0001380106-22-000048 | 10-Q | XBRL Viewer | Rapid Micro Biosystems INC

Print Document View Excel Document

Summary of significant accounting policies - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,739	$ 6,899	$ 12,759	$ 18,024
United States
Disaggregation of Revenue [Line Items]
Total revenue	2,091	4,313	6,452	10,086
Germany
Disaggregation of Revenue [Line Items]
Total revenue	1,413	298	2,238	1,263
Switzerland
Disaggregation of Revenue [Line Items]
Total revenue	608	899	2,096	2,989
All other countries
Disaggregation of Revenue [Line Items]
Total revenue	627	1,389	1,973	3,686
Product and service revenue — recurring
Disaggregation of Revenue [Line Items]
Total revenue	2,908	2,171	8,066	5,539
Product and service revenue — non-recurring
Disaggregation of Revenue [Line Items]
Total revenue	1,831	4,132	4,693	11,243
Non-commercial revenue — non-recurring
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 596	$ 0	$ 1,242

- 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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&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)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Short-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 89,787	$ 15,125
Gross unrealized gains	0	0
Gross unrealized losses	(725)	(15)
Fair value	89,062	15,110
U.S. Government Treasury Bills
Debt Securities, Available-for-sale [Line Items]
Amortized cost	37,234	4,983
Gross unrealized gains	0	0
Gross unrealized losses	(126)	(2)
Fair value	37,108	4,981
U.S. Government Treasury Notes
Debt Securities, Available-for-sale [Line Items]
Amortized cost	52,553	10,142
Gross unrealized gains	0	0
Gross unrealized losses	(599)	(13)
Fair value	51,954	10,129
Long-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	35,881	9,966
Gross unrealized gains	0	0
Gross unrealized losses	(667)	0
Fair value	35,214	9,966
U.S. Government Treasury Notes - Maturity Up To Two Years
Debt Securities, Available-for-sale [Line Items]
Amortized cost	34,209	9,966
Gross unrealized gains	0	0
Gross unrealized losses	(635)	0
Fair value	33,574	$ 9,966
Certificates of Deposit
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,672
Gross unrealized gains	0
Gross unrealized losses	(32)
Fair value	$ 1,640

Property and equipment, net - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 600,000	$ 400,000	$ 1,700,000	$ 1,100,000
Fully depreciated assets disposed of	$ 0	$ 0	$ 2,300,000
Maximum
Property, Plant and Equipment [Line Items]
Fully depreciated assets disposed of				$ 100,000

Leases - Schedule of Finance Lease Liability Maturities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022 (excluding the nine months ended September 30)	$ 19
2023	75
2024	75
2025	75
2026	75
Thereafter	187
Total lease payments	506
Less imputed interest	(157)
Total present value of lease liabilities	$ 349

Summary of significant accounting policies - Schedule of Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 936	$ 612	$ 598	$ 637
Warranty provisions	295	0	646	0
Warranty repairs	(320)	0	(333)	(25)
Balance at end of period	$ 911	$ 612	$ 911	$ 612

Leases - Schedule of Impacts of Topic 842 (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	May 31, 2022	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Right-of-use assets, net, operating	$ 6,969		$ 700	$ 1,200
Right-of-use assets, net, financing	329
Property and equipment, net	13,230					$ 11,304
Total assets	201,916					241,169
Current liabilities:
Lease liabilities, short-term, operating	711
Lease liabilities, short-term, financing	36
Accrued expenses	7,391					10,917
Total current liabilities	15,212					18,166
Lease liabilities, long-term, operating	7,154
Lease liabilities, long-term, financing	313
Deferred rent, long term						813
Other long-term liabilities	221					1,210
Total liabilities	22,900					20,189
Total stockholders' equity	179,016	$ 194,967		$ 207,070		220,980	$ 234,745	$ (164,526)	$ (151,047)	$ (127,006)
Total liabilities and stockholders' equity	$ 201,916					241,169
Accounting Standards Update 2016-02
Assets
Right-of-use assets, net, operating					$ 6,000
Right-of-use assets, net, financing					400
Property and equipment, net						11,304
Total						11,304
Total assets						241,169
Current liabilities:
Accrued expenses						10,917
Total						10,917
Total current liabilities						18,166
Deferred rent, long term						813
Other long-term liabilities						1,210
Total						2,023
Total liabilities						20,189
Total stockholders' equity						220,980
Total liabilities and stockholders' equity						$ 241,169
Accounting Standards Update 2016-02 \| Adjustments ASC 842 Adoption
Assets
Right-of-use assets, net, operating					6,039
Right-of-use assets, net, financing					366
Property and equipment, net					(351)
Total					6,054
Total assets					6,054
Current liabilities:
Lease liabilities, short-term, operating					1,023
Lease liabilities, short-term, financing					33
Accrued expenses					(160)
Total					896
Total current liabilities					896
Lease liabilities, long-term, operating					5,960
Lease liabilities, long-term, financing					341
Deferred rent, long term					(813)
Other long-term liabilities					(330)
Total					5,158
Total liabilities					6,054
Total liabilities and stockholders' equity					6,054
Accounting Standards Update 2016-02 \| Adjusted Balance
Assets
Right-of-use assets, net, operating					6,039
Right-of-use assets, net, financing					366
Property and equipment, net					10,953
Total					17,358
Total assets					247,223
Current liabilities:
Lease liabilities, short-term, operating					1,023
Lease liabilities, short-term, financing					33
Accrued expenses					10,757
Total					11,813
Total current liabilities					19,062
Lease liabilities, long-term, operating					5,960
Lease liabilities, long-term, financing					341
Other long-term liabilities					880
Total					7,181
Total liabilities					26,243
Total stockholders' equity					220,980
Total liabilities and stockholders' equity					$ 247,223

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid insurance	$ 2,112	$ 1,622
Contract asset	56	396
Deposits	1,207	1,262
Lease receivables, current portion	0	231
Other	726	440
Prepaid expenses and other current assets	$ 4,101	$ 3,951

Fair value of financial assets and liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured on a Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):


	Fair value measurements as of September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	20,652	$	—	$	—	$	20,652
Short-term investments	89,062		—		—		89,062
Long-term investments	35,214		—		—		35,214
	$	144,928	$	—	$	—	$	144,928


	Fair value measurements at December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	173,755	$	—	$	—	$	173,755
Short-term investments	15,110		—		—		15,110
Long-term investments	9,966		—		—		9,966
	$	198,831	$	—	$	—	$	198,831

Summary of significant accounting policies - Schedule of Concentration Risk (Details) - Customer Concentration Risk	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue Benchmark \| Major Customers
Concentration Risk [Line Items]
Customer concentration risk	42.60%		43.50%	22.20%	16.40%
Revenue Benchmark \| Customer A
Concentration Risk [Line Items]
Customer concentration risk	23.10%		32.10%	22.20%	16.40%
Revenue Benchmark \| Customer B
Concentration Risk [Line Items]
Customer concentration risk	19.50%
Revenue Benchmark \| Customer D
Concentration Risk [Line Items]
Customer concentration risk			11.40%
Accounts Receivable \| Major Customers
Concentration Risk [Line Items]
Customer concentration risk		52.70%		66.10%
Accounts Receivable \| Customer A
Concentration Risk [Line Items]
Customer concentration risk		19.50%		29.80%
Accounts Receivable \| Customer B
Concentration Risk [Line Items]
Customer concentration risk				25.50%
Accounts Receivable \| Customer C
Concentration Risk [Line Items]
Customer concentration risk				10.80%
Accounts Receivable \| Customer D
Concentration Risk [Line Items]
Customer concentration risk						12.60%
Accounts Receivable \| Customer E
Concentration Risk [Line Items]
Customer concentration risk		10.60%
Accounts Receivable \| Customer F
Concentration Risk [Line Items]
Customer concentration risk		10.00%

Condensed consolidated balance sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Class A Common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	210,000,000	210,000,000
Common stock, issued (in shares)	36,440,906	34,564,040
Common stock, outstanding (in shares)	36,440,906	34,564,040
Class B Common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	5,553,379	6,903,379
Common stock, outstanding (in shares)	5,553,379	6,903,379

Stock-based compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-based compensation

2010 Stock Option and Grant Plan

The Company’s 2010 Stock Option and Grant Plan (the “2010 Plan”) provided for the Company to grant incentive stock options or nonqualified stock options, restricted stock awards and other stock-based awards to employees, officers, directors and consultants of the Company.

In March 2021, the Board of Directors approved an increase to the 2010 Plan shares of 382,889 shares. Following the effectiveness of the IPO, no additional awards are being granted under the 2010 Plan and shares of existing outstanding options that were issued under the 2010 Plan and are forfeited or canceled will be available for grant under the 2021 Incentive Award Plan.

2021 Incentive Award Plan

In July 2021, the Board of Directors adopted, and the Company’s stockholders approved, the 2021 Incentive Award Plan (the “2021 Plan”), which became effective in connection with the IPO. The 2021 Plan provides for the grant of stock options, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, and other stock-based and cash-based awards. The 2021 Plan has a term of ten years. The aggregate number of shares of Class A common stock available for issuance under the 2021 Plan is equal to (i) 4,200,000 shares; (ii) any shares which are subject to the 2010 Plan awards that become available for issuance under the 2021 Plan; and (iii) an annual increase for ten years on the first day of each calendar year beginning on January 1, 2022, equal to the lesser of (A) 5% of the aggregate number of shares of Class A common stock outstanding on the last day of the immediately preceding calendar year and (B) such smaller amount of shares as determined by the Board of Directors. No more than 33,900,000 shares of Class A common stock may be issued under the 2021 Plan upon the exercise of incentive stock options. As of September 30, 2022, there are 5,928,202 shares available for issuance under the 2021 Plan.

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Risk-free interest rate	3.2	%	1.0	%	2.1	%	0.9	%
Expected term (in years)	6.1		5.8		6.0		6.0
Expected volatility	44.4	%	43.7	%	43.2	%	51.5	%
Expected dividend yield	0	%	0	%	0	%	0	%

Stock options

The following table summarizes the Company’s stock option activity since December 31, 2021:


	Number of shares	Weighted average exercise price		Weighted average remaining contractual term	Aggregate intrinsic value
				(in years)	(in thousands)
Outstanding as of December 31, 2021	4,823,100	$	5.06	7.62	$	31,041
Granted	1,641,392	7.30
Exercised	(475,033)	0.99
Expired	(21,625)	13.91
Forfeited	(725,386)	12.01
Outstanding as of September 30, 2022	5,242,448	$	5.11	7.64	$	6,011
Options vested and expected to vest as of September 30, 2022	5,242,448	$	5.11	7.64	$	6,011
Options exercisable as of September 30, 2022	2,657,164	$	3.03	6.37	$	4,724

The aggregate intrinsic value of options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s Class A common stock for those options that had exercise prices lower than such fair value.

The intrinsic value of stock options exercised during the nine months ended September 30, 2022 and 2021 was $2.8 million and $0.4 million, respectively.

The weighted average grant-date fair value per share of stock options granted during the three months ended September 30, 2022 and 2021 was $1.72 and $8.33, respectively, and during the nine months ended September 30, 2022 and 2021 was $3.20 and $4.05, respectively.

Restricted stock

In February 2021, the Company granted 248,903 shares of restricted stock to an employee under the 2010 Plan with a four-year vesting term. In connection with the grant, the employee paid $0.5 million, which represents the $2.10 per share fair value of the common stock on the date of the restricted stock grant. At September 30, 2022 and December 31, 2021, the Company had $0.3 million and $0.5 million, respectively, in unvested restricted common stock liability included in other current liabilities and other long-term liabilities, respectively. The restricted common stock is no longer vesting due to the employee's termination during the period, and the Company expects to settle the restricted common stock in accordance with contractual provisions.

The following table summarizes the Company’s restricted stock activity since December 31, 2021:


	Number of shares	Weighted average fair value

Unvested as of December 31, 2021	248,903	$	2.10
Granted	—
Vested	(93,338)	$	2.10
Forfeited	—
Unvested as of September 30, 2022	155,565	$	2.10

Restricted stock units

Restricted stock unit grants to employees have a three-year vesting term in which vesting occurs annually on the anniversary of the grant date. The Company expenses the fair value of the restricted stock units over the vesting period and accounts for forfeitures prospectively as they occur. The following table summarizes restricted stock units granted to Company employees during the nine months ended September 30, 2022:


	Number of shares	Weighted average fair value

Unvested as of December 31, 2021	—
Granted	634,797	$	7.36
Vested	—
Forfeited	(113,250)	$	7.71
Unvested as of September 30, 2022	521,547	$	7.29

The weighted average grant-date fair value per share of restricted stock units granted during the three and nine months ended September 30, 2022 was $3.64 and $7.36, respectively. There were no restricted stock units granted during the nine months ended September 30, 2021.

2021 Employee Stock Purchase Plan

In July 2021, the Board of Directors adopted, and the Company’s stockholders approved, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which became effective in connection with the IPO of Class A common stock. The aggregate number of shares of Class A common stock available for issuance under the 2021 ESPP is equal to (i) 400,000 shares and (ii) an annual increase for ten years on the first day of each calendar year beginning on January 1, 2022, equal to the lesser of (A) 1% of the aggregate number of shares of Class A common stock outstanding on the last day of the immediately preceding calendar year and (B) such smaller amount of shares as determined by the Board of Directors. No more than 6,300,000 shares of Class A common stock may be issued under the 2021 ESPP.

Under the 2021 ESPP, eligible employees may purchase shares of the Company’s common stock through payroll deductions of up to 15% of eligible compensation during an offering period. Generally, each offering period will be for 6 months as determined by the Company's board of directors. In no event may an employee purchase more than 100,000 shares per offering period based on the closing price on the first trading date of an offering period or the last trading date of an offering period, or more than $25,000 worth of stock during any calendar year. The purchase price for shares to be purchased under the 2021 ESPP is 85% of the lesser of the market price of the Company's common stock on the first trading date of an offering period or on any purchase date during an offering period (March 14 or September 14).

During the nine months ended September 30, 2022, there were 51,833 shares of Class A common stock purchased under the 2021 ESPP. The Company recognized less than $0.1 million of expense related to the 2021 ESPP for each of the three and nine months ended September 30, 2022. As of September 30, 2022, 693,807 shares were available for future issuance under the 2021 ESPP.

The Company estimates the fair value of shares issued to employees under the 2021 ESPP using the Black-Scholes option-pricing model. The following weighted average assumptions were used in the calculation of fair value of shares under the 2021 ESPP at the grant date for the three and nine months ended September 30, 2022 (there were no offering periods for the three and nine months ended September 30, 2021):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022		2022
Risk-free interest rate	3.78	%	2.60	%
Expected term (in years)	0.5		0.5
Expected volatility	53.3	%	49.1	%
Expected dividend yield	0	%	0	%

Stock-based compensation

Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Cost of revenue	$	118	$	106	$	387	$	221
Research and development	93		57		266		106
Sales and marketing	93		76		370		158
General and administrative	369		345		1,891		680
Total stock-based compensation expense	$	673	$	584	$	2,914	$	1,165

As of September 30, 2022, total unrecognized compensation expense related to unvested stock options held by employees and directors was $7.9 million, which is expected to be recognized over a weighted average period of 2.6 years. Additionally, unrecognized compensation expense related to unvested restricted stock units held by employees and directors was $3.0 million, which is expected to be recognized over a weighted average period of 2.5 years.

