0001299130-22-000053 | 10-Q | XBRL Viewer | Pacific Biosciences OF California INC

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Stockholders' Equity (Narrative) (Details) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended
	Nov. 22, 2021 shares	Sep. 20, 2021 item shares	Apr. 18, 2021 shares	Feb. 28, 2022 shares	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 02, 2020 shares	Aug. 04, 2020 shares
Stockholders' Equity [Line Items]
Common Stock Shares Issued					224,329,000		220,978,000
Proceeds From Issuance Of Common Stock \| $					$ 5,592	$ 22,343
Common Stock Par Or Stated Value Per Share \| $ / shares					$ 0.001		$ 0.001
Omniome Plan [Member]
Stockholders' Equity [Line Items]
Exchange ratio \| item		0.259204639
Shares authorized		2,494,128
ESPP [Member]
Stockholders' Equity [Line Items]
Shares issued					1,316,923	983,180
Additional common stock reserved for issuance				4,000,000.0
Common stock remain available for issuance					10,493,750
Stock-based compensation expense \| $					$ 3,300
2020 Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Shares authorized									11,000,000
Common stock remain available for issuance					1,200,000
2020 Inducement Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Shares authorized								2,500,000
Additional common stock reserved for issuance	360,000		750,000
Time-based and performance-based options [Member]
Stockholders' Equity [Line Items]
Stock-based compensation expense \| $					$ 7,500
Options to purchase common stock [Member]
Stockholders' Equity [Line Items]
Weighted average grant date fair value per share \| $ / shares					$ 6.66	$ 20.21
RSUs with performance-based vesting [Member]
Stockholders' Equity [Line Items]
Stock-based compensation expense \| $					$ 11,900

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Time-Based RSUs Activity


		Weighted average
	Number	grant date
	of shares	fair value
Outstanding at December 31, 2021	7,392	$	19.78
Granted	3,650		11.36
Vested	(1,845)		14.69
Forfeited	(322)		22.50
Outstanding at March 31, 2022	8,875	$	17.28

Schedule of Stock-Based Compensation Expense


	Three Months Ended March 31,
	2022		2021
Cost of revenue	$	1,758	$	992
Research and development		8,965		3,048
Sales, general and administrative		11,980		6,125
Total stock-based compensation expense	$	22,703	$	10,165

Schedule of Fair Value of Employee Stock Purchase Plan


	Three Months Ended March 31,
	2022		2021
Expected term in years		0.5 - 2.0		0.5 - 2.0
Expected volatility		70%		68%
Risk-free interest rate		0.60% - 1.31%		0.07% - 0.13%
Dividend yield		—		—
Weighted average grant date fair value per share	$	5.42	$	29.26

Time-based stock options [Member]

Summary of Stock Option Activity



	Stock Options Outstanding
				Weighted
	Number			average
	of shares	Exercise price		exercise price
Outstanding at December 31, 2021	12,159	$	1.16 – 46.37	$	11.38
Granted	3,798		10.18 – 16.58		11.76
Exercised	(178)		1.16 – 8.90		3.38
Canceled	(232)		2.47 – 46.37		27.74
Outstanding at March 31, 2022	15,547	$	1.16 – 46.37	$	11.32

Performance-based stock options [Member]

Summary of Stock Option Activity



	Stock Options Outstanding
				Weighted
	Number			average
	of shares	Exercise price		exercise price
Outstanding at December 31, 2021	304	$	4.71 - 4.90	$	4.71
Granted	—		—		—
Exercised	—		—		—
Canceled	—		—		—
Outstanding at March 31, 2022	304	$	4.71 - 4.90	$	4.71

Balance Sheet Components (Estimated Future Amortization Expense Of Acquisition-Related Intangible Assets With Definite Lives) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
2022	$ 685
2023	838
2024	733
2025	733
2026	733
2027 and thereafter	7,029
Finite-Lived Intangible Assets, Net	$ 10,751	$ 10,979

Financial Instruments (Summary of Contractual Maturities of Cash Equivalents and Available-for-Sale Investments) (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Cash, Cash Equivalents and Investments [Abstract]
Due in one year or less	$ 651,213
Due after one year through five years	84,311
Total investments	$ 735,524

Convertible Senior Notes (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Convertible Senior Notes [Abstract]
Contractual interest expense	$ 3,375	$ 1,688
Amortization of debt issuance costs	153	74
Total interest expense	$ 3,528	$ 1,762

Revenue

3 Months Ended

Mar. 31, 2022

Revenue [Abstract]

Revenue

NOTE 11. REVENUE

A summary of our revenue by geographic location for the three months ended March 31, 2022 and 2021 is as follows (in thousands):



	Three Months Ended March, 31
(in thousands)	2022		2021
Americas	$	19,082	$	12,157
Europe (including the Middle East and Africa)		5,700		8,325
Asia Pacific		8,391		8,515
Total	$	33,173	$	28,997

A summary of our revenue by category for the three months ended March 31, 2022 and 2021 is as follows (in thousands):



	Three Months Ended March 31,
(in thousands)	2022		2021
Instrument revenue	$	15,550	$	14,939
Consumable revenue		12,694		10,364
Product revenue		28,244		25,303
Service and other revenue		4,929		3,694
Total revenue	$	33,173	$	28,997

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Financial Instruments [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis



	March 31, 2022								December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Cash and money market funds	$	227,251	$	—	$	—	$	227,251	$	327,315	$	—	$	—	$	327,315
Commercial paper		—		143,958		—		143,958		—		133,185		—		133,185
U.S. government & agency securities		—		32,377		—		32,377		—		225		—		225
U.S. Treasury securities		—		24,988		—		24,988		—		—		—		—
Total cash and cash equivalents		227,251		201,323		—		428,574		327,315		133,410		—		460,725
Investments:
Commercial paper		—		141,976		—		141,976		—		187,632		—		187,632
Corporate debt securities		—		5,313		—		5,313		—		8,968		—		8,968
U.S. government & agency securities		—		386,912		—		386,912		—		387,075		—		387,075
Total investments		—		534,201		—		534,201		—		583,675		—		583,675
Short-term restricted cash:
Cash		500		—		—		500		500		—		—		500
Long-term restricted cash:
Cash		4,982		—		—		4,982		4,592		—		—		4,592
Total assets measured at fair value	$	232,733	$	735,524	$	—	$	968,257	$	332,407	$	717,085	$	—	$	1,049,492

Liabilities
Contingent consideration	$	—	$	—	$	168,654	$	168,654	$	—	$	—	$	169,717	$	169,717
Total liabilities measured at fair value	$	—	$	—	$	168,654	$	168,654	$	—	$	—	$	169,717	$	169,717

Changes in the estimated fair value of contingent consideration liabilities [Table Text Block]


(in thousands)		Level 3
Beginning balance as of December 31, 2021	$	169,717
Change in estimated fair value		(1,063)
Ending balance as of March 31, 2022	$	168,654

Summary of Cash, Cash Equivalents and Investments



	As of March 31, 2022
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
(in thousands)	Cost		gains		losses		Value
Cash and cash equivalents:
Cash and money market funds	$	227,251	$	—	$	—	$	227,251
Commercial paper		143,964		2		(8)		143,958
U.S. government & agency securities		32,386		—		(9)		32,377
U.S. Treasury securities		24,989		—		(1)		24,988
Total cash and cash equivalents		428,590		2		(18)		428,574
Investments:
Commercial paper		142,266		1		(291)		141,976
Corporate debt securities		5,322		—		(9)		5,313
U.S. government & agency securities		390,682		7		(3,777)		386,912
Total investments		538,270		8		(4,077)		534,201
Total cash, cash equivalents and investments	$	966,860	$	10	$	(4,095)	$	962,775
Short-term restricted cash:
Cash	$	500	$	—	$	—	$	500
Long-term restricted cash:
Cash	$	4,982	$	—	$	—	$	4,982

	As of December 31, 2021
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
(in thousands)	Cost		gains		losses		Value
Cash and cash equivalents:
Cash and money market funds	$	327,316	$	—	$	—	$	327,316
Commercial paper		133,190		—		(5)		133,185
U.S. government & agency securities		225		—		—		224
Total cash and cash equivalents		460,731		—		(5)		460,725
Investments:
Commercial paper		187,705		—		(73)		187,632
Corporate debt securities		8,964		9		(5)		8,968
U.S. government & agency securities		388,088		1		(1,014)		387,075
Total investments		584,757		10		(1,092)		583,675
Total cash, cash equivalents and investments	$	1,045,488	$	10	$	(1,097)	$	1,044,400
Short-term restricted cash:
Cash	$	500	$	—	$	—	$	500
Long-term restricted cash:
Cash	$	4,592	$	—	$	—	$	4,592

Summary of Contractual Maturities of Cash Equivalents and Available-for-Sale Investments



(in thousands)	Fair Value
Due in one year or less	$	651,213
Due after one year through five years		84,311
Total investments	$	735,524

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Business Acquisition (Tables)

3 Months Ended

Mar. 31, 2022

Omniome, Inc [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition


Cash and cash equivalents	$	15,338
Property and equipment, net		6,123
Operating lease right-of-use assets, net		18,095
In-process research and development ("IPR&D")		400,000
Goodwill		390,665
Other assets		3,203
Deferred income tax liability		(91,814)
Liabilities assumed		(26,821)
Total consideration transferred	$	714,789

Circulomics, Inc [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition Consideration Tranferred


Cash and cash equivalents	$	987
Property and equipment, net		214
Intangible assets		11,360
Goodwill		19,309
Other assets		467
Deferred income tax liability		(2,672)
Liabilities assumed		(118)
Total consideration transferred	$	29,547

