact reimbursement. These estimates require significant judgment by management. Actual results could differ from those estimates and assumptions. During 2021, the Company changed its revenue estimates due to actual and anticipated cash collections for tests delivered in prior quarters and recognized additional revenue of $0.5 million and $0.9 million for the three and nine months ended September 30, 2021, respectively. These adjustments resulted in decreases in the Company's loss from operations of $0.5 million and $0.9 million for the three and nine months ended September 30, 2021, respectively. These adjustments resulted in a decrease in basic and diluted net loss per share of $0.01 for each of the three and nine months ended September 30, 2021. During 2020, the Company changed its revenue estimates due to actual and anticipated cash collections for tests delivered in prior quarters and recognized additional revenue of $0.3 million and $1.2 million for the three and nine months ended September 30, 2020, respectively. These adjustments resulted in decreases in the Company's loss from operations of $0.3 million and $1.2 million and a decrease in basic and diluted net loss per share of zero and $0.02 for the three and nine months ended September 30, 2020, respectively. Product Revenue Product revenue from instruments and diagnostic kits is recognized generally upon shipment or when the instrument is ready for use by the end customer. This process involves identifying the contract with a customer, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and is separately identified in the contract. Performance obligations are considered satisfied once the Company has transferred control of a product to the customer, meaning the customer has the ability to use and obtain the benefit of the product. The Company recognizes product revenue for satisfied performance obligations only when there are no uncertainties regarding payment terms or transfer of control. Shipping and handling costs incurred for product shipments are included in product revenue. Revenues are presented net of the taxes that are collected from customers and remitted to governmental authorities. There was no revenue from instrument sales for nine months ended September 30, 2021 or 2020. Biopharmaceutical and Other Revenue The Company enters into arrangements for research and development, commercialization, contract manufacturing and contract testing services. Such arrangements may require the Company to deliver various rights, manufactured diagnostic test kits, services and/or samples, including intellectual property rights/licenses, research and development services, and/or commercialization services. The underlying terms of these arrangements generally provide for consideration to the Company in the form of nonrefundable upfront license fees; payments on delivery of data, test results or manufactured products; costs of service plus margin; development and commercial performance milestone payments; royalty payments; and/or profit sharing. Net sales of data or other services to customers are recognized in accordance with ASC 606 and are classified under biopharmaceutical and other revenue. Milestone payments which fall under the scope of ASC Topic 808, Collaborative Arrangements , or ASC 808, are classified under collaboration revenue. Payments received that are not related to sales or services to a customer or collaboration revenue are recorded as offsets against research and development expense or cost of biopharmaceutical and other revenue in the Company's condensed consolidated statements of operations. In arrangements involving more than one good or service, each required good or service is evaluated to determine whether it qualifies as a distinct performance obligation based on whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available and (ii) the good or service is separately identifiable from other promises in the contract. The consideration under the arrangement is then allocated to each separate distinct performance obligation based on its respective relative stand-alone selling price. The estimated selling price of each deliverable reflects the Company's best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis or using an adjusted market assessment approach if selling price on a stand-alone basis is not available. The consideration allocated to each distinct performance obligation is recognized as revenue when control is transferred which may be at a point in time or over time. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not occur. Should there be royalties, the Company utilizes the sales and usage-based royalty exception in arrangements that resulted from the license of intellectual property, recognizing revenues generated from royalties or profit sharing as the underlying sales occur. As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgment to determine the underlying stand-alone selling price for each performance obligation which determines how the transaction price is allocated among the performance obligations. Generally, the estimation of the stand-alone selling price may include such estimates as independent evidence of market price, forecasted revenues or costs, development timelines, discount rates, and probabilities of technical and regulatory success. The Company evaluates each performance obligation to determine if they can be satisfied at a point in time or over time, and it measures the services delivered to the collaborative partner which are periodically reviewed based on the progress of the related program. The effect of any change made to an estimated input component and, therefore revenue or expense recognized, would be recorded as a change in estimate. In addition, variable consideration must be evaluated to determine if it is constrained and, therefore, excluded from the transaction price. Up-front Fees: If a license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from the transaction price allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. Milestone Payments: At the inception of each arrangement that includes milestone payments (variable consideration), the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within either party’s control, such as non-operational developmental and regulatory approvals, are generally not considered probable of being achieved until those approvals are received. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones that are within either party’s control, such as operational developmental milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. Revisions to the Company’s estimate of the transaction price may also result in negative revenues and earnings in the period of adjustment. Accounts receivable from biopharmaceutical and other revenue was $9.2 million at September 30, 2021 and $0.4 million at December 31, 2020. There was $4.0 million and $1.0 million of deferred revenue related to these agreements at September 30, 2021 and December 31, 2020, respectively. Revenues included in biopharmaceutical and other revenue for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Development services $ 3,849 $ 549 $ 5,242 $ 1,780 Provision of data 1,392 275 1,839 1,545 Milestones — — 350 1,000 Development rights — — — 1,000 Contract manufacturing 1,221 — 1,221 — Contract testing 52 — 52 — Total $ 6,514 $ 824 $ 8,704 $ 5,325 Diagnostic Development Agreement with Johnson & Johnson The Company has entered into contracts with the Lung Cancer Initiative at Johnson & Johnson to cooperate on the development of clinical data, to provide data generated by the Company and to license the right to use data under the Company's intellectual property rights. Under the terms of the agreements, the Company will provide data in exchange for up to $18.0 million in payments from Johnson & Johnson. The Company is also entitled to additional payments of up to $13.0 million, conditioned upon the achievement of certain milestones. The agreements are considered to be within the scope of ASC 808 with respect to the milestone payments, as the parties are active participants and exposed to the risks and rewards of the collaborative activity. The delivery of data under the collaborative arrangement, which the Company believes is a distinct service for which Johnson & Johnson meets the definition of a customer is within the scope of ASC 606. Using the concepts of ASC 606, the Company has identified the delivery of data as its only performance obligation. The grant of the license is not distinct from other performance obligations as the customer receives benefit only when other performance obligations are met. The Company further determined that the transaction prices under the arrangements are the $18.0 million in payments which was allocated to the obligation to deliver data. The $13.0 million in future potential payments is considered variable consideration because the Company determined that the potential payments are contingent upon regulatory, development and commercialization milestones that are uncertain to occur and, as such, were not included in the transaction price, and will be recognized accordingly as each potential payment becomes probable. For the three and nine months ended September 30, 2021, the Company recognized $0.1 million and $0.4 million, respectively, of revenue under these contracts, which is included in biopharmaceutical and other revenue. For the three and nine months ended September 30, 2020, the Company recognized $0.3 million and $1.9 million, respectively, of revenue under these contracts. Accounts receivable from Johnson & Johnson related to these contracts was $0.1 million at September 30, 2021 and zero at December 31, 2020. There was $1.1 million and $1.0 million of deferred revenue related to these agreements at September 30, 2021 and December 31, 2020, respectively. Cost of Testing Revenue The components of our cost of testing services are laboratory expenses, sample collection expenses, compensation expense, license fees and royalties, depreciation and amortization, other expenses such as equipment and laboratory supplies, and allocations of facility and information technology expenses. Costs associated with performing tests are expensed as the test is processed regardless of whether and when revenue is recognized with respect to that test. Cost of Product Revenue Cost of product revenue consists primarily of costs of purchasing instruments and diagnostic kits from third -party contract manufacturers, installation, service and packaging and delivery costs. In addition, cost of product includes royalty costs for licensed technologies included in the Company’s products and labor expenses. Cost of product revenue for instruments and diagnostic kits is recognized in the period the related revenue is recognized. Shipping and handling costs incurred for product shipments are included in cost of product in the condensed consolidated statements of operations. Cost of Biopharmaceutical and Other Revenue
French Research Tax Credits	French Research Tax Credits The French research tax credits (“crédit d’impôt recherche” or “CIR”) is generated by the Company’s wholly owned subsidiary, HalioDx, in connection with its research efforts performed in Marseille, France. The Company recognizes other income from the CIR over time based on when the research and development expenses are incurred and includes the CIR in prepaids and other current assets on the condensed consolidated balance sheets.
Foreign Currency Translation	Foreign Currency Translation The functional currency of the Company’s foreign subsidiary HalioDx is the Euro. Assets and liabilities denominated in foreign currencies are translated to U.S. dollars using the exchange rates at the balance sheet date. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity. Revenues and expenses from the Company’s foreign subsidiaries are translated using the monthly average exchange rates in effect during the period in which the transactions occur. Foreign currency transaction gains and losses are recorded in other (loss) income, net, on the condensed consolidated statements of operations.
Pension Liability	Pension LiabilityThe Company offers a defined benefit pension plan
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . This standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. This ASU removes the following exceptions: (1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; (3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and (4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this ASU also improve consistency and simplify other areas of Topic 740 by clarifying and amending existing guidance. The revised guidance will be applied prospectively and became effective for the Company beginning January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on our condensed consolidated financial statements.