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Impact from Adoption of Topic 842

The impact of the adoption of Topic 842 to the Company's applicable balance sheet items as of January 1, 2022 is presented in the table below (in thousands). The standard did not have a material impact to the Company's unaudited condensed consolidated statements of operations, comprehensive loss, or cash flows.


	As Reported December 31, 2021		Adjustments ASC 842 Adoption		Adjusted January 1, 2022
Assets
Right-of-use assets, net, operating	$	—	$	6,039	$	6,039
Right-of-use assets, net, financing	—		366		366
Property and equipment, net	11,304		(351)		10,953
Total	$	11,304	$	6,054	$	17,358
Total assets	$	241,169	$	6,054	$	247,223

Liabilities and Stockholders' Equity
Current liabilities:
Lease liabilities, short-term, operating	$	—	$	1,023	$	1,023
Lease liabilities, short-term, financing	—		33		33
Accrued expenses	10,917		(160)		10,757
Total	$	10,917	$	896	$	11,813
Total current liabilities	$	18,166	$	896	$	19,062
Lease liabilities, long-term, operating	—		5,960		5,960
Lease liabilities, long-term, financing	—		341		341
Deferred rent, long-term	813		(813)		—
Other long-term liabilities	1,210		(330)		880
Total	$	2,023	$	5,158	$	7,181
Total liabilities	$	20,189	$	6,054	$	26,243
Total stockholders' equity	$	220,980	$	—	$	220,980
Total liabilities and stockholders' equity	$	241,169	$	6,054	$	247,223

Schedule of Supplemental Cash Flow Information and Lease Expense

Supplemental cash flow information related to leases is as follows (in thousands):


	Nine Months Ended September 30, 2022

Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	893
Operating cash outflows - payments on financing leases	$	32
Financing cash outflows - payments on financing leases	$	24
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	7,605
Financing leases	$	366

The components of lease expense were as follows (in thousands):


	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
Operating lease cost	$	297	$	847
Financing lease cost - amortization of right-of-use asset	12		37
Financing lease cost - interest on lease liability	11		32
Short-term lease cost	14		45
Variable lease cost	138		454
Total lease cost	$	472	$	1,415

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands):


	September 30, 2022
Operating Leases:
Operating lease assets	$	6,969

Accrued expenses and other current liabilities	$	711
Operating lease liabilities	7,154
Total operating lease liabilities	$	7,865

Financing Leases:
Office furniture and fixtures	$	386
Accumulated depreciation	(57)
Net property, plant and equipment	$	329

Current portion of long-term debt	$	36
Long-term debt	313
Total financing lease liabilities	$	349

Weighted-average remaining lease term - operating leases (in years):	6.79
Weighted-average remaining lease term - financing leases (in years):	6.75
Weighted-average discount rate - operating leases:	3.7		%
Weighted-average discount rate - financing leases:	12.0		%

Schedule of Operating Lease Liability Maturities

Maturities of the Company’s operating lease liabilities as of September 30, 2022 were as follows (in thousands):


	Operating Lease Maturities
2022 (excluding the nine months ended September 30)	$	313
2023	1,273
2024	1,306
2025	1,339
2026	1,372
Thereafter	3,627
Total lease payments	$	9,230
Less imputed interest	(1,094)
Total present value of lease liabilities	$	8,136

Schedule of Finance Lease Liability Maturities

Maturities of the Company’s financing lease liability as of September 30, 2022 were as follows (in thousands):


	Financing Lease Maturities
2022 (excluding the nine months ended September 30)	$	19
2023	75
2024	75
2025	75
2026	75
Thereafter	187
Total lease payments	$	506
Less imputed interest	(157)
Total present value of lease liabilities	$	349

Schedule of Pre-Adoption Operating Lease Liability Maturities

Maturities of the Company’s operating lease liabilities as of December 31, 2021 were as follows (in thousands):


	Year Ended December 31, 2021
2022	$	1,139
2023	1,169
2024	1,199
2025	1,229
2026	1,044
Thereafter	1,953
Total minimum lease commitments	$	7,733

Property and equipment, net (Tables)

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, net consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Manufacturing and laboratory equipment	$	12,208	$	13,277
Computer hardware and software	1,597		1,742
Office furniture and fixtures	589		745
Leasehold improvements	8,260		3,012
Construction-in-process	1,683		4,313
	24,337		23,089
Less: Accumulated depreciation	(11,107)		(11,785)
	$	13,230	$	11,304

Preferred stock warrants - Schedule of Fair Values of Preferred Stock Warrant Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		$ 15,600		$ 4,117
Change in fair value of preferred stock warrants	$ 0	8,160	$ 0	19,643
Conversion of preferred stock warrants to common stock warrants		(23,760)		(23,760)
Balance at end of period		$ 0		$ 0

Accrued expenses and other current liabilities

9 Months Ended

Sep. 30, 2022

Accrued Liabilities, Current [Abstract]

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Accrued employee compensation and benefits expense	$	4,371	$	3,569
Accrued vendor expenses	1,801		5,500
Accrued warranty expense	911		598
Deferred rent, current portion	—		131
Accrued taxes	230		781
Other	78		338
	$	7,391	$	10,917

On August 11, 2022, the board of directors of the Company approved an organizational restructuring plan (the “Restructuring Plan”) to right-size its cost structure based on its lowered 2022 outlook. The Company will continue to

invest in key growth initiatives including enhancing commercial execution and key product development programs that are expected to drive future revenue growth. The Restructuring Plan involves an approximately 20% reduction in the Company’s workforce, including employees, contractors and temporary employees, which is largely focused on non-commercial functions. The Company recorded a restructuring charge of $1.1 million in the third quarter of 2022 primarily related to severance, employee benefits, outplacement and related costs under the Restructuring Plan. The Company made payments of $0.2 million during the three and nine months ended September 30, 2022 related to the Restructuring Plan and had $0.9 million recorded within accrued expenses as of September 30, 2022.

Condensed consolidated statements of stockholders' equity (Unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($)
Class A Common stock
Issuance costs	$ 16,087

Property and equipment, net

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and equipment, net

Property and equipment, net consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Manufacturing and laboratory equipment	$	12,208	$	13,277
Computer hardware and software	1,597		1,742
Office furniture and fixtures	589		745
Leasehold improvements	8,260		3,012
Construction-in-process	1,683		4,313
	24,337		23,089
Less: Accumulated depreciation	(11,107)		(11,785)
	$	13,230	$	11,304

Depreciation and amortization expense related to property and equipment was $0.6 million and $0.4 million for the three months ended September 30, 2022 and 2021, respectively. Depreciation and amortization expense related to property and equipment was $1.7 million and $1.1 million for the nine months ended September 30, 2022 and 2021, respectively. The Company had zero fully depreciated assets disposed of during the three months ended September 30, 2022 and 2021, and $2.3 million and less than $0.1 million fully depreciated assets disposed of during the nine months ended September 30, 2022 and 2021, respectively.

Summary of significant accounting policies (Policies)	9 Months Ended
Summary of significant accounting policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries in Germany and Switzerland. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements for the year ended December 31, 2021. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of September 30, 2022 and the results of its operations and its cash flows for the three and nine months ended September 30, 2022 and 2021. The financial data and other information disclosed in these notes related to the three and nine months ended September 30, 2022 and 2021 are also unaudited. The results for the three and nine months ended September 30, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period.
Reclassification	ReclassificationCertain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.
Use of estimates	Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, calculating the standalone selling price for revenue recognition, the valuation of inventory, the valuation of common stock and stock-based awards, and the valuation of the preferred stock warrant liability. The Company bases its estimates on historical experience, known trends and other market-specific and relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained. Other than policies noted below, there have been no significant changes to the significant accounting policies during the three and nine months ended September 30, 2022, as compared to the significant accounting policies disclosed in Note 2 of the audited consolidated financial statements as of December 31, 2021 filed with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
Risk of concentrations of credit, significant customers and significant suppliers	Risk of concentrations of credit, significant customers and significant suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains its cash and cash equivalents and investments with financial institutions that management believes to be of high credit quality. The Company has not experienced any other-than-temporary losses with respect to its cash equivalents and investments and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.
Debt issuance costs	Debt issuance costs The Company capitalizes certain legal and other third-party fees that are directly associated with the issuance of debt as debt issuance costs. Debt issuance costs are recorded as a direct reduction of the carrying amount of the associated debt on the condensed consolidated balance sheets and amortized as interest expense on the condensed consolidated statements of operations using the effective interest method, which approximates the straight-line method. As of September 30, 2022 and December 31, 2021, the Company had no debt issuance costs on its condensed consolidated balance sheets. During the three months ended September 30, 2022 and 2021, the Company recorded zero and $0.1 million, respectively, and during the nine months ended September 30, 2022 and 2021, the Company recorded zero and $0.4 million, respectively, of interest expense related to amortization of debt issuance costs in the condensed consolidated statements of operations.
Cash equivalents	Cash equivalents The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents that are readily convertible to cash are stated at cost, which approximates fair value. At September 30, 2022 and December 31, 2021, the Company held cash of $0.2 million and $0.3 million, respectively, in banks located outside of the United States.
Restricted cash	Restricted cash As of September 30, 2022 and December 31, 2021, the Company was required to maintain guaranteed investment certificates of $0.3 million with maturities of three months to one year that are subject to an insignificant risk of changes in value. The guaranteed investment certificates are held for the benefit of the landlord in connection with operating leases which have remaining terms of greater than one year and are classified as restricted cash (non-current) on the Company’s consolidated balance sheets.
Software Development Costs	Software Development Costs The Company accounts for software development costs for internal-use software under the provisions of ASC 350-40, “Internal-Use Software” (“ASC 350”). Accordingly, certain costs to develop internal-use computer software are capitalized, provided these costs are expected to be recoverable. The Company had $1.1 million of software development costs, net of amortization, capitalized in other long-term assets at September 30, 2022. These capitalized costs are being amortized on a straight-line basis over the initial subscription term of five years. For the three months ended September 30, 2022 and 2021, there was $0.1 million and zero, respectively, and for the nine months ended September 30, 2022 and 2021, there was $0.3 million and zero, respectively, of amortization expense related to capitalized software development costs recorded in the condensed consolidated statements of operations.
Fair value measurements	Fair value measurements Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: •Level 1—Quoted prices in active markets for identical assets or liabilities. •Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. •Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company’s cash equivalents, short-term and long-term investments are carried at fair value, determined according to the fair value hierarchy described above (see Note 3). The carrying values of the Company’s accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities approximate their fair values due to the short-term nature of these assets and liabilities.
Product warranties	Product warrantiesThe Company offers a one-year limited assurance warranty on System sales, which is included in the selling price. The accrual for these warranty obligations is included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.
Segment information	Segment information The Company determined its operating segment after considering the Company’s organizational structure and the information regularly reviewed and evaluated by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company has determined that its CODM is its Chief Executive Officer. The CODM reviews the financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. On the basis of these factors, the Company determined that it operates and manages its business as one operating segment, that develops, manufactures, markets and sells Systems and related LIMS connection software, consumables and services; and accordingly has one reportable segment for financial reporting purposes. Substantially all of the Company’s long-lived assets are held in the United States.
Revenue recognition	Revenue recognition Remaining performance obligations The Company does not disclose the value of remaining performance obligations for (i) contracts with an original contract term of one year or less, (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice when that amount corresponds directly with the value of services performed, and (iii) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied distinct service that forms part of a single performance obligation. The Company does not have material remaining performance obligations associated with contracts with terms greater than one year. Contract balances from contracts with customers Contract assets arise from unbilled amounts in customer arrangements when revenue recognized exceeds the amount billed to the customer and the Company’s right to payment is conditional and not only subject to the passage of time. The Company had $0.1 million and $0.3 million in contract assets as of September 30, 2022 and December 31, 2021, respectively, included in prepaid expenses and other current assets. These balances relate to unbilled amounts with commercial customers, as well as amounts due under the BARDA (as defined below) agreements. Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which it has received consideration (or the amount is due) from the customer. The Company has a contract liability related to service revenue, which consists of amounts that have been invoiced but that have not been recognized as revenue. Amounts expected to be recognized as revenue within 12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as noncurrent deferred revenue. The Company did not record any non-current deferred revenue as of September 30, 2022 or December 31, 2021. Deferred revenue was $3.4 million and $3.3 million at September 30, 2022 and December 31, 2021, respectively. Revenue recognized during the three months ended September 30, 2022 and 2021 that was included in deferred revenue at the prior period-end was $0.5 million and $0.7 million, respectively. Revenue recognized during the nine months ended September 30, 2022 and 2021 that was included in deferred revenue at the prior period-end was $2.3 million and $3.6 million, respectively. Non-commercial revenue The Company has historically generated revenue from a long-term contract with the U.S. Department of Health and Human Services Biomedical Advanced Research and Development Authority (“BARDA”) a part of the U.S. government. The Company’s contracts with the U.S. government are typically subject to the Federal Acquisition Regulation (“FAR”) and are priced based on estimated or actual costs of producing goods or providing services. The FAR provides guidance on the types of costs that are allowable in establishing prices for goods or services provided under U.S. government contracts. In September 2017, the Company signed a contract with BARDA, which was subsequently modified on multiple occasions to increase the contract value and adjust the cost share reimbursement rate. Modifications were accounted for in accordance with the contract modification framework. The contract is a cost-reimbursable, cost-sharing arrangement, whereby BARDA reimburses the Company for a percentage of the total costs that have been incurred including indirect allowable costs. All funding under this contract was fully earned by the fourth quarter of 2021. Disaggregated revenue The Company disaggregates revenue based on the recurring and non-recurring, and commercial and non-commercial, nature of the underlying sale. Recurring revenue includes sales of consumables and service contracts. Non-recurring revenue includes sales of Systems, LIMS connection software, validation services, field service, and revenue under the Company’s contract with BARDA.
Advertising costs	Advertising costs Advertising costs are expensed as incurred and are included in sales and marketing expenses in the condensed consolidated statements of operations. Advertising costs were less than $0.1 million during the three and nine months ended September 30, 2022 and 2021.
Stock-based compensation	Stock-based compensation The Company measures all stock-based awards granted to employees, officers and directors based on their fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company issues stock-based awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. Forfeitures are accounted for prospectively as they occur. The Company measures all restricted common stock and restricted stock units granted to employees based on the common stock value on the date of grant. The purchase price of the restricted common stock is the common stock value on the date of grant. The restricted common stock includes a repurchase right, whereas upon the occurrence of a specific event, the Company shall have the right to repurchase unvested restricted common stock shares. At September 30, 2022 and December 31, 2021, the Company had $0.3 million and $0.5 million, respectively, in unvested restricted Class A common stock liability included in other current liabilities and other long-term liabilities, respectively.
Comprehensive loss	Comprehensive loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. For the three months ended September 30, 2022 and 2021, there were $0.5 million and zero, respectively, and for the nine months ended September 30, 2022 and 2021, there were $1.4 million and less than $0.1 million, respectively, of unrealized losses on short-term and long-term investments, net of tax, included in comprehensive loss.
Recently adopted and issued accounting pronouncements	Recently adopted accounting pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases, with the exception of short-term leases if a policy election is made, on their balance sheets as a right-of-use ("ROU") asset representing the right to use an underlying asset and a lease liability representing the obligation to make lease payments over the lease term, measured on a discounted basis, while recognizing lease expense on their income statements in a manner similar to current GAAP. The guidance also requires entities to disclose key quantitative and qualitative information about its leasing arrangements. The Company leases office and manufacturing space under operating lease agreements. The Company leases furniture under a financing agreement. The Company adopted Topic 842 on January 1, 2022 using the optional transition method to the modified retrospective approach. Under this transition provision, results for reporting periods beginning on January 1, 2022 are presented under Topic 842 while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under ASC Topic 840, Leases (“ASC 840”). The Company elected the “package of practical expedients” permitted under the transition guidance, which among other things, does not require reassessment of whether contracts entered into prior to adoption are or contain leases, and allows carryforward of the historical lease classification for existing leases. The Company did not elect the “hindsight” practical expedient, and therefore measured the ROU assets and lease liabilities using the remaining portion of the lease term at adoption on January 1, 2022. The Company made an accounting policy election not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. For all other leases, the Company recognizes ROU assets and lease liabilities based on the present value of lease payments over the lease term at the commencement date of the lease (or January 1, 2022 for existing leases upon the adoption of ASC 842). Lease payments may include fixed rent escalation clauses or payments that depend on an index (such as the consumer price index). Subsequent changes to an index and any other periodic market-rate adjustments to base rent are recorded in variable lease expense in the period incurred. The ROU assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by any lease incentives. The Company has made an accounting policy election to account for lease and non-lease components in its contracts as single lease components for all asset classes. The non-lease components typically represent additional services transferred to the Company, such as common area maintenance for real estate, which are variable in nature and recorded in variable lease expense in the period incurred. The Company uses its incremental borrowing rate which is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term and amount in a similar economic environment to determine the present value of lease payments as the Company’s leases do not have a readily determinable implicit discount rate. Judgment is applied in assessing factors such as Company specific credit risk, lease term, nature, and quality of the underlying collateral, currency, and economic environment in determining the incremental borrowing rate to apply to each lease. Upon adoption, the Company recorded operating lease ROU assets and lease liabilities of $6.0 million and $7.0 million, respectively, the difference relating to deferred rent. The Company recorded financing lease ROU assets and lease liabilities of approximately $0.4 million. The adoption of the new lease standard on January 1, 2022 did not materially impact our condensed consolidated statements of operations, comprehensive loss or cash flows. In December 2019, the FASB issued ASU 2019-12, Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various areas related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted this guidance effective January 1, 2022, and the adoption had no material impact on its condensed consolidated financial statements and related disclosures. Recently issued accounting pronouncements The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected not to “opt out” of the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the newer revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016- 13”). The new standard adjusts the accounting for assets held at amortized costs basis, including marketable securities accounted for as available for sale, and trade receivables. The standard eliminates the probable initial recognition threshold and requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. The Company expects to adopt this guidance effective January 1, 2023, and it is currently evaluating the impact on its condensed consolidated financial statements and related disclosures.