Financial Instruments (Summary of Cash, Cash Equivalents and Investments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Total investments in debt securities	$ 735,524
Cash, cash equivalents and investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	966,860	$ 1,045,488
Gross unrealized gains	10	10
Gross unrealized losses	(4,095)	(1,097)
Total investments in debt securities	962,775	1,044,400
Cash and cash equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	428,590	460,731
Gross unrealized gains	2
Gross unrealized losses	(18)	(5)
Total investments in debt securities	428,574	460,725
Cash and money market funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	227,251	327,316
Total investments in debt securities	227,251	327,316
Commercial paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	143,964	133,190
Gross unrealized gains	2
Gross unrealized losses	(8)	(5)
Total investments in debt securities	143,958	133,185
U.S. government and agency securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	32,386	225
Gross unrealized losses	(9)
Total investments in debt securities	32,377	224
U.S. Treasury security [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	24,989
Gross unrealized losses	(1)
Total investments in debt securities	24,988
Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	538,270	584,757
Gross unrealized gains	8	10
Gross unrealized losses	(4,077)	(1,092)
Total investments in debt securities	534,201	583,675
Commercial paper, not included with cash and cash equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	142,266	187,705
Gross unrealized gains	1
Gross unrealized losses	(291)	(73)
Total investments in debt securities	141,976	187,632
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	5,322	8,964
Gross unrealized gains		9
Gross unrealized losses	(9)	(5)
Total investments in debt securities	5,313	8,968
U.S. government & agency securities, not included with cash and cash equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	390,682	388,088
Gross unrealized gains	7	1
Gross unrealized losses	(3,777)	(1,014)
Total investments in debt securities	386,912	387,075
Long-term restricted cash [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	4,982	4,592
Total investments in debt securities	4,982	4,592
Short-Term Restricted Cash [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	500	500
Total investments in debt securities	$ 500	$ 500

Business Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Sep. 20, 2021	Jul. 20, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Fair value of contingent consideration			$ 168,654	$ 169,717
Circulomics, Inc [Member]
Business Acquisition [Line Items]
Total cash paid		$ 29,500
Achievement of milestone [Member] \| Omniome, Inc [Member]
Business Acquisition [Line Items]
Total cash paid	$ 100,000
Fair value of share consideration	100,000
Fair value of contingent consideration	200,000
Stock options issued by PacBio in replacement of Omniome’s unvested options	$ 4,100

Financial Instrument (Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Total cash and cash equivalents	$ 428,574	$ 460,725
Total investments	534,201	583,675
Short-term restricted cash: Cash	500	500
Long-term restricted cash: Cash	4,982	4,592
Total assets measured at fair value	968,257	1,049,492
Liabilities
Fair value of contingent consideration	168,654	169,717
Total liabilities measured at fair value	168,654	169,717
Cash and money market funds [Member]
Assets
Total cash and cash equivalents	227,251	327,315
Commercial paper [Member]
Assets
Total cash and cash equivalents	143,958	133,185
U.S. government and agency securities [Member]
Assets
Total cash and cash equivalents	32,377	225
U.S. Treasury security [Member]
Assets
Total cash and cash equivalents	24,988
Commercial paper, not included with cash and cash equivalents [Member]
Assets
Total investments	141,976	187,632
Corporate debt securities [Member]
Assets
Total investments	5,313	8,968
U.S. government & agency securities, not included with cash and cash equivalents [Member]
Assets
Total investments	386,912	387,075
Level 1 [Member]
Assets
Total cash and cash equivalents	227,251	327,315
Short-term restricted cash: Cash	500	500
Long-term restricted cash: Cash	4,982	4,592
Total assets measured at fair value	232,733	332,407
Level 1 [Member] \| Cash and money market funds [Member]
Assets
Total cash and cash equivalents	227,251	327,315
Level 2 [Member]
Assets
Total cash and cash equivalents	201,323	133,410
Total investments	534,201	583,675
Total assets measured at fair value	735,524	717,085
Level 2 [Member] \| Commercial paper [Member]
Assets
Total cash and cash equivalents	143,958	133,185
Level 2 [Member] \| U.S. government and agency securities [Member]
Assets
Total cash and cash equivalents	32,377	225
Level 2 [Member] \| U.S. Treasury security [Member]
Assets
Total cash and cash equivalents	24,988
Level 2 [Member] \| Commercial paper, not included with cash and cash equivalents [Member]
Assets
Total investments	141,976	187,632
Level 2 [Member] \| Corporate debt securities [Member]
Assets
Total investments	5,313	8,968
Level 2 [Member] \| U.S. government & agency securities, not included with cash and cash equivalents [Member]
Assets
Total investments	386,912	387,075
Level 3 [Member]
Liabilities
Fair value of contingent consideration	168,654	169,717
Total liabilities measured at fair value	$ 168,654	$ 169,717

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	50,000	50,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	1,000,000	1,000,000
Common Stock, shares issued	224,329	220,978
Common Stock, shares outstanding	224,329	220,978

Stockholders' Equity (Summary of Time-Based RSUs Activity) (Details) - RSUs with time-based vesting [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, Outstanding at December 31, 2021 \| shares	7,392
Number of shares, Granted \| shares	3,650
Number of shares, Released \| shares	(1,845)
Number of shares, Forfeited \| shares	(322)
Number of shares, Outstanding at March 31, 2022 \| shares	8,875
Weighted average grant date fair value, Outstanding at December 31, 2021 \| $ / shares	$ 19.78
Weighted average grant date fair value, per share \| $ / shares	11.36
Weighted average grant date fair value, Released \| $ / shares	14.69
Weighted average grant date fair value, Forfeited \| $ / shares	22.50
Weighted average grant date fair value, Outstanding at March 31, 2022 \| $ / shares	$ 17.28

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (81,499)	$ (87,435)
Adjustments to reconcile net loss to net cash used in operating activities
Loss from Continuation Advances		52,000
Depreciation	2,268	1,606
Amortization of intangible asets	228
Amortization of right-of-use assets	1,696	790
Amortization of debt discount and financing costs	159	74
Stock-based compensation	22,703	10,165
Amortization from investment premium	758	565
Change in the estimated fair value of contingent consideration	(1,063)
Loss on disposition of equipment	100
Changes in assets and liabilities
Accounts receivable	(3,611)	3,931
Inventory	(6,275)	(2,556)
Prepaid expenses and other assets	(1,185)	(675)
Accounts payable	6,373	153
Accrued expenses	(17,234)	(2,680)
Deferred revenue	1,949	5,004
Operating lease liabilities	(1,884)	(1,066)
Other liabilities	(2,512)	(2,980)
Net cash used in operating activities	(79,029)	(23,104)
Cash flows from investing activities
Purchase of property and equipment	(3,638)	(401)
Purchase of investments	(76,369)	(64,426)
Sales of investments		4,597
Maturities of investments	122,060	68,400
Net cash provided by investing activities	42,053	8,170
Cash flows from financing activities
Continuation Advances		(52,000)
Proceeds from issuance of Convertible Senior Notes, net of issuance costs		895,624
Proceeds from issuance of common stock from equity plans	5,592	22,343
Notes payable principal payoff	(377)
Other		(246)
Net cash provided by financing activities	5,215	865,721
Net increase in cash and cash equivalents and restricted cash	(31,761)	850,787
Cash and cash equivalents and restricted cash at beginning of period	465,817	85,947
Cash and cash equivalents and restricted cash at end of period	434,056	936,734
Cash and cash equivalents at end of period	428,574	932,398
Restricted cash at end of period	$ 5,482	$ 4,336

Organization and Significant Accounting Policies (Narrative) (Details) $ in Thousands		1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 09, 2021 USD ($)	Feb. 28, 2021 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 customer	Dec. 31, 2021 USD ($) customer
Summary Of Significant Accounting Policies [Line Items]
Contingent repayment liability \| $			$ 168,654		$ 169,717
Single customer with 10% or greater [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of customers \| customer					0
Sales Revenue, Net [Member] \| Single customer with 10% or greater [Member] \| Customer Concentration Risk [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of customers \| customer				0
Sales Revenue, Net [Member] \| Customer two [Member] \| Customer Concentration Risk [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			11.00%
Sales Revenue, Net [Member] \| One Customer [Member] \| Customer Concentration Risk [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			14.00%	12.00%
Accounts Receivable [Member] \| Domestic Customers [Member] \| Customer Concentration Risk [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			56.00%		53.00%
Accounts Receivable [Member] \| One Customer [Member] \| Customer Concentration Risk [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			17.00%
Convertible Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Principal amount of notes \| $	$ 900,000	$ 900,000
Maturity date	Feb. 15, 2028	Feb. 15, 2028

Business Acquisitions (Schedule by Acquisitions) (Details) - USD ($) $ in Thousands	Sep. 20, 2021	Jul. 20, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Combination, Consideration Transferred [Abstract]
Fair value of contingent consideration			$ 168,654	$ 169,717
Major classes of assets and liabilities allocated to total fair value of consideration transferred
Goodwill			$ 409,974	$ 409,974
Circulomics, Inc [Member]
Business Combination, Consideration Transferred [Abstract]
Total cash paid		$ 29,500
Major classes of assets and liabilities allocated to total fair value of consideration transferred
Cash and cash equivalents		987
Property and equipment, net		214
Intangible assets, finite lived		11,360
Goodwill		19,309
Other assets		467
Deferred income tax liability		(2,672)
Liabilities assumed		(118)
Total consideration transferred		$ 29,547
Omniome, Inc [Member]
Major classes of assets and liabilities allocated to total fair value of consideration transferred
Cash and cash equivalents	$ 15,338
Property and equipment, net	6,123
Operating lease right-of-use assets, net	18,095
In-process research and development ("IPR&D")	400,000
Goodwill	390,665
Other assets	3,203
Deferred income tax liability	(91,814)
Liabilities assumed	(26,821)
Total consideration transferred	$ 714,789

Convertible Senior Notes

3 Months Ended

Mar. 31, 2022

Convertible Senior Notes [Abstract]

Convertible Senior Notes

NOTE 7. CONVERTIBLE SENIOR NOTES

On February 9, 2021, we entered into an investment agreement (the “Investment Agreement”) with SB Northstar LP (the “Purchaser”), a subsidiary of SoftBank Group Corp., relating to the issuance and sale to the Purchaser of $900 million in aggregate principal amount of our 1.50% Convertible Senior Notes (the “Notes”). The Notes were issued on February 16, 2021.

