0001380106-23-000016 | 10-K | XBRL Viewer | Rapid Micro Biosystems INC

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2022	Mar. 07, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
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 valueper share
Trading Symbol	RPID
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 24,145,209
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement relating to its 2023 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of the fiscal year ended December 31, 2022 are incorporated herein by reference in Part III.
Entity Central Index Key	0001380106
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		36,635,108
Class B Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		5,553,379

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	238

Consolidated balance sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 27,064,000	$ 178,387,000
Short-term investments	81,584,000	15,110,000
Accounts receivable	5,369,000	5,005,000
Inventory	21,187,000	15,671,000
Prepaid expenses and other current assets	3,372,000	3,951,000
Total current assets	138,576,000	218,124,000
Property and equipment, net	13,818,000	11,304,000
Right-of-use assets	7,063,000
Long-term investments	29,790,000	9,966,000
Other long-term assets	1,119,000	1,491,000
Restricted cash	284,000	284,000
Total assets	190,650,000	241,169,000
Current liabilities:
Accounts payable	5,428,000	3,944,000
Accrued expenses and other current liabilities	8,150,000	10,917,000
Deferred revenue	4,706,000	3,305,000
Lease liabilities, short-term	766,000
Total current liabilities	19,050,000	18,166,000
Deferred rent, long-term		813,000
Lease liabilities, long-term	7,202,000
Other long-term liabilities	229,000	1,210,000
Total liabilities	26,481,000	20,189,000
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock	0	0
Additional paid-in capital	540,775,000	535,693,000
Accumulated deficit	(375,918,000)	(315,112,000)
Accumulated other comprehensive loss	(1,109,000)	(16,000)
Total stockholders’ equity	164,169,000	220,980,000
Total liabilities and stockholders’ equity	190,650,000	241,169,000
Class A Common stock
Stockholders’ equity:
Common stock	366,000	346,000
Class B Common stock
Stockholders’ equity:
Common stock	$ 55,000	$ 69,000

Consolidated balance sheets (Parentheticals) - $ / shares	Dec. 31, 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)	36,538,805	34,564,040
Common stock, outstanding (in shares)	36,538,805	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

Consolidated statements of operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Total revenue	$ 17,133	$ 23,232
Costs and operating expenses:
Research and development	12,866	9,781
Sales and marketing	14,994	11,815
General and administrative	26,819	17,895
Total costs and operating expenses	80,352	70,464
Loss from operations	(63,219)	(47,232)
Other income (expense):
Interest income (expense), net	1,778	(2,608)
Change in fair value of preferred stock warrant liability	0	(19,643)
Loss on extinguishment of debt	0	(3,100)
Other income (expense), net	59	(850)
Total other income (expense), net	1,837	(26,201)
Loss before income taxes	(61,382)	(73,433)
Income tax (benefit) expense	(576)	91
Net loss	(60,806)	(73,524)
Accretion of redeemable convertible preferred stock to redemption value	0	(1,761)
Cumulative redeemable convertible preferred stock dividends	0	(2,747)
Net loss attributable to common stockholders - basic	(60,806)	(78,032)
Net loss attributable to common stockholders - diluted	$ (60,806)	$ (78,032)
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (1.43)	$ (3.94)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (1.43)	$ (3.94)
Weighted average common shares outstanding - basic (in shares)	42,454,403	19,783,539
Weighted average common shares outstanding - diluted (in shares)	42,454,403	19,783,539
Product
Revenue:
Total revenue	$ 11,056	$ 15,512
Costs and operating expenses:
Cost of revenue	18,477	23,434
Service
Revenue:
Total revenue	6,077	6,125
Costs and operating expenses:
Cost of revenue	7,196	5,922
Non-commercial
Revenue:
Total revenue	0	1,595
Costs and operating expenses:
Cost of revenue	$ 0	$ 1,617

Consolidated statements of comprehensive loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (60,806)	$ (73,524)
Other comprehensive loss:
Unrealized loss on investments, net of tax	(1,093)	(17)
Comprehensive loss	$ (61,899)	$ (73,541)

- Definition

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

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+ Details

Consolidated statements of stockholders' equity - 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 income (loss)
Common stock, balance at beginning of period (in shares) at Dec. 31, 2020				612,850	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	(1,761)					(1,761)
Cumulative redeemable convertible preferred stock dividends	(2,747)					(2,747)
Conversion of stock (in shares)				24,200,920	6,903,379
Conversion of stock	236,077			$ 242	$ 69	235,766
Conversion of preferred warrants to Class A common stock warrants	23,760					23,760
Issuance of Class A common stock in initial public offering, net of issuance (in shares)				9,006,604
Issuance of Class A common stock in initial public offering, net of issuance costs	164,100			$ 90		164,010
Restricted stock award liability accretion	19					19
Issuance of Class A common stock upon exercise of common stock warrants (in shares)				268,718
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)				226,043
Issuance of Class A common stock upon exercise of common stock options	223			$ 4		219
Issuance of Restricted Class A common stock awards (in shares)				248,905
Issuance of Restricted Class A common stock awards				$ 2		(2)
Stock-based compensation expense	1,843					1,843
Net income (loss)	(73,524)						(73,524)
Other comprehensive loss	(17)							(17)
Common stock, balance at end of period (in shares) at Dec. 31, 2021				34,564,040	6,903,379
Balance at end of period at Dec. 31, 2021	$ 220,980			$ 346	$ 69	535,693	(315,112)	(16)
Redeemable convertible preferred stock, balance at beginning of period (in shares) at Dec. 31, 2020	133,021,640
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	413,268
Issuance of redeemable convertible preferred stock, net of issuance costs		$ 78,274	$ 1,469
Accretion of redeemable convertible preferred stock to redemption value	1,761
Cumulative redeemable convertible preferred stock dividends	$ 2,747
Conversion of preferred stock to common stock (in shares)	(155,521,633)
Conversion of preferred stock to common stock	$ (236,077)
Redeemable convertible preferred stock, balance at end of period (in shares) at Dec. 31, 2021	0
Balance at end of period at Dec. 31, 2021	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of stock (in shares)				1,350,000	1,350,000
Conversion of stock				$ 14	$ (14)
Restricted stock award liability accretion	$ 342					342
Issuance of Class A common stock upon exercise of common stock options (In shares)	572,932			572,932
Issuance of Class A common stock upon exercise of common stock options	$ 568			$ 6		562
Issuance of Class A common stock under ESPP (in shares)				51,833
Issuance of Class A common stock under ESPP	159					159
Stock-based compensation expense	4,019					4,019
Net income (loss)	(60,806)						(60,806)
Other comprehensive loss	(1,093)							(1,093)
Common stock, balance at end of period (in shares) at Dec. 31, 2022				36,538,805	5,553,379
Balance at end of period at Dec. 31, 2022	$ 164,169			$ 366	$ 55	$ 540,775	$ (375,918)	$ (1,109)

Consolidated statements of stockholders' equity (Parenthetical)	12 Months Ended
	Dec. 31, 2021 USD ($)
Series D1 Redeemable Convertible Preferred Stock
Issuance costs	$ 1,278,000
Series D2 Redeemable Convertible Preferred Stock
Issuance costs	19,000
Class A Common stock
Issuance costs	$ 16,032,000

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (60,806)	$ (73,524)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	2,837	1,529
Stock-based compensation expense	4,019	1,843
Non-cash lease expense	1,143
Change in fair value of preferred stock warrant liability	0	19,643
Provision recorded for inventory	326	60
Noncash interest expense	0	390
Loss (gain) on disposal of property and equipment	28	(18)
Accretion on investments	(662)	(3)
Loss on extinguishment of debt	0	3,100
Other, net	(107)	14
Changes in operating assets and liabilities
Accounts receivable	(364)	(17)
Inventory	(5,843)	(6,766)
Prepaid expenses and other current assets	578	(1,105)
Other long-term assets	179	(851)
Accounts payable	1,484	(524)
Accrued expenses and other current liabilities	(2,760)	2,305
Deferred revenue	1,401	(1,117)
Deferred rent, long term	0	107
Other long-term liabilities	0	(30)
Net cash used in operating activities	(58,547)	(54,964)
Cash flows from investing activities:
Purchases of property and equipment	(6,740)	(3,217)
Proceeds from sale of property and equipment	0	20
Purchases of investments	(179,229)	(25,092)
Maturity of investments	92,500	15,000
Net cash used in investing activities	(93,469)	(13,289)
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	566	403
Proceeds from issuance of Class A common stock - employee stock purchase plan	160	0
Proceeds from issuance of restricted Class A stock award	0	523
Proceeds from initial public offering of Class A and Class B common stock, net of issuance costs	0	164,100
Proceeds from exercise of Class A common stock warrants	0	13
Payments on finance lease obligations	(33)
Payments on finance lease obligations		(12)
Repayment of term loans	0	(26,159)
Payment of debt extinguishment fees	0	(1,866)
Net cash provided by financing activities	693	216,745
Net (decrease) increase in cash, cash equivalents and restricted cash	(151,323)	148,492
Cash, cash equivalents and restricted cash at beginning of period	178,671	30,179
Cash, cash equivalents and restricted cash at end of period	27,348	178,671
Supplemental disclosure of cash flow information
Cash paid for interest	42	2,590
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	561	1,957
Supplemental disclosure of non-cash financing activities
Establishment of right of use finance assets	366
Assets acquired under capital lease		372
Conversion of preferred stock to Class A and Class B common stock	0	236,077
Conversion of preferred stock warrants to Class A 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

Nature of the business and basis of presentation	12 Months Ended
Nature of the business and basis of presentation	Dec. 31, 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. Basis of presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted 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. 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”). Reclassification Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. Reverse stock 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 a 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 initial public offering 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, 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 consolidated financial statements were issued.

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of significant accounting policies

Use of estimates

The preparation of the Company’s 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 consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, calculating the standalone selling price of products and services for revenue recognition, the valuation of inventory, and the valuation of stock-based awards. 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.

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 with financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on such accounts or any other-than-temporary losses with respect to its cash equivalents and investments and does not believe it is exposed to any 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:


	Year Ended December 31,
	2022		2021
Customer A	22.8	%	16.7	%
	22.8	%	16.7	%

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


	Year Ended December 31,
	2022		2021
Customer A	21.4	%	19.5	%
Customer B	16.7	%	*
Customer C	11.8	%	*
Customer D	*		12.6	%
Customer E	*		10.6	%
Customer F	*		10.0	%
	49.9	%	52.7	%

______________________________

*– less than 10%

The Company relies on third parties for the supply and manufacture of certain of its products as well as logistics. In instances where these parties fail to perform their obligations, the Company may be unable to find alternative suppliers to satisfactorily deliver its products to its customers on time, if at all, which could have a material adverse effect on the Company’s operating results, financial condition and cash flows and damage its customer relationships. There are no significant concentrations around a single third-party supplier or manufacturer for the year ended December 31, 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 consolidated balance sheets and amortized as interest expense on the consolidated statement of operations using the effective interest method, which approximates the straight-line method. As of December 31, 2022 and 2021, the Company had no debt issuance costs on its consolidated balance sheets. During the year ended December 31, 2022 and 2021, the Company recorded zero and $0.4 million, respectively, in amortization of debt issuance costs within interest income (expense) in the consolidated statement 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 December 31, 2022 and 2021, the Company held cash of $0.2 million and $0.3 million in banks located outside of the U.S., respectively.