Inventory (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Summary of Inventory

Inventory consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Raw materials	$	13,118	$	10,135
Work in process	645		1,235
Finished goods	7,161		4,301
Total	$	20,924	$	15,671

Property and equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 24,337	$ 23,089
Less: Accumulated depreciation	(11,107)	(11,785)
Property plant and equipment, net	13,230	11,304
Manufacturing and laboratory equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	12,208	13,277
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,597	1,742
Office furniture and fixtures
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	589	745
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	8,260	3,012
Construction-in-process
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 1,683	$ 4,313

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 297	$ 847
Financing lease cost - amortization of right-of-use asset	12	37
Financing lease cost - interest on lease liability	11	32
Short-term lease cost	14	45
Variable lease cost	138	454
Total lease cost	$ 472	$ 1,415

Leases - Schedule of Supplemental Cash Flow Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Operating cash outflows - payments on operating leases	$ 893
Operating cash outflows - payments on financing leases	32
Financing cash outflows - payments on financing leases	24
Operating leases	7,605
Financing leases	$ 366

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax benefit	$ 7	$ 20	$ (583)	$ 57

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Accrued expenses and other current liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Aug. 11, 2022
Payables and Accruals [Abstract]
Workforce reduction percentage			20.00%
Restructuring costs	$ 1.1
Payments for restructuring	0.2	$ 0.2
Restructuring related accrued expenses	$ 0.9	$ 0.9

Long-term debt (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
Long-term debt (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	May 31, 2020
Debt Instrument [Line Items]
Long-term debt outstanding		$ 0		$ 0		$ 0
Debt issuance costs		0		0		$ 0
Debt extinguishment loss		$ 0	$ 3,100,000	$ 0	$ 3,100,000
2020 Term Loan
Debt Instrument [Line Items]
Loan face amount							$ 60,000,000
Facility fee							800,000
Debt issuance costs							1,500,000
Professional fees							900,000
Fair value of warrants issued with debt							$ 600,000
Interest expense			700,000		2,500,000
amortization of debt discount			$ 100,000		$ 300,000
Debt extinguishment loss	$ 3,100,000
Prepayment penalty	1,800,000
Expense related to unamortized discounts	1,100,000
Unamortized prepaid facility fees and other charges	$ 200,000
2020 Term Loan \| Series C1 Preferred Stock
Debt Instrument [Line Items]
Warrants issued (in shares)							1,195,652
Exercise price of warrants (in dollars per share)							$ 1.15
2020 Term Loan \| Debt Instrument, Tranche One
Debt Instrument [Line Items]
Loan face amount							$ 25,000,000
Facility fee							300,000
2020 Term Loan \| Debt Instrument, Tranche Two
Debt Instrument [Line Items]
Loan face amount							35,000,000
Term B Loan \| Debt Instrument, Tranche Two
Debt Instrument [Line Items]
Loan face amount							20,000,000
Facility fee							300,000
Term C Loan \| Debt Instrument, Tranche Two
Debt Instrument [Line Items]
Loan face amount							15,000,000
Facility fee							$ 200,000

Stock-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended		5 Months Ended	9 Months Ended
	Jul. 31, 2021	Mar. 31, 2021	Feb. 28, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation
Intrinsic value of stock options exercised							$ 2,800	$ 400
Weighted average grant-date fair value of stock options granted (in dollars per share)				$ 1.72	$ 8.33		$ 3.20	$ 4.05
Employee payments for shares granted							$ 159	$ 0
Stock-based compensation expense				$ 673	$ 584		2,914	$ 1,165
Shares available for future issuance (in shares)					20,216,677			20,216,677
Unrecognized compensation expense				7,900			$ 7,900
Restricted Stock
Share-based compensation
Units granted (in shares)			248,903				0
Vesting Period			4 years
Employee payments for shares granted			$ 500
Weighted average grant-date fair value per share of units granted (in dollars per share)			$ 2.10
Unvested stock liability				$ 300		$ 500	$ 300
Restricted Stock Units (RSUs)
Share-based compensation
Units granted (in shares)							634,797	0
Weighted average grant-date fair value per share of units granted (in dollars per share)				$ 3.64			$ 7.36
Unvested stock liability				$ 300		$ 500	$ 300
Weighted average recognition period							2 years 6 months
Unrecognized compensation expense related to units				$ 3,000			$ 3,000
Share-Based Payment Arrangement, Option
Share-based compensation
Weighted average recognition period							2 years 7 months 6 days
2010 Plan
Share-based compensation
Additional shares authorized (in shares)		382,889				0
2021 Plan
Share-based compensation
Plan term	10 years						10 years
Shares available for issuance under plan (in shares)				5,928,202			5,928,202
2021 Plan \| Class A Common stock
Share-based compensation
Shares available for issuance under plan (in shares)	4,200,000
Percentage of aggregate number of shares outstanding	5.00%
Maximum number of shares issuable upon exercise of stock option (in shares)	33,900,000
2021 ESPP
Share-based compensation
Plan term	10 years
2021 ESPP \| Maximum
Share-based compensation
Stock-based compensation expense				$ 100			$ 100
2021 ESPP \| Employee Stock
Share-based compensation
Maximum percentage of payroll deduction	15.00%
Offering period	6 months
Maximum shares available for purchase per employee (in shares)	100,000
Maximum value of shares available for purchase per employee	$ 25
Discount percentage from market price	85.00%
2021 ESPP \| Class A Common stock
Share-based compensation
Shares available for issuance under plan (in shares)	400,000
Percentage of aggregate number of shares outstanding	1.00%
Maximum number of shares issuable upon exercise of stock option (in shares)	6,300,000
Shares purchased under plan (in shares)							51,833
Shares available for future issuance (in shares)				693,807			693,807

Common stock and common stock warrants (Tables)

9 Months Ended

Sep. 30, 2022

Common stock and common stock warrants

Schedule of Outstanding Common Stock Warrants

As of September 30, 2022, outstanding warrants to purchase common stock consisted of the following:


	September 30, 2022
Issuance date	Contractual term	Balance sheet classification	Shares of common stock issuable upon exercise of warrant	Weighted average exercise price
	(in years)
July 24, 2017	10	Equity	17,194	$	292.81
April 12, 2018	10	Equity	30,000	$	1.00
July 14, 2021	10	Equity	975,109	$	1.46
			1,022,303

As of December 31, 2021, outstanding warrants to purchase common stock outstanding consisted of the following:


	December 31, 2021
Issuance date	Contractual term	Balance sheet classification	Shares of common stock issuable upon exercise of warrant	Weighted average exercise price
	(in years)
July 24, 2017	10	Equity	25,835	$	295.15
April 12, 2018	10	Equity	30,000	$	1.00
July 14, 2021	10	Equity	975,109	$	1.46
			1,030,944

Stock-based compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Number of shares
Outstanding at beginning of period (in shares)	4,823,100
Granted (in shares)	1,641,392
Exercised (in shares)	(475,033)
Expired (in shares)	(21,625)
Forfeited (in shares)	(725,386)
Outstanding at end of period (in shares)	5,242,448	4,823,100
Options vested and expected to vest (in shares)	5,242,448
Options exercisable (in shares)	2,657,164
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)	$ 5.06
Granted (in dollars per share)	7.30
Exercised (in dollars per share)	0.99
Expired (in dollars per share)	13.91
Forfeited (in dollars per share)	12.01
Outstanding at end of period (in dollars per share)	5.11	$ 5.06
Options vested and expected to vest (in dollars per share)	5.11
Options exercisable (in dollars per share)	$ 3.03
Weighted average remaining contractual term
Weighted average remaining contractual term of options outstanding	7 years 7 months 20 days	7 years 7 months 13 days
Weighted average remaining contractual term of options vested and expected to vest	7 years 7 months 20 days
Weighted average remaining contractual term of options exercisable	6 years 4 months 13 days
Aggregate intrinsic value
Aggregate intrinsic value of options outstanding	$ 6,011	$ 31,041
Aggregate intrinsic value of options vested and expected to vest	6,011
Aggregate intrinsic value of options exercisable	$ 4,724

Fair value of financial assets and liabilities (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 20,652	$ 173,755
Assets	144,928	198,831
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	89,062	15,110
Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	35,214	9,966
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	20,652	173,755
Assets	144,928	198,831
Level 1 \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	89,062	15,110
Level 1 \| Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	35,214	9,966
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Assets	0	0
Level 2 \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 2 \| Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Assets	0	0
Level 3 \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 \| Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Summary of significant accounting policies - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	May 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Line Items]
Debt issuance costs	$ 0		$ 0					$ 0
Amortization of the debt issuance costs	0	$ 100,000	0	$ 400,000
Cash held in banks outside of the US	200,000		200,000					300,000
Guaranteed investment certificates	284,000		284,000					284,000
Software development costs, net of amortization	1,100,000		1,100,000
Software development amortization expense	100,000	0	$ 300,000	0
Product warranty term			1 year
Number of operating segments \| segment			1
Number of reportable segments \| segment			1
Contract assets	100,000		$ 100,000					300,000
Non-current deferred revenue	0		0					0
Current deferred revenue	3,404,000		3,404,000					3,305,000
Revenue recognized which was included in deferred revenue in prior period	500,000	700,000	2,300,000	3,600,000
Unrealized losses on short-term and long-term investments, net of tax	(473,000)	0	(1,376,000)	(1,000)
Operating lease right-of-use asset	6,969,000		6,969,000		$ 700,000	$ 1,200,000
Operating lease liabilities	7,865,000		7,865,000		$ 700,000	$ 1,300,000
Financing lease right-of-use assets	329,000		329,000
Financing lease liabilities	349,000		349,000
Accounting Standards Update 2016-02
Accounting Policies [Line Items]
Operating lease right-of-use asset							$ 6,000,000
Operating lease liabilities							7,000,000
Financing lease right-of-use assets							400,000
Financing lease liabilities							$ 400,000
Restricted Stock Units (RSUs)
Accounting Policies [Line Items]
Unvested stock liability	300,000		300,000					$ 500,000
Maximum
Accounting Policies [Line Items]
Advertising costs	$ 100,000	$ 100,000	$ 100,000	100,000
Unrealized losses on short-term and long-term investments, net of tax				$ (100,000)
Software Development
Accounting Policies [Line Items]
Amortization period of capitalized software costs			5 years

Leases - Schedule of Operating Lease Liability Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Leases [Abstract]
2022 (excluding the nine months ended September 30)	$ 313
2023	1,273
2024	1,306
2025	1,339
2026	1,372
Thereafter	3,627
Total lease payments	9,230	$ 4,600
Less imputed interest	(1,094)
Total present value of lease liabilities	$ 8,136

Stock-based compensation - Schedule of Restricted Stock and Restricted Stock Units Activity (Details) - $ / shares	1 Months Ended	3 Months Ended	9 Months Ended
	Feb. 28, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Restricted Stock
Number of shares
Unvested units at beginning of period (in shares)			248,903
Granted (in shares)	248,903		0
Vested (in shares)			(93,338)
Forfeited (in shares)			0
Unvested units at end of period (in shares)		155,565	155,565
Weighted average fair value
Unvested units at beginning of period (in dollars per share)			$ 2.10
Granted (in dollars per share)	$ 2.10
Vested (in dollars per share)			2.10
Forfeited (in shares)
Unvested units at end of period (in dollars per share)		$ 2.10	$ 2.10
Restricted Stock Units (RSUs)
Number of shares
Unvested units at beginning of period (in shares)			0
Granted (in shares)			634,797	0
Vested (in shares)			0
Forfeited (in shares)			(113,250)
Unvested units at end of period (in shares)		521,547	521,547
Weighted average fair value
Unvested units at beginning of period (in dollars per share)
Granted (in dollars per share)		$ 3.64	7.36
Vested (in dollars per share)
Forfeited (in shares)			7.71
Unvested units at end of period (in dollars per share)		$ 7.29	$ 7.29

Commitments and contingencies	9 Months Ended
Commitments and contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Software subscription During the year ended December 31, 2021, the Company entered into a non-cancelable agreement with a service provider for software as a service and cloud hosting services. As of September 30, 2022, the Company had committed to minimum payments under this arrangement totaling $0.8 million through January 31, 2026. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. The Company had zero and $0.1 million accrued for the software subscription as of September 30, 2022 and December 31, 2021, respectively. Indemnification agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to customers, vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and certain of its executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is not currently aware of any indemnification claims and has not accrued any liabilities related to such obligations in its condensed consolidated financial statements as of September 30, 2022 and December 31, 2021. Legal proceedings The Company is not a party to any litigation and does not have contingency reserves established for any litigation liabilities. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company expenses as incurred the costs related to legal proceedings.