The Notes are governed by an indenture (the “Indenture”) between the Company and U.S. Bank National Association, as trustee. The Notes bear interest at a rate of 1.50% per annum. Interest on the Notes is payable semi-annually in arrears on February 15 and August 15 and commenced on August 15, 2021. The Notes will mature on February 15, 2028, subject to earlier conversion, redemption or repurchase.

The Notes are convertible at the option of the holder at any time until the second scheduled trading day prior to the maturity date, including in connection with a redemption by the Company. The Notes are convertible into shares of our common stock based on an initial conversion rate of 22.9885 shares of common stock per $1,000 principal amount of the Notes (which is equal to an initial conversion price of $43.50 per share), in each case subject to customary anti-dilution and other adjustments as a result of certain extraordinary transactions. Upon conversion of the Notes, we may elect to settle such conversion obligation in shares, cash or a combination of shares and cash.

On or after February 20, 2026, the Notes will be redeemable by the Company in the event that the closing sale price of our common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide the redemption notice at a redemption price of 100% of the principal amount of such Notes, plus accrued and unpaid interest up to, but excluding, the redemption date.

With certain exceptions, upon a change of control of the Company or the failure of our common stock to be listed on certain stock exchanges (a “Fundamental Change”), the holders of the Notes may require that we repurchase all or part of the principal amount of the Notes at a purchase price of par plus unpaid interest up to, but excluding, the maturity date.

The Indenture includes customary “events of default,” which may result in the acceleration of the maturity of the Notes under the Indenture. The Indenture also includes customary covenants for convertible notes of this type.

To the extent we elect, the sole remedy for an event of default relating to our failure to comply with certain of our reporting obligations shall, for the first 360 calendar days after the occurrence of such an event of default, consist exclusively of the right to receive additional interest on the Notes at a rate equal to (i) 0.25% per annum of the principal amount of the Notes outstanding for each day during the first 180 calendar days of the 360-day period after the occurrence of such an event of default during which such event of default is continuing (or, if earlier, the date on which such event of default is cured or waived) and (ii) 0.50% per annum of the principal amount of the Notes outstanding for each day from, and including, the 181st calendar day to, and including, the 360th calendar day after the occurrence of such an event of default during which such event of default is continuing (or, if earlier, the date on which such event of default is cured or waived as provided for in the Indenture). On the 361st day after such event of default (if the event of default relating to our failure to comply with its obligations is not cured or waived prior to such 361st day), the Notes shall be subject to acceleration as provided for in the Indenture.

The Notes are accounted for in accordance with the authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. Under ASU 2020-06, the guidance requires that debt with an embedded conversion feature is accounted for in its entirety as a liability and no portion of the proceeds from the issuance of the convertible debt instrument is accounted for as attributable to the conversion feature unless the conversion feature is required to be accounted for separately as an embedded derivative or the conversion feature results in a substantial premium. The conversion feature of the Notes is not accounted for as an embedded derivative because it is considered to be indexed to our common stock, and the Notes were not issued at a premium; therefore, the Notes are accounted for in their entirety as a liability. Because we may elect to settle any conversions entirely in shares, and because settlement in shares is the default settlement method, the liability is classified as non-current.

The requirement to repurchase the Notes including unpaid interest to the maturity date in the event of a Fundamental Change is considered a put option for certain periods requiring bifurcation under ASC 815 – Derivatives and Hedging. However, given the low probability of a Fundamental Change occurring during the applicable periods, the value of the embedded derivative is immaterial.

The additional interest feature in the event of our failure to comply with certain reporting obligations is also considered an embedded derivative requiring bifurcation under ASC 815. However, due to the nature and terms of the reporting obligations, the value of the embedded derivative is immaterial.

We incurred issuance costs related to the Notes of approximately $4.5 million, which were recorded as debt issuance cost and are presented as a reduction to the Notes on our Consolidated Balance Sheets and are amortized to interest expense using the effective interest method over the term of the Notes, resulting in an effective interest rate of 1.6%.

As of March 31, 2022 and December 31, 2021, the net carrying amount of the liability for the Notes is recorded as convertible senior notes, net, in the Condensed Consolidated Balance Sheets as follows (in thousands):


	March 31,		December 31,
(in thousands)	2022		2021
Principal amount	$	900,000	$	900,000
Unamortized debt issuance costs		(3,780)		(3,933)
Net carrying amount	$	896,220	$	896,067

For the three months ended March 31, 2022, interest expense for the Notes was as follows (in thousands):


	Three Months Ended March 31,
(in thousands)	2022		2021
Contractual interest expense	$	3,375	$	1,688
Amortization of debt issuance costs		153		74
Total interest expense	$	3,528	$	1,762

As of March 31, 2022, the estimated fair value (Level 2) of the Notes was $654.3 million. The fair value of the Notes is estimated using a pricing model that is primarily affected by the trading price of our common stock and market interest rates.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies (Narrative) (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies [Abstract]
Additional liability associated with indemnification obligations	$ 0	$ 0
Operating Lease, Right-of-Use Asset	$ 44,921,000	$ 46,617,000

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 428,574	$ 460,725
Investments	534,201	583,675
Accounts receivable, net	27,852	24,241
Inventory	29,625	24,599
Prepaid expenses and other current assets	8,436	7,394
Short-term restricted cash	500	500
Total current assets	1,029,188	1,101,134
Property and equipment, net	35,510	32,504
Operating lease right-of-use assets, net	44,921	46,617
Long-term restricted cash	4,982	4,592
Intangible assets, net	410,751	410,979
Goodwill	409,974	409,974
Other long-term assets	1,340	1,170
Total assets	1,936,666	2,006,970
Current liabilities
Accounts payable	17,607	11,002
Accrued expenses	19,489	36,261
Deferred revenue, current	12,729	10,977
Operating lease liabilities, current	8,056	7,710
Other liabilities, current	3,129	5,759
Total current liabilities	61,010	71,709
Deferred revenue, non-current	25,246	25,049
Contingent consideration liability, non-current	168,654	169,717
Operating lease liabilities, non-current	47,740	49,970
Convertible senior notes, net, non-current	896,220	896,067
Other liabilities, non-current	3,218	3,471
Total liabilities	1,202,088	1,215,983
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.001 par value: Authorized 50,000 shares; No shares issued or outstanding
Common stock, $0.001 par value: Authorized 1,000,000 shares; issued and outstanding 224,329 and 220,978 shares at March 31, 2022 and December 31, 2021, respectively	224	221
Additional paid-in capital	2,038,030	2,009,945
Accumulated other comprehensive loss	(4,085)	(1,087)
Accumulated deficit	(1,299,591)	(1,218,092)
Total stockholders' equity	734,578	790,987
Total liabilities and stockholders' equity	$ 1,936,666	$ 2,006,970

Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Feb. 09, 2021	Feb. 28, 2021	Mar. 31, 2022
Financial Instruments [Line Items]
Change in estimated fair value of the liability			$ 1,063
Level 3 [Member]
Financial Instruments [Line Items]
Change in estimated fair value of the liability			$ 1,063
Convertible Senior Notes [Member]
Financial Instruments [Line Items]
Debt Instrument Face Amount	$ 900,000	$ 900,000
Debt Instrument Interest Rate Stated Percentage	1.50%	1.50%
Debt Instrument, Maturity Date	Feb. 15, 2028	Feb. 15, 2028
Measurement Input, Discount Rate [Member] \| Contingent consideration liability [Member] \| Maximum [Member]
Financial Instruments [Line Items]
Debt Instrument Interest Rate Stated Percentage			6.70%
Measurement Input, Discount Rate [Member] \| Contingent consideration liability [Member] \| Minimum [Member]
Financial Instruments [Line Items]
Debt Instrument Interest Rate Stated Percentage			5.70%

Net Loss Per Share (Antidilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Shares issuable upon conversion of convertible senior notes [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share	20,690	20,690
Options to purchase common stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share	15,851	12,332
RSUs [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share	8,875	6,527
ESPP [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share	2,026	2,336

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2022

Balance Sheet Components [Abstract]

Components of Inventory



	March 31,		December 31,
(in thousands)	2022		2021
Purchased materials	$	11,530	$	7,993
Work in process		9,202		8,611
Finished goods		8,893		7,995
Inventory	$	29,625	$	24,599

Schedule of definite-lived intangible assets from business acquisitions


		As of March 31, 2022						As of December 31, 2021
	Estimated	Gross				Net		Gross				Net
	Useful Life	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	(in years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Developed technology	15	$	11,000	$	(489)	$	10,511	$	11,000	$	(306)	$	10,694
Customer relationships	2		360		(120)		240		360		(75)		285
Total		$	11,360	$	(609)	$	10,751	$	11,360	$	(381)	$	10,979

Estimated Future Amortization Expense Of Acquisition-Related Intangible Assets With Definite Lives


		(in thousands)
Remainder of 2022	$	685
2023		838
2024		733
2025		733
2026		733
2027 and thereafter		7,029
Total	$	10,751

Future Principal Payments , Fiscal Year Maturity


(in thousands)
Remainder of 2022	$	1,231
2023		1,842
2024		490
Total	$	3,563

Termination of Merger with Illumina

3 Months Ended

Mar. 31, 2022

Termination of Merger with Illumina [Abstract]

Termination of Merger with Illumina

NOTE 4. TERMINATION OF MERGER WITH ILLUMINA

On November 1, 2018, we entered into an Agreement and Plan of Merger (as amended, the “Illumina Merger Agreement”) with Illumina, Inc. (“Illumina”) and FC Ops Corp., a wholly owned subsidiary of Illumina (“Illumina Merger Sub”). On January 2, 2020, we, Illumina and Illumina Merger Sub, entered into an agreement to terminate the Merger Agreement (the “Termination Agreement”).

