$OMIC
Singular Genomics Systems Inc

2024 Q3 Form 10-Q Financial Statement

#000095017024096192 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $737.0K
YoY Change 45.94%
Cost Of Revenue $915.0K
YoY Change 53.27%
Gross Profit -$178.0K
YoY Change 93.48%
Gross Profit Margin -24.15%
Selling, General & Admin $11.90M
YoY Change -20.08%
% of Gross Profit
Research & Development $10.73M
YoY Change -15.02%
% of Gross Profit
Depreciation & Amortization $1.067M
YoY Change 22.08%
% of Gross Profit
Operating Expenses $22.63M
YoY Change -17.76%
Operating Profit -$22.80M
YoY Change -17.39%
Interest Expense $286.0K
YoY Change 5.93%
% of Operating Profit
Other Income/Expense, Net $1.550M
YoY Change -23.46%
Pretax Income -$21.25M
YoY Change -16.91%
Income Tax
% Of Pretax Income
Net Earnings -$21.25M
YoY Change -16.91%
Net Earnings / Revenue -2883.85%
Basic Earnings Per Share -$8.57
Diluted Earnings Per Share -$8.57
COMMON SHARES
Basic Shares Outstanding 2.496M 74.09M
Diluted Shares Outstanding 2.481M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.4M
YoY Change -35.62%
Cash & Equivalents $30.12M
Short-Term Investments $103.3M
Other Short-Term Assets $2.424M
YoY Change -41.32%
Inventory $12.44M
Prepaid Expenses $1.539M
Receivables $440.0K
Other Receivables $0.00
Total Short-Term Assets $148.7M
YoY Change -34.12%
LONG-TERM ASSETS
Property, Plant & Equipment $13.25M
YoY Change 15.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.078M
YoY Change -11.86%
Total Long-Term Assets $71.31M
YoY Change 22.34%
TOTAL ASSETS
Total Short-Term Assets $148.7M
Total Long-Term Assets $71.31M
Total Assets $220.0M
YoY Change -22.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.498M
YoY Change -24.11%
Accrued Expenses $4.049M
YoY Change -2.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.938M
YoY Change
Total Short-Term Liabilities $16.95M
YoY Change 21.48%
LONG-TERM LIABILITIES
Long-Term Debt $6.355M
YoY Change -37.3%
Other Long-Term Liabilities $624.0K
YoY Change -26.93%
Total Long-Term Liabilities $6.979M
YoY Change -36.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.95M
Total Long-Term Liabilities $6.979M
Total Liabilities $82.30M
YoY Change 25.47%
SHAREHOLDERS EQUITY
Retained Earnings -$383.9M
YoY Change 31.47%
Common Stock $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $137.7M
YoY Change
Total Liabilities & Shareholders Equity $220.0M
YoY Change -22.53%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$21.25M
YoY Change -16.91%
Depreciation, Depletion And Amortization $1.067M
YoY Change 22.08%
Cash From Operating Activities -$18.04M
YoY Change -9.8%
INVESTING ACTIVITIES
Capital Expenditures $1.000K
YoY Change -99.67%
Acquisitions
YoY Change
Other Investing Activities $23.97M
YoY Change -168.9%
Cash From Investing Activities $23.96M
YoY Change -168.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 80.00K
YoY Change -87.06%
NET CHANGE
Cash From Operating Activities -18.04M
Cash From Investing Activities 23.96M
Cash From Financing Activities 80.00K
Net Change In Cash 6.006M
YoY Change -111.03%
FREE CASH FLOW
Cash From Operating Activities -$18.04M
Capital Expenditures $1.000K
Free Cash Flow -$18.04M
YoY Change -11.16%

Facts In Submission

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us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
19480000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
468000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
55543000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
37859000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
80000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
624000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
80000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
624000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13882000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
551000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16833000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
75977000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30715000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76528000
us-gaap Interest Paid Net
InterestPaidNet
494000
us-gaap Interest Paid Net
InterestPaidNet
530000
omic Inventory Transferred To Property And Equipment
InventoryTransferredToPropertyAndEquipment
1643000
omic Inventory Transferred To Property And Equipment
InventoryTransferredToPropertyAndEquipment
3752000
omic Purchases Of Inventory Included In Accounts Payable
PurchasesOfInventoryIncludedInAccountsPayable
209000
omic Purchases Of Inventory Included In Accounts Payable
PurchasesOfInventoryIncludedInAccountsPayable
319000
omic Purchases Of Inventory Included In Accrued Expenses
PurchasesOfInventoryIncludedInAccruedExpenses
0
omic Purchases Of Inventory Included In Accrued Expenses
PurchasesOfInventoryIncludedInAccruedExpenses
34000
omic Vesting Of Restricted Stock
VestingOfRestrictedStock
46000
omic Vesting Of Restricted Stock
VestingOfRestrictedStock
209000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
50000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-383900000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-337600000
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
133200000
omic Period Of Operations Sufficient To Fund
PeriodOfOperationsSufficientToFund
P12M
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30115000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16233000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
600000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
600000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30715000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16833000
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
103163000
CY2024Q2 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-74000
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
103089000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
157553000
CY2023Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
155000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
157708000
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
103089000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
157540000
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
168000
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
103089000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
157708000