Restricted cash

As of December 31, 2022 and 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 landlords 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 sheet.

Investments

The Company’s short-term and long-term investments are classified as available-for-sale and recorded at fair value based upon market prices at period end. Unrealized gains and losses are recorded in accumulated other comprehensive income as a separate component of stockholders’ equity. Realized gains and losses and declines in value of investments determined to be other than temporary are included as a component of interest income (expense), net in the consolidated statement of operations. The costs of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method.

The Company evaluates its short-term and long-term investments with unrealized losses for other-than-temporary impairment. When assessing investments for other-than-temporary declines in value, the Company considers such factors as, among other things, how significant the decline in value is as a percentage of the original cost, how long the market value of the investment has been less than its original cost, the Company’s ability and intent to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. If any adjustment to fair value reflects a decline in the value of the investment that the Company considers to be other-than-temporary, the Company reduces the investment to fair value through a charge to the consolidated statement of operations. No such adjustments were necessary during the periods presented.

The Company’s short-term investments as of December 31, 2022 and 2021 had maturities of less than one year, and long-term investments as of December 31, 2022 and 2021 had maturities greater than one year.

Accounts receivable

Accounts receivable are customer obligations that are unconditional. Accounts receivable are presented net of an allowance for doubtful accounts, which represents an estimate of amounts that may not be collectible. The Company performs ongoing credit evaluations of its customers and, if necessary, provides an allowance for doubtful accounts and expected losses. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues collection of the receivable. The Company does not have any off-balance-sheet credit exposure related to customers. As of December 31, 2022 and 2021, the Company recorded zero allowance for doubtful accounts. Additionally, for the years ended December 31, 2022 and 2021, the Company recorded zero provision for bad debts or recoveries.

Inventory

Inventory is valued at the lower of cost or net realizable value. Cost is computed using the first-in, first-out method. The Company regularly reviews inventory quantities on-hand for excess and obsolete inventory and, when circumstances indicate, records charges to write down inventories to their estimated net realizable value, after evaluating historical sales, future demand, market conditions and expected product life cycles. Such charges are classified as cost of product revenue in the consolidated statements of operations. Any write-down of inventory to net realizable value creates a new cost basis.

Property and equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expense is recognized using the straight-line method over the estimated useful life of each asset, as follows:


			Estimated Useful Life
Manufacturing and laboratory equipment			5-10 years
Computer hardware and software			3 years
Office furniture and fixtures			5-7 years
Leasehold improvements			Shorter of remaining life of lease or useful life

Estimated useful lives are periodically assessed to determine if changes are appropriate. Maintenance and repairs are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost of these assets and related accumulated depreciation or amortization are eliminated from the consolidated balance sheet and any resulting gains or losses are included in the consolidated statement of operations in the period of disposal. Costs for capital assets not yet placed into service are capitalized as construction-in-progress and depreciated once placed into service.

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. There was $1.4 million and $1.3 million of software development costs capitalized in other long-term assets at December 31, 2022 and 2021, respectively, net of accumulated amortization of $0.4 million and $0.1 million, respectively. The capitalized costs are being amortized on a straight-line basis over the initial subscription term of five years. There was $0.3 million and $0.1 million of amortization expense recorded in the consolidated statement of operations for the years ended December 31, 2022 and 2021.

Impairment of long-lived assets

Long-lived assets consist of property and equipment. Long-lived assets to be held and used are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset group for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset group to its carrying value. An impairment loss would be recognized in loss from operations when estimated undiscounted future cash flows expected to result from the use of an asset group are less than its carrying amount. The impairment loss is based on the excess of the carrying value of the impaired asset group over its fair value, determined based on discounted cash flows. The Company did not record any impairment losses on long-lived assets during the years ended December 31, 2022 or 2021.

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, investments, and its redeemable convertible preferred stock warrant liability 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. Product warranties provide assurance that the Company’s product functions in accordance with standard specifications. Warranties cover for repairs and replacements when the product does not function in accordance with agreed specifications. The standard assurance warranty does not cover, and no warranty is provided for, parts which by their nature are normally required to be replaced periodically. The accrued warranty cost is based on estimated material, labor and other costs that the Company expects to incur to fulfill the warranty obligation. Estimates are primarily based on historical information, current cost data and future forecasts. The Company periodically assesses the adequacy of the warranty accrual and adjusts the amount as necessary. If the historical data used to calculate the adequacy of the warranty accrual are not indicative of future requirements, additional or reduced warranty accrual may be required. The warranty accrual is included in accrued expenses and other current liabilities in the consolidated balance sheets. The following table presents a summary of changes in the amount reserved for warranty cost (in thousands):


	Year Ended December 31,
	2022		2021
Balance, beginning of the period	$	598	$	637
Warranty provisions	646		—
Warranty repairs	(372)		(39)
Balance, end of the year	$	872	$	598

Classification and accretion of redeemable convertible preferred stock

Prior to the IPO and the conversion of redeemable convertible preferred stock to Class A and Class B common stock, the Company had classified redeemable convertible preferred stock outside of stockholders’ equity because the shares contained certain redemption features that were not solely within the control of the Company. Costs incurred in connection with the issuance of each series of redeemable convertible preferred stock was recorded as a reduction of gross proceeds from issuance. The Company recorded periodic accretion to the carrying values of its outstanding redeemable convertible preferred stock such that the carrying value of the redeemable convertible preferred stock would have been equal to the redemption value at the earliest date of redemption. Adjustments to the carrying values of the redeemable convertible preferred stock to record this accretion at each reporting date were considered deemed dividends, which adjusted retained earnings (or in the absence of retained earnings, additional paid-in capital) and increased or decreased net loss attributable to common stockholders in computing basic and diluted earnings per share.

Preferred stock warrant liability

Prior to the IPO and the conversion of redeemable convertible preferred stock warrant liabilities to Class A common stock warrants, the Company classified warrants for the purchase of shares of its redeemable convertible preferred stock (see Notes 3 and 10) as a liability on its consolidated balance sheets as these warrants were freestanding financial instruments that may have required the Company to transfer assets upon exercise. The warrant liability was initially recorded at fair value on the issuance date of each warrant and was subsequently remeasured to fair value at each reporting date using the Black-Scholes pricing model. Changes in the fair value of the warrant liability were recognized as a component of other income (expense) in the consolidated statements of operations. Changes in the fair value of the preferred stock warrant liability were recognized up until the warrants qualified for equity classification upon IPO.

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

Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In order to achieve this core principle, the Company applies the following five steps when recording revenue:

(1) identify the contract, or contracts, with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when, or as, performance obligations are satisfied.

The Company derives revenue from the sale of its products and services through direct sales representatives and distributors. The Company’s arrangements are generally noncancelable and nonrefundable after ownership passes to the customer or distributor.

Product revenue

The Company derives product revenue primarily from the sale of its systems, optional LIMS connection software, which facilitates the transfer of data captured by the system to the customer’s existing LIMS software, and proprietary consumables. Revenue is recognized when control of the products is transferred to the customer.

Transfer of control is generally at shipment or delivery, depending on contractual terms, and occurs when title and risk of loss transfers to the customer, which represents the point in time when the customer obtains the use of and substantially all of the benefits of the product. Upon delivery, the System is fully functional for use by the customer. As such, the Company’s performance obligation related to product sales is satisfied at a point in time. The Company’s principal terms of sale are free carrier shipping point.

Service revenue

The Company derives service revenue primarily from validation services, service contracts and field service (including installation). The Company’s validation services include validation and documentation services performed utilizing systems purchased by the customer. Service contracts are around-the-clock maintenance support which can be purchased by the customer after the expiration of the one-year assurance warranty included with each system purchase. Field service revenue primarily consists of services provided by field service engineers to install the system at the customer site and perform two preventative maintenance services during the warranty period. Service revenue is recognized over time using an input method based on time lapsed for service contracts and output method based on milestone achieved for validation services and field service.

Performance obligations

A performance obligation is a promise in a contract to transfer a distinct product or service to a customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available, and are distinct in the context of the contract, whereby the transfer of the product or service is separately identifiable from other promises in the contract. The Company’s main performance obligations in customer arrangements are systems, LIMS connection software, consumables, validation services, service contracts, and field service.

Payment terms

Payment terms for customer orders are typically between 30 to 90 days after the shipment or delivery of the product. For certain products, services and customer types, the Company requires payment before the products or services are delivered to, or performed for, the customer. None of the Company’s contracts contain a significant financing component.

Multiple performance obligations with an arrangement

The Company’s contracts may include multiple performance obligations when customers purchase a combination of products and services such as system sold together with the LIMS connection software, consumables or services. For these arrangements, the Company allocates the contract’s transaction price to each performance obligation on a relative standalone selling price basis using the Company’s best estimate of the standalone selling price of each distinct product or service in the contract. The primary methods used to estimate standalone selling prices are based on the prices observed in standalone sales to customers or cost-plus margin depending on the nature of the obligation and available evidence of fair value. Allocation of the transaction price is determined at contract’s inception.

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 December 31, 2022 and 2021, respectively, included in prepaid expenses and other current assets. These balances relate to unbilled amounts with commercial customers as well as an amount in the prior year related to the BARDA agreement.

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 December 31, 2022 or 2021. Deferred revenue was $4.7 million and $3.3 million at December 31, 2022 and 2021, respectively. Revenue recognized during the year ended December 31, 2022 that was included in deferred revenue at the prior year-end was $2.7 million. Revenue recognized during the year ended December 31, 2021 that was included in deferred revenue at the prior year-end was $3.8 million.

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. However, the Company is now in the process of closing out its BARDA contract, which includes a true-up of actual reimbursable costs to those previously billed at provisional rates for each year of performance. Any true-up will be recognized as non-commercial revenue once finalized.

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):


	Year Ended December 31,
	2022		2021
Product and service revenue — recurring	$	10,983	$	7,819
Product and service revenue — non-recurring	6,150		13,818
Non-commercial revenue — non-recurring	—		1,595
Total revenue	$	17,133	$	23,232

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


	Year Ended December 31,
	2022		2021
United States	$	8,767	$	12,892
Germany	2,649		1,695
Switzerland	2,756		4,314
All other countries	2,961		4,331
Total revenue	$	17,133	$	23,232

Contract acquisition costs

The Company incurs and pays commissions on systems, LIMS connection software, validation services, consumables, and service contracts. The period of the related revenue stream is typically less than one year in duration, and as such, the Company applies the practical expedient to expense the costs in the period in which they were incurred. The Company does not pay commissions on non-commercial revenue with BARDA.

Cost of revenue

Cost of product revenue primarily consists of costs for raw material parts and associated freight, shipping and handling costs, royalties, contract manufacturer costs, salaries and other personnel costs including stock-based compensation expense, depreciation and amortization expense, scrap, warranty cost, inventory reserves, allocated information technology and facility-related costs, overhead and other costs related to those sales recognized as product revenue in the period. Cost of service revenue primarily consists of salaries and other personnel costs including stock-based compensation expense, travel costs, materials consumed when performing installations, validations and other services, allocated information technology and facility-related costs, costs associated with training and other expenses related to service revenue recognized in the period. Cost of non-commercial revenue primarily consists of salaries and other personnel costs including stock-based compensation expense, consulting expense, materials, travel and other costs related to revenue recognized as non-commercial revenue during the period.