Continuation Advances from Illumina

As part of the Termination Agreement, Illumina paid us cash payments (“Continuation Advances”) totaling $52.0 million. Up to the full $52.0 million of Continuation Advances paid to us were repayable without interest to Illumina if, within two years of March 31, 2020, we entered into, or consummated a Change of Control Transaction or raised at least $100 million in a single equity or debt financing (that may have multiple closings), with the amount repayable dependent on the amount raised by us.

Resulting from the issuance and sale of $900 million of 1.50% Convertible Senior Notes due February 15, 2028, $52.0 million of Continuation Advances were paid without interest to Illumina in February 2021, and a corresponding non-operating expense was recorded in the Consolidated Statements of Operations and Comprehensive (Loss) Income during the quarter ended March 31, 2021.

Balance Sheet Components (Furture Principal Payments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-term Debt	$ 896,220	$ 896,067
Omniome, Inc [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2022	1,231
2023	1,842
2024	490
Long-term Debt	$ 3,563

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Balance Sheet Components

3 Months Ended

Mar. 31, 2022

Balance Sheet Components [Abstract]

Balance Sheet Components

NOTE 6. BALANCE SHEET COMPONENTS

Short-term Restricted Cash

As of March 31, 2022 and December 31, 2021, the short-term restricted cash balance was $0.5 million, which was comprised of security deposits for the credit cards of employees.

Inventory, net

As of March 31, 2022 and December 31, 2021, our inventory, net, consisted of the following components:



	March 31,		December 31,
(in thousands)	2022		2021
Purchased materials	$	11,530	$	7,993
Work in process		9,202		8,611
Finished goods		8,893		7,995
Inventory	$	29,625	$	24,599

Long-term Restricted Cash

For our facility located at 1305 O’Brien Drive, Menlo Park, California (the “O’Brien Lease”), we were required to establish a letter of credit for the benefit of the landlord and to submit $4.5 million as a deposit for the letter of credit in October 2015. Subsequently, pursuant to the terms of the O’Brien Lease, beginning on May 1, 2019, the amount of the letter of credit was reduced by $0.5 million each year thereafter on May 1. As such, $3.0 million was recorded in long-term restricted cash related to the O’Brien Lease in the Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021, respectively. In connection with the acquisition of Omniome in September 2021, we acquired $1.6 million of long-term restricted cash related to a letter of credit established for a facility lease. At March 31, 2022, we had an additional $0.4 million in long-term restricted cash primarily related to lease deposits.

Intangible Assets and Goodwill

Intangible assets include acquired in-process research and development (IPR&D) of $400 million as a result of the Omniome acquisition in September 2021. The IPR&D will remain on our consolidated balance sheet as an indefinite-lived intangible asset until the completion or abandonment of the associated research and development activities. During the development period following the acquisition, IPR&D will not be amortized, but instead will be tested for impairment annually and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. Upon completion of the development, we will begin to amortize the asset over the life of the product, or record an impairment charge if the asset is determined to be impaired.

In addition to IPR&D, we had the following definite-lived intangible assets from business acquisitions (in thousands, except years):


		As of March 31, 2022						As of December 31, 2021
	Estimated	Gross				Net		Gross				Net
	Useful Life	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	(in years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Developed technology	15	$	11,000	$	(489)	$	10,511	$	11,000	$	(306)	$	10,694
Customer relationships	2		360		(120)		240		360		(75)		285
Total		$	11,360	$	(609)	$	10,751	$	11,360	$	(381)	$	10,979

The estimated future amortization expense of acquisition-related intangible assets with definite lives is estimated as follows:


		(in thousands)
Remainder of 2022	$	685
2023		838
2024		733
2025		733
2026		733
2027 and thereafter		7,029
Total	$	10,751

We review definite-lived intangible assets for impairment when indication of potential impairment exists, such as a significant reduction in cash flows associated with the assets.

Goodwill is reviewed for impairment at least annually during the second quarter, or more frequently if an event occurs indicating the potential for impairment. We had no indicators of impairment related to goodwill during the three months ended March 31, 2022.

Deferred revenue

As of March 31, 2022, we had a total of $38.0 million of deferred revenue, $12.7 million of which was recorded as deferred revenue, current and primarily relates to deferred service contract revenues to be recognized over the next year and the remaining $25.2 million was recorded as deferred revenue, non-current. Of the deferred revenue, non-current balance, $23.5 million relates to payments received under the Invitae collaboration described in Note 3. Invitae Collaboration in Part I, Item 1 of this Quarterly Report on Form 10-Q and $1.7 million primarily relates to deferred service contract revenues and is scheduled to be recognized in the next 5 years. Revenue recorded in the three months ended March 31, 2022 includes $4.0 million of previously deferred revenue that was included in deferred

revenue, current as of December 31, 2021. Contract assets as of March 31, 2022 and December 31, 2021 were not material.

As of March 31, 2022, we had a total of $0.6 million of deferred commissions included in prepaid expenses and other current assets which is recognized as sales, general and administrative expense as the related revenue is recognized. Costs to obtain a contract are expensed as incurred if the amortization period would have been a year or less.

Term loans

In connection with the acquisition of Omniome, we acquired $1.3 million in short-term debt and $3.0 million in long-term debt relating to a term loan facility that Omniome obtained in April 2020. Borrowings on the term loan facility were used to fund Omniome’s purchases of equipment, which serves as collateral. Each term loan has a term of 43 months and bears a fixed interest rate of approximately 17% annually. The fee for the elective option to prepay all, but not less than all, of the borrowed amounts at any time after the 24^th month and before the 43^rd month after the commencement date, is 4% of the outstanding loan balance. Payments are made in equal monthly installments including principal and interest. The following table presents the future principal payments on the term loans:


(in thousands)
Remainder of 2022	$	1,231
2023		1,842
2024		490
Total	$	3,563

Stockholders' Equity (Summary of Stock Option Activity) (Details) - $ / shares shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Performance-based stock options [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares, Outstanding at December 31, 2021	304
Number of shares, Outstanding at March 31, 2022	304	304
Weighted average exercise price, Outstanding at December 31, 2021	$ 4.71
Weighted average exercise price, Outstanding at March 31, 2022	$ 4.71	$ 4.71
$1.16 – 46.37 [Member] \| Time-based stock option [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares, Outstanding at December 31, 2021	12,159
Number of shares, Outstanding at March 31, 2022		12,159
Exercise price, lower range		$ 1.16
Exercise price, upper range		46.37
Weighted average exercise price, Outstanding at December 31, 2021	$ 11.38
Weighted average exercise price, Outstanding at March 31, 2022		11.38
$10.18 – 16.58 [Member] \| Time-based stock option [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares, Granted	3,798
Exercise price, lower range	$ 10.18
Exercise price, upper range	16.58
Weighted average exercise price, Granted	11.76
$2.05 – $4.90 [Member] \| Performance-based stock options [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range		4.71
$4.71 - $4.90 [Member] \| Performance-based stock options [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price, lower range	4.71
Exercise price, upper range	$ 4.90	$ 4.90
$1.16 - 8.90 [Member] \| Time-based stock option [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares, Exercised	(178)
Exercise price, lower range	$ 1.16
Exercise price, upper range	8.90
Weighted average exercise price, Exercised	$ 3.38
$2.47 – 46.37 [Member] \| Time-based stock option [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares, Canceled	(232)
Exercise price, lower range	$ 2.47
Exercise price, upper range	46.37
Weighted average exercise price, Canceled	$ 27.74
$1.16 – 46.37 [Member] \| Time-based stock option [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares, Outstanding at March 31, 2022	15,547
Exercise price, lower range	$ 1.16
Exercise price, upper range	46.37
Weighted average exercise price, Outstanding at March 31, 2022	$ 11.32

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Net Loss Per Share [Abstract]

Computation of Basic and Diluted Net Loss per Share


	Three Months Ended March 31,
	2022		2021
Numerator:
Net loss	$	(81,499)	$	(87,435)

Denominator:
Basic
Weighted average shares used in computing basic net loss		222,289		194,790
Basic net loss per share	$	(0.37)	$	(0.45)
Diluted
Weighted average shares used in computing diluted net loss per share		222,289		194,790
Diluted net loss per share	$	(0.37)	$	(0.45)

Antidilutive Shares Excluded from Computation of Diluted Net Loss per Share



	Three Months Ended March 31,
(in thousands)	2022	2021
Shares issuable upon conversion of convertible senior notes	20,690	20,690
Options to purchase common stock	15,851	12,332
RSUs	8,875	6,527
ESPP shares	2,026	2,336

