10x Genomics (TXG) 10-Q30 Apr 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 15, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-39035
Entity Registrant Name	10x Genomics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-5614458
Entity Address, Address Line One	6230 Stoneridge Mall Road
Entity Address, City or Town	Pleasanton
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94588
City Area Code	925
Local Phone Number	401-7300
Title of 12(b) Security	Class A common stock, par value $0.00001 per share
Trading Symbol	TXG
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
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001770787
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		105,651,593
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		14,056,833

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 355,781	$ 359,284
Marketable securities	16,033	29,411
Accounts receivable, net	91,305	114,832
Inventory	83,189	73,706
Prepaid expenses and other current assets	20,785	18,789
Total current assets	567,093	596,022
Property and equipment, net	269,486	279,571
Operating lease right-of-use assets	62,850	65,361
Goodwill	4,511	4,511
Intangible assets, net	16,129	16,616
Other noncurrent assets	2,844	3,062
Total assets	922,913	965,143
Current liabilities:
Accounts payable	20,216	15,738
Accrued compensation and related benefits	20,670	30,105
Accrued expenses and other current liabilities	42,424	56,648
Deferred revenue	14,296	13,150
Operating lease liabilities	11,127	11,521
Total current liabilities	108,733	127,162
Operating lease liabilities, noncurrent	81,049	83,849
Deferred revenue, noncurrent	9,787	8,814
Other noncurrent liabilities	4,510	4,275
Total liabilities	204,079	224,100
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock	0	0
Common stock	2	2
Additional paid-in capital	2,063,657	2,025,890
Accumulated deficit	(1,344,369)	(1,284,420)
Accumulated other comprehensive loss	(456)	(429)
Total stockholders’ equity	718,834	741,043
Total liabilities and stockholders’ equity	$ 922,913	$ 965,143

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 141,006	$ 134,285
Cost of revenue	48,092	35,895
Gross profit	92,914	98,390
Operating expenses:
Research and development	68,638	67,098
Selling, general and administrative	85,774	83,280
Total operating expenses	154,412	150,378
Loss from operations	(61,498)	(51,988)
Other income (expense):
Interest income	4,736	3,869
Interest expense	(1)	(19)
Other expense, net	(1,040)	(1,516)
Total other income	3,695	2,334
Loss before provision for income taxes	(57,803)	(49,654)
Provision for income taxes	2,146	1,093
Net loss	$ (59,949)	$ (50,747)
Net loss per share, basic (in dollars per share)	$ (0.50)	$ (0.44)
Net loss per share, diluted (in dollars per share)	$ (0.50)	$ (0.44)
Weighted-average shares of common stock used in computing net loss per share, basic (in shares)	119,394,180	115,619,869
Weighted-average shares of common stock used in computing net loss per share, diluted (in shares)	119,394,180	115,619,869

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (59,949)	$ (50,747)
Other comprehensive income, net of tax:
Unrealized gains on available-for-sale marketable securities	136	1,117
Realized loss on available-for-sale marketable securities reclassified into net loss	0	1,715
Foreign currency translation adjustment	(163)	24
Other comprehensive income (loss), net of tax	(27)	2,856
Comprehensive loss	$ (59,976)	$ (47,891)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Common Class A	Common Class A Common Stock	Common Class A Additional Paid-in Capital
Beginning balance (in shares) at Dec. 31, 2022		115,195,009
Beginning balance at Dec. 31, 2022	$ 805,743	$ 2	$ 1,839,397	$ (1,029,321)	$ (4,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock related to equity awards (in shares)							978,333
Issuance of Class A common stock related to equity awards						$ 2,400		$ 2,400
Stock-based compensation	42,133		42,133
Net loss	(50,747)			(50,747)
Other comprehensive income (loss)	2,856				2,856
Ending balance (in shares) at Mar. 31, 2023		116,173,342
Ending balance at Mar. 31, 2023	802,385	$ 2	1,883,930	(1,080,068)	(1,479)
Beginning balance (in shares) at Dec. 31, 2023		119,095,362
Beginning balance at Dec. 31, 2023	741,043	$ 2	2,025,890	(1,284,420)	(429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock related to equity awards (in shares)							605,487
Issuance of Class A common stock related to equity awards						$ 1,638		$ 1,638
Stock-based compensation	36,129		36,129
Net loss	(59,949)			(59,949)
Other comprehensive income (loss)	(27)				(27)
Ending balance (in shares) at Mar. 31, 2024		119,700,849
Ending balance at Mar. 31, 2024	$ 718,834	$ 2	$ 2,063,657	$ (1,344,369)	$ (456)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net loss	$ (59,949)	$ (50,747)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	36,129	42,101
Depreciation and amortization	9,194	6,482
Amortization of right-of-use assets	2,300	2,134
Lease and asset impairment charges	2,454	0
Realized loss on marketable securities	0	1,715
Other	444	150
Changes in operating assets and liabilities:
Accounts receivable	23,516	26,279
Inventory	(9,937)	(449)
Prepaid expenses and other current assets	(2,029)	(4,253)
Other noncurrent assets	216	(10,470)
Accounts payable	4,583	(781)
Accrued compensation and other related benefits	(9,380)	(15,129)
Deferred revenue	2,120	1,051
Accrued expenses and other current liabilities	(12,674)	(161)
Operating lease liability	(2,961)	(2,308)
Other noncurrent liabilities	249	261
Net cash used in operating activities	(15,725)	(4,125)
Investing activities:
Purchases of property and equipment	(2,910)	(4,559)
Purchases of intangible assets	0	(723)
Proceeds from sales of marketable securities	568	93,342
Proceeds from maturities of marketable securities	12,974	31,896
Net cash provided by investing activities	10,632	119,956
Financing activities:
Payments on financing arrangement	0	(5,814)
Issuance of common stock from exercise of stock options	1,638	2,400
Net cash provided by (used in) financing activities	1,638	(3,414)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(48)	24
Net increase (decrease) in cash and cash equivalents	(3,503)	112,441
Cash and cash equivalents at beginning of period	359,284	227,353
Cash and cash equivalents at end of period	355,781	339,794
Supplemental disclosures of cash flow information:
Cash paid for interest	0	436
Cash paid for taxes	961	2,547
Noncash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	1,899	30,668
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 6,893