Organization , Description of B

Organization , Description of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of the Company's Third-party Payers	The Company’s third-party payers and other customers in excess of 10% of total revenue and their related revenue as a percentage of total revenue were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Medicare 31 % 25 % 31 % 24 % UnitedHealthcare 9 % 11 % 10 % 11 % 40 % 36 % 41 % 35 % The Company’s third-party payers and other customers in excess of 10% of accounts receivable and their related accounts receivable balance as a percentage of total accounts receivable were as follows at the following dates: September 30, 2021 December 31, 2020 Medicare 11 % 13 % UnitedHealthcare 9 % 12 %
Schedule of Biopharmaceuticals and Other Revenues	Revenues included in biopharmaceutical and other revenue for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Development services $ 3,849 $ 549 $ 5,242 $ 1,780 Provision of data 1,392 275 1,839 1,545 Milestones — — 350 1,000 Development rights — — — 1,000 Contract manufacturing 1,221 — 1,221 — Contract testing 52 — 52 — Total $ 6,514 $ 824 $ 8,704 $ 5,325

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
Net Loss Per Common Share (Tables)	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Outstanding Common Stock Equivalents Excluded From Diluted Net Loss Per Common Share	The following outstanding common stock equivalents have been excluded from diluted net loss per common share because their inclusion would be anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Shares of common stock subject to outstanding options 3,668,179 4,492,414 3,817,351 4,691,424 Employee stock purchase plan 14,445 15,673 16,686 20,151 Restricted stock units 1,246,888 891,087 1,011,466 929,968 Total common stock equivalents 4,929,512 5,399,174 4,845,503 5,641,543