Shipping and handling fees

Shipping and handling fees billed to customers for product shipments are recorded in product revenue in the consolidated statements of operations. Shipping and handling costs incurred for inventory purchases and product shipments are recorded in cost of product revenue in the consolidated statements of operations.

Research and development costs

Research and development costs are expensed as incurred. Research and development expenses consist of costs incurred in performing research and development activities including, employee-related expenses, such as salaries, bonuses and other personnel costs including stock-based compensation expense, the cost of developing maintaining and improving new and existing products designs, the cost of hardware and software engineering, the cost of research materials and supplies, external costs of outside consultants engaged to conduct research and development services associated with the Company’s technology and products, and information technology and facilities expenses, which include direct and allocated expenses for rent, maintenance of facilities and insurance, as well as related depreciation and amortization. The costs incurred for the development of system software that will be sold are capitalized when technological feasibility has been established. The Company has continued to develop the software associated with its platform and products, and the associated costs have been expensed as incurred, when the nature of improvements did not significantly improve the performance or functionality of the software.

Advertising costs

Advertising costs are expensed as incurred and are included in sales and marketing expenses in the consolidated statements of operations. Advertising costs were $0.1 million during both of the years ended December 31, 2022 and 2021.

Patent costs

All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditures. Amounts incurred are classified within general and administrative expense in the consolidated statement of operations.

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 as they occur. The Company has not issued any stock-based awards with performance-based vesting conditions.

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 Company classifies stock-based compensation expense in its consolidated statement of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified.

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model, which uses the following inputs: (i) the fair value per share of the common stock issuable upon exercise of the option, (ii) the expected term of the option, (iii) expected volatility of the price of the common stock, (iv) the risk-free interest rate, and (v) the expected dividend yield. The exercise price of the option cannot be less than the fair market value of a share of common stock on the date of grant. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla”. The Company historically has been a private company and lacks company-specific historical and implied volatility information for its stock. Therefore, the Company estimates its expected stock price volatility based on the historical volatility of publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact

that the Company has never paid cash dividends on its common stock and does not expect to pay any cash dividends in the foreseeable future.

Income taxes

The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the consolidated financial statements or in the Company’s tax returns. Deferred tax assets and liabilities are determined on the basis of the differences between the consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that it is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. Potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies.

The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the consolidated financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties.

Foreign currency translation and transactions

The Company has determined that the functional and reporting currency for its operations in Germany and Switzerland is the U.S. Dollar. Gains and losses arising from currency exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in other income (expense), net.

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 years ended December 31, 2022 and 2021, comprehensive loss included $1.1 million and less than $0.1 million, respectively, of unrealized gains and losses on investments, net of tax.

Net loss per share attributable to common stockholders

The Company follows the two-class method when computing net loss per share as the Company has issued shares that meet the definition of participating securities. The two-class method determines net loss per share for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed.

Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net loss attributable to common stockholders is computed by adjusting net loss attributable to common stockholders to reallocate undistributed earnings based on the potential impact of dilutive securities. Diluted net loss per share attributable to common stockholders is computed by dividing the diluted net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, including potential dilutive common shares. For purpose of this calculation, outstanding stock options, shares expected to be purchased under the employee stock purchase plan, unvested restricted stock units, and warrants to purchase common stock are considered potential dilutive common shares.

In periods in which the Company reports a net loss attributable to common stockholders diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. The Company reported a net

loss attributable to common stockholders for the years ended December 31, 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.

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.

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 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 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 new standard will be effective for the Company beginning January 1, 2023. The FASB subsequently issued other related ASUs that amend ASU No. 2016-13 to provide clarification and additional guidance. The Company evaluated the impact of the new standard concluding that it will not have a material impact on its consolidated financial statements.

Fair value of financial assets and liabilities

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

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 December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	22,072	$	—	$	—	$	22,072
Short-term investments	81,093		491		—		81,584
Long-term investments	26,431		3,359		—		29,790
	$	129,596	$	3,850	$	—	$	133,446


	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 years ended December 31, 2022 and 2021, respectively, there were no transfers between Level 1, Level 2 and Level 3.

Valuation of short-term and long-term investments

U.S. Treasury bills and notes included in short-term and long-term investments were valued by the Company using quoted prices in active markets for identical securities, which represents a Level 1 measurement within the fair value hierarchy. The Company's certificates of deposit included in short-term and long-term investments were valued using quoted prices for similar assets in active markets (or identical assets in inactive markets), which represent a Level 2 measurement within the fair value hierarchy. There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy during the years ended December 31, 2022 and 2021.

Valuation of preferred stock warrant liability

The warrant liability at December 31, 2021 was related to warrants (the “Warrants”) to purchase shares of the Company’s Series A1, B1, and C1 redeemable convertible preferred stock (see Note 11). 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.

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 performed a final fair value assessment of these warrants as of the date of its IPO which resulted in a charge of $8.2 million that was recorded within other income (expense) in the Company’s consolidated statement of operations. 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 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 in connection with the Company’s IPO in July 2021:



	Year Ended December 31, 2021
Fair value of Series A1 preferred stock	$	3.01
Fair value of Series B1 preferred stock	$	3.26
Fair value of Series C1 preferred stock	$	3.30
Remaining contractual term (in years)	6.8
Risk-free interest rate	1.2%
Expected dividend yield	—		%
Expected volatility	42.0%

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



	Year Ended December 31, 2021
Balance, beginning of period	$	4,117
Initial fair value of Series C1 preferred stock warrants	—
Change in fair value of preferred stock warrants	19,643
Conversion of preferred stock warrants to common stock warrants	(23,760)
Balance, end of period	$	—

- 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

Investments

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investments

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


	December 31, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Short-term investments
Certificates of Deposit	$	491	$	—	$	—	$	491
U.S. Government Treasury Bills	$	32,115	$	1	$	(40)	$	32,076
U.S. Government Treasury Notes	49,625				(608)		49,017
	$	82,231	$	1	$	(648)	$	81,584
Long-term Investments
Certificates of Deposit	3,391		4		(36)		3,359
U.S. Government Treasury Notes - Maturity Up To Two Years	26,861		1		(431)		26,431
	$	30,252	$	5	$	(467)	$	29,790


	December 31, 2021
Short-term investments	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
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

Inventory

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following (in thousands):


	December 31,		December 31,
	2022		2021
Raw materials	$	15,014	$	10,135
Work in process	1,599		1,235
Finished goods	4,574		4,301
Total	$	21,187	$	15,671

Raw materials, work in process and finished goods were net of adjustments to realizable value of $1.1 million and $1.2 million, as of December 31, 2022 and 2021, respectively.

Prepaid expenses and other current assets

12 Months Ended

Dec. 31, 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):


	December 31,		December 31,
	2022		2021
Prepaid insurance	$	1,500	$	1,622
Contract asset	112		396
Deposits	1,055		1,262
Lease receivables, current portion	—		231
Other	705		440
	$	3,372	$	3,951

Property and equipment, net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and equipment, net

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


	December 31,		December 31,
	2022		2021
Manufacturing and laboratory equipment	$	13,408	$	13,277
Computer hardware and software	1,651		1,742
Office furniture and fixtures	589		745
Leasehold improvements	8,260		3,012
Construction-in-process	1,712		4,313
	25,620		23,089
Less: Accumulated depreciation	(11,802)		(11,785)
	$	13,818	$	11,304

Depreciation and amortization expense related to property and equipment was $2.5 million and $1.5 million for the years ended December 31, 2022 and 2021, respectively. The Company had $2.3 million and less than $0.1 million of fully depreciated assets disposed of during the years ended December 31, 2022 and 2021, respectively.

Accrued expenses and other current liabilities

12 Months Ended

Dec. 31, 2022

Accrued Liabilities, Current [Abstract]

Accrued expenses and other current liabilities

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


	December 31,		December 31,
	2022		2021
Accrued employee compensation and benefits expense	$	3,217	$	3,569
Accrued vendor expenses	3,212		5,500
Accrued warranty expense	872		598
Deferred rent, current portion	—		131
Accrued taxes	329		781
Other	520		338
	$	8,150	$	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 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 $0.6 million during the year

ended December 31, 2022 related to the Restructuring Plan and had $0.5 recorded within accrued expenses as of December 31, 2022.

Long-term debt	12 Months Ended
Long-term debt	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-term debt	Long-term debt There was no long-term debt outstanding as of December 31, 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 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 $2.5 million for year ended December 31, 2021, which included amortization of the debt discount of $0.3 million. 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.

Redeemable convertible preferred stock	12 Months Ended
Redeemable convertible preferred stock	Dec. 31, 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.

Preferred stock warrants	12 Months Ended
Preferred stock warrants	Dec. 31, 2022
Preferred stock warrants
Preferred stock warrants	Preferred stock warrantsIn 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. Prior to the IPO, 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).

Common stock and common stock warrants

12 Months Ended

Dec. 31, 2022

Common stock and common stock warrants

Common stock and common stock warrants

As of December 31, 2022 and 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 December 31, 2022, there were 36,538,805 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 December 31, 2022, no cash dividends had been declared or paid.

As of December 31, 2022, the Company had reserved 20,118,778 shares of Class A 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), for the exercise of outstanding common stock warrants and for 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 December 31, 2022 and 2021, warrants to purchase the Class A common stock outstanding consisted of the following:


	December 31, 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


	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

12 Months Ended

Dec. 31, 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”) provides 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 by 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 are forfeited or cancelled 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 of Class A common stock. 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 December 31, 2022, there were 4,179,239 shares available for issuance under the 2021 Plan.

The 2021 Plan is administered by the board of directors or, at the discretion of the board of directors, by a committee of the board of directors. The exercise prices, vesting and other restrictions are determined at the discretion of the board of directors, or its committee or management if so delegated, except that the exercise price per share of stock options may not be less than 100% of the fair market value of a share of common stock on the date of grant and the term of the stock option

may not be greater than ten years. Stock options granted to employees, officers, and consultants typically vest over a four-year period, and stock options granted to members of the board of directors typically vest over a three-year period.

During the years ended December 31, 2022 and 2021, the Company granted to employees, officers and directors options to purchase 1,708,293 shares and 2,011,479 shares, respectively, of common stock. The Company recorded stock-based compensation expense for options granted to employees, officers, and directors of $2.8 million and $1.8 million during the years ended December 31, 2022 and 2021, respectively.

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:


	Year Ended December 31,
	2022		2021
Risk-free interest rate	2.14	%	1.02	%
Expected term (in years)	6.0		6.0
Expected volatility	43.3	%	44.4	%
Expected dividend yield	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	1,708,293	7.11
Exercised	(572,932)	0.99
Expired	(71,521)	11.04
Forfeited	(845,632)	11.40
Outstanding as of December 31, 2022	5,041,308	$	5.05	7.55	$	532
Options vested and expected to vest as of December 31, 2022	5,041,308	$	5.05	7.55	$	532
Options exercisable as of December 31, 2022	2,745,821	$	3.38	6.58	$	393

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 common stock for those options that had exercise prices lower than the fair value of the Company’s common stock.

The intrinsic value of stock options exercised during the years ended December 31, 2022 and 2021 was $2.9 million and $1.6 million, respectively.