Organization and Significant Accounting Policies	3 Months Ended
Organization and Significant Accounting Policies	Mar. 31, 2022
Organization and Significant Accounting Policies[Abstract]
Organization and Significant Accounting Policies	NOTE 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES We are a life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technology under development stem from two highly differentiated core technologies focused on accuracy, quality and completeness which include our existing HiFi long read sequencing technology and our emerging short read Sequencing by Binding (SBB^®) technology. Our products address solutions across a broad set of applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. Our focus is on providing our customers with advanced sequencing technologies with higher throughput and improved workflows that we believe will enable dramatic advancements in routine healthcare. Our customers include academic and governmental research institutions, commercial testing and service laboratories, genome centers, public health labs, hospitals and clinical research institutes, contract research organizations (CROs), pharmaceutical companies and agricultural companies. References in this report to “PacBio,” “we,” “us,” the “Company,” and “our” refer to Pacific Biosciences of California, Inc. and its consolidated subsidiaries. Basis of Presentation and Consolidation Our unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or U.S. GAAP, as set forth in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC. The unaudited condensed consolidated financial statements include the accounts of Pacific Biosciences and our wholly owned subsidiaries. Certain information and footnote disclosures typically included in our audited financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on a consistent basis with the December 31, 2021 audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state our financial position, results of operations, comprehensive income (loss), and cash flows for the period, but are not necessarily indicative of the results to be expected for the entire year or any future periods. All intercompany transactions and balances have been eliminated. The financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2021. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. On an ongoing basis, we evaluate our significant estimates including, but not limited to, the valuation of inventory, the determination of stand-alone selling prices for revenue recognition, the fair value of contingent consideration, the valuation of acquired intangible assets, the fair value of certain equity awards, the useful lives assigned to long-lived assets, the computation of provisions for income taxes, the borrowing rate used in calculating the operating lease right-of-use assets and operating lease liabilities, the probability associated with variable payments under partnership development agreements, and the valuations related to our convertible senior notes. While the extent of the potential impact of the ongoing COVID-19 pandemic on our business is highly uncertain, we considered information available related to assumptions and estimates used to determine the results reported and asset valuations as of March 31, 2022. Actual results could differ materially from these estimates. Cash, Cash Equivalents, and Investments We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. We classify our investments in debt securities as available-for sale and report the investments at fair value in current assets. We evaluate our available-for-sale investments in unrealized loss positions and assess whether the unrealized loss is credit-related. Unrealized gains and losses that are not credit-related are recognized in accumulated other comprehensive (loss) income in stockholders’ equity. Realized gains and losses, expected credit losses, as well as interest income, on available-for-sale securities are also reported in other income, net. The cost used in the determination of gains and losses of securities sold is based on the specific identification method. The cost of marketable securities is adjusted for the amortization of premiums and discounts to expected maturity. Premium and discount amortization is recorded in other income, net. Our investment portfolio at any point in time contains investments in cash deposits, money market funds, commercial paper, corporate debt securities and US government and agency securities with high credit ratings. We have established guidelines regarding diversification and maturities of investments with the objectives of maintaining safety and liquidity, while maximizing yield. Concentration and Other Risks For the three months ended March 31, 2022, two customers accounted for approximately 14% and 11%, respectively, of total revenue during the period. For the three months ended March 31, 2021, one customer accounted for approximately 12% of total revenue during the period. No other customers exceeded 10% during those periods. As of March 31, 2022, 56% of our accounts receivable were from domestic customers, compared to 53% as of December 31, 2021. As of March 31, 2022, one customer represented 17% of our accounts receivable, while no customer represented 10% or greater of our net accounts receivable as of December 31, 2021. Recent Accounting Pronouncements Recently Adopted Accounting Standards There are no accounting standards updates (“ASUs”) that have been recently adopted. Significant Accounting Policies There have been no changes to our significant accounting policies as disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021, however, as a result of certain changes to the standard contractual terms and conditions with customers implemented during the quarter ended March 31, 2022, we concluded a change in the application of our accounting policy, in accordance with ASC 606, was appropriate. Specifically, we modified the standard contractual terms with customers during the current quarter, to reflect transfer of title and risk of loss and right to invoice upon delivery. We also updated the terms of the warranty provided with the instrument to remove the service component. As a result, the warranty is no longer a separate performance obligation and, accordingly, we accrue for the cost of the assurance warranty when revenue of the instrument is recognized. In addition, because of technical enhancements associated with our more recent instrument releases, including the Sequel IIe systems, installation services are now distinct from the instrument itself. Therefore, instrument revenue is now recognized upon transfer of control of the asset to the customer, which is generally upon delivery for sales made to our non-distributor customers.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies [Abstract]

Commitments and Contingencies

NOTE 8. COMMITMENTS AND CONTINGENCIES

The Company has entered into various operating lease agreements, primarily relating to our corporate offices. See Note 8 – Commitments and Contingencies, subsection titled “Leases”, in Part II, Item 8 of the Annual Report on Form 10-K for the year ended December 31, 2021 for information regarding the Company’s maturity of lease liabilities under its lease agreements.

Contingencies

We may become involved in legal proceedings, claims and assessments from time to time in the ordinary course of business. We accrue liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

Legal

U.S. District Court Proceedings

On September 26, 2019, Personal Genomics of Taiwan, Inc. (“PGI”) filed a complaint in the U.S. District Court for the District of Delaware against us for patent infringement (C.A. No. 19-cv-1810) (the “PGI District Court matter”). The matter from this complaint is based on PGI’s U.S. Patent No. 7,767,441 (the “‘441 Patent”). We plan to vigorously defend in this matter. On November 20, 2019, we filed our answer to the complaint, denying infringement and seeking a declaratory judgement of invalidity of the ‘441 Patent.

On June 22, 2020, we filed a petition requesting institution of an inter-partes review (IPR) to the Patent Trial and Appeals Board (the “Board”) at the United States Patent Office requesting the Board to find a set of claims in the ‘441 Patent invalid. On June 27, 2020, we filed a second petition requesting institution of an IPR requesting the Board to find another set of claims in the ‘441 Patent invalid. The two petitions (the “PacBio IPR Petitions”) requesting IPRs assert that all of the claims relevant to the PGI complaint are invalid. On January 19, 2021, the Board ordered that both PacBio IPR Petitions are instituted on all grounds presented. On January 18, 2022, the Board issued decisions on the two IPRs. In one IPR, all challenged claims were found unpatentable including PGI’s core device claims. In the second IPR, the board did not find the disputed claims unpatentable. We are appealing the decision in the second IPR to the U.S. Court of Appeals for the Federal Circuit.

On August 19, 2020, the court ordered a stay of the PGI District Court matter based on a joint stipulation by the parties pending a final written decision on the IPRs. Following the final decision on the IPRs described above, on February 2, 2022, the judge ordered that the PGI District Court matter be reopened. We plan to vigorously defend against the remaining claims.

Proceedings in China

On May 12, 2020, PGI filed a complaint in the Wuhan Intermediate People’s Court in China alleging infringement of one or more claims of China patent No. CN101743321B (the “CN321 Patent”), which is related to the ‘441 Patent. We were served on January 20, 2021 and plan to vigorously defend in this matter. On November 23, 2020 we filed an Invalidation Petition at the China National Intellectual Property Administration (CNIPA) demonstrating the invalidity of the claims in the CN321 Patent on grounds of insufficient disclosure, and the lack of support, essential technical features, clarity, novelty, and inventiveness. A hearing in the invalidation proceeding at the CNIPA was held on April 29, 2021. On September 2, 2021, the CNIPA issued its decision on the Invalidation Petition and determined that all claims (1-61) of the CN321 patent were invalid. We have filed a petition with the Wuhan Intermediate People’s court requesting dismissal of the infringement action. On December 1, 2021, PGI filed an appeal with the Beijing IP Court, contesting the CNIPA decision.

Other Proceedings

From time to time, we may also be involved in a variety of other claims, lawsuits, investigations and proceedings relating to securities laws, product liability, patent infringement, contract disputes, employment and other matters that arise in the normal course of our business. In addition, third parties may, from time to time, assert claims against us in the form of letters and other communications.

We record a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We currently do not believe that the ultimate outcome of any of the matters described above is probable or reasonably estimable, or that these matters will have a material adverse effect on our business; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on us because of litigation and settlement costs, diversion of management resources and other factors.

Indemnification

Pursuant to Delaware law and agreements entered into with each of our directors and officers, we may have obligations, under certain circumstances, to hold harmless and indemnify each of our directors and officers against losses suffered or incurred by the indemnified party in connection with their service to us, and judgements, fines, settlements and expenses related to claims arising against such directors and officers to the fullest extent permitted under Delaware law, our bylaws and our certificate of incorporation. We also enter and have entered into indemnification agreements with our directors and officers that may require us to indemnify them against liabilities that arise by reason of their status or service as directors or officers, except as prohibited by applicable law. In addition, we may have obligations to hold harmless and indemnify third parties involved with our fundraising efforts and their respective affiliates, directors, officers, employees, agents or other representatives against any and all losses, claims, damages and liabilities related to claims arising against such parties pursuant to the terms of agreements entered into between such third parties and us in connection with such fundraising efforts. To the extent that any such indemnification obligations apply to the lawsuits described above, any associated expenses incurred are included within the related accrued litigation expense amounts. No additional liability associated with such indemnification obligations has been recorded as of March 31, 2022 and December 31, 2021.