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
Description of Business and Basis of Presentation	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Organization and Description of Business 10x Genomics, Inc. (the “Company”) is a life sciences technology company focused on building innovative products and solutions to interrogate, understand and master biological systems at resolution and scale that matches the complexity of biology. The Company’s integrated solutions include the Company’s Chromium X Series and Chromium Connect instruments, which the Company refers to as “Chromium instruments,” the Company’s Visium CytAssist and Xenium Analyzer instruments, which the Company refers to as “Spatial instruments,” and the Company’s proprietary microfluidic chips, slides, reagents and other consumables for the Company’s Chromium, Visium and Xenium solutions, which the Company refers to as “consumables.” The Company bundles its software with these products to guide customers through the workflow, from sample preparation through analysis and visualization. The Company was incorporated in the state of Delaware in July 2012 and began commercial and manufacturing operations and selling its instruments and consumables in 2015. The Company is headquartered in Pleasanton, California and has wholly-owned subsidiaries in Asia, Europe, Oceania and North America. Basis of Presentation The accompanying condensed consolidated financial statements, which include the Company’s accounts and the accounts of its wholly-owned subsidiaries, are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The condensed consolidated balance sheets at December 31, 2023 have been derived from the audited consolidated financial statements of the Company at that date. Certain information and footnote disclosures typically included in the Company’s audited consolidated financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. All intercompany transactions and balances have been eliminated. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The accompanying unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2023 included in the Company's Annual Report on Form 10-K filed with the SEC on February 15, 2024 (our “Annual Report”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies There were no material changes in the Company’s significant accounting policies during the three months ended March 31, 2024. See Note 2 – Summary of Significant Accounting Policies to the consolidated financial statements included in the Company’s Annual Report for information regarding the Company’s significant accounting policies. Revenue Recognition The Company generates revenue from sales of products and services, and its products consist of instruments and consumables. Revenue from product sales is recognized when control of the product is transferred, which is generally upon shipment to the customer. Instrument service agreements, which relate to extended warranties, are typically entered into for one-year terms, following the expiration of the standard one-year warranty period. Revenue for extended warranties is recognized ratably over the term of the extended warranty period as a stand ready performance obligation. Revenue is recorded net of discounts, distributor commissions and sales taxes collected on behalf of governmental authorities. Customers are invoiced generally upon shipment, or upon order for services, and payment is typically due within 30 days. Cash received from customers in advance of product shipment or providing services is recorded as a contract liability. The Company’s contracts with its customers generally do not include rights of return or a significant financing component. The Company regularly enters into contracts that include various combinations of products and services which are generally distinct and accounted for as separate performance obligations. The transaction price is allocated to each performance obligation in proportion to its standalone selling price. The Company determines standalone selling price using average selling prices with consideration of current market conditions. If the product or service has no history of sales or if the sales volume is not sufficient, the Company relies upon prices set by management, adjusted for applicable discounts. Net Loss Per Share Net loss per share is computed using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights and sharing of losses, of the Class A common stock and Class B common stock are identical, other than voting rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, adjusted for outstanding shares that are subject to repurchase. For the calculation of diluted net loss per share, basic net loss per share is adjusted by the effect of dilutive securities including awards under the Company’s equity compensation plans. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. For periods in which the Company reports net losses, diluted net loss per share is the same as basic net loss per share because potentially dilutive shares of common stock are not assumed to have been issued if their effect is anti-dilutive. Recently Issued Accounting Pronouncement and Disclosure Rules In December 2023, the FASB issued ASU No. 2023-09, Income Taxes, which prescribes standardized categories and disaggregation of information in the reconciliation of provision for income taxes, requires disclosure of disaggregated income taxes paid, and modifies other income tax-related disclosure requirements. The updated standard is effective beginning with the Company’s fiscal year 2025 annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its related disclosures. In March 2024, the Securities and Exchange Commission (SEC) issued Final Rule No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. If effected as issued, the rule would require registrants to provide certain climate related disclosures in their annual reports. While in April 2024 the SEC stayed Final Rule No. 33-11275 in connection with legal challenges to the rule, the Company is in the process of analyzing the impact of the rule on its related disclosures.

Other Financial Statement Infor

Other Financial Statement Information	3 Months Ended
Other Financial Statement Information	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Financial Statement Information	Other Financial Statement Information Available-for-sale Securities Available-for-sale securities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fair Value Measurement Cash equivalents: Money market funds $ 345,662 $ — $ — $ 345,662 $ 348,539 $ — $ — $ 348,539 Level 1 Marketable securities: Corporate debt securities 5,862 — (14) 5,848 10,022 — (51) 9,971 Level 2 Government debt securities 9,382 — (31) 9,351 18,152 — (125) 18,027 Level 2 Asset-backed securities 841 — (7) 834 1,425 — (12) 1,413 Level 2 Total available-for-sale securities $ 361,747 $ — $ (52) $ 361,695 $ 378,138 $ — $ (188) $ 377,950 The contractual maturities of marketable securities as of March 31, 2024 were as follows (in thousands): Fair Value Due in one year or less $ 15,199 Due after one year to five years 834 Total marketable securities $ 16,033 The Company incurred no material gross realized gains or losses from available-for-sales debt securities during the three months ended March 31, 2024. The Company incurred gross realized losses of $1.7 million and no gross realized gains from the sale of available-for-sales debt securities during the three months ended March 31, 2023. Realized gains (losses) on the sale of marketable securities are recorded in “Other expense, net” in the condensed consolidated statements of operations. The available-for-sale debt securities are subject to a periodic impairment review. For investments in an unrealized loss position, the Company determines whether a credit loss exists by considering information about the collectability of the instrument, current market conditions and reasonable and supportable forecasts of economic conditions. The Company recognizes an allowance for credit losses, up to the amount of the unrealized loss when appropriate, and writes down the amortized cost basis of the investment if it is more likely than not that the Company will be required or will intend to sell the investment before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in “Other expense, net,” and unrealized losses not related to credit losses are recognized in “Accumulated other comprehensive loss.” There are no allowances for credit losses for the periods presented. As of March 31, 2024, the gross unrealized losses on available-for-sale securities are related to market interest rate changes and not attributable to credit. Inventory Inventory was comprised of the following (in thousands): March 31, December 31, Purchased materials $ 39,159 $ 34,484 Work in progress 20,552 21,975 Finished goods 23,478 17,247 Inventory $ 83,189 $ 73,706 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): March 31, December 31, Land $ 36,765 $ 36,765 Building 146,346 146,044 Laboratory equipment and machinery 68,608 69,238 Computer equipment and software 15,897 16,379 Furniture and fixtures 10,644 10,979 Leasehold improvements 96,373 96,405 Construction in progress 5,247 7,252 Total property and equipment 379,880 383,062 Less: accumulated depreciation and amortization (110,394) (103,491) Property and equipment, net $ 269,486 $ 279,571 During the three months ended March 31, 2024, the Company recorded impairment charges of $2.1 million related to computer equipment and software of which $0.3 million, $0.7 million and $1.1 million was classified in cost of revenue, research and development, and selling, general and administrative expenses, respectively, in the condensed consolidated statement of operations. The impairment charge was triggered by a decision to discontinue a productivity engineering project. Accrued Compensation and Related Benefits Accrued compensation and related benefits were comprised of the following as of the dates indicated (in thousands): March 31, December 31, Accrued payroll and related costs $ 6,356 $ 2,262 Accrued bonus 6,510 18,254 Accrued commissions 2,701 6,410 Other 5,103 3,179 Accrued compensation and related benefits $ 20,670 $ 30,105 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities were comprised of the following as of the dates indicated (in thousands): March 31, December 31, Accrued purchase consideration $ — $ 20,000 Accrued legal and related costs 9,223 3,839 Accrued royalties for licensed technologies 5,847 5,455 Accrued property and equipment 1,899 3,199 Accrued professional services 4,596 6,577 Product warranties 9,707 8,116 Taxes payable 5,777 5,049 Other 5,375 4,413 Accrued expenses and other current liabilities $ 42,424 $ 56,648 Product Warranties Changes in the reserve for product warranties were as follows for the periods indicated (in thousands): Three Months Ended 2024 2023 Beginning of period $ 8,116 $ 3,023 Amounts charged to cost of revenue 2,355 1,630 Repairs and replacements (764) (1,447) End of period $ 9,707 $ 3,206 Revenue and Deferred Revenue As of March 31, 2024, the aggregate amount of remaining performance obligations related to separately sold extended warranty service agreements or allocated amounts for extended warranty service agreements bundled with sales of instruments was $24.1 million, of which approximately $14.3 million is expected to be recognized to revenue in the next 12 months, with the remainder thereafter. The contract liabilities of $24.1 million and $22.0 million as of March 31, 2024 and December 31, 2023, respectively, consisted of deferred revenue related to extended warranty service agreements. The following revenue recognized for the periods were included in contract liabilities as of December 31, 2023 and December 31, 2022, respectively (in thousands): Three Months Ended 2024 2023 Deferred revenue recognized $ 6,928 $ 2,107 The following table represents revenue by source for the periods indicated (in thousands). Spatial products include the Company’s Visium and Xenium products: Three Months Ended 2024 2023 Instruments Chromium $ 7,850 $ 11,626 Spatial 17,603 7,550 Total instruments revenue 25,453 19,176 Consumables Chromium 83,927 101,096 Spatial 26,408 11,282 Total consumables revenue 110,335 112,378 Services 5,218 2,731 Total revenue $ 141,006 $ 134,285 The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands): Three Months Ended 2024 2023 Americas United States $ 75,637 $ 76,281 Americas (excluding United States) 3,993 2,515 Total Americas 79,630 78,796 Europe, Middle East and Africa 34,721 28,422 Asia-Pacific China 13,924 14,031 Asia-Pacific (excluding China) 12,731 13,036 Total Asia-Pacific 26,655 27,067 Total Revenue $ 141,006 $ 134,285