The weighted average grant-date fair value per share of stock options granted during the years ended December 31, 2022 and 2021 was $3.13 and $4.89, 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. The restricted common stock is no longer vesting due to the employees termination, and the Company expect to settle the restricted common stock in accordance with contractual provisions. At December 31, 2022 and December 31, 2021, the Company has $0.3 million and $0.5 million,

respectively, in unvested restricted common stock liability included in accrued expenses and other long-term liabilities, respectively.

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


	Number of shares	Weighted average fair value
		(in years)
Unvested as of December 31, 2021	248,903	$	2.10
Granted	—
Vested	(93,338)	$	2.10
Forfeited	—
Unvested as of December 31, 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 Company recorded stock-based compensation expense for restricted stock units granted to employees and officers of $1.0 million and zero during the years ended December 31, 2022 and 2021, respectively.

The following table summarizes restricted stock units granted to Company employees during the year ended December 31, 2022:


	Number of shares	Weighted average fair value

Unvested as of December 31, 2021	—
Granted	668,246	$	7.12
Vested	—
Forfeited	(136,125)	7.35
Unvested as of December 31, 2022	532,121	$	7.06

The weighted average grant-date fair value per share of restricted stock units granted during the year ended December 31, 2022 was $7.12. There were no restricted stock units granted during the year ended December 31, 2021.

Stock-based compensation

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


	Year Ended December 31,
	2022		2021
Cost of revenue	$	530	$	329
General and administrative	2,630		1,025
Sales and marketing	475		346
Research and development	384		143
Total stock-based compensation expense	$	4,019	$	1,843

As of December 31, 2022, total unrecognized compensation expense related to unvested stock options held by employees and directors was $6.8 million, which is expected to be recognized over weighted average period of 2.4 years.

Additionally, unrecognized compensation expense related to unvested restricted stock units held by employees and directors was $2.7 million, which is expected to be recognized over a weighted average period of 2.2 years.

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 year ended December 31, 2022, there were 51,833 shares of Class A common stock purchased under the 2021 ESPP. The Company recognized $0.1 million of expense related to the 2021 ESPP for the year ended December 31, 2022. As of December 31, 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 year ended December 31, 2022 (there were no offering periods for the year ended December 31, 2021):


	Year Ended December 31, 2022
Risk-free interest rate	2.60	%
Expected term (in years)	0.5
Expected volatility	49.1	%
Expected dividend yield	0	%

Income taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income taxes

The components of the Company’s loss before income tax (benefit) expense are as follows (in thousands):


	Year Ended December 31,
	2022		2021
United States	$	(61,396)	$	(73,643)
Foreign	14		$	210
Loss before income tax provision	$	(61,382)	$	(73,433)

The components of income tax (benefit) expense are as follows (in thousands):


	Year Ended December 31,
	2022		2021
Current income tax provision:
Federal	$	—	$	—
State	—		—
Foreign	(576)		91
Total current income tax (benefit) expense	(576)		91
Deferred income tax provision:
Federal	(13,347)		17,099
State	(2,824)		2,923
Foreign	—		—
Total deferred income tax provision	(16,171)		20,022
Change in deferred tax asset valuation allowance	16,171		(20,022)
Total (benefit) expense for income taxes	$	(576)	$	91

During the years ended December 31, 2022 and 2021, the Company did not record income tax benefits for the net operating losses incurred or for the research and development tax credits generated in each year, due to its uncertainty of realizing a benefit from those items. The only income tax provision was generated from operations in Germany and Switzerland. A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:


	Year Ended December 31,
	2022		2021
Federal statutory income tax rate	21.0	%	21.0	%
State income taxes, net of federal benefit	3.6		(3.1)
Federal and state research and development tax credits	0.6		0.5
Unrecognized tax benefits reserve and interest change	1.0		(0.1)
Change in valuation allowance	(25.3)		26.4
Permanent differences	0.1		(0.5)
Section 382/383 limitation	—		(38.7)
Unrealized gain (loss) on value of warrants	—		(5.6)
Effective income tax rate	1.0	%	(0.1)	%

Net deferred tax assets consisted of the following (in thousands):


	December 31,		December 31,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	46,387	$	33,663
Research and development credit carryforwards	4,403		3,605
Research and development capitalized costs	6,119		4,041
Inventories	390		196
Lease liability	1,858		—
Accrued expenses	778		1,076
Unrealized loss	270		—
Other	712		139
Total deferred tax assets	60,917		42,720
Deferred tax liabilities:
Right-of-use assets	(1,644)		—
Depreciation	(340)		(229)
Total deferred tax liabilities	(1,984)		(229)
Valuation allowance	(58,933)		(42,491)
Net deferred tax assets	$	—	$	—

As of December 31, 2022, the Company had U.S. federal and state net operating loss (“NOL”) carryforwards of $189.3 million and 87.1 million respectively, which may be available to offset future taxable income and begin to expire at various dates beginning in 2038 and 2032, respectively. Additionally, the Company had federal NOLs of $176.6 million generated since 2018 that will not expire. The Tax Cuts and Jobs Act (TCJA) enacted on December 22, 2017 limits a taxpayer’s ability to utilize NOL deduction in a year to 80% taxable income for federal NOL arising in tax years beginning after 2017. The Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted on March 27, 2020 removes the 80% taxable income limitation for federal NOL deductions in taxable years beginning prior to January 1, 2021.

As of December 31, 2022, the Company also had U.S. federal and state research and development tax credit carryforwards of $1.5 million and $2.9 million, respectively, which may be available to offset future tax liabilities and begin to expire in 2038 and 2024, respectively.

Utilization of the U.S. federal and state NOL carryforwards and research and development tax credit carryforwards may be subject to a substantial annual limitation under Sections 382 and 383 of the Internal Revenue Code of 1986, and corresponding provisions of state law, due to ownership changes that have occurred previously or that could occur in the future. These ownership changes may limit the amount of carryforwards that can be utilized annually to offset future taxable income or tax liabilities. In general, an ownership change, as defined by Section 382, results from transactions increasing the ownership of certain stockholders or public groups in the stock of a corporation by more than 50% over a three-year period. The Company has completed a Section 382 study through July 31, 2020 to assess whether one or multiple ownership changes(s) occurred. According to the results from the study, the Company has four ownership changes which occurred on July 1, 2009, April 3, 2014, July 25, 2017, and April 12, 2018, as defined by Section 382. These ownership changes materially limit the NOL carryforwards and research and development tax credits available to offset future tax liabilities. The Section 382 study concluded that $121.5 million of federal NOL carryforwards, $58.4 million of state NOL carryforwards, and $2.4 million of federal research and development tax credits will expire unutilized from these ownership changes. These expirations and unutilized NOL carryforwards and research and development tax credits have been reflected in the amounts of NOL carryforwards, research and development tax credits, and deferred tax assets disclosed above. The Company has not completed a Section 382 study for post July 31, 2020 transactions which could create an additional limitation although materially all of the current federal NOL carryforwards can be carried forward indefinitely.

The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. The Company considered its history of cumulative net operating losses incurred since inception and has concluded that it is more likely than not that the Company will not realize the benefits of the deferred tax assets. Accordingly, a full

valuation allowance has been established against the net deferred tax assets as of as of December 31, 2022 and 2021. The Company reevaluates the positive and negative evidence at each reporting period.

Changes in the valuation allowance for deferred tax assets relates primarily to the decrease in NOL carryforwards and research and development tax credit carryforwards and were as follows (in thousands):


	December 31,		December 31,
	2022		2021
Valuation allowance as of beginning of year	$	42,491	$	62,513
Increases recorded to income tax provision	17,726		13,067
Decreases recorded as a benefit to income tax provision	(1,284)		(33,089)
Valuation allowance as of end of year	$	58,933	$	42,491

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


	December 31,		December 31,
	2022		2021
Unrecognized tax benefits as of beginning of year	$	623	$	569
Additions for tax positions of prior years	—		54
Reductions for tax positions of prior years	(623)		—
Unrecognized tax benefits as of end of year	$	—	$	623

The Company recognizes interest and penalties related to unrecognized tax benefits in U.S. Federal, state, and foreign income tax expense. For the each of years ended December 31, 2022, and 2021, the Company recognized less than $0.1 million in interest and penalties. The Company had approximately $0.1 million and zero of interest and penalties accrued as of both December 31, 2022 and 2021.

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 has concluded its examination in its local country for the years ended December 31, 2016 through the year ended December 31, 2018. The tax resulting from the examination was less than the uncertain tax position recorded generating a tax provision benefit in the year of $0.6 million.

- 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

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net loss per share

Net loss per share attributable to the common stockholders

As of December 31, 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 net loss attributable to common stockholders for the years ended December 31, 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 follow (in thousands, except share and per share amounts):


	Year Ended December 31,
	2022		2021
Numerator:
Net loss	$	(60,806)	$	(73,524)
Accretion of redeemable convertible preferred stock to redemption value	—		(1,761)
Cumulative redeemable convertible preferred stock dividends	—		(2,747)
Net loss attributable to common stockholders—basic and diluted	$	(60,806)	$	(78,032)
Denominator:
Weighted average Class A common shares outstanding—basic and diluted	36,727,742		16,568,267
Weighted average Class B common shares outstanding—basic and diluted	5,726,661		3,215,272
Total shares for EPS—basic and diluted	42,454,403		19,783,539
Net loss per share attributable to Class A common stockholders—basic and diluted	$	(1.43)	$	(3.94)
Net loss per share attributable to Class B common stockholders—basic and diluted	$	(1.43)	$	(3.94)

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:


	Year Ended December 31,
	2022	2021
Options to purchase common stock	5,076,650	4,823,100
Warrants to purchase common stock	286,324	294,964
Unvested restricted common stock	697,361	—
Options to purchase common stock under ESPP	181,558	—
	6,241,893	5,118,064

Leases

12 Months Ended

Dec. 31, 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 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):


	Year Ended December 31, 2022

Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	1,207
Operating cash outflows - payments on financing leases	$	42
Financing cash outflows - payments on financing leases	$	33
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):


	December 31, 2022
Operating Leases:
Operating lease assets	$	6,746

Operating lease liabilities, short-term	$	729
Operating lease liabilities, long-term	6,898
Total operating lease liabilities	$	7,627

Financing Leases:
Office furniture and fixtures	$	386
Accumulated depreciation	(69)
Net property, plant and equipment	$	317

Current portion of long-term debt	$	37
Long-term debt	304
Total financing lease liabilities	$	341

Weighted-average remaining lease term - operating leases (in years):	6.54
Weighted-average remaining lease term - financing leases (in years):	6.50
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):


	Year Ended December 31, 2022
Operating lease cost	$	1,144
Financing lease cost - amortization of right-of-use asset	49
Financing lease cost - interest on lease liability	42
Short-term lease cost	59
Variable lease cost	617
Total lease cost	$	1,911

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 $1.8 million for the year ended December 31, 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 $0.1 million for the year ended December 31, 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 2023 and therefore are not recorded on the consolidated balance sheets as of December 31, 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 December 31, 2022 were as follows (in thousands):


	Operating Lease Maturities
2023	$	1,273
2024	1,306
2025	1,339
2026	1,372
2027	1,404
Thereafter	2,223
Total lease payments	$	8,917
Less imputed interest	(1,019)
Total present value of lease liabilities	$	7,898

Maturities of the Company’s financing lease liability as of December 31, 2022 were as follows (in thousands):


