Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2019


	Year Ended
	December 31, 2019
(in thousands)	NA		EMEA		Asia Pacific		Total
Product revenues
Instruments	$	6,250	$	5,243	$	3,393	$	14,886
Consumable and other products		14,148		9,674		1,783		25,605
Totals	$	20,398	$	14,917	$	5,176	$	40,491

Service and other revenues
Service-type warranties	$	3,139	$	1,323	$	171	$	4,633
Research services		8,845		704		456		10,005
Other services		825		565		31		1,421
Totals	$	12,809	$	2,592	$	658	$	16,059

Collaboration and license revenue
Collaboration and license revenue	$	167	$	17	$	—	$	184
Totals	$	167	$	17	$	—	$	184

Schedule of changes in deferred revenue from contracts with customers

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


	Year Ended December 31, 2019
Balance at December 31, 2018	$	5,957
606 adoption adjustment		(86)
Deferral of revenue		3,925
Recognition of deferred revenue		(4,633)
Balance at December 31, 2019	$	5,163

Schedule of costs to obtain a contract

The change in the balance of costs to obtain a contract are as follows (in thousands):


	Year Ended December 31, 2019
Balance at December 31, 2018	$	—
606 adoption adjustment		307
Deferral of costs to obtain a contract		848
Recognition of costs to obtain a contract		(820)
Balance at December 31, 2019	$	335

Schedule of outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share


	Year Ended December 31,
	2019	2018	2017
Unvested restricted common stock and restricted stock units	409,929	361,468	177,192
Outstanding stock options	2,507,062	2,476,911	2,249,843
Outstanding common stock warrants	10,000	76,041	86,090
Total	2,926,991	2,914,420	2,513,125

Schedule of cash and cash equivalents

Cash and cash equivalents consist of the following (in thousands):


	As of
	December 31,
	2019		2018
Cash	$	6,406	$	1,821
Money market funds invested in U.S. Treasury obligations		102,749		42,608
Total cash and cash equivalents	$	109,155	$	44,429

Schedule of estimated useful lives


Laboratory and manufacturing equipment		Five years
Computers and software		Three years
Office furniture and equipment		Seven years
Leasehold improvements		Shorter of the useful life of the asset or the remaining term of the lease

Schedule of fair value measurements

Fair value measurements as of December 31, 2019 are as follows (in thousands):


			Quoted prices				Significant
			in active		Significant other		unobservable
			markets		observable		inputs
Description	Total		(Level 1)		inputs (Level 2)		(Level 3)
Financial assets
Cash equivalents	$	109,155	$	109,155	$	—	$	—
Note receivable		150		—		—		150
	$	109,305	$	109,155	$	—	$	150

Fair value measurements as of December 31, 2018 are as follows (in thousands):


			Quoted prices				Significant
			in active		Significant other		unobservable
			markets		observable		inputs
Description	Total		(Level 1)		inputs (Level 2)		(Level 3)
Financial assets
Cash equivalents	$	42,608	$	42,608	$	—	$	—
Note receivable		150		—		—		150
	$	42,758	$	42,608		—	$	150

Summary of fair value assumptions of stock options granted to employees and directors for their services on the Company’s Board of Directors


	Year Ended December 31,
	2019	2018	2017
Risk-free interest rate	1.4% - 2.6%	2.6% - 3.0%	1.8% - 2.1%
Expected dividend yield	None	None	None
Expected term (in years)	6.0	5.9	6.0
Expected volatility	33.5% - 39.7%	32.4% - 36.8%	46.0% - 52.0%

ASU 2014-09

Revenue recognition

Schedule of impact on consolidated balance sheet and statement of operations due to adoption of ASU 606

In accordance with the reporting requirements of ASC 606, the disclosure of the impact on the Company's consolidated balance sheet and statement of operations, as a result of adopting the provisions of ASC 606, was as follows (in thousands):


											Prior to
											adoption of
	As				Adjusted under		As reported				ASC 606
	reported				ASC 606		December 31,				December 31,
	December 31, 2018		Adjustments		January 1, 2019		2019		Adjustments		2019
Assets:
Accounts receivable	$	6,792	$	47	$	6,839	$	10,906	$	—	$	10,906
Prepaid expenses and other current assets		2,330		288		2,618		2,137		335		1,802
Other non-current assets		536		19		555		557		—		557

Liabilities:
Deferred revenue		5,437		43		5,394		4,697		(209)		4,488
Deferred revenue, net of current portion		520		43		477		466		14		480

Stockholders’ equity:
Accumulated deficit	$	(175,888)	$	(440)	$	(175,448)	$	(216,244)	$	(140)	$	(216,104)


	For the Year Ended December 31, 2019
					Under ASC
	Under ASC 606		Adjustment		605
Product revenue	$	40,491	$	55	$	40,546
Service revenue		16,059		273		16,332
Costs of goods sold and services		29,898		1		29,899
Gross profit		26,836		327		27,163
Selling general and administrative expenses		52,246		27		52,273
Net loss	$	(40,796)	$	300	$	(40,496)