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Agreements The Company leases office, laboratory, manufacturing, distribution and server space in various locations worldwide. Future net lease payments related to the Company’s operating lease liabilities as of March 31, 2024 is as follows (in thousands): Operating Leases 2024 (excluding the three months ended March 31, 2024) $ 12,385 2025 14,828 2026 15,377 2027 15,584 2028 15,747 Thereafter 40,655 Total lease payments $ 114,576 Less: imputed interest (22,400) Present value of operating lease liabilities $ 92,176 Operating lease liabilities, current $ 11,127 Operating lease liabilities, noncurrent 81,049 Total operating lease liabilities $ 92,176 The following table summarizes additional information related to operating leases as of March 31, 2024: March 31, December 31, 2023 Weighted-average remaining lease term 7.3 years 7.5 years Weighted-average discount rate 5.9 % 5.9 % Litigation The Company is regularly subject to lawsuits, claims, arbitration proceedings, administrative actions and other legal and regulatory proceedings involving intellectual property disputes, commercial disputes, competition and other matters, and the Company may become subject to additional types of lawsuits, claims, arbitration proceedings, administrative actions, government investigations and legal and regulatory proceedings in the future. NanoString On May 6, 2021, the Company filed suit against NanoString Technologies, Inc. (“NanoString”) in the U.S. District Court for the District of Delaware alleging that NanoString’s GeoMx Digital Spatial Profiler and associated instruments and reagents infringe U.S. Patent Nos. 10,472,669, 10,662,467, 10,961,566, 10,983,113 and 10,996,219 (the “GeoMx Action”). On May 19, 2021, the Company filed an amended complaint additionally alleging that the GeoMx products infringe U.S. Patent Nos. 11,001,878 and 11,008,607. On May 4, 2022, the Company filed an amended complaint in the GeoMx Action additionally alleging that the GeoMx products infringe U.S. Patent No. 11,293,917 and withdrawing the Company’s claims of infringement of U.S. Patent No. 10,662,467. The Company is seeking, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to NanoString’s making, using, selling, offering to sell, exporting and/or importing in the United States the GeoMx Digital Spatial Profiler and associated instruments and reagents. NanoString filed its answer to the GeoMx Action on May 18, 2022. A Markman hearing was held on February 17, 2023 and the Court issued its claim construction order on February 28, 2023. On September 7, 2023, the Court issued an order granting the Company’s motion for summary judgment that the asserted patents are not invalid for indefiniteness and denying NanoString’s motion for summary judgment that the asserted patents are invalid for indefiniteness and lack of written description. On November 17, 2023, a jury found that NanoString willfully infringed the asserted patents and that the asserted patents are valid. The jury awarded the Company more than $31 million in damages, consisting of approximately $25 million in lost profits and approximately $6 million in royalties. Post-trial motions, including the Company’s motions for a permanent injunction, ongoing royalties, enhanced damages, attorneys’ fees and pre- and post-judgment interest, are pending. NanoString filed for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code in the U.S. bankruptcy court in Delaware on February 4, 2024, and the Court’s consideration of these post-trial motions is currently stayed due to the bankruptcy filing. Due to the uncertainties in collecting the jury award, the Company has not recorded a receivable from NanoString as of March 31, 2024. On February 28, 2022, the Company filed a second suit against NanoString in the U.S. District Court for the District of Delaware alleging that NanoString’s CosMx Spatial Molecular Imager and associated instruments, reagents and services infringe U.S. Patent Nos. 10,227,639 and 11,021,737 (the “CosMx Action”). On May 12, 2022, the Company filed an amended complaint in the CosMx Action additionally alleging that the CosMx products additionally infringe U.S. Patent Nos. 11,293,051, 11,293,052 and 11,293,054. NanoString filed its answer to the CosMx Action on May 26, 2022. On March 1, 2023, the Company filed a second amended complaint additionally alleging that the CosMx products infringe U.S. Patent No. 11,542,554. The Company is seeking, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to NanoString’s making, using, selling, offering to sell, exporting and/or importing in the United States the CosMx Spatial Molecular Imager and associated instruments, reagents and services. NanoString filed its answer to the second amended complaint on March 22, 2023. Discovery is in progress. A Markman hearing was held on January 10, 2024, and the Court issued its claim construction order on February 1, 2024. On August 16, 2022, NanoString filed a counterclaim in the CosMx Action alleging that the Company’s Visium products infringe U.S. Patent No. 11,377,689 (the “689 patent”). The Company filed its answer to NanoString’s counterclaim in the CosMx Action on August 30, 2022. On November 23, 2022, the Company moved to sever claims relating to NanoString’s assertion of the 689 patent and consolidate those claims with the patent case NanoString filed against the Company on October 20, 2022 (discussed below). On January 24, 2023, the Court granted the Company’s motion. On May 1, 2023, NanoString filed a motion in the CosMx Action to add antitrust, unfair competition, tort and contract counterclaims. NanoString seeks, among other relief, injunction relief (including that the Company grant NanoString a license to the patents that the Company asserted against NanoString in the CosMx Action) and unspecified damages (including attorneys’ fees). On July 10, 2023, the Court denied NanoString’s motion for leave to add a contract counterclaim but otherwise granted the motion for leave to amend. On May 24, 2023, NanoString filed a motion to bifurcate its amended counterclaims and a motion for expedited discovery. On June 6, 2023, the Court denied NanoString’s motion to bifurcate and granted its motion for expedited discovery. The Company believes NanoString’s claims are meritless and intends to vigorously defend itself. On October 20, 2022, NanoString filed suit against the Company in the U.S. District Court for the District of Delaware alleging that the Company’s Visium products infringe U.S. Patent No. 11,473,142 (the “142 patent”), a continuation of the 689 patent (the “NanoString Action”). NanoString seeks, among other relief, injunctive relief and unspecified damages (including attorneys’ fees) in relation to the Company’s making, using, selling, offering to sell, exporting and/or importing in the United States Visium products and associated instruments, reagents and services. On January 24, 2023, the Court severed NanoString’s claims with respect to the 689 patent from the CosMx Action and consolidated those claims with this action. NanoString filed an amended complaint on January 27, 2023. The Company filed an answer to the NanoString Action on February 10, 2023. Discovery is in progress. A Markman hearing was held on January 10, 2024, and the Court issued its claim construction order on February 1, 2024. The Company believes NanoString’s claims in the NanoString Action are meritless and intends to vigorously defend itself. On August 16 and September 25, 2023, the Company filed petitions for inter partes review (“IPR”) of the 689 patent and the 142 patent, respectively. On February 1, 2024, IPR was instituted for the 689 patent. An institution decision for the IPR against the 142 patent is pending. On March 9, 2022, the Company filed suit in the Munich Regional Court in Germany alleging that NanoString’s CosMx Spatial Molecular Imager and associated instruments, reagents and services infringe EP Patent No. 2794928B1 (the “EP928 patent”) (the “Germany CosMx Action”). A hearing on infringement was held on March 23, 2023. On May 17, 2023, the Munich Regional Court found that the CosMx products infringe the EP928 patent and issued a permanent injunction requiring NanoString to stop selling and supplying CosMx instruments and reagents for RNA detection in Germany. The injunction took effect on June 1, 2023. On May 25, 2023, NanoString filed an appeal of the Germany CosMx Action in the Munich Higher Regional Court. A hearing date has not yet been set for this appeal. On October 30, 2023, NanoString requested that the Higher Regional Court temporarily stay enforcement of the injunction pending the appeal. On December 20, 2023, the Higher Regional Court granted NanoString’s request conditioned upon NanoString posting a 2.3 million Euro security deposit. To date, NanoString has not posted this security deposit. On July 29, 2022, NanoString filed a nullity action with the German Federal Patent Court challenging the validity of the EP 928 patent. On February 10, 2023, the Federal Patent Court issued a preliminary