Stockholders' Equity (Schedule of Fair Value of Employee Stock Purchase Plan) (Details) - ESPP [Member] - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	70.00%	68.00%
Risk-free interest rate, minimum	0.60%	0.07%
Risk-free interest rate, maximum	1.31%
Weighted average grant date fair value, per share	$ 5.42	$ 29.26
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 months	6 months
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	2 years	2 years
Risk-free interest rate, maximum		0.13%

Revenue (Schedule of Revenue by Geographic Location) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 33,173	$ 28,997
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	19,082	12,157
Europe (including the Middle East and Africa) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	5,700	8,325
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 8,391	$ 8,515

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-SubTopic 10
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 4
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Organization and Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2022
Organization and Significant Accounting Policies[Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation Our unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States, or U.S. GAAP, as set forth in the Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC. The unaudited condensed consolidated financial statements include the accounts of Pacific Biosciences and our wholly owned subsidiaries. Certain information and footnote disclosures typically included in our audited financial statements have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements have been prepared on a consistent basis with the December 31, 2021 audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state our financial position, results of operations, comprehensive income (loss), and cash flows for the period, but are not necessarily indicative of the results to be expected for the entire year or any future periods. All intercompany transactions and balances have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes to the financial statements. On an ongoing basis, we evaluate our significant estimates including, but not limited to, the valuation of inventory, the determination of stand-alone selling prices for revenue recognition, the fair value of contingent consideration, the valuation of acquired intangible assets, the fair value of certain equity awards, the useful lives assigned to long-lived assets, the computation of provisions for income taxes, the borrowing rate used in calculating the operating lease right-of-use assets and operating lease liabilities, the probability associated with variable payments under partnership development agreements, and the valuations related to our convertible senior notes. While the extent of the potential impact of the ongoing COVID-19 pandemic on our business is highly uncertain, we considered information available related to assumptions and estimates used to determine the results reported and asset valuations as of March 31, 2022. Actual results could differ materially from these estimates.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents, and Investments We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. We classify our investments in debt securities as available-for sale and report the investments at fair value in current assets. We evaluate our available-for-sale investments in unrealized loss positions and assess whether the unrealized loss is credit-related. Unrealized gains and losses that are not credit-related are recognized in accumulated other comprehensive (loss) income in stockholders’ equity. Realized gains and losses, expected credit losses, as well as interest income, on available-for-sale securities are also reported in other income, net. The cost used in the determination of gains and losses of securities sold is based on the specific identification method. The cost of marketable securities is adjusted for the amortization of premiums and discounts to expected maturity. Premium and discount amortization is recorded in other income, net. Our investment portfolio at any point in time contains investments in cash deposits, money market funds, commercial paper, corporate debt securities and US government and agency securities with high credit ratings. We have established guidelines regarding diversification and maturities of investments with the objectives of maintaining safety and liquidity, while maximizing yield.
Concentration and Credit Risks	Concentration and Other Risks For the three months ended March 31, 2022, two customers accounted for approximately 14% and 11%, respectively, of total revenue during the period. For the three months ended March 31, 2021, one customer accounted for approximately 12% of total revenue during the period. No other customers exceeded 10% during those periods. As of March 31, 2022, 56% of our accounts receivable were from domestic customers, compared to 53% as of December 31, 2021. As of March 31, 2022, one customer represented 17% of our accounts receivable, while no customer represented 10% or greater of our net accounts receivable as of December 31, 2021.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Standards There are no accounting standards updates (“ASUs”) that have been recently adopted.
Significant Accounting Policies	Significant Accounting Policies There have been no changes to our significant accounting policies as disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021, however, as a result of certain changes to the standard contractual terms and conditions with customers implemented during the quarter ended March 31, 2022, we concluded a change in the application of our accounting policy, in accordance with ASC 606, was appropriate. Specifically, we modified the standard contractual terms with customers during the current quarter, to reflect transfer of title and risk of loss and right to invoice upon delivery. We also updated the terms of the warranty provided with the instrument to remove the service component. As a result, the warranty is no longer a separate performance obligation and, accordingly, we accrue for the cost of the assurance warranty when revenue of the instrument is recognized. In addition, because of technical enhancements associated with our more recent instrument releases, including the Sequel IIe systems, installation services are now distinct from the instrument itself. Therefore, instrument revenue is now recognized upon transfer of control of the asset to the customer, which is generally upon delivery for sales made to our non-distributor customers.
Fair Value Of Financial Instruments Policy	Fair Value of Financial Instruments Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy established under GAAP requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. We consider an active market as one in which transactions for the asset or liability occurs with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, we view an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, our non-performance risk, or that of our counterparty, is considered in determining the fair values of liabilities and assets, respectively. We classify our cash deposits and money market funds within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted market prices. We classify our investments as Level 2 instruments based on market pricing and other observable inputs. We did not classify any of our investments within Level 3 of the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability. The carrying amount of our accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses and other liabilities, current, approximate fair value due to their short maturities. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table sets forth the fair value of our financial assets and liabilities that were measured on a recurring basis as of March 31, 2022 and December 31, 2021 respectively:

Financial Instruments

3 Months Ended

Mar. 31, 2022

Financial Instruments [Abstract]

Financial Instruments

NOTE 5. FINANCIAL INSTRUMENTS

Fair Value of Financial Instruments

Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The fair value hierarchy established under GAAP requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows:

Level 1: quoted prices in active markets for identical assets or liabilities;

Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

We consider an active market as one in which transactions for the asset or liability occurs with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, we view an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, our non-performance risk, or that of our counterparty, is considered in determining the fair values of liabilities and assets, respectively.

We classify our cash deposits and money market funds within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted market prices. We classify our investments as Level 2 instruments based on market pricing and other observable inputs. We did not classify any of our investments within Level 3 of the fair value hierarchy.

Assets and liabilities measured at fair value are classified in their entirety based on the lowest level input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability.

The carrying amount of our accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses and other liabilities, current, approximate fair value due to their short maturities.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the fair value of our financial assets and liabilities that were measured on a recurring basis as of March 31, 2022 and December 31, 2021 respectively:



	March 31, 2022								December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Cash and money market funds	$	227,251	$	—	$	—	$	227,251	$	327,315	$	—	$	—	$	327,315
Commercial paper		—		143,958		—		143,958		—		133,185		—		133,185
U.S. government & agency securities		—		32,377		—		32,377		—		225		—		225
U.S. Treasury securities		—		24,988		—		24,988		—		—		—		—
Total cash and cash equivalents		227,251		201,323		—		428,574		327,315		133,410		—		460,725
Investments:
Commercial paper		—		141,976		—		141,976		—		187,632		—		187,632
Corporate debt securities		—		5,313		—		5,313		—		8,968		—		8,968
U.S. government & agency securities		—		386,912		—		386,912		—		387,075		—		387,075
Total investments		—		534,201		—		534,201		—		583,675		—		583,675
Short-term restricted cash:
Cash		500		—		—		500		500		—		—		500
Long-term restricted cash:
Cash		4,982		—		—		4,982		4,592		—		—		4,592
Total assets measured at fair value	$	232,733	$	735,524	$	—	$	968,257	$	332,407	$	717,085	$	—	$	1,049,492

Liabilities
Contingent consideration	$	—	$	—	$	168,654	$	168,654	$	—	$	—	$	169,717	$	169,717
Total liabilities measured at fair value	$	—	$	—	$	168,654	$	168,654	$	—	$	—	$	169,717	$	169,717

We classify contingent consideration, which was incurred in connection with the acquisition of Omniome, within Level 3 as factors used to develop the estimate of fair value include unobservable inputs that are not supported by market activity and are significant to the fair value.

On a quarterly basis, we estimate the fair value of the contingent consideration liability by discounting the probability-weighted outcomes to present value using an estimate of our borrowing rate and the risk-free rate. The potential outcomes of milestone achievement dates are within the period from December 31, 2022 to June 30, 2025. A decrease in the probability of an earlier scenario within this range would result in a decrease in the fair value of the liability. The discount rates used are the sum of the U.S. risk-free rate and the estimated subordinated credit spread for B- and B credit rating, which range from 5.7% to 6.7%. An increase in the discount rates used can also result in the decrease in the fair value of liability, which was the primary factor in the $1.1 million decrease in liability at March 31, 2022. Changes in our estimated subordinated credit spread can result in changes in the fair value of the contingent consideration liability, where a lower credit spread may result in an increased liability valuation.

Changes in the estimated fair value of the contingent consideration liability for the three months ended March 31, 2022 were as follows:


(in thousands)		Level 3
Beginning balance as of December 31, 2021	$	169,717
Change in estimated fair value		(1,063)
Ending balance as of March 31, 2022	$	168,654

Changes to the fair value are recorded as the Change in fair value of contingent consideration in the Condensed Consolidated Statement of Operations and Comprehensive Loss.

For the three months ended March 31, 2022, there were no transfers between Level 1, Level 2, or Level 3 assets or liabilities reported at fair value on a recurring basis, and our valuation techniques did not change compared to the prior year.