us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Revenue Recognition</span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company generates revenue from sales of its products, which currently consist of the G4 instrument, related consumable flow cell kits and services. Revenue from instrument sales is recognized generally upon customer acceptance. Revenue from consumables sales is recognized generally upon shipment to the customer. Revenue from services, which are primarily comprised of assurance-type services, is recognized over the applicable service period.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Revenue is recorded net of discounts and sales taxes. The Company invoices its customers for instruments generally upon acceptance, for consumables generally on delivery, and for services generally in advance of the service period. Invoice terms are generally net 30 days. Cash received from customers in advance of revenue recognition is recorded as a contract liability. The Company’s contracts with its customers generally do not include rights of return or a significant financing component.</span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company periodically enters into contracts that include a combination of products and services, which are distinct within the context of the contract and are accounted for as separate performance obligations. The transaction price is allocated to each performance obligation in proportion to its standalone selling price. Until the Company has sufficient volume of historical sales data for each performance obligation, the Company determines the standalone selling price using observable prices when available and with consideration of current market conditions, which is primarily based on prices set by management, adjusted for applicable discounts. The Company then recognizes revenue for each performance obligation as that performance obligations is satisfied, as discussed above.</span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has entered into instrument arrangements with certain customers, under which the Company provides the G4 instrument at no cost to the customer, other than shipping, and the customer pays for consumables at list price, or at list price plus a mark-up, as consumables are ordered, shipped and invoiced. Revenue is recognized as consumables are shipped to the customer and disclosed within consumables revenue below. The G4 instrument provided to the customer is recorded on the balance sheet as property and equipment and disclosed as instruments at customer sites under Note 6 to these financial statements. Depreciation expense for these instruments is included in cost of revenue. Revenue associated with any lease elements of these arrangements was not material during the three and six months ended June 30, 2024 and 2023.</span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">During the six months ended June 30, 2024, the Company recognized </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of revenue for G4 instruments and </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of revenue for G4 consumables and services. Contract liabilities, which consists of deferred revenue, as of June 30, 2024 and December 31, 2023 were </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.2</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, respectively. As of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">June 30, 2024, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of this balance was classified as current, and the remainder of this balance was classified as noncurrent. Deferred revenue represents the value of performance obligations that have been invoiced but for which revenue has not yet been earned.</span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the six months ended June 30, 2024, all of the Company’s revenue was generated within the United States, and the Company generated approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">57</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of revenue from its top </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">three</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customers.</span></p>
CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
200000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
300000
CY2024Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
100000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4%;font-size:10pt;margin-top:5pt;font-family:Times New Roman;margin-bottom:5pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, restricted cash, cash equivalents and short-term investments. The Company invests its cash equivalents in highly rated money market funds. The Company’s short-term investments consisted of U.S. treasury securities as of June 30, 2024. Deposits may exceed federally insured limits, and the Company is exposed to credit risk on deposits with financial institutions to the extent account balances exceed the amount insured by the Federal Deposit Insurance Corporation (“FDIC”). During the periods presented, the Company has not experienced any losses on its cash, restricted cash, cash equivalents or short-term investments.</span></p>
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1900000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1900000
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
10136000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
11627000
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
2082000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1276000
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
224000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
669000
CY2024Q2 us-gaap Inventory Net
InventoryNet
12442000
CY2023Q4 us-gaap Inventory Net
InventoryNet
13572000
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1539000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1672000
CY2024Q2 us-gaap Interest Receivable
InterestReceivable
885000
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
1019000
CY2024Q2 us-gaap Deposits Assets Current
DepositsAssetsCurrent
185000
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
1459000
CY2024Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
2609000
CY2023Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4150000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23325000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21713000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10076000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8021000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13249000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13692000
CY2024Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3149000
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
5229000
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