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
Balance Sheet Components (Tables)	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Goodwill	The changes in the carrying amounts of goodwill were as follows (in thousands of dollars): Amounts Balance as of December 31, 2020 $ 2,725 Goodwill acquired - Decipher Biosciences 468,253 Goodwill acquired - HalioDx 249,612 Effect of foreign currency translation on Goodwill acquired - HalioDx (6,317) Balance as of September 30, 2021 $ 714,273
Schedule of Intangible Assets	Intangible assets consisted of the following (in thousands of dollars): September 30, 2021 December 31, 2020 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Percepta product technology $ 16,000 $ (6,933) $ 9,067 $ 16,000 $ (6,133) $ 9,867 15 Prosigna product technology 4,120 (504) 3,616 4,120 (298) 3,822 15 Prosigna customer relationships 2,430 (891) 1,539 2,430 (526) 1,904 5 nCounter Dx license 46,880 (5,730) 41,150 46,880 (3,386) 43,494 15 LymphMark product technology 990 (259) 731 990 (153) 837 7 Decipher product technology 90,000 (4,984) 85,016 — — — 10 Decipher trade names 4,000 (443) 3,557 — — — 5 HalioDx developed technology 46,720 (772) 45,948 — — — 10 HalioDx customer relationships 4,985 (318) 4,667 — — — 6 HalioDx customer backlog 7,072 (142) 6,930 — — — 4 Total finite-lived intangibles 223,197 (20,976) 202,221 70,420 (10,496) 59,924 10.9 In-process research and development 7,300 — 7,300 — — — Total intangible assets $ 230,497 $ (20,976) $ 209,521 $ 70,420 $ (10,496) $ 59,924
Schedule of Estimated Future Aggregate Amortization Expense	The estimated future aggregate amortization expense as of September 30, 2021 is as follows (in thousands of dollars): Year Ending December 31, Amounts 2021 remainder of year $ 5,542 2022 22,165 2023 22,165 2024 22,125 2025 21,679 Thereafter 108,545 Total $ 202,221
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands of dollars): September 30, 2021 December 31, 2020 Accrued compensation expenses $ 22,628 $ 9,201 Accrued other 6,416 2,504 Total accrued liabilities $ 29,044 $ 11,705

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
Business Combinations (Tables)	Sep. 30, 2021
Business Combinations [Abstract]
Schedule of Purchase Price and Nonrecurring Post-compensation Expense	The following table summarizes the purchase price and post-combination compensation expense as a part of the HalioDx Acquisition (in thousands): Purchase Price Post-Combination Compensation Expense Cash transferred $ 169,583 $ — Liabilities incurred 4,194 19,904 Common stock transferred 147,089 — Total $ 320,866 $ 19,904 The following table summarizes the purchase price and nonrecurring post-combination compensation expense recorded as a part of the Decipher Acquisition (in thousands): Purchase Price Nonrecurring Upfront cash consideration $ 550,515 $ 270 Liabilities incurred 44,179 24,809 Total $ 594,694 $ 25,079
Schedule of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of assets acquired and liabilities assumed in the acquisition of HalioDx at the date of acquisition (in thousands): Cash and cash equivalents $ 5,938 Accounts receivable 10,793 Supplies inventory 3,610 Prepaids and other current assets 7,045 Property and equipment, net 2,716 Right-of-use assets, financing lease 733 Right-of-use assets, operating lease 2,136 Intangible assets 60,303 Other assets 524 Total identifiable assets acquired 93,798 Accounts payable (2,645) Accrued liabilities (5,628) Current portion of financing lease liability (245) Current portion of operating lease liability (448) Long-term debt (1,171) Deferred revenue (3,250) Financing lease liability, net of current portion (488) Operating lease liability, net of current portion (1,687) Deferred tax liability (6,982) Net identifiable assets acquired 71,254 Goodwill 249,612 Total purchase price $ 320,866 assets acquired and liabilities assumed through the Company's acquisition of Decipher Biosciences at the date of acquisition (in thousands): Cash and cash equivalents $ 19,782 Accounts receivable 7,562 Supplies inventory 1,641 Prepaids and other current assets 778 Property and equipment, net 1,737 Right-of-use assets, operating lease 7,601 Finite-lived intangible assets 94,000 Indefinite-lived intangible assets 7,300 Restricted cash 146 Other assets 3,075 Total identifiable assets acquired 143,622 Accounts payable (2,351) Accrued liabilities (4,322) Operating lease obligations (current) (1,241) Operating lease obligations, net of current portion (4,540) Deferred tax liability (4,727) Net identifiable assets acquired 126,441 Goodwill 468,253 Total purchase price $ 594,694
Schedule of Intangible Assets Acquired	The fair value of our intangible assets acquired as of the acquisition date and the method used to value these assets as well as the estimated economic lives for amortizable intangible assets were as follows (in thousands, except estimated useful life which is in years): Fair value Estimated useful life Valuation method Developed technology – diagnostics $ 4,163 10 Multi-period excess earnings Developed technology – biopharma 42,224 10 Multi-period excess earnings Developed technology – contract IVD 1,546 10 Multi-period excess earnings Customer relationships – biopharma 2,141 7 With-and-without Customer relationships – contract IVD 2,973 5 With-and-without Customer backlog – biopharma 2,736 4 Multi-period excess earnings Customer backlog – contract IVD 4,520 4 Multi-period excess earnings Total $ 60,303
Schedule of Supplemental Pro Forma Information	The following unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved as if the acquisitions had taken place as of January 1, 2020 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Total revenues $ 62,608 $ 47,402 $ 178,525 $ 124,863 Net Loss $ (7,672) $ (9,971) $ (27,858) $ (106,397)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs and Valuation Techniques	As of September 30, 2021 and December 31, 2020, the Company calculated the estimated fair value of the milestones using the following significant unobservable inputs: Value or Range (Weighted-Average) Unobservable input September 30, 2021 December 31, 2020 Discount rate 5.7% 6.9% Probability of achievement 80% - 100% (88%) 70% - 100% (86%)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Future minimum lease payments under non-cancelable operating leases as of September 30, 2021 are as follows (in thousands of dollars): Year Ending December 31, Amounts Remainder of 2021 $ 1,042 2022 4,226 2023 4,296 2024 4,310 2025 4,380 Thereafter 2,487 Total future minimum lease payments 20,741 Less: amount representing interest 3,040 Present value of future lease payments 17,701 Less: short-term lease liabilities 3,465 Long-term lease liabilities $ 14,236
Schedule of Operating Lease Expense and Measurement Of Lease Liabilities	The following table summarizes operating lease expense and cash paid for amounts included in the measurement of lease liabilities (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Operating lease expense $ 982 $ 472 $ 2,460 $ 1,417 Cash paid for amounts included in the measurement of lease liabilities $ 1,011 $ 587 $ 2,518 $ 1,744