	Financing Lease Maturities
2023	$	75
2024	75
2025	75
2026	75
2027	75
Thereafter	113
Total lease payments	$	488
Less imputed interest	(147)
Total present value of lease liabilities	$	341

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):


	Year Ended December 31, 2022

Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	1,207
Operating cash outflows - payments on financing leases	$	42
Financing cash outflows - payments on financing leases	$	33
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):


	December 31, 2022
Operating Leases:
Operating lease assets	$	6,746

Operating lease liabilities, short-term	$	729
Operating lease liabilities, long-term	6,898
Total operating lease liabilities	$	7,627

Financing Leases:
Office furniture and fixtures	$	386
Accumulated depreciation	(69)
Net property, plant and equipment	$	317

Current portion of long-term debt	$	37
Long-term debt	304
Total financing lease liabilities	$	341

Weighted-average remaining lease term - operating leases (in years):	6.54
Weighted-average remaining lease term - financing leases (in years):	6.50
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):


	Year Ended December 31, 2022
Operating lease cost	$	1,144
Financing lease cost - amortization of right-of-use asset	49
Financing lease cost - interest on lease liability	42
Short-term lease cost	59
Variable lease cost	617
Total lease cost	$	1,911

Maturities of the Company’s operating lease liabilities as of December 31, 2022 were as follows (in thousands):


	Operating Lease Maturities
2023	$	1,273
2024	1,306
2025	1,339
2026	1,372
2027	1,404
Thereafter	2,223
Total lease payments	$	8,917
Less imputed interest	(1,019)
Total present value of lease liabilities	$	7,898

Maturities of the Company’s financing lease liability as of December 31, 2022 were as follows (in thousands):


	Financing Lease Maturities
2023	$	75
2024	75
2025	75
2026	75
2027	75
Thereafter	113
Total lease payments	$	488
Less imputed interest	(147)
Total present value of lease liabilities	$	341

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

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Software subscription During the year ended December 31, 2020, the Company entered into a non-cancelable agreement with a service provider for software as a service and cloud hosting services. As of December 31, 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 $0.1 million accrued for the software subscription as of December 31, 2022 and December 31, 2021. 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 consolidated financial statements as of December 31, 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.

Benefit plans	12 Months Ended
Benefit plans	Dec. 31, 2022
Retirement Benefits [Abstract]
Benefit plans	Benefit plansThe Company established a defined contribution savings plan under Section 401(k) of the Internal Revenue 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 $0.8 million and $0.3 million to the plan during the years ended December 31, 2022 and 2021, respectively.

Summary of significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted 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. 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”).

Use of estimates

Risk of concentrations of credit, significant customers and significant suppliers


	Year Ended December 31,
	2022		2021
Customer A	22.8	%	16.7	%
	22.8	%	16.7	%

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


	Year Ended December 31,
	2022		2021
Customer A	21.4	%	19.5	%
Customer B	16.7	%	*
Customer C	11.8	%	*
Customer D	*		12.6	%
Customer E	*		10.6	%
Customer F	*		10.0	%
	49.9	%	52.7	%

______________________________

*– less than 10%

Debt issuance costs

Debt issuance costsThe 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 consolidated balance sheets and amortized as interest expense on the consolidated statement of operations using the effective interest method, which approximates the straight-line method.

Cash equivalents

Cash equivalentsThe 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.

Restricted cash

Investments

Accounts receivable

Accounts receivableAccounts receivable are customer obligations that are unconditional. Accounts receivable are presented net of an allowance for doubtful accounts, which represents an estimate of amounts that may not be collectible. The Company performs ongoing credit evaluations of its customers and, if necessary, provides an allowance for doubtful accounts and expected losses. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues collection of the receivable. The Company does not have any off-balance-sheet credit exposure related to customers.

Inventory

Property and equipment


			Estimated Useful Life
Manufacturing and laboratory equipment			5-10 years
Computer hardware and software			3 years
Office furniture and fixtures			5-7 years
Leasehold improvements			Shorter of remaining life of lease or useful life

Software Development Costs

Software development costsThe 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.

Impairment of long-lived assets

Impairment of long-lived assetsLong-lived assets consist of property and equipment. Long-lived assets to be held and used are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset group for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset group to its carrying value. An impairment loss would be recognized in loss from operations when estimated undiscounted future cash flows expected to result from the use of an asset group are less than its carrying amount. The impairment loss is based on the excess of the carrying value of the impaired asset group over its fair value, determined based on discounted cash flows.

Fair value measurements

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

Product warranties

Product warrantiesThe Company offers a one-year limited assurance warranty on system sales, which is included in the selling price. Product warranties provide assurance that the Company’s product functions in accordance with standard specifications. Warranties cover for repairs and replacements when the product does not function in accordance with agreed specifications. The standard assurance warranty does not cover, and no warranty is provided for, parts which by their nature are normally required to be replaced periodically. The accrued warranty cost is based on estimated material, labor and other costs that the Company expects to incur to fulfill the warranty obligation. Estimates are primarily based on historical information, current cost data and future forecasts. The Company periodically assesses the adequacy of the warranty accrual and adjusts the amount as necessary. If the historical data used to calculate the adequacy of the warranty accrual are not indicative of future requirements, additional or reduced warranty accrual may be required. The warranty accrual is included in accrued expenses and other current liabilities in the consolidated balance sheets.

Classification and accretion of redeemable convertible preferred stock

Preferred stock warrant liability

Segment information

Revenue recognition

Product revenue

Service revenue

Performance obligations

Payment terms

Multiple performance obligations with an arrangement

Remaining performance obligations

Contract balances from contracts with customers

Non-commercial revenue

Disaggregated revenue


	Year Ended December 31,
	2022		2021
Product and service revenue — recurring	$	10,983	$	7,819
Product and service revenue — non-recurring	6,150		13,818
Non-commercial revenue — non-recurring	—		1,595
Total revenue	$	17,133	$	23,232

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


	Year Ended December 31,
	2022		2021
United States	$	8,767	$	12,892
Germany	2,649		1,695
Switzerland	2,756		4,314
All other countries	2,961		4,331
Total revenue	$	17,133	$	23,232

Cost of revenue

Research and development costs

Advertising costs

Advertising costsAdvertising costs are expensed as incurred and are included in sales and marketing expenses in the consolidated statements of operations.

Patent costs

Stock-based compensation

that the Company has never paid cash dividends on its common stock and does not expect to pay any cash dividends in the foreseeable future.

Income taxes

Foreign currency translation and transactions

Comprehensive loss

Net loss per share attributable to common stockholders

Recently adopted and issued accounting pronouncements

Recently adopted accounting pronouncements

Recently issued accounting pronouncements

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Concentration Risk

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


	Year Ended December 31,
	2022		2021
Customer A	22.8	%	16.7	%
	22.8	%	16.7	%

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


	Year Ended December 31,
	2022		2021
Customer A	21.4	%	19.5	%
Customer B	16.7	%	*
Customer C	11.8	%	*
Customer D	*		12.6	%
Customer E	*		10.6	%
Customer F	*		10.0	%
	49.9	%	52.7	%

______________________________

*– less than 10%

Summary of Estimated Useful Life of Assets

Depreciation and amortization expense is recognized using the straight-line method over the estimated useful life of each asset, as follows:


			Estimated Useful Life
Manufacturing and laboratory equipment			5-10 years
Computer hardware and software			3 years
Office furniture and fixtures			5-7 years
Leasehold improvements			Shorter of remaining life of lease or useful life

Summary of Changes in Amount Reserved for Warranty Cost

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


	Year Ended December 31,
	2022		2021
Balance, beginning of the period	$	598	$	637
Warranty provisions	646		—
Warranty repairs	(372)		(39)
Balance, end of the year	$	872	$	598

Schedule of Disaggregated Revenue by Nature and Geographic Location

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):


	Year Ended December 31,
	2022		2021
Product and service revenue — recurring	$	10,983	$	7,819
Product and service revenue — non-recurring	6,150		13,818
Non-commercial revenue — non-recurring	—		1,595
Total revenue	$	17,133	$	23,232

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


	Year Ended December 31,
	2022		2021
United States	$	8,767	$	12,892
Germany	2,649		1,695
Switzerland	2,756		4,314
All other countries	2,961		4,331
Total revenue	$	17,133	$	23,232

Fair value of financial assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured on a Recurring Basis


	Fair value measurements as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	22,072	$	—	$	—	$	22,072
Short-term investments	81,093		491		—		81,584
Long-term investments	26,431		3,359		—		29,790
	$	129,596	$	3,850	$	—	$	133,446


	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

Schedule of Unobservable Inputs of Preferred Stock Warrant Liability



	Year Ended December 31, 2021
Fair value of Series A1 preferred stock	$	3.01
Fair value of Series B1 preferred stock	$	3.26
Fair value of Series C1 preferred stock	$	3.30
Remaining contractual term (in years)	6.8
Risk-free interest rate	1.2%
Expected dividend yield	—		%
Expected volatility	42.0%

Schedule of Fair Values of Preferred Stock Warrant Liability

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



	Year Ended December 31, 2021
Balance, beginning of period	$	4,117
Initial fair value of Series C1 preferred stock warrants	—
Change in fair value of preferred stock warrants	19,643
Conversion of preferred stock warrants to common stock warrants	(23,760)
Balance, end of period	$	—

Investments (Tables)

12 Months Ended

Dec. 31, 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):


	December 31, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Short-term investments
Certificates of Deposit	$	491	$	—	$	—	$	491
U.S. Government Treasury Bills	$	32,115	$	1	$	(40)	$	32,076
U.S. Government Treasury Notes	49,625				(608)		49,017
	$	82,231	$	1	$	(648)	$	81,584
Long-term Investments
Certificates of Deposit	3,391		4		(36)		3,359
U.S. Government Treasury Notes - Maturity Up To Two Years	26,861		1		(431)		26,431
	$	30,252	$	5	$	(467)	$	29,790


	December 31, 2021
Short-term investments	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
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

Inventory (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Summary of Inventory

Inventory consisted of the following (in thousands):


	December 31,		December 31,
	2022		2021
Raw materials	$	15,014	$	10,135
Work in process	1,599		1,235
Finished goods	4,574		4,301
Total	$	21,187	$	15,671

Prepaid expenses and other current assets (Tables)

12 Months Ended

Dec. 31, 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):


	December 31,		December 31,
	2022		2021
Prepaid insurance	$	1,500	$	1,622
Contract asset	112		396
Deposits	1,055		1,262
Lease receivables, current portion	—		231
Other	705		440
	$	3,372	$	3,951

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

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


	December 31,		December 31,
	2022		2021
Manufacturing and laboratory equipment	$	13,408	$	13,277
Computer hardware and software	1,651		1,742
Office furniture and fixtures	589		745
Leasehold improvements	8,260		3,012
Construction-in-process	1,712		4,313
	25,620		23,089
Less: Accumulated depreciation	(11,802)		(11,785)
	$	13,818	$	11,304

Accrued expenses and other current liabilities (Tables)

12 Months Ended

Dec. 31, 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):


	December 31,		December 31,
	2022		2021
Accrued employee compensation and benefits expense	$	3,217	$	3,569
Accrued vendor expenses	3,212		5,500
Accrued warranty expense	872		598
Deferred rent, current portion	—		131
Accrued taxes	329		781
Other	520		338
	$	8,150	$	10,917