The following tables summarize our cash, cash equivalents and investments as of March 31, 2022 and December 31, 2021 (in thousands):



	As of March 31, 2022
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
(in thousands)	Cost		gains		losses		Value
Cash and cash equivalents:
Cash and money market funds	$	227,251	$	—	$	—	$	227,251
Commercial paper		143,964		2		(8)		143,958
U.S. government & agency securities		32,386		—		(9)		32,377
U.S. Treasury securities		24,989		—		(1)		24,988
Total cash and cash equivalents		428,590		2		(18)		428,574
Investments:
Commercial paper		142,266		1		(291)		141,976
Corporate debt securities		5,322		—		(9)		5,313
U.S. government & agency securities		390,682		7		(3,777)		386,912
Total investments		538,270		8		(4,077)		534,201
Total cash, cash equivalents and investments	$	966,860	$	10	$	(4,095)	$	962,775
Short-term restricted cash:
Cash	$	500	$	—	$	—	$	500
Long-term restricted cash:
Cash	$	4,982	$	—	$	—	$	4,982

	As of December 31, 2021
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
(in thousands)	Cost		gains		losses		Value
Cash and cash equivalents:
Cash and money market funds	$	327,316	$	—	$	—	$	327,316
Commercial paper		133,190		—		(5)		133,185
U.S. government & agency securities		225		—		—		224
Total cash and cash equivalents		460,731		—		(5)		460,725
Investments:
Commercial paper		187,705		—		(73)		187,632
Corporate debt securities		8,964		9		(5)		8,968
U.S. government & agency securities		388,088		1		(1,014)		387,075
Total investments		584,757		10		(1,092)		583,675
Total cash, cash equivalents and investments	$	1,045,488	$	10	$	(1,097)	$	1,044,400
Short-term restricted cash:
Cash	$	500	$	—	$	—	$	500
Long-term restricted cash:
Cash	$	4,592	$	—	$	—	$	4,592

The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of March 31, 2022:



(in thousands)	Fair Value
Due in one year or less	$	651,213
Due after one year through five years		84,311
Total investments	$	735,524

Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.

Stockholders' Equity (Schedule of Fair Value of Employee Stock Options) (Details) - Options to purchase common stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	4 years 7 months 6 days	4 years 7 months 6 days
Expected volatility	70.00%	68.00%
Risk-free interest rate	1.76%	0.50%
Weighted average grant date fair value per share	$ 6.66	$ 20.21

Commitments and Contingencies (Schedule of Amount, Timing and Uncertainty of Cash Flows from Operating Leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Classification
Operating lease liabilities, current	$ 8,056	$ 7,710
Operating lease liabilities, non-current	$ 47,740	$ 49,970

Revenue (Tables)

3 Months Ended

Mar. 31, 2022

Revenue [Abstract]

Schedule of Revenue by Geographic Location



	Three Months Ended March, 31
(in thousands)	2022		2021
Americas	$	19,082	$	12,157
Europe (including the Middle East and Africa)		5,700		8,325
Asia Pacific		8,391		8,515
Total	$	33,173	$	28,997

Summary of Revenue by Category



	Three Months Ended March 31,
(in thousands)	2022		2021
Instrument revenue	$	15,550	$	14,939
Consumable revenue		12,694		10,364
Product revenue		28,244		25,303
Service and other revenue		4,929		3,694
Total revenue	$	33,173	$	28,997

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Significant Accounting Policies [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis



	March 31, 2022								December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash and cash equivalents:
Cash and money market funds	$	227,251	$	—	$	—	$	227,251	$	327,315	$	—	$	—	$	327,315
Commercial paper		—		143,958		—		143,958		—		133,185		—		133,185
U.S. government & agency securities		—		32,377		—		32,377		—		225		—		225
U.S. Treasury securities		—		24,988		—		24,988		—		—		—		—
Total cash and cash equivalents		227,251		201,323		—		428,574		327,315		133,410		—		460,725
Investments:
Commercial paper		—		141,976		—		141,976		—		187,632		—		187,632
Corporate debt securities		—		5,313		—		5,313		—		8,968		—		8,968
U.S. government & agency securities		—		386,912		—		386,912		—		387,075		—		387,075
Total investments		—		534,201		—		534,201		—		583,675		—		583,675
Short-term restricted cash:
Cash		500		—		—		500		500		—		—		500
Long-term restricted cash:
Cash		4,982		—		—		4,982		4,592		—		—		4,592
Total assets measured at fair value	$	232,733	$	735,524	$	—	$	968,257	$	332,407	$	717,085	$	—	$	1,049,492

Liabilities
Contingent consideration	$	—	$	—	$	168,654	$	168,654	$	—	$	—	$	169,717	$	169,717
Total liabilities measured at fair value	$	—	$	—	$	168,654	$	168,654	$	—	$	—	$	169,717	$	169,717

Computation of Basic and Diluted Net Loss per Share


	Three Months Ended March 31,
	2022		2021
Numerator:
Net loss	$	(81,499)	$	(87,435)

Denominator:
Basic
Weighted average shares used in computing basic net loss		222,289		194,790
Basic net loss per share	$	(0.37)	$	(0.45)
Diluted
Weighted average shares used in computing diluted net loss per share		222,289		194,790
Diluted net loss per share	$	(0.37)	$	(0.45)

Anti-dilutive Shares Excluded from Computation of Diluted Net Income (Loss) per Share



	Three Months Ended March 31,
(in thousands)	2022	2021
Shares issuable upon conversion of convertible senior notes	20,690	20,690
Options to purchase common stock	15,851	12,332
RSUs	8,875	6,527
ESPP shares	2,026	2,336

- Definition

+ References + Details

Termination of Merger with Illumina (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Feb. 09, 2021	Feb. 28, 2021	Mar. 31, 2021	Mar. 31, 2020
Merger Termination [Line Items]
(Loss)/Gain from Continuation Advances from Illumina		$ (52,000)	$ (52,000)	$ 52,000
Equity or debt financing that must be raised in a single transaction				$ 100,000
Convertible Senior Notes [Member]
Merger Termination [Line Items]
Principal amount of notes	$ 900,000	$ 900,000
Debt instrument, stated interest rate	1.50%	1.50%
Maturity date	Feb. 15, 2028	Feb. 15, 2028

Convertible Senior Notes (Narrative) (Details) - Convertible Senior Notes [Member] - USD ($)			1 Months Ended
	Feb. 16, 2021	Feb. 09, 2021	Feb. 28, 2021	Mar. 31, 2022
Debt Instrument [Line Items]
Principal amount of notes		$ 900,000,000	$ 900,000,000
Debt instrument, stated interest rate		1.50%	1.50%
Maturity date		Feb. 15, 2028	Feb. 15, 2028
Issuance date	Feb. 16, 2021
Shares issued conversion rate per $1,000 principal amount	22.9885
Principal amount for conversion rate	$ 1,000
Conversion price per share	$ 43.50
Debt redemption, percentage of conversion price	150.00%
Debt redemption, trading days	20 days
Debt redemption, consecutive trading days	30 days
Redemption price, percentage	100.00%
Debt issuance costs				$ 4,500,000
Debt instrument, effective interest rate				1.60%
Fair value of convertible debt				$ 654,300,000
Each Day During the First 180 Days [Member]
Debt Instrument [Line Items]
Additional interest in the event of default	0.25%
181st Day to 360th Day [Member]
Debt Instrument [Line Items]
Additional interest in the event of default	0.50%

Stockholders' Equity (Schedule of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 22,703	$ 10,165
Cost of revenue [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,758	992
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	8,965	3,048
Sales, general and administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 11,980	$ 6,125

Revenue (Summary of Revenue by Category) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Product Information [Line Items]
Total revenue	$ 33,173	$ 28,997
Product [Member]
Product Information [Line Items]
Total revenue	28,244	25,303
Instrument [Member]
Product Information [Line Items]
Total revenue	15,550	14,939
Consumable [Member]
Product Information [Line Items]
Total revenue	12,694	10,364
Service and Other [Member]
Product Information [Line Items]
Total revenue	$ 4,929	$ 3,694

- Definition

+ References

+ Details

Invitae Collaboration	3 Months Ended
Invitae Collaboration	Mar. 31, 2022
Invitate Collaboration [Abstract]
Invitae Collaboration	NOTE 3. INVITAE COLLABORATION On January 12, 2021 we entered into a multi-year Development and Commercialization Agreement (the “Development Agreement”) with Invitae Corporation (“Invitae”). Pursuant to the Development Agreement, Invitae is providing certain funding to us to develop products relating to production-scale high-throughput sequencing (“Program Products”). If Program Products become commercially available, Invitae may purchase the Program Products. We are currently renegotiating the terms of the Development Agreement. As of March 31, 2022 and December 31, 2021, we have recognized payments received from Invitae of $23.5 million in deferred revenue, non-current, on the Consolidated Balance Sheet.

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 33,173	$ 28,997
Cost of revenue:
Cost of product revenue	14,820	12,697
Cost of service and other revenue	4,015	3,323
Amortization of Intangible Assets	183
Total cost of revenue	19,018	16,020
Gross profit	14,155	12,977
Operating expense:
Research and development	52,937	20,548
Sales, general and administrative	39,804	26,139
Change in fair value of contingent consideration	(1,063)
Total operating expense	91,678	46,687
Operating loss	(77,523)	(33,710)
(Loss)/Gain from Continuation Advances from Illumina		(52,000)
Interest expense	(3,697)	(1,789)
Other (expense) income, net	(279)	64
Net loss	(81,499)	(87,435)
Other comprehensive loss:
Unrealized loss on investments	(2,998)	(11)
Comprehensive loss	$ (84,497)	$ (87,446)
Net loss per share:
Basic	$ (0.37)	$ (0.45)
Diluted	$ (0.37)	$ (0.45)
Weighted average shares outstanding used in calculating net loss per share:
Basic	222,289	194,790
Diluted	222,289	194,790
Product [Member]
Revenue:
Total revenue	$ 28,244	$ 25,303
Service and Other [Member]
Revenue:
Total revenue	$ 4,929	$ 3,694

Convertible Senior Notes (Tables)

3 Months Ended

Mar. 31, 2022

Convertible Senior Notes [Abstract]

Schedule of Net Carrying Amount


	March 31,		December 31,
(in thousands)	2022		2021
Principal amount	$	900,000	$	900,000
Unamortized debt issuance costs		(3,780)		(3,933)
Net carrying amount	$	896,220	$	896,067