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of net debt obligations	The debt obligation for borrowings made under the Loan and Security Agreement was as follows (in thousands of dollars): September 30, 2021 December 31, 2020 Debt principal $ — $ — End-of-term debt obligation 971 810 Total debt obligation $ 971 $ 810

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2021
Equity [Abstract]
Schedule of reserved shares of common stock for issuance	The Company had reserved shares of common stock for issuance as follows: September 30, 2021 December 31, 2020 Stock options and restricted stock units issued and outstanding 4,961,248 4,867,303 Stock options and restricted stock units available for grant under stock option plans 4,439,910 3,061,589 Common stock available for the Employee Stock Purchase Plan 1,490,130 1,571,395 Total 10,891,288 9,500,287

Components of Other Income (L_2

Components of Other Income (Loss) (Tables)	9 Months Ended
Components of Other Income (Loss) (Tables)	Sep. 30, 2021
Other Income and Expenses [Abstract]
Schedule of Other Income (Loss), net	Other income (loss), net consists of the following (in thousands of dollars): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 French research tax credits $ 419 $ — $ 419 $ — Interest income 27 3 46 21 Interest expense (61) (55) (177) (175) Gain (loss) on currency revaluation 708 (8) (1,159) 17 Other 109 2 109 589 $ 1,202 $ (58) $ (762) $ 452

Organization, Description of _3

Organization, Description of Business and Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Thousands	Aug. 02, 2021USD ($)	Feb. 09, 2021USD ($)$ / sharesshares	Dec. 28, 2018USD ($)	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2021USD ($)segment$ / shares	Sep. 30, 2020USD ($)$ / shares	Dec. 31, 2020USD ($)
Class of Stock [Line Items]
Number of operating segments \| segment						1
Number of shares issued in transaction (in shares) \| shares		8,547,297
Proceeds from issuance of common stock		$ 593,800
Payments of stock issuance costs		$ 38,700
Long term deposit				$ 749		$ 749		$ 603
Revenue				60,370	$ 31,121	152,178	$ 82,947
Loss from operations				$ (16,681)	$ (4,066)	$ (69,570)	$ (27,317)
Net loss per common share, basic (in USD per share) \| $ / shares				$ (0.20)	$ (0.08)	$ (0.97)	$ (0.52)
Net loss per common share, diluted (in USD per share) \| $ / shares				$ (0.20)	$ (0.08)	$ (0.97)	$ (0.52)
Accounts receivable				$ 40,309		$ 40,309		18,461
Pension obligation				$ 1,100		$ 1,100
Defined Benefit Plan, Type [Extensible List]				us-gaap:PensionPlansDefinedBenefitMember		us-gaap:PensionPlansDefinedBenefitMember
ASU 2014-09
Class of Stock [Line Items]
Loss from operations				$ 500	$ 300	$ 900	$ 1,200
Net loss per common share, basic (in USD per share) \| $ / shares				$ 0.01	$ 0	$ 0.01	$ 0.02
Net loss per common share, diluted (in USD per share) \| $ / shares				$ 0.01	$ 0	$ 0.01	$ 0.02
Testing
Class of Stock [Line Items]
Revenue				$ 50,897	$ 28,270	$ 134,768	$ 70,473
Testing \| ASU 2014-09
Class of Stock [Line Items]
Revenue				500	300	900	1,200
Product
Class of Stock [Line Items]
Revenue				2,959	2,027	8,706	7,149
Biopharmaceutical and other
Class of Stock [Line Items]
Revenue				6,514	824	8,704	5,325
Accounts receivable				9,200		9,200		400
Deferred revenue				4,000		4,000		1,000
Johnson and Johnson Services, Inc. \| Collaborative Arrangement
Class of Stock [Line Items]
Collaborative agreement contingent receivable amount			$ 13,000
Contract with customer, revenue recognized				100	$ 300	400	$ 1,900
Accounts receivable				100		100		0
Deferred revenue				$ 1,100		$ 1,100		$ 1,000
Johnson and Johnson Services, Inc. \| Provision of Data \| Collaborative Arrangement
Class of Stock [Line Items]
Contract agreement receivable for services			$ 18,000
Common Stock
Class of Stock [Line Items]
Shares issued, price per share (in USD per share) \| $ / shares		$ 74
Over-Allotment Option
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) \| shares		1,114,864
HalioDx
Class of Stock [Line Items]
Cash paid in acquisition	$ 320,866
Cash considerations paid in acquisition	169,583
Common stock transferred	147,089
Incurred liabilities in acquisition	$ 4,194