Common stock and common stock warrants (Tables)

12 Months Ended

Dec. 31, 2022

Common stock and common stock warrants

Schedule of Outstanding Common Stock Warrants

As of December 31, 2022 and 2021, warrants to purchase the Class A common stock outstanding consisted of the following:


	December 31, 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


	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 (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Black-Scholes Option-Pricing Model


	Year Ended December 31,
	2022		2021
Risk-free interest rate	2.14	%	1.02	%
Expected term (in years)	6.0		6.0
Expected volatility	43.3	%	44.4	%
Expected dividend yield	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	1,708,293	7.11
Exercised	(572,932)	0.99
Expired	(71,521)	11.04
Forfeited	(845,632)	11.40
Outstanding as of December 31, 2022	5,041,308	$	5.05	7.55	$	532
Options vested and expected to vest as of December 31, 2022	5,041,308	$	5.05	7.55	$	532
Options exercisable as of December 31, 2022	2,745,821	$	3.38	6.58	$	393

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

The following table summarizes restricted stock units granted to Company employees during the year ended December 31, 2022:


	Number of shares	Weighted average fair value

Unvested as of December 31, 2021	—
Granted	668,246	$	7.12
Vested	—
Forfeited	(136,125)	7.35
Unvested as of December 31, 2022	532,121	$	7.06

Schedule of Stock-Based Compensation Expense

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


	Year Ended December 31,
	2022		2021
Cost of revenue	$	530	$	329
General and administrative	2,630		1,025
Sales and marketing	475		346
Research and development	384		143
Total stock-based compensation expense	$	4,019	$	1,843

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 year ended December 31, 2022 (there were no offering periods for the year ended December 31, 2021):


	Year Ended December 31, 2022
Risk-free interest rate	2.60	%
Expected term (in years)	0.5
Expected volatility	49.1	%
Expected dividend yield	0	%

Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Company's Loss Before Income Tax Expense

The components of the Company’s loss before income tax (benefit) expense are as follows (in thousands):


	Year Ended December 31,
	2022		2021
United States	$	(61,396)	$	(73,643)
Foreign	14		$	210
Loss before income tax provision	$	(61,382)	$	(73,433)

Schedule of Components of Income Tax Expense

The components of income tax (benefit) expense are as follows (in thousands):


	Year Ended December 31,
	2022		2021
Current income tax provision:
Federal	$	—	$	—
State	—		—
Foreign	(576)		91
Total current income tax (benefit) expense	(576)		91
Deferred income tax provision:
Federal	(13,347)		17,099
State	(2,824)		2,923
Foreign	—		—
Total deferred income tax provision	(16,171)		20,022
Change in deferred tax asset valuation allowance	16,171		(20,022)
Total (benefit) expense for income taxes	$	(576)	$	91

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:


	Year Ended December 31,
	2022		2021
Federal statutory income tax rate	21.0	%	21.0	%
State income taxes, net of federal benefit	3.6		(3.1)
Federal and state research and development tax credits	0.6		0.5
Unrecognized tax benefits reserve and interest change	1.0		(0.1)
Change in valuation allowance	(25.3)		26.4
Permanent differences	0.1		(0.5)
Section 382/383 limitation	—		(38.7)
Unrealized gain (loss) on value of warrants	—		(5.6)
Effective income tax rate	1.0	%	(0.1)	%

Schedule of Net Deferred Tax Assets

Net deferred tax assets consisted of the following (in thousands):


	December 31,		December 31,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	46,387	$	33,663
Research and development credit carryforwards	4,403		3,605
Research and development capitalized costs	6,119		4,041
Inventories	390		196
Lease liability	1,858		—
Accrued expenses	778		1,076
Unrealized loss	270		—
Other	712		139
Total deferred tax assets	60,917		42,720
Deferred tax liabilities:
Right-of-use assets	(1,644)		—
Depreciation	(340)		(229)
Total deferred tax liabilities	(1,984)		(229)
Valuation allowance	(58,933)		(42,491)
Net deferred tax assets	$	—	$	—

Schedule of Changes in the Valuation Allowance for Deferred Tax Assets


	December 31,		December 31,
	2022		2021
Valuation allowance as of beginning of year	$	42,491	$	62,513
Increases recorded to income tax provision	17,726		13,067
Decreases recorded as a benefit to income tax provision	(1,284)		(33,089)
Valuation allowance as of end of year	$	58,933	$	42,491

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


	December 31,		December 31,
	2022		2021
Unrecognized tax benefits as of beginning of year	$	623	$	569
Additions for tax positions of prior years	—		54
Reductions for tax positions of prior years	(623)		—
Unrecognized tax benefits as of end of year	$	—	$	623

Net loss per share (Tables)

12 Months Ended

Dec. 31, 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 follow (in thousands, except share and per share amounts):


	Year Ended December 31,
	2022		2021
Numerator:
Net loss	$	(60,806)	$	(73,524)
Accretion of redeemable convertible preferred stock to redemption value	—		(1,761)
Cumulative redeemable convertible preferred stock dividends	—		(2,747)
Net loss attributable to common stockholders—basic and diluted	$	(60,806)	$	(78,032)
Denominator:
Weighted average Class A common shares outstanding—basic and diluted	36,727,742		16,568,267
Weighted average Class B common shares outstanding—basic and diluted	5,726,661		3,215,272
Total shares for EPS—basic and diluted	42,454,403		19,783,539
Net loss per share attributable to Class A common stockholders—basic and diluted	$	(1.43)	$	(3.94)
Net loss per share attributable to Class B common stockholders—basic and diluted	$	(1.43)	$	(3.94)

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 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:


	Year Ended December 31,
	2022	2021
Options to purchase common stock	5,076,650	4,823,100
Warrants to purchase common stock	286,324	294,964
Unvested restricted common stock	697,361	—
Options to purchase common stock under ESPP	181,558	—
	6,241,893	5,118,064

Leases (Tables)

12 Months Ended

Dec. 31, 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 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):


	Year Ended December 31, 2022

Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$	1,207
Operating cash outflows - payments on financing leases	$	42
Financing cash outflows - payments on financing leases	$	33
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):


	Year Ended December 31, 2022
Operating lease cost	$	1,144
Financing lease cost - amortization of right-of-use asset	49
Financing lease cost - interest on lease liability	42
Short-term lease cost	59
Variable lease cost	617
Total lease cost	$	1,911

Schedule of Supplemental Balance Sheet Information

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


	December 31, 2022
Operating Leases:
Operating lease assets	$	6,746

Operating lease liabilities, short-term	$	729
Operating lease liabilities, long-term	6,898
Total operating lease liabilities	$	7,627

Financing Leases:
Office furniture and fixtures	$	386
Accumulated depreciation	(69)
Net property, plant and equipment	$	317

Current portion of long-term debt	$	37
Long-term debt	304
Total financing lease liabilities	$	341

Weighted-average remaining lease term - operating leases (in years):	6.54
Weighted-average remaining lease term - financing leases (in years):	6.50
Weighted-average discount rate - operating leases:	3.7		%
Weighted-average discount rate - financing leases:	12.0		%

Schedule of Future Minimum Lease Commitments Under Operating Leases

Maturities of the Company’s operating lease liabilities as of December 31, 2022 were as follows (in thousands):


	Operating Lease Maturities
2023	$	1,273
2024	1,306
2025	1,339
2026	1,372
2027	1,404
Thereafter	2,223
Total lease payments	$	8,917
Less imputed interest	(1,019)
Total present value of lease liabilities	$	7,898

Schedule of Finance Lease Liability Maturities

Maturities of the Company’s financing lease liability as of December 31, 2022 were as follows (in thousands):


	Financing Lease Maturities
2023	$	75
2024	75
2025	75
2026	75
2027	75
Thereafter	113
Total lease payments	$	488
Less imputed interest	(147)
Total present value of lease liabilities	$	341

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

Nature of the business and basis of presentation (Details) $ / shares in Units, $ in Thousands				12 Months Ended
	Aug. 04, 2021 USD ($) $ / shares shares	Jul. 19, 2021 USD ($) $ / shares shares	Jul. 09, 2021	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Gross proceeds from transaction				$ 0	$ 164,100
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

Summary of significant accounting policies - Schedule of Concentration Risk (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue Benchmark \| Major Customers
Concentration Risk [Line Items]
Customer concentration risk	22.80%	16.70%
Revenue Benchmark \| Customer A
Concentration Risk [Line Items]
Customer concentration risk	22.80%	16.70%
Accounts Receivable \| Major Customers
Concentration Risk [Line Items]
Customer concentration risk	49.90%	52.70%
Accounts Receivable \| Customer A
Concentration Risk [Line Items]
Customer concentration risk	21.40%	19.50%
Accounts Receivable \| Customer B
Concentration Risk [Line Items]
Customer concentration risk	16.70%
Accounts Receivable \| Customer C
Concentration Risk [Line Items]
Customer concentration risk	11.80%
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%

Summary of significant accounting policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) segment item	Dec. 31, 2021 USD ($)	Jan. 01, 2022 USD ($)
Accounting Policies [Line Items]
Amortization of debt issuance costs	$ 0	$ 400,000
Cash held in banks outside of the US	200,000	300,000
Guaranteed investment certificates	284,000	284,000
Allowance for doubtful accounts	0	0
Provision for bad debts or recoveries	0	0
Software development costs, net of amortization	1,400,000	1,300,000
Amortization of software development costs	400,000	100,000
Software development amortization expense	300,000	100,000
Impairment losses on long-lived assets	$ 0	0
Product warranty term	1 year
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Assurance warranty term	1 year
Number of preventative maintenance services during the warranty period \| item	2
Contract assets	$ 100,000	300,000
Non-current deferred revenue	0
Current deferred revenue	4,700,000	3,300,000
Revenue recognized which was included in deferred revenue in prior period	2,700,000	3,800,000
Advertising costs	100,000	100,000
Unrealized loss on investments, net of tax	1,093,000	17,000
Right-of-use assets, net, operating	6,746,000
Operating lease liabilities	7,627,000
Right-of-use assets, net, financing	317,000
Finance lease liabilities	$ 341,000
Accounting Standards Update 2016-02
Accounting Policies [Line Items]
Right-of-use assets, net, operating			$ 6,000,000
Operating lease liabilities			7,000,000
Right-of-use assets, net, financing			400,000
Finance lease liabilities			$ 400,000
Minimum
Accounting Policies [Line Items]
Payment term	30 days
Maximum
Accounting Policies [Line Items]
Payment term	90 days
Unrealized loss on investments, net of tax		$ 100,000
Software Development
Accounting Policies [Line Items]
Amortization period of capitalized software costs	5 years

Summary of significant accounting policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Manufacturing and laboratory equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Manufacturing and laboratory equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Computer hardware and software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Office furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Office furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years

Summary of significant accounting policies - Product Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 598	$ 637
Warranty provisions	646	0
Warranty repairs	(372)	(39)
Balance at end of period	$ 872	$ 598

