Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

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):

	September 30, 2024		December 31, 2023
Cash	$	35,617	$	22,407
U.S. Treasury	2,081		—
Money market funds	124,574		144,892
Restricted cash	31		331
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$	162,303	$	167,630

Schedule of 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):

	September 30, 2024		December 31, 2023
Cash	$	35,617	$	22,407
U.S. Treasury	2,081		—
Money market funds	124,574		144,892
Restricted cash	31		331
Total cash, cash equivalents and restricted cash as presented on the consolidated statements of cash flows	$	162,303	$	167,630

Schedule of Accounts Receivable, Allowance for Doubtful Debt

The changes in the allowance for credit losses for the nine months ended September 30, 2024 were as follows (in thousands):

Allowance for credit losses
Balance at December 31, 2023	$	372
Utilization of allowance for credit losses	(197)
Provision for credit losses	126
Balance at September 30, 2024	$	301

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
Building	20 years
Furniture and fixtures	7 years
Laboratory equipment	5 years
Office and computer equipment	3 years
Leasehold improvements	Shorter 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
Patent	20 years
Trademarks	10 years
Trade name	3 - 15 years
FCI developed technology	1 - 6 years
Customer relationship	7 - 9 years
Reagent licenses	7 years
IP license	5 years