Commitments and contingencies (Details) - Software subscription - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Long-term Purchase Commitment [Line Items]
Purchase obligation	$ 800,000
Accrued liability	$ 0	$ 100,000

Investments (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

Short-term and long-term investments by investment type consisted of the following (in thousands):


	September 30, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Short-term investments
U.S. Government Treasury Bills	$	37,234	$	—	$	(126)	$	37,108
U.S. Government Treasury Notes	52,553		—		(599)		51,954
	$	89,787	$	—	$	(725)	$	89,062
Long-term Investments
Certificates of Deposit	1,672		—		(32)		1,640
U.S. Government Treasury Notes - Maturity Up To Two Years	34,209		—		(635)		33,574
	$	35,881	$	—	$	(667)	$	35,214


	December 31, 2021
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Short-term investments
U.S. Government Treasury Bills	$	4,983	$	—	$	(2)	$	4,981
U.S. Government Treasury Notes	10,142		—		(13)		10,129
	$	15,125	$	—	$	(15)	$	15,110
Long-term Investments
U.S. Government Treasury Notes - Maturity Up To Two Years	$	9,966	$	—	$	—	$	9,966
	$	9,966	$	—	$	—	$	9,966

Leases - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
Leases - Narrative (Details) $ in Thousands	Mar. 31, 2022 USD ($) renewalOption	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) renewalOption	May 31, 2022 USD ($)
Leases
Finance lease term		8 years	8 years
Finance lease renewal term		5 years	5 years
Rent expense		$ 400	$ 1,300
Number of operating lease renew options \| renewalOption	1
Operating lease renewal term	5 years
Tenant improvement allowance	$ 300
Future minimum lease payments	4,600	9,230	9,230
Future minimum lease payments for leases not yet commenced		900	900
Operating lease right-of-use asset	1,200	6,969	6,969	$ 700
Operating lease liabilities	$ 1,300	$ 7,865	$ 7,865	$ 700
Minimum
Leases
Operating lease term		8 years	8 years
Number of finance lease renew options \| renewalOption			1
Maximum
Leases
Operating lease term		10 years	10 years
Depreciation and interest expense		$ 100	$ 100

Common stock and common stock warrants

9 Months Ended

Sep. 30, 2022

Common stock and common stock warrants

Common stock and common stock warrants

As of September 30, 2022 and December 31, 2021, the Company’s restated certificate of incorporation authorized the issuance of 210,000,000 shares of $0.01 par value Class A common stock.

On June 25, 2021, the Company filed an amended and restated certificate of incorporation, which effected a recapitalization of the Company’s then outstanding common stock to Class A common stock and authorized an additional new class of common stock (Class B common stock). Rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. On July 19, 2021, the Company filed an amended and restated certificate of incorporation which authorized Class A common stock and Class B common stock to 210,000,000 shares and 10,000,000 shares, respectively. As of September 30, 2022, there were 36,440,906 shares of Class A common stock issued and outstanding, and 5,553,379 shares of Class B common stock issued and outstanding.

Each share of Class A common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. The Company’s Class B common stock is non-voting. Class A and Class B common stockholders are entitled to receive dividends, as may be declared by the board of directors, if any, subject to the preferential dividend rights of Preferred Stock. As of September 30, 2022, no cash dividends had been declared or paid.

As of September 30, 2022, the Company had reserved 20,216,677 shares of common stock for the exercise of outstanding stock options, vesting of restricted stock units, the number of shares remaining available for grant under the Company’s 2021 Incentive Award Plan (see Note 13), the number of shares available for purchase under the Company’s Employee Stock Purchase Plan (see Note 13), shares of common stock for the exercise of outstanding common stock warrants and the conversion of Class B common stock.

Prior to its IPO, the Company issued warrants to purchase preferred stock in conjunction with previous financing arrangements. In connection with the IPO, all outstanding preferred stock warrants were automatically converted to Class A common stock warrants. The contractual terms of the converted Class A common stock warrants remained consistent with the original terms of the preferred stock warrants. The Company determined the event resulted in equity classification of the Class A common stock warrants and reclassified the fair value of the preferred stock warrant liability as of the IPO date into equity.

As of September 30, 2022, outstanding warrants to purchase common stock consisted of the following:


	September 30, 2022
Issuance date	Contractual term	Balance sheet classification	Shares of common stock issuable upon exercise of warrant	Weighted average exercise price
	(in years)
July 24, 2017	10	Equity	17,194	$	292.81
April 12, 2018	10	Equity	30,000	$	1.00
July 14, 2021	10	Equity	975,109	$	1.46
			1,022,303

As of December 31, 2021, outstanding warrants to purchase common stock outstanding consisted of the following:


	December 31, 2021
Issuance date	Contractual term	Balance sheet classification	Shares of common stock issuable upon exercise of warrant	Weighted average exercise price
	(in years)
July 24, 2017	10	Equity	25,835	$	295.15
April 12, 2018	10	Equity	30,000	$	1.00
July 14, 2021	10	Equity	975,109	$	1.46
			1,030,944

Investments

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Investments

Short-term and long-term investments by investment type consisted of the following (in thousands):


	September 30, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Short-term investments
U.S. Government Treasury Bills	$	37,234	$	—	$	(126)	$	37,108
U.S. Government Treasury Notes	52,553		—		(599)		51,954
	$	89,787	$	—	$	(725)	$	89,062
Long-term Investments
Certificates of Deposit	1,672		—		(32)		1,640
U.S. Government Treasury Notes - Maturity Up To Two Years	34,209		—		(635)		33,574
	$	35,881	$	—	$	(667)	$	35,214


	December 31, 2021
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Short-term investments
U.S. Government Treasury Bills	$	4,983	$	—	$	(2)	$	4,981
U.S. Government Treasury Notes	10,142		—		(13)		10,129
	$	15,125	$	—	$	(15)	$	15,110
Long-term Investments
U.S. Government Treasury Notes - Maturity Up To Two Years	$	9,966	$	—	$	—	$	9,966
	$	9,966	$	—	$	—	$	9,966

Accrued expenses and other current liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Accrued employee compensation and benefits expense	$	4,371	$	3,569
Accrued vendor expenses	1,801		5,500
Accrued warranty expense	911		598
Deferred rent, current portion	—		131
Accrued taxes	230		781
Other	78		338
	$	7,391	$	10,917

Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

The Company adopted Topic 842 on January 1, 2022 using the optional transition method to the modified retrospective approach. The impact of the adoption of Topic 842 to the Company's applicable balance sheet items as of January 1, 2022 is presented in the table below (in thousands). The standard did not have a material impact to the Company's unaudited condensed consolidated statements of operations, comprehensive loss, or cash flows.


	As Reported December 31, 2021		Adjustments ASC 842 Adoption		Adjusted January 1, 2022
Assets
Right-of-use assets, net, operating	$	—	$	6,039	$	6,039
Right-of-use assets, net, financing	—		366		366
Property and equipment, net	11,304		(351)		10,953
Total	$	11,304	$	6,054	$	17,358
Total assets	$	241,169	$	6,054	$	247,223

Liabilities and Stockholders' Equity
Current liabilities:
Lease liabilities, short-term, operating	$	—	$	1,023	$	1,023
Lease liabilities, short-term, financing	—		33		33
Accrued expenses	10,917		(160)		10,757
Total	$	10,917	$	896	$	11,813
Total current liabilities	$	18,166	$	896	$	19,062
Lease liabilities, long-term, operating	—		5,960		5,960
Lease liabilities, long-term, financing	—		341		341
Deferred rent, long-term	813		(813)		—
Other long-term liabilities	1,210		(330)		880
Total	$	2,023	$	5,158	$	7,181
Total liabilities	$	20,189	$	6,054	$	26,243
Total stockholders' equity	$	220,980	$	—	$	220,980
Total liabilities and stockholders' equity	$	241,169	$	6,054	$	247,223

The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. See Note 2 for more information on the Company’s accounting policies for leases.

The Company leases office and manufacturing space under operating lease agreements that have initial terms ranging from approximately 8 to 10 years. The Company leases furniture under a financing lease agreement that has an initial term of approximately 8 years. Some leases include one or more options to renew, generally at the Company's sole discretion, with renewal terms that can extend the lease term by up to 5 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. Options to extend a lease are included in the lease term when it is reasonably certain that the Company will exercise the option. Options to terminate a lease are excluded from the lease term when it is reasonably certain that the Company will not exercise the option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees.

Supplemental cash flow information related to leases is as follows (in thousands):


	Nine Months Ended September 30, 2022

Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	893
Operating cash outflows - payments on financing leases	$	32
Financing cash outflows - payments on financing leases	$	24
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	7,605
Financing leases	$	366

Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands):


	September 30, 2022
Operating Leases:
Operating lease assets	$	6,969

Accrued expenses and other current liabilities	$	711
Operating lease liabilities	7,154
Total operating lease liabilities	$	7,865

Financing Leases:
Office furniture and fixtures	$	386
Accumulated depreciation	(57)
Net property, plant and equipment	$	329

Current portion of long-term debt	$	36
Long-term debt	313
Total financing lease liabilities	$	349

Weighted-average remaining lease term - operating leases (in years):	6.79
Weighted-average remaining lease term - financing leases (in years):	6.75
Weighted-average discount rate - operating leases:	3.7		%
Weighted-average discount rate - financing leases:	12.0		%

The components of lease expense were as follows (in thousands):


	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
Operating lease cost	$	297	$	847
Financing lease cost - amortization of right-of-use asset	12		37
Financing lease cost - interest on lease liability	11		32
Short-term lease cost	14		45
Variable lease cost	138		454
Total lease cost	$	472	$	1,415

Operating lease cost is recognized on a straight-line basis over the lease term. Total rent expense, including the Company’s share of the lessors’ operating expenses, was $0.4 million and $1.3 million, respectively, for the three and nine months ended September 30, 2022. Financing lease cost includes asset amortization on a straight-line basis over the lease term and interest accretion calculated using the effective interest method. Total financing lease asset depreciation and interest expense was less than $0.1 million for the three and nine months ended September 30, 2022.

In March 2022, the Company amended the lease for its office and manufacturing space in Lowell, Massachusetts (the “Amendment”). The Amendment increased the amount of facility space subject to the lease and extended the expiration of the lease from July 2026 to July 2029. The terms of the Amendment include options for a one-time, five-year extension of the lease and early termination of the lease in July 2026 (subject to an early termination fee), as well as a $0.3 million tenant improvement allowance. Monthly rent payments are fixed and future minimum lease payments under the lease (as amended) are $4.6 million. Included in the $4.6 million are leases with commencement dates expected later in 2022 and therefore are not recorded on the consolidated balance sheets as of September 30, 2022. The future minimum lease payments related to these leases are approximately $0.9 million. The Amendment qualified as a lease modification and resulted in a right of use asset and lease liability in the amount of $1.2 million and $1.3 million, respectively, recognized in March 2022, and an additional right of use asset and lease liability of $0.7 million recognized in May 2022.

Maturities of the Company’s operating lease liabilities as of September 30, 2022 were as follows (in thousands):


	Operating Lease Maturities
2022 (excluding the nine months ended September 30)	$	313
2023	1,273
2024	1,306
2025	1,339
2026	1,372
Thereafter	3,627
Total lease payments	$	9,230
Less imputed interest	(1,094)
Total present value of lease liabilities	$	8,136

Maturities of the Company’s financing lease liability as of September 30, 2022 were as follows (in thousands):


	Financing Lease Maturities
2022 (excluding the nine months ended September 30)	$	19
2023	75
2024	75
2025	75
2026	75
Thereafter	187
Total lease payments	$	506
Less imputed interest	(157)
Total present value of lease liabilities	$	349

Maturities of the Company’s operating lease liabilities as of December 31, 2021 were as follows (in thousands):


	Year Ended December 31, 2021
2022	$	1,139
2023	1,169
2024	1,199
2025	1,229
2026	1,044
Thereafter	1,953
Total minimum lease commitments	$	7,733

Leases


	As Reported December 31, 2021		Adjustments ASC 842 Adoption		Adjusted January 1, 2022
Assets
Right-of-use assets, net, operating	$	—	$	6,039	$	6,039
Right-of-use assets, net, financing	—		366		366
Property and equipment, net	11,304		(351)		10,953
Total	$	11,304	$	6,054	$	17,358
Total assets	$	241,169	$	6,054	$	247,223

Liabilities and Stockholders' Equity
Current liabilities:
Lease liabilities, short-term, operating	$	—	$	1,023	$	1,023
Lease liabilities, short-term, financing	—		33		33
Accrued expenses	10,917		(160)		10,757
Total	$	10,917	$	896	$	11,813
Total current liabilities	$	18,166	$	896	$	19,062
Lease liabilities, long-term, operating	—		5,960		5,960
Lease liabilities, long-term, financing	—		341		341
Deferred rent, long-term	813		(813)		—
Other long-term liabilities	1,210		(330)		880
Total	$	2,023	$	5,158	$	7,181
Total liabilities	$	20,189	$	6,054	$	26,243
Total stockholders' equity	$	220,980	$	—	$	220,980
Total liabilities and stockholders' equity	$	241,169	$	6,054	$	247,223

Supplemental cash flow information related to leases is as follows (in thousands):


	Nine Months Ended September 30, 2022

Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	893
Operating cash outflows - payments on financing leases	$	32
Financing cash outflows - payments on financing leases	$	24
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	7,605
Financing leases	$	366

Supplemental balance sheet information related to the Company’s operating and financing leases is as follows (in thousands):


	September 30, 2022
Operating Leases:
Operating lease assets	$	6,969

Accrued expenses and other current liabilities	$	711
Operating lease liabilities	7,154
Total operating lease liabilities	$	7,865

Financing Leases:
Office furniture and fixtures	$	386
Accumulated depreciation	(57)
Net property, plant and equipment	$	329

Current portion of long-term debt	$	36
Long-term debt	313
Total financing lease liabilities	$	349

Weighted-average remaining lease term - operating leases (in years):	6.79
Weighted-average remaining lease term - financing leases (in years):	6.75
Weighted-average discount rate - operating leases:	3.7		%
Weighted-average discount rate - financing leases:	12.0		%

The components of lease expense were as follows (in thousands):


	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
Operating lease cost	$	297	$	847
Financing lease cost - amortization of right-of-use asset	12		37
Financing lease cost - interest on lease liability	11		32
Short-term lease cost	14		45
Variable lease cost	138		454
Total lease cost	$	472	$	1,415

Maturities of the Company’s operating lease liabilities as of September 30, 2022 were as follows (in thousands):


	Operating Lease Maturities
2022 (excluding the nine months ended September 30)	$	313
2023	1,273
2024	1,306
2025	1,339
2026	1,372
Thereafter	3,627
Total lease payments	$	9,230
Less imputed interest	(1,094)
Total present value of lease liabilities	$	8,136

Maturities of the Company’s financing lease liability as of September 30, 2022 were as follows (in thousands):


	Financing Lease Maturities
2022 (excluding the nine months ended September 30)	$	19
2023	75
2024	75
2025	75
2026	75
Thereafter	187
Total lease payments	$	506
Less imputed interest	(157)
Total present value of lease liabilities	$	349

Maturities of the Company’s operating lease liabilities as of December 31, 2021 were as follows (in thousands):


	Year Ended December 31, 2021
2022	$	1,139
2023	1,169
2024	1,199
2025	1,229
2026	1,044
Thereafter	1,953
Total minimum lease commitments	$	7,733

Benefit plans	9 Months Ended
Benefit plans	Sep. 30, 2022
Retirement Benefits [Abstract]
Benefit plans	Benefit plansThe Company established a defined contribution savings plan under Section 401(k) of the Code. This plan covers all employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. Matching contributions to the plan may be made at the discretion of the Company’s board of directors. The Company made contributions of $0.2 million and $0.1 million to the plan during the three months ended September 30, 2022 and 2021, respectively, and made contributions of $0.6 million and $0.2 million to the plan during the nine months ended September 30, 2022 and 2021, respectively.