opinion upholding the validity of certain claims of the EP 928 patent directed to in situ analysis. A hearing on validity is scheduled before the Federal Patent Court in May 2024. On June 1, 2023, the Company filed requests for preliminary injunctions in the Munich Local Division of the Unified Patent Court (“UPC”) alleging that NanoString’s CosMx Spatial Molecular Imager and associated instruments, reagents and services for RNA detection infringe the EP928 patent and EP Patent No. 4108782 (the “EP782 patent”). Hearings were held for the EP 782 and EP 928 patents on September 5 and September 19, respectively. On September 19, 2023, the UPC granted the Company’s request for the EP782 patent and issued a preliminary injunction requiring NanoString to stop selling and supplying CosMx instruments and reagents for RNA detection in all 17 UPC member states. On October 10, 2023, the UPC denied the Company’s preliminary injunction request for the EP928 patent. On October 2, 2023, NanoString filed an appeal of the preliminary injunction for the EP782 patent in the UPC Court of Appeals. A hearing was held before the UPC Court of Appeals on December 18, 2023. The UPC Court of Appeals overturned the preliminary injunction on February 26, 2024. On August 31 and September 18, 2023 the Company filed main requests in the Munich Local Division of the UPC alleging that NanoString's CosMx Spatial Molecular Imager and associated instruments, reagents and services for RNA detection infringe the EP 782 and EP 928 patents, respectively. No hearings have yet been set for these main requests. On July 18, 2023, NanoString filed an opposition in the European Patent Office challenging the validity of the EP782 patent. No schedule has yet been set for this opposition. On July 27, 2023, NanoString filed a revocation action in the Munich Central Division of the UPC challenging the validity of the EP928 patent. On January 30, 2024, NanoString filed a petition for IPR of U.S. Patent No. 11,542,554, which is asserted by the Company against NanoString in the CosMx Action. The impact of NanoString’s bankruptcy filing on the Company’s actions against NanoString outside of the U.S. District Court for the District of Delaware is not yet fully resolved. Vizgen On May 3, 2022, the Company filed suit against Vizgen, Inc. (“Vizgen”) in the U.S. District Court for the District of Delaware alleging that Vizgen’s MERSCOPE Platform and workflow and/or Vizgen’s Lab Services program, including associated instruments and reagents, infringe U.S. Patent Nos. 11,021,737, 11,293,051, 11,293,052, 11,293,054 and 11,299,767. The Company seeks, among other relief, injunction relief and unspecified damages (including attorneys’ fees) in relation to Vizgen’s making, using, selling, offering to sell, exporting and/or importing in the United States the MERSCOPE Platform and workflow and/or Vizgen’s Lab Services program, including associated instruments and reagents. On July 25, 2022, Vizgen filed a motion to dismiss the Company’s claims for willful and indirect infringement, which the Court denied on September 19, 2022. Discovery is in progress. A Markman hearing was held on January 10, 2024, and the Court issued its claim construction order on February 1, 2024. On August 30, 2022, Vizgen filed its answer and counterclaims alleging that the Company’s Xenium product infringes U.S. Patent No. 11,098,303 (the “303 patent”). Vizgen seeks, among other relief, injunction relief and unspecified damages (including attorneys’ fees) in relation to the Company’s making, using, selling, offering to sell, exporting and/or importing in the United States Xenium products, including associated instruments and reagents. Vizgen also filed counterclaims alleging that the Company tortiously interfered with Vizgen’s contractual and business relationship with Harvard and that the Company engaged in unfair practices under Massachusetts state law. On October 27, 2022, the Company filed a partial answer and motion to dismiss the infringement counterclaim and the tort counterclaims. On February 2, 2023, the Company’s motion to dismiss was denied. The Company believes Vizgen’s claims are meritless and intends to vigorously defend itself. On March 15, 2023, the Company filed an amended complaint additionally alleging that the MERSCOPE Platform and workflow and Vizgen’s Lab Services program infringe U.S. Patent No. 11,549,136 and withdrawing its claim of infringement of U.S. Patent No. 11,293,054. On April 17, 2023, Vizgen filed its answer adding amended counterclaims including antitrust, unfair competition, tort and contract counterclaims. Vizgen seeks, among other relief, injunctive relief (including that the Company grant Vizgen a license to the patents that the Company asserted against Vizgen) and unspecified damages (including attorneys’ fees). On May 18, 2023, the Company filed a motion to dismiss Vizgen’s amended counterclaims. On July 10, 2023, the Court granted the Company’s motion to dismiss Vizgen’s contract counterclaim but otherwise denied the Company’s motion to dismiss. The Company believes Vizgen’s claims are meritless and intends to vigorously defend itself. On June 1, 2023, the Company filed suit in the Hamburg Local Division of the Unified Patent Court alleging that Vizgen’s MERSCOPE products infringe the EP782 patent. The Company seeks, among other relief, injunction relief and unspecified damages (including attorneys’ fees) in relation to Vizgen’s MERSCOPE products in all 17 UPC member states. A hearing has not yet been set. On August 30, 2023, the Company filed a petition for IPR of the 303 patent. Institution was denied on March 7, 2024. On April 17, 2024, Vizgen filed a motion for leave to amend its counterclaims to add additional antitrust counterclaims alleging bundling and predatory pricing. The Court granted Vizgen’s motion for leave to amend on April 26, 2024. The Company believes Vizgen’s claims are meritless and intends to vigorously defend itself. Trial on the Company’s claims and on Vizgen’s counterclaims is scheduled for February 2025. Parse On August 24, 2022, the Company filed suit against Parse Biosciences, Inc. (“Parse”) in the U.S. District Court for the District of Delaware alleging that Parse’s Evercode Whole Transcriptomics products and ATAC-seq products infringe U.S. Patent Nos. 10,155,981 (the “981 patent”), 10,697,013 (the “013 patent”), 10,240,197 (the “197 patent”), 10,150,995, 10,619,207 and 10,738,357. The Company seeks, among other relief, injunction relief and unspecified damages (including attorneys’ fees) in relation to Parse’s making, using, selling, offering to sell, exporting and/or importing in the United States Parse’s Evercode Whole Transcriptomics products and ATAC-seq products. On October 17, 2022, Parse filed a motion to dismiss alleging that the asserted claims are directed to patent ineligible subject matter. The Court held a hearing on the motion to dismiss on November 22, 2022, and supplemental briefing was submitted on December 15, 2022. On September 14, 2023, the Court denied the motion. Parse filed its answer on October 6, 2023. Discovery is in progress. A Markman hearing is scheduled for February 2024, and trial is scheduled for December 2024. Between April 20 and June 21, 2023, Parse filed petitions for IPR of all of the patents asserted. On October 13, 2023, IPR was instituted on the 981 patent. The PTAB denied institution of Parse’s petitions for IPR on the other five asserted patents. On January 2 and 5, 2024, Parse filed rehearing requests with the PTAB for the 197 and 013 patents, respectively. On February 5, 2024, the PTAB instituted IPRs for the 197 and 013 patents on Parse’s requests for rehearing. On November 6, 2023, Parse filed a motion to stay the Delaware action pending the IPRs. On December 21, 2023, the court denied Parse’s motion to stay. On February 8, 2024, Parse filed a renewed motion to stay. On February 20, 2024, the court denied Parse’s renewed motion to stay. Curio On December 1, 2023, the Company filed suit against Curio Bioscience, Inc. (“Curio”) in the U.S. District Court for the District of Delaware alleging that the Curio Seeker Spatial Mapping Kit and associated products and services infringe U.S. Patent Nos. 10,480,022, 10,662,468, 11,001,879, 11,549,138, and 11,761,030. On February 1, 2024, Curio filed a motion to dismiss alleging that the asserted claims are directed to patent ineligible subject matter. Trial is scheduled for May 2026. On December 4, 2023, the Company filed a request for a preliminary injunction in the Dusseldorf Local Division of the UPC alleging that the Curio Seeker Spatial Mapping Kit and associated products and services infringe EP Patent No. 2697391 (the “EP 391 patent”). A hearing was held on March 26, 2024. On April 30, 2024, the UPC granted the Company’s request and issued a preliminary injunction requiring Curio to stop offering, marketing, using or possessing these Curio Seeker products and services in Germany, France and Sweden. The preliminary injunction is enforceable upon provision of a 2.0 million Euro security by the Company.

