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Basis of Presentation and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following is a summary of cash, cash equivalents and restricted cash on the consolidated balance sheets (in thousands):
December 31,
2023
December 31,
2022
Cash$22,407 $123,371 
U.S. Treasury— 29,930 
Federal agency securities— 19,908 
Commercial paper5,955 
Money market funds144,892 117,437 
Restricted cash331 2,899 
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows$167,630 $299,500 
Restrictions on Cash and Cash Equivalents
The following is a summary of cash, cash equivalents and restricted cash on the consolidated balance sheets (in thousands):
December 31,
2023
December 31,
2022
Cash$22,407 $123,371 
U.S. Treasury— 29,930 
Federal agency securities— 19,908 
Commercial paper5,955 
Money market funds144,892 117,437 
Restricted cash331 2,899 
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows$167,630 $299,500 
Schedule of Accounts Receivable, Allowance for Doubtful Debt
The changes in the allowance for uncollectible receivables for the year ended December 31, 2023 were as follows (in thousands):
Allowance for credit losses
Balance at December 31, 2021$
Cumulative effect adjustment upon adoption of ASU 2016-13— 
Balance at January 1, 2022
Utilization of allowance for credit losses(3)
Provision for credit losses102 
Balance at December 31, 2022$102 
Utilization of allowance for credit losses— 
Provision for credit losses270 
Balance at December 31, 2023$372 
Schedule of Useful Life of Property Plant and Equipment The Company’s estimated useful lives of its property and equipment are as follows:
Estimated Useful Lives
Building20 years
Furniture and fixtures7 years
Laboratory equipment5 years
Office and computer equipment3 years
Leasehold improvementsShorter of expected lease term or estimated useful life
Schedule of Finite-Lived Intangible Assets The Company’s estimated useful lives of its intangible assets are as follows:
Estimated Useful Lives
Patent20 years
Trademarks10 years
Trade name
3 - 15 years
FCI developed technology
1 - 6 years
Customer relationship
7 - 9 years
Reagent licenses7 years
IP license5 years