2023 Q4 Form 10-Q Financial Statement

#000170305723000040 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $9.179M $6.599M
YoY Change -57.4% -93.49%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $19.07M $17.84M
YoY Change 21.44% 5.66%
% of Gross Profit
Research & Development $48.62M $37.92M
YoY Change 72.14% 42.64%
% of Gross Profit
Depreciation & Amortization $7.495M $3.100M
YoY Change -45.64% 24.0%
% of Gross Profit
Operating Expenses $75.23M $61.49M
YoY Change 26.82% -3.39%
Operating Profit -$54.89M
YoY Change -245.46%
Interest Expense $10.97M $10.70M
YoY Change -8.85%
% of Operating Profit
Other Income/Expense, Net $6.482M $15.61M
YoY Change -214.36% 76.39%
Pretax Income -$48.60M -$39.28M
YoY Change 54.72% -184.31%
Income Tax -$1.452M -$10.67M
% Of Pretax Income
Net Earnings -$47.15M -$28.61M
YoY Change 57.73% -207.46%
Net Earnings / Revenue -513.67% -433.55%
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$0.16 -$0.10
COMMON SHARES
Basic Shares Outstanding 290.2M shares 289.4M shares
Diluted Shares Outstanding 289.5M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.6M $785.8M
YoY Change 39.58% 111.25%
Cash & Equivalents 52.20M cads $172.4M
Short-Term Investments $627.3M $613.4M
Other Short-Term Assets $55.81M $71.23M
YoY Change -25.99% 53.19%
Inventory $1.107M $1.200M
Prepaid Expenses
Receivables $30.59M $37.40M
Other Receivables $33.79M $38.10M
Total Short-Term Assets $872.0M $919.5M
YoY Change -14.97% -12.06%
LONG-TERM ASSETS
Property, Plant & Equipment $287.7M $277.2M
YoY Change 32.42% 38.19%
Goodwill $47.80M $47.81M
YoY Change -0.01% 0.0%
Intangibles $120.4M $124.1M
YoY Change -8.42% -12.96%
Long-Term Investments $65.94M $62.90M
YoY Change -9.08% -5.72%
Other Assets $94.24M $80.69M
YoY Change 103.41% 64.46%
Total Long-Term Assets $616.1M $592.7M
YoY Change 19.54% 16.96%
TOTAL ASSETS
Total Short-Term Assets $872.0M $919.5M
Total Long-Term Assets $616.1M $592.7M
Total Assets $1.488B $1.512B
YoY Change -3.43% -2.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.51M $17.40M
YoY Change 72.03% 86.72%
Accrued Expenses $13.87M $11.90M
YoY Change
Deferred Revenue $18.96M $17.51M
YoY Change -12.28% 156.9%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $119.0M $110.2M
YoY Change 0.59% 3.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.906M $5.051M
YoY Change 91.38% 76.79%
Total Long-Term Liabilities $216.8M $219.2M
YoY Change 14.5% 11.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $119.0M $110.2M
Total Long-Term Liabilities $216.8M $219.2M
Total Liabilities $335.8M $329.4M
YoY Change 9.15% 8.99%
SHAREHOLDERS EQUITY
Retained Earnings $279.8M $326.9M
YoY Change -34.35% -28.32%
Common Stock $874.3M $857.3M
YoY Change 8.13% 7.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.152B $1.183B
YoY Change
Total Liabilities & Shareholders Equity $1.488B $1.512B
YoY Change -3.43% -2.59%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$47.15M -$28.61M
YoY Change 57.73% -207.46%
Depreciation, Depletion And Amortization $7.495M $3.100M
YoY Change -45.64% 24.0%
Cash From Operating Activities -$19.58M -$100.0K
YoY Change -163.33% -99.92%
INVESTING ACTIVITIES
Capital Expenditures $14.41M $20.90M
YoY Change 16.85% -244.01%
Acquisitions
YoY Change
Other Investing Activities -$9.901M $8.100M
YoY Change 109.19% -103.03%
Cash From Investing Activities -$24.31M -$12.80M
YoY Change 42.46% -95.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.756M 6.600M
YoY Change 976.22% -34836.84%
NET CHANGE
Cash From Operating Activities -19.58M -100.0K
Cash From Investing Activities -24.31M -12.80M
Cash From Financing Activities 3.756M 6.600M
Net Change In Cash -40.13M -6.300M
YoY Change -382.64% -98.46%
FREE CASH FLOW
Cash From Operating Activities -$19.58M -$100.0K
Capital Expenditures $14.41M $20.90M
Free Cash Flow -$33.98M -$21.00M
YoY Change -282.89% -81.3%