Capital Stock

Capital Stock	3 Months Ended
Capital Stock	Mar. 31, 2024
Equity [Abstract]
Capital Stock	Capital Stock As of March 31, 2024, the number of shares of Class A common stock and Class B common stock issued and outstanding were 105,644,016 and 14,056,833, respectively. The following table represents the number of shares of Class B common stock converted to shares of Class A common stock upon the election of the holders of such shares during the periods: Three Months Ended 2024 2023 Class B common stock converted to Class A common stock — 600,000

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
Equity Incentive Plans	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	Equity Incentive Plans Stock-based Compensation The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands): Three Months Ended 2024 2023 Cost of revenue $ 2,033 $ 1,461 Research and development 16,888 17,780 Selling, general and administrative 17,208 22,860 Total stock-based compensation expense $ 36,129 $ 42,101 Restricted Stock Units Restricted stock unit activity for the three months ended March 31, 2024 is as follows: Restricted Stock Weighted-Average Outstanding as of December 31, 2023 5,334,134 $ 48.26 Granted 992,112 41.74 Vested (445,112) 59.12 Cancelled (302,316) 46.32 Outstanding as of March 31, 2024 5,578,818 $ 46.34 Stock Options Stock option activity for the three months ended March 31, 2024 is as follows: Stock Options Weighted-Average Outstanding as of December 31, 2023 5,946,786 $ 42.17 Exercised (160,375) 10.21 Cancelled and forfeited (182,251) 41.53 Outstanding as of March 31, 2024 5,604,160 $ 43.11 Performance Stock Awards In March 2024, the Company granted 219,168 performance stock units (PSUs) under the 2019 Plan to certain members of management which are subject to the achievement of certain performance conditions established by the Company’s Compensation Committee of the Board of Directors as described below: i. 50% of target PSUs earned will be based on the Company’s compound annual growth rate (CAGR) of the Company’s Revenue over a two-year performance period from January 1, 2024 to December 31, 2025. Holders may earn from 0% to 175% of the target amount of shares and earned PSUs will then be subject to service-based vesting; and ii. 50% of target PSUs earned will be based on the relative Total Shareholder Return (TSR) of the Company’s common stock as compared to the TSR of the members of the Russell 3000 Medical Equipment and Services Sector Index over a three-year performance period from January 1, 2024 to December 31, 2026. Depending on the results relative to the TSR market condition, the holders may earn from 0% to 200% of the target amount of shares which will vest at the end of the performance period. The PSUs will be forfeited if the performance conditions are not achieved at the end of the relative performance periods as described above. The vesting of the PSUs can also be triggered upon certain change in control events or in the event of death or disability. The weighted-average grant date fair values of the PSUs relating to CAGR and TSR components were $37.43 and $44.80 per share respectively. Stock-based compensation expense recognized for these awards was approximately $0.1 million for the three months ended March 31, 2024. The Company estimates the fair values of shares granted under the market-based TSR PSUs using a Monte Carlo simulation model with the following assumptions: Expected volatility 66% Risk-free interest rate 4.5% Expected dividend yield —% In March 2023, the Company granted 172,842 PSUs under the 2019 Plan to certain members of management, which are subject to the achievement of certain stock price thresholds established by the Company’s Compensation Committee of the Board of Directors. As of March 31, 2024, the performance periods for the 2024 PSUs were not completed and none of the stock price thresholds for the 2023 PSUs had been met resulting in no shares vesting or becoming exercisable. 2019 Employee Stock Purchase Plan A total of 3,686,671 shares of Class A common stock were reserved for issuance under the 2019 Employee Stock Purchase Plan (“ESPP”). The price at which Class A common stock is purchased under the ESPP is equal to 85% of the fair market value of the common stock on the first day of the offering period or purchase date, whichever is lower. During the three months ended March 31, 2024 and 2023, no shares of Class A common stock were issued under the ESPP. As of March 31, 2024, there were 3,091,063 shares available for issuance under the ESPP.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
Net Loss Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: Three Months Ended 2024 2023 Stock options to purchase common stock 5,604,160 7,556,361 Restricted stock units 5,578,818 5,871,150 Shares committed under ESPP 116,883 100,253 Total 11,299,861 13,527,764