Preferred stock warrants - Schedule of Unobservable Inputs of Preferred Stock Warrant Liability (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2021 Y $ / shares	Sep. 30, 2021 Y $ / shares
Remaining contractual term (in years)
Preferred stock warrants
Preferred stock warrant liability, measurement input \| Y	6.6	6.8
Risk-free interest rate
Preferred stock warrants
Preferred stock warrant liability, measurement input	0.010	0.012
Expected dividend yield
Preferred stock warrants
Preferred stock warrant liability, measurement input	0	0
Expected volatility
Preferred stock warrants
Preferred stock warrant liability, measurement input	0.422	0.420
Fair value of Series A1 preferred stock
Preferred stock warrants
Fair value of preferred stock warrant liability (in dollars per share)	$ 4.00	$ 3.01
Fair value of Series B1 preferred stock
Preferred stock warrants
Fair value of preferred stock warrant liability (in dollars per share)	4.00	3.26
Fair value of Series C1 preferred stock
Preferred stock warrants
Fair value of preferred stock warrant liability (in dollars per share)	$ 4.00	$ 3.30

Preferred stock warrants - Narrative (Details) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 shares	Dec. 31, 2021 shares	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	May 31, 2020 USD ($) $ / shares shares
Preferred stock warrants
Warrant fair value \| $	$ 0	$ 0			$ 15,600	$ 4,117
Outstanding warrants (in shares) \| shares			0	0
Expected dividend yield
Preferred stock warrants
Preferred stock warrant liability, measurement input	0	0
Series C1 Preferred Stock
Preferred stock warrants
Warrant term							10 years
Warrant fair value \| $							$ 700
Series C1 Preferred Stock \| 2020 Term Loan
Preferred stock warrants
Warrants issued (in shares) \| shares							1,195,652
Exercise price of warrants (in dollars per share) \| $ / shares							$ 1.15

Net loss per share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net loss per share

As of September 30, 2022, the Company had Class A common stock and Class B common stock. According to the Company’s restated certificate of incorporation, both classes have the same rights to the Company’s earnings and neither of the shares have any prior or senior rights to dividends to other shares.

The Company reported a net loss attributable to common stockholders for the three and nine months ended September 30, 2022 and 2021, as such basic net loss per share attributable to common stockholders was the same as diluted net loss per share attributable to common stockholders. Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net loss	$	(16,339)	$	(24,987)	$	(44,359)	$	(58,919)
Accretion of redeemable convertible preferred stock to redemption value	—		210		—		(1,761)
Cumulative redeemable convertible preferred stock dividends	—		(451)		—		(2,747)
Net loss attributable to common stockholders—basic and diluted	$	(16,339)	$	(25,228)	$	(44,359)	$	(63,427)
Denominator:
Weighted average Class A common shares outstanding—basic and diluted	36,964,613		29,463,234		36,619,187		10,372,225
Weighted average Class B common shares outstanding—basic and diluted	5,553,379		5,852,865		5,785,056		1,972,394
Total shares for EPS—basic and diluted	42,517,992		35,316,099		42,404,243		12,344,619
Net loss per share attributable to Class A common stockholders—basic and diluted	$	(0.38)	$	(0.71)	$	(1.05)	$	(5.14)
Net loss per share attributable to Class B common stockholders—basic and diluted	$	(0.38)	$	(0.71)	$	(1.05)	$	(5.14)

The Company’s potentially dilutive securities, which include stock options, restricted stock, redeemable convertible preferred stock, common stock warrants and preferred stock warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on

amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:


	Three and Nine Months Ended September 30,
	2022	2021
Options to purchase common stock	5,242,448	4,772,207
Unvested restricted common stock	677,112	—
Warrants to purchase common stock	286,324	294,965
Options to purchase common stock under ESPP	8,107	—
	6,213,991	5,067,172

Stock-based compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 673	$ 584	$ 2,914	$ 1,165
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	118	106	387	221
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	93	57	266	106
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	93	76	370	158
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 369	$ 345	$ 1,891	$ 680

Preferred stock warrants

9 Months Ended

Sep. 30, 2022

Preferred stock warrants

Preferred stock warrants

In connection with the 2020 Term Loan, the Company issued 1,195,652 warrants to purchase shares of Series C1 Preferred Stock at an exercise price of $1.15 per share. The Company’s warrants were immediately exercisable and expire 10 years after issuance. The fair value of the warrants on the issuance date was $0.7 million. The Company also had outstanding warrants to purchase shares of Preferred Stock issued in connection with previous financing agreements.

In connection with the IPO, all of the Company’s outstanding preferred stock warrants were automatically converted to Class A common stock warrants. The Company determined the conversion to Class A common stock warrants resulted in equity classification of the Class A common stock warrants and reclassified the fair value of the preferred stock warrant liability as of the IPO date into stockholders’ equity (see Note 12).

The warrant liability was related to the warrants to purchase shares of the Company’s Series A1, B1, and C1 redeemable convertible preferred stock (see Note 10). The fair value of the warrant liability was determined based on inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy.

The Company used the Black-Scholes option-pricing model, which incorporates assumptions and estimates, to value the warrant liability. Key estimates and assumptions impacting the fair value measurement include (i) the fair value per share of the underlying shares of applicable series of redeemable convertible preferred stock issuable upon exercise of the warrants, (ii) the remaining contractual term of the warrants, (iii) the risk-free interest rate, (iv) the expected dividend yield and (v) expected volatility of the price of the underlying applicable series of redeemable convertible preferred stock. The Company estimated the fair value per share of the underlying applicable series of redeemable convertible preferred stock based, in part, on the results of third-party valuations and additional factors deemed relevant. The risk-free interest rate was determined by reference to the U.S. Treasury yield curve for time periods approximately equal to the remaining contractual term of the warrant. The Company estimated a zero expected dividend yield based on the fact that the Company has never paid or declared dividends and does not intend to do so in the foreseeable future. As the Company has historically been a private company and lacks company-specific historical and implied volatility information of its stock, the expected stock volatility was based on the historical volatility of publicly traded peer companies for a term equal to the remaining contractual term of the warrant.

The table below quantifies the weighted average of the unobservable inputs used to fair value the preferred stock warrant liability prior to their conversion into common stock warrants:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2021
Fair value of Series A1 preferred stock	$	4.00	$	3.01
Fair value of Series B1 preferred stock	$	4.00	$	3.26
Fair value of Series C1 preferred stock	$	4.00	$	3.30
Remaining contractual term (in years)	6.6		6.8
Risk-free interest rate	1.0 %		1.2 %
Expected dividend yield	— %		— %
Expected volatility	42.2 %		42.0 %

The following table provides a rollforward of the aggregate fair values of the Company’s preferred stock warrant liability, prior to their conversion into common stock warrants, for which fair values are determined using Level 3 inputs (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2021
Balance, beginning of period	$	15,600	$	4,117
Change in fair value of preferred stock warrants	8,160		19,643
Conversion of preferred stock warrants to common stock warrants	(23,760)		(23,760)
Balance, end of period	$	—	$	—

There were no outstanding preferred stock warrants as of September 30, 2022 or December 31, 2021.

Accrued expenses and other current liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued employee compensation and benefits expense	$ 4,371	$ 3,569
Accrued vendor expenses	1,801	5,500
Accrued warranty expense	911	598
Deferred rent, current portion		131
Accrued taxes	230	781
Other	78	338
Total accrued expenses and other current liabilities	$ 7,391	$ 10,917

Leases - Schedule of Pre-Adoption Operating Lease Liability Maturities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 1,139
2023	1,169
2024	1,199
2025	1,229
2026	1,044
Thereafter	1,953
Total minimum lease commitments	$ 7,733

Condensed consolidated balance sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 25,832	$ 178,387
Short-term investments	89,062	15,110
Accounts receivable	4,658	5,005
Inventory	20,924	15,671
Prepaid expenses and other current assets	4,101	3,951
Total current assets	144,577	218,124
Property and equipment, net	13,230	11,304
Right-of-use assets, net	7,298
Long-term investments	35,214	9,966
Other long-term assets	1,313	1,491
Restricted cash	284	284
Total assets	201,916	241,169
Current liabilities:
Accounts payable	3,670	3,944
Accrued expenses and other current liabilities	7,391	10,917
Deferred revenue	3,404	3,305
Lease liabilities, short-term	747
Total current liabilities	15,212	18,166
Deferred rent, long term		813
Lease liabilities, long-term	7,467
Other long-term liabilities	221	1,210
Total liabilities	22,900	20,189
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock	0	0
Additional paid-in capital	539,459	535,693
Accumulated deficit	(359,471)	(315,112)
Accumulated other comprehensive loss	(1,392)	(16)
Total stockholders’ equity	179,016	220,980
Total liabilities and stockholders’ equity	201,916	241,169
Class A Common stock
Stockholders’ equity:
Common stock	365	346
Class B Common stock
Stockholders’ equity:
Common stock	$ 55	$ 69

Prepaid expenses and other current assets

9 Months Ended

Sep. 30, 2022

Prepaid Expense and Other Assets, Current [Abstract]

Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Prepaid insurance	$	2,112	$	1,622
Contract asset	56		396
Deposits	1,207		1,262
Lease receivables, current portion	—		231
Other	726		440
	$	4,101	$	3,951

Common stock and common stock warrants - Schedule of Outstanding Common Stock Warrants (Details) - Common Stock Warrants - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Common stock and common stock warrants
Shares of common stock issuable upon exercise of warrant (in shares)	1,022,303	1,030,944
July 24, 2017
Common stock and common stock warrants
Contractual term	10 years	10 years
Shares of common stock issuable upon exercise of warrant (in shares)	17,194	25,835
Weighted average exercise price (in dollars per share)	$ 292.81	$ 295.15
April 12, 2018
Common stock and common stock warrants
Contractual term	10 years	10 years
Shares of common stock issuable upon exercise of warrant (in shares)	30,000	30,000
Weighted average exercise price (in dollars per share)	$ 1.00	$ 1.00
July 14, 2021
Common stock and common stock warrants
Contractual term	10 years	10 years
Shares of common stock issuable upon exercise of warrant (in shares)	975,109	975,109
Weighted average exercise price (in dollars per share)	$ 1.46	$ 1.46

Income taxes	9 Months Ended
Income taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxes During the three and nine months ended September 30, 2022 and 2021, the pretax losses incurred by the Company, as well as the research and development tax credits generated, received no corresponding tax benefit because the Company concluded that it is more likely than not that the Company will be unable to realize the value of any resulting deferred tax assets. The Company will continue to assess its position in future periods to determine if it is appropriate to reduce a portion of its valuation allowance in the future. The Company’s tax provision and the resulting effective tax rate for interim periods is determined based upon its estimated annual effective tax rate, adjusted for the effect of discrete items arising in that quarter. The impact of such inclusions could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings or losses versus annual projections. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, a cumulative adjustment is made in that quarter. The Company has evaluated the positive and negative evidence bearing upon its ability to realize its deferred tax assets, which primarily consist of net operating loss carryforwards. The Company has considered its history of cumulative net losses, estimated future taxable income and prudent and feasible tax planning strategies and has concluded that it is more likely than not that the Company will not realize the benefits of its deferred tax assets. As a result, as of September 30, 2022 and December 31, 2021 the Company has recorded a full valuation allowance against its net deferred tax assets. The Company files U.S. income tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no pending tax examinations in the U.S. The Company has not received notice of examination by any jurisdictions in the U.S. The Company has a branch in Germany that was under local examination for tax years 2016 through 2018. The Company adjusted the uncertain tax position as a result of the outcome of this tax examination, which concluded in the second quarter of 2022, resulting in an income tax benefit of $0.6 million for the nine months ended September 30, 2022.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Net loss per share - Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss	$ (16,339)	$ (13,090)	$ (14,930)	$ (24,987)	$ (11,831)	$ (22,101)	$ (44,359)	$ (58,919)
Accretion of redeemable convertible preferred stock to redemption value	0			210			0	(1,761)
Cumulative redeemable convertible preferred stock dividends	0			(451)			0	(2,747)
Net loss attributable to common stockholders - basic	(16,339)			(25,228)			(44,359)	(63,427)
Net loss attributable to common stockholders - diluted	$ (16,339)			$ (25,228)			$ (44,359)	$ (63,427)
Denominator:
Weighted average common shares outstanding - basic (in shares)	42,517,992			35,316,099			42,404,243	12,344,619
Weighted average common shares outstanding - diluted (in shares)	42,517,992			35,316,099			42,404,243	12,344,619
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.38)			$ (0.71)			$ (1.05)	$ (5.14)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.38)			$ (0.71)			$ (1.05)	$ (5.14)
Class A Common stock
Denominator:
Weighted average common shares outstanding - basic (in shares)	36,964,613			29,463,234			36,619,187	10,372,225
Weighted average common shares outstanding - diluted (in shares)	36,964,613			29,463,234			36,619,187	10,372,225
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.38)			$ (0.71)			$ (1.05)	$ (5.14)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.38)			$ (0.71)			$ (1.05)	$ (5.14)
Class B Common stock
Denominator:
Weighted average common shares outstanding - basic (in shares)	5,553,379			5,852,865			5,785,056	1,972,394
Weighted average common shares outstanding - diluted (in shares)	5,553,379			5,852,865			5,785,056	1,972,394
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.38)			$ (0.71)			$ (1.05)	$ (5.14)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.38)			$ (0.71)			$ (1.05)	$ (5.14)

Stock-based compensation - Schedule of ESPP Black-Scholes Option-Pricing Model (Details) - Employee Stock - 2021 ESPP	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Share-based compensation
Risk-free interest rate	3.78%	2.60%
Expected term (in years)	6 months	6 months
Expected volatility	53.30%	49.10%
Expected dividend yield	0.00%	0.00%

Common stock and common stock warrants - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) Vote $ / shares shares	Dec. 31, 2021 $ / shares shares	Sep. 30, 2021 shares	Jul. 19, 2021 shares
Common stock and common stock warrants
Cash dividends \| $	$ 0
Shares reserved (in shares)			20,216,677
Class A Common stock
Common stock and common stock warrants
Common stock, authorized (in shares)	210,000,000	210,000,000		210,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Common stock, issued (in shares)	36,440,906	34,564,040
Common stock, outstanding (in shares)	36,440,906	34,564,040
Number of votes per share held \| Vote	1
Class B Common stock
Common stock and common stock warrants
Common stock, authorized (in shares)	10,000,000	10,000,000		10,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Common stock, issued (in shares)	5,553,379	6,903,379
Common stock, outstanding (in shares)	5,553,379	6,903,379

Redeemable convertible preferred stock (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 14, 2021	Jun. 25, 2021	Mar. 31, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jul. 19, 2021
Redeemable convertible preferred stock
Gross proceeds of shares issued					$ 0	$ 79,743
Preferred stock, authorized (in shares)					10,000,000		10,000,000	10,000,000
Preferred stock, par value (in dollars per share)					$ 0.01		$ 0.01	$ 0.01
Series D1 Preferred Stock
Redeemable convertible preferred stock
Shares issued (in shares)			22,086,725	22,086,725,000
Share price of shares issued (in dollars per share)			$ 3.60	$ 3.60
Gross proceeds of shares issued			$ 79,500
Series D2 Preferred Stock
Redeemable convertible preferred stock
Shares issued (in shares)			413,268	413,268,000
Share price of shares issued (in dollars per share)			$ 3.60	$ 3.60
Gross proceeds of shares issued			$ 1,500
Number of shares exchanged (in shares)		2,364,509
Series D1 and D2 Preferred Stock
Redeemable convertible preferred stock
Issuance costs			$ 2,700
Series C2 Redeemable Convertible Preferred Stock
Redeemable convertible preferred stock
Number of shares exchanged (in shares)		11,437,301
Class A Common stock
Redeemable convertible preferred stock
Conversion of stock (in shares)	24,200,920
Class B Common stock
Redeemable convertible preferred stock
Conversion of stock (in shares)	6,903,379