Organization, Description of _4

Organization, Description of Business and Summary of Significant Accounting Policies - Schedule of Third-party Payers And Other Customers (Details) - Customer concentration risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue \| Medicare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk	31.00%	25.00%	31.00%	24.00%
Revenue \| UnitedHealthcare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk	9.00%	11.00%	10.00%	11.00%
Revenue \| Customers Representing >10% Of Total Revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk	40.00%	36.00%	41.00%	35.00%
Accounts receivable \| Medicare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk			11.00%		13.00%
Accounts receivable \| UnitedHealthcare
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk			9.00%		12.00%

Organization, Description of _5

Organization, Description of Business and Summary of Significant Accounting Policies - Schedule of Biopharmaceutical and Other Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 60,370	$ 31,121	$ 152,178	$ 82,947
Development services
Disaggregation of Revenue [Line Items]
Total revenue	3,849	549	5,242	1,780
Provision of data
Disaggregation of Revenue [Line Items]
Total revenue	1,392	275	1,839	1,545
Milestones
Disaggregation of Revenue [Line Items]
Total revenue	0	0	350	1,000
Development rights
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	1,000
Contract manufacturing
Disaggregation of Revenue [Line Items]
Total revenue	1,221	0	1,221	0
Contract testing
Disaggregation of Revenue [Line Items]
Total revenue	52	0	52	0
Biopharmaceutical and other
Disaggregation of Revenue [Line Items]
Total revenue	$ 6,514	$ 824	$ 8,704	$ 5,325

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
Net Loss Per Common Share (Details) - shares	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Shares of common stock subject to outstanding options (in shares)	4,929,512	5,399,174	4,845,503	5,641,543
Shares of common stock subject to outstanding options
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Shares of common stock subject to outstanding options (in shares)	3,668,179	4,492,414	3,817,351	4,691,424
Employee stock purchase plan
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Shares of common stock subject to outstanding options (in shares)	14,445	15,673	16,686	20,151
Restricted stock units
Outstanding shares of common stock equivalents that have been excluded from diluted net loss per common share
Shares of common stock subject to outstanding options (in shares)	1,246,888	891,087	1,011,466	929,968

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill at beginning of period	$ 2,725
Effect of foreign currency translation on Goodwill acquired - HalioDx	(6,317)
Goodwill at end of period	714,273
Decipher Biosciences
Goodwill [Roll Forward]
Goodwill acquired	468,253
HalioDx
Goodwill [Roll Forward]
Goodwill acquired	$ 249,612

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 223,197	$ 70,420
Accumulated Amortization	(20,976)	(10,496)
Total	$ 202,221	59,924
Weighted Average Amortization Period (Years)	10 years 10 months 24 days
Indefinite-lived intangible assets	$ 7,300
Total intangible assets	230,497	70,420
Intangible assets, net	209,521	59,924
Percepta product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,000	16,000
Accumulated Amortization	(6,933)	(6,133)
Total	$ 9,067	9,867
Weighted Average Amortization Period (Years)	15 years
Prosigna product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,120	4,120
Accumulated Amortization	(504)	(298)
Total	$ 3,616	3,822
Weighted Average Amortization Period (Years)	15 years
Prosigna customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,430	2,430
Accumulated Amortization	(891)	(526)
Total	$ 1,539	1,904
Weighted Average Amortization Period (Years)	5 years
nCounter Dx license
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 46,880	46,880
Accumulated Amortization	(5,730)	(3,386)
Total	$ 41,150	43,494
Weighted Average Amortization Period (Years)	15 years
LymphMark product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 990	990
Accumulated Amortization	(259)	(153)
Total	$ 731	837
Weighted Average Amortization Period (Years)	7 years
Decipher product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 90,000	0
Accumulated Amortization	(4,984)	0
Total	$ 85,016	0
Weighted Average Amortization Period (Years)	10 years
Decipher trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,000	0
Accumulated Amortization	(443)	0
Total	$ 3,557	0
Weighted Average Amortization Period (Years)	5 years
HalioDx developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 46,720	0
Accumulated Amortization	(772)	0
Total	$ 45,948	0
Weighted Average Amortization Period (Years)	10 years
HalioDx customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,985	0
Accumulated Amortization	(318)	0
Total	$ 4,667	0
Weighted Average Amortization Period (Years)	6 years
HalioDx customer backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,072	0
Accumulated Amortization	(142)	0
Total	$ 6,930	$ 0
Weighted Average Amortization Period (Years)	4 years