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (59,949)	$ (50,747)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
James L. Wilbur [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 13, 2023, James L. Wilbur, our former Chief Commercial Officer, adopted a Rule 10b5-1 trading arrangement that was intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 147,095 shares of the Company’s common stock. The expiration date of the trading arrangement was December 31, 2024. On February 21, 2024, the trading arrangement was terminated at the election of Dr. Wilbur.
Name	James L. Wilbur
Title	Chief Commercial Officer
Rule 10b5-1 Arrangement Adopted	true
Termination Date	February 21, 2024
Aggregate Available	147,095
Shehnaaz Suliman [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On March 10, 2024, Shehnaaz Suliman, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 20,016 shares of the Company’s common stock. The expiration date of the trading arrangement is June 14, 2024.
Name	Shehnaaz Suliman
Title	Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 10, 2024
Arrangement Duration	96 days
Aggregate Available	20,016
Benjamin J. Hindson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On March 11, 2024, Benjamin J. Hindson, Chief Scientific Officer and President, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 22,496 shares of the Company’s common stock plus up to 190,845 carryover shares from a prior 10b5-1 plan that will expire on June 14, 2024, subject to certain conditions. The expiration date of the trading arrangement is June 13, 2025.
Name	Benjamin J. Hindson
Title	Chief Scientific Officer and President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 11, 2024
Arrangement Duration	95 days
Benjamin J. Hindson Rule Trading Arrangement, Common Stock [Member] \| Benjamin J. Hindson [Member]
Trading Arrangements, by Individual
Aggregate Available	22,496
Benjamin J. Hindson Rule Trading Arrangement, Carryover Shares [Member] \| Benjamin J. Hindson [Member]
Trading Arrangements, by Individual
Aggregate Available	190,845

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements, which include the Company’s accounts and the accounts of its wholly-owned subsidiaries, are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The condensed consolidated balance sheets at December 31, 2023 have been derived from the audited consolidated financial statements of the Company at that date. Certain information and footnote disclosures typically included in the Company’s audited consolidated financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. All intercompany transactions and balances have been eliminated. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company generates revenue from sales of products and services, and its products consist of instruments and consumables. Revenue from product sales is recognized when control of the product is transferred, which is generally upon shipment to the customer. Instrument service agreements, which relate to extended warranties, are typically entered into for one-year terms, following the expiration of the standard one-year warranty period. Revenue for extended warranties is recognized ratably over the term of the extended warranty period as a stand ready performance obligation. Revenue is recorded net of discounts, distributor commissions and sales taxes collected on behalf of governmental authorities. Customers are invoiced generally upon shipment, or upon order for services, and payment is typically due within 30 days. Cash received from customers in advance of product shipment or providing services is recorded as a contract liability. The Company’s contracts with its customers generally do not include rights of return or a significant financing component. The Company regularly enters into contracts that include various combinations of products and services which are generally distinct and accounted for as separate performance obligations. The transaction price is allocated to each performance obligation in proportion to its standalone selling price. The Company determines standalone selling price using average selling prices with consideration of current market conditions. If the product or service has no history of sales or if the sales volume is not sufficient, the Company relies upon prices set by management, adjusted for applicable discounts.
Net Loss Per Share	Net Loss Per Share Net loss per share is computed using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights and sharing of losses, of the Class A common stock and Class B common stock are identical, other than voting rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, adjusted for outstanding shares that are subject to repurchase. For the calculation of diluted net loss per share, basic net loss per share is adjusted by the effect of dilutive securities including awards under the Company’s equity compensation plans. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. For periods in which the Company reports net losses, diluted net loss per share is the same as basic net loss per share because potentially dilutive shares of common stock are not assumed to have been issued if their effect is anti-dilutive.
Recently Issued Accounting Pronouncement and Disclosure Rules	Recently Issued Accounting Pronouncement and Disclosure Rules In December 2023, the FASB issued ASU No. 2023-09, Income Taxes, which prescribes standardized categories and disaggregation of information in the reconciliation of provision for income taxes, requires disclosure of disaggregated income taxes paid, and modifies other income tax-related disclosure requirements. The updated standard is effective beginning with the Company’s fiscal year 2025 annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its related disclosures. In March 2024, the Securities and Exchange Commission (SEC) issued Final Rule No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. If effected as issued, the rule would require registrants to provide certain climate related disclosures in their annual reports. While in April 2024 the SEC stayed Final Rule No. 33-11275 in connection with legal challenges to the rule, the Company is in the process of analyzing the impact of the rule on its related disclosures.

Other Financial Statement Inf_2

Other Financial Statement Information (Tables)	3 Months Ended
Other Financial Statement Information (Tables)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Marketable Securities	Available-for-sale securities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Fair Value Measurement Cash equivalents: Money market funds $ 345,662 $ — $ — $ 345,662 $ 348,539 $ — $ — $ 348,539 Level 1 Marketable securities: Corporate debt securities 5,862 — (14) 5,848 10,022 — (51) 9,971 Level 2 Government debt securities 9,382 — (31) 9,351 18,152 — (125) 18,027 Level 2 Asset-backed securities 841 — (7) 834 1,425 — (12) 1,413 Level 2 Total available-for-sale securities $ 361,747 $ — $ (52) $ 361,695 $ 378,138 $ — $ (188) $ 377,950
Schedule of Debt Securities, Available-for-sale	The contractual maturities of marketable securities as of March 31, 2024 were as follows (in thousands): Fair Value Due in one year or less $ 15,199 Due after one year to five years 834 Total marketable securities $ 16,033
Schedule of Inventory	Inventory was comprised of the following (in thousands): March 31, December 31, Purchased materials $ 39,159 $ 34,484 Work in progress 20,552 21,975 Finished goods 23,478 17,247 Inventory $ 83,189 $ 73,706
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): March 31, December 31, Land $ 36,765 $ 36,765 Building 146,346 146,044 Laboratory equipment and machinery 68,608 69,238 Computer equipment and software 15,897 16,379 Furniture and fixtures 10,644 10,979 Leasehold improvements 96,373 96,405 Construction in progress 5,247 7,252 Total property and equipment 379,880 383,062 Less: accumulated depreciation and amortization (110,394) (103,491) Property and equipment, net $ 269,486 $ 279,571
Schedule of Accrued Compensation and Related Benefits	Accrued compensation and related benefits were comprised of the following as of the dates indicated (in thousands): March 31, December 31, Accrued payroll and related costs $ 6,356 $ 2,262 Accrued bonus 6,510 18,254 Accrued commissions 2,701 6,410 Other 5,103 3,179 Accrued compensation and related benefits $ 20,670 $ 30,105
Schedule of Accrued Expense and Other Current Liabilities	Accrued expenses and other current liabilities were comprised of the following as of the dates indicated (in thousands): March 31, December 31, Accrued purchase consideration $ — $ 20,000 Accrued legal and related costs 9,223 3,839 Accrued royalties for licensed technologies 5,847 5,455 Accrued property and equipment 1,899 3,199 Accrued professional services 4,596 6,577 Product warranties 9,707 8,116 Taxes payable 5,777 5,049 Other 5,375 4,413 Accrued expenses and other current liabilities $ 42,424 $ 56,648
Schedule of Changes in the Reserve for Product Warranties	Changes in the reserve for product warranties were as follows for the periods indicated (in thousands): Three Months Ended 2024 2023 Beginning of period $ 8,116 $ 3,023 Amounts charged to cost of revenue 2,355 1,630 Repairs and replacements (764) (1,447) End of period $ 9,707 $ 3,206
Schedule of Revenue of Recognized in Contract Liabilities	The following revenue recognized for the periods were included in contract liabilities as of December 31, 2023 and December 31, 2022, respectively (in thousands): Three Months Ended 2024 2023 Deferred revenue recognized $ 6,928 $ 2,107
Schedule of Revenue by Source	The following table represents revenue by source for the periods indicated (in thousands). Spatial products include the Company’s Visium and Xenium products: Three Months Ended 2024 2023 Instruments Chromium $ 7,850 $ 11,626 Spatial 17,603 7,550 Total instruments revenue 25,453 19,176 Consumables Chromium 83,927 101,096 Spatial 26,408 11,282 Total consumables revenue 110,335 112,378 Services 5,218 2,731 Total revenue $ 141,006 $ 134,285
Schedule of Revenue by Geographic Location	The following table presents revenue by geography based on the location of the customer for the periods indicated (in thousands): Three Months Ended 2024 2023 Americas United States $ 75,637 $ 76,281 Americas (excluding United States) 3,993 2,515 Total Americas 79,630 78,796 Europe, Middle East and Africa 34,721 28,422 Asia-Pacific China 13,924 14,031 Asia-Pacific (excluding China) 12,731 13,036 Total Asia-Pacific 26,655 27,067 Total Revenue $ 141,006 $ 134,285