Summary of significant accounting policies (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Schedule of Concentration Risk

The following table presents customers that represent 10% or more of the Company’s total revenue:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Customer A	23.1	%	32.1	%	22.2	%	16.4	%
Customer B	19.5	%	*		*		*
Customer D	*		11.4	%	*		*
	42.6	%	43.5	%	22.2	%	16.4	%

____________________________

*– less than 10%

The following table presents customers that represent 10% or more of the Company’s accounts receivable:


	September 30,		December 31,
	2022		2021
Customer A	29.8	%	19.5	%
Customer B	25.5	%	*
Customer C	10.8	%	*
Customer D	*		12.6	%
Customer E	*		10.6	%
Customer F	*		10.0	%
	66.1	%	52.7	%

____________________________

*– less than 10%

Schedule of Product Warranties

The following table presents a summary of changes in the amount reserved for warranty cost (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Balance, beginning of period	$	936	$	612	$	598	$	637
Warranty provisions	295		—		646		—
Warranty repairs	(320)		—		(333)		(25)
Balance, end of period	$	911	$	612	$	911	$	612

Schedule of Disaggregated Revenue

The following table presents the Company’s revenue by the recurring or non-recurring and commercial or non-commercial nature of the revenue stream (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Product and service revenue — recurring	$	2,908	$	2,171	$	8,066	$	5,539
Product and service revenue — non-recurring	1,831		4,132		4,693		11,243
Non-commercial revenue — non-recurring	—		596		—		1,242
Total revenue	$	4,739	$	6,899	$	12,759	$	18,024

The following table presents the Company’s revenue by customer geography (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
United States	$	2,091	$	4,313	$	6,452	$	10,086
Germany	1,413		298		2,238		1,263
Switzerland	608		899		2,096		2,989
All other countries	627		1,389		1,973		3,686
Total revenue	$	4,739	$	6,899	$	12,759	$	18,024

Stock-based compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Black-Scholes Option-Pricing Model


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Risk-free interest rate	3.2	%	1.0	%	2.1	%	0.9	%
Expected term (in years)	6.1		5.8		6.0		6.0
Expected volatility	44.4	%	43.7	%	43.2	%	51.5	%
Expected dividend yield	0	%	0	%	0	%	0	%

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity since December 31, 2021:


	Number of shares	Weighted average exercise price		Weighted average remaining contractual term	Aggregate intrinsic value
				(in years)	(in thousands)
Outstanding as of December 31, 2021	4,823,100	$	5.06	7.62	$	31,041
Granted	1,641,392	7.30
Exercised	(475,033)	0.99
Expired	(21,625)	13.91
Forfeited	(725,386)	12.01
Outstanding as of September 30, 2022	5,242,448	$	5.11	7.64	$	6,011
Options vested and expected to vest as of September 30, 2022	5,242,448	$	5.11	7.64	$	6,011
Options exercisable as of September 30, 2022	2,657,164	$	3.03	6.37	$	4,724

Schedule of Restricted Stock and Restricted Stock Units Activity

The following table summarizes the Company’s restricted stock activity since December 31, 2021:


	Number of shares	Weighted average fair value

Unvested as of December 31, 2021	248,903	$	2.10
Granted	—
Vested	(93,338)	$	2.10
Forfeited	—
Unvested as of September 30, 2022	155,565	$	2.10

The following table summarizes restricted stock units granted to Company employees during the nine months ended September 30, 2022:


	Number of shares	Weighted average fair value

Unvested as of December 31, 2021	—
Granted	634,797	$	7.36
Vested	—
Forfeited	(113,250)	$	7.71
Unvested as of September 30, 2022	521,547	$	7.29

Schedule of ESPP Black-Scholes Option-Pricing Model

The following weighted average assumptions were used in the calculation of fair value of shares under the 2021 ESPP at the grant date for the three and nine months ended September 30, 2022 (there were no offering periods for the three and nine months ended September 30, 2021):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022		2022
Risk-free interest rate	3.78	%	2.60	%
Expected term (in years)	0.5		0.5
Expected volatility	53.3	%	49.1	%
Expected dividend yield	0	%	0	%

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Cost of revenue	$	118	$	106	$	387	$	221
Research and development	93		57		266		106
Sales and marketing	93		76		370		158
General and administrative	369		345		1,891		680
Total stock-based compensation expense	$	673	$	584	$	2,914	$	1,165

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Nov. 07, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-40592
Entity Registrant Name	Rapid Micro Biosystems, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8121647
Entity Address, Address Line One	1001 Pawtucket Boulevard West
Entity Address, Address Line Two	Suite 280
Entity Address, City or Town	Lowell
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01854
City Area Code	978
Local Phone Number	349-3200
Title of 12(b) Security	Class A common stock, $0.01 par value per share
Trading Symbol	RPID
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001380106
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		36,440,906
Class B Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		5,553,379

Condensed consolidated statements of operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Total revenue	$ 4,739	$ 6,899	$ 12,759	$ 18,024
Costs and operating expenses:
Research and development	2,973	2,441	9,463	6,926
Sales and marketing	3,930	3,063	10,870	8,460
General and administrative	7,189	5,308	19,687	12,135
Total costs and operating expenses	21,625	19,022	58,718	50,700
Loss from operations	(16,886)	(12,123)	(45,959)	(32,676)
Other income (expense):
Interest income (expense), net	575	(761)	947	(2,603)
Change in fair value of preferred stock warrant liability	0	(8,160)	0	(19,643)
Loss on extinguishment of debt	0	(3,100)	0	(3,100)
Other income (expense), net	(21)	(823)	70	(840)
Total other income (expense), net	554	(12,844)	1,017	(26,186)
Loss before income taxes	(16,332)	(24,967)	(44,942)	(58,862)
Income tax expense (benefit)	7	20	(583)	57
Net loss	(16,339)	(24,987)	(44,359)	(58,919)
Accretion of redeemable convertible preferred stock to redemption value	0	210	0	(1,761)
Cumulative redeemable convertible preferred stock dividends	0	(451)	0	(2,747)
Net loss attributable to common stockholders - basic	(16,339)	(25,228)	(44,359)	(63,427)
Net loss attributable to common stockholders - diluted	$ (16,339)	$ (25,228)	$ (44,359)	$ (63,427)
Net loss per share attributable to Class A and Class B common stockholders - basic (in dollars per share)	$ (0.38)	$ (0.71)	$ (1.05)	$ (5.14)
Net loss per share attributable to Class A and Class B common stockholders - diluted (in dollars per share)	$ (0.38)	$ (0.71)	$ (1.05)	$ (5.14)
Weighted average common shares outstanding - basic (in shares)	42,517,992	35,316,099	42,404,243	12,344,619
Weighted average common shares outstanding - diluted (in shares)	42,517,992	35,316,099	42,404,243	12,344,619
Product
Revenue:
Total revenue	$ 3,209	$ 4,824	$ 8,212	$ 12,630
Costs and operating expenses:
Cost of revenue	5,627	6,298	13,220	17,900
Service
Revenue:
Total revenue	1,530	1,479	4,547	4,152
Costs and operating expenses:
Cost of revenue	1,906	1,516	5,478	3,997
Non-commercial
Revenue:
Total revenue	0	596	0	1,242
Costs and operating expenses:
Cost of revenue	$ 0	$ 396	$ 0	$ 1,282

Net loss per share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net loss	$	(16,339)	$	(24,987)	$	(44,359)	$	(58,919)
Accretion of redeemable convertible preferred stock to redemption value	—		210		—		(1,761)
Cumulative redeemable convertible preferred stock dividends	—		(451)		—		(2,747)
Net loss attributable to common stockholders—basic and diluted	$	(16,339)	$	(25,228)	$	(44,359)	$	(63,427)
Denominator:
Weighted average Class A common shares outstanding—basic and diluted	36,964,613		29,463,234		36,619,187		10,372,225
Weighted average Class B common shares outstanding—basic and diluted	5,553,379		5,852,865		5,785,056		1,972,394
Total shares for EPS—basic and diluted	42,517,992		35,316,099		42,404,243		12,344,619
Net loss per share attributable to Class A common stockholders—basic and diluted	$	(0.38)	$	(0.71)	$	(1.05)	$	(5.14)
Net loss per share attributable to Class B common stockholders—basic and diluted	$	(0.38)	$	(0.71)	$	(1.05)	$	(5.14)

Schedule of Anti-Dilutive Shares Excluded from Computation of Diluted Net Let per Share

The Company excluded the following potential common shares, presented based on


	Three and Nine Months Ended September 30,
	2022	2021
Options to purchase common stock	5,242,448	4,772,207
Unvested restricted common stock	677,112	—
Warrants to purchase common stock	286,324	294,965
Options to purchase common stock under ESPP	8,107	—
	6,213,991	5,067,172

Summary of significant accounting policies

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of significant accounting policies

Use of estimates

The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, calculating the standalone selling price for revenue recognition, the valuation of inventory, the valuation of common stock and stock-based awards, and the valuation of the preferred stock warrant liability. The Company bases its estimates on historical experience, known trends and other market-specific and relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.

Due to the COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained.

Other than policies noted below, there have been no significant changes to the significant accounting policies during the three and nine months ended September 30, 2022, as compared to the significant accounting policies disclosed in Note 2 of the audited consolidated financial statements as of December 31, 2021 filed with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

Risk of concentrations of credit, significant customers and significant suppliers

Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains its cash and cash equivalents and investments with financial institutions that management believes to be of high credit quality. The Company has not experienced any other-than-temporary losses with respect to its cash equivalents and investments and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.

Significant customers are those which represent more than 10% of the Company’s total revenue or accounts receivable balance at each respective balance sheet date. The following table presents customers that represent 10% or more of the Company’s total revenue:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Customer A	23.1	%	32.1	%	22.2	%	16.4	%
Customer B	19.5	%	*		*		*
Customer D	*		11.4	%	*		*
	42.6	%	43.5	%	22.2	%	16.4	%

____________________________

*– less than 10%

The following table presents customers that represent 10% or more of the Company’s accounts receivable:


	September 30,		December 31,
	2022		2021
Customer A	29.8	%	19.5	%
Customer B	25.5	%	*
Customer C	10.8	%	*
Customer D	*		12.6	%
Customer E	*		10.6	%
Customer F	*		10.0	%
	66.1	%	52.7	%

____________________________

*– less than 10%

The Company relies on third parties for the supply and manufacture of certain components of its products as well as third-party logistics providers. There are no significant concentrations around a single third-party supplier or manufacturer for the three and nine months ended September 30, 2022 or 2021.

Debt issuance costs

The Company capitalizes certain legal and other third-party fees that are directly associated with the issuance of debt as debt issuance costs. Debt issuance costs are recorded as a direct reduction of the carrying amount of the associated debt on the condensed consolidated balance sheets and amortized as interest expense on the condensed consolidated statements of operations using the effective interest method, which approximates the straight-line method.

As of September 30, 2022 and December 31, 2021, the Company had no debt issuance costs on its condensed consolidated balance sheets. During the three months ended September 30, 2022 and 2021, the Company recorded zero and $0.1 million, respectively, and during the nine months ended September 30, 2022 and 2021, the Company recorded zero and $0.4 million, respectively, of interest expense related to amortization of debt issuance costs in the condensed consolidated statements of operations.

Cash equivalents

The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents that are readily convertible to cash are stated at cost, which approximates fair value. At September 30, 2022 and December 31, 2021, the Company held cash of $0.2 million and $0.3 million, respectively, in banks located outside of the United States.

Restricted cash

As of September 30, 2022 and December 31, 2021, the Company was required to maintain guaranteed investment certificates of $0.3 million with maturities of three months to one year that are subject to an insignificant risk of changes in value. The guaranteed investment certificates are held for the benefit of the landlord in connection with operating leases which have remaining terms of greater than one year and are classified as restricted cash (non-current) on the Company’s consolidated balance sheets.

Software Development Costs

The Company accounts for software development costs for internal-use software under the provisions of ASC 350-40, “Internal-Use Software” (“ASC 350”). Accordingly, certain costs to develop internal-use computer software are capitalized, provided these costs are expected to be recoverable. The Company had $1.1 million of software development costs, net of amortization, capitalized in other long-term assets at September 30, 2022. These capitalized costs are being amortized on a straight-line basis over the initial subscription term of five years. For the three months ended September 30, 2022 and 2021, there was $0.1 million and zero, respectively, and for the nine months ended September 30, 2022 and 2021, there was $0.3 million and zero, respectively, of amortization expense related to capitalized software development costs recorded in the condensed consolidated statements of operations.

Fair value measurements

Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

•Level 1—Quoted prices in active markets for identical assets or liabilities.

•Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

•Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The Company’s cash equivalents, short-term and long-term investments are carried at fair value, determined according to the fair value hierarchy described above (see Note 3). The carrying values of the Company’s accounts

receivable, prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities approximate their fair values due to the short-term nature of these assets and liabilities.

Product warranties

The Company offers a one-year limited assurance warranty on System sales, which is included in the selling price. The accrual for these warranty obligations is included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. The following table presents a summary of changes in the amount reserved for warranty cost (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Balance, beginning of period	$	936	$	612	$	598	$	637
Warranty provisions	295		—		646		—
Warranty repairs	(320)		—		(333)		(25)
Balance, end of period	$	911	$	612	$	911	$	612

Segment information

The Company determined its operating segment after considering the Company’s organizational structure and the information regularly reviewed and evaluated by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company has determined that its CODM is its Chief Executive Officer. The CODM reviews the financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. On the basis of these factors, the Company determined that it operates and manages its business as one operating segment, that develops, manufactures, markets and sells Systems and related LIMS connection software, consumables and services; and accordingly has one reportable segment for financial reporting purposes. Substantially all of the Company’s long-lived assets are held in the United States.

Revenue recognition

Remaining performance obligations

The Company does not disclose the value of remaining performance obligations for (i) contracts with an original contract term of one year or less, (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice when that amount corresponds directly with the value of services performed, and (iii) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied distinct service that forms part of a single performance obligation. The Company does not have material remaining performance obligations associated with contracts with terms greater than one year.

Contract balances from contracts with customers

Contract assets arise from unbilled amounts in customer arrangements when revenue recognized exceeds the amount billed to the customer and the Company’s right to payment is conditional and not only subject to the passage of time. The Company had $0.1 million and $0.3 million in contract assets as of September 30, 2022 and December 31, 2021, respectively, included in prepaid expenses and other current assets. These balances relate to unbilled amounts with commercial customers, as well as amounts due under the BARDA (as defined below) agreements.

Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which it has received consideration (or the amount is due) from the customer. The Company has a contract liability related to service revenue, which consists of amounts that have been invoiced but that have not been recognized as revenue. Amounts expected to be recognized as revenue within 12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as noncurrent deferred revenue. The Company did not record any non-current deferred revenue as of September 30, 2022 or December 31, 2021. Deferred revenue was $3.4 million and $3.3 million at September 30, 2022 and December 31, 2021, respectively. Revenue recognized during the three months ended September 30, 2022 and 2021 that was included in deferred revenue at the prior period-end was $0.5 million and $0.7 million, respectively. Revenue recognized during the nine months ended September 30, 2022 and 2021 that was included in deferred revenue at the prior period-end was $2.3 million and $3.6 million, respectively.