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Intangible asset amortization	$ 4,983	$ 1,274	$ 10,507	$ 3,822
2021 remainder of year	5,542		5,542
2022	22,165		22,165
2023	22,165		22,165
2024	22,125		22,125
2025	21,679		21,679
Thereafter	108,545		108,545
Total	$ 202,221		$ 202,221		$ 59,924

Balance Sheet Components - Sc_4

Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued compensation expenses	$ 22,628	$ 9,201
Accrued other	6,416	2,504
Total accrued liabilities	$ 29,044	$ 11,705

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in Thousands	Aug. 02, 2021USD ($)assetshares	Mar. 12, 2021USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Business Acquisition [Line Items]
Goodwill				$ 714,273			$ 714,273	$ 2,725
Estimated useful life							10 years 10 months 24 days
Decipher product technology
Business Acquisition [Line Items]
Estimated useful life							10 years
Decipher trade names
Business Acquisition [Line Items]
Estimated useful life							5 years
HalioDx developed technology
Business Acquisition [Line Items]
Estimated useful life							10 years
HalioDx customer relationships
Business Acquisition [Line Items]
Estimated useful life							6 years
HalioDx customer backlog
Business Acquisition [Line Items]
Estimated useful life							4 years
HalioDx SAS
Business Acquisition [Line Items]
Equity interest acquired	100.00%
HalioDx Inc.
Business Acquisition [Line Items]
Equity interest acquired	100.00%
HalioDx
Business Acquisition [Line Items]
Considerations paid in acquisition	$ 320,866
Common stock transferred	$ 147,089
Shares transferred in acquisition (in shares) \| shares	3,300,000
Incurred liabilities in acquisition	$ 4,194
Transaction costs							$ 7,700
Cash consideration holdback	$ 16,800
Percentage of cash consideration holdback placed in escrow	50.00%
Required service period associated with cash consideration holdback	2 years
Revenues associated with acquisition				4,700			4,700
Operating income (loss) associated with acquisition				(6,300)			(6,300)
Goodwill	$ 249,612
Deferred tax liability	6,982
Cash considerations paid in acquisition	169,583
Right-of-use assets, operating lease	2,136
Fair value of finite-lived intangible assets	$ 60,303
HalioDx \| Free Shares
Business Acquisition [Line Items]
Unvested free shares modified (in shares) \| shares	11,031
Fair value of free shares modified (in shares)	$ 5,100
Pre-combination services associated with free shares modified	3,500
HalioDx \| Options
Business Acquisition [Line Items]
Pre-combination services associated with options vested	400
Nonrecurring post-combination compensation expense associated nonvested options	1,500
HalioDx \| Restricted stock units
Business Acquisition [Line Items]
Fair value of awards granted	$ 16,500
Vesting period of awards granted	4 years
Stock-based compensation expense				2,600			2,600
HalioDx \| Restricted stock units \| Non-substantive Employee
Business Acquisition [Line Items]
Stock-based compensation expense				2,000			2,000
HalioDx \| HalioDx developed technology
Business Acquisition [Line Items]
Intangible asset acquired \| asset	3
HalioDx \| HalioDx customer relationships
Business Acquisition [Line Items]
Intangible asset acquired \| asset	2
HalioDx \| HalioDx customer backlog
Business Acquisition [Line Items]
Intangible asset acquired \| asset	2
HalioDx \| Acquisition-related Costs
Business Acquisition [Line Items]
Considerations paid in acquisition				1,600			1,600
HalioDx \| Acquisition-related Costs \| Cost of revenue
Business Acquisition [Line Items]
Considerations paid in acquisition				100			100
HalioDx \| Acquisition-related Costs \| Research and Development
Business Acquisition [Line Items]
Considerations paid in acquisition				300			300
HalioDx \| Acquisition-related Costs \| Selling and Marketing
Business Acquisition [Line Items]
Considerations paid in acquisition				500			500
Decipher Biosciences
Business Acquisition [Line Items]
Equity interest acquired		100.00%
Considerations paid in acquisition		$ 594,694
Incurred liabilities in acquisition		44,179
Transaction costs							10,600
Revenues associated with acquisition				21,300			44,000
Operating income (loss) associated with acquisition				$ 5,400			10,300
Goodwill		468,253
Deferred tax liability		4,727
Cash considerations paid in acquisition		550,515				$ 43,800
Acceleration and cash settlement of unvested acquiree employee stock awards					$ 25,100
Increase (decrease) in fair value of accounts receivable acquired							1,800
Increase (decrease) in goodwill acquired, corresponding to accounts receivable remeasurement							$ 1,800
Right-of-use assets, operating lease		7,601
Fair value of finite-lived intangible assets		94,000
Release of valuation allowance		3,500
Decipher Biosciences \| Dr. Tina S. Nova, Ph.D.
Business Acquisition [Line Items]
Payments to board of directors members			$ 26,500
Decipher Biosciences \| Dr. Robert S. Epstein, M.D., M.S.
Business Acquisition [Line Items]
Payments to board of directors members			$ 1,400
Decipher Biosciences \| Off-Market Favorable Lease
Business Acquisition [Line Items]
Right-of-use assets, operating lease		1,800
Decipher Biosciences \| Decipher product technology
Business Acquisition [Line Items]
Fair value of finite-lived intangible assets		$ 90,000
Estimated useful life		10 years
Decipher Biosciences \| Decipher trade names
Business Acquisition [Line Items]
Fair value of finite-lived intangible assets		$ 4,000
Estimated useful life		5 years
Decipher Biosciences \| Acquisition-related Costs
Business Acquisition [Line Items]
Considerations paid in acquisition		$ 25,079
Incurred liabilities in acquisition		24,809
Cash considerations paid in acquisition		$ 270