Summary of significant accounting policies - Disaggregated Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 17,133	$ 23,232
United States
Disaggregation of Revenue [Line Items]
Total revenue	8,767	12,892
Germany
Disaggregation of Revenue [Line Items]
Total revenue	2,649	1,695
Switzerland
Disaggregation of Revenue [Line Items]
Total revenue	2,756	4,314
All other countries
Disaggregation of Revenue [Line Items]
Total revenue	2,961	4,331
Product and Service Revenue \| Recurring
Disaggregation of Revenue [Line Items]
Total revenue	10,983	7,819
Product and Service Revenue \| Non-Recurring
Disaggregation of Revenue [Line Items]
Total revenue	6,150	13,818
Non-Commercial Revenue
Disaggregation of Revenue [Line Items]
Total revenue	0	1,595
Non-Commercial Revenue \| Non-Recurring
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 1,595

Fair value of financial assets and liabilities - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Short-term investments
Assets
Investments	$ 81,584	$ 15,110
Long-term investments
Assets
Investments	29,790	9,966
Fair Value, Recurring
Assets
Cash equivalents	22,072	173,755
Assets	133,446	198,831
Fair Value, Recurring \| Short-term investments
Assets
Investments	81,584	15,110
Fair Value, Recurring \| Long-term investments
Assets
Investments	29,790	9,966
Fair Value, Recurring \| Level 1
Assets
Cash equivalents	22,072	173,755
Assets	129,596	198,831
Fair Value, Recurring \| Level 1 \| Short-term investments
Assets
Investments	81,093	15,110
Fair Value, Recurring \| Level 1 \| Long-term investments
Assets
Investments	26,431	9,966
Fair Value, Recurring \| Level 2
Assets
Cash equivalents	0	0
Assets	3,850	0
Fair Value, Recurring \| Level 2 \| Short-term investments
Assets
Investments	491	0
Fair Value, Recurring \| Level 2 \| Long-term investments
Assets
Investments	3,359	0
Fair Value, Recurring \| Level 3
Assets
Cash equivalents	0	0
Assets	0	0
Fair Value, Recurring \| Level 3 \| Short-term investments
Assets
Investments	0	0
Fair Value, Recurring \| Level 3 \| Long-term investments
Assets
Investments	$ 0	$ 0

Fair value of financial assets and liabilities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Fair Value Disclosures [Abstract]
Fair value assessment charges	$ 8.2

Fair value of financial assets and liabilities - Weighted Average of the Unobservable Inputs Used to Fair Value (Details)	Dec. 31, 2021 $ / shares yr
Fair value \| Series A1 Preferred Stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input	3.01
Fair value \| Series B1 Preferred Stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input	3.26
Fair value \| Series C1 Preferred Stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input	3.30
Remaining contractual term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input \| yr	6.8
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input	1.2
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input	0
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Preferred stock warrant liability, measurement input	42.0

Fair value of financial assets and liabilities - Rollforward of the Aggregate Fair Values (Details) - Preferred stock warrant liability $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 4,117
Change in fair value of preferred stock warrants	19,643
Conversion of preferred stock warrants to common stock warrants	(23,760)
Balance, end of period	0
Series C1 preferred Stock Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Initial fair value of Series C1 preferred stock warrants	$ 0

Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Short-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 82,231	$ 15,125
Gross unrealized gains	1	0
Gross unrealized losses	(648)	(15)
Fair value	81,584	15,110
Certificates of Deposit
Debt Securities, Available-for-sale [Line Items]
Amortized cost	491
Gross unrealized gains	0
Gross unrealized losses	0
Fair value	491
U.S. Government Treasury Bills
Debt Securities, Available-for-sale [Line Items]
Amortized cost	32,115	4,983
Gross unrealized gains	1	0
Gross unrealized losses	(40)	(2)
Fair value	32,076	4,981
U.S. Government Treasury Notes
Debt Securities, Available-for-sale [Line Items]
Amortized cost	49,625	10,142
Gross unrealized gains		0
Gross unrealized losses	(608)	(13)
Fair value	49,017	10,129
Long-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	30,252	9,966
Gross unrealized gains	5	0
Gross unrealized losses	(467)	0
Fair value	29,790	9,966
Certificates of Deposit
Debt Securities, Available-for-sale [Line Items]
Amortized cost	3,391
Gross unrealized gains	4
Gross unrealized losses	(36)
Fair value	3,359
U.S. Government Treasury Notes - Maturity Up To Two Years
Debt Securities, Available-for-sale [Line Items]
Amortized cost	26,861	9,966
Gross unrealized gains	1	0
Gross unrealized losses	(431)	0
Fair value	$ 26,431	$ 9,966

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 15,014	$ 10,135
Work in process	1,599	1,235
Finished goods	4,574	4,301
Total	21,187	15,671
Inventory adjustments	$ 1,100	$ 1,200

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid insurance	$ 1,500	$ 1,622
Contract asset	112	396
Deposits	1,055	1,262
Lease receivables, current portion	0	231
Other	705	440
Prepaid expenses and other current assets	$ 3,372	$ 3,951

Property and equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 25,620	$ 23,089
Less: Accumulated depreciation	(11,802)	(11,785)
Property plant and equipment, net	13,818	11,304
Manufacturing and laboratory equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	13,408	13,277
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	1,651	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	$ 1,712	$ 4,313

Property and equipment, net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 2.5	$ 1.5
Fully depreciated assets disposed of	$ 2.3
Maximum
Property, Plant and Equipment [Line Items]
Fully depreciated assets disposed of		$ 0.1

Accrued expenses and other current liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued employee compensation and benefits expense	$ 3,217	$ 3,569
Accrued vendor expenses	3,212	5,500
Accrued warranty expense	872	598
Deferred rent, current portion		131
Accrued taxes	329	781
Other	520	338
Accrued expenses and other current liabilities	$ 8,150	$ 10,917

Accrued expenses and other current liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Payables and Accruals [Abstract]
Restructuring costs	$ 1.1
Payments for restructuring		$ 0.6
Restructuring related accrued expenses		$ 0.5

Long-term debt (Details) - USD ($)	1 Months Ended	12 Months Ended
Long-term debt (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	May 31, 2020
Debt Instrument [Line Items]
Long-term debt outstanding		$ 0	$ 0
Loss on extinguishment of debt		$ 0	3,100,000
2020 Term Loan
Debt Instrument [Line Items]
Loan face amount				$ 60,000,000
Facility fees				800,000
Debt issuance costs				1,500,000
Professional fees				900,000
Fair value of warrants issued with debt				$ 600,000
Interest expense			2,500,000
Amortization of debt discount			$ 300,000
Loss on extinguishment of debt	$ 3,100,000
Prepayment penalty	1,800,000
Expense 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 fees				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 fees				300,000
Term C Loan \| Debt Instrument, Tranche Two
Debt Instrument [Line Items]
Loan face amount				15,000,000
Facility fees				$ 200,000

Redeemable convertible preferred stock (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Jul. 14, 2021	Jun. 25, 2021	Mar. 31, 2021	Dec. 31, 2022	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
Share price of shares issued (in dollars per share)			$ 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
Share price of shares issued (in dollars per share)			$ 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

Preferred stock warrants (Details) - Series C1 Preferred Stock $ / shares in Units, $ in Millions	May 31, 2020 USD ($) $ / shares shares
Preferred stock warrants
Warrant term	10 years
Warrant fair value \| $	$ 0.7
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

Common stock and common stock warrants - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) vote $ / shares shares	Dec. 31, 2021 $ / shares shares	Jul. 19, 2021 shares
Common stock and common stock warrants
Cash dividends \| $	$ 0
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)	36,538,805	34,564,040
Common stock, outstanding (in shares)	36,538,805	34,564,040
Number of votes per share held \| vote	1
Shares reserved (in shares)	20,118,778
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

Common stock and common stock warrants - Warrants (Details) - Common Stock Warrant - $ / shares	Dec. 31, 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

Stock-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			12 Months Ended
	Jul. 31, 2021	Mar. 31, 2021	Feb. 28, 2021	Dec. 31, 2022	Dec. 31, 2021	Jul. 19, 2021
Share-based compensation
Granted (in shares)				1,708,293
Stock-based compensation expense				$ 4,019	$ 1,843
Intrinsic value of stock options exercised				$ 2,900	$ 1,600
Weighted average grant-date fair value of stock options granted (in dollars per share)				$ 3.13	$ 4.89
Employee payments for shares granted				$ 160	$ 0
Unrecognized compensation expense				$ 6,800
Share-Based Payment Arrangement, Option
Share-based compensation
Weighted average period for unrecognized compensation expense				2 years 4 months 24 days
Restricted Stock
Share-based compensation
Vesting period			4 years
Units granted (in shares)			248,903	0
Employee payments for shares granted			$ 500
Weighted average grant-date fair value per share of units granted (in dollars per share)			$ 2.10	$ 2.10
Unvested stock liability				$ 300	500
Restricted Stock Units (RSUs)
Share-based compensation
Vesting period				3 years
Stock-based compensation expense				$ 1,000	$ 0
Units granted (in shares)				668,246	0
Weighted average grant-date fair value per share of units granted (in dollars per share)				$ 7.12
Weighted average period for unrecognized compensation expense				2 years 2 months 12 days
Unrecognized compensation expense related to units				$ 2,700
Class A Common stock
Share-based compensation
Shares available for future issuance (in shares)				20,118,778
2010 Plan
Share-based compensation
Additional shares authorized (in shares)		382,889
Shares authorized (in shares)						0
2021 Incentive Award Plan
Share-based compensation
Plan term	10 years
Number of shares available for grant (in shares)				4,179,239
2021 Incentive Award Plan \| Share-Based Payment Arrangement, Option
Share-based compensation
Plan term				10 years
Percentage at market fair value				100.00%
2021 Incentive Award Plan \| Share-Based Payment Arrangement, Option \| Employees, Officers and Consultant
Share-based compensation
Vesting period				4 years
2021 Incentive Award Plan \| Share-Based Payment Arrangement, Option \| Board of Directors
Share-based compensation
Vesting period				3 years
2021 Incentive Award Plan \| Share-Based Payment Arrangement, Option \| Employees, Officers and Directors
Share-based compensation
Granted (in shares)				1,708,293	2,011,479
Stock-based compensation expense				$ 2,800	$ 1,800
2021 Incentive Award Plan \| Class A Common stock
Share-based compensation
Shares authorized (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 Employee Stock Purchase Plan
Share-based compensation
Shares authorized (in shares)	400,000
Plan term	10 years
Percentage of aggregate number of shares outstanding	1.00%
Maximum number of shares issuable upon exercise of stock option (in shares)	6,300,000
2021 ESPP \| Maximum
Share-based compensation
Stock-based compensation expense				$ 100
2021 ESPP \| Options to purchase common stock under ESPP
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 purchased under plan (in shares)				51,833
Shares available for future issuance (in shares)				693,807

Stock-based compensation - Schedule of Black-Scholes Option-Pricing Model (Details) - 2021 Incentive Award Plan - Share-Based Payment Arrangement, Option	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based compensation
Risk-free interest rate	2.14%	1.02%
Expected term (in years)	6 years	6 years
Expected volatility	43.30%	44.40%
Expected dividend yield	0.00%	0.00%