Non-commercial revenue

The Company has historically generated revenue from a long-term contract with the U.S. Department of Health and Human Services Biomedical Advanced Research and Development Authority (“BARDA”) a part of the U.S. government. The Company’s contracts with the U.S. government are typically subject to the Federal Acquisition Regulation (“FAR”) and are priced based on estimated or actual costs of producing goods or providing services. The FAR provides guidance on the types of costs that are allowable in establishing prices for goods or services provided under U.S. government contracts. In September 2017, the Company signed a contract with BARDA, which was subsequently modified on multiple occasions to increase the contract value and adjust the cost share reimbursement rate. Modifications were accounted for in accordance with the contract modification framework. The contract is a cost-reimbursable, cost-sharing arrangement, whereby BARDA reimburses the Company for a percentage of the total costs that have been incurred including indirect allowable costs. All funding under this contract was fully earned by the fourth quarter of 2021.

Disaggregated revenue

The Company disaggregates revenue based on the recurring and non-recurring, and commercial and non-commercial, nature of the underlying sale. Recurring revenue includes sales of consumables and service contracts. Non-recurring revenue includes sales of Systems, LIMS connection software, validation services, field service, and revenue under the Company’s contract with BARDA. The following table presents the Company’s revenue by the recurring or non-recurring and commercial or non-commercial nature of the revenue stream (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Product and service revenue — recurring	$	2,908	$	2,171	$	8,066	$	5,539
Product and service revenue — non-recurring	1,831		4,132		4,693		11,243
Non-commercial revenue — non-recurring	—		596		—		1,242
Total revenue	$	4,739	$	6,899	$	12,759	$	18,024

The following table presents the Company’s revenue by customer geography (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
United States	$	2,091	$	4,313	$	6,452	$	10,086
Germany	1,413		298		2,238		1,263
Switzerland	608		899		2,096		2,989
All other countries	627		1,389		1,973		3,686
Total revenue	$	4,739	$	6,899	$	12,759	$	18,024

Advertising costs

Advertising costs are expensed as incurred and are included in sales and marketing expenses in the condensed consolidated statements of operations. Advertising costs were less than $0.1 million during the three and nine months ended September 30, 2022 and 2021.

Stock-based compensation

The Company measures all stock-based awards granted to employees, officers and directors based on their fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company issues stock-based awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. Forfeitures are accounted for prospectively as they occur.

The Company measures all restricted common stock and restricted stock units granted to employees based on the common stock value on the date of grant. The purchase price of the restricted common stock is the common stock value on the date of grant. The restricted common stock includes a repurchase right, whereas upon the occurrence of a specific

event, the Company shall have the right to repurchase unvested restricted common stock shares. At September 30, 2022 and December 31, 2021, the Company had $0.3 million and $0.5 million, respectively, in unvested restricted Class A common stock liability included in other current liabilities and other long-term liabilities, respectively.

Comprehensive loss

Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. For the three months ended September 30, 2022 and 2021, there were $0.5 million and zero, respectively, and for the nine months ended September 30, 2022 and 2021, there were $1.4 million and less than $0.1 million, respectively, of unrealized losses on short-term and long-term investments, net of tax, included in comprehensive loss.

Recently adopted accounting pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations related to their leasing arrangements. The update requires lessees to recognize most leases, with the exception of short-term leases if a policy election is made, on their balance sheets as a right-of-use ("ROU") asset representing the right to use an underlying asset and a lease liability representing the obligation to make lease payments over the lease term, measured on a discounted basis, while recognizing lease expense on their income statements in a manner similar to current GAAP. The guidance also requires entities to disclose key quantitative and qualitative information about its leasing arrangements.

The Company leases office and manufacturing space under operating lease agreements. The Company leases furniture under a financing agreement. The Company adopted Topic 842 on January 1, 2022 using the optional transition method to the modified retrospective approach. Under this transition provision, results for reporting periods beginning on January 1, 2022 are presented under Topic 842 while prior period amounts continue to be reported and disclosed in accordance with the Company’s historical accounting treatment under ASC Topic 840, Leases (“ASC 840”).

The Company elected the “package of practical expedients” permitted under the transition guidance, which among other things, does not require reassessment of whether contracts entered into prior to adoption are or contain leases, and allows carryforward of the historical lease classification for existing leases. The Company did not elect the “hindsight” practical expedient, and therefore measured the ROU assets and lease liabilities using the remaining portion of the lease term at adoption on January 1, 2022.

The Company made an accounting policy election not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. For all other leases, the Company recognizes ROU assets and lease liabilities based on the present value of lease payments over the lease term at the commencement date of the lease (or January 1, 2022 for existing leases upon the adoption of ASC 842). Lease payments may include fixed rent escalation clauses or payments that depend on an index (such as the consumer price index). Subsequent changes to an index and any other periodic market-rate adjustments to base rent are recorded in variable lease expense in the period incurred. The ROU assets also include any initial direct costs incurred and lease payments made at or before the commencement date and are reduced by any lease incentives.

The Company has made an accounting policy election to account for lease and non-lease components in its contracts as single lease components for all asset classes. The non-lease components typically represent additional services transferred to the Company, such as common area maintenance for real estate, which are variable in nature and recorded in variable lease expense in the period incurred.

The Company uses its incremental borrowing rate which is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term and amount in a similar economic environment to determine the present value of lease payments as the Company’s leases do not have a readily determinable implicit discount rate. Judgment is applied in assessing factors such as Company specific credit risk, lease term, nature, and quality of the underlying collateral, currency, and economic environment in determining the incremental borrowing rate to apply to each lease.

Upon adoption, the Company recorded operating lease ROU assets and lease liabilities of $6.0 million and $7.0 million, respectively, the difference relating to deferred rent. The Company recorded financing lease ROU assets and lease

liabilities of approximately $0.4 million. The adoption of the new lease standard on January 1, 2022 did not materially impact our condensed consolidated statements of operations, comprehensive loss or cash flows.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various areas related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. The Company adopted this guidance effective January 1, 2022, and the adoption had no material impact on its condensed consolidated financial statements and related disclosures.

Recently issued accounting pronouncements

The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected not to “opt out” of the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the newer revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016- 13”). The new standard adjusts the accounting for assets held at amortized costs basis, including marketable securities accounted for as available for sale, and trade receivables. The standard eliminates the probable initial recognition threshold and requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. The Company expects to adopt this guidance effective January 1, 2023, and it is currently evaluating the impact on its condensed consolidated financial statements and related disclosures.

Benefit plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Benefit plans (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Company contributions to plan	$ 0.2	$ 0.1	$ 0.6	$ 0.2

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Nature of the business and basis of presentation	9 Months Ended
Nature of the business and basis of presentation	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the business and basis of presentation	Nature of the business and basis of presentation Rapid Micro Biosystems, Inc. (the “Company”) was incorporated under the laws of the State of Delaware on December 29, 2006. The Company develops, manufactures, markets and sells Growth Direct systems (“Systems”) proprietary consumables, laboratory information management system (“LIMS”) connection software, and services to address rapid microbial analysis used for quality control in the manufacture of pharmaceuticals, medical devices and personal care products. The Company’s technology uses a highly sensitive camera and the natural auto fluorescence of living cells to identify and quantify microbial growth faster and more accurately than the traditional method, which relies on the human eye. The Company currently sells to customers in North America, Europe and Asia. The Company is headquartered in Lowell, Massachusetts. In March 2020, the World Health Organization declared the global novel coronavirus disease 2019 (“COVID-19”) outbreak a pandemic. The impact of this pandemic has been and may continue to be extensive in many aspects of society, which has resulted in and may continue to result in significant disruptions to the global economy, as well as businesses and capital markets around the world. The Company cannot at this time predict the ultimate extent, duration, or full impact that the COVID-19 pandemic will have on its future financial condition and operations. The impact of the ongoing COVID-19 pandemic on the Company’s financial performance will depend on future developments, including the duration and spread of the pandemic and related governmental advisories and restrictions. These developments and the impact of COVID-19, and its variants, on the financial markets and the overall economy are highly uncertain and cannot be predicted. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s results may be materially adversely affected. Future impacts to the Company’s business as a result of COVID-19, and its variants, could include disruptions to the Company’s manufacturing operations and supply chain caused by facility closures, reductions in operating hours, staggered shifts and other social distancing efforts; labor shortages; decreased productivity and unavailability of materials or components; limitations on its employees’ and customers’ ability to travel, and delays in shipments to and from affected countries and within the United States. While the Company maintains an inventory of finished products and raw materials used in its products, the effects of the ongoing COVID-19 pandemic could still lead to shortages in the raw materials necessary to manufacture its products. Basis of presentation These condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries in Germany and Switzerland. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements for the year ended December 31, 2021. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of September 30, 2022 and the results of its operations and its cash flows for the three and nine months ended September 30, 2022 and 2021. The financial data and other information disclosed in these notes related to the three and nine months ended September 30, 2022 and 2021 are also unaudited. The results for the three and nine months ended September 30, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period. Reclassification Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. Reverse split On July 9, 2021, the Company effected a one-for-five reverse stock split of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company’s Preferred Stock (see Note 10). Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this reverse stock split and adjustment of the Preferred Stock conversion ratios. Initial public offering On July 19, 2021, the Company closed an initial public offering (“IPO”) of its Class A common stock, which resulted in the sale of 7,920,000 shares of its Class A common stock at the initial public offering price of $20.00 per share, before underwriting discounts. The offering resulted in gross proceeds of $158.4 million and net proceeds to the Company of $143.8 million from the IPO after deducting underwriting discounts, commissions and offering expenses payable by the Company. On August 4, 2021, the underwriters exercised their overallotment option in part and purchased 1,086,604 shares of Class A common stock at the initial public offering price of $20.00 per share less underwriting discounts and commissions. The overallotment option exercise resulted in net proceeds of $20.2 million. Liquidity The Company has incurred recurring losses and net cash outflows from operations since its inception. The Company expects to continue to generate significant operating losses for the foreseeable future. The Company expects that its existing cash and cash equivalents and investments will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months following the date these unaudited interim condensed consolidated financial statements were issued.

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 13,118	$ 10,135
Work in process	645	1,235
Finished goods	7,161	4,301
Total	20,924	15,671
Inventory adjustments	$ 900	$ 1,200

Redeemable convertible preferred stock	9 Months Ended
Redeemable convertible preferred stock	Sep. 30, 2022
Temporary Equity [Abstract]
Redeemable convertible preferred stock	Redeemable convertible preferred stock The Company has historically issued Series A1 redeemable convertible preferred stock (the “Series A1 Preferred Stock”), Series B1 redeemable convertible preferred stock (the “Series B1 Preferred Stock”), Series C1 redeemable convertible preferred stock (the “Series C1 Preferred Stock”), Series C2 redeemable convertible preferred stock (the “Series C2 Preferred Stock”), Series D1 redeemable convertible preferred stock (the “Series D1 Preferred Stock”) and Series D2 redeemable convertible preferred stock (the “Series D2 Preferred Stock”). The Series A1 Preferred Stock, Series B1 Preferred Stock, Series C1 Preferred Stock, Series C2 Preferred Stock, Series D1 Preferred Stock, and Series D2 Preferred Stock are collectively referred to as the “Preferred Stock”. In March 2021, the Company issued and sold 22,086,725 shares of Series D1 Preferred Stock and 413,268 shares of Series D2 Preferred Stock to new and existing investors at a price of $3.60 per share for gross proceeds of $79.5 million and $1.5 million, respectively. The Company incurred issuance costs in connection with this transaction of $2.7 million and recorded them as a reduction to the carrying value of the Series D1 Preferred Stock and Series D2 Preferred Stock. On June 25, 2021, investors exchanged a total of 11,437,301 shares and 2,364,509 shares of Series C1 and D1 Preferred Stock to an equal number of shares of Series C2 and D2 Preferred Stock, respectively.On July 14, 2021, the IPO resulted in the automatic conversion of all Series A1, Series B1, Series C1 and Series D1 preferred stock into 24,200,920 shares of Class A common stock and of all Series C2 and Series D2 preferred stock into 6,903,379 shares of Class B common stock. On July 19, 2021, the Company restated its certificate of incorporation and authorized 10,000,000 shares of $0.01 par value Preferred Stock.

Nature of the business and basis of presentation (Details) $ / shares in Units, $ in Thousands				3 Months Ended	9 Months Ended
	Aug. 04, 2021 USD ($) $ / shares shares	Jul. 19, 2021 USD ($) $ / shares shares	Jul. 09, 2021	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Aug. 11, 2022
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Workforce reduction percentage							20.00%
Restructuring costs				$ 1,100
Gross proceeds from transaction					$ 0	$ 165,453
Reverse stock split ratio			0.2
IPO
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of shares sold (in shares) \| shares		7,920,000
Price per share of shares sold (in dollars per share) \| $ / shares		$ 20.00
Gross proceeds from transaction		$ 158,400
Net proceeds from transaction		$ 143,800
Over-Allotment Option
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of shares sold (in shares) \| shares	1,086,604
Price per share of shares sold (in dollars per share) \| $ / shares	$ 20.00
Net proceeds from transaction	$ 20,200

Inventory

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Raw materials	$	13,118	$	10,135
Work in process	645		1,235
Finished goods	7,161		4,301
Total	$	20,924	$	15,671

Raw materials, work in process and finished goods were net of adjustments to net realizable value of $0.9 million and $1.2 million as of September 30, 2022 and December 31, 2021, respectively.