Facts In Submission

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IncreaseDecreaseInRoyaltiesPayable
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IncreaseDecreaseInDeferredGrantIncome
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IncreaseDecreaseInDeferredGrantIncome
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
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PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Marketable Securities
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abcl Proceeds From Receipt Of Grant Funding
ProceedsFromReceiptOfGrantFunding
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ProceedsFromReceiptOfGrantFunding
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abcl Payments To Acquire Long Term Investments And Other Assets
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us-gaap Net Cash Provided By Used In Investing Activities
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abcl Repayment Of Liability For In Licensing Agreement And Contingent Consideration
RepaymentOfLiabilityForInLicensingAgreementAndContingentConsideration
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RepaymentOfLiabilityForInLicensingAgreementAndContingentConsideration
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abcl Proceeds From Debt And Exercise Of Stock Options
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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RestrictedCashAndCashEquivalentsNoncurrent
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CY2023Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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abcl Non Cash Or Part Non Cash Acquisition Property And Equipment Purchases In Accounts Payable
NonCashOrPartNonCashAcquisitionPropertyAndEquipmentPurchasesInAccountsPayable
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abcl Non Cash Or Part Non Cash Acquisition Property And Equipment Purchases In Accounts Payable
NonCashOrPartNonCashAcquisitionPropertyAndEquipmentPurchasesInAccountsPayable
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abcl Noncash Or Part Noncash Acquisition Right Of Use Assets Obtained In Exchange For Operating Lease Obligation
NoncashOrPartNoncashAcquisitionRightOfUseAssetsObtainedInExchangeForOperatingLeaseObligation
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abcl Noncash Or Part Noncash Acquisition Right Of Use Assets Obtained In Exchange For Operating Lease Obligation
NoncashOrPartNoncashAcquisitionRightOfUseAssetsObtainedInExchangeForOperatingLeaseObligation
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us-gaap Nature Of Operations
NatureOfOperations
Nature of operationsAbCellera Biologics Inc.’s (the “Company”) mission is to bring better antibody drugs to patients faster, solve long-standing problems, and transform how antibody drugs are discovered. The Company aims to bring antibody therapeutics from target to clinic by combining expertise, technologies, and infrastructure to build an engine for antibody drug discovery and development. The Company uses the engine to both work with partners to build a large and diversified portfolio of royalty (and equivalent) stakes in future antibody drugs and to develop its own pipeline of future antibody drugs. The Company partners with companies of all sizes - from innovative biotechnology companies to leading pharmaceutical companies - propelling programs to the clinic, together.
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
29544395 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Use Of Estimates
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<div style="margin-top:6pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas of significant estimates include, but are not limited to, revenue recognition including evaluating whether contractual obligations represent distinct performance obligations, determining whether an option for additional goods or services represents a material right, allocating the transaction price to performance obligations within a contract, and assessing the recognition and possible future reversal of variable consideration, the fair value of acquired intangible assets, contingent consideration payable, and the estimates of stock-based compensation awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could significantly differ from those estimates.</span></div>
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26624000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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EarningsPerShareBasic
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NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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PropertyPlantAndEquipmentGross
235730000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
217255000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
277209000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
25600000 usd
CY2023Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
72500000 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
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CY2023Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
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CY2022Q3 us-gaap Depreciation
Depreciation
2500000 usd
us-gaap Depreciation
Depreciation
6200000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
155143000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
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124076000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
7463000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4297000 usd
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4297000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
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CY2023Q3 us-gaap Finite Lived Intangible Assets Net
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24651000 usd
abcl Number Of Joint Ventures
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2 jointventure
CY2022Q4 us-gaap Income Taxes Receivable
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64817000 usd
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38037000 usd
CY2022Q4 abcl Prepaid Expense And Other Current
PrepaidExpenseAndOtherCurrent
9064000 usd
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PrepaidExpenseAndOtherCurrent
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MaterialsAndSuppliesCurrent
1532000 usd
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MaterialsAndSuppliesCurrent
1194000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
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EmployeeRelatedLiabilitiesCurrent
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CY2022Q4 abcl Deferred Grant Funding Current
DeferredGrantFundingCurrent
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DeferredGrantFundingCurrent
6353000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
33150000 usd
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AccountsPayableAndOtherAccruedLiabilitiesCurrent
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11754000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
34954000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30924000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2023Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
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EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
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abcl Marketable Securities Weighted Average Life
MarketableSecuritiesWeightedAverageLife
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CY2022Q3 us-gaap Royalty Expense
RoyaltyExpense
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us-gaap Royalty Expense
RoyaltyExpense
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CY2023Q3 us-gaap Royalty Expense
RoyaltyExpense
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us-gaap Royalty Expense
RoyaltyExpense
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CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
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NonRule10b51ArrTrmntdFlag
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