Stock-based compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of shares
Outstanding at beginning of period (in shares)	4,823,100
Granted (in shares)	1,708,293
Exercised (in shares)	(572,932)
Expired (in shares)	(71,521)
Forfeited (in shares)	(845,632)
Outstanding at end of period (in shares)	5,041,308	4,823,100
Options vested and expected to vest (in shares)	5,041,308
Options exercisable (in shares)	2,745,821
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)	$ 5.06
Granted (in dollars per share)	7.11
Exercised (in dollars per share)	0.99
Expired (in dollars per share)	11.04
Forfeited (in dollars per share)	11.40
Outstanding at end of period (in dollars per share)	5.05	$ 5.06
Options vested and expected to vest (in dollars per share)	5.05
Options exercisable (in dollars per share)	$ 3.38
Weighted average remaining contractual term
Options outstanding	7 years 6 months 18 days	7 years 7 months 13 days
Options vested and expected to vest	7 years 6 months 18 days
Options exercisable	6 years 6 months 29 days
Aggregate intrinsic value
Options outstanding	$ 532	$ 31,041
Options vested and expected to vest	532
Options exercisable	$ 393

Stock-based compensation - Schedule of Restricted Stock Activity (Details) - $ / shares	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock
Number of shares
Unvested at beginning of period (in shares)		248,903
Granted (in shares)	248,903	0
Vested (in shares)		(93,338)
Forfeited (in shares)		0
Unvested at end of period (in shares)		155,565	248,903
Weighted average fair value
Unvested at beginning of period (in dollars per share)		$ 2.10
Granted (in dollars per share)	$ 2.10	2.10
Vested (in dollars per share)		2.10
Forfeited (in shares)
Unvested at end of period (in dollars per share)		$ 2.10	$ 2.10
Restricted Stock Units (RSUs)
Number of shares
Unvested at beginning of period (in shares)		0
Granted (in shares)		668,246	0
Vested (in shares)		0
Forfeited (in shares)		(136,125)
Unvested at end of period (in shares)		532,121	0
Weighted average fair value
Unvested at beginning of period (in dollars per share)
Granted (in dollars per share)		7.12
Vested (in dollars per share)
Forfeited (in shares)		7.35
Unvested at end of period (in dollars per share)		$ 7.06

Stock-based compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 4,019	$ 1,843
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	530	329
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	384	143
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	475	346
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 2,630	$ 1,025

Stock-based compensation - Schedule of ESPP Black-Scholes Option-Pricing Model (Details) - Employee Stock - 2021 ESPP	12 Months Ended
	Dec. 31, 2022
Share-based compensation
Risk-free interest rate	2.60%
Expected term (in years)	6 months
Expected volatility	49.10%
Expected dividend yield	0.00%

Income taxes - Loss Before Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ (61,396)	$ (73,643)
Foreign	14	210
Loss before income tax provision	$ (61,382)	$ (73,433)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: 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

Reference 2: 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 3: 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 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: 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 6: 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(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: 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(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: 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 10: 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(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income taxes - Components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current income tax provision:
Federal	$ 0	$ 0
State	0	0
Foreign	(576)	91
Total current income tax (benefit) expense	(576)	91
Deferred income tax provision:
Federal	(13,347)	17,099
State	(2,824)	2,923
Foreign	0	0
Total deferred income tax provision	(16,171)	20,022
Change in deferred tax asset valuation allowance	16,171	(20,022)
Total (benefit) expense for income taxes	$ (576)	$ 91

Income taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%
State income taxes, net of federal benefit	3.60%	(3.10%)
Federal and state research and development tax credits	0.60%	0.50%
Unrecognized tax benefits reserve and interest change	1.00%	(0.10%)
Change in valuation allowance	(25.30%)	26.40%
Permanent differences	0.10%	(0.50%)
Section 382/383 limitation	0.00%	(38.70%)
Unrealized gain (loss) on value of warrants	0.00%	(5.60%)
Effective income tax rate	1.00%	(0.10%)

Income taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 46,387	$ 33,663
Research and development credit carryforwards	4,403	3,605
Research and development capitalized costs	6,119	4,041
Inventories	390	196
Lease liability	1,858
Accrued expenses	778	1,076
Unrealized loss	270	0
Other	712	139
Total deferred tax assets	60,917	42,720
Deferred tax liabilities:
Right-of-use assets	(1,644)
Depreciation	(340)	(229)
Total deferred tax liabilities	(1,984)	(229)
Valuation allowance	(58,933)	(42,491)	$ (62,513)
Net deferred tax assets	$ 0	$ 0

Income taxes - Narrative (Details) - USD ($)	12 Months Ended
Income taxes - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Federal net operating loss carryforwards	$ 189,300,000
State net operating loss carryforwards	87,100,000
Operating loss carryforward not subject to expiry	176,600,000
Interest and penalties	100,000	$ 100,000
Accrued interest and penalties	100,000	0
Income tax (benefit) expense	(576,000)	$ 91,000
Domestic Tax Authority
Income Tax Disclosure [Line Items]
Tax credit carryforwards	1,500,000
Operating loss carryforward not utilized and expected to expire	121,500,000
Domestic Tax Authority \| Research Tax Credit Carryforward
Income Tax Disclosure [Line Items]
Tax credit carryforward not utilized and expected to expire	2,400,000
State and Local Jurisdiction
Income Tax Disclosure [Line Items]
Tax credit carryforwards	2,900,000
Operating loss carryforward not utilized and expected to expire	$ 58,400,000
Foreign Tax Authority \| Federal Ministry of Finance, Germany
Income Tax Disclosure [Line Items]
Income tax (benefit) expense			$ 600,000

Income taxes - Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Valuation allowance at beginning of period	$ 42,491	$ 62,513
Increases recorded to income tax provision	17,726	13,067
Decreases recorded as a benefit to income tax provision	(1,284)	(33,089)
Valuation allowance at end of period	$ 58,933	$ 42,491

Income taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of period	$ 623	$ 569
Additions for tax positions of prior years	0	54
Reductions for tax positions of prior years	(623)	0
Unrecognized tax benefits at end of period	$ 0	$ 623

Net loss per share - Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net loss	$ (60,806)	$ (73,524)
Accretion of redeemable convertible preferred stock to redemption value	0	(1,761)
Cumulative redeemable convertible preferred stock dividends	0	(2,747)
Net loss attributable to common stockholders - basic	(60,806)	(78,032)
Net loss attributable to common stockholders - diluted	$ (60,806)	$ (78,032)
Denominator:
Weighted average common shares outstanding - basic (in shares)	42,454,403	19,783,539
Weighted average common shares outstanding - diluted (in shares)	42,454,403	19,783,539
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (1.43)	$ (3.94)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (1.43)	$ (3.94)
Class A Common stock
Denominator:
Weighted average common shares outstanding - basic (in shares)	36,727,742	16,568,267
Weighted average common shares outstanding - diluted (in shares)	36,727,742	16,568,267
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (1.43)	$ (3.94)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (1.43)	$ (3.94)
Class B Common stock
Denominator:
Weighted average common shares outstanding - basic (in shares)	5,726,661	3,215,272
Weighted average common shares outstanding - diluted (in shares)	5,726,661	3,215,272
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (1.43)	$ (3.94)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (1.43)	$ (3.94)

Net loss per share - Schedule of Common Stock Excluded From Computation of Diluted Net Loss per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 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)	6,241,893	5,118,064
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)	5,076,650	4,823,100
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	294,964
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)	697,361	0
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)	181,558	0

Leases - Schedule of Impacts of Topic 842 (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Right-of-use assets, net, operating	$ 6,746
Right-of-use assets, net, financing	317
Property and equipment, net	13,818		$ 11,304
Total			11,304
Total assets	190,650		241,169
Current liabilities:
Lease liabilities, short-term, operating	729
Lease liabilities, short-term, financing	37
Accrued expenses	8,150		10,917
Total			10,917
Total current liabilities	19,050		18,166
Lease liabilities, long-term, operating	6,898
Lease liabilities, long-term, financing	304
Deferred rent, long-term			813
Other long-term liabilities	229		1,210
Total			2,023
Total liabilities	26,481		20,189
Total stockholders' equity	164,169		220,980	$ (127,006)
Total liabilities and stockholders' equity	$ 190,650		$ 241,169
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
Accounting Standards Update 2016-02
Assets
Right-of-use assets, net, operating		6,000
Right-of-use assets, net, financing		400
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

Leases - Narrative (Details) $ in Thousands	1 Months Ended	12 Months Ended
Leases - Narrative (Details) $ in Thousands	Mar. 31, 2022 USD ($) renewalOption	Dec. 31, 2022 USD ($) renewalOption	May 31, 2022 USD ($)
Leases
Finance lease term		8 years
Finance lease renewal term		5 years
Rent expense		$ 1,800
Depreciation and interest expense		100
Right-of-use assets		6,746
Operating lease liabilities		7,627
Lowell, Massachussetts Lease Amendment
Leases
Number of operating lease renew options \| renewalOption	1
Renewal term	5 years
Tenant improvement allowance	$ 300
Future minimum lease payments, including leases with commencement dates expected in 2023	4,600
Future minimum lease payments for leases not yet commenced		$ 900
Right-of-use assets	1,200		$ 700
Operating lease liabilities	$ 1,300		$ 700
Minimum
Leases
Operating lease term		8 years
Number of finance lease renew options \| renewalOption		1
Maximum
Leases
Operating lease term		10 years

Leases - Schedule of Supplemental Cash Flow Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$ 1,207
Operating cash outflows - payments on financing leases	42
Financing cash outflows - payments on financing leases	33
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	7,605
Financing leases	$ 366

Leases - Schedule of Supplemental Balance Sheet Information (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating Leases:
Right-of-use assets, net, operating	$ 6,746
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Lease, Right-Of-Use Asset
Accrued expenses and other current liabilities	$ 729
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, short-term
Operating lease liabilities	$ 6,898
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, long-term
Total operating lease liabilities	$ 7,627
Financing Leases:
Office furniture and fixtures	386
Accumulated depreciation	(69)
Net property, plant and equipment	$ 317
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Lease, Right-Of-Use Asset
Current portion of long-term debt	$ 37
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, short-term
Long-term debt	$ 304
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liabilities, long-term
Total financing lease liabilities	$ 341
Weighted-average remaining lease term - operating leases (in years):	6 years 6 months 14 days
Weighted-average remaining lease term - financing leases (in years):	6 years 6 months
Weighted-average discount rate - operating leases:	3.70%
Weighted-average discount rate - financing leases:	12.00%

Leases - Schedule of Lease Expense (Details) $ in Thousands	12 Months Ended
Leases - Schedule of Lease Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
Operating lease cost	$ 1,144
Financing lease cost - amortization of right-of-use asset	49
Financing lease cost - interest on lease liability	42
Short-term lease cost	59
Variable lease cost	617
Total lease cost	$ 1,911

Leases - Schedule of Operating Lease Liability Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 1,273
2024	1,306
2025	1,339
2026	1,372
2027	1,404
Thereafter	2,223
Total lease payments	8,917
Less imputed interest	(1,019)
Total present value of lease liabilities	$ 7,898

Leases - Schedule of Finance Lease Liability Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 75
2024	75
2025	75
2026	75
2027	75
Thereafter	113
Total lease payments	488
Less imputed interest	(147)
Total present value of lease liabilities	$ 341

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

Commitments and contingencies (Details) - Software subscription - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Long-term Purchase Commitment [Line Items]
Purchase obligation	$ 0.8
Accrued liability	$ 0.1	$ 0.1

Benefit plans (Details) - USD ($) $ in Millions	12 Months Ended
Benefit plans (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Company contributions to plan	$ 0.8	$ 0.3