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Company's Operating Lease Liabilities	Future net lease payments related to the Company’s operating lease liabilities as of March 31, 2024 is as follows (in thousands): Operating Leases 2024 (excluding the three months ended March 31, 2024) $ 12,385 2025 14,828 2026 15,377 2027 15,584 2028 15,747 Thereafter 40,655 Total lease payments $ 114,576 Less: imputed interest (22,400) Present value of operating lease liabilities $ 92,176 Operating lease liabilities, current $ 11,127 Operating lease liabilities, noncurrent 81,049 Total operating lease liabilities $ 92,176
Schedule of Additional Information Related to Operating Leases	The following table summarizes additional information related to operating leases as of March 31, 2024: March 31, December 31, 2023 Weighted-average remaining lease term 7.3 years 7.5 years Weighted-average discount rate 5.9 % 5.9 %

Capital Stock (Tables)

Capital Stock (Tables)	3 Months Ended
Capital Stock (Tables)	Mar. 31, 2024
Equity [Abstract]
Schedule of Common Stock Issued and Outstanding	The following table represents the number of shares of Class B common stock converted to shares of Class A common stock upon the election of the holders of such shares during the periods: Three Months Ended 2024 2023 Class B common stock converted to Class A common stock — 600,000

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
Equity Incentive Plans (Tables)	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Recorded Stock-based Compensation Expense in the Condensed Consolidated Statement of Operations	The Company recorded stock-based compensation expense in the condensed consolidated statement of operations for the periods presented as follows (in thousands): Three Months Ended 2024 2023 Cost of revenue $ 2,033 $ 1,461 Research and development 16,888 17,780 Selling, general and administrative 17,208 22,860 Total stock-based compensation expense $ 36,129 $ 42,101
Schedule of RSU Activity	Restricted stock unit activity for the three months ended March 31, 2024 is as follows: Restricted Stock Weighted-Average Outstanding as of December 31, 2023 5,334,134 $ 48.26 Granted 992,112 41.74 Vested (445,112) 59.12 Cancelled (302,316) 46.32 Outstanding as of March 31, 2024 5,578,818 $ 46.34
Schedule of the Company's Stock Option Activity	Stock option activity for the three months ended March 31, 2024 is as follows: Stock Options Weighted-Average Outstanding as of December 31, 2023 5,946,786 $ 42.17 Exercised (160,375) 10.21 Cancelled and forfeited (182,251) 41.53 Outstanding as of March 31, 2024 5,604,160 $ 43.11
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The Company estimates the fair values of shares granted under the market-based TSR PSUs using a Monte Carlo simulation model with the following assumptions: Expected volatility 66% Risk-free interest rate 4.5% Expected dividend yield —%

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
Net Loss Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Shares of Common Stock Equivalents Excluded from Computation of Diluted Net Loss Per Share	The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: Three Months Ended 2024 2023 Stock options to purchase common stock 5,604,160 7,556,361 Restricted stock units 5,578,818 5,871,150 Shares committed under ESPP 116,883 100,253 Total 11,299,861 13,527,764

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Revenue recognition, payment due period	30 days

Other Financial Statement Inf_3

Other Financial Statement Information - Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Gross Unrealized Gains	$ 0	$ 0
Gross Unrealized Losses	(52)	(188)
Marketable securities, fair value	16,033
Total available-for-sale securities, amortized cost	361,747	378,138
Total available-for-sale securities, fair value	361,695	377,950
Money market funds \| Level 1
Marketable Securities [Line Items]
Money market funds	345,662	348,539
Corporate debt securities \| Level 2
Marketable Securities [Line Items]
Total marketable securities	5,862	10,022
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(14)	(51)
Marketable securities, fair value	5,848	9,971
Government debt securities \| Level 2
Marketable Securities [Line Items]
Total marketable securities	9,382	18,152
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(31)	(125)
Marketable securities, fair value	9,351	18,027
Asset-backed securities \| Level 2
Marketable Securities [Line Items]
Total marketable securities	841	1,425
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(7)	(12)
Marketable securities, fair value	$ 834	$ 1,413

Other Financial Statement Inf_4

Other Financial Statement Information - Contractual Maturities of Marketable Securities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Fair Value
Due in one year or less	$ 15,199
Due after one year to five years	834
Total marketable securities	$ 16,033

Other Financial Statement Inf_5

Other Financial Statement Information - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Concentration Risk [Line Items]
Debt securities, available-for-sale, realized gain (loss)	$ 0
Debt securities, available-for-sale, realized loss		$ 1,700,000
Debt securities, available-for-sale, realized gain		$ 0
Transaction price allocated to remaining performance obligations	24,100,000
Deferred revenue	14,296,000		$ 13,150,000
Contract liability	$ 24,100,000		$ 22,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Concentration Risk [Line Items]
Expected period of revenue recognition	12 months
Computer equipment and software
Concentration Risk [Line Items]
Impairment of long lived assets	$ 2,100,000
Cost of Revenue
Concentration Risk [Line Items]
Impairment of long lived assets	300,000
Research and development
Concentration Risk [Line Items]
Impairment of long lived assets	700,000
Selling, general and administrative
Concentration Risk [Line Items]
Impairment of long lived assets	1,100,000
Products and Services, Excluding Grant Revenue
Concentration Risk [Line Items]
Deferred revenue	$ 14,300,000

Other Financial Statement Inf_6

Other Financial Statement Information - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Purchased materials	$ 39,159	$ 34,484
Work in progress	20,552	21,975
Finished goods	23,478	17,247
Inventory	$ 83,189	$ 73,706

Other Financial Statement Inf_7

Other Financial Statement Information - Schedule Of Property Plant And Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 379,880	$ 383,062
Less: accumulated depreciation and amortization	(110,394)	(103,491)
Property and equipment, net	269,486	279,571
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	36,765	36,765
Building
Property, Plant and Equipment [Line Items]
Total property and equipment	146,346	146,044
Laboratory equipment and machinery
Property, Plant and Equipment [Line Items]
Total property and equipment	68,608	69,238
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total property and equipment	15,897	16,379
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	10,644	10,979
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	96,373	96,405
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 5,247	$ 7,252