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Price and Nonrecurring Expenses (Details) - USD ($) $ in Thousands	Aug. 02, 2021	Mar. 12, 2021	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021
Decipher Biosciences
Statement [Line Items]
Cash transferred		$ 550,515		$ 43,800
Liabilities incurred		44,179
Cash paid in acquisition		594,694
Decipher Biosciences \| Acquisition-related Costs
Statement [Line Items]
Cash transferred		270
Liabilities incurred		24,809
Cash paid in acquisition		$ 25,079
HalioDx
Statement [Line Items]
Cash transferred	$ 169,583
Liabilities incurred	4,194
Common stock transferred	147,089
Cash paid in acquisition	320,866
HalioDx \| Acquisition-related Costs
Statement [Line Items]
Cash paid in acquisition			$ 1,600		$ 1,600
HalioDx \| Acquisition-related Costs \| Scenario, Plan
Statement [Line Items]
Cash transferred	0
Liabilities incurred	19,904
Common stock transferred	0
Cash paid in acquisition	$ 19,904

Business Combinations - Fair Va

Business Combinations - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Aug. 02, 2021	Mar. 12, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 714,273			$ 2,725
Decipher Biosciences
Business Acquisition [Line Items]
Cash and cash equivalents			$ 19,782
Accounts receivable			7,562
Supplies inventory			1,641
Prepaids and other current assets			778
Property and equipment, net			1,737
Right-of-use assets, operating lease			7,601
Finite-lived intangible assets			94,000
Indefinite-lived intangible assets			7,300
Restricted cash			146
Other assets			3,075
Total identifiable assets acquired			143,622
Accounts payable			(2,351)
Accrued liabilities			(4,322)
Current portion of operating lease liability			(1,241)
Operating lease liability, net of current portion			(4,540)
Deferred tax liability			(4,727)
Net identifiable assets acquired			126,441
Goodwill			468,253
Total purchase price			$ 594,694
HalioDx
Business Acquisition [Line Items]
Cash and cash equivalents		$ 5,938
Accounts receivable		10,793
Supplies inventory		3,610
Prepaids and other current assets		7,045
Property and equipment, net		2,716
Right-of-use assets, financing lease		733
Right-of-use assets, operating lease		2,136
Finite-lived intangible assets		60,303
Other assets		524
Total identifiable assets acquired		93,798
Accounts payable		(2,645)
Accrued liabilities		(5,628)
Current portion of financing lease liability		(245)
Current portion of operating lease liability		(448)
Long-term debt		(1,171)
Deferred revenue		(3,250)
Financing lease liability, net of current portion		(488)
Operating lease liability, net of current portion		(1,687)
Deferred tax liability		(6,982)
Net identifiable assets acquired		71,254
Goodwill		249,612
Total purchase price		$ 320,866

Business Combinations - Sched_2

Business Combinations - Schedule of Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Aug. 02, 2021	Sep. 30, 2021
Acquired Indefinite-lived Intangible Assets [Line Items]
Estimated useful life		10 years 10 months 24 days
HalioDx developed technology
Acquired Indefinite-lived Intangible Assets [Line Items]
Estimated useful life		10 years
HalioDx customer relationships
Acquired Indefinite-lived Intangible Assets [Line Items]
Estimated useful life		6 years
HalioDx customer backlog
Acquired Indefinite-lived Intangible Assets [Line Items]
Estimated useful life		4 years
HalioDx
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 60,303
HalioDx \| HalioDx developed technology \| Product
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 4,163
Estimated useful life	10 years
HalioDx \| HalioDx developed technology \| Biopharmaceutical and other
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 42,224
Estimated useful life	10 years
HalioDx \| HalioDx developed technology \| Testing
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 1,546
Estimated useful life	10 years
HalioDx \| HalioDx customer relationships \| Biopharmaceutical and other
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 2,141
Estimated useful life	7 years
HalioDx \| HalioDx customer relationships \| Testing
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 2,973
Estimated useful life	5 years
HalioDx \| HalioDx customer backlog \| Biopharmaceutical and other
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 2,736
Estimated useful life	4 years
HalioDx \| HalioDx customer backlog \| Testing
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets	$ 4,520
Estimated useful life	4 years

