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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
Stock option activity for the year ended December 31, 2025 is presented below (in thousands, except per share and contractual life amounts):
Number of optionsWeighted-average
exercise price per share		Weighted-average remaining contractual
life (in years)		Aggregate
intrinsic value
Outstanding at December 31, 20243,563 $19.94 7.7$678 
Granted2,676 8.21 
Exercised(4)3.12 
Forfeited/expired(1,355)15.04 
Outstanding at December 31, 20254,880 $14.89 7.9$170 
Exercisable at December 31, 20252,042 $20.06 6.5$12 
Vested and expected to vest at December 31, 20254,880 $14.89 7.9$170 
Schedule of Restricted Stock Units Activity RSU activity for the year ended December 31, 2025 is presented below (in thousands, except per share amounts):
Number of sharesWeighted-average grant
date fair value per share
Unvested as of December 31, 20241,115 $18.55 
Assumed through acquisition of Akoya (1)253 6.54 
Granted1,619 7.76 
Vested(677)10.44 
Forfeited(735)13.58 
Unvested as of December 31, 20251,575 $11.33 
Expected to convert at December 31, 20251,575 $11.33 
(1)Refer to Note 3 - Acquisitions.
Schedule of Share-based Compensation Expense for all Stock Awards
Stock-based compensation expense was recorded in the following categories on the Consolidated Statements of Operations (in thousands):
Year Ended December 31,
202520242023
Cost of product revenue$901 $1,132 $839 
Cost of service and other revenue970 1,142 1,124 
Research and development2,178 2,117 1,713 
Selling, general and administrative16,669 15,596 13,147 
Total stock-based compensation expense$20,718 $19,987 $16,823 
Schedule of Fair Value of Stock Options Granted to Employees and Non-Employees is Estimated on Grant Date using Black-Scholes Option-Pricing Model
The fair value of the Company’s stock options granted and purchase rights to the ESPP were estimated using the Black-Scholes valuation model with the following assumptions:
Year Ended December 31,
202520242023
Stock Options:
Risk-free interest rate
3.7% - 4.4%
3.4% - 4.6%
3.5% - 4.7%
Expected dividend yieldNoneNoneNone
Expected term (in years)
5.4 - 5.7
5.3 - 5.4
5.0 - 5.2
Expected volatility
82.1% - 84.5%
81.4% - 83.1%
71.1% - 83.1%
Weighted-average grant date fair value per share$5.85 $14.43 $10.63 
Employee Stock Purchase Plan:
Risk-free interest rate
3.8% - 4.0%
4.3% - 4.9%
5.2% - 5.5%
Expected dividend yieldNoneNoneNone
Expected term (in years)0.50.50.5
Expected volatility
72.3% - 91.1%
54.9% - 66.0%
72.8% - 82.5%
Weighted-average grant date fair value per share$1.39 $3.84 $3.19