Other Financial Statement Inf_8

Other Financial Statement Information - Schedule of Accrued Compensation and Related Benefits (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and related costs	$ 6,356	$ 2,262
Accrued bonus	6,510	18,254
Accrued commissions	2,701	6,410
Other	5,103	3,179
Accrued compensation and related benefits	$ 20,670	$ 30,105

Other Financial Statement Inf_9

Other Financial Statement Information - Schedule of Accrued Expense And Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued purchase consideration	$ 0	$ 20,000
Accrued legal and related costs	9,223	3,839
Accrued royalties for licensed technologies	5,847	5,455
Accrued property and equipment	1,899	3,199
Accrued professional services	4,596	6,577
Product warranties	9,707	8,116
Taxes payable	5,777	5,049
Other	5,375	4,413
Accrued expenses and other current liabilities	$ 42,424	$ 56,648

Other Financial Statement In_10

Other Financial Statement Information - Schedule of Changes in the Reserve for Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning of period	$ 8,116	$ 3,023
Amounts charged to cost of revenue	2,355	1,630
Repairs and replacements	(764)	(1,447)
End of period	$ 9,707	$ 3,206

Other Financial Statement In_11

Other Financial Statement Information - Schedule of Revenue of Recognized in Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue recognized	$ 6,928	$ 2,107

Other Financial Statement In_12

Other Financial Statement Information - Schedule of Revenue by Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from External Customer [Line Items]
Total revenue	$ 141,006	$ 134,285
Instruments
Revenue from External Customer [Line Items]
Total revenue	25,453	19,176
Chromium
Revenue from External Customer [Line Items]
Total revenue	7,850	11,626
Spatial
Revenue from External Customer [Line Items]
Total revenue	17,603	7,550
Consumables
Revenue from External Customer [Line Items]
Total revenue	110,335	112,378
Chromium
Revenue from External Customer [Line Items]
Total revenue	83,927	101,096
Spatial
Revenue from External Customer [Line Items]
Total revenue	26,408	11,282
Services
Revenue from External Customer [Line Items]
Total revenue	$ 5,218	$ 2,731

Other Financial Statement In_13

Other Financial Statement Information - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 141,006	$ 134,285
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	79,630	78,796
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	75,637	76,281
Americas (excluding United States)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	3,993	2,515
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	34,721	28,422
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	26,655	27,067
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	13,924	14,031
Asia-Pacific (excluding China)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 12,731	$ 13,036

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Company's Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating Leases
2024 (excluding the three months ended March 31, 2024)	$ 12,385
2025	14,828
2026	15,377
2027	15,584
2028	15,747
Thereafter	40,655
Total lease payments	114,576
Less: imputed interest	(22,400)
Present value of operating lease liabilities	92,176
Operating lease liabilities, current	11,127	$ 11,521
Operating lease liabilities, noncurrent	81,049	$ 83,849
Total operating lease liabilities	$ 92,176

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Additional Information Related to Operating Leases (Detail)	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term	7 years 3 months 18 days	7 years 6 months
Weighted-average discount rate	5.90%	5.90%

Commitments and Contingencies_3

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Nov. 17, 2023	Apr. 30, 2024	Dec. 20, 2023
Loss Contingencies [Line Items]
Contingency, damages sought, value	$ 31
Amount of lost profits	25
Payments for royalties	$ 6
Security deposit			$ 2.3
Subsequent Event
Loss Contingencies [Line Items]
Security deposit		$ 2

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail)	Mar. 31, 2024 shares
Common Class A
Class of Stock [Line Items]
Common stock shares issued (in shares)	105,644,016
Common stock shares outstanding (in shares)	105,644,016
Common Class B
Class of Stock [Line Items]
Common stock shares issued (in shares)	14,056,833
Common stock shares outstanding (in shares)	14,056,833

Capital Stock - Schedule of Com

Capital Stock - Schedule of Common Stock Issued and Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class B common stock converted to Class A common stock
Conversion of Stock [Line Items]
Conversion of stock, shares converted (in shares)	0	600,000

Equity Incentive Plans - Schedu

Equity Incentive Plans - Schedule of Recorded Stock-Based Compensation Expense in the Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed [Line Items]
Total stock-based compensation expense	$ 36,129	$ 42,101
Cost of revenue
Share-based Payment Arrangement, Expensed [Line Items]
Total stock-based compensation expense	2,033	1,461
Research and development
Share-based Payment Arrangement, Expensed [Line Items]
Total stock-based compensation expense	16,888	17,780
Selling, general and administrative
Share-based Payment Arrangement, Expensed [Line Items]
Total stock-based compensation expense	$ 17,208	$ 22,860

Equity Incentive Plans - Sche_2

Equity Incentive Plans - Schedule of RSU Activity (Detail)	3 Months Ended
Equity Incentive Plans - Schedule of RSU Activity (Detail)	Mar. 31, 2024 $ / shares shares
Restricted Stock Units
Beginning balance (in shares) \| shares	5,334,134
Granted (in shares) \| shares	992,112
Vested (in shares) \| shares	(445,112)
Cancelled (in shares) \| shares	(302,316)
Ending balance (in shares) \| shares	5,578,818
Weighted-Average Grant Date Fair Value (per share)
Beginning balance (in dollars per share) \| $ / shares	$ 48.26
Granted (in dollars per share) \| $ / shares	41.74
Vested (in dollars per share) \| $ / shares	59.12
Cancelled (in dollars per share) \| $ / shares	46.32
Ending balance (in dollars per share) \| $ / shares	$ 46.34

Equity Incentive Plans - Sche_3

Equity Incentive Plans - Schedule of Company's Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Stock Options
Beginning balance (in shares) \| shares	5,946,786
Exercised (in shares) \| shares	(160,375)
Cancelled and forfeited (in shares) \| shares	(182,251)
Ending balance (in shares) \| shares	5,604,160
Weighted-Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 42.17
Exercised (in dollars per share) \| $ / shares	10.21
Cancelled and forfeited (in dollars per share) \| $ / shares	41.53
Ending balance (in dollars per share) \| $ / shares	$ 43.11

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (in shares)			992,112
Weighted-average grant date fair value, granted (in dollars per share)			$ 41.74
Market-based Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment arrangement recognized			$ 0.1
Performance Stock Units \| 2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (in shares)	219,168	172,842
CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSA target percentage			50%
Performance period			2 years
CAGR \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSA target amount of shares percentage			0%
CAGR \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSA target amount of shares percentage			175%
CAGR \| Market-based Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value, granted (in dollars per share)			$ 37.43
TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSA target percentage			50%
Performance period			3 years
TSR \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSA target amount of shares percentage			0%
TSR \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSA target amount of shares percentage			200%
TSR \| Market-based Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value, granted (in dollars per share)			$ 44.80
Employee Stock \| 2019 Plan \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement percent			85%
Employee Stock \| 2019 Employee Stock Purchase Plan \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	3,091,063		3,091,063		3,686,671
Shares issued in period for previously outstanding awards (in shares)			0	0

Equity Incentive Plans - Fair V

Equity Incentive Plans - Fair Values Of Shares Under The Performance Stock Options (Details) - Performance Stock Units	3 Months Ended
	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	66%
Risk-free interest rate	4.50%
Expected dividend yield	0%

Net Loss Per Share - Shares of

Net Loss Per Share - Shares of Common Stock Equivalents Were Excluded From The Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	11,299,861	13,527,764
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	5,604,160	7,556,361
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	5,578,818	5,871,150
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	116,883	100,253