Schedule of Interest Expense


	Three Months Ended March 31,
(in thousands)	2022		2021
Contractual interest expense	$	3,375	$	1,688
Amortization of debt issuance costs		153		74
Total interest expense	$	3,528	$	1,762

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Financial Instruments (Changes in estimated fair value of contingent consideration) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	$ 169,717
Change in estimated fair value	(1,063)
Ending balance	168,654
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	169,717
Change in estimated fair value	(1,063)
Ending balance	$ 168,654

Balance Sheet Components (Components of Inventory) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Balance Sheet Components [Abstract]
Purchased materials	$ 11,530	$ 7,993
Work in process	9,202	8,611
Finished goods	8,893	7,995
Inventory	$ 29,625	$ 24,599

Convertible Senior Notes (Schedule of Net Carrying Amount) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Convertible Senior Notes [Abstract]
Principal amount	$ 900,000	$ 900,000
Unamortized debt issuance costs	(3,780)	(3,933)
Net carrying amount	$ 896,220	$ 896,067

- Definition

+ References + Details

Net Loss Per Share (Computation Of Basic And Diluted Net Loss Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator
Net loss	$ (81,499)	$ (87,435)
Basic
Weighted average shares used in computing basic net loss	222,289	194,790
Basic net loss per share	$ (0.37)	$ (0.45)
Diluted
Weighted average shares used in computing basic net loss per share	222,289	194,790
Weighted average shares used in computing diluted net loss per share	222,289	194,790
Diluted net loss per share	$ (0.37)	$ (0.45)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Balance Sheet Components (Definite-lived Intangible Assets from Business Acquisitions) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,360	$ 11,360
Accumulated Amortization	(609)	(381)
Net Carrying Amount	10,751	10,979
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,000	11,000
Accumulated Amortization	(489)	(306)
Net Carrying Amount	$ 10,511	10,694
Estimated Useful Life (in years)	15 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 360	360
Accumulated Amortization	(120)	(75)
Net Carrying Amount	$ 240	$ 285
Estimated Useful Life (in years)	2 years

Business Acquisitions

3 Months Ended

Mar. 31, 2022

Business acquisitions [Abstract]

Business acquisitions

NOTE 2. BUSINESS ACQUISITIONS

Omniome, Inc.

On September 20, 2021, we completed our acquisition of Omniome, Inc. (“Omniome”), a San Diego-based company developing a highly differentiated, proprietary short-read DNA sequencing platform capable of delivering high accuracy.

In connection with the acquisition, the contingent consideration of $200 million (composed of $100 million in cash and $100 million in shares of our common stock) is due upon the achievement of a milestone, defined as the first commercial shipment to a customer of a nucleotide sequencing platform, comprising both an instrument and related consumables, that utilizes SBB technology. The number of shares of stock to be issued will be determined using the volume-weighted average of the trading prices of our common stock for the twenty trading days ending with and including the trading day that is two days immediately prior to the achievement of the milestone. Of the $100 million in shares of our common stock to be issued as part of the milestone, $4.1 million was attributable to stock options issued by PacBio in replacement of Omniome’s unvested options as part of the transaction.

The contingent consideration is accounted for as a liability at fair value, with changes during each reporting period recognized in our Consolidated Statements of Operations and Comprehensive Loss. The fair value of the contingent consideration liability is calculated, with the assistance from a third-party valuation firm, using a scenario-based method which considers a range of possible outcomes and their assigned probabilities of occurrence. The potential outcomes are discounted to present value at a discount rate equal to the sum of the term-matched risk-free-interest rate plus PacBio’s credit spread.

The acquisition was accounted for as a business combination and, accordingly, the total fair value of the consideration transferred was allocated to the tangible and intangible assets acquired and liabilities assumed based on their fair values on the acquisition date. The major classes of assets and liabilities to which we have allocated the total fair value of the consideration transferred were as follows (in thousands):


Cash and cash equivalents	$	15,338
Property and equipment, net		6,123
Operating lease right-of-use assets, net		18,095
In-process research and development ("IPR&D")		400,000
Goodwill		390,665
Other assets		3,203
Deferred income tax liability		(91,814)
Liabilities assumed		(26,821)
Total consideration transferred	$	714,789

We expect to finalize the purchase price allocation within 12 months of the acquisition date. We will recognize adjustments to the preliminary amounts with a corresponding adjustment to goodwill in the reporting period in which the adjustments to the preliminary amounts are determined, which we expect to be primarily due to the review of certain tax attributes.

Circulomics, Inc.

On July 20, 2021, we acquired Circulomics Inc. (“Circulomics”), a Maryland-based biotechnology company focused on delivering highly differentiated sample preparation products that enable genomic workflows.

We paid $29.5 million in cash in exchange for all outstanding shares of common stock of Circulomics. We allocated the consideration transferred to the identifiable assets acquired and liabilities assumed based on their respective fair values at the date of the completion of the acquisition. The major classes of assets and liabilities to which we have allocated the total fair value of the consideration transferred were as follows (in thousands):


Cash and cash equivalents	$	987
Property and equipment, net		214
Intangible assets		11,360
Goodwill		19,309
Other assets		467
Deferred income tax liability		(2,672)
Liabilities assumed		(118)
Total consideration transferred	$	29,547

We expect to finalize the purchase price allocation within 12 months of the acquisition date. We will record adjustments to the fair value of the assets acquired, liabilities assumed and goodwill within the twelve-month measurement period, if necessary, which we expect to be primarily due to the review of certain tax attributes.

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2020	$ 192	$ 1,372,083	$ 85	$ (1,036,869)	$ 335,491
Balance, shares at Dec. 31, 2020	192,294
Net loss				(87,435)	(87,435)
Other comprehensive income loss			(11)		(11)
Issuance of common stock in conjunction with equity plans	$ 6	22,337			22,343
Issuance of common stock in conjunction with equity plans, shares	6,046
Stock-based compensation expense		10,165			10,165
Balance at Mar. 31, 2021	$ 198	1,404,585	74	(1,124,304)	280,553
Balance, shares at Mar. 31, 2021	198,340
Balance at Dec. 31, 2021	$ 221	2,009,945	(1,087)	(1,218,092)	$ 790,987
Balance, shares at Dec. 31, 2021	220,978				220,978
Net loss				(81,499)	$ (81,499)
Other comprehensive income loss			(2,998)		(2,998)
Issuance of common stock in conjunction with equity plans	$ 3	5,589			5,592
Issuance of common stock in conjunction with equity plans, shares	3,351
Stock-based compensation expense		22,496			22,496
Balance at Mar. 31, 2022	$ 224	$ 2,038,030	$ (4,085)	$ (1,299,591)	$ 734,578
Balance, shares at Mar. 31, 2022	224,329				224,329

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Balance Sheet Components (Narrative) (Details)	1 Months Ended	3 Months Ended		12 Months Ended
Balance Sheet Components (Narrative) (Details)	Sep. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)	Oct. 31, 2015 USD ($)
Balance Sheet Components [Line Items]
Percentage of fee to prepay debt		4
Short-term restricted cash		$ 500,000		$ 500,000
Depreciation		2,268,000	$ 1,606,000
Long-term restricted cash		4,982,000		4,592,000
May 1 annual decrease to long-term restricted cash		500,000
Goodwill impairment		0
Deferred revenue, current		12,729,000		10,977,000
Deferred revenue, non-current		$ 25,246,000		25,049,000
Revenue recognized				4,000,000.0
Deferred service revenue, noncurrent, recognition period		5 years
Prepaid expenses and other current assets		$ 8,436,000		$ 7,394,000
Omniome, Inc [Member]
Balance Sheet Components [Line Items]
Short term debt acquired	$ 1,300,000
Long-term debt acquired	$ 3,000,000.0
Debt Instrument, Term	43 months
Debt Instrument Interest Rate Stated Percentage	17.00%
Omniome, Inc [Member] \| In Process Research and Development [Member]
Balance Sheet Components [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 400,000,000
Security Deposit [Member]
Balance Sheet Components [Line Items]
Short-term restricted cash		500,000
O’Brien Lease Agreement [Member]
Balance Sheet Components [Line Items]
Long-term restricted cash		3,000,000.0			$ 4,500,000
Additional long-term restricted cash		400,000
Service [Member]
Balance Sheet Components [Line Items]
Deferred revenue		38,000,000.0
Deferred revenue, current		12,700,000
Deferred revenue, non-current		25,200,000
Prepaid expenses and other current assets		600,000
Service contract [Member]
Balance Sheet Components [Line Items]
Deferred revenue, non-current		1,700,000
Invitae Corporation [Member]
Balance Sheet Components [Line Items]
Deferred revenue, non-current		$ 23,500,000

Summary of Significant Accounting Policies (Summary of Revenue by Category) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Product Information [Line Items]
Total revenue	$ 33,173	$ 28,997
Product [Member]
Product Information [Line Items]
Total revenue	28,244	25,303
Instrument [Member]
Product Information [Line Items]
Total revenue	15,550	14,939
Consumable [Member]
Product Information [Line Items]
Total revenue	12,694	10,364
Service and Other [Member]
Product Information [Line Items]
Total revenue	$ 4,929	$ 3,694

- Definition

+ References

+ Details

Invitae Collaboration (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Development and Commercialization of Significant Agreements Transactions [Line Items]
Deferred revenue, non-current	$ 25,246	$ 25,049
Invitae Corporation [Member]
Development and Commercialization of Significant Agreements Transactions [Line Items]
Deferred revenue, non-current	$ 23,500