Business Combinations - Supplem

Business Combinations - Supplemental Pro Forma Information (Details) - Decipher Biosciences and HalioDX - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total revenues	$ 62,608	$ 47,402	$ 178,525	$ 124,863
Net Loss	$ (7,672)	$ (9,971)	$ (27,858)	$ (106,397)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Dec. 03, 2019	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term contingent considerations		$ 2,646	$ 0
Headquarters and laboratory facilities, South San Francisco, San Diego, and Austin
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Security deposit		749	603
NanoString
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash paid in acquisition	$ 40,000
Additional cash to be paid	10,000
Acquisition-related contingent consideration, net of current portion	6,100	7,900	7,600
Short term contingent considerations		2,600
NanoString \| Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of shares issued in acquisition	$ 10,000
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		150,800	$ 346,800
Bank Time Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Time deposits		$ 4,100

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurement Input (Details)	Sep. 30, 2021	Dec. 31, 2020
Discount rate
Measurement input	0.057	0.069
Probability of achievement \| Minimum
Measurement input	0.80	0.70
Probability of achievement \| Maximum
Measurement input	1	1
Probability of achievement \| Weighted Average
Measurement input	0.88	0.86

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 12, 2021	Dec. 31, 2020
Operating Leases
Weighted average discount rate	6.50%
Finance right-of-use assets	$ 700
Finance lease liabilities	$ 700
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities
Headquarters and laboratory facilities, South San Francisco, San Diego, and Austin
Operating Leases
Weighted average remaining lease term	5 years 2 months 12 days
Security deposit	$ 749		$ 603
Facilities in Marseille, France
Operating Leases
Term of lease	12 years
Annual rent	$ 1,400
Decipher Biosciences
Operating Leases
Right-of-use assets, operating lease		$ 7,601
Decipher Biosciences \| Off-Market Favorable Lease
Operating Leases
Right-of-use assets, operating lease		$ 1,800

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Future minimum lease payments under non-cancelable operating leases
Remainder of 2021	$ 1,042
2022	4,226
2023	4,296
2024	4,310
2025	4,380
Thereafter	2,487
Total future minimum lease payments	20,741
Less: amount representing interest	3,040
Present value of future lease payments	17,701
Less: short-term lease liabilities	3,465	$ 1,589
Long-term lease liabilities	$ 14,236	$ 9,917

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 982	$ 472	$ 2,460	$ 1,417
Cash paid for amounts included in the measurement of lease liabilities	$ 1,011	$ 587	$ 2,518	$ 1,744

Debt - Loan and Security Agreem

Debt - Loan and Security Agreement (Details) - USD ($)	Nov. 03, 2017	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Payment of long-term debt		$ 0	$ 100,000
Line of credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Termination fee on loan, percentage of revolving line of credit		1.00%
Early termination fee on loan		$ 100,000
Line of credit \| Silicon Valley Bank
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 35,000,000
Periodic payment terms, balloon payment to be paid		1,200,000
Long-term debt balance outstanding		971,000		$ 810,000
Line of credit \| Silicon Valley Bank \| Secured Debt
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	25,000,000
Periodic payment terms, balloon payment to be paid	1,200,000
Line of credit \| Silicon Valley Bank \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 10,000,000
Payment of long-term debt				$ 100,000	$ 24,900,000
Term Loan Advance \| Silicon Valley Bank
Line of Credit Facility [Line Items]
Long-term debt balance outstanding		$ 1
London Interbank Offered Rate (LIBOR) \| Line of credit \| Silicon Valley Bank \| Secured Debt
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.20%
London Interbank Offered Rate (LIBOR) \| Line of credit \| Silicon Valley Bank \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.50%
Minimum \| London Interbank Offered Rate (LIBOR) \| Line of credit \| Silicon Valley Bank \| Secured Debt
Line of Credit Facility [Line Items]
Interest rate, stated percentage	5.43%
Minimum \| London Interbank Offered Rate (LIBOR) \| Line of credit \| Silicon Valley Bank \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate, stated percentage	4.70%
Debt prepayment tranche three \| London Interbank Offered Rate (LIBOR) \| Line of credit \| Silicon Valley Bank \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Prepayment premium	$ 250,000

Debt - Schedule of Loan and Sec

Debt - Schedule of Loan and Security Agreement (Details) - Line of credit - Silicon Valley Bank - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt principal	$ 0	$ 0
End-of-term debt obligation	971	810
Total debt obligation	$ 971	$ 810

Stockholders' Equity (Details)

Stockholders' Equity (Details) - shares	Sep. 30, 2021	Dec. 31, 2020
Common Stock
Total number of shares reserved for issuance (in shares)	10,891,288	9,500,287
Shares of common stock subject to outstanding options
Common Stock
Options issued and outstanding (in shares)	4,961,248	4,867,303
Shares available for issuance (in shares)	4,439,910	3,061,589
Employee stock purchase plan
Common Stock
Shares available for issuance (in shares)	1,490,130	1,571,395

Components of Other Income (L_3

Components of Other Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
French research tax credits	$ 419	$ 0	$ 419	$ 0
Interest income	27	3	46	21
Interest expense	(61)	(55)	(177)	(175)
Gain (loss) on currency revaluation	708	(8)	(1,159)	17
Other	109	2	109	589
Other income (loss), net	$ 1,202	$ (58)	$ (762)	$ 452

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax benefit	$ (1,350)	$ 0	$ (5,297)	$ 0