Condensed consolidated statements of cash flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (44,359)	$ (58,919)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	1,977	1,079
Stock-based compensation expense	2,914	1,165
Change in fair value of preferred stock warrant liability	0	19,643
Provision recorded for inventory	219	44
Noncash lease expense	846
Noncash interest expense	0	390
Loss (gain) on disposal of property and equipment	19	(18)
Accretion on investments	(237)	(4)
Loss on extinguishment of debt	0	3,100
Other	(116)	0
Changes in operating assets and liabilities:
Accounts receivable	346	(18)
Inventory	(5,472)	(5,247)
Prepaid expenses and other current assets	(152)	(2,552)
Other long-term assets	69	(653)
Accounts payable	(275)	(2,216)
Accrued expenses and other current liabilities	(2,770)	2,646
Deferred revenue	99	(520)
Other long-term liabilities	0	3
Net cash used in operating activities	(46,892)	(42,077)
Cash flows from investing activities:
Purchases of property and equipment	(5,929)	(1,251)
Proceeds from sale of property and equipment	0	20
Purchases of investments	(155,340)	0
Maturity of investments	55,000	15,000
Net cash (used) provided by investing activities	(106,269)	13,769
Cash flows from financing activities:
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs	0	79,743
Proceeds from issuance of Class A common stock - stock option exercise	471	294
Proceeds from issuance of Class A common stock - employee stock purchase plan	159	0
Proceeds from issuance of restricted Class A stock award	0	523
Payments on finance lease obligations	(24)
Proceeds from initial public offering of Class A common stock, net of issuance costs	0	165,453
Proceeds from exercise of common stock warrants	0	13
Repayment of term loans	0	(26,159)
Payment of debt extinguishment fees	0	(1,866)
Net cash provided by financing activities	606	218,001
Net (decrease) increase in cash, cash equivalents and restricted cash	(152,555)	189,693
Cash, cash equivalents and restricted cash at beginning of period	178,671	30,179
Cash, cash equivalents and restricted cash at end of period	26,116	219,872
Supplemental disclosure of cash flow information
Cash paid for interest	32	1,891
Supplemental disclosure of non-cash investing activities
Establishment of property and equipment retirement cost asset	0	188
Establishment of right of use operating assets	7,605
Purchases of property and equipment in accounts payable	11	857
Supplemental disclosure of non-cash financing activities
Establishment of right of use finance assets	366
Assets acquired under capital lease		372
Offering costs included in accounts payable and accrued expenses	0	1,408
Conversion of preferred stock to common stock	0	235,766
Conversion of preferred stock warrants to common stock warrants	0	23,760
Accretion of redeemable convertible preferred stock to redemption value	0	1,761
Cumulative redeemable convertible preferred stock dividends	$ 0	$ 2,747

Condensed consolidated statements of stockholders' equity (Unaudited) - USD ($) $ in Thousands	Total	Series D1 redeemable convertible preferred stock	Series D2 redeemable convertible preferred stock	Common stock Class A Common stock	Common stock Class B Common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss
Common stock, balance at beginning of period (in shares) at Dec. 31, 2020				612,850,000	0
Balance at beginning of period at Dec. 31, 2020	$ (127,006)			$ 6	$ 0	$ 114,575	$ (241,588)	$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable convertible preferred stock to redemption value	(787)					(787)
Cumulative redeemable convertible preferred stock dividends	(1,411)					(1,411)
Issuance of Class A common stock upon exercise of common stock options (in shares)				67,418,000
Issuance of Class A common stock upon exercise of common stock options	67			$ 1		66
Issuance of restricted Class A common stock awards (in shares)				248,903,000
Issuance of restricted Class A common stock awards				$ 2		(2)
Stock-based compensation expense	191					191
Net loss	(22,101)						(22,101)
Common stock, balance at end of period (in shares) at Mar. 31, 2021				929,171,000	0
Balance at end of period at Mar. 31, 2021	$ (151,047)			$ 9	$ 0	112,632	(263,689)	1
Redeemable convertible preferred stock, balance at beginning of period (in shares) at Dec. 31, 2020	133,021,640,000
Balance at beginning of period at Dec. 31, 2020	$ 151,826
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of redeemable convertible preferred stock, net of issuance costs (in shares)		22,086,725,000	413,268,000
Issuance of redeemable convertible preferred stock, net of issuance costs		$ 78,338	$ 1,470
Issuance costs		(1,278)	(19)
Accretion of redeemable convertible preferred stock to redemption value	787
Cumulative redeemable convertible preferred stock dividends	$ 1,411
Redeemable convertible preferred stock, balance at end of period (in shares) at Mar. 31, 2021	155,521,633,000
Balance at end of period at Mar. 31, 2021	$ 233,832
Common stock, balance at beginning of period (in shares) at Dec. 31, 2020				612,850,000	0
Balance at beginning of period at Dec. 31, 2020	(127,006)			$ 6	$ 0	114,575	(241,588)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of preferred stock warrants to Class A common stock warrants	23,760
Net loss	(58,919)
Common stock, balance at end of period (in shares) at Sep. 30, 2021				34,449,154,000	6,903,379,000
Balance at end of period at Sep. 30, 2021	$ 234,745			$ 344	$ 69	534,839	(300,507)	0
Redeemable convertible preferred stock, balance at beginning of period (in shares) at Dec. 31, 2020	133,021,640,000
Balance at beginning of period at Dec. 31, 2020	$ 151,826
Redeemable convertible preferred stock, balance at end of period (in shares) at Sep. 30, 2021	0
Balance at end of period at Sep. 30, 2021	$ 0
Common stock, balance at beginning of period (in shares) at Mar. 31, 2021				929,171,000	0
Balance at beginning of period at Mar. 31, 2021	(151,047)			$ 9	$ 0	112,632	(263,689)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable convertible preferred stock to redemption value	(1,184)					(1,184)
Cumulative redeemable convertible preferred stock dividends	(885)					(885)
Issuance of Class A common stock upon exercise of common stock options (in shares)				37,146,000
Issuance of Class A common stock upon exercise of common stock options	32			$ 1		31
Stock-based compensation expense	390					390
Net loss	(11,831)						(11,831)
Other comprehensive income (loss)	(1)							(1)
Common stock, balance at end of period (in shares) at Jun. 30, 2021				966,317,000	0
Balance at end of period at Jun. 30, 2021	$ (164,526)			$ 10	$ 0	110,984	(275,520)	0
Redeemable convertible preferred stock, balance at beginning of period (in shares) at Mar. 31, 2021	155,521,633,000
Balance at beginning of period at Mar. 31, 2021	$ 233,832
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance costs		$ (64)	$ (1)
Accretion of redeemable convertible preferred stock to redemption value	1,184
Cumulative redeemable convertible preferred stock dividends	$ 885
Redeemable convertible preferred stock, balance at end of period (in shares) at Jun. 30, 2021	155,521,633,000
Balance at end of period at Jun. 30, 2021	$ 235,836
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of stock (in shares)				24,200,920,000	6,903,379,000
Conversion of stock	236,077			$ 242	$ 69	235,766
Restricted stock award liability accretion	5					5
Accretion of redeemable convertible preferred stock to redemption value	210					210
Cumulative redeemable convertible preferred stock dividends	(451)					(451)
Conversion of preferred stock warrants to Class A common stock warrants	23,760					23,760
Issuance of Class A common stock in initial public offering, net of issuance costs (in shares)				9,006,604,000
Issuance of Class A common stock in initial public offering, net of issuance costs	164,045			$ 90		163,955
Issuance of Class A common stock upon exercise of common stock warrants (in shares)				268,718,000
Issuance of Class A common stock upon exercise of common stock warrants	13			$ 2		11
Issuance of Class A common stock upon exercise of common stock options (in shares)				6,595,000
Issuance of Class A common stock upon exercise of common stock options	15			$ 0		15
Stock-based compensation expense	584					584
Net loss	(24,987)						(24,987)
Common stock, balance at end of period (in shares) at Sep. 30, 2021				34,449,154,000	6,903,379,000
Balance at end of period at Sep. 30, 2021	234,745			$ 344	$ 69	534,839	(300,507)	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion of redeemable convertible preferred stock to redemption value	(210)
Cumulative redeemable convertible preferred stock dividends	$ 451
Conversion of preferred stock to common stock (in shares)	(155,521,633,000)
Conversion of preferred stock to common stock	$ (236,077)
Redeemable convertible preferred stock, balance at end of period (in shares) at Sep. 30, 2021	0
Balance at end of period at Sep. 30, 2021	$ 0
Common stock, balance at beginning of period (in shares) at Dec. 31, 2021				34,564,040,000	6,903,379,000
Balance at beginning of period at Dec. 31, 2021	220,980			$ 346	$ 69	535,693	(315,112)	(16)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of stock (in shares)				1,350,000,000	1,350,000,000
Conversion of stock				$ 14	$ (14)
Restricted stock award liability accretion	154					154
Issuance of Class A common stock upon exercise of common stock options (in shares)				475,033,000
Issuance of Class A common stock upon exercise of common stock options	471			$ 5		466
Stock-based compensation expense	983					983
Net loss	(14,930)						(14,930)
Other comprehensive income (loss)	(588)							(588)
Common stock, balance at end of period (in shares) at Mar. 31, 2022				36,389,073,000	5,553,379,000
Balance at end of period at Mar. 31, 2022	207,070			$ 365	$ 55	537,296	(330,042)	(604)
Common stock, balance at beginning of period (in shares) at Dec. 31, 2021				34,564,040,000	6,903,379,000
Balance at beginning of period at Dec. 31, 2021	$ 220,980			$ 346	$ 69	535,693	(315,112)	(16)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of common stock options (in shares)	475,033
Net loss	$ (44,359)
Common stock, balance at end of period (in shares) at Sep. 30, 2022				36,440,906,000	5,553,379,000
Balance at end of period at Sep. 30, 2022	179,016			$ 365	$ 55	539,459	(359,471)	(1,392)
Common stock, balance at beginning of period (in shares) at Mar. 31, 2022				36,389,073,000	5,553,379,000
Balance at beginning of period at Mar. 31, 2022	207,070			$ 365	$ 55	537,296	(330,042)	(604)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock award liability accretion	44					44
Stock-based compensation expense	1,258					1,258
Net loss	(13,090)						(13,090)
Other comprehensive income (loss)	(315)							(315)
Common stock, balance at end of period (in shares) at Jun. 30, 2022				36,389,073,000	5,553,379,000
Balance at end of period at Jun. 30, 2022	194,967			$ 365	$ 55	538,598	(343,132)	(919)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock under ESPP (in shares)				51,833,000
Issuance of Class A common stock under ESPP	159					159
Restricted stock award liability accretion	29					29
Stock-based compensation expense	673					673
Net loss	(16,339)						(16,339)
Other comprehensive income (loss)	(473)							(473)
Common stock, balance at end of period (in shares) at Sep. 30, 2022				36,440,906,000	5,553,379,000
Balance at end of period at Sep. 30, 2022	$ 179,016			$ 365	$ 55	$ 539,459	$ (359,471)	$ (1,392)

Fair value of financial assets and liabilities

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities


	Fair value measurements as of September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	20,652	$	—	$	—	$	20,652
Short-term investments	89,062		—		—		89,062
Long-term investments	35,214		—		—		35,214
	$	144,928	$	—	$	—	$	144,928


	Fair value measurements at December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	173,755	$	—	$	—	$	173,755
Short-term investments	15,110		—		—		15,110
Long-term investments	9,966		—		—		9,966
	$	198,831	$	—	$	—	$	198,831

During the three and nine months ended September 30, 2022 and 2021, respectively, there were no transfers between Level 1, Level 2 and Level 3.

Valuation of short-term and long-term investments

Short-term and long-term investments, which consisted of U.S. Treasury bonds and notes and certificates of deposit, were valued by the Company using quoted prices in active markets for similar securities, which represents a Level 1 measurement within the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Long-term debt	9 Months Ended
Long-term debt	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-term debt	Long-term debt There was no long-term debt outstanding as of September 30, 2022 or December 31, 2021. Term loan agreements 2020 Term Loan In May 2020, the Company entered into a $60.0 million term loan facility with a new lender (the “2020 Term Loan”), which provided for borrowings of an initial $25.0 million tranche upon closing and options to borrow up to an aggregate of $35.0 million in two additional tranches of $20.0 million under the second tranche (the “Term B Loan”) and $15.0 million under the third tranche (the “Term C Loan”). At closing, the Company issued warrants to purchase 1,195,652 shares of Series C1 Preferred Stock to the lender with an exercise price of $1.15 per share which were accounted for as debt discount. The Company paid a $0.8 million facility fee in connection with the term loan facility. The Company allocated the $0.8 million term loan facility fee to the three loan tranches on a pro-rata basis based on the amount available to be drawn down under each tranche. The Company allocated $0.3 million to the initial draw which was recorded within debt issuance cost as an offset to the carrying value of the 2020 Term Loan and amortized over the term of the loan within interest expense on the condensed consolidated statement of operations. Additionally, the Company allocated $0.3 million to the Term B Loan and $0.2 million to the Term C Loan, all of which was recorded within prepaid expenses and other current assets on the consolidated balance sheet and is being amortized on a straight-line basis over the debt access period within interest expense on the consolidated statement of operations. The Company incurred debt issuance costs of $1.5 million in connection with the 2020 Term Loan including $0.9 million of professional fees and $0.6 million for the fair value of the warrants issued with the debt. Interest expense on the 2020 Term Loan totaled $0.7 million and $2.5 million for three and nine months ended September 30, 2021, respectively, which included amortization of the debt discount of $0.1 million and $0.3 million for the three and nine months ended September 30, 2021, respectively. In September 2021, the Company repaid the 2020 Term Loan and incurred a debt extinguishment loss of $3.1 million, which was comprised of a $1.8 million prepayment penalty, $1.1 million expense related to unamortized discounts, and $0.2 million in unamortized prepaid facility fees and other charges.

Stock-based compensation - Schedule of Black-Scholes Option-Pricing Model (Details) - 2021 Plan - Share-Based Payment Arrangement, Option	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation
Risk-free interest rate	3.20%	1.00%	2.10%	0.90%
Expected term (in years)	6 years 1 month 6 days	5 years 9 months 18 days	6 years	6 years
Expected volatility	44.40%	43.70%	43.20%	51.50%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%

Net loss per share - Schedule of Anti-Dilutive Shares Excluded from Computation of Diluted Net Let per Share (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	6,213,991	5,067,172
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	5,242,448	4,772,207
Unvested restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	677,112	0
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	286,324	294,965
Options to purchase common stock under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares excluded from computation of diluted net loss per share attributable to common stockholders (in shares)	8,107	0

Prepaid expenses and other current assets (Tables)

9 Months Ended

Sep. 30, 2022

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	September 30,		December 31,
	2022		2021
Prepaid insurance	$	2,112	$	1,622
Contract asset	56		396
Deposits	1,207		1,262
Lease receivables, current portion	—		231
Other	726		440
	$	4,101	$	3,951

Condensed consolidated statements of comprehensive loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (16,339,000)	$ (24,987,000)	$ (44,359,000)	$ (58,919,000)
Other comprehensive income:
Unrealized loss on short-term investments, net of tax	(473,000)	0	(1,376,000)	(1,000)
Comprehensive loss	$ (16,812,000)	$ (24,987,000)	$ (45,735,000)	$ (58,920,000)

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	May 31, 2022	Mar. 31, 2022
Operating Leases:
Right-of-use assets, net, operating	$ 6,969	$ 700	$ 1,200
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets, net
Accrued expenses and other current liabilities	$ 711
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, short-term
Operating lease liabilities	$ 7,154
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, long-term
Total operating lease liabilities	$ 7,865	$ 700	$ 1,300
Financing Leases:
Office furniture and fixtures	386
Accumulated depreciation	(57)
Net property, plant and equipment	$ 329
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets, net
Current portion of long-term debt	$ 36
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, short-term
Long-term debt	$ 313
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, long-term
Total financing lease liabilities	$ 349
Weighted-average remaining lease term - operating leases (in years):	6 years 9 months 14 days
Weighted-average remaining lease term - financing leases (in years):	6 years 9 months
Weighted-average discount rate - operating leases:	3.70%
Weighted-average discount rate - financing leases:	12.00%

Preferred stock warrants (Tables)

9 Months Ended

Sep. 30, 2022

Preferred stock warrants

Schedule of Unobservable Inputs of Preferred Stock Warrant Liability

The table below quantifies the weighted average of the unobservable inputs used to fair value the preferred stock warrant liability prior to their conversion into common stock warrants:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2021
Fair value of Series A1 preferred stock	$	4.00	$	3.01
Fair value of Series B1 preferred stock	$	4.00	$	3.26
Fair value of Series C1 preferred stock	$	4.00	$	3.30
Remaining contractual term (in years)	6.6		6.8
Risk-free interest rate	1.0 %		1.2 %
Expected dividend yield	— %		— %
Expected volatility	42.2 %		42.0 %

Schedule of Fair Values of Preferred Stock Warrant Liability


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2021
Balance, beginning of period	$	15,600	$	4,117
Change in fair value of preferred stock warrants	8,160		19,643
Conversion of preferred stock warrants to common stock warrants	(23,760)		(23,760)
Balance, end of period	$	—	$	—