404000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
178000
CY2024Q2 omic Accrued Contracted Research Costs Current
AccruedContractedResearchCostsCurrent
277000
CY2023Q4 omic Accrued Contracted Research Costs Current
AccruedContractedResearchCostsCurrent
264000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
219000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
408000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4049000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6079000
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2026-09-01
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0075
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.04
omic Debt Instrument Interest Rate Due On Maturity Date
DebtInstrumentInterestRateDueOnMaturityDate
0.04
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
200000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
400000
CY2024Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
10500000
CY2023Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
10500000
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
207000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
287000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10293000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10213000
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
3938000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1312000
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6355000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
8901000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1880000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5886000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4510000
CY2024Q2 omic Long Term Debt Maturities Repayments Of Principal Including Interest Payments
LongTermDebtMaturitiesRepaymentsOfPrincipalIncludingInterestPayments
12276000
CY2024Q2 omic Interest And Final Payment Fee
InterestAndFinalPaymentFee
1776000
CY2024Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
10500000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
207000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10293000
CY2024Q2 omic Accrued Payment Related To Milestone
AccruedPaymentRelatedToMilestone
500000
CY2022Q1 us-gaap Payments For Rent
PaymentsForRent
1100000
us-gaap Sales Type Lease Initial Direct Cost Expense Commencement
SalesTypeLeaseInitialDirectCostExpenseCommencement
5700000
us-gaap Variable Lease Cost
VariableLeaseCost
1600000
us-gaap Operating Lease Cost
OperatingLeaseCost
4100000
CY2023Q2 us-gaap Sales Type Lease Initial Direct Cost Expense Commencement
SalesTypeLeaseInitialDirectCostExpenseCommencement
5900000
us-gaap Sales Type Lease Initial Direct Cost Expense Commencement
SalesTypeLeaseInitialDirectCostExpenseCommencement
5900000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1700000
us-gaap Variable Lease Cost
VariableLeaseCost
1700000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
4200000
us-gaap Operating Lease Cost
OperatingLeaseCost
4200000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4105000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5716000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8607000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8580000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
8837000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
79058000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
114903000
CY2024Q2 omic Operating Lease Future Minimum Payments Less Discount
OperatingLeaseFutureMinimumPaymentsLessDiscount
-49468000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
65435000
CY2024Q2 omic Less Current Portion
LessCurrentPortion
7065000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58370000
CY2022Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
0.0001
CY2022Q1 omic Percentage Of Amended Shares Of Common Stock
PercentageOfAmendedSharesOfCommonStock
0.049
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
The number of shares of common stock reserved for issuance under the 2021 Plan is increased automatically on the first day of each fiscal year, commencing in 2022 and ending in 2031, by a number equal to the lesser of: (i) 5% of the shares of common stock outstanding on the last day of the prior fiscal year; or (ii) the number of shares determined by the Company’s Board of Directors.
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
791417
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
391725
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
125.4
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
201505
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
136.5
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
15047
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.16
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
28675
omic Share Based Compensation Arrangements By Share Based Payment Award Options Forfeited In Period Weighted Average Forfeiture Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeitedInPeriodWeightedAverageForfeiturePrice
133.64
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
378097
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
120.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
22000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
243045
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
130.45
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
22000
CY2024Q2 omic Liability For Cash Received From Early Exercise Of Stock
LiabilityForCashReceivedFromEarlyExerciseOfStock
100000
CY2023Q4 omic Liability For Cash Received From Early Exercise Of Stock
LiabilityForCashReceivedFromEarlyExerciseOfStock
100000
CY2024Q2 omic Number Of Early Exercise Stock Option Remain Subject To Repurchase
NumberOfEarlyExerciseStockOptionRemainSubjectToRepurchase
339
CY2023Q4 omic Number Of Early Exercise Stock Option Remain Subject To Repurchase
NumberOfEarlyExerciseStockOptionRemainSubjectToRepurchase
1146
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5082000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5923000
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13700000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7848
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0463
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0395
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
667592
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
539992
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-096192.txt